Geographic and Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Net Sales and Property, Plant and Equipment, Net by Geographical Area

The following table sets forth the geographic locations of the Company’s net sales for the years ended and property, plant, and equipment, net as of December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020				2019				2018
	Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net		Net Sales (1)		Property, Plant, and Equipment, Net
North America	$	1,914	$	2,461	$	2,144	$	2,533	$	2,378	$	2,279
Asia Pacific		1,384		121		1,543		121		1,720		124
Europe, the Middle East, and Africa		1,086		324		1,163		294		1,685		293
Latin America (2)		585		568		676		611		855		595
Total	$	4,969	$	3,474	$	5,526	$	3,559	$	6,638	$	3,291

(1)

Net sales are attributed to countries based on customer location.

(2)

Latin America includes Mexico.

Schedule of Segment Information

The following table sets forth certain summary financial information for the Company’s reportable segments as of, and for the years ended, December 31, 2020, 2019, and 2018.

Year Ended December 31,	Titanium Technologies		Thermal & Specialized Solutions		Advanced Performance Materials		Chemical Solutions		Segment Total
2020
Net sales to external customers (1)	$	2,402	$	1,105	$	1,104	$	358	$	4,969
Adjusted EBITDA		510		354		126		73		1,063
Depreciation and amortization		128		53		88		21		290
Equity in earnings of affiliates		—		6		17		—		23
Total assets		2,130		1,041		1,520		531		5,222
Investments in affiliates		—		66		101		—		167
Purchases of property, plant, and equipment		89		28		109		25		251

2019
Net sales to external customers (1)	$	2,345	$	1,318	$	1,330	$	533	$	5,526
Adjusted EBITDA		505		398		180		80		1,163
Depreciation and amortization		121		52		84		22		279
Equity in earnings of affiliates		—		11		18		—		29
Total assets		2,291		1,061		1,521		574		5,447
Investments in affiliates		—		64		98		—		162
Purchases of property, plant, and equipment		121		32		169		40		362

2018
Net sales to external customers (1)	$	3,174	$	1,497	$	1,365	$	602	$	6,638
Adjusted EBITDA		1,055		542		241		64		1,902
Depreciation and amortization		119		37		80		20		256
Equity in earnings of affiliates		—		17		26		—		43
Total assets		2,354		1,187		1,557		623		5,721
Investments in affiliates		—		61		99		—		160
Purchases of property, plant, and equipment		91		156		118		75		440

(1)

Segment net sales to external customers are provided by product group in “Note 5 – Net Sales”.

Summary of Reconciliation for Summary Financial Information for Reportable Segments

The following table sets forth a reconciliation for instances in which the above summary financial information for the Company’s reportable segments does not sum to consolidated amounts.

Year Ended December 31,	Segment Total		Corporate and Other		Total Consolidated
2020
Depreciation and amortization	$	290	$	30	$	320
Total assets		5,222		1,860		7,082
Purchases of property, plant, and equipment		251		16		267

2019
Depreciation and amortization	$	279	$	32	$	311
Total assets		5,447		1,811		7,258
Purchases of property, plant, and equipment		362		119		481

2018
Depreciation and amortization	$	256	$	28	$	284
Total assets		5,721		1,641		7,362
Purchases of property, plant, and equipment		440		58		498

Reconciliation of Segment Adjusted EBITDA from Segments to Consolidated Income (Loss) Before Income Taxes

The following table sets forth a reconciliation of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Segment Adjusted EBITDA	$	1,063		$	1,163		$	1,902
Corporate and Other expenses (excluding items below)		(184	)		(143	)		(162	)
Interest expense, net		(210	)		(208	)		(195	)
Depreciation and amortization		(320	)		(311	)		(284	)
Non-operating pension and other post-retirement employee benefit income (cost) (1)		1			(368	)		27
Exchange (losses) gains, net		(26	)		(2	)		1
Restructuring, asset-related, and other charges (2)		(80	)		(87	)		(49	)
Loss on extinguishment of debt		(22	)		—			(38	)
Gain on sales of assets and businesses (3)		8			10			45
Transaction costs (4)		(2	)		(3	)		(9	)
Legal and environmental charges (5)		(49	)		(175	)		(82	)
Other charges		—			—			(1	)
Income (loss) before income taxes	$	179		$	(124	)	$	1,155

(1)

The year ended December 31, 2019 includes a $380 settlement loss related to a significant portion of the Company’s Netherlands pension plan, specific to the vested pension benefits of the inactive participants. Refer to “Note 27 – Long-term Employee Benefits” for further details.

(2)

Includes restructuring, asset-related, and other charges, which are discussed in further detail in “Note 7 – Restructuring, Asset-related, and Other Charges”.

(3)

The year ended December 31, 2020 includes a gain of $6 recognized in connection with the sale of the Company’s Oakley, California site. The year ended December 31, 2019 includes a non-cash gain of $9 recognized in connection with the sale of the Company’s Repauno, New Jersey site. The year ended December 31, 2018 includes gains of $3 and $42 recognized in connection with the sales of the Company’s East Chicago, Indiana and Linden, New Jersey sites, respectively.

(4)

Includes costs associated with the Company’s debt transactions, as well as accounting, legal, and bankers’ transaction costs incurred in connection with the Company’s strategic initiatives.

(5)

Legal charges pertain to litigation settlements, PFOA drinking water treatment accruals, and other legal charges. The year ended December 31, 2020 includes $29 incurred in connection with the Company’s portion of the costs to settle PFOA multi-district litigation in Ohio. Environmental charges pertain to management’s assessment of estimated liabilities associated with on-site remediation, off-site groundwater remediation, and toxicity studies related to Fayetteville. The year ended December 31, 2020 includes $5 primarily related to detailed engineering design for on-site remediation projects at Fayetteville, as well as $8 based on the aforementioned assessment associated with certain estimated liabilities at Fayetteville. The year ended December 31, 2019 includes $168 in additional charges related to the approved final Consent Order associated with certain matters at Fayetteville. The year ended December 31, 2018 includes $63 in additional charges for the estimated liability associated with Fayetteville. Refer to “Note 22 – Commitments and Contingent Liabilities” for further details.