Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Tables)

v3.19.3
INVENTORIES (Tables)
9 Months Ended
Sep. 30, 2019
INVENTORIES  
Schedule of inventory

Inventories are stated at the lower of cost or market, with cost determined using LIFO, first-in first-out and average cost methods for different components of inventory. Inventories consisted of the following (dollars in millions):

September 30, 

December 31, 

    

2019

    

2018

Raw materials and supplies

$

191

$

191

Work in progress

58

51

Finished goods

745

798

Total

994

1,040

LIFO reserves

(33)

(40)

Net inventories

$

961

$

1,000