Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Tables)

v3.20.2
INVENTORIES (Tables)
6 Months Ended
Jun. 30, 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):

June 30, 

December 31,

    

2020

    

2019

Raw materials and supplies

$

186

$

175

Work in progress

46

49

Finished goods

678

718

Total

910

942

LIFO reserves

(25)

(28)

Net inventories

$

885

$

914