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INVENTORIES, NET

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

Inventories, net of inventory valuation reserves, were as follows:

						Year Ended December 31,
(in millions)						2020						2019
Finished goods						$	264					$	356
Work-in-process						68						83
Raw materials and supplies						134						123
Inventories, net						$	466					$	562

The Company’s inventory valuation reserve was $117 million and $85 million at December 31, 2020 and 2019, respectively. The increase in the inventory reserve is primarily due to the full year 2020 restructuring plans, see Note 17, Restructuring and Other Costs.

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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 http://asc.fasb.org/topic&trid=2126998

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