Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 5 - Inventories

Note 5 - Inventories

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

5. INVENTORIES

Inventories consisted of the following (dollars in millions):

		*December 31,*
		*2022*				*2021*
Raw materials and supplies		$	241			$	248
Work in progress			40				33
Finished goods			758				799
Total			1,039				1,080
LIFO reserves			(44	)			(42	)
Net inventories		$	995			$	1,038

For both December 31, 2022 and 2021, approximately 8% of inventories were recorded using the LIFO cost method.