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Inventories
12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventories

G. Inventories

 

December 31,    2016      2015  

Finished goods

   $ 625      $ 672  

Work-in-process

     1,144        1,115  

Purchased raw materials

     408        425  

Operating supplies

     76        72  
     $ 2,253      $ 2,284  

At December 31, 2016 and 2015, the total amount of inventories valued on a LIFO basis was $947 and $1,009, respectively. If valued on an average-cost basis, total inventories would have been $371 and $387 higher at December 31, 2016 and 2015, respectively. During 2016 and 2015, reductions in LIFO inventory quantities caused partial liquidations of the lower cost LIFO inventory base. These liquidations resulted in the recognition of immaterial income amounts in both 2016 and 2015, respectively.