v3.26.1
Note 20 - Operating Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Notes Tables  
Segment Reporting [Table Text Block]
  

Three months ended March 31, 2026

 
  

Polyurethanes

  

Performance Products

  

Advanced Materials

  

Total

 

Revenues:

                

Reportable segments’ revenues(1)

 $923  $228  $279  $1,430 
                 

Significant segment expenses:

                

Variable direct costs(2)

  698   126   131   955 

Adjusted fixed costs(3)

  185   77   108   370 

Other segment items(4)

  1   (1)  (5)  (5)

Total reportable segments’ adjusted EBITDA(5)

 $39  $26  $45   110 
                 

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:

                

Interest expense, net

              (21)

Depreciation and amortization

              (73)

Corporate and other costs, net(6)

              (37)

Net income attributable to noncontrolling interests

              12 

Other adjustments:

                

Certain legal and other settlements and related expenses, net

              (4)

Loss on early extinguishment of debt

              (1)

Amortization of pension and postretirement actuarial losses

              (7)

Restructuring, impairment and plant closing and transition costs(7)

              (8)

Loss from continuing operations before income taxes

              (29)
                 

Income tax expense—continuing operations

              (11)

Loss from discontinued operations, net of tax

              (1)

Net loss

             $(41)
  

Three months ended March 31, 2025

 
  

Polyurethanes

  

Performance Products

  

Advanced Materials

  

Total

 

Revenues:

                

Reportable segments’ revenues(1)

 $912  $257  $249  $1,418 
                 

Significant segment expenses:

                

Variable direct costs(2)

  682   137   116   935 

Adjusted fixed costs(3)

  186   84   101   371 

Other segment items(4)

  2   6   (4)  4 

Total reportable segments’ adjusted EBITDA(5)

 $42  $30  $36   108 
                 

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                

Interest expense, net

              (19)

Depreciation and amortization

              (69)

Corporate and other costs, net(6)

              (36)

Net income attributable to noncontrolling interests

              16 

Other adjustments:

                

Business acquisition and integration gain and purchase accounting adjustments, net

              5 

Certain legal and other settlements and related income, net(8)

              33 

Amortization of pension and postretirement actuarial losses

              (7)

Restructuring, impairment and plant closing and transition costs(7)

              (4)

Income from continuing operations before income taxes

              27 
                 

Income tax expense—continuing operations

              (15)

Loss from discontinued operations, net of tax

              (1)

Net income

             $11 
  

Three months ended March 31, 2026

 
  

Polyurethanes

  

Performance Products

  

Advanced Materials

  

Total

 

Revenues:

                

Reportable segments’ revenues(1)

 $923  $228  $279  $1,430 
                 

Significant segment expenses:

                

Variable direct costs(2)

  698   126   131   955 

Adjusted fixed costs(3)

  185   77   108   370 

Other segment items(4)

  1   (1)  (5)  (5)

Total reportable segments’ adjusted EBITDA(5)

 $39  $26  $45   110 
                 

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:

                

Interest expense, net

              (21)

Depreciation and amortization

              (73)

Corporate and other costs, net(6)

              (35)

Net income attributable to noncontrolling interests

              12 

Other adjustments:

                

Certain legal and other settlements and related expenses, net

              (4)

Loss on early extinguishment of debt

              (1)

Amortization of pension and postretirement actuarial losses

              (7)

Restructuring, impairment and plant closing and transition costs(7)

              (8)

Loss from continuing operations before income taxes

              (27)
                 

Income tax expense—continuing operations

              (11)

Loss from discontinued operations, net of tax

              (1)

Net loss

             $(39)
  

Three months ended March 31, 2025

 
  

Polyurethanes

  

Performance Products

  

Advanced Materials

  

Total

 

Revenues:

                

Reportable segments’ revenues(1)

 $912  $257  $249  $1,418 
                 

Significant segment expenses:

                

Variable direct costs(2)

  682   137   116   935 

Adjusted fixed costs(3)

  186   84   101   371 

Other segment items(4)

  2   6   (4)  4 

Total reportable segments’ adjusted EBITDA(5)

 $42  $30  $36   108 
                 

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                

Interest expense, net

              (19)

Depreciation and amortization

              (69)

Corporate and other costs, net(6)

              (34)

Net income attributable to noncontrolling interests

              16 

Other adjustments:

                

Business acquisition and integration gain and purchase accounting adjustments, net

              5 

Certain legal and other settlements and related income, net(8)

              33 

Amortization of pension and postretirement actuarial losses

              (7)

Restructuring, impairment and plant closing and transition costs(7)

              (4)

Income from continuing operations before income taxes

              29 
                 

Income tax expense—continuing operations

              (17)

Loss from discontinued operations, net of tax

              (1)

Net income

             $11 
   

March 31,

    

December 31,

  
   

2026

    

2025

  

Total assets:

                

Polyurethanes

   $ 4,138     $ 4,045  

Performance Products

     1,180       1,185  

Advanced Materials

     1,118       1,095  

Total reportable segments’ total assets

     6,436       6,325  

Corporate and other

     695       690  

Total

   $ 7,131     $ 7,015  
    Three months ended
    March 31,
   

2026

    

2025

  

Depreciation and amortization:

                

Polyurethanes

   $ 43     $ 39  

Performance Products

     16       15  

Advanced Materials

     12       13  

Total reportable segments’ depreciation and amortization

     71       67  

Corporate and other

     2       2  

Total

   $ 73     $ 69  
    Three months ended
    March 31,
   

2026

    

2025

  

Capital expenditures:

                

Polyurethanes

   $ 21     $ 17  

Performance Products

     8       14  

Advanced Materials

     8       4  

Total reportable segments’ capital expenditures

     37       35  

Corporate and other

     1       1  

Total

   $ 38     $ 36