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Business Segments (Tables)
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Business Segment Reporting Information

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In millions)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

1,823

 

 

$

2,049

 

 

$

4,630

 

 

$

5,896

 

Europe, Middle East and Africa

 

 

1,156

 

 

 

1,205

 

 

 

2,827

 

 

 

3,567

 

Asia Pacific

 

 

486

 

 

 

548

 

 

 

1,208

 

 

 

1,569

 

Net Sales

 

$

3,465

 

 

$

3,802

 

 

$

8,665

 

 

$

11,032

 

Segment Operating Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

106

 

 

$

175

 

 

$

(181

)

 

$

398

 

Europe, Middle East and Africa

 

 

22

 

 

 

66

 

 

 

(141

)

 

 

164

 

Asia Pacific

 

 

34

 

 

 

53

 

 

 

6

 

 

 

141

 

Total Segment Operating Income (Loss)

 

$

162

 

 

$

294

 

 

$

(316

)

 

$

703

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and Other Asset Impairments (Notes 8 and 9)

 

$

 

 

$

 

 

$

330

 

 

$

 

Rationalizations (Note 3)

 

 

25

 

 

 

21

 

 

 

133

 

 

 

128

 

Interest expense

 

 

88

 

 

 

88

 

 

 

246

 

 

 

261

 

Other (income) expense (Note 4)

 

 

32

 

 

 

35

 

 

 

93

 

 

 

74

 

Asset write-offs and accelerated depreciation (Note 3)

 

 

4

 

 

 

1

 

 

 

94

 

 

 

2

 

Corporate incentive compensation plans

 

 

14

 

 

 

13

 

 

 

24

 

 

 

28

 

Retained expenses of divested operations

 

 

2

 

 

 

1

 

 

 

5

 

 

 

7

 

Other

 

 

7

 

 

 

14

 

 

 

26

 

 

 

38

 

Income (Loss) before Income Taxes

 

$

(10

)

 

$

121

 

 

$

(1,267

)

 

$

165

 

 

Rationalizations, Asset sales, Other Expense and Asset Write-offs and Accelerated Depreciation Attributable to the SBUs

Goodwill and other asset impairments, as described in Note to the Consolidated Financial Statements No. 8, Goodwill and Intangible Assets, and Note to the Consolidated Financial Statements No. 9, Other Assets and Investments; rationalizations, as described in Note to the Consolidated Financial Statements No. 3, Costs Associated with Rationalization Programs; net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 4, Other (Income) Expense; and asset write-offs and accelerated depreciation were not charged to the strategic business units ("SBUs") for performance evaluation purposes but were attributable to the SBUs as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In millions)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Goodwill and Other Asset Impairments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

 

 

$

 

 

$

148

 

 

$

 

Europe, Middle East and Africa

 

 

 

 

 

 

 

 

182

 

 

 

 

Total Goodwill and Other Asset Impairments

 

$

 

 

$

 

 

$

330

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rationalizations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

9

 

 

$

9

 

 

$

81

 

 

$

18

 

Europe, Middle East and Africa

 

 

12

 

 

 

12

 

 

 

48

 

 

 

110

 

Asia Pacific

 

 

4

 

 

 

 

 

 

4

 

 

 

 

Total Rationalizations

 

$

25

 

 

$

21

 

 

$

133

 

 

$

128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (Gains) Losses on Asset Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Europe, Middle East and Africa

 

$

 

 

$

1

 

 

$

2

 

 

$

(5

)

Total Net (Gains) Losses on Asset Sales

 

$

 

 

$

1

 

 

$

2

 

 

$

(5

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset Write-offs and Accelerated Depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

4

 

 

$

 

 

$

93

 

 

$

 

Europe, Middle East and Africa

 

 

 

 

 

1

 

 

 

1

 

 

 

2

 

Total Asset Write-offs and Accelerated Depreciation

 

$

4

 

 

$

1

 

 

$

94

 

 

$

2