Segment Information (Notes)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company had historically operated in two principal operating segments, Vinyls and Olefins. During the fourth quarter of 2021, the Company reorganized its business into two principal operating segments, Performance and Essential Materials and Housing and Infrastructure Products. These segments are strategic business units that offer a variety of different materials and products. The Company manages each segment separately as each business requires different technology and marketing strategies. These reporting changes have been retrospectively reflected in the segment results for all periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net external sales
Performance and Essential Materials
Performance Materials	$	1,689	$	1,588	$	5,678	$	4,333
Essential Materials	1,022		734		2,969		1,877
Total Performance and Essential Materials	2,711		2,322		8,647		6,210
Housing and Infrastructure Products
Housing Products	1,018		536		3,106		1,491
Infrastructure Products	227		197		742		570
Total Housing and Infrastructure Products	1,245		733		3,848		2,061
	$	3,956	$	3,055	$	12,495	$	8,271
Intersegment sales
Performance and Essential Materials	$	248	$	202	$	788	$	586
Housing and Infrastructure Products	—		—		—		—
	$	248	$	202	$	788	$	586
Income (loss) from operations
Performance and Essential Materials	$	353	$	769	$	2,197	$	1,728
Housing and Infrastructure Products	186		103		607		270
Corporate and other	(23)		(11)		(81)		(71)
	$	516	$	861	$	2,723	$	1,927
Depreciation and amortization
Performance and Essential Materials	$	196	$	168	$	572	$	497
Housing and Infrastructure Products	65		34		206		98
Corporate and other	3		1		7		5
	$	264	$	203	$	785	$	600

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Other income, net
Performance and Essential Materials	$	12	$	9	$	25	$	25
Housing and Infrastructure Products	3		—		9		4
Corporate and other	9		4		18		6
	$	24	$	13	$	52	$	35
Provision for (benefit from) income taxes
Performance and Essential Materials	$	40	$	179	$	464	$	388
Housing and Infrastructure Products	44		25		146		65
Corporate and other	—		(11)		(18)		(30)
	$	84	$	193	$	592	$	423
Capital expenditures
Performance and Essential Materials	$	265	$	126	$	678	$	367
Housing and Infrastructure Products	51		17		126		45
Corporate and other	2		1		7		2
	$	318	$	144	$	811	$	414

A reconciliation of total segment income from operations to consolidated income before income taxes is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Income from operations	$	516	$	861	$	2,723	$	1,927
Interest expense	(44)		(61)		(134)		(130)
Other income, net	24		13		52		35
Income before income taxes	$	496	$	813	$	2,641	$	1,832

	September 30, 2022		December 31, 2021
Total assets
Performance and Essential Materials	$	13,990	$	11,938
Housing and Infrastructure Products	5,129		5,021
Corporate and other	1,306		1,500
	$	20,425	$	18,459