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Inventories | 3 Months Ended
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Mar. 31, 2019
Inventory Disclosure [Abstract] |
Inventories | Inventories Finished goods primarily represents crude oil, which is carried at lower of weighted average cost or market value, and caustic soda and chlorine, which are valued under the last-in, first-out (LIFO) method. Inventories as of March 31, 2019, and December 31, 2018, consisted of the following (in millions):
|  | 2019 |  | 2018 |
Raw materials |  | $ | 71 |  |  | $ | 74 |  |
Materials and supplies |  | 470 |  |  | 445 |  |
Finished goods |  | 990 |  |  | 788 |  |
|  | 1,531 |  |  | 1,307 |  |
Revaluation to LIFO |  | (47 | ) |  | (47 | ) |
Total |  | $ | 1,484 |  |  | $ | 1,260 |  |

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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