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Segment Information | 9 Months Ended
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Sep. 30, 2019
Segment Information |
Segment Information | 1. Segment Information The Company has three reportable segments and three operating segments based on its geographic locations: Americas, Europe and Asia Pacific. These three 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 is a non-GAAP financial measure that 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 nine months ended September 30, 2019 and 2018 regarding the Company’s reportable segments is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended September 30, | ​ | Nine months ended September 30, | ​
​ | ​ | 2019 |  | 2018 |  | 2019 |  | 2018 |
Net sales: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 918 | ​ | $ | 939 | ​ | $ | 2,733 | ​ | $ | 2,777 | ​
Europe | ​ |  | 588 | ​ |  | 613 | ​ |  | 1,834 | ​ | ​ | 1,930 | ​
Asia Pacific | ​ |  | 152 | ​ |  | 165 | ​ |  | 455 | ​ | ​ | 491 | ​
Reportable segment totals | ​ |  | 1,658 | ​ |  | 1,717 | ​ |  | 5,022 | ​ |  | 5,198 | ​
Other | ​ |  | 12 | ​ | ​ | 17 | ​ | ​ | 41 | ​ | ​ | 44 | ​
Net sales | ​ | $ | 1,670 | ​ | $ | 1,734 | ​ | $ | 5,063 | ​ | $ | 5,242 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30, | ​
​ |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Segment operating profit: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 123 | ​ | $ | 158 | ​ | $ | 380 | ​ | $ | 458 | ​
Europe | ​ |  | 79 | ​ |  | 87 | ​ |  | 248 | ​ |  | 260 | ​
Asia Pacific | ​ |  | 3 | ​ |  | 10 | ​ |  | 13 | ​ |  | 16 | ​
Reportable segment totals | ​ |  | 205 | ​ |  | 255 | ​ |  | 641 | ​ |  | 734 | ​
Items excluded from segment operating profit: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained corporate costs and other | ​ |  | (20) | ​ | ​ | (24) | ​ | ​ | (71) | ​ | ​ | (81) | ​
Charge for goodwill impairment | ​ | ​ | (595) | ​ | ​ | ​ | ​ | ​ | (595) | ​ | ​ | ​ | ​
Restructuring, asset impairment, pension settlement and other charges | ​ |  | (43) | ​ | ​ | ​ | ​ | ​ | (86) | ​ | ​ | (73) | ​
Interest expense, net | ​ |  | (83) | ​ | ​ | (63) | ​ | ​ | (215) | ​ | ​ | (199) | ​
Earnings (loss) from continuing operations before income taxes | ​ | $ | (536) | ​ | $ | 168 | ​ | $ | (326) | ​ | $ | 381 | ​
​ ​ Financial information regarding the Company’s total assets is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​ | September 30, | ​
​ |  | 2019 | ​ | 2018 | ​ | 2018 | ​
Total assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas |  | $ | 5,241 |  | $ | 5,497 |  | $ | 5,455 | ​
Europe | ​ |  | 3,053 | ​ |  | 3,036 | ​ |  | 3,220 | ​
Asia Pacific | ​ |  | 1,021 | ​ |  | 918 | ​ |  | 999 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable segment totals | ​ |  | 9,315 | ​ |  | 9,451 | ​ |  | 9,674 | ​
Other | ​ |  | 233 | ​ | ​ | 248 | ​ | ​ | 266 | ​
Consolidated totals |  | $ | 9,548 |  | $ | 9,699 |  | $ | 9,940 | ​
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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