Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Tables)

v3.19.2
INVENTORIES (Tables)
6 Months Ended
Jun. 30, 2019
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):

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June 30, 

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December 31, 

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2019

    

2018

Raw materials and supplies

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$

222

​

$

215

Work in progress

​

​

55

​

​

51

Finished goods

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​

868

​

​

927

Total

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1,145

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​

1,193

LIFO reserves

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​

(51)

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​

(59)

Net inventories

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$

1,094

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$

1,134