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ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables) | 9 Months Ended
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Sep. 30, 2020
Restructuring Costs and Asset Impairment Charges [Abstract] |
Restructuring and Related Costs [Table Text Block] |
(Dollars in millions) | Third Quarter |  | First Nine Months
Fixed Asset Impairments | 2020 |  | 2019 |  | 2020 |  | 2019
Site optimizations |  |  |  |  |  |  |
AFP - Tire additives (1) | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |
AM - Performance films (2) | — |  |  | — |  |  | 4 |  |  | — |
AFP - Animal nutrition (3) | — |  |  | — |  |  | 3 |  |  | — |
Discontinuation of growth initiatives (4) | — |  |  | — |  |  | 8 |  |  | — |
| — |  |  | — |  |  | 20 |  |  | — |
Intangible Asset Impairments |  |  |  |  |  |  |
AFP - Tradenames (5) | — |  |  | — |  |  | 123 |  |  | — |
AFP - Customer relationships (6) | — |  |  | — |  |  | 2 |  |  | — |
| — |  |  | — |  |  | 125 |  |  | — |
Severance Charges |  |  |  |  |  |  |
Business improvement and cost reduction actions (7) | 46 |  |  | 1 |  |  | 46 |  |  | 45 |
CI & AFP - Singapore (8) | 2 |  |  | — |  |  | 5 |  |  | — |
Site optimizations |  |  |  |  |  |  |
AM - Advanced interlayers (9) | 3 |  |  | — |  |  | 3 |  |  | — |
AFP - Tire additives (1) | 1 |  |  | — |  |  | 1 |  |  | — |
AM - Performance films (2) | — |  |  | — |  |  | 3 |  |  | — |
AFP - Animal nutrition (3) | — |  |  | — |  |  | 1 |  |  | — |
| 52 |  |  | 1 |  |  | 59 |  |  | 45 |
Other Restructuring Costs |  |  |  |  |  |  |
Cost reduction initiatives (7) | 7 |  |  | 1 |  |  | 7 |  |  | 3 |
Discontinuation of growth initiatives contract termination fees (4) | 1 |  |  | — |  |  | 4 |  |  | — |
AFP - Discontinued capital project (10) | — |  |  | — |  |  | — |  |  | 4 |
| 8 |  |  | 1 |  |  | 11 |  |  | 7 |
Total | $ | 60 |  |  | $ | 2 |  |  | $ | 215 |  |  | $ | 52 |
(1)Fixed asset impairments and severance in the Additives & Functional Products ("AFP") segment from the closure of a tire additives manufacturing facility in Asia Pacific as part of ongoing site optimization. (2)Fixed asset impairments and severance in the Advanced Materials ("AM") segment from the closure of a performance films manufacturing facility in North America as part of ongoing site optimization. (3)Fixed asset impairments and severance in the AFP segment from the closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization. (4)Fixed asset impairments and contract termination fees resulting from management's decision to discontinue growth initiatives for polyester based microfibers, including Avra™ performance fibers, the financial results of which were not allocated to an operating segment and reported in "Other". (5)Intangible asset impairment charges in the AFP segment tire additives business to reduce the carrying values of the Crystex™ and Santoflex™ tradenames to the estimated fair values. The estimated fair values were determined using an income approach, specifically, the relief from royalty method, including some unobservable inputs. The impairments are primarily the result of weakened demand in transportation markets impacted by COVID-19 and increased competitive pricing pressure as a result of global capacity increases. (6)Intangible asset impairment charge in the AFP segment for customer relationships. (7)Severance and related costs as part of business improvement and cost reduction initiatives which were reported in "Other". (8)Severance charges of $1 million and $4 million in third quarter and first nine months 2020, respectively, in the Chemical Intermediates ("CI") segment, and $1 million in both third quarter and first nine months 2020 in the AFP segment, resulting from the previously disclosed plan to discontinue production of certain products at the Singapore manufacturing site. Restructuring charges totaling up to $50 million are expected through 2020 and 2021 for this action. (9)Severance in the AM segment due to the closure of an advanced interlayers manufacturing facility in North America as part of ongoing site optimization. In addition, accelerated depreciation of $7 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in third quarter 2020 related to the closure of this facility. Management expects total charges of up to $30 million, mostly in "Cost of sales" and in "Asset impairments and restructuring charges, net" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings, in 2020 and 2021 for the closure of this facility. (10)Additional restructuring charge related to a capital project in the AFP segment that was discontinued in 2016.
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table summarizes the changes in asset impairments and restructuring charges, 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 2020 and full year 2019:
(Dollars in millions) | Balance at January 1, 2020 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at September 30, 2020
Non-cash charges | $ | — |  |  | $ | 145 |  |  | $ | (145) |  |  | $ | — |  |  | $ | — |
Severance costs | 17 |  |  | 60 |  |  | — |  |  | (12) |  |  | 65 |
Other restructuring costs | 11 |  |  | 10 |  |  | — |  |  | (8) |  |  | 13 |
Total | $ | 28 |  |  | $ | 215 |  |  | $ | (145) |  |  | $ | (20) |  |  | $ | 78 |
(Dollars in millions) | Balance at January 1, 2019 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at December 31, 2019
Non-cash charges | $ | — |  |  | $ | 72 |  |  | $ | (72) |  |  | $ | — |  |  | $ | — |
Severance costs | 6 |  |  | 45 |  |  | — |  |  | (34) |  |  | 17 |
Other restructuring costs | 8 |  |  | 9 |  |  | 1 |  |  | (7) |  |  | 11 |
Total | $ | 14 |  |  | $ | 126 |  |  | $ | (71) |  |  | $ | (41) |  |  | $ | 28 |

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- Definition Tabular 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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