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Inventories, net

12 Months Ended

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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- 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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