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ASSETS IMPAIRMENTS AND RESTRUCTURING | 6 Months Ended
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Jun. 30, 2022
Restructuring Costs and Asset Impairment Charges [Abstract] |
ASSET IMPAIRMENTS AND RESTRUCTURING | ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET
(Dollars in millions) | Second Quarter |  | First Six Months
Tangible Asset Impairments | 2022 |  | 2021 |  | 2022 |  | 2021
Site optimizations |  |  |  |  |  |  |
Other - Tire additives (1) | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |
AM - Advanced interlayers (2) | — |  |  | 1 |  |  | — |  |  | 1 |
| — |  |  | 5 |  |  | — |  |  | 5 |
Loss (Gain) on Sale of Previously Impaired Assets |  |  |  |  |  |  |
Site optimizations |  |  |  |  |  |  |
Other - Tire additives (1) | (1) |  |  | — |  |  | (1) |  |  | — |
AM - Advanced interlayers (2) | 16 |  |  | — |  |  | 16 |  |  | — |
AFP - Animal nutrition (3) | — |  |  | — |  |  | — |  |  | (1) |
| 15 |  |  | — |  |  | 15 |  |  | (1) |
Severance Charges |  |  |  |  |  |  |
Business improvement and cost reduction actions (4) | 2 |  |  | — |  |  | 2 |  |  | — |
Site optimizations |  |  |  |  |  |  |
AM - Performance films (5) | 1 |  |  | — |  |  | 1 |  |  | — |
AM - Advanced interlayers (2) | — |  |  | — |  |  | — |  |  | 1 |
| 3 |  |  | — |  |  | 3 |  |  | 1 |
Other Restructuring Costs |  |  |  |  |  |  |
CI & AFP - Singapore (6) | 1 |  |  | 8 |  |  | 2 |  |  | 13 |
Site optimizations |  |  |  |  |  |  |
AM - Advanced interlayers (2) | — |  |  | 2 |  |  | 1 |  |  | 2 |
Other - Tire additives (1) | — |  |  | — |  |  | — |  |  | 2 |
| 1 |  |  | 10 |  |  | 3 |  |  | 17 |
Total | $ | 19 |  |  | $ | 15 |  |  | $ | 21 |  |  | $ | 22 |
(1)Asset impairment charges, gain on sale of previously impaired assets, and 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. (2)Asset impairment charges, loss on transfer of previously impaired assets to a third party, severance costs, and site closure costs in the Advanced Materials ("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 six months 2021 related to the closure of this facility. (3)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. (4)Severance as part of business improvement which were reported in "Other". (5)Severance charges in the AM segment from the previously reported closure of a performance films manufacturing facility in North America as part of ongoing site optimization. (6)Site closure of $1 million and $2 million for second quarter and first six months 2022, respectively, in the Chemical Intermediates ("CI") segment, contract termination fees in both second quarter and first six months 2021 of $7 million and $1 million in the CI and AFP segments, respectively, and site closure costs in first six months 2021 of $4 million and $1 million in the CI and AFP segments, respectively, resulting from closure of the Singapore manufacturing site. Changes in Reserves The following table summarizes the changes in asset impairments and restructuring reserves in first six months 2022 and full year 2021:
(Dollars in millions) | Balance at January 1, 2022 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at June 30, 2022
Severance costs | $ | 12 |  |  | $ | 3 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 11 |
Other restructuring costs | 5 |  |  | 18 |  |  | — |  |  | (5) |  |  | 18 |
Total | $ | 17 |  |  | $ | 21 |  |  | $ | — |  |  | $ | (9) |  |  | $ | 29 |
(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.

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- 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
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