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Inventories (Tables)
9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Components of Inventories

Inventories are stated at the lower of cost (“FIFO”) and net realizable value. The components of inventories were as follows (dollars in millions):

 

 

 

As of

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Raw materials

 

$

481

 

 

$

418

 

Work in progress

 

 

314

 

 

 

295

 

Finished products

 

 

326

 

 

 

290

 

Inventories

 

 

1,122

 

 

 

1,003

 

Inventory valuation reserve

 

 

(85

)

 

 

(82

)

Total inventories, net of reserve

 

$

1,036

 

 

$

921