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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION

As reported in the 2015 Annual Report on Form 10-K, the Company's products and operations were managed and reported in five operating segments: Additives & Functional Products ("AFP"), Adhesives & Plasticizers ("A&P"), Advanced Materials ("AM"), Fibers, and Specialty Fluids & Intermediates ("SFI"). Beginning first quarter 2016, as a result of changes in the Company's organizational structure and management, the Company's products and operations are managed and reported in four operating segments: AFP, AM, Chemical Intermediates ("CI"), and Fibers. The new structure supports the Company's strategy to transform towards a specialty portfolio by better aligning similar businesses in a more streamlined structure.

Under the new structure, the adhesives resins product line of the former A&P segment is moved to the AFP segment, the specialty fluids product line of the former SFI segment is moved to the AFP segment, and the plasticizers product line of the former A&P segment is moved to the new CI segment. In addition to the product line changes, there were shifts in products among product lines in different segments. Acetyl and olefin products with animal nutrition and food ingredient applications of the former SFI segment are moved to the AFP segment as part of the care chemicals and animal nutrition product lines. Distribution solvents, ethylene oxide derivatives, and ethyl acetate products are moved from the AFP segment to the new CI segment in the other intermediates product line.

 
Second Quarter
(Dollars in millions)
2016
 
2015
Sales
 
 
 
Additives & Functional Products
$
770

 
$
830

Advanced Materials
646

 
647

Chemical Intermediates
633

 
745

Fibers
234

 
299

Total Sales by Segment
2,283

 
2,521

Other
14

 
12

Total Sales
$
2,297

 
$
2,533

 
 
 
 
 
First Six Months
(Dollars in millions)
2016
 
2015
Sales
 
 
 
Additives & Functional Products
$
1,507

 
$
1,634

Advanced Materials
1,235

 
1,208

Chemical Intermediates
1,253

 
1,527

Fibers
514

 
583

Total Sales by Segment
4,509

 
4,952

Other
24


24

Total Sales
$
4,533

 
$
4,976

 
Second Quarter
(Dollars in millions)
2016
 
2015
Operating Earnings (Loss)
 
 
 
Additives & Functional Products
$
168

 
$
178

Advanced Materials
132

 
135

Chemical Intermediates
15

 
87

Fibers
72

 
93

Total Operating Earnings by Segment
387

 
493

Other
 

 
 

Growth initiatives and businesses not allocated to segments
(24
)
 
(22
)
Pension and other postretirement benefits income, net not allocated to operating segments
13

 
8

Acquisition integration, transaction, and restructuring costs
—

 
(10
)
Total Operating Earnings
$
376

 
$
469

 
 
 
 
 
 
 
 
 
First Six Months
(Dollars in millions)
2016
 
2015
Operating Earnings (Loss)
 
 
 
Additives & Functional Products
$
321

 
$
335

Advanced Materials
240

 
203

Chemical Intermediates
82

 
205

Fibers
158

 
86

Total Operating Earnings by Segment
801

 
829

Other
 
 
 
Growth initiatives and businesses not allocated to segments
(42
)
 
(48
)
Pension and other postretirement benefit income, net not allocated to operating segments
25

 
17

Acquisition integration, transaction, and restructuring costs
(9
)
 
(18
)
Total Operating Earnings
$
775

 
$
780


 
June 30,
 
December 31,
(Dollars in millions)
2016
 
2015
Assets by Segment (1)
 
 
 
Additives & Functional Products
$
6,394

 
$
6,370

Advanced Materials
4,315

 
4,227

Chemical Intermediates
3,118

 
2,930

Fibers
765

 
969

Total Assets by Segment
14,592

 
14,496

Corporate Assets
990

 
1,084

Total Assets
$
15,582

 
$
15,580



(1) 
The chief operating decision maker holds segment management accountable for accounts receivable, inventory, fixed assets, goodwill, and intangible assets.