Restructuring

9 Months Ended

Sep. 30, 2012

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring

In 2012, in response to softening demand in certain of its businesses in the second half of 2011, the Company initiated significant restructuring programs with the intent to optimize its cost structure and bring manufacturing capacity in line with demand. At September 30, 2012, the Company had $16 of in-process cost reduction programs savings expected to be achieved over the remaining life of the projects. The Company estimates that these restructuring cost activities will occur over the next 12 to 15 months. As of September 30, 2012, the total costs expected to be incurred on restructuring activities are estimated at $33, consisting mainly of workforce reduction and site closure-related costs.

The following table summarizes restructuring information by type of cost:

	Workforce Reductions			Site Closure Costs			Other Projects		Total
Restructuring costs expected to be incurred	$	25		$	7		$	1	$	33
Cumulative restructuring costs incurred through September 30, 2012	$	19		$	7		$	—	$	26
Accrued liability at December 31, 2011	$	6		$	—		$	—	$	6
Restructuring charges	13			7			—		20
Payments	(5		)	(7		)	—		(12		)
Accrued liability at September 30, 2012	$	14		$	—		$	—	$	14

Workforce reduction costs primarily relate to non-voluntary employee termination benefits and are accounted for under the guidance for nonretirement postemployment benefits or as exit and disposal costs, as applicable. During the three and nine months ended September 30, 2012 charges of $7 and $20, respectively, were recorded in “Business realignment costs” in the unaudited Condensed Consolidated Statements of Operations. At September 30, 2012 and December 31, 2011, the Company had accrued $14 and $6, respectively, for restructuring liabilities in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets.

The following table summarizes restructuring information by reporting segment:

	Epoxy, Phenolic and Coating Resins			Forest Products Resins			Corporate and Other			Total
Restructuring costs expected to be incurred	$	12		$	19		$	2		$	33
Cumulative restructuring costs incurred through September 30, 2012	$	7		$	18		$	1		$	26
Accrued liability at December 31, 2011	$	1		$	2		$	3		$	6
Restructuring charges (releases)	6			16			(2		)	20
Payments	(3		)	(9		)	—			(12		)
Accrued liability at September 30, 2012	$	4		$	9		$	1		$	14