XML 34 R17.htm IDEA: XBRL DOCUMENT
v3.22.1

ASSETS IMPAIRMENTS AND RESTRUCTURING | 3 Months Ended
--- | ---
Mar. 31, 2022
Restructuring Costs and Asset Impairment Charges [Abstract] |
ASSET IMPAIRMENTS AND RESTRUCTURING | ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET
(Dollars in millions) | First Quarter |  |
Gain on Sale of Previously Impaired Assets | 2022 |  | 2021 |  |  |  |
Site optimizations |  |  |  |  |  |  |
AFP - Animal nutrition (1) | $ | — |  |  | $ | (1) |  |  |  |  |
| — |  |  | (1) |  |  |  |  |
Severance Charges |  |  |  |  |  |  |
Site optimizations |  |  |  |  |  |  |
AM - Advanced interlayers (2) | — |  |  | 1 |  |  |  |  |
| — |  |  | 1 |  |  |  |  |
Other Restructuring Costs |  |  |  |  |  |  |
CI & AFP - Singapore (3) | 1 |  |  | 5 |  |  |  |  |
Site optimizations |  |  |  |  |  |  |
AM - Advanced interlayers (2) | 1 |  |  | — |  |  |  |  |
Other - Tire additives (4) | — |  |  | 2 |  |  |  |  |
| 2 |  |  | 7 |  |  |  |  |
Total | $ | 2 |  |  | $ | 7 |  |  |  |  |
(1)Fixed asset impairments, net in the AFP segment from the previously reported closure of an animal nutrition manufacturing facility in Asia Pacific as part of ongoing site optimization. (2)Site closure costs in first quarter 2022 and severance costs in first quarter 2021 in the AM segment due to the previously reported closure of an advanced interlayers manufacturing facility in North America as part of ongoing site optimization. In addition, accelerated depreciation of $4 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first quarter 2021 related to the closure of this facility. (3)Site closure costs in first quarter 2022 of $1 million in the Chemical Intermediates ("CI") segment and site closure costs in first quarter 2021 of $4 million and $1 million in the CI and AFP segments, respectively, resulting from closure of the Singapore manufacturing site. (4)Site closure costs in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific as part of ongoing site optimization. Changes in Reserves 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 three months 2022 and full year 2021:
(Dollars in millions) | Balance at January 1, 2022 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at March 31, 2022
Non-cash charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Severance costs | 12 |  |  | — |  |  | — |  |  | (2) |  |  | 10 |
Other restructuring costs | 5 |  |  | 2 |  |  | — |  |  | (4) |  |  | 3 |
Total | $ | 17 |  |  | $ | 2 |  |  | $ | — |  |  | $ | (6) |  |  | $ | 13 |
(Dollars in millions) | Balance at January 1, 2021 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at December 31, 2021
Non-cash charges | $ | — |  |  | $ | 16 |  |  | $ | (16) |  |  | $ | — |  |  | $ | — |
Severance costs | 65 |  |  | 2 |  |  | (1) |  |  | (54) |  |  | 12 |
Other restructuring costs | 14 |  |  | 29 |  |  | (9) |  |  | (29) |  |  | 5 |
Total | $ | 79 |  |  | $ | 47 |  |  | $ | (26) |  |  | $ | (83) |  |  | $ | 17 |
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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration