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Inventories, Net
3 Months Ended
Mar. 31, 2023
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
Inventories, net consisted of the following:
March 31, 2023December 31, 2022
Raw materials$284 $261 
Work-in-process144 125 
Finished goods, net691 641 
Materials and supplies, net240 251 
Inventories, net – current$1,359 $1,278 
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 March 31, 2023 and December 31, 2022, inventory obsolescence reserves primarily for materials and supplies were $43 million and $42 million, respectively. Reserves for lower of cost or market and net realizable value were $24 million and $27 million at March 31, 2023 and December 31, 2022, respectively.