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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2015
Taminco [Member] |
Acquired Finite-Lived Intangible Assets [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the final purchase price allocation for the Taminco acquisition, all adjustments from preliminary values did not have a material impact on the Company's results of operations:
Assets acquired and liabilities assumed |  |  |  |  |
(Dollars in millions) | As of December 5, 2014 |  | 2015 Net Adjustments to Fair Value |  | December 31, 2015
Current assets | $ | 266 |  |  | $ | 1 |  |  | $ | 267 |
Properties and equipment | 658 |  |  | 3 |  |  | 661 |
Intangible assets | 1,002 |  |  | (17 | ) |  | 985 |
Other noncurrent assets | 37 |  |  | 5 |  |  | 42 |
Goodwill | 1,509 |  |  | 46 |  |  | 1,555 |
Current liabilities | (161 | ) |  | 4 |  |  | (157 | )
Long-term liabilities | (546 | ) |  | (42 | ) |  | (588 | )
Total purchase price, net of cash acquired | $ | 2,765 |  |  | $ | — |  |  | $ | 2,765 |
Schedule of Intangible Assets Acquired in Business Combination | Acquired intangible assets are definite-lived assets and consist primarily of customer relationships, developed technologies, and contracts. Customer relationships acquired are in industries such as agriculture and personal care. The Company has concluded that it has a favorable methanol supply contract. In addition, assets acquired include technologies related to many products protected by a number of existing patents and trade secrets. Management valued customer relationships using the excess from earnings method, contracts using the Black Scholes model, and developed technologies using the relief from royalty method. All valuation methods are forms of the income approach supported by observable market data for peer chemical companies.
Intangible Assets acquired |  |  |
(Dollars in millions) | Fair Value |  | Weighted-Average Amortization Period (Years)
Amortizable intangible assets |  |  |
Customer relationships | $ | 604 |  |  | 24
Developed technologies | 201 |  |  | 17
Contracts | 180 |  |  | 5
Total | $ | 985 |  |  |
Business Combination, Segment Allocation [Table Text Block] |
Goodwill | Goodwill by Segment
(Dollars in millions) |
Additives & Functional Products | $ | 916 |
Specialty Fluids & Intermediates | 639 |
Total | $ | 1,555 |
Schedule of Business Acquisition Pro Forma Information |
| For years ended December 31,
(Unaudited, dollars in millions) | 2014 |  | 2013
Pro forma sales | $ | 10,819 |  |  | $ | 10,550 |
Pro forma earnings from continuing operations | 834 |  |  | 1,101 |
Commonwealth [Member] |
Acquired Finite-Lived Intangible Assets [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
Assets acquired and liabilities assumed |
(Dollars in millions) | As of December 11, 2014
Current assets | $ | 51 |
Machinery and equipment | 38 |
Goodwill | 274 |
Intangible assets | 125 |
Long-term liabilities | (50 | )
Total purchase price | $ | 438 |
Schedule of Intangible Assets Acquired in Business Combination | Acquired intangible assets included customer relationships and developed technologies in the window film industry. Also acquired was the SunTek® brand name that is business-to-business in nature. Management valued intangible assets using the relief from royalty and multi-period excess earnings methods, both forms of the income approach supported by observable market data for peer chemical companies.
Intangible Assets acquired |  |  |
(Dollars in millions) | Fair Value |  | Weighted-Average Amortization Period (Years)
Amortizable intangible assets |  |  |
Customer relationships | $ | 72 |  |  | 14
Developed technologies | 41 |  |  | 18
Indefinite-lived intangible asset |  |  |
Brand name | 12 |  |  |
Total | $ | 125 |  |  |
BP plc [Member] |
Acquired Finite-Lived Intangible Assets [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the final purchase price allocation for the aviation turbine oil business acquisition. Adjustments from preliminary values did not have a material impact on the Company's results of operations:
Assets acquired and liabilities assumed |  |
(Dollars in millions) |  | As of June 2, 2014
Current assets |  | $ | 42 |
Machinery and equipment |  | 10 |
Goodwill |  | 92 |
Intangible assets |  | 139 |
Total purchase price |  | $ | 283 |
Schedule of Intangible Assets Acquired in Business Combination | Intangible assets acquired included brands that are business-to-business in nature. Also acquired were customer relationships in the aviation industry. Management valued intangible assets using the relief from royalty and multi-period excess earnings methods, both forms of the income approach supported by observable market data for peer chemical companies.
Intangible Assets acquired |  |  |
(Dollars in millions) | Fair Value |  | Weighted-Average Amortization Period (Years)
Amortizable intangible assets |  |  |
Brands | $ | 74 |  |  | 30
Customer relationships | 65 |  |  | 16
Total | $ | 139 |  |  |

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