SEGMENTS AND GEOGRAPHIC REGIONS (Tables)

3 Months Ended

Mar. 31, 2024


Segment Information	Electronics & Industrial		Water & Protection		Corporate & Other		Total
In millions
Three months ended March 31, 2024
Net sales	$	1,365	$	1,291	$	275	$	2,931
Operating EBITDA 1	$	374	$	295	$	13	$	682
Equity in earnings (losses) of nonconsolidated affiliates	$	10	$	9	$	(7)	$	12
Three months ended March 31, 2023
Net sales	$	1,296	$	1,449	$	273	$	3,018
Operating EBITDA 1	$	362	$	344	$	8	$	714
Equity in earnings of nonconsolidated affiliates	$	5	$	10	$	—	$	15

1.A reconciliation of "Income from continuing operations, net of tax" to Operating EBITDA is provided below.

Schedule of Reconciliation of Income from Continuing Operations


Reconciliation of "Income from continuing operations, net of tax" to Operating EBITDA for the Three Months Ended March 31, 2024 and 2023		Three Months Ended March 31,
In millions		2024		2023
Income from continuing operations, net of tax		$	183	$	273
+	Provision for income taxes on continuing operations	84		83
Income from continuing operations before income taxes		$	267	$	356
+	Depreciation and amortization	291		277
-	Interest income 1	20		46
+	Interest expense	96		95
-	Non-operating pension/OPEB benefit credits (costs) 1	7		(2)
-	Foreign exchange gains (losses), net 1	4		(20)
+	Future reimbursable indirect costs	—		2
-	Significant items charge	(59)		(8)
Operating EBITDA		$	682	$	714

1.Included in "Sundry income (expense) - net."

Schedule of Pre-Tax Impact Of Significant Items by Segment

The following tables summarize the pre-tax impact of significant items by segment that are excluded from Operating EBITDA above:


Significant Items by Segment for the Three Months Ended March 31, 2024	Electronics & Industrial		Water & Protection		Corporate & Other		Total
In millions
Restructuring and asset related charges - net 1	$	(8)	$	(22)	$	(9)	$	(39)
Inventory write-offs 2	—		(25)		—		(25)
Acquisition, integration and separation costs 3	(3)		—		—		(3)
Income Tax Items 4	—		—		8		8
Total	$	(11)	$	(47)	$	(1)	$	(59)

1. Includes restructuring actions and asset related charges. See Note 6 for additional information.

2. Reflects raw material inventory write-offs recorded in “Cost of Sales” in connection with restructuring actions related to plant line closures within the Water & Protection segment.

3. Acquisition, integration and separation costs related to the Spectrum Acquisition.

4. Reflects the impact of an international tax audit.


Significant Items by Segment for the Three Months Ended March 31, 2023	Electronics & Industrial		Water & Protection		Corporate & Other		Total
In millions	Electronics & Industrial		Water & Protection		Corporate & Other		Total
Restructuring and asset related charges - net 1	$	(9)	$	—	$	(5)	$	(14)
Gain on divestiture 2	7		—		(1)		6
Total	$	(2)	$	—	$	(6)	$	(8)

1. Includes restructuring actions and asset related charges. See Note 6 for additional information.

2. Reflected in "Sundry income (expense) - net."