We disclose the results of each of our reporting segments in accordance with ASC 280, Segment Reporting. Each of the reporting segments is separately managed by a senior executive who is a member of our Executive Committee (“EXCOM”). Our EXCOM is led by our Chief Executive Officer, who is the chief operating decision maker (“CODM”). Discrete financial information is available for each of the segments, and the EXCOM uses the operating results of each of the reporting segments for performance evaluation and resource allocation.

Following completion of the Combination, during the second quarter of 2018, we reorganized our operations into five business segments, which represented our reporting segments: North, Central and South America (“NCSA”); Europe, Africa, Russia and Caspian (“EARC”); the Middle East and North Africa (“MENA”); Asia Pacific (“APAC”); and Technology.

In 2019, we performed a review of our business portfolio, which included businesses acquired in the Combination. Our review sought to determine if any portions of our business were non-core for purposes of our vertically integrated offering model. This review initially identified our pipe fabrication and industrial storage tank businesses as non-core. We completed the sale of Alloy Piping Products (“APP”), a portion of the pipe fabrication business, during the second quarter of 2019 and we are continuing to pursue the sale of the remaining portion of the pipe fabrication business. In the third quarter of 2019, we terminated the previously announced sale process for our industrial storage tank business, as we concluded that the net cash proceeds from the sale, if completed, would likely be significantly below initial expectations. As a result of our decision to retain this business, starting January 1, 2020, we changed the structure of our internal organization and formed a new reporting segment for our industrial storage tank business (“Storage Solutions”).

As discussed in Note 2, Basis of Presentation, and Note 4, Discontinued Operations, our former Technology reporting segment has been classified as a discontinued operation.

We now report financial results under five operating groups, which represent our reporting segments consisting of: NCSA; EARC; MENA; APAC; and Storage Solutions. The segment information for the prior periods presented has been recast to conform to the current presentation.

We also report certain corporate and other non-operating activities under the heading “Corporate and Other.” Corporate and Other primarily reflects corporate expenses, certain centrally managed initiatives (such as reorganization and restructuring activities), impairments, year-end mark-to-market pension actuarial gains and losses, costs not attributable to a particular reporting segment and unallocated direct operating expenses associated with the underutilization of vessels, fabrication facilities and engineering resources.

Intersegment sales are recorded at prices we generally establish by reference to similar transactions with unaffiliated customers and were not material during the three months ended March 31, 2020 or 2019 and are eliminated upon consolidation.

Revenue and operating results from continuing operations for the three months ended March 31, 2020 and 2019 were as follows:

	Three Months Ended March 31,
	2020			2019
	(In millions)
Revenues:
NCSA	$	834		$	1,225
EARC		214			139
MENA		423			353
APAC		227			130
Storage Solutions		208			216
Total revenues	$	1,906		$	2,063

Operating income (loss):
Segment operating income (loss), prior to goodwill impairment:
NCSA	$	15		$	63
EARC		(9	)		6
MENA		(19	)		65
APAC		5			12
Storage Solutions		12			13
Total segment operating income, prior to goodwill impairment		4			159
Goodwill impairment ⁽¹⁾		(91	)		-
Total segment operating (loss) income		(87	)		159
Corporate ⁽²⁾		(964	)		(184	)
Total operating loss	$	(1,051	)	$	(25	)

⁽¹⁾In the first quarter of 2020, we recognized $91 million of goodwill impairment associated with our EARC reporting segment, as discussed in Note 8, Goodwill and Other Intangible Assets.

⁽²⁾In the first quarter of 2020, in our Corporate results we recognized approximately $884 million impairment charge associated primarily with our vessels and fabrication yards, as discussed in Note 15, Fair Value Measurements.

Depreciation and amortization expense and capital expenditures for the three months ended March 31, 2020 and 2019 were as follows:

	Three Months Ended March 31,
	2020		2019
	(In millions)
Depreciation and amortization:
NCSA	$	8	$	10
EARC		2		3
MENA		5		9
APAC		3		5
Storage Solutions		11		11
Corporate		15		20
Depreciation and amortization - continuing operations		44		58
Depreciation and amortization - discontinued operations		16		18
Total depreciation and amortization	$	60	$	76

Capital expenditures ⁽¹⁾:
NCSA	$	1	$	3
EARC		-		-
MENA		5		3
APAC		3		5
Storage Solutions		-		1
Corporate		16		6
Capital expenditures - continuing operations		25		18
Capital expenditures - discontinued operations		-		-
Total capital expenditures	$	25	$	18

Segment assets for continuing operations and discontinued operations as of March 31, 2020 and December 31, 2019 were as follows:

	March 31, 2020		December 31, 2019
	(In millions)
Segment assets ⁽¹⁾:
NCSA	$	1,657	$	1,526
EARC		453		523
MENA		1,123		1,195
APAC		734		1,447
Storage Solutions		535		523
Corporate		1,347		1,044
Total assets - continuing operations	$	5,849	$	6,258
Total assets - discontinued operations		2,451		2,479
Total assets	$	8,300	$	8,737