Annual report pursuant to Section 13 and 15(d)

Note 5 - Inventories

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Note 5 - Inventories
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Inventory Disclosure [Text Block]

5. INVENTORIES

 

Inventories consisted of the following (dollars in millions):

 

   

December 31,

 
   

2024

   

2023

 

Raw materials and supplies

  $ 193     $ 191  

Work in progress

    39       39  

Finished goods

    727       673  

Total

    959       903  

LIFO reserves

    (42 )     (36 )

Net inventories

  $ 917     $ 867  

 

As of  December 31, 2024 and 2023, approximately 9% and 8%, respectively, of inventories were recorded using the LIFO cost method.