CHARGES FOR INTEGRATION AND RESTRUCTURING, CLOSURES AND ASSET IMPAIRMENTS



	QUARTER ENDED
DOLLAR AMOUNTS IN MILLIONS	MARCH 2016		MARCH 2015
Integration and restructuring charges related to our merger with Plum Creek:
Termination benefits	$	45	$	—
Acceleration of share-based compensation related to qualifying terminations (Note 14)	19		—
Acceleration of pension benefits related to qualifying terminations (Note 7)	5		—
Professional services	39		—
Other integration and restructuring costs	2		—
Total integration and restructuring charges related to our merger with Plum Creek	110		—
Charges related to closures and other restructuring activities	7		1
Impairments of long-lived assets	—		13
Total charges for integration and restructuring, closures and impairments	$	117	$	14

During 2016, we incurred and accrued for termination benefits (primarily severance), accelerated share-based payment costs, and accelerated pension benefits based upon actual and expected qualifying terminations of certain employees as a result of restructuring decisions made subsequent to the merger. We also incurred non-recurring professional services costs for investment banking, legal and consulting, and certain other fees directly attributable to our merger with Plum Creek.

During the first quarter 2015, we recognized a noncash impairment charge of $13 million related to a nonstrategic asset held in Unallocated Items. The fair value of the asset was determined using significant unobservable inputs (level 3) based on discounted cash flow model.

Changes in accrued severance related to restructuring during the quarter ended March 31, 2016 were as follows:



DOLLAR AMOUNTS IN MILLIONS
Accrued severance as of December 31, 2015	$	5
Charges	45
Payments	(17		)
Accrued severance as of March 31, 2016	$	33

Accrued severance is recorded within the "Wages, salaries and severance pay" component of "Accrued liabilities" on our Consolidated Balance Sheet as detailed in Note 9: Accrued Liabilities. The majority of the accrued severance balance as of March 31, 2016, is expected to be paid within one year.