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Segment Information

9 Months Ended

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