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Inventories, net | 12 Months Ended
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Dec. 31, 2022
Inventory Disclosure [Abstract] |
Inventories, net | Inventories, net Inventories, net consisted of the following:
| December 31,
| 2022 |  | 2021
Raw materials | $ | 261 |  |  | $ | 265 |
Work-in-process | 125 |  |  | 117 |
Finished goods, net | 641 |  |  | 461 |
Materials and supplies, net | 251 |  |  | 205 |
Inventories, net | $ | 1,278 |  |  | $ | 1,048 |
Materials and supplies, net consists of processing chemicals, maintenance supplies, and spare parts, which will be consumed directly and indirectly in the production of our products. At December 31, 2022 and 2021, inventory obsolescence reserves were $42 million and $43 million, respectively. At December 31, 2022 and December 31, 2021, reserves for lower of cost and net realizable value were $27 million and $11 million, respectively.

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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 + Details
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