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Segment Information
 3 Months Ended
Mar. 31, 2014
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 sales, 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, 2014 and 2013 regarding the Company’s reportable segments is as follows:

 

 

 

2014

 

2013

 

Net sales:

 

 

 

 

 

Europe

 

$

706

 

$

650

 

North America

 

485

 

469

 

South America

 

239

 

269

 

Asia Pacific

 

203

 

247

 

 

 

 

 

 

 

Reportable segment totals

 

1,633

 

1,635

 

Other

 

6

 

6

 

Net sales

 

$

1,639

 

$

1,641

 

 

 

 

2014

 

2013

 

Segment operating profit:

 

 

 

 

 

Europe

 

$

87

 

$

59

 

North America

 

65

 

74

 

South America

 

41

 

53

 

Asia Pacific

 

25

 

40

 

Reportable segment totals

 

218

 

226

 

 

 

 

 

 

 

Items excluded from segment operating profit:

 

 

 

 

 

Retained corporate costs and other

 

(30

)

(31

)

Restructuring, asset impairment and related charges

 

 

 

(10

)

Interest expense, net

 

(54

)

(68

)

Earnings from continuing operations before income taxes

 

$

134

 

$

117

 

 

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

 

 

 

March 31,

 

December 31,

 

March 31,

 

 

 

2014

 

2013

 

2013

 

Total assets:

 

 

 

 

 

 

 

Europe

 

$

3,585

 

$

3,509

 

$

3,263

 

North America

 

2,055

 

1,995

 

2,030

 

South America

 

1,453

 

1,467

 

1,638

 

Asia Pacific

 

1,142

 

1,150

 

1,294

 

 

 

 

 

 

 

 

 

Reportable segment totals

 

8,235

 

8,121

 

8,225

 

Other

 

253

 

298

 

292

 

Consolidated totals

 

$

8,488

 

$

8,419

 

$

8,517