Annual report pursuant to Section 13 and 15(d)

INVENTORIES (Details)

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INVENTORIES (Details) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Inventories    
Raw materials and supplies $ 291 $ 389
Work in progress 91 125
Finished goods 1,017 1,221
Total 1,399 1,735
LIFO reserves (55) (43)
Net inventories [1] $ 1,344 $ 1,692
Percentage of inventories recorded using the LIFO cost method 9.00% 9.00%
[1] At December 31, 2016 and December 31, 2015, respectively, $25 and $34 of cash and cash equivalents, $10 and $12 of restricted cash, $27 and $26 of accounts and notes receivable (net), $46 and $54 of inventories, $5 each of other current assets, $284 and $307 of property, plant and equipment (net), $31 and $36 of intangible assets (net), $37 and $38 of other noncurrent assets, $90 and $82 of accounts payable, $34 and $27 of accrued liabilities, $14 and $15 of current portion of debt, $114 and $137 of longterm debt, and $76 and $54 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 8. Variable Interest Entities.”