XML 32 R9.htm IDEA: XBRL DOCUMENT v3.2.0.727
Employee Separation / Asset Related Charges, Net
 6 Months Ended
Jun. 30, 2015
Restructuring Charges [Abstract]  
Employee Separation / Asset Related Charges, Net
Employee Separation / Asset Related Charges, Net
Chemours Restructuring Program
During the three months ended June 30, 2015, a restructuring charge of $61 was recorded in employee separation / asset related charges, net, consisting of severance and related benefit costs in the Performance Chemicals segment to achieve fixed cost and operational productivity improvements for Chemours post-spin.

Account balances and activity for the Chemours restructuring program are summarized below:
 
Employee Separation Costs
Charges to income for the three and six months ended June 30, 2015
$
61

Payments
(8
)
Balance as of June 30, 2015
$
53



2014 Restructuring Program
At June 30, 2015, total liabilities related to the 2014 restructuring program were $183. A complete discussion of restructuring initiatives is included in the company's 2014 Annual Report in Note 3, "Employee Separation / Asset Related Charges, Net."

Account balances and activity related to the 2014 restructuring program are summarized below:
 
Employee Separation Costs
Other Non-Personnel Charges 1
Total
Balance at December 31, 2014
$
264

$
4

$
268

Payments
(77
)
(1
)
(78
)
Net translation adjustment
(7
)
—

(7
)
  Other adjustments
—

—

—

Balance as of June 30, 2015
$
180

$
3

$
183



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

During the three months ended June 30, 2015, the company recorded adjustments to the estimated costs associated with the 2014 restructuring program in employee separation / asset related charges, net in the company's interim Consolidated Income Statements. This was primarily due to lower than estimated individual severance costs and workforce reductions achieved through non-severance programs, partially offset by identification of additional projects in certain segments. There was no impact from these adjustments to the company's interim Consolidated Income Statements. The adjustments impacted segment results for the three months ended June 30, 2015 as follows: Agriculture - $(4), Electronics & Communications - $11, Industrial Biosciences - $(1), Nutrition & Health - $(4), Performance Chemicals - $2 , Performance Materials - $(2), and Safety & Protection $1, and Other - $(3).

During the three months ended June 30, 2014, a pre-tax charge of $263 was recorded in employee separation / asset related charges, net in the company's interim Consolidated Income Statements. The charge consisted of $166 employee separation costs, $3 of other non-personnel charges and $94 of asset shut down costs. The charge impacted segment results for the second quarter 2014 as follows: Agriculture - $47, Electronics & Communications - $68, Industrial Biosciences - $2, Nutrition & Health - $8, Performance Chemicals - $19, Performance Materials - $29, and Safety & Protection - $31, Other - $2, as well as Corporate expenses - $57.

Cost Basis Investment Impairment
During the first quarter 2015, a $38 pre-tax impairment charge was recorded in employee separation / asset related charges, net within the Other segment. The majority relates to a cost basis investment in which the assessment resulted from the venture's revised operating plan reflecting underperformance of its European wheat based ethanol facility and deteriorating European ethanol market conditions. One of the primary investors communicated that they would not fund the revised operating plan of the investee. As a result, the carrying value of DuPont's 6 percent cost basis investment in this venture exceeds its fair value by $37, such that an impairment charge was recorded.