XML 44 R27.htm IDEA: XBRL DOCUMENT
v3.24.0.1

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 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration