XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.8.0.1

ASSETS IMPAIRMENTS AND RESTRUCTURING | 9 Months Ended
--- | ---
Sep. 30, 2017
Restructuring Costs and Asset Impairment Charges [Abstract] |
ASSET IMPAIRMENTS AND RESTRUCTURING | ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET
| Third Quarter |  | First Nine Months
(Dollars in millions) | 2017 |  | 2016 |  | 2017 |  | 2016
Severance | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | 30 |
Gain on sale of assets | — |  |  | — |  |  | — |  |  | (2 | )
Total | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | 28 |
As part of the Company's previously announced plan to reduce costs primarily in 2017, the Company recognized restructuring charges of $30 million for severance in third quarter 2016. In first nine months 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 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 nine months 2017 and full year 2016:
(Dollars in millions) | Balance at January 1, 2017 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at September 30, 2017
Severance costs | $ | 42 |  |  | $ | — |  |  | $ | 1 |  |  | $ | (26 | ) |  | $ | 17 |
Site closure and restructuring costs | 13 |  |  | — |  |  | 1 |  |  | (5 | ) |  | 9 |
Total | $ | 55 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (31 | ) |  | $ | 26 |
(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.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringCostsAndAssetImpairmentChargesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_RestructuringImpairmentAndOtherActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration