ASSET IMPAIRMENTS AND RESTRUCTURING

In first six months 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 site in France.

In second quarter 2015, net asset impairments and restructuring charges included $7 million of restructuring charges, primarily for dismantlement related to the closure of the Workington, UK acetate tow manufacturing site. The charges were offset by a pension curtailment gain of $7 million as a result of the site closure.

In first six months 2015, net asset impairments and restructuring charges included $81 million of asset impairments and $14 million of restructuring charges, including severance, in the Fibers segment due to the closure of the Workington, UK acetate tow manufacturing site which was substantially completed in 2015. Additionally, in first six months 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 six months 2016 and full year 2015:



(Dollars in millions)	Balance at January 1, 2016		Provision/ Adjustments			Non-cash Reductions		Cash Reductions			Balance at June 30, 2016
Non-cash charges	$	—	$	—		$	—	$	—		$	—
Severance costs	55		—			—		(21		)	34
Site closure and restructuring costs	11		(2		)	1		(1		)	9
Total	$	66	$	(2	)	$	1	$	(22	)	$	43



(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

Severance payments in first six months 2016 relate primarily to fourth quarter 2015 actions taken to reduce non-operations workforce. Substantially all severance costs remaining are expected to be applied to the reserves within one year.