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ASSETS IMPAIRMENTS AND RESTRUCTURING
 3 Months Ended
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.