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ASSETS IMPAIRMENTS AND RESTRUCTURING | 6 Months Ended
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Jun. 30, 2023
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
| 2023 |  | 2022 |  | 2023 |  | 2022
Net loss on sale of previously impaired assets (1) | $ | — |  |  | $ | 15 |  |  | $ | — |  |  | $ | 15 |
Severance charges (2)(3) | — |  |  | 3 |  |  | 16 |  |  | 3 |
Site closure and other restructuring charges (4) (5) (6) | — |  |  | 1 |  |  | 6 |  |  | 3 |
Total | $ | — |  |  | $ | 19 |  |  | $ | 22 |  |  | $ | 21 |
(1)Second quarter and first six months 2022 includes a $16 million loss on transfer of previously impaired assets to a third party in the Advanced Materials ("AM") segment for the previously reported closure of an advanced interlayers manufacturing facility in North America, partially offset by a $1 million gain on sale of previously impaired assets reported in "Other" from the previously reported closure of a tire additives manufacturing facility in Asia Pacific. (2)First six months 2023 severance charges as part of fourth quarter 2022 cost reduction initiatives reported in "Other". (3)Second quarter and first six months 2022 severance charges of $2 million as part of business improvement reported in "Other" and $1 million in the AM segment from the previously reported closure of a performance films manufacturing facility in North America. (4)First six months 2023 site closure costs related to the closure of an acetate yarn manufacturing facility in Europe in the Fibers segment. In addition, accelerated depreciation of $23 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first six months 2023 related to the closure of this facility. (5)Site closure costs of $1 million and $2 million in second quarter and first six months 2022, respectively, in the CI segment resulting from the closure of a Singapore manufacturing site. (6)Site closure costs of $1 million in first six months 2022 in the AM segment from the closure of an advanced interlayers manufacturing facility in North America. Changes in Reserves The following table summarizes the changes in asset impairments and restructuring reserves in first six months 2023 and full year 2022:
(Dollars in millions) | Balance at January 1, 2023 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at June 30, 2023
Severance costs | $ | 34 |  |  | $ | 16 |  |  | $ | — |  |  | $ | (29) |  |  | $ | 21 |
Other restructuring costs | 18 |  |  | 6 |  |  | — |  |  | (23) |  |  | 1 |
Total | $ | 52 |  |  | $ | 22 |  |  | $ | — |  |  | $ | (52) |  |  | $ | 22 |
(Dollars in millions) | Balance at January 1, 2022 |  | Provision/ Adjustments |  | Non-cash Reductions/ Additions |  | Cash Reductions |  | Balance at December 31, 2022
Severance costs | $ | 12 |  |  | $ | 31 |  |  | $ | — |  |  | $ | (9) |  |  | $ | 34 |
Other restructuring costs | 5 |  |  | 21 |  |  | 1 |  |  | (9) |  |  | 18 |
Total | $ | 17 |  |  | $ | 52 |  |  | $ | 1 |  |  | $ | (18) |  |  | $ | 52 |
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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