v3.26.1
Net Sales (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Net Sales by Geographical Region and Segment and Product Group

The following table sets forth a disaggregation of the Company’s net sales by geographic region and segment for the three and six months ended June 30, 2026 and 2025.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net sales by geographic region (1)

 

 

 

 

 

 

 

 

 

 

 

 

North America:

 

 

 

 

 

 

 

 

 

 

 

 

Thermal & Specialized Solutions

 

$

340

 

 

$

336

 

 

$

665

 

 

$

569

 

Titanium Technologies

 

 

267

 

 

 

282

 

 

 

502

 

 

 

550

 

Advanced Performance Materials

 

 

140

 

 

 

125

 

 

 

235

 

 

 

236

 

Other Non-Reportable Segment

 

 

7

 

 

 

10

 

 

 

15

 

 

 

17

 

Total North America

 

 

754

 

 

 

753

 

 

 

1,417

 

 

 

1,372

 

Asia Pacific:

 

 

 

 

 

 

 

 

 

 

 

 

Thermal & Specialized Solutions

 

 

72

 

 

 

59

 

 

 

142

 

 

 

113

 

Titanium Technologies

 

 

124

 

 

 

125

 

 

 

200

 

 

 

229

 

Advanced Performance Materials

 

 

117

 

 

 

147

 

 

 

207

 

 

 

261

 

Other Non-Reportable Segment

 

 

4

 

 

 

3

 

 

 

6

 

 

 

6

 

Total Asia Pacific

 

 

317

 

 

 

334

 

 

 

555

 

 

 

609

 

Europe, the Middle East, and Africa:

 

 

 

 

 

 

 

 

 

 

 

 

Thermal & Specialized Solutions

 

 

97

 

 

 

112

 

 

 

195

 

 

 

210

 

Titanium Technologies

 

 

156

 

 

 

156

 

 

 

307

 

 

 

297

 

Advanced Performance Materials

 

 

57

 

 

 

60

 

 

 

109

 

 

 

116

 

Other Non-Reportable Segment

 

 

2

 

 

 

2

 

 

 

4

 

 

 

3

 

Total Europe, the Middle East, and Africa

 

 

312

 

 

 

330

 

 

 

615

 

 

 

626

 

Latin America (2):

 

 

 

 

 

 

 

 

 

 

 

 

Thermal & Specialized Solutions

 

 

82

 

 

 

90

 

 

 

156

 

 

 

171

 

Titanium Technologies

 

 

114

 

 

 

94

 

 

 

211

 

 

 

178

 

Advanced Performance Materials

 

 

12

 

 

 

14

 

 

 

18

 

 

 

26

 

Other Non-Reportable Segment

 

 

 

 

 

 

 

 

 

 

 

1

 

Total Latin America

 

 

208

 

 

 

198

 

 

 

385

 

 

 

376

 

Total net sales

 

$

1,591

 

 

$

1,615

 

 

$

2,972

 

 

$

2,983

 

(1)
Net sales are attributed to countries based on customer location.
(2)
Latin America includes Mexico.

The following table sets forth a disaggregation of the Company’s net sales by product group and segment for the three and six months ended June 30, 2026 and 2025.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net sales by product group and segment

 

 

 

 

 

 

 

 

 

 

 

 

OpteonTM refrigerants

 

$

337

 

 

$

375

 

 

$

650

 

 

$

654

 

FreonTM refrigerants

 

 

150

 

 

 

123

 

 

 

312

 

 

 

220

 

Foam, propellants, and other

 

 

104

 

 

 

99

 

 

 

196

 

 

 

189

 

Total Thermal & Specialized Solutions

 

 

591

 

 

 

597

 

 

 

1,158

 

 

 

1,063

 

Titanium dioxide

 

 

639

 

 

 

629

 

 

 

1,180

 

 

 

1,204

 

Minerals & Other

 

 

22

 

 

 

28

 

 

 

40

 

 

 

50

 

Total Titanium Technologies

 

 

661

 

 

 

657

 

 

 

1,220

 

 

 

1,254

 

Advanced materials

 

 

184

 

 

 

214

 

 

 

326

 

 

 

391

 

Performance solutions

 

 

142

 

 

 

132

 

 

 

243

 

 

 

248

 

Total Advanced Performance Materials

 

 

326

 

 

 

346

 

 

 

569

 

 

 

639

 

Performance chemicals and intermediates

 

 

13

 

 

 

15

 

 

 

25

 

 

 

27

 

Total Other Non-Reportable Segment

 

 

13

 

 

 

15

 

 

 

25

 

 

 

27

 

Total net sales

 

$

1,591

 

 

$

1,615

 

 

$

2,972

 

 

$

2,983

 

Summary of Contract Balances from Contracts with Customers

The following table sets forth the Company’s contract balances from contracts with customers at June 30, 2026 and December 31, 2025.

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Contract assets:

 

 

 

 

 

 

Accounts receivable - trade, net (Note 8)

 

$

773

 

 

$

562

 

Contract liabilities:

 

 

 

 

 

 

Deferred revenue

 

$

8

 

 

$

5

 

Customer rebates (Note 14)

 

 

50

 

 

 

75