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INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

			December 31,
(Dollars in millions)			2023						2022
Finished goods			$	1,193					$	1,347
Work in process			293						297
Raw materials and supplies			618						743
Total inventories at FIFO or average cost			2,104						2,387
Less: LIFO reserve			421						493
Total inventories			$	1,683					$	1,894

Inventories valued on the LIFO method were approximately 50 percent of total inventories at both December 31, 2023 and 2022.

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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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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