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INVENTORIES
9 Months Ended
Sep. 30, 2015
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES
 
September 30,
 
December 31,
(Dollars in millions)
2015
 
2014
At FIFO or average cost (approximates current cost)
 
 
 
Finished goods
$
1,116

 
$
1,130

Work in process
214

 
288

Raw materials and supplies
510

 
553

Total inventories
1,840

 
1,971

LIFO Reserve
(356
)
 
(462
)
Total inventories
$
1,484

 
$
1,509



Inventories valued on the last-in, first-out ("LIFO") method were approximately 55 percent at both September 30, 2015 and December 31, 2014.