ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2015

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