SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

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 are attributed to geographic areas based on customer location.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Sales:	($ in millions)
Chlor Alkali Products and Vinyls	$	1,263.5	$	1,062.4	$	3,912.2	$	2,896.7
Epoxy	644.1		877.7		2,206.3		2,390.3
Winchester	414.1		400.0		1,280.7		1,193.2
Total sales	$	2,321.7	$	2,340.1	$	7,399.2	$	6,480.2
Income before taxes:
Chlor Alkali Products and Vinyls	$	253.9	$	263.0	$	929.0	$	703.0
Epoxy	80.1		215.2		358.0		445.7
Winchester	89.0		115.3		327.2		310.3
Corporate/other:
Environmental expense	(7.4)		(3.6)		(18.0)		(8.6)
Other corporate and unallocated costs	(27.5)		(36.8)		(92.8)		(100.7)
Restructuring charges	(7.6)		(3.6)		(14.3)		(24.5)
Other operating income (expense)	13.0		(0.5)		16.3		—
Interest expense	(36.0)		(54.0)		(103.4)		(204.4)
Interest income	0.5		0.1		1.2		0.2
Non-operating pension income	9.9		9.2		29.0		26.7
Income before taxes	$	367.9	$	504.3	$	1,432.2	$	1,147.7

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Sales by geography:	($ in millions)
Chlor Alkali Products and Vinyls
United States	$	870.8	$	730.8	$	2,636.6	$	2,021.4
Europe	80.9		64.3		233.7		133.2
Other foreign	311.8		267.3		1,041.9		742.1
Total Chlor Alkali Products and Vinyls	1,263.5		1,062.4		3,912.2		2,896.7
Epoxy
United States	201.0		263.0		696.7		674.9
Europe	280.3		391.9		993.7		1,115.7
Other foreign	162.8		222.8		515.9		599.7
Total Epoxy	644.1		877.7		2,206.3		2,390.3
Winchester
United States	377.2		354.1		1,180.3		1,092.7
Europe	7.5		8.1		27.0		18.2
Other foreign	29.4		37.8		73.4		82.3
Total Winchester	414.1		400.0		1,280.7		1,193.2
Total
United States	1,449.0		1,347.9		4,513.6		3,789.0
Europe	368.7		464.3		1,254.4		1,267.1
Other foreign	504.0		527.9		1,631.2		1,424.1
Total sales	$	2,321.7	$	2,340.1	$	7,399.2	$	6,480.2

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Sales by product line:	($ in millions)
Chlor Alkali Products and Vinyls
Caustic soda	$	598.4	$	421.8	$	1,752.4	$	1,169.6
Chlorine, chlorine-derivatives and other co-products	665.1		640.6		2,159.8		1,727.1
Total Chlor Alkali Products and Vinyls	1,263.5		1,062.4		3,912.2		2,896.7
Epoxy
Aromatics and allylics	316.8		375.0		1,092.9		1,053.5
Epoxy resins	327.3		502.7		1,113.4		1,336.8
Total Epoxy	644.1		877.7		2,206.3		2,390.3
Winchester
Commercial	271.6		280.9		906.4		823.4
Military and law enforcement	142.5		119.1		374.3		369.8
Total Winchester	414.1		400.0		1,280.7		1,193.2
Total sales	$	2,321.7	$	2,340.1	$	7,399.2	$	6,480.2