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Inventories | 12 Months Ended
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Dec. 31, 2024
Inventory, Net [Abstract] |
Inventories | Note 12. Inventories The following table sets forth the components of the Company’s inventories at December 31, 2024 and 2023.
|  | December 31, |
|  | 2024 |  |  | 2023 |
Finished products |  | $ | 889 |  |  | $ | 770 |
Semi-finished products |  |  | 271 |  |  |  | 255 |
Raw materials, stores, and supplies |  |  | 688 |  |  |  | 709 |
Inventories before LIFO adjustment |  |  | 1,848 |  |  |  | 1,734 |
Less: Adjustment of inventories to LIFO basis |  |  | (376 | ) |  |  | (382 | )
Total inventories |  | $ | 1,472 |  |  | $ | 1,352 |
Inventory values, before LIFO adjustment, are generally determined by the average cost method, which approximates current cost. Inventories are valued under the LIFO method at substantially all of the Company’s U.S. locations, which comprised $900 and $920 (or 49% and 53%, respectively) of inventories before the LIFO adjustments at December 31, 2024 and 2023, respectively. The remainder of the Company’s inventory held in international locations and certain U.S. locations is valued under the average cost method.

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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 + Details
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