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Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

(In millions)	September 30, 2019			December 31, 2018			September 30, 2018
Finished products	$	2,295		$	3,022		$	2,649
Semi-finished products	1,691			1,821			1,902
Raw materials and supplies	417			467			347
Total inventories	$	4,403		$	5,310		$	4,898

As a result of the Merger, a fair value step-up of $2,297 million was recorded for inventories. This fair value step-up has been fully amortized, as of September 30, 2019. During the three and nine months ended September 30, 2019, the company recognized $15 million and $272 million of these costs in cost of goods sold within loss from continuing operations before income taxes. During the three and nine months ended September 30, 2018, the company recognized $109 million and $1,424 million of these costs in cost of goods sold within loss from continuing operations before income taxes.

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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 http://asc.fasb.org/topic&trid=2126998

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