CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

9 Months Ended

Sep. 30, 2012

CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

CHARGES FOR RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS

Charges for restructuring, closures and asset impairments for the quarters and year-to-date periods ended September 30, 2012 and 2011, include:

	QUARTER ENDED				YEAR-TO-DATE ENDED
DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 2012		SEPTEMBER 2011		SEPTEMBER 2012		SEPTEMBER 2011
Restructuring and closure charges:
Termination benefits	$	—	$	—	$	1	$	1
Pension and postretirement charges	—		2		—		3
Other restructuring and closure costs	3		5		6		11
	3		7		7		15
Asset Impairments:
Long-lived assets	5		30		16		33
Real estate impairments	—		2		1		2
Other assets	2		2		2		2
	7		34		19		37
Charges for restructuring, closures and impairments	$	10	$	41	$	26	$	52

Asset impairments in 2012 are primarily related to unutilized assets held in Unallocated Items that were sold or are currently held for sale.

Asset impairments in third quarter 2011 included $29 million of impairment charges in the Wood Products segment primarily related to the decision to permanently close four engineered lumber facilities that had been previously indefinitely closed. The fair values of the facilities were determined using significant unobservable inputs (Level 3) based on liquidation values.