XML 53 R42.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Information |
| Three Months Ended June 30, 2025
| Chlor Alkali Products and Vinyls |  | Epoxy |  | Winchester |  | Corp/Other |  | Totals
Segment Detail | ($ in millions)
Sales | $ | 979.5 |  |  | $ | 331.2 |  |  | $ | 447.6 |  |  | $ | — |  |  | $ | 1,758.3 |
Cost of goods sold | 871.8 |  |  | 340.0 |  |  | 402.6 |  |  | 5.8 |  |  | 1,620.2 |
Gross margin | 107.7 |  |  | (8.8) |  |  | 45.0 |  |  | (5.8) |  |  | 138.1 |
Other segment items | (42.8) |  |  | (14.9) |  |  | (20.0) |  |  | (18.9) |  |  | (96.6) |
Restructuring charges | — |  |  | — |  |  | — |  |  | (7.4) |  |  | (7.4) |
Other operating expense | — |  |  | — |  |  | — |  |  | (0.2) |  |  | (0.2) |
Interest expense | — |  |  | — |  |  | — |  |  | (46.8) |  |  | (46.8) |
Interest income | — |  |  | — |  |  | — |  |  | 1.2 |  |  | 1.2 |
Non-operating pension income | — |  |  | — |  |  | — |  |  | 4.9 |  |  | 4.9 |
Income (loss) before taxes | $ | 64.9 |  |  | $ | (23.7) |  |  | $ | 25.0 |  |  | $ | (73.0) |  |  | $ | (6.8) |
Other Items |  |  |  |  |  |  |  |  |
Depreciation and amortization expense | $ | 106.3 |  |  | $ | 13.1 |  |  | $ | 7.9 |  |  | $ | 2.6 |  |  | $ | 129.9 |
Capital spending | 14.2 |  |  | 2.0 |  |  | 11.7 |  |  | 3.1 |  |  | 31.0 |
Assets | 5,277.4 |  |  | 949.3 |  |  | 866.7 |  |  | 574.5 |  |  | 7,667.9 |
Segment Sales by Geography |  |  |  |  |  |  |  |  |
United States | $ | 664.2 |  |  | $ | 140.8 |  |  | $ | 396.9 |  |  | $ | — |  |  | $ | 1,201.9 |
Europe | 42.0 |  |  | 93.4 |  |  | 20.4 |  |  | — |  |  | 155.8 |
Other foreign | 273.3 |  |  | 97.0 |  |  | 30.3 |  |  | — |  |  | 400.6 |
Total sales | $ | 979.5 |  |  | $ | 331.2 |  |  | $ | 447.6 |  |  | $ | — |  |  | $ | 1,758.3 |
| Six Months Ended June 30, 2025
| Chlor Alkali Products and Vinyls |  | Epoxy |  | Winchester |  | Corp/Other |  | Totals
Segment Detail | ($ in millions)
Sales | $ | 1,904.0 |  |  | $ | 662.9 |  |  | $ | 835.6 |  |  | $ | — |  |  | $ | 3,402.5 |
Cost of goods sold | 1,673.8 |  |  | 685.1 |  |  | 745.2 |  |  | 11.6 |  |  | 3,115.7 |
Gross margin | 230.2 |  |  | (22.2) |  |  | 90.4 |  |  | (11.6) |  |  | 286.8 |
Other segment items | (87.0) |  |  | (29.9) |  |  | (42.6) |  |  | (38.1) |  |  | (197.6) |
Restructuring charges | — |  |  | — |  |  | — |  |  | (11.4) |  |  | (11.4) |
Other operating expense | — |  |  | — |  |  | — |  |  | (0.2) |  |  | (0.2) |
Interest expense | — |  |  | — |  |  | — |  |  | (95.3) |  |  | (95.3) |
Interest income | — |  |  | — |  |  | — |  |  | 2.4 |  |  | 2.4 |
Non-operating pension income | — |  |  | — |  |  | — |  |  | 10.6 |  |  | 10.6 |
Income (loss) before taxes | $ | 143.2 |  |  | $ | (52.1) |  |  | $ | 47.8 |  |  | $ | (143.6) |  |  | $ | (4.7) |
