Venezuela	12 Months Ended
Dec. 31, 2016
Foreign Currency [Abstract]
Venezuela	VENEZUELA Currency Devaluation As a result of challenging economic conditions and changes to Venezuela’s foreign currency exchange mechanisms our Venezuela operations have continued to be impacted. Based on our participation in Venezuela’s Complementary System of Foreign Currency Administration (SICAD I) auction process during the year ended December 31, 2014, we changed the exchange rate we used to remeasure our Venezuelan subsidiary’s bolivar denominated monetary assets and liabilities into U.S. dollars to an exchange rate of 12.0 Venezuelan bolivars to 1.0 U.S. dollar at December 31, 2014 from the Official Rate of 6.3 Venezuelan bolivars to 1.0 U.S. dollar. From December 31, 2014 through June 30, 2015, we used the SICAD rate of 12.0 Venezuelan bolivars to 1.0 U.S. dollar. At June 30, 2015, we changed the exchange rate we used to remeasure our Venezuelan bolivars from the SICAD rate to the Marginal Foreign Exchange System (SIMADI) rate of 197.7 Venezuelan bolivars to 1.0 U.S. dollar. We believed it was appropriate to move from using the SICAD rate to using the SIMADI rate based on the culmination of relevant facts and circumstances, including our expectation that future dividend remittances would be made at the SIMADI rate. In March 2016, the Venezuelan government enacted additional changes to its foreign currency exchange regime. The changes resulted in a reduction of its three-tiered exchange rate system to two tiers by eliminating the SICAD rate. The changes also devalued the official rate, DIPRO (formerly CENCOEX), to 10.0 Venezuelan bolivars to 1.0 U.S. dollar from 6.3 Venezuelan bolivars to 1.0 U.S. dollar, while also creating a replacement floating supplementary market exchange rate, DICOM, which fully replaced SIMADI. DICOM is intended to provide limited access to a free market rate of exchange and the rate utilized to remeasure the monetary assets and liabilities of our operations as our subsidiary is a U.S. dollar functional entity. At December 31, 2016, DICOM was 673.8 Venezuelan bolivars to 1.0 U.S. dollar. We believe that significant uncertainty still exists regarding the exchange mechanisms in Venezuela, including how any such mechanisms will operate in the future and the availability of U.S. dollars under each mechanism. The devaluations of the exchange rates for the year ended December 31, 2014 resulted in net gains of $17.0 million primarily due to our determination at December 31, 2014 to change from the CENCOEX rate to SICAD I and our Venezuelan operations being in a net monetary liability position. Primarily as a result of the devalued Venezuelan bolivar, we recorded currency exchange losses of $23.5 million and $51.5 million for the years ended December 31, 2016 and 2015, respectively. Included in the loss for the year ended December 31, 2015 was a loss of $53.2 million resulting from the devaluation caused by the change in exchange mechanism used at June 30, 2015. Venezuela Financial Results and Impairment Considerations As a result of the continued economic uncertainty, negative volume trends including fourth quarter 2016 performance, further deterioration in the economy as evidenced by the dramatic devaluation in the unofficial parallel exchange markets and the completion of our 2017 budget process which highlighted a material decline in our profitability, we concluded there was a formal triggering event to assess the carrying value of our long-lived assets during the fourth quarter of 2016. Based on the internal projections developed by management, the Company determined that the undiscounted future cash flows expected to result from the use of our productive long-lived assets were not sufficient to recover the carrying value. A third-party valuation of our Venezuelan operations was performed as of December 1, 2016 to assist management in determining the fair value utilizing standard valuation approaches, which incorporated Level 3 inputs. Based on the results of the valuations, the Company recorded an impairment charge of $57.9 million in the fourth quarter of 2016, comprised of a $49.3 million write-down to customer relationship intangibles and an $8.6 million write-down to the net book value of our property, plant and equipment. The impairment charge was recorded within income from operations on the consolidated statement of operations, with $30.6 million and $27.3 million allocated to our Performance Coatings and Transportation Coatings operating segments, respectively. With the exception of intercompany inventory purchases, our operations in Venezuela were and are expected to continue to be self-funded. Our Venezuelan operations continue to have the ability to procure raw materials through Axalta subsidiaries, and generate positive cash flow sufficient to fund its operations even with our lower projected results for Venezuela. As a result, we currently do not foresee any material impact on our Venezuelan subsidiary's ability to continue to operate. We have no current need or intention to repatriate Venezuelan earnings and remain committed to the business for the foreseeable future based on our current expectations. If assumptions regarding our continued demand and ability to successfully implement and sustain price increases differ from actual results, or our ability to control the operations of our Venezuelan subsidiary change as a result of economic uncertainty or political instability, there is a risk that our productive long-lived assets may be further impaired. Additionally, if DICOM continues to weaken, this could result in a material unfavorable impact on our results of operations and financial condition. At June 30, 2016, we performed a separate evaluation of the carrying value of our non-operating real estate investment. Based on this evaluation, we concluded that the carrying value of the real estate investment of $21.5 million was impaired as a result of the current real estate market prices and movement of our translation rate from 270.5 Venezuelan bolivars to 1.0 U.S. dollar at March 31, 2016 to 626.0 Venezuelan bolivars to 1.0 U.S. dollar at June 30, 2016. At December 31, 2016, we re-assessed the carrying value of our non-operating real estate investment. Based on the third-party valuation performed, we concluded that the carrying value of the real estate investment of $10.9 million was not impaired. Impairments of $10.5 million and $30.6 million were recorded within other expense, net for the years ended December 31, 2016 and 2015, respectively. The method used to determine fair values of the real estate investment included using Level 2 inputs in the form of observable market quotes from local real estate broker service firms. At December 31, 2016 and 2015, our Venezuelan subsidiary had total assets of $82.7 million and $152.9 million, respectively, and total liabilities of $42.3 million and $42.2 million, respectively. Total liabilities include $32.8 million and $25.9 million of intercompany trade liabilities designated in U.S. dollars as of December 31, 2016 and 2015, respectively. At December 31, 2016 and 2015, total non-monetary assets, net, were $34.8 million and $112.4 million, respectively. For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary's net sales represented $50.8 million, $131.2 million and $136.5 million of our consolidated net sales, respectively. For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary represented a loss of $36.5 million, income of $63.0 million and $60.0 million of our consolidated income from operations, respectively. For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary represented net losses of $68.5 million and $32.0 million and net income of $52.6 million of our consolidated net income, respectively.

