Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Notes Tables
Notes Details

Note 5 - Inventories

Note 5 - Inventories

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

5. INVENTORIES

We state our inventories at the lower of cost or market, with cost determined using last-in first-out (“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,*
	*2022*			*2021*
Raw materials and supplies	$	332		$	282
Work in progress		66			52
Finished goods		1,029			909
Total		1,427			1,243
LIFO reserves		(45	)		(42	)
Net inventories	$	1,382		$	1,201

As of both March 31, 2022 and December 31, 2021, approximately 7% of inventories were recorded using the LIFO cost method.