SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 20. 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. Sales are attributed to geographic areas based on customer location.

	Years ended December 31,
	2023		2022		2021
Segment Detail	($ in millions)
Sales
Chlor Alkali Products and Vinyls	$	3,995.1	$	5,085.0	$	4,140.8
Epoxy	1,329.2		2,690.5		3,186.0
Winchester	1,508.7		1,600.7		1,583.8
Total sales	$	6,833.0	$	9,376.2	$	8,910.6
Income before Taxes
Chlor Alkali Products and Vinyls	$	664.2	$	1,181.3	$	997.8
Epoxy	(31.0)		388.5		616.5
Winchester	255.6		372.9		412.1
Corporate/Other:
Environmental expense	(23.7)		(23.2)		(14.0)
Other corporate and unallocated costs	(106.3)		(131.5)		(135.1)
Restructuring charges	(89.6)		(25.3)		(27.9)
Other operating income	42.9		16.3		1.4
Interest expense	(181.1)		(143.9)		(348.0)
Interest income	4.3		2.2		0.2
Non-operating pension income	24.0		38.7		35.7
Income before taxes	$	559.3	$	1,676.0	$	1,538.7
Depreciation and Amortization Expense
Chlor Alkali Products and Vinyls	$	440.7	$	482.2	$	466.4
Epoxy	57.4		83.3		86.1
Winchester	27.2		24.6		23.3
Corporate/Other	8.1		8.7		6.7
Total depreciation and amortization expense	$	533.4	$	598.8	$	582.5
Capital Spending
Chlor Alkali Products and Vinyls	$	161.1	$	151.4	$	130.2
Epoxy	15.2		27.2		31.0
Winchester	33.3		31.0		28.5
Corporate/Other	26.4		27.3		10.9
Total capital spending	$	236.0	$	236.9	$	200.6

Segment assets include only those assets which are directly identifiable to an operating segment. Assets of the corporate/other segment include primarily such items as cash and cash equivalents, deferred taxes and other assets.

	December 31,
	2023		2022
Assets by Segment	($ in millions)
Chlor Alkali Products and Vinyls	$	5,650.2	$	5,782.2
Epoxy	979.3		1,201.9
Winchester	683.6		595.0
Corporate/Other	400.1		465.1
Total assets	$	7,713.2	$	8,044.2

Property, plant and equipment is attributed to geographic areas based on the asset location, and sales are attributed to geographic areas based on the customer location.

	December 31,
	2023		2022
Property, Plant and Equipment by Geography	($ in millions)
United States	$	2,302.7	$	2,434.4
Foreign	216.9		239.7
Total property, plant and equipment	$	2,519.6	$	2,674.1

	Years ended December 31,
	2023		2022		2021
Sales by Geography	($ in millions)
Chlor Alkali Products and Vinyls
United States	$	2,700.0	$	3,400.0	$	2,839.1
Europe	207.9		331.9		203.5
Other foreign	1,087.2		1,353.1		1,098.2
Total Chlor Alkali Products and Vinyls	3,995.1		5,085.0		4,140.8
Epoxy
United States	562.8		855.1		926.7
Europe	338.5		1,181.8		1,457.9
Other foreign	427.9		653.6		801.4
Total Epoxy	1,329.2		2,690.5		3,186.0
Winchester
United States	1,336.6		1,467.0		1,502.2
Europe	57.3		34.1		19.4
Other foreign	114.8		99.6		62.2
Total Winchester	1,508.7		1,600.7		1,583.8
Total
United States	4,599.4		5,722.1		5,268.0
Europe	603.7		1,547.8		1,680.8
Other foreign	1,629.9		2,106.3		1,961.8
Total sales	$	6,833.0	$	9,376.2	$	8,910.6

	Years ended December 31,
	2023		2022		2021
Sales by Product Line	($ in millions)
Chlor Alkali Products and Vinyls
Caustic soda	$	1,790.0	$	2,389.1	$	1,869.3
Chlorine, chlorine derivatives and other products	2,205.1		2,695.9		2,271.5
Total Chlor Alkali Products and Vinyls	3,995.1		5,085.0		4,140.8
Epoxy
Aromatics and allylics	525.1		1,338.6		1,450.5
Epoxy resins	804.1		1,351.9		1,735.5
Total Epoxy	1,329.2		2,690.5		3,186.0
Winchester
Commercial	806.5		1,079.1		1,104.1
Military and law enforcement	702.2		521.6		479.7
Total Winchester	1,508.7		1,600.7		1,583.8
Total sales	$	6,833.0	$	9,376.2	$	8,910.6