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Inventories, net
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories, net Inventories, net
Inventories, net consisted of the following:
December 31,
20252024
Raw materials$399 $329 
Work-in-process163 129 
Finished goods, net850 855 
Materials and supplies, net240 238 
Inventories, net$1,652 $1,551 
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, 2025 and 2024, there was approximately $57 million and $59 million, respectively, of inventory that is not expected to be sold within in one year and as such, has been recorded in "Other long-term assets" on the Consolidated Balance Sheet.
At December 31, 2025 and 2024, inventory obsolescence reserves were $47 million and $44 million, respectively. At December 31, 2025 and December 31, 2024, reserves for lower of cost and net realizable value were $42 million and $28 million, respectively.