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ASSETS IMPAIRMENTS AND RESTRUCTURING
 3 Months Ended
Mar. 31, 2024
Restructuring Costs and Asset Impairment Charges [Abstract]  
ASSET IMPAIRMENTS AND RESTRUCTURING ASSET IMPAIRMENTS AND RESTRUCTURING CHARGES, NET
(Dollars in millions)First Quarter
20242023
Severance charges (1)
$11 $16 
Site closure and other restructuring charges (2)
— 6 
Total$11 $22 

(1)Severance charges as part of fourth quarter 2022 and 2023 cost reduction initiatives reported in "Other".
(2)First quarter 2023 site closure costs related to the closure of an acetate yarn manufacturing facility in Europe in the Fibers segment. In addition, accelerated depreciation of $23 million was recognized in "Cost of sales" in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings in first quarter 2023 related to the closure of this facility.

Changes in Reserves

The following table summarizes the changes in asset impairments and restructuring reserves in first three months 2024 and full year 2023:

(Dollars in millions)Balance at January 1, 2024Provision/ AdjustmentsNon-cash Reductions/
Additions		Cash ReductionsBalance at March 31, 2024
Severance costs$26 $11 $— $(10)$27 
Total$26 $11 $— $(10)$27 

(Dollars in millions)		Balance at January 1, 2023Provision/ AdjustmentsNon-cash Reductions/
Additions		Cash ReductionsBalance at December 31, 2023
Severance costs$34 $31 $— $(39)$26 
Other restructuring costs1 6 — (7)— 
Total$35 $37 $— $(46)$26 

Substantially all severance costs remaining as of March 31, 2024 are expected to be paid within one year.