BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (TABLE)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Property, Plant and Equipment

The range of useful lives for the major components of the Company’s plant and equipment is as follows:

Buildings and leasehold improvements	15 – 40 years
Machinery and equipment
Furnaces	4 – 15 years
Information systems	5 – 10 years
Equipment	5 – 20 years

Property, plant and equipment consist of the following (in millions):

	December 31, 2014			December 31, 2013
Land	$	196		$	210
Buildings and leasehold improvements	789			811
Machinery and equipment	3,405			3,353
Construction in progress	233			173
	4,623			4,547
Accumulated depreciation	(1,724		)	(1,615		)
Property, plant and equipment, net	$	2,899		$	2,932