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Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Information  
Segment Information

 

2. 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 certain 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 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 regarding the Company's reportable segments is as follows:

                                                                                                                                                                                    

 

 

2014

 

2013

 

2012

 

Net sales:

 

 

 

 

 

 

 

 

 

 

Europe

 

$
2,794 

 

$
2,787 

 

$
2,717 

 

North America

 

 
2,003 

 

 
2,002 

 

 
1,966 

 

South America

 

 
1,159 

 

 
1,186 

 

 
1,252 

 

Asia Pacific

 

 
793 

 

 
966 

 

 
1,028 

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

Reportable segment totals

 

 
6,749 

 

 
6,941 

 

 
6,963 

 

Other

 

 
35 

 

 
26 

 

 
37 

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

Net sales

 

$
6,784 

 

$
6,967 

 

$
7,000 

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

​

​

​  

​  

​

​  

​  

​

​  

​  

​  

 

                                                                                                                                                                                    

 

 

2014

 

2013

 

2012

 

Segment operating profit:

 

 

 

 

 

 

 

 

 

 

Europe

 

$
353

 

$
305

 

$
307

 

North America

 

 
240

 

 
307

 

 
288

 

South America

 

 
227

 

 
204

 

 
227

 

Asia Pacific

 

 
88

 

 
131

 

 
113

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

Reportable segment totals

 

 
908

 

 
947

 

 
935

 

Items excluded from segment operating profit:

 

 

 

 

 

 

 

 

 

 

Retained corporate costs and other

 

 
(100

)

 
(119

)

 
(106

)

Restructuring, asset impairment and other charges

 

 
(91

)

 
(119

)

 
(168

)

Charge for asbestos-related costs

 

 
(135

)

 
(145

)

 
(155

)

Pension settlement charges

 

 
(65

)

 

 

 

 

 

 

Non-income tax charge

 

 
(69

)

 

 

 

 

 

 

Gain on China land compensation

 

 

 

 

 

 

 

 
61

 

Interest expense, net

 

 
(230

)

 
(229

)

 
(239

)  

​

​

​  

​  

​

​  

​  

​

​  

​  

​

Earnings from continuing operations before income taxes

 

$
218

 

$
335

 

$
328

 

​

​

​  

​  

​

​  

​  

​

​  

​  

​

​

​

​  

​  

​

​  

​  

​

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Europe

 

North
America

 

South
America

 

Asia
Pacific

 

Reportable
Segment
Totals

 

Retained
Corp Costs
and Other

 

Consolidated
Totals

 

Total assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

$
3,223 

 

$
1,971 

 

$
1,300 

 

$
1,018 

 

$
7,512 

 

$
346 

 

$
7,858 

 

2013

 

 
3,509 

 

 
1,995 

 

 
1,467 

 

 
1,150 

 

 
8,121 

 

 
298 

 

 
8,419 

 

2012

 

 
3,362 

 

 
1,994 

 

 
1,655 

 

 
1,349 

 

 
8,360 

 

 
238 

 

 
8,598 

 

Equity investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

$
81 

 

$
24 

 

$

—

 

$
153 

 

$
258 

 

$
169 

 

$
427 

 

2013

 

 
84 

 

 
25 

 

 

 

 

 
155 

 

 
264 

 

 
51 

 

 
315 

 

2012

 

 
63 

 

 
25 

 

 

 

 

 
165 

 

 
253 

 

 
41 

 

 
294 

 

Equity earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

$
19 

 

$
17 

 

$

—

 

$
4 

 

$
40 

 

$
24 

 

$
64 

 

2013

 

 
17 

 

 
16 

 

 

 

 

 
10 

 

 
43 

 

 
24 

 

 
67 

 

2012

 

 
15 

 

 
16 

 

 

 

 

 
5 

 

 
36 

 

 
28 

 

 
64 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

$
188 

 

$
89 

 

$
55 

 

$
34 

 

$
366 

 

$
3 

 

$
369 

 

2013

 

 
130 

 

 
100 

 

 
80 

 

 
36 

 

 
346 

 

 
15 

 

 
361 

 

2012

 

 
87 

 

 
68 

 

 
75 

 

 
49 

 

 
279 

 

 
11 

 

 
290 

 

Depreciation and amortization expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

$
140 

 

$
131 

 

$
79 

 

$
53 

 

$
403 

 

$
15 

 

$
418 

 

2013

 

 
139 

 

 
110 

 

 
72 

 

 
62 

 

 
383 

 

 
14 

 

 
397 

 

2012

 

 
150 

 

 
107 

 

 
70 

 

 
70 

 

 
397 

 

 
15 

 

 
412 

 

        The Company's net property, plant and equipment by geographic segment are as follows:

                                                                                                                                                                                    

 

 

U.S.

 

Non-U.S.

 

Total

 

2014

 

$
713 

 

$
1,732 

 

$
2,445 

 

2013

 

 
686 

 

 
1,946 

 

 
2,632 

 

2012

 

 
663 

 

 
2,106 

 

 
2,769 

 

        The Company's net sales by geographic segment are as follows:

                                                                                                                                                                                    

 

 

U.S.

 

Non-U.S.

 

Total

 

2014

 

$
1,852 

 

$
4,932 

 

$
6,784 

 

2013

 

 
1,809 

 

 
5,158 

 

 
6,967 

 

2012

 

 
1,780 

 

 
5,220 

 

 
7,000 

 

        Operations outside the U.S. that accounted for more than 10% of consolidated net sales from continuing operations were in France (2014—11%, 2013—11%, 2012—11%).