DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2017

DISCONTINUED OPERATIONS

Summarizes the financial data for discontinued operations

The following table summarizes the balance sheet data for discontinued operations:

	December 31,
(Dollars in millions)	2016
ASSETS
Current assets:
Cash and cash equivalents	$	1
Accounts receivable (net of allowance for doubtful accounts of $1)		10
Accounts receivable from affiliates		61
Inventories		9
Prepaid expenses		1
Other current assets		2
Total current assets of discontinued operations		84
Property, plant and equipment, net		19
Intangible assets, net		2
Deferred income taxes		21
Noncurrent assets of discontinued operations		42
Total assets of discontinued operations	$	126
LIABILITIES
Current liabilities:
Accounts payable	$	7
Accounts payable to affiliates		2
Accrued liabilities		18
Total current liabilities of discontinued operations		27
Deferred income taxes		1
Other noncurrent liabilities		77
Noncurrent liabilities of discontinued operations		78
Total liabilities of discontinued operations	$	105

The following table summarizes the operations data for discontinued operations:

	Three months ended				Nine months ended
	September 30,				September 30,
(Dollars in millions)	2017		2016		2017		2016
Revenues:
Trade sales, services and fees, net	$	—	$	28	$	15	$	83
Related party sales		—		15		17		51
Total revenues		—		43		32		134
Cost of goods sold		—		36		26		110
Operating expenses:
Selling, general and administrative (includes corporate allocations of nil,  $2,  $1 and $5, respectively)		—		6		(7)		16
Restructuring, impairment and plant closing costs		—		—		1		—
Other (income) expense, net		—		(1)		1		(2)
Total expenses (income)		—		5		(5)		14
Income from discontinued operations before tax		—		2		11		10
Income tax expense		—		—		(3)		(2)
Net income from discontinued operations	$	—	$	2	$	8	$	8