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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 16. 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.
| 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 $27.0 million for the sale of our domestic private trucking fleet and operations.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Segment Sales by Geography | ($ 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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- 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
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