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INVENTORIES

3 Months Ended

Mar. 31, 2017

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

	March 31,				December 31,
(Dollars in millions)	2017				2016
Finished goods	$	1,058			$	997
Work in process	213				198
Raw materials and supplies	488				473
Total inventories at FIFO or average cost	1,759				1,668
Less: LIFO reserve	264				264
Total inventories	$	1,495			$	1,404

Inventories valued on the last-in, first-out ("LIFO") method were approximately 60 percent of total inventories at both March 31, 2017 and December 31, 2016.

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- References

No definition available.

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

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