ACCRUED LIABILITIES

6 Months Ended

Jun. 30, 2017

ACCRUED LIABILITIES

ACCRUED LIABILITIES

Accrued liabilities were comprised of the following:

DOLLAR AMOUNTS IN MILLIONS	JUNE 30, 2017		DECEMBER 31, 2016
Wages, salaries and severance pay	$	118	$	178
Pension and other postretirement benefits	48		49
Vacation pay	35		33
Taxes – Social Security and real and personal property	31		20
Interest	118		120
Customer rebates and volume discounts	39		39
Deferred income	64		40
Accrued income taxes	12		139
Product remediation accrual (1)	50		—
Other	70		74
Total	$	585	$	692

(1) In the second quarter of 2017, we recorded a $50 million accrual for estimated costs to remediate an issue with certain I-joists coated with our Flak Jacket® Protection product. Refer to Note 12: Legal Proceedings, Commitments and Contingencies for additional details.