SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 16. 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.

	Three Months Ended March 31,
	2024		2023
Segment Detail	($ in millions)
Sales
Chlor Alkali Products and Vinyls	$	884.6	$	1,117.1
Epoxy	341.3		360.7
Winchester	409.4		366.5
Total sales	$	1,635.3	$	1,844.3
Income before Taxes
Chlor Alkali Products and Vinyls	$	76.6	$	245.9
Epoxy	(11.8)		21.4
Winchester	72.2		61.0
Corporate/Other:
Environmental expense	(5.8)		(3.2)
Other corporate and unallocated costs	(25.8)		(34.3)
Restructuring charges	(8.3)		(60.9)
Other operating income	0.2		0.5
Interest expense	(44.6)		(42.4)
Interest income	0.8		1.1
Non-operating pension income	6.8		5.7
Income before taxes	$	60.3	$	194.8

	Three Months Ended March 31,
	2024		2023
Segment Sales by Geography	($ in millions)
Chlor Alkali Products and Vinyls
United States	$	635.6	$	766.5
Europe	35.8		72.4
Other foreign	213.2		278.2
Total Chlor Alkali Products and Vinyls	884.6		1,117.1
Epoxy
United States	171.3		151.6
Europe	89.3		96.6
Other foreign	80.7		112.5
Total Epoxy	341.3		360.7
Winchester
United States	382.1		329.9
Europe	6.9		7.9
Other foreign	20.4		28.7
Total Winchester	409.4		366.5
Total
United States	1,189.0		1,248.0
Europe	132.0		176.9
Other foreign	314.3		419.4
Total sales	$	1,635.3	$	1,844.3

	Three Months Ended March 31,
	2024		2023
Segment Sales by Product Line	($ in millions)
Chlor Alkali Products and Vinyls
Caustic soda	$	355.7	$	546.8
Chlorine, chlorine-derivatives and other products	528.9		570.3
Total Chlor Alkali Products and Vinyls	884.6		1,117.1
Epoxy
Aromatics and allylics	154.9		142.3
Epoxy resins	186.4		218.4
Total Epoxy	341.3		360.7
Winchester
Commercial	242.8		200.5
Military and law enforcement(1)	166.6		166.0
Total Winchester	409.4		366.5
Total sales	$	1,635.3	$	1,844.3

(1)    For the three months ended March 31, 2024 and 2023, revenue recognized over time represented $19.8 million and $22.7 million, respectively, associated with governmental contracts within our Winchester business.