VENEZUELA

Currency Devaluation

As a result of challenging economic conditions and changes to Venezuela’s foreign currency exchange mechanisms our Venezuela operations have continued to be impacted.

Based on our participation in Venezuela’s Complementary System of Foreign Currency Administration (SICAD I) auction process during the year ended December 31, 2014, we changed the exchange rate we used to remeasure our Venezuelan subsidiary’s bolivar denominated monetary assets and liabilities into U.S. dollars to an exchange rate of 12.0 Venezuelan bolivars to 1.0 U.S. dollar at December 31, 2014 from the Official Rate of 6.3 Venezuelan bolivars to 1.0 U.S. dollar.

From December 31, 2014 through June 30, 2015, we used the SICAD rate of 12.0 Venezuelan bolivars to 1.0 U.S. dollar. At June 30, 2015, we changed the exchange rate we used to remeasure our Venezuelan bolivars from the SICAD rate to the Marginal Foreign Exchange System (SIMADI) rate of 197.7 Venezuelan bolivars to 1.0 U.S. dollar. We believed it was appropriate to move from using the SICAD rate to using the SIMADI rate based on the culmination of relevant facts and circumstances, including our expectation that future dividend remittances would be made at the SIMADI rate.

In March 2016, the Venezuelan government enacted additional changes to its foreign currency exchange regime. The changes resulted in a reduction of its three-tiered exchange rate system to two tiers by eliminating the SICAD rate. The changes also devalued the official rate, DIPRO (formerly CENCOEX), to 10.0 Venezuelan bolivars to 1.0 U.S. dollar from 6.3 Venezuelan bolivars to 1.0 U.S. dollar, while also creating a replacement floating supplementary market exchange rate, DICOM, which fully replaced SIMADI. DICOM is intended to provide limited access to a free market rate of exchange and the rate utilized to remeasure the monetary assets and liabilities of our operations as our subsidiary is a U.S. dollar functional entity. At December 31, 2016, DICOM was 673.8 Venezuelan bolivars to 1.0 U.S. dollar.

We believe that significant uncertainty still exists regarding the exchange mechanisms in Venezuela, including how any such mechanisms will operate in the future and the availability of U.S. dollars under each mechanism.

