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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Information |
Schedule of segment reporting of net sales, operating income and total assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |  | 2018 | ​
Net sales to unaffiliated customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 3,662 | ​ | $ | 3,834 | ​ | $ | 3,857 | ​
South America | ​ | ​ | 919 | ​ | ​ | 960 | ​ | ​ | 988 | ​
Asia-Pacific | ​ | ​ | 813 | ​ | ​ | 823 | ​ | ​ | 837 | ​
EMEA | ​ | ​ | 593 | ​ | ​ | 592 | ​ | ​ | 607 | ​
Total | ​ | $ | 5,987 | ​ | $ | 6,209 | ​ | $ | 6,289 | ​
Presented below is the Company’s operating income by reportable segment for the years ended December 31, 2020, 2019, and 2018. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) | ​ | ​ | 2020 | ​ |  | 2019 |  | 2018
Operating income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 487 | ​ | $ | 522 | ​ | $ | 545 | ​
South America | ​ | ​ | 112 | ​ | ​ | 96 | ​ | ​ | 99 | ​
Asia-Pacific | ​ | ​ | 80 | ​ | ​ | 87 | ​ | ​ | 104 | ​
EMEA | ​ | ​ | 102 | ​ | ​ | 99 | ​ | ​ | 116 | ​
Corporate | ​ | ​ | (122) | ​ | ​ | (99) | ​ | ​ | (97) | ​
Subtotal | ​ | ​ | 659 | ​ | ​ | 705 | ​ | ​ | 767 | ​
Restructuring/impairment charges (a) | ​ | ​ | (93) | ​ | ​ | (57) | ​ | ​ | (64) | ​
Acquisition/integration costs | ​ | ​ | (11) | ​ | ​ | (3) | ​ | ​ | — | ​
Brazil tax matter (b) | ​ | ​ | 36 | ​ | ​ | 22 | ​ | ​ | — | ​
Charge for fair value markup of acquired inventory | ​ | ​ | (6) | ​ | ​ | — | ​ | ​ | — | ​
North America storm damage | ​ | ​ | (3) | ​ | ​ | — | ​ | ​ | — | ​
Other | ​ | ​ | — | ​ | ​ | (3) | ​ | ​ | — | ​
Total operating income | ​ | $ | 582 | ​ | $ | 664 | ​ | $ | 703 | ​
| (a) | The year ended December 31, 2020 includes $93 million of restructuring and impairment expenses, including $23 million of net restructuring related expenses as part of the Cost Smart Cost of sales program, $25 million of net restructuring related expenses as part of the Cost Smart SG&A program, and $45 million in impairment charges. The year ended December 31, 2019 includes $57 million of restructuring expenses, including $29 million of net restructuring related expenses as part of the Cost Smart Cost of sales program and $28 million of employee-related and other costs, including professional services, associated with the Cost Smart SG&A program. The year ended December 31, 2018 includes $49 million of restructuring expenses as part of the Cost Smart Cost of sales program in relation to the cessation of wet-milling at the Stockton, California manufacturing facility, $11 million of restructuring costs related to Cost Smart SG&A program, $3 million of costs related to the North America finance transformation program, and $1 million of costs related to the leaf extraction process in Brazil.
​
| (b) | In the year ended December 31, 2019 the Company received a favorable judgment from the Federal Court of Appeals in Brazil related to certain indirect taxes collected in prior years. To account for the judgment, the Company recorded a $22 million pre-tax benefit for the favorable judgment, in accordance with ASC 450, Contingencies during the three and twelve months ended December 31, 2019. In the year ended December 31, 2020, the Company received another favorable court judgment that further clarifies the calculation of the Company's benefit, resulting in a larger indirect tax claim against the government. As a result, the Company recorded an additional $35 million pre-tax benefits during the three and twelve months ended December 31, 2020. The Company expects to be entitled to credits against its Brazilian federal tax payments in 2021 and future years. The total benefit recorded represents the Company's current estimate of the credits and interest due from the favorable decision in accordance with ASC 450, Contingencies. In addition, the Company received a second favorable ruling in Brazil reversing the taxes previously paid related to a government subsidy. The Company recorded pre-tax benefits of $1 million and tax provision benefit of $3 million related to this second ruling during the three months ended December 31, 2020.
​ Presented below are the Company’s total assets by reportable segment as of December 31, 2020 and 2019.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, | ​
(in millions) | ​ | 2020 |  | 2019 | ​
Total assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America (a) | ​ | $ | 4,231 | ​ | $ | 3,924 | ​
South America | ​ | ​ | 818 | ​ | ​ | 774 | ​
Asia-Pacific | ​ | ​ | 1,255 | ​ | ​ | 843 | ​
EMEA | ​ | ​ | 554 | ​ | ​ | 499 | ​
Total | ​ | $ | 6,858 | ​ | $ | 6,040 | ​
| (a) | For purposes of presentation, North America includes Corporate assets.
​ ​ ​ ​ ​ ​ ​ ​ Presented below are the Company’s depreciation and amortization, mechanical stores expense, and capital expenditures and mechanical stores purchases by reportable segment for the years ended December 31, 2020, 2019, and 2018. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) | ​ | 2020 |  | 2019 |  | 2018
Depreciation and amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America (a) | ​ | $ | 147 | ​ | $ | 146 | ​ | $ | 180
South America | ​ | ​ | 19 | ​ | ​ | 22 | ​ | ​ | 24
Asia-Pacific | ​ | ​ | 32 | ​ | ​ | 37 | ​ | ​ | 27
EMEA | ​ | ​ | 15 | ​ | ​ | 15 | ​ | ​ | 16
Total | ​ | $ | 213 | ​ | $ | 220 | ​ | $ | 247
Mechanical stores expense (b): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America (a) | ​ | $ | 39 | ​ | $ | 40 | ​ | $ | 38
South America | ​ | ​ | 7 | ​ | ​ | 10 | ​ | ​ | 11
Asia-Pacific | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | 5
EMEA | ​ | ​ | 4 | ​ | ​ | 3 | ​ | ​ | 3
Total | ​ | $ | 54 | ​ | $ | 57 | ​ | $ | 57
Capital expenditures and mechanical stores purchases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America (a) | ​ | $ | 243 | ​ | $ | 226 | ​ | $ | 232
South America | ​ | ​ | 39 | ​ | ​ | 45 | ​ | ​ | 61
Asia-Pacific | ​ | ​ | 46 | ​ | ​ | 40 | ​ | ​ | 39
EMEA | ​ | ​ | 12 | ​ | ​ | 17 | ​ | ​ | 18
Total | ​ | $ | 340 | ​ | $ | 328 | ​ | $ | 350
| (a) | For purposes of presentation, North America includes Corporate activities of depreciation, amortization, and capital expenditures, respectively.
| (b) | Represents spare parts used in the production process. Such spare parts are recorded in PP&E as part of machinery and equipment until they are utilized in the manufacturing process and expensed as a period cost.
Schedule of net sales to unaffiliated customers by country of origin | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Sales | ​
(in millions) | ​ | 2020 | ​ | 2019 | ​ | 2018 |
U.S. | ​ | $ | 2,284 | ​ | $ | 2,368 | ​ | $ | 2,386 | ​
Mexico | ​ | ​ | 984 | ​ | ​ | 1,075 | ​ | ​ | 1,067 | ​
Brazil | ​ | ​ | 447 | ​ | ​ | 479 | ​ | ​ | 478 | ​
Canada | ​ | ​ | 393 | ​ | ​ | 390 | ​ | ​ | 404 | ​
Korea | ​ | ​ | 268 | ​ | ​ | 270 | ​ | ​ | 296 | ​
Others | ​ | ​ | 1,611 | ​ | ​ | 1,627 | ​ | ​ | 1,658 | ​
Total | ​ | $ | 5,987 | ​ | $ | 6,209 | ​ | $ | 6,289 | ​
Schedule of long-lived assets (excluding intangible assets) by country | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Long-lived Assets
(in millions) |  | 2020 |  | 2019
U.S. | ​ | $ | 1,276 | ​ | $ | 1,239
Mexico | ​ | ​ | 342 | ​ | ​ | 343
Canada | ​ | ​ | 245 | ​ | ​ | 187
Brazil | ​ | ​ | 202 | ​ | ​ | 205
Thailand | ​ | ​ | 165 | ​ | ​ | 156
Germany | ​ | ​ | 137 | ​ | ​ | 129
Korea | ​ | ​ | 116 | ​ | ​ | 110
Others | ​ | ​ | 359 | ​ | ​ | 260
Total | ​ | $ | 2,842 | ​ | $ | 2,629

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