Other Items |  |  |  |  |  |  |  |  |
Depreciation and amortization expense | $ | 213.5 |  |  | $ | 25.9 |  |  | $ | 17.4 |  |  | $ | 5.3 |  |  | $ | 262.1 |
Capital spending | 51.8 |  |  | 12.8 |  |  | 22.8 |  |  | 5.0 |  |  | 92.4 |
Assets | 5,277.4 |  |  | 949.3 |  |  | 866.7 |  |  | 574.5 |  |  | 7,667.9 |
Segment Sales by Geography |  |  |  |  |  |  |  |  |
United States | $ | 1,311.1 |  |  | $ | 284.9 |  |  | $ | 743.1 |  |  | $ | — |  |  | $ | 2,339.1 |
Europe | 75.2 |  |  | 195.2 |  |  | 33.0 |  |  | — |  |  | 303.4 |
Other foreign | 517.7 |  |  | 182.8 |  |  | 59.5 |  |  | — |  |  | 760.0 |
Total sales | $ | 1,904.0 |  |  | $ | 662.9 |  |  | $ | 835.6 |  |  | $ | — |  |  | $ | 3,402.5 |
| Three Months Ended June 30, 2024
| Chlor Alkali Products and Vinyls |  | Epoxy |  | Winchester |  | Corp/Other |  | Totals
Segment Detail | ($ in millions)
Sales | $ | 920.3 |  |  | $ | 317.7 |  |  | $ | 406.0 |  |  | $ | — |  |  | $ | 1,644.0 |
Cost of goods sold | 778.5 |  |  | 307.6 |  |  | 312.8 |  |  | 7.3 |  |  | 1,406.2 |
Gross margin | 141.8 |  |  | 10.1 |  |  | 93.2 |  |  | (7.3) |  |  | 237.8 |
Other segment items | (42.5) |  |  | (13.1) |  |  | (22.9) |  |  | (16.1) |  |  | (94.6) |
Restructuring charges | — |  |  | — |  |  | — |  |  | (6.8) |  |  | (6.8) |
Interest expense | — |  |  | — |  |  | — |  |  | (46.6) |  |  | (46.6) |
Interest income | — |  |  | — |  |  | — |  |  | 0.9 |  |  | 0.9 |
Non-operating pension income | — |  |  | — |  |  | — |  |  | 5.9 |  |  | 5.9 |
Income (loss) before taxes | $ | 99.3 |  |  | $ | (3.0) |  |  | $ | 70.3 |  |  | $ | (70.0) |  |  | $ | 96.6 |
Other Items |  |  |  |  |  |  |  |  |
Depreciation and amortization expense | $ | 105.9 |  |  | $ | 13.4 |  |  | $ | 8.2 |  |  | $ | 1.5 |  |  | $ | 129.0 |
Capital spending | 46.8 |  |  | 5.5 |  |  | 7.0 |  |  | 0.1 |  |  | 59.4 |
Assets | 5,428.1 |  |  | 992.4 |  |  | 765.1 |  |  | 475.0 |  |  | 7,660.6 |
Segment Sales by Geography |  |  |  |  |  |  |  |  |
United States | $ | 671.5 |  |  | $ | 166.8 |  |  | $ | 351.2 |  |  | $ | — |  |  | $ | 1,189.5 |
Europe | 45.0 |  |  | 74.9 |  |  | 34.6 |  |  | — |  |  | 154.5 |
Other foreign | 203.8 |  |  | 76.0 |  |  | 20.2 |  |  | — |  |  | 300.0 |
Total sales | $ | 920.3 |  |  | $ | 317.7 |  |  | $ | 406.0 |  |  | $ | — |  |  | $ | 1,644.0 |
| Six Months Ended June 30, 2024
| Chlor Alkali Products and Vinyls |  | Epoxy |  | Winchester |  | Corp/Other |  | Totals
Segment Detail | ($ in millions)
Sales | $ | 1,804.9 |  |  | $ | 659.0 |  |  | $ | 815.4 |  |  | $ | — |  |  | $ | 3,279.3 |
Cost of goods sold | 1,544.5 |  |  | 646.7 |  |  | 629.1 |  |  | 13.9 |  |  | 2,834.2 |
Gross margin | 260.4 |  |  | 12.3 |  |  | 186.3 |  |  | (13.9) |  |  | 445.1 |
