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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Information |
| 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 |
Segment geographic data | 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 |
Disaggregation of Revenue |
| 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 |

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