Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.8.0.1
INVENTORIES
 12 Months Ended
Dec. 31, 2017
INVENTORIES  
INVENTORIES

4.  INVENTORIES

Inventories consisted of the following (dollars in millions):

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

    

2017

    

2016

Raw materials and supplies

 

$

189

 

$

157

Work in progress

 

 

48

 

 

45

Finished goods

 

 

897

 

 

771

Total 

 

 

1,134

 

 

973

LIFO reserves

 

 

(61)

 

 

(55)

Net inventories

 

$

1,073

 

$

918

 

For December 31, 2017 and 2016, approximately 12% and 13% of inventories were recorded using the LIFO cost method, respectively.