ASSETS IMPAIRMENTS AND RESTRUCTURING

9 Months Ended

Sep. 30, 2025

Restructuring Costs and Asset Impairment Charges [Abstract]

ASSET IMPAIRMENTS, RESTRUCTURING, AND OTHER CHARGES, NET


(Dollars in millions)	Third Quarter				First Nine Months
	2025		2024		2025		2024

Asset impairments (1)	$	—	$	5	$	—	$	5
Severance charges (1)(2)(3)(4)	14		10		25		21
Restructuring and other charges (1)(2)(4)	6		15		17		15
Total	$	20	$	30	$	42	$	41

(1)Third quarter and first nine months 2024 included asset impairment charges of $5 million, severance charges of $4 million, and site closure costs of $9 million related to the planned closure of a solvent-based resins production line at an advanced interlayers facility in North America in the Advanced Materials ("AM") segment. In addition, inventory adjustments of $4 million and $3 million in the AM segment and the Additives & Functional Products ("AFP") segment, respectively, were recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in third quarter and first nine months 2024 related to this closure.

(2)Third quarter and first nine months 2025 included severance charges of $4 million, and restructuring charges of $6 million related to the decommissioning of certain assets at performance films facilities in North America in the AM segment. In addition, inventory adjustments of $2 million in the AM segment were recognized in "Cost of sales" in the Unaudited Consolidated Statement of Earnings, Comprehensive Income, and Retained Earnings in third quarter and first nine months 2025 related to this decommissioning.

(3)Third quarter and first nine months 2025 included severance charges of $10 million and $20 million, respectively, related to corporate cost reduction initiatives reported in "Other". Additionally, third quarter and first nine months 2024 included severance charges of $6 million and $17 million, respectively, related to corporate cost reduction initiatives which are reported in "Other".

(4)First nine months 2025 included severance charges of $1 million and restructuring charges of $3 million related to the closure of a heat-transfer fluids production line at a North America specialty fluids and energy facility in the AFP segment.

(5)First nine months 2025 included charges of $8 million and third quarter and first nine months 2024 included charges of $6 million related to profitability improvement initiatives which are reported in "Other".

Changes in Reserves

The following table summarizes the changes in asset impairments and restructuring reserves in first nine months 2025 and full year 2024:


(Dollars in millions)	Balance at January 1, 2025		Provision/ Adjustments		Non-cash Reductions/ Additions		Cash Reductions		Balance at September 30, 2025

Severance charges	$	23	$	25	$	—	$	(26)	$	22
Restructuring and other charges	3		17		—		(16)		4
Total	$	26	$	42	$	—	$	(42)	$	26


(Dollars in millions)	Balance at January 1, 2024		Provision/ Adjustments		Non-cash Reductions/ Additions		Cash Reductions		Balance at December 31, 2024
Non-cash charges	$	—	$	5	$	(5)	$	—	$	—
Severance charges	26		25		—		(28)		23
Restructuring and other charges	—		21		—		(18)		3
Total	$	26	$	51	$	(5)	$	(46)	$	26

Substantially all severance charges remaining as of September 30, 2025 are expected to be paid within one year.