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Long-Lived Asset Impairment Charges
12 Months Ended
Dec. 31, 2017
Restructuring and Related Activities [Abstract]  
Long-Lived Asset Impairment Charges
Long-Lived Asset Impairment Charges
In 2016, we indefinitely idled our mining operations in Little Narrows, Nova Scotia, Canada after completing a review of our gypsum sourcing needs. At such time, we assessed the property, plant and equipment for potential impairment. We compared the carrying values of those assets with their future undiscounted cash flows for their remaining useful lives. We measured the fair value of the machinery, equipment and buildings using measurements classified as Level 3, as a result we recorded long-lived asset impairment charges of $10 million, which are included in our consolidated statements of income in "Long-lived asset impairment charges". We also recorded severance and other charges of $2 million for the termination of employees at the Little Narrows location, which are included in "Costs of products sold" on our consolidated statements of income. Both the impairment and severance charges are included in Other.
Gypsum Transportation Limited
In the second quarter of 2015, we sold our two self-unloading ocean vessels previously owned by Gypsum Transportation Limited, or GTL, for $42 million and recorded a gain of $7 million on the disposition and incurred charges of $6 million to exit our shipping operations. The net impact of the gain on the sale of the vessels and charges incurred to exit the shipping operations of $1 million is recorded in “Gain on disposal of shipping operations, net” on the consolidated statement of income.
In November 2015, we entered into a release and debt settlement agreement to recover a portion of our loss incurred when our former trading partner ceased performing under the contract. We recorded a recovery of $6 million in 2015 and it is presented within the "Recovery of receivable" on our consolidated statements of income. We received an additional $8 million for the recovery in 2016, of which $3 million is recorded within "Recovery of receivable," $1 million is recorded within "Interest income" and $4 million is recorded within "Other (expense) income, net" on our consolidated statements of income.
GTL recorded operating profit of $0 million, $3 million and $7 million in 2017, 2016 and 2015, respectively, which is reflected within Other.