Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Tables)

v3.20.1
INVENTORIES (Tables)
3 Months Ended
Mar. 31, 2020
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):

March 31,

December 31,

    

2020

    

2019

Raw materials and supplies

$

182

$

175

Work in progress

44

49

Finished goods

815

718

Total

1,041

942

LIFO reserves

(33)

(28)

Net inventories

$

1,008

$

914