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Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.8.0.1
INVENTORIES
12 Months Ended
Dec. 31, 2017
INVENTORIES Ìý
INVENTORIES

4.ÌýÌýINVENTORIES

Inventories consisted of the following (dollars in millions):

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

DecemberÌý31,Ìý

Ìý

DecemberÌý31,Ìý

Ìý

ÌýÌýÌýÌý

2017

ÌýÌýÌýÌý

2016

Raw materials and supplies

Ìý

$

189

Ìý

$

157

Work in progress

Ìý

Ìý

48

Ìý

Ìý

45

Finished goods

Ìý

Ìý

897

Ìý

Ìý

771

TotalÌý

Ìý

Ìý

1,134

Ìý

Ìý

973

LIFO reserves

Ìý

Ìý

(61)

Ìý

Ìý

(55)

Net inventories

Ìý

$

1,073

Ìý

$

918

Ìý

For DecemberÌý31, 2017 and 2016, approximately 12% