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SEGMENT AND REGIONAL SALES INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Segment Information Disclosure |
(Dollars in millions) | Second Quarter |  | First Six Months
Sales by Segment | 2022 |  | 2021 |  | 2022 |  | 2021
Additives & Functional Products | $ | 835 |  |  | $ | 655 |  |  | $ | 1,640 |  |  | $ | 1,264 |
Advanced Materials | 846 |  |  | 769 |  |  | 1,583 |  |  | 1,485 |
Chemical Intermediates | 861 |  |  | 736 |  |  | 1,660 |  |  | 1,341 |
Fibers | 242 |  |  | 223 |  |  | 455 |  |  | 440 |
Total Sales by Operating Segment | 2,784 |  |  | 2,383 |  |  | 5,338 |  |  | 4,530 |
Other (1) | — |  |  | 270 |  |  | 160 |  |  | 532 |
Total Sales | $ | 2,784 |  |  | $ | 2,653 |  |  | $ | 5,498 |  |  | $ | 5,062 |
(1)"Other" includes sales revenue from the divested rubber additives and adhesives resins businesses previously part of the AFP segment.
(Dollars in millions) | Second Quarter |  | First Six Months
Earnings (Loss) Before Interest and Taxes by Segment | 2022 |  | 2021 |  | 2022 |  | 2021
Additives & Functional Products | $ | 148 |  |  | $ | 109 |  |  | $ | 293 |  |  | $ | 216 |
Advanced Materials | 141 |  |  | 150 |  |  | 202 |  |  | 296 |
Chemical Intermediates | 154 |  |  | 137 |  |  | 288 |  |  | 206 |
Fibers | 37 |  |  | 37 |  |  | 61 |  |  | 82 |
Total Earnings Before Interest and Taxes by Operating Segment | 480 |  |  | 433 |  |  | 844 |  |  | 800 |
Other (1) |  |  |  |  |  |  |
Growth initiatives and businesses not allocated to operating segments | (53) |  |  | (18) |  |  | (85) |  |  | (17) |
Pension and other postretirement benefits income (expense), net not allocated to operating segments | 26 |  |  | 27 |  |  | 49 |  |  | 54 |
Asset impairments and restructuring charges, net | (1) |  |  | (3) |  |  | (1) |  |  | (5) |
Net gain (loss) on divested businesses and transaction costs | 5 |  |  | (495) |  |  | (1) |  |  | (495) |
Steam line incident costs, net of insurance proceeds | (17) |  |  | — |  |  | (42) |  |  | — |
Other income (charges), net not allocated to operating segments | (14) |  |  | — |  |  | (5) |  |  | (4) |
Total Earnings Before Interest and Taxes | $ | 426 |  |  | $ | (56) |  |  | $ | 759 |  |  | $ | 333 |
(1)"Other" includes EBIT of $6 million in first six months 2022 and loss before interest and taxes of $477 million and $449 million in second quarter and first six months 2021, respectively, from the divested rubber additives and adhesives resins businesses previously part of the AFP segment.
(Dollars in millions) | June 30, |  | December 31,
Assets by Segment (1) | 2022 |  | 2021
Additives & Functional Products | $ | 4,211 |  |  | $ | 4,188 |
Advanced Materials | 4,778 |  |  | 4,661 |
Chemical Intermediates | 2,741 |  |  | 2,703 |
Fibers | 1,008 |  |  | 972 |
Total Assets by Operating Segment | 12,738 |  |  | 12,524 |
Corporate & Other Assets | 2,137 |  |  | 2,995 |
Total Assets | $ | 14,875 |  |  | $ | 15,519 |
(1)Segment assets include accounts receivable, inventory, fixed assets, goodwill, and intangible assets. As disclosed in Note 1, "Significant Accounting Policies", December 31, 2021 Assets by Segment have been recast from Note 20, "Segment and Regional Sales Information", to the Company's 2021 Annual Report on Form 10-K. Prior to the recast, December 31, 2021 assets reported for the AFP segment were revised from $4,643 million to $5,195 million, and assets reported for Corporate & Other Assets were revised from $2,540 million to $1,988 million. Total assets were not impacted by the misclassification.
(Dollars in millions) | Second Quarter |  | First Six Months
Sales by Customer Location | 2022 |  | 2021 |  | 2022 |  | 2021
United States and Canada | $ | 1,304 |  |  | $ | 1,197 |  |  | $ | 2,502 |  |  | $ | 2,201 |
Europe, Middle East, and Africa | 681 |  |  | 688 |  |  | 1,426 |  |  | 1,344 |
Asia Pacific | 638 |  |  | 611 |  |  | 1,250 |  |  | 1,219 |
Latin America | 161 |  |  | 157 |  |  | 320 |  |  | 298 |
Total Sales | $ | 2,784 |  |  | $ | 2,653 |  |  | $ | 5,498 |  |  | $ | 5,062 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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