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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Business Segment Reporting Information |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 2,256 |  |  | $ | 1,134 |  |  | $ | 4,043 |  |  | $ | 2,807 |
Europe, Middle East and Africa |  |  | 1,230 |  |  |  | 676 |  |  |  | 2,461 |  |  |  | 1,671 |
Asia Pacific |  |  | 493 |  |  |  | 334 |  |  |  | 986 |  |  |  | 722 |
Net Sales |  | $ | 3,979 |  |  | $ | 2,144 |  |  | $ | 7,490 |  |  | $ | 5,200 |
Segment Operating Income (Loss): |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 233 |  |  | $ | (287 | ) |  | $ | 347 |  |  | $ | (287 | )
Europe, Middle East and Africa |  |  | 43 |  |  |  | (110 | ) |  |  | 117 |  |  |  | (163 | )
Asia Pacific |  |  | 23 |  |  |  | (34 | ) |  |  | 61 |  |  |  | (28 | )
Total Segment Operating Income (Loss) |  | $ | 299 |  |  | $ | (431 | ) |  | $ | 525 |  |  | $ | (478 | )
Less: |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and other asset impairments |  | $ | — |  |  | $ | 148 |  |  | $ | — |  |  | $ | 330 |
Rationalizations (Note 4) |  |  | 18 |  |  |  | 99 |  |  |  | 68 |  |  |  | 108 |
Interest expense |  |  | 97 |  |  |  | 85 |  |  |  | 176 |  |  |  | 158 |
Other (income) expense (Note 5) |  |  | 30 |  |  |  | 34 |  |  |  | 64 |  |  |  | 61 |
Asset write-offs and accelerated depreciation (Note 4) |  |  | — |  |  |  | 86 |  |  |  | — |  |  |  | 90 |
Corporate incentive compensation plans |  |  | 24 |  |  |  | 7 |  |  |  | 33 |  |  |  | 10 |
Retained expenses of divested operations |  |  | 4 |  |  |  | 1 |  |  |  | 7 |  |  |  | 3 |
Other |  |  | 28 |  |  |  | (2 | ) |  |  | 46 |  |  |  | 19 |
Income (Loss) before Income Taxes |  | $ | 98 |  |  | $ | (889 | ) |  | $ | 131 |  |  | $ | (1,257 | )
Rationalizations, Asset sales, Other Expense and Asset Write-offs and Accelerated Depreciation Attributable to the SBUs | Goodwill and other asset impairments; rationalizations, as described in Note to the Consolidated Financial Statements No. 4, Costs Associated with Rationalization Programs; net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 5, Other (Income) Expense; and asset write-offs and accelerated depreciation were not charged to the strategic business units ("SBUs") for performance evaluation purposes but were attributable to the SBUs as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Goodwill and Other Asset Impairments: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | — |  |  | $ | 148 |  |  | $ | — |  |  | $ | 148 |
Europe, Middle East and Africa |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 182 |
Total Segment Goodwill and Other Asset Impairments |  | $ | — |  |  | $ | 148 |  |  | $ | — |  |  | $ | 330 |
Rationalizations: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 8 |  |  | $ | 69 |  |  | $ | 18 |  |  | $ | 72 |
Europe, Middle East and Africa |  |  | 7 |  |  |  | 30 |  |  |  | 44 |  |  |  | 36 |
Total Segment Rationalizations |  | $ | 15 |  |  | $ | 99 |  |  | $ | 62 |  |  | $ | 108 |
Corporate |  |  | 3 |  |  |  | — |  |  |  | 6 |  |  |  | — |
|  | $ | 18 |  |  | $ | 99 |  |  | $ | 68 |  |  | $ | 108 |
Net (Gains) Losses on Asset Sales: |  |  |  |  |  |  |  |  |  |  |  |
Europe, Middle East and Africa |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 2 |
Total Segment Net (Gains) Losses on Asset Sales |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 2 |
Asset Write-offs and Accelerated Depreciation: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | 89 |
Europe, Middle East and Africa |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Total Segment Asset Write-offs and Accelerated Depreciation |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | 90 |
Segment Assets | The following table presents segment assets:
|  | June 30, |  |  | December 31, |
(In millions) |  | 2021 |  |  | 2020 |
Assets |  |  |  |  |  |
Americas |  | $ | 9,902 |  |  | $ | 6,666 |
Europe, Middle East and Africa |  |  | 5,366 |  |  |  | 4,825 |
Asia Pacific |  |  | 3,143 |  |  |  | 2,725 |
Total Segment Assets |  |  | 18,411 |  |  |  | 14,216 |
Corporate(1) |  |  | 2,769 |  |  |  | 2,290 |
|  | $ | 21,180 |  |  | $ | 16,506 |
(1) Corporate includes substantially all of our U.S. net deferred tax assets.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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