Segment Information

6 Months Ended

Jun. 30, 2023

Segment Information

Segment Information

1. Segment Information

The Company has two reportable segments and two operating segments based on its geographic locations: the Americas and Europe. These two 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 segments or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, certain equity investments and the remaining businesses in the Asia Pacific region that do not meet the criteria of an individually reportable segment after the sale of the Company’s Australia and New Zealand businesses in 2020. 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 before interest income, interest expense, and provision (benefit) for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations and other adjustments, as well as certain retained corporate costs. The Company’s management, including the chief operating decision maker (defined as the chief executive officer), 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 accounting principles generally accepted in the United States (“U.S. GAAP”) and, therefore, does not purport to be an alternative to earnings 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, 2023 and 2022 regarding the Company’s reportable segments is as follows:

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Net sales:
Americas	$	996	$	971	$	1,996	$	1,912
Europe		863		765		1,662		1,474
Reportable segment totals		1,859		1,736		3,658		3,386
Other		31		42		63		83
Net sales	$	1,890	$	1,778	$	3,721	$	3,469

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Earnings before income taxes	$	154	$	328	$	424	$	498
Items excluded from segment operating profit:
Retained corporate costs and other		54		53		114		103
Gain on sale of divested business								(55)
Gain on sale leaseback				(182)				(182)
Restructuring, asset impairment and other charges				12				12
Interest expense, net		118		46		186		112
Segment operating profit	$	326	$	257	$	724	$	488
Americas	$	126	$	130	$	303	$	258
Europe		200		127		421		230
Reportable segment totals	$	326	$	257	$	724	$	488

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

	June 30,		December 31,		June 30,
	2023		2022		2022
Total assets:
Americas	$	5,574	$	5,109	$	5,028
Europe		3,652		3,392		3,325
Reportable segment totals		9,226		8,501		8,353
Other		685		560		520
Consolidated totals	$	9,911	$	9,061	$	8,873