Restructuring (Notes)

9 Months Ended

Sep. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring and Cost Reduction Programs

In 2014, in response to an uncertain economic outlook, the Company initiated significant restructuring and cost reduction programs with the intent to optimize its cost structure and bring manufacturing capacity in line with demand. The Company estimates that these activities will continue to occur over the next 6 to 12 months. As of September 30, 2015 the total costs expected to be incurred on restructuring and cost reduction activities are estimated at $17, consisting primarily of workforce reduction costs.

The following table summarizes restructuring and cost reduction information:

	Epoxy, Phenolic and Coating Resins			Corporate and Other			Total
Restructuring costs expected to be incurred	$	11		$	6		$	17
Cumulative restructuring costs incurred through September 30, 2015	$	11		$	6		$	17
Accrued liability at December 31, 2014	$	9		$	3		$	12
Restructuring charges	1			3			4
Payments	(6		)	(4		)	(10		)
Accrued liability at September 30, 2015	$	4		$	2		$	6

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, 2015, charges of $2 and $4, respectively, were recorded in “Business realignment costs” in the unaudited Condensed Consolidated Statements of Operations. At September 30, 2015 and December 31, 2014, the Company had accrued $6 and $12 for restructuring liabilities in “Other current liabilities” in the unaudited Condensed Consolidated Balance Sheets.