Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Details)

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INVENTORIES (Details) - USD ($)
$ in Millions
Jun. 30, 2016
Dec. 31, 2015
Inventories    
Raw materials and supplies $ 353 $ 389
Work in progress 110 125
Finished goods 1,101 1,221
Total 1,564 1,735
LIFO reserves (42) (43)
Net inventories [1] $ 1,522 $ 1,692
Percentage of inventories recorded using the LIFO cost method 9.00% 9.00%
[1] At June 30, 2016 and December 31, 2015, respectively, $25 and $34 of cash and cash equivalents, $10 and $12 of restricted cash, $29 and $26 of accounts and notes receivable (net), $39 and $54 of inventories, $5 each of other current assets, $295 and $307 of property, plant and equipment (net), $34 and $36 of intangible assets (net), $43 and $38 of other noncurrent assets, $76 and $82 of accounts payable, $33 and $27 of accrued liabilities, $19 and $15 of current portion of debt, $123 and $137 of longterm debt, and $55 and $54 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 4. Variable Interest Entities.”