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INVENTORIES

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

	June 30,				December 31,
(Dollars in millions)	2018				2017
Finished goods	$	1,044			$	1,114
Work in process	241				213
Raw materials and supplies	549				470
Total inventories at FIFO or average cost	1,834				1,797
Less: LIFO reserve	302				288
Total inventories	$	1,532			$	1,509

Inventories valued on the last-in, first-out ("LIFO") method were approximately 55 percent and 60 percent of total inventories at June 30, 2018 and December 31, 2017, respectively.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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