v3.26.1
ASSETS IMPAIRMENTS AND RESTRUCTURING (Tables)
3 Months Ended
Mar. 31, 2026
Restructuring Costs and Asset Impairment Charges [Abstract]  
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
The following table summarizes the changes in asset impairments and restructuring reserves in first three months 2026 and full year 2025:

(Dollars in millions)Balance at January 1, 2026Provision/ AdjustmentsNon-cash Reductions/
Additions
Cash ReductionsBalance at March 31, 2026
Severance costs$26 $$— $(8)$24 
Restructuring and other charges— (5)
Total$34 $$— $(13)$30 

(Dollars in millions)
Balance at January 1, 2025Provision/ AdjustmentsNon-cash Reductions/
Additions
Cash ReductionsBalance at December 31, 2025
Asset Impairments$— $33 $(33)$— $— 
Severance costs23 39 — (36)26 
Restructuring and other charges24 (6)(13)
Total$26 $96 $(39)$(49)$34 
Restructuring and Related Costs [Table Text Block]
(Dollars in millions)First Quarter
20262025
Severance charges (1)(2)(3)
$$
Restructuring and other charges (1)(3)(4)
Total$$

(1)First quarter 2026 included severance charges of $3 million and restructuring charges of $3 million related to the closure of a production line at a German performance films facility in the Advanced Materials ("AM") segment. In addition, inventory adjustments of $3 million in the AM segment were recognized in "Cost of sales" in the Unaudited Consolidated Statement of Earnings, Comprehensive Income, and Retained Earnings in first quarter 2026 related to this closure.
(2)First quarter 2026 included severance charges of $3 million related to corporate cost reduction initiatives reported in "Other".
(3)First quarter 2025 included severance charges of $1 million and restructuring charges of $3 million related to the closure of a heat-transfer fluids production line at a North America specialty fluids and energy facility in the Additives & Functional Products segment.
(4)First quarter 2025 included charges of $5 million related to profitability improvement initiatives which are reported in "Other".