RESERVE ROLLFORWARDS

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

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