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RESERVE ROLLFORWARDS | 12 Months Ended
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Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] |
RESERVE ROLLFORWARDS | RESERVE ROLLFORWARDS Valuation and Qualifying Accounts
(Dollars in millions) |  |  | Additions |  |  |  |
| Balance at January 1, 2021 |  | Charges (Credits) to Cost and Expense |  | Other Accounts (1) |  | Deductions (2) |  | Balance at December 31, 2021
Reserve for: |  |  |  |  |  |  |  |  |
Credit losses | $ | 14 |  |  | $ | 4 |  |  | $ | (1) |  |  | $ | — |  |  | $ | 17 |
LIFO inventory | 226 |  |  | 159 |  |  | (30) |  |  | (10) |  |  | 365 |
Non-environmental asset retirement obligations | 51 |  |  | 2 |  |  | (1) |  |  | 1 |  |  | 51 |
Environmental contingencies | 285 |  |  | 11 |  |  | — |  |  | 15 |  |  | 281 |
Deferred tax valuation allowance | 393 |  |  | (55) |  |  | 1 |  |  | — |  |  | 339 |
| $ | 969 |  |  | $ | 121 |  |  | $ | (31) |  |  | $ | 6 |  |  | $ | 1,053 |
(1)Other accounts in the reserve for LIFO inventory is due to assets held for sale classification resulting from the Company entering into a definitive agreement to sell the adhesives resins business. (2)Deductions in the reserve for LIFO inventory is the result of the divestiture of rubber additives. For additional information, see Note 2, "Divestiture and Business Held for Sale".
(Dollars in millions) |  |  | Additions |  |  |  |
| Balance at January 1, 2020 |  | Charges (Credits) to Cost and Expense |  | Other Accounts |  | Deductions |  | Balance at December 31, 2020
Reserve for: |  |  |  |  |  |  |  |  |
Credit losses | $ | 11 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 14 |
LIFO inventory | 248 |  |  | (22) |  |  | — |  |  | — |  |  | 226 |
Non-environmental asset retirement obligations | 48 |  |  | 2 |  |  | 1 |  |  | — |  |  | 51 |
Environmental contingencies | 287 |  |  | 8 |  |  | — |  |  | 10 |  |  | 285 |
Deferred tax valuation allowance | 453 |  |  | (61) |  |  | 1 |  |  | — |  |  | 393 |
| $ | 1,047 |  |  | $ | (69) |  |  | $ | 2 |  |  | $ | 11 |  |  | $ | 969 |
(Dollars in millions) |  |  | Additions |  |  |  |
| Balance at January 1, 2019 |  | Charges (Credits) to Cost and Expense |  | Other Accounts |  | Deductions |  | Balance at December 31, 2019
Reserve for: |  |  |  |  |  |  |  |  |
Credit losses | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |
LIFO inventory | 337 |  |  | (89) |  |  | — |  |  | — |  |  | 248 |
Non-environmental asset retirement obligations | 46 |  |  | 2 |  |  | — |  |  | — |  |  | 48 |
Environmental contingencies | 296 |  |  | 7 |  |  | — |  |  | 16 |  |  | 287 |
Deferred tax valuation allowance | 487 |  |  | (20) |  |  | (14) |  |  | — |  |  | 453 |
| $ | 1,177 |  |  | $ | (100) |  |  | $ | (14) |  |  | $ | 16 |  |  | $ | 1,047 |

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- Definition The entire disclosure for valuation and qualifying accounts and reserves. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 09 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-09) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24092-122690 + Details
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- References No definition available. + Details
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