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Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segment Reporting Information |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 3,120 |  |  | $ | 3,304 |  |  | $ | 8,926 |  |  | $ | 9,366 |
Europe, Middle East and Africa |  |  | 1,374 |  |  |  | 1,358 |  |  |  | 4,207 |  |  |  | 4,281 |
Asia Pacific |  |  | 648 |  |  |  | 649 |  |  |  | 1,817 |  |  |  | 1,784 |
Net Sales |  | $ | 5,142 |  |  | $ | 5,311 |  |  | $ | 14,950 |  |  | $ | 15,431 |
Segment Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 258 |  |  | $ | 306 |  |  | $ | 440 |  |  | $ | 815 |
Europe, Middle East and Africa |  |  | 22 |  |  |  | 30 |  |  |  | 11 |  |  |  | 141 |
Asia Pacific |  |  | 56 |  |  |  | 37 |  |  |  | 134 |  |  |  | 84 |
Total Segment Operating Income |  | $ | 336 |  |  | $ | 373 |  |  | $ | 585 |  |  | $ | 1,040 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Rationalizations (Note 3) |  | $ | 198 |  |  | $ | 45 |  |  | $ | 302 |  |  | $ | 82 |
Interest expense |  |  | 138 |  |  |  | 117 |  |  |  | 403 |  |  |  | 331 |
Other (income) expense (Note 4) |  |  | 21 |  |  |  | 42 |  |  |  | 82 |  |  |  | (18 | )
Asset write-offs (recoveries) and accelerated depreciation, net (Note 3) |  |  | 8 |  |  |  | 6 |  |  |  | 21 |  |  |  | 6 |
Corporate incentive compensation plans |  |  | 2 |  |  |  | 17 |  |  |  | 43 |  |  |  | 57 |
Retained expenses of divested operations |  |  | 2 |  |  |  | 3 |  |  |  | 10 |  |  |  | 10 |
Other(1) |  |  | 26 |  |  |  | 37 |  |  |  | 93 |  |  |  | 80 |
Income (Loss) before Income Taxes |  | $ | (59 | ) |  | $ | 106 |  |  | $ | (369 | ) |  | $ | 492 |
(1) Other for the three and nine months ended September 30, 2023 includes $8 million related to the insurance deductible for the fire in Debica, Poland. Other for the nine months ended September 30, 2023 also includes $14 million related to the insurance deductible for the tornado in Tupelo, Mississippi.
Rationalizations, Net (Gains) Losses on Asset Sales, Asset Write-offs and Accelerated Depreciation, net | Rationalizations, as described in Note to the Consolidated Financial Statements No. 3, Costs Associated with Rationalization Programs, net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 4, Other (Income) Expense, and asset write-offs (recoveries) 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Rationalizations: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 4 |  |  | $ | 4 |  |  | $ | 12 |  |  | $ | 22 |
Europe, Middle East and Africa |  |  | 139 |  |  |  | 42 |  |  |  | 227 |  |  |  | 56 |
Asia Pacific |  |  | 20 |  |  |  | — |  |  |  | 23 |  |  |  | — |
Total Segment Rationalizations |  | $ | 163 |  |  | $ | 46 |  |  | $ | 262 |  |  | $ | 78 |
Corporate |  |  | 35 |  |  |  | (1 | ) |  |  | 40 |  |  |  | 4 |
Total Rationalizations |  | $ | 198 |  |  | $ | 45 |  |  | $ | 302 |  |  | $ | 82 |
Net (Gains) Losses on Asset Sales: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | (6 | ) |  | $ | — |  |  | $ | (68 | ) |  | $ | (98 | )
Total Segment Net (Gains) Losses on Asset Sales |  | $ | (6 | ) |  | $ | — |  |  | $ | (68 | ) |  | $ | (98 | )
Asset Write-offs (Recoveries) and Accelerated Depreciation, net: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 3 |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |
Europe, Middle East and Africa |  |  | 5 |  |  |  | — |  |  |  | 3 |  |  |  | — |
Total Segment Asset Write-offs (Recoveries) and Accelerated Depreciation, net |  | $ | 8 |  |  | $ | — |  |  | $ | 21 |  |  | $ | — |
Corporate |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 6 |
Total Asset Write-offs (Recoveries) and Accelerated Depreciation, net |  | $ | 8 |  |  | $ | 6 |  |  | $ | 21 |  |  | $ | 6 |

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