Segment Information

6 Months Ended

Jun. 30, 2020

Segment Information

Segment Information

1. Segment Information

The Company has three reportable segments and three operating segments based on its geographic locations: the Americas, Europe and Asia Pacific. These three segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, and certain equity investments. Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments.

The Company’s measure of profit for its reportable segments is segment operating profit, which consists of consolidated earnings (loss) from continuing operations before interest income, interest expense, and benefit (provision) for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations, as well as certain retained corporate costs. The Company’s management uses segment operating profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided. Segment operating profit is not a recognized term under U.S. GAAP, and therefore, does not purport to be an alternative to earnings (loss) before income taxes. Further, the Company's measure of segment operating profit may not be comparable to similarly titled measures of other companies.
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Financial information for the three and six months ended June 30, 2020 and 2019 regarding the Company’s reportable segments is as follows:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Net sales:
Americas	$	724	$	934	$	1,555	$	1,815
Europe		555		650		1,132		1,246
Asia Pacific		132		152		277		303
Reportable segment totals		1,411		1,736		2,964		3,364
Other		7		20		15		29
Net sales	$	1,418	$	1,756	$	2,979	$	3,393

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Segment operating profit:
Americas	$	52	$	144	$	155	$	257
Europe		42		90		103		169
Asia Pacific		1		2		6		10
Reportable segment totals		95		236		264		436
Items excluded from segment operating profit:
Retained corporate costs and other		(33)		(28)		(54)		(53)
Restructuring, asset impairment and other charges		(71)		(40)		(71)		(40)
Strategic transaction costs		(4)				(4)
Pension settlement charges		(8)		(2)		(8)		(2)
Charge for deconsolidation of Paddock						(14)
Interest expense, net		(98)		(68)		(151)		(132)
Earnings (loss) from continuing operations before income taxes	$	(119)	$	98	$	(38)	$	209

Financial information regarding the Company’s total assets is as follows:

	June 30,		December 31,		June 30,
	2020		2019		2019
Total assets:
Americas	$	4,707	$	5,264	$	5,994
Europe		3,315		3,127		3,342
Asia Pacific		915		1,012		1,045
Reportable segment totals		8,937		9,403		10,381
Other		642		207		342
Consolidated totals	$	9,579	$	9,610	$	10,723