SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 15. 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 and caustic soda used in our Epoxy segment is transferred at cost from the Chlor Alkali Products and Vinyls segment. BWA is consolidated in our 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,
	2023		2022		2023		2022
Sales:	($ in millions)
Chlor Alkali Products and Vinyls	$	969.6	$	1,263.5	$	3,089.0	$	3,912.2
Epoxy	321.6		644.1		1,016.1		2,206.3
Winchester	380.2		414.1		1,113.3		1,280.7
Total sales	$	1,671.4	$	2,321.7	$	5,218.4	$	7,399.2
Income (loss) before taxes:
Chlor Alkali Products and Vinyls	$	172.3	$	253.9	$	598.3	$	929.0
Epoxy	(28.8)		80.1		(7.9)		358.0
Winchester	64.5		89.0		190.2		327.2
Corporate/other:
Environmental expense	(6.9)		(7.4)		(23.1)		(18.0)
Other corporate and unallocated costs	(22.9)		(27.5)		(79.6)		(92.8)
Restructuring charges	(11.9)		(7.6)		(92.0)		(14.3)
Other operating (expense) income	(0.3)		13.0		27.2		16.3
Interest expense	(46.2)		(36.0)		(133.9)		(103.4)
Interest income	1.0		0.5		3.2		1.2
Non-operating pension income	5.9		9.9		17.0		29.0
Income before taxes	$	126.7	$	367.9	$	499.4	$	1,432.2

Other operating (expense) income for the nine months ended September 30, 2023 included a gain of $27.0 million for the sale of our domestic private trucking fleet and operations. Other operating (expense) income for both the three and nine months ended September 30, 2022 included a gain of $13.0 million for the sale of two former manufacturing facilities.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Sales by geography:	($ in millions)
Chlor Alkali Products and Vinyls
United States	$	651.0	$	870.8	$	2,069.8	$	2,636.6
Europe	57.9		80.9		175.3		233.7
Other foreign	260.7		311.8		843.9		1,041.9
Total Chlor Alkali Products and Vinyls	969.6		1,263.5		3,089.0		3,912.2
Epoxy
United States	131.4		201.0		431.8		696.7
Europe	84.8		280.3		258.8		993.7
Other foreign	105.4		162.8		325.5		515.9
Total Epoxy	321.6		644.1		1,016.1		2,206.3
Winchester
United States	327.7		377.2		982.9		1,180.3
Europe	19.8		7.5		43.4		27.0
Other foreign	32.7		29.4		87.0		73.4
Total Winchester	380.2		414.1		1,113.3		1,280.7
Total
United States	1,110.1		1,449.0		3,484.5		4,513.6
Europe	162.5		368.7		477.5		1,254.4
Other foreign	398.8		504.0		1,256.4		1,631.2
Total sales	$	1,671.4	$	2,321.7	$	5,218.4	$	7,399.2

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Sales by product line:	($ in millions)
Chlor Alkali Products and Vinyls
Caustic soda	$	422.3	$	598.4	$	1,424.0	$	1,752.4
Chlorine, chlorine-derivatives and other products	547.3		665.1		1,665.0		2,159.8
Total Chlor Alkali Products and Vinyls	969.6		1,263.5		3,089.0		3,912.2
Epoxy
Aromatics and allylics	116.9		316.8		387.9		1,092.9
Epoxy resins	204.7		327.3		628.2		1,113.4
Total Epoxy	321.6		644.1		1,016.1		2,206.3
Winchester
Commercial	181.2		271.6		581.1		906.4
Military and law enforcement	199.0		142.5		532.2		374.3
Total Winchester	380.2		414.1		1,113.3		1,280.7
Total sales	$	1,671.4	$	2,321.7	$	5,218.4	$	7,399.2