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ASSETS IMPAIRMENTS AND RESTRUCTURING | 3 Months Ended
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Mar. 31, 2017
Restructuring Costs and Asset Impairment Charges [Abstract] |
ASSET IMPAIRMENTS AND RESTRUCTURING | ASSET IMPAIRMENTS AND RESTRUCTURING
In first quarter 2017, there were no asset impairment and restructuring charges. In first quarter 2016, there was a gain of $2 million in the Additives & Functional Products segment for the sale of previously impaired assets at the Crystex® insoluble sulfur R&D site in France. 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 2017 and full year 2016:
(Dollars in millions) | Balance at January 1, 2017 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at March 31, 2017
Severance costs | $ | 42 |  |  | $ | — |  |  | $ | — |  |  | $ | (17 | ) |  | $ | 25 |
Site closure and restructuring costs | 13 |  |  | — |  |  | — |  |  | — |  |  | 13 |
Total | $ | 55 |  |  | $ | — |  |  | $ | — |  |  | $ | (17 | ) |  | $ | 38 |
(Dollars in millions) | Balance at January 1, 2016 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at December 31, 2016
Non-cash charges | $ | — |  |  | $ | 12 |  |  | $ | (12 | ) |  | $ | — |  |  | $ | — |
Severance costs | 55 |  |  | 32 |  |  | — |  |  | (45 | ) |  | 42 |
Site closure and restructuring costs | 11 |  |  | 1 |  |  | 4 |  |  | (3 | ) |  | 13 |
Total | $ | 66 |  |  | $ | 45 |  |  | $ | (8 | ) |  | $ | (48 | ) |  | $ | 55 |
Substantially all severance costs remaining are expected to be applied to the reserves within one year.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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