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INVENTORIES

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

			December 31,
(Dollars in millions)			2022						2021
Finished goods			$	1,347					$	1,007
Work in process			297						273
Raw materials and supplies			743						589
Total inventories at FIFO or average cost			2,387						1,869
Less: LIFO reserve			493						365
Total inventories			$	1,894					$	1,504

Inventories valued on the LIFO method were approximately 50 percent of total inventories at both December 31, 2022 and 2021.

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI https://asc.fasb.org/topic&trid=2126998

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