The devaluations of the exchange rates for the year ended December 31, 2014 resulted in net gains of $17.0 million primarily due to our determination at December 31, 2014 to change from the CENCOEX rate to SICAD I and our Venezuelan operations being in a net monetary liability position.

Primarily as a result of the devalued Venezuelan bolivar, we recorded currency exchange losses of $23.5 million and $51.5 million for the years ended December 31, 2016 and 2015, respectively. Included in the loss for the year ended December 31, 2015 was a loss of $53.2 million resulting from the devaluation caused by the change in exchange mechanism used at June 30, 2015.

Venezuela Financial Results and Impairment Considerations

As a result of the continued economic uncertainty, negative volume trends including fourth quarter 2016 performance, further deterioration in the economy as evidenced by the dramatic devaluation in the unofficial parallel exchange markets and the completion of our 2017 budget process which highlighted a material decline in our profitability, we concluded there was a formal triggering event to assess the carrying value of our long-lived assets during the fourth quarter of 2016. Based on the internal projections developed by management, the Company determined that the undiscounted future cash flows expected to result from the use of our productive long-lived assets were not sufficient to recover the carrying value. A third-party valuation of our Venezuelan operations was performed as of December 1, 2016 to assist management in determining the fair value utilizing standard valuation approaches, which incorporated Level 3 inputs. Based on the results of the valuations, the Company recorded an impairment charge of $57.9 million in the fourth quarter of 2016, comprised of a $49.3 million write-down to customer relationship intangibles and an $8.6 million write-down to the net book value of our property, plant and equipment. The impairment charge was recorded within income from operations on the consolidated statement of operations, with $30.6 million and $27.3 million allocated to our Performance Coatings and Transportation Coatings operating segments, respectively.

With the exception of intercompany inventory purchases, our operations in Venezuela were and are expected to continue to be self-funded. Our Venezuelan operations continue to have the ability to procure raw materials through Axalta subsidiaries, and generate positive cash flow sufficient to fund its operations even with our lower projected results for Venezuela. As a result, we currently do not foresee any material impact on our Venezuelan subsidiary's ability to continue to operate. We have no current need or intention to repatriate Venezuelan earnings and remain committed to the business for the foreseeable future based on our current expectations.

If assumptions regarding our continued demand and ability to successfully implement and sustain price increases differ from actual results, or our ability to control the operations of our Venezuelan subsidiary change as a result of economic uncertainty or political instability, there is a risk that our productive long-lived assets may be further impaired. Additionally, if DICOM continues to weaken, this could result in a material unfavorable impact on our results of operations and financial condition.

At June 30, 2016, we performed a separate evaluation of the carrying value of our non-operating real estate investment. Based on this evaluation, we concluded that the carrying value of the real estate investment of $21.5 million was impaired as a result of the current real estate market prices and movement of our translation rate from 270.5 Venezuelan bolivars to 1.0 U.S. dollar at March 31, 2016 to 626.0 Venezuelan bolivars to 1.0 U.S. dollar at June 30, 2016. At December 31, 2016, we re-assessed the carrying value of our non-operating real estate investment. Based on the third-party valuation performed, we concluded that the carrying value of the real estate investment of $10.9 million was not impaired.

Impairments of $10.5 million and $30.6 million were recorded within other expense, net for the years ended December 31, 2016 and 2015, respectively. The method used to determine fair values of the real estate investment included using Level 2 inputs in the form of observable market quotes from local real estate broker service firms.

At December 31, 2016 and 2015, our Venezuelan subsidiary had total assets of $82.7 million and $152.9 million, respectively, and total liabilities of $42.3 million and $42.2 million, respectively. Total liabilities include $32.8 million and $25.9 million of intercompany trade liabilities designated in U.S. dollars as of December 31, 2016 and 2015, respectively. At December 31, 2016 and 2015, total non-monetary assets, net, were $34.8 million and $112.4 million, respectively.

For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary's net sales represented $50.8 million, $131.2 million and $136.5 million of our consolidated net sales, respectively. For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary represented a loss of $36.5 million, income of $63.0 million and $60.0 million of our consolidated income from operations, respectively. For the years ended December 31, 2016, 2015 and 2014, our Venezuelan subsidiary represented net losses of $68.5 million and $32.0 million and net income of $52.6 million of our consolidated net income, respectively.