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Restructuring and Impairment Charges (Tables) | 6 Months Ended
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Jun. 30, 2021
Restructuring and Impairment Charges |
Summary of classes of assets and liabilities classified as held-for-sale reflected in balance sheet | ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​
(in millions) | ​ | June 30, 2021 | ​
Cash and cash equivalents |  | $ | 2 | ​
Accounts receivable, net | ​ | ​ | 29 | ​
Inventories | ​ | ​ | 29 | ​
Prepaid expenses | ​ | ​ | 1 | ​
Property, plant and equipment, net | ​ | ​ | 58 | ​
Other assets | ​ | ​ | 1 | ​
Impairment provision to record at fair value, less cost to sell | ​ | ​ | (49) | ​
Assets held for sale | ​ | $ | 71 | ​
​ | ​ | ​ | ​ | ​
Accounts payable | ​ | $ | 18 | ​
Accrued liabilities | ​ | ​ | 6 | ​
Impairment provision related to cumulative translation losses | ​ | ​ | 311 | ​
Liabilities held for sale | ​ | $ | 335 | ​
​ | ​ | ​ | ​ | ​
Summary of restructuring reserve | A summary of the Company’s employee-related severance accrual as of June 30, 2021 is as follows (in millions): ​
​ | ​ | ​ | ​ | ​
Balance in severance accrual as of December 31, 2020 |  | $ | 12 | ​
Joint venture related | ​ | ​ | 1 | ​
Cost Smart Cost of sales and SG&A | ​ | ​ | 1 | ​
Payments made to terminated employees | ​ | ​ | (8) | ​
Balance in severance accrual as of June 30, 2021 |  | $ | 6 | ​

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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