EMPLOYEE SEPARATION/ASSET RELATED CHARGES, NET

At December 31, 2014, total liabilities related to restructuring activities were $277, primarily related to the 2014 restructuring program.

2014 Restructuring Program

In June 2014, DuPont announced its global, multi-year initiative to redesign its global organization and operating model to reduce costs and improve productivity and agility across all businesses and functions. DuPont commenced a restructuring plan to realign and rebalance staff function support, enhance operational efficiency, and to reduce residual costs associated with the separation of its Performance Chemicals segment. As a result, during the year ended December 31, 2014 a pre-tax charge of $562 was recorded, consisting of $497 in employee separation / asset related charges, net and $65 in other income, net. The charges consisted of $319 of employee separation charges, $17 of other non-personnel charges, and $226 of asset related charges, including $65 of charges associated with the restructuring actions of a joint venture within the Performance Materials segment. At December 31, 2014, total liabilities related to the 2014 restructuring program were $268. The actions associated with this charge and all related payments are expected to be substantially complete by mid-2016. The company anticipates that it will incur future charges, which it cannot reasonably estimate at this time, related to this plan as it implements additional actions.

The 2014 restructuring program charges impacted segment earnings, as follows, for the year ended December 31, 2014: Agriculture - $134, Electronics & Communications - $84, Industrial Biosciences - $13, Nutrition & Health - $15, Performance Chemicals - $21, Performance Materials - $99, and Safety & Protection - $52, Other - $22, as well as Corporate expenses - $122.

Account balances and activity for the 2014 restructuring program are summarized below:



	Employee Separation Costs			Asset Related Charges			Other Non-Personnel Charges¹			Total
Charges to income for the year ended December 31, 2014	$	319		$	226		$	17		$	562
Charges to accounts:
Payments	(47		)	—			(13		)	(60		)
Net translation adjustment	(8		)	—			—			(8		)
Asset write-offs and adjustments	—			(226		)	—			(226		)
Balance as of December 31, 2014	$	264		$	—		$	4		$	268


^1.	Other non-personnel charges consist of contractual obligation costs.

2012 Restructuring Program

In 2012, the company commenced a restructuring plan to increase productivity, enhance competitiveness and accelerate growth. As a result, pre-tax charges of $234 were recorded in employee separation / asset related charges, net. The 2012 charges consisted of $157 of employee separation costs, $8 of other non-personnel charges, and $69 of asset related charges, which included $30 of asset impairments and $39 of asset shut downs.

In addition to the programs discussed above, a charge of $19, which included $9 recorded in employee separation / asset related charges, net and $10 recorded in other income, net, was taken in the fourth quarter 2013. This charge was a result of restructuring actions including employee separation and asset related costs related to a joint venture in the Performance Materials segment.

The actions and payments related to the 2012 restructuring program were substantially complete as of December 31, 2013.

Asset Impairments

In the fourth quarter 2013, as a result of strategic decisions related to the thin film photovoltaic market, and during 2012, as a result of deteriorating conditions in the thin film photovoltaic market, the company determined that impairment triggering events had occurred and that assessments of the asset group related to its thin film photovoltaic modules and systems were warranted. These assessments determined that the carrying value of the asset group exceeded its fair value. As a result of the impairment tests, $129 and $150 of pre-tax impairment charges were recorded during 2013 and 2012, respectively, within the Electronics & Communications segment.

During 2012, as a result of strategic decisions related to deteriorating conditions within a specific industrial chemicals market, the company determined that an impairment triggering event had occurred and that an assessment of the asset group related to this industrial chemical was warranted. This assessment determined that the carrying value of the asset group exceeded its fair value. As a result of the impairment test, a $33 pre-tax impairment charge was recorded within the Performance Chemicals segment.

During 2012, as a result of deteriorating conditions in an industrial polymer market, the company determined that an impairment triggering event had occurred and that an assessment of the asset group related to this polymer product was warranted. This assessment determined that the carrying value of the asset group exceeded its fair value. As a result of the impairment test, a $92 pre-tax impairment charge was recorded within the Performance Materials segment.

The bases of the fair value for the charges above were calculated utilizing a discounted cash flow approach which included assumptions concerning future operating performance and economic conditions that may differ from actual cash flows. In connection with the matters discussed above, as of December 31, 2013 and 2012, the company had long-lived assets with a remaining net book value of approximately $90 and $150, respectively, accounted for at fair value on a nonrecurring basis after initial recognition. These nonrecurring fair value measurements were determined using level 3 inputs within the fair value hierarchy, as described in Note 1 to the Consolidated Financial Statements.