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RESTRUCTURING CHARGES | 6 Months Ended
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Jun. 30, 2026
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | NOTE 4. RESTRUCTURING CHARGES Prior restructuring and optimization efforts, which have been previously announced and which we continue to execute on, include: •closure of the epoxy resin manufacturing facility in Guarujá, Brazil, announced in fourth quarter 2025; •closure of Chlorine 3 manufacturing facility in Freeport, TX announced in December 2024; •reduction of epoxy resin capacity at Freeport, TX facility, ceasing of remaining operations at Gumi, South Korea facility and reduction of sales and support staffing across Asia all announced in June 2023; •closure of cumene facility in Terneuzen, Netherlands and ceasing of solid epoxy resin production at Gumi, South Korea announced in March 2023; •closure of one of our bisphenol production lines at Stade, Germany site announced in 2022; •closure of diaphragm-grade chlor alkali capacity of 400,000 tons at McIntosh, AL facility announced in 2021; •closure of trichloroethylene and anhydrous hydrogen chloride liquefaction facilities in Freeport, TX announced in 2021; and •closure of chlor alkali plant with capacity of 230,000 tons and vinylidene chlorine production facility, both in Freeport, TX announced in 2019. Pretax restructuring charges related to these actions include facility exit costs, lease and other contract termination costs, employee severance and related benefits costs and the write-off of equipment and facilities. The following table summarizes the restructuring activity by component and the remaining balances in accrued restructuring costs as of June 30, 2026 and 2025:
| Employee Severance and Related Benefit Costs |  | Lease and Other Contract Termination Costs |  | Facility Exit Costs |  | Write-off of Equipment and Facility |  | Total
Restructuring Reserve Rollforward | ($ in millions)
Balance at January 1, 2025 | $ | 3.1 |  |  | $ | 5.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 8.3 |
Restructuring charges: |  |  |  |  |  |  |  |  |
First quarter | 1.6 |  |  | 0.2 |  |  | 2.2 |  |  | — |  |  | 4.0 |
Second quarter | 3.8 |  |  | — |  |  | 3.6 |  |  | — |  |  | 7.4 |
Amounts utilized | (2.9) |  |  | (5.3) |  |  | (5.8) |  |  | — |  |  | (14.0) |
Balance at June 30, 2025 | $ | 5.6 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 5.7 |
Balance at January 1, 2026 | $ | 11.8 |  |  | $ | 6.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 18.5 |
Restructuring charges: |  |  |  |  |  |  |  |  |
First quarter | 4.1 |  |  | 0.1 |  |  | 4.1 |  |  | 0.8 |  |  | 9.1 |
Second quarter | — |  |  | — |  |  | 8.9 |  |  | 1.6 |  |  | 10.5 |
Amounts utilized | (4.5) |  |  | (1.1) |  |  | (13.0) |  |  | (2.4) |  |  | (21.0) |
Balance at June 30, 2026 | $ | 11.4 |  |  | $ | 5.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 17.1 |
The following table summarizes the cumulative restructuring charges for each segment related to the restructuring and optimization efforts summarized above, by component, through June 30, 2026:
| Chlor Alkali Products and Vinyls |  | Epoxy |  | Other |  | Total
Cumulative Restructuring Charges | ($ in millions)
Write-off of equipment and facility | $ | 61.6 |  |  | $ | 24.9 |  |  | $ | — |  |  | $ | 86.5 |
Employee severance and related benefit costs | 12.5 |  |  | 20.6 |  |  | 3.1 |  |  | 36.2 |
Facility exit costs | 70.0 |  |  | 41.6 |  |  | — |  |  | 111.6 |
Lease and other contract termination costs | 6.9 |  |  | 38.3 |  |  | — |  |  | 45.2 |
Total cumulative restructuring charges | $ | 151.0 |  |  | $ | 125.4 |  |  | $ | 3.1 |  |  | $ | 279.5 |
As of June 30, 2026, we have incurred cumulative restructuring-related cash expenditures of $175.9 million and non-cash charges of $86.5 million related to our restructuring actions. The remaining accrued restructuring liability of $17.1 million is expected to be paid out through 2030. We expect to incur additional restructuring charges through 2030 of approximately $70 million related to these actions.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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