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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment Information |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Segment Detail | ($ in millions)
Sales |  |  |  |  |  |  |
Chlor Alkali Products and Vinyls | $ | 920.3 |  |  | $ | 1,002.3 |  |  | $ | 1,804.9 |  |  | $ | 2,119.4 |
Epoxy | 317.7 |  |  | 333.8 |  |  | 659.0 |  |  | 694.5 |
Winchester | 406.0 |  |  | 366.6 |  |  | 815.4 |  |  | 733.1 |
Total sales | $ | 1,644.0 |  |  | $ | 1,702.7 |  |  | $ | 3,279.3 |  |  | $ | 3,547.0 |
Income before Taxes |  |  |  |  |  |  |
Chlor Alkali Products and Vinyls | $ | 99.3 |  |  | $ | 180.1 |  |  | $ | 175.9 |  |  | $ | 426.0 |
Epoxy | (3.0) |  |  | (0.5) |  |  | (14.8) |  |  | 20.9 |
Winchester | 70.3 |  |  | 64.7 |  |  | 142.5 |  |  | 125.7 |
Corporate/Other: |  |  |  |  |  |  |
Environmental expense | (6.4) |  |  | (13.0) |  |  | (12.2) |  |  | (16.2) |
Other corporate and unallocated costs | (17.0) |  |  | (22.4) |  |  | (42.8) |  |  | (56.7) |
Restructuring charges | (6.8) |  |  | (19.2) |  |  | (15.1) |  |  | (80.1) |
Other operating income | — |  |  | 27.0 |  |  | 0.2 |  |  | 27.5 |
Interest expense | (46.6) |  |  | (45.3) |  |  | (91.2) |  |  | (87.7) |
Interest income | 0.9 |  |  | 1.1 |  |  | 1.7 |  |  | 2.2 |
Non-operating pension income | 5.9 |  |  | 5.4 |  |  | 12.7 |  |  | 11.1 |
Income before taxes | $ | 96.6 |  |  | $ | 177.9 |  |  | $ | 156.9 |  |  | $ | 372.7 |
Other operating income for both the three and six months ended June 30, 2023 included a gain of $27.0 million for the sale of our domestic private trucking fleet and operations.
Disaggregation of Revenue |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Segment Sales by Geography | ($ in millions)
Chlor Alkali Products and Vinyls |  |  |  |  |  |  |
United States | $ | 671.5 |  |  | $ | 652.3 |  |  | $ | 1,307.1 |  |  | $ | 1,418.8 |
Europe | 45.0 |  |  | 45.0 |  |  | 80.8 |  |  | 117.4 |
Other foreign | 203.8 |  |  | 305.0 |  |  | 417.0 |  |  | 583.2 |
Total Chlor Alkali Products and Vinyls | 920.3 |  |  | 1,002.3 |  |  | 1,804.9 |  |  | 2,119.4 |
Epoxy |  |  |  |  |  |  |
United States | 166.8 |  |  | 148.8 |  |  | 338.1 |  |  | 300.4 |
Europe | 74.9 |  |  | 77.4 |  |  | 164.2 |  |  | 174.0 |
Other foreign | 76.0 |  |  | 107.6 |  |  | 156.7 |  |  | 220.1 |
Total Epoxy | 317.7 |  |  | 333.8 |  |  | 659.0 |  |  | 694.5 |
Winchester |  |  |  |  |  |  |
United States | 373.6 |  |  | 325.3 |  |  | 755.7 |  |  | 655.2 |
Europe | 7.4 |  |  | 15.8 |  |  | 14.3 |  |  | 23.6 |
Other foreign | 25.0 |  |  | 25.5 |  |  | 45.4 |  |  | 54.3 |
Total Winchester | 406.0 |  |  | 366.6 |  |  | 815.4 |  |  | 733.1 |
Total |  |  |  |  |  |  |
United States | 1,211.9 |  |  | 1,126.4 |  |  | 2,400.9 |  |  | 2,374.4 |
Europe | 127.3 |  |  | 138.2 |  |  | 259.3 |  |  | 315.0 |
Other foreign | 304.8 |  |  | 438.1 |  |  | 619.1 |  |  | 857.6 |
Total sales | $ | 1,644.0 |  |  | $ | 1,702.7 |  |  | $ | 3,279.3 |  |  | $ | 3,547.0 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Segment Sales by Product Line | ($ in millions)
Chlor Alkali Products and Vinyls |  |  |  |  |  |  |
Caustic soda | $ | 376.8 |  |  | $ | 454.9 |  |  | $ | 732.5 |  |  | $ | 1,001.7 |
Chlorine, chlorine-derivatives and other products | 543.5 |  |  | 547.4 |  |  | 1,072.4 |  |  | 1,117.7 |
Total Chlor Alkali Products and Vinyls | 920.3 |  |  | 1,002.3 |  |  | 1,804.9 |  |  | 2,119.4 |
Epoxy |  |  |  |  |  |  |
Aromatics and allylics | 128.3 |  |  | 128.7 |  |  | 283.2 |  |  | 271.0 |
Epoxy resins | 189.4 |  |  | 205.1 |  |  | 375.8 |  |  | 423.5 |
Total Epoxy | 317.7 |  |  | 333.8 |  |  | 659.0 |  |  | 694.5 |
Winchester |  |  |  |  |  |  |
Commercial | 222.0 |  |  | 199.4 |  |  | 464.8 |  |  | 399.9 |
Military and law enforcement(1) | 184.0 |  |  | 167.2 |  |  | 350.6 |  |  | 333.2 |
Total Winchester | 406.0 |  |  | 366.6 |  |  | 815.4 |  |  | 733.1 |
Total sales | $ | 1,644.0 |  |  | $ | 1,702.7 |  |  | $ | 3,279.3 |  |  | $ | 3,547.0 |
(1) For the three months ended June 30, 2024 and 2023, revenue recognized over time represented $37.8 million and $26.1 million, respectively, and for the six months ended June 30, 2024 and 2023, revenue recognized over time represented $57.6 million and $48.8 million, respectively, associated with governmental contracts within our Winchester business.

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