CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

6 Months Ended

Jun. 30, 2015

Restructuring Cost and Reserve [Line Items]

CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

Items Included in Our Restructuring, Closure and Asset Impairment Charges



	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	JUNE 2015		JUNE 2014		JUNE 2015		JUNE 2014
Restructuring and closure charges:
Termination benefits	$	—	$	6	$	—	$	23
Other restructuring and closure costs	—		1		1		3
Charges for restructuring and closures	—		7		1		26
Impairments of long-lived assets	—		1		13		1
Total charges for restructuring, closures and impairments	$	—	$	8	$	14	$	27

During 2015, we recognized a noncash impairment charge of $13 million in first quarter 2015 related to a nonstrategic asset held in Unallocated Items that was sold in second quarter 2015. The fair value of the asset was determined using significant unobservable inputs (level 3) based on discounted cash flow model. During 2014, our restructuring and closure charges were primarily related to our selling, general and administrative cost reduction initiative to support achieving our competitive performance goals.

Changes in accrued severance related to restructuring during the year-to-date period ended June 30, 2015 were as follows:



DOLLAR AMOUNTS IN MILLIONS
Accrued severance as of December 31, 2014	$	10
Charges	—
Payments	(7		)
Accrued severance as of June 30, 2015	$	3

The majority of the accrued severance balance as of June 30, 2015, is expected to be paid within one year.