ASSET IMPAIRMENTS AND RESTRUCTURING

In first quarter 2016, there were net asset impairments and restructuring gains of $2 million in the AFP segment for the sale of previously impaired assets at the Crystex^® R&D facility in France.

In first quarter 2015 there were net asset impairments and restructuring charges of $109 million. Net asset impairments and restructuring charges included $81 million of asset impairments and $16 million of restructuring charges, including severance, in the Fibers segment due to the closure of the Workington, UK acetate tow manufacturing facility which was substantially completed in 2015. Additionally, in first quarter 2015, management decided not to continue a growth initiative that was reported in "Other". This resulted in the Company recognizing asset impairments of $8 million and restructuring charges of $4 million.

Changes in Reserves for Asset Impairments, Restructuring Charges, Net, and Severance Charges

The following table summarizes the changes in asset impairments and restructuring charges and gains, the non-cash reductions attributable to asset impairments, and the cash reductions in restructuring reserves for severance costs and site closure costs paid in first three months 2016 and full year 2015:



(Dollars in millions)	Balance at January 1, 2016		Provision/ Adjustments			Non-cash Reductions		Cash Reductions			Balance at March 31, 2016
Non-cash charges	$	—	$	—		$	—	$	—		$	—
Severance costs	55		—			—		(8		)	47
Site closure and restructuring costs	11		(2		)	1		—			10
Total	$	66	$	(2	)	$	1	$	(8	)	$	57



(Dollars in millions)	Balance at January 1, 2015		Provision/ Adjustments		Non-cash Reductions			Cash Reductions			Balance at December 31, 2015
Non-cash charges	$	—	$	107	$	(107	)	$	—		$	—
Severance costs	13		67		1			(26		)	55
Site closure and restructuring costs	15		9		3			(16		)	11
Total	$	28	$	183	$	(103	)	$	(42	)	$	66

Substantially all severance costs remaining are expected to be applied to the reserves within one year.