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INVENTORIES, NET (Tables) | 12 Months Ended
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Dec. 31, 2024
Inventory Disclosure [Abstract] |
Schedule of Inventory | A summary of Inventories, net is presented below:
| December 31,
(in millions) | 2024 |  | 2023
Raw material and supplies | $ | 915 |  |  | $ | 991 |
Work-in-progress | 147 |  |  | 160 |
Finished goods | 189 |  |  | 194 |
FIFO inventories | 1,251 |  |  | 1,345 |
LIFO reserve 1 | — |  |  | (32) |
Inventories, net | $ | 1,251 |  |  | $ | 1,313 |
_____________________________ 1 During the fourth quarter of 2024, the Company changed the accounting method for certain inventories previously accounted for under LIFO to FIFO. As of December 31, 2024, no inventories are accounted for under the LIFO method. Refer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for more details.

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