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ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring Costs and Asset Impairment Charges [Abstract]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following table summarizes the changes in asset impairments and restructuring reserves in first six months 2024 and full year 2023:

(Dollars in millions)			Balance at January 1, 2024						Provision/ Adjustments						Non-cash Reductions/ Additions						Cash Reductions						Balance at June 30, 2024
Severance costs			$	26					$	11					$	—					$	(19)					$	18
Total			$	26					$	11					$	—					$	(19)					$	18

(Dollars in millions)			Balance at January 1, 2023						Provision/ Adjustments						Non-cash Reductions/ Additions						Cash Reductions						Balance at December 31, 2023
Severance costs			$	34					$	31					$	—					$	(39)					$	26
Other restructuring costs			1						6						—						(7)						—
Total			$	35					$	37					$	—					$	(46)					$	26

Restructuring and Related Costs [Table Text Block]

(Dollars in millions)			Second Quarter												First Six Months
			2024						2023						2024						2023
Severance charges (1)			$	—					$	—					11						16
Site closure and other restructuring charges (2)			—						—						—						6
Total			$	—					$	—					$	11					$	22

(1)Severance charges as part of fourth quarter 2022 and 2023 cost reduction initiatives reported in "Other". See Note 14, "Segment Information".

(2)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.

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Tabular 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.

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-Topic 420
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-Name Accounting Standards Codification
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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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