Restructuring Accruals

9 Months Ended

Sep. 30, 2013

Restructuring Accruals

Restructuring Accruals

4.  Restructuring Accruals

Selected information related to the restructuring accruals for the three months ended September 30, 2013 and 2012 is as follows:

	European Asset Optimization			Asia Pacific Restructuring			Other Restructuring Actions			Total Restructuring
Balance at July 1, 2013	$	31		$	3		$	49		$	83
Net cash paid, principally severance and related benefits	(5		)				(2		)	(7		)
Other, including foreign exchange translation	1			(1		)	(4		)	(4		)
Balance at September 30, 2013	$	27		$	2		$	43		$	72

	European Asset Optimization			Asia Pacific Restructuring			Other Restructuring Actions			Total Restructuring
Balance at July 1, 2012	$	2		$	3		$	51		$	56
Charges	9			27			(3		)	33
Write-down of assets to net realizable value	(2		)	(14		)				(16		)
Net cash paid, principally severance and related benefits							(7		)	(7		)
Other, including foreign exchange translation							4			4
Balance at September 30, 2012	$	9		$	16		$	45		$	70

Selected information related to the restructuring accruals for the nine months ended September 30, 2013 and 2012 is as follows:

	European Asset Optimization			Asia Pacific Restructuring			Other Restructuring Actions			Total Restructuring
Balance at January 1, 2013	$	53		$	6		$	64		$	123
Charges	7			2			1			10
Write-down of assets to net realizable value	(2		)							(2		)
Net cash paid, principally severance and related benefits	(32		)	(5		)	(17		)	(54		)
Other, including foreign exchange translation	1			(1		)	(5		)	(5		)
Balance at September 30, 2013	$	27		$	2		$	43		$	72

	European Asset Optimization			Asia Pacific Restructuring			Other Restructuring Actions			Total Restructuring
Balance at January 1, 2012	$	12		$	17		$	74		$	103
Charges	10			26			(3		)	33
Write-down of assets to net realizable value	(2		)	(14		)	(2		)	(18		)
Net cash paid, principally severance and related benefits	(12		)	(13		)	(22		)	(47		)
Other, including foreign exchange translation	1						(2		)	(1		)
Balance at September 30, 2012	$	9		$	16		$	45		$	70

The Company’s decisions to curtail selected production capacity have resulted in write downs of certain long-lived assets to the extent their carrying amounts exceeded fair value or fair value less cost to sell.  The Company classified the significant assumptions used to determine the fair value of the impaired assets as Level 3 in the fair value hierarchy as set forth in the general accounting principles for fair value measurements.

European Asset Optimization

During the nine months ended September 30, 2013, the Company recorded charges of $7 million related to the European Asset Optimization program. These charges represented additional employee costs that the Company was required to record for the furnace closures announced during the fourth quarter of 2012.

During the three months ended September 30, 2012, the Company recorded charges of $9 million for employee costs and asset impairments related to the closure of a furnace in Europe.

Asia Pacific Restructuring

During the three months ended September 30, 2012, the Company recorded charges of $27 million for employee costs and asset impairments related to the closure of a furnace in Asia Pacific.