Segment Information (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Segment Information |
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Schedule of segment operating profit (loss) for the Company's reportable segments |
| | | | | | | | | | | | | | | | | Three months ended June 30, | | | 2025 | | 2024 | | | | Americas | | Europe | | Total | | | Americas | | Europe | | Total | Reportable segment net sales | | $ | 943 | $ | 741 | $ | 1,684 | | $ | 899 | $ | 802 | $ | 1,701 | Other | | | | | | | 22 | | | | | | | 28 | Net Sales | | | | | | | 1,706 | | | | | | $ | 1,729 | Less: | | | | | | | | | | | | | | | Cost of goods sold | | | 772 | | 615 | | | | | 758 | | 642 | | | Selling, administrative, engineering and research and development expenses | | | 42 | | 46 | | | | | 47 | | 46 | | | Equity earnings | | | (19) | | (9) | | | | | (16) | | (13) | | | Other segment expenses (income) | | | 13 | | (1) | | | | | 4 | | | | | Segment operating profit | | $ | 135 | $ | 90 | $ | 225 | | $ | 106 | $ | 127 | $ | 233 | Items excluded from segment operating profit: | | | | | | | | | | | | | | | Reconciliation of segment operating profit | | | | | | | | | | | | | | | Retained corporate costs and other | | | | | | | (25) | | | | | | | (32) | Restructuring, asset impairment and other charges | | | | | | | (108) | | | | | | | | Legacy environmental charge | | | | | | | | | | | | | | (10) | Interest expense, net | | | | | | | (85) | | | | | | | (87) | Earnings before income taxes | | | | | | $ | 7 | | | | | | $ | 104 |
| | | | | | | | | | | | | | | | | Six months ended June 30, | | | 2025 | | 2024 | | | | Americas | | Europe | | Total | | | Americas | | Europe | | Total | Reportable segment net sales | | $ | 1,816 | $ | 1,407 | $ | 3,223 | | $ | 1,753 | $ | 1,511 | $ | 3,264 | Other | | | | | | | 50 | | | | | | | 58 | Net Sales | | | | | | | 3,273 | | | | | | $ | 3,322 | | | | | | | | | | | | | | | | Less: | | | | | | | | | | | | | | | Cost of goods sold | | | 1,475 | | 1,173 | | | | | 1,470 | | 1,177 | | | Selling, administrative, engineering and research and development expenses | | | 85 | | 92 | | | | | 99 | | 93 | | | Equity earnings | | | (38) | | (13) | | | | | (35) | | (19) | | | Other segment expenses (income) | | | 18 | | (3) | | | | | 11 | | | | | Segment operating profit | | $ | 276 | $ | 158 | $ | 434 | | $ | 208 | $ | 260 | $ | 468 | Items excluded from segment operating profit: | | | | | | | | | | | | | | | Reconciliation of segment operating profit | | | | | | | | | | | | | | | Retained corporate costs and other | | | | | | | (53) | | | | | | | (72) | Restructuring, asset impairment and other charges | | | | | | | (191) | | | | | | | | Legacy environmental charge | | | | | | | (4) | | | | | | | (10) | Gain on sale of miscellaneous assets | | | | | | | 6 | | | | | | | | Interest expense, net | | | | | | | (166) | | | | | | | (165) | Earnings before income taxes | | | | | | $ | 26 | | | | | | $ | 221 |
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Schedule of assets, equity investments, equity earnings, capital expenditures and depreciation and amortization expense for the Company's reportable segments |
| | | | | | | | | | | | | | | | | | | As of June 30, | | | | | | | | | | Reportable | | Retained | | Consoli- | | | | | | | | | Segment | | Corp Costs | | dated | | | | Americas | | Europe | | Totals | | and Other | | Totals | | Total assets: | | | | | | | | | | | | | | | | | 2025 | | $ | 4,841 | | $ | 3,984 | | $ | 8,825 | | $ | 354 | | $ | 9,179 | | 2024 | | | 5,009 | | | 3,796 | | | 8,805 | | | 529 | | | 9,334 | | Equity investments: | | | | | | | | | | | | | | | | | 2025 | | $ | 475 | | $ | 201 | | $ | 676 | | $ | 36 | | $ | 712 | | 2024 | | | 467 | | | 173 | | | 640 | | | 58 | | | 698 | |
| | | | | | | | | | | | | | | | | | | Three months ended June 30, | | | | | | | | | | Reportable | | Retained | | Consoli- | | | | | | | | | Segment | | Corp Costs | | dated | | | | Americas | | Europe | | Totals | | and Other | | Totals | | Equity earnings: | | | | | | | | | | | | | | | | | 2025 | | $ | 19 | | $ | 9 | | $ | 28 | | $ | — | | $ | 28 | | 2024 | | | 16 | | | 13 | | | 29 | | | 1 | | | 30 | | Capital expenditures: | | | | | | | | | | | | | | | | | 2025 | | $ | 41 | | $ | 48 | | $ | 89 | | $ | 15 | | $ | 104 | | 2024 | | | 99 | | | 58 | | | 157 | | | 3 | | | 160 | | Depreciation and amortization expense: | | | | | | | | | | | | | | | | | 2025 | | $ | 70 | | $ | 43 | | $ | 113 | | $ | 5 | | $ | 118 | | 2024 | | | 73 | | | 44 | | | 117 | | | 5 | | | 122 | |
| | | | | | | | | | | | | | | | | | | Six months ended June 30, | | | | | | | | | | Reportable | | Retained | | Consoli- | | | | | | | | | Segment | | Corp Costs | | dated | | | | Americas | | Europe | | Totals | | and Other | | Totals | | Equity earnings: | | | | | | | | | | | | | | | | | 2025 | | $ | 38 | | $ | 13 | | $ | 51 | | $ | — | | $ | 51 | | 2024 | | | 35 | | | 19 | | | 54 | | | 1 | | | 55 | | Capital expenditures: | | | | | | | | | | | | | | | | | 2025 | | $ | 103 | | $ | 120 | | $ | 223 | | $ | 16 | | $ | 239 | | 2024 | | | 222 | | | 146 | | | 368 | | | 5 | | | 373 | | Depreciation and amortization expense: | | | | | | | | | | | | | | | | | 2025 | | $ | 143 | | $ | 80 | | $ | 223 | | $ | 10 | | $ | 233 | | 2024 | | | 148 | | | 87 | | | 235 | | | 10 | | | 245 | |
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Total assets for the Company's reportable segments |
| | | | | | | | | | | | | As of June 30, | | | | U.S. | | Non-U.S. | | Total | | 2025 | | $ | 798 | | $ | 2,854 | | $ | 3,652 | | 2024 | | | 912 | | | 2,763 | | | 3,675 | |
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Schedule of segment information by geographic segment |
| | | | | | | | | | | | | Three months ended June 30, | | | | U.S. | | Non-U.S. | | Total | | 2025 | | $ | 446 | | $ | 1,260 | | $ | 1,706 | | 2024 | | | 419 | | | 1,310 | | | 1,729 | |
| | | | | | | | | | | | Six months ended June 30, | | | U.S. | | Non-U.S. | | Total | 2025 | | $ | 888 | | $ | 2,385 | | $ | 3,273 | 2024 | | | 814 | | | 2,508 | | | 3,322 |
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