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Segment Information
 3 Months Ended
Mar. 31, 2013
Segment Information  
Segment Information

1.  Segment Information

 

The Company has four reportable segments based on its four geographic locations:  Europe, North America, South America and Asia Pacific.  These four segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations.  Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other.  These include licensing, equipment manufacturing, global engineering, and non-glass equity investments.  Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments.

 

The Company’s measure of profit for its reportable segments is segment operating profit, which consists of consolidated earnings from continuing operations before interest income, interest expense, and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations as well as certain retained corporate costs.  The Company’s management uses segment operating profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources.  Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided.

 

Financial information for the three-month periods ended March 31, 2013 and 2012 regarding the Company’s reportable segments is as follows:

 

 

 

2013

 

2012

 

Net sales:

 

 

 

 

 

Europe

 

$

650

 

$

705

 

North America

 

469

 

482

 

South America

 

269

 

277

 

Asia Pacific

 

247

 

257

 

 

 

 

 

 

 

Reportable segment totals

 

1,635

 

1,721

 

Other

 

6

 

18

 

Net sales

 

$

1,641

 

$

1,739

 

 

 

 

2013

 

2012

 

Segment operating profit:

 

 

 

 

 

Europe

 

$

59

 

$

108

 

North America

 

74

 

78

 

South America

 

53

 

38

 

Asia Pacific

 

40

 

36

 

Reportable segment totals

 

226

 

260

 

 

 

 

 

 

 

Items excluded from segment operating profit:

 

 

 

 

 

Retained corporate costs and other

 

(31

)

(29

)

Restructuring, asset impairment and related charges

 

(10

)

 

 

Interest income

 

3

 

3

 

Interest expense

 

(71

)

(64

)

Earnings from continuing operations before income taxes

 

$

117

 

$

170

 

 

Financial information regarding the Company’s total assets is as follows:

 

 

 

March 31,

 

December 31,

 

March 31,

 

 

 

2013

 

2012

 

2012

 

Total assets:

 

 

 

 

 

 

 

Europe

 

$

3,263

 

$

3,362

 

$

3,744

 

North America

 

2,030

 

1,994

 

2,056

 

South America

 

1,638

 

1,655

 

1,724

 

Asia Pacific

 

1,294

 

1,349

 

1,359

 

 

 

 

 

 

 

 

 

Reportable segment totals

 

8,225

 

8,360

 

8,883

 

Other

 

292

 

238

 

278

 

Consolidated totals

 

$

8,517

 

$

8,598

 

$

9,161