Other segment items | (84.5) |  |  | (27.1) |  |  | (43.8) |  |  | (41.1) |  |  | (196.5) |
Restructuring charges | — |  |  | — |  |  | — |  |  | (15.1) |  |  | (15.1) |
Other operating income | — |  |  | — |  |  | — |  |  | 0.2 |  |  | 0.2 |
Interest expense | — |  |  | — |  |  | — |  |  | (91.2) |  |  | (91.2) |
Interest income | — |  |  | — |  |  | — |  |  | 1.7 |  |  | 1.7 |
Non-operating pension income | — |  |  | — |  |  | — |  |  | 12.7 |  |  | 12.7 |
Income (loss) before taxes | $ | 175.9 |  |  | $ | (14.8) |  |  | $ | 142.5 |  |  | $ | (146.7) |  |  | $ | 156.9 |
Other Items |  |  |  |  |  |  |  |  |
Depreciation and amortization expense | $ | 212.6 |  |  | $ | 26.9 |  |  | $ | 16.2 |  |  | $ | 3.0 |  |  | $ | 258.7 |
Capital spending | 74.9 |  |  | 10.4 |  |  | 15.1 |  |  | 0.4 |  |  | 100.8 |
Assets | 5,428.1 |  |  | 992.4 |  |  | 765.1 |  |  | 475.0 |  |  | 7,660.6 |
Segment Sales by Geography |  |  |  |  |  |  |  |  |
United States | $ | 1,307.1 |  |  | $ | 338.1 |  |  | $ | 733.2 |  |  | $ | — |  |  | $ | 2,378.4 |
Europe | 80.8 |  |  | 164.2 |  |  | 47.5 |  |  | — |  |  | 292.5 |
Other foreign | 417.0 |  |  | 156.7 |  |  | 34.7 |  |  | — |  |  | 608.4 |
Total sales | $ | 1,804.9 |  |  | $ | 659.0 |  |  | $ | 815.4 |  |  | $ | — |  |  | $ | 3,279.3 |
Disaggregation of Revenue |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Segment Sales by Product Line | ($ in millions)
Chlor Alkali Products and Vinyls |  |  |  |  |  |  |
Caustic soda | $ | 435.1 |  |  | $ | 376.8 |  |  | $ | 821.9 |  |  | $ | 732.5 |
Chlorine, chlorine-derivatives and other products | 544.4 |  |  | 543.5 |  |  | 1,082.1 |  |  | 1,072.4 |
Total Chlor Alkali Products and Vinyls | 979.5 |  |  | 920.3 |  |  | 1,904.0 |  |  | 1,804.9 |
Epoxy |  |  |  |  |  |  |
Aromatics and allylics | 130.8 |  |  | 128.3 |  |  | 271.8 |  |  | 283.2 |
Epoxy resins | 200.4 |  |  | 189.4 |  |  | 391.1 |  |  | 375.8 |
Total Epoxy | 331.2 |  |  | 317.7 |  |  | 662.9 |  |  | 659.0 |
Winchester |  |  |  |  |  |  |
Commercial | 169.7 |  |  | 222.0 |  |  | 325.6 |  |  | 464.8 |
Military and law enforcement(1) | 277.9 |  |  | 184.0 |  |  | 510.0 |  |  | 350.6 |
Total Winchester | 447.6 |  |  | 406.0 |  |  | 835.6 |  |  | 815.4 |
Total sales | $ | 1,758.3 |  |  | $ | 1,644.0 |  |  | $ | 3,402.5 |  |  | $ | 3,279.3 |
(1) For the three months ended June 30, 2025 and 2024, revenue recognized over time represented $94.4 million and $37.8 million, respectively, and for the six months ended June 30, 2025 and 2024, revenue recognized over time represented $152.9 million and $57.6 million, respectively, associated with governmental contracts within our Winchester business.

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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