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Segment Information
 6 Months Ended
Jun. 30, 2013
Segment Information  
Segment Information

1.  Segment Information

 

The Company has four reportable segments based on its 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 and six months ended June 30, 2013 and 2012 regarding the Company’s reportable segments is as follows:

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Net sales:

 

 

 

 

 

 

 

 

 

Europe

 

$

746

 

$

731

 

$

1,396

 

$

1,436

 

North America

 

527

 

516

 

996

 

998

 

South America

 

269

 

282

 

538

 

559

 

Asia Pacific

 

231

 

230

 

478

 

487

 

Reportable segment totals

 

1,773

 

1,759

 

3,408

 

3,480

 

Other

 

8

 

7

 

14

 

25

 

Net sales

 

$

1,781

 

$

1,766

 

$

3,422

 

$

3,505

 

 

 

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Segment operating profit:

 

 

 

 

 

 

 

 

 

Europe

 

$

111

 

$

107

 

$

170

 

$

215

 

North America

 

93

 

96

 

167

 

174

 

South America

 

37

 

47

 

90

 

85

 

Asia Pacific

 

26

 

16

 

66

 

52

 

Reportable segment totals

 

267

 

266

 

493

 

526

 

 

 

 

 

 

 

 

 

 

 

Items excluded from segment operating profit:

 

 

 

 

 

 

 

 

 

Retained corporate costs and other

 

(34

)

(27

)

(65

)

(56

)

Restructuring, asset impairment and related charges

 

 

 

 

 

(10

)

 

 

Interest income

 

1

 

2

 

4

 

5

 

Interest expense

 

(57

)

(62

)

(128

)

(126

)

Earnings from continuing operations before income taxes

 

$

177

 

$

179

 

$

294

 

$

349

 

 

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

 

 

 

June 30,

 

December 31,

 

June 30,

 

 

 

2013

 

2012

 

2012

 

Total assets:

 

 

 

 

 

 

 

Europe

 

$

3,452

 

$

3,362

 

$

3,544

 

North America

 

2,029

 

1,994

 

2,055

 

South America

 

1,495

 

1,655

 

1,583

 

Asia Pacific

 

1,178

 

1,349

 

1,318

 

 

 

 

 

 

 

 

 

Reportable segment totals

 

8,154

 

8,360

 

8,500

 

Other

 

256

 

238

 

334

 

Consolidated totals

 

$

8,410

 

$

8,598

 

$

8,834