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Segment Information | 6 Months Ended
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Jun. 30, 2016
Segment Information |
Segment Information | 1. Segment Information The Company has four reportable segments based on its geographic locations: Europe, North America, Latin America and Asia Pacific. In connection with the Company’s acquisition (the “Vitro Acquisition”) of the food and beverage glass container business of Vitro S.A.B. de C.V. and its subsidiaries as conducted in the United States, Mexico and Bolivia (the “Vitro Business”) on September 1, 2015 (see Note 15), the Company has renamed the former South America segment to the Latin America segment. This change in segment name was made to reflect the addition of the Mexican and Bolivian operations from the Vitro Acquisition into the former South America segment. The acquired Vitro food and beverage glass container distribution business located in the United States is included in the North American operating segment. 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 for the three and six months ended June 30, 2016 and 2015 regarding the Company’s reportable segments is as follows:
|  | Three months ended June 30, |  | Six months ended June 30, |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 646 |  | $ | 637 |  | $ | 1,209 |  | $ | 1,204 |
North America |  |  | 599 |  |  | 530 |  |  | 1,131 |  |  | 1,000 |
Latin America |  |  | 345 |  |  | 207 |  |  | 657 |  |  | 412 |
Asia Pacific |  |  | 158 |  |  | 153 |  |  | 317 |  |  | 316 |
Reportable segment totals |  |  | 1,748 |  |  | 1,527 |  |  | 3,314 |  |  | 2,932 |
Other |  |  | 12 |  |  | 16 |  |  | 34 |  |  | 32 |
Net sales |  | $ | 1,760 |  | $ | 1,543 |  | $ | 3,348 |  | $ | 2,964 |
|  | Three months ended June 30, |  | Six months ended June 30, |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Segment operating profit: |  |  |  |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 73 |  | $ | 64 |  | $ | 128 |  | $ | 113 |
North America |  |  | 92 |  |  | 82 |  |  | 168 |  |  | 153 |
Latin America |  |  | 57 |  |  | 27 |  |  | 120 |  |  | 57 |
Asia Pacific |  |  | 11 |  |  | 14 |  |  | 28 |  |  | 32 |
Reportable segment totals |  |  | 233 |  |  | 187 |  |  | 444 |  |  | 355 |
Items excluded from segment operating profit: |  |  |  |  |  |  |  |  |  |  |  |  |
Retained corporate costs and other |  |  | (25) |  |  | (18) |  |  | (57) |  |  | (39) |
Restructuring, asset impairment and other |  |  |  |  |  | (27) |  |  | (12) |  |  | (27) |
Strategic transaction costs |  |  |  |  |  | (6) |  |  |  |  |  | (6) |
Interest expense, net |  |  | (67) |  |  | (74) |  |  | (133) |  |  | (121) |
Earnings from continuing operations before income taxes |  | $ | 141 |  | $ | 62 |  | $ | 242 |  | $ | 162 |
Financial information regarding the Company’s total assets is as follows:
|  | June 30, |  | December 31, |  | June 30, |
|  | 2016 |  | 2015 |  | 2015 |
Total assets: |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 2,977 |  | $ | 2,902 |  | $ | 3,117 |
North America |  |  | 2,562 |  |  | 2,500 |  |  | 2,042 |
Latin America |  |  | 2,798 |  |  | 2,807 |  |  | 1,094 |
Asia Pacific |  |  | 981 |  |  | 917 |  |  | 921 |
Reportable segment totals |  |  | 9,318 |  |  | 9,126 |  |  | 7,174 |
Other |  |  | 349 |  |  | 295 |  |  | 444 |
Consolidated totals |  | $ | 9,667 |  | $ | 9,421 |  | $ | 7,618 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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