SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 12. SEGMENT INFORMATION

We define segment results as income (loss) before interest expense, interest income, other operating income (expense), non-operating pension income, other income and income taxes. We have three operating segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The three operating segments reflect the organization used by our management for purposes of allocating resources and assessing performance. Chlorine used in our Epoxy segment is transferred at cost from the Chlor Alkali Products and Vinyls segment. Sales and profits are recognized in the Chlor Alkali Products and Vinyls segment for all caustic soda generated and sold by Olin. Sales are attributed to geographic areas based on customer location.

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Sales:	($ in millions)
Chlor Alkali Products and Vinyls	$	651.2		$	909.2		$	1,411.1		$	1,781.4
Epoxy	397.4			518.8			874.6			1,042.8
Winchester	192.6			164.9			380.6			322.1
Total sales	$	1,241.2		$	1,592.9		$	2,666.3		$	3,146.3
Income (loss) before taxes:
Chlor Alkali Products and Vinyls	$	(57.0	)	$	70.7		$	(91.3	)	$	191.1
Epoxy	(13.0		)	3.9			(1.3		)	14.4
Winchester	16.0			10.1			26.5			19.2
Corporate/other:
Environmental expense	(2.8		)	(17.2		)	(5.4		)	(19.0		)
Other corporate and unallocated costs	(37.4		)	(35.3		)	(68.5		)	(74.4		)
Restructuring charges	(1.7		)	(3.8		)	(3.4		)	(7.8		)
Other operating income	0.1			0.1			0.1			0.2
Interest expense	(69.4		)	(57.9		)	(132.5		)	(115.3		)
Interest income	0.2			0.3			0.3			0.5
Non-operating pension income	4.9			4.2			9.5			8.1
Other income	—			—			—			11.2
Income (loss) before taxes	$	(160.1	)	$	(24.9	)	$	(266.0	)	$	28.2

Environmental expense for both the three and six months ended June 30, 2019 included $4.8 million of an environmental insurance-related settlement gain.

For the six months ended June 30, 2019, other income included a gain of $11.2 million on the sale of our equity interest in a non-consolidated affiliate.

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Sales by geography:	($ in millions)
Chlor Alkali Products and Vinyls
United States	$	450.3	$	601.0	$	984.2	$	1,205.0
Europe	26.8		39.1		57.0		77.7
Other foreign	174.1		269.1		369.9		498.7
Total Chlor Alkali Products and Vinyls	651.2		909.2		1,411.1		1,781.4
Epoxy
United States	122.5		175.4		281.3		339.5
Europe	140.4		222.6		334.8		458.0
Other foreign	134.5		120.8		258.5		245.3
Total Epoxy	397.4		518.8		874.6		1,042.8
Winchester
United States	178.6		146.8		352.7		288.1
Europe	2.3		2.3		4.8		5.1
Other foreign	11.7		15.8		23.1		28.9
Total Winchester	192.6		164.9		380.6		322.1
Total
United States	751.4		923.2		1,618.2		1,832.6
Europe	169.5		264.0		396.6		540.8
Other foreign	320.3		405.7		651.5		772.9
Total sales	$	1,241.2	$	1,592.9	$	2,666.3	$	3,146.3

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Sales by product line:	($ in millions)
Chlor Alkali Products and Vinyls
Caustic soda	$	320.2	$	461.0	$	680.4	$	923.1
Chlorine, chlorine-derivatives and other co-products	331.0		448.2		730.7		858.3
Total Chlor Alkali Products and Vinyls	651.2		909.2		1,411.1		1,781.4
Epoxy
Aromatics and allylics	167.0		234.8		384.4		478.6
Epoxy resins	230.4		284.0		490.2		564.2
Total Epoxy	397.4		518.8		874.6		1,042.8
Winchester
Commercial	135.6		103.6		262.7		210.0
Military and law enforcement	57.0		61.3		117.9		112.1
Total Winchester	192.6		164.9		380.6		322.1
Total sales	$	1,241.2	$	1,592.9	$	2,666.3	$	3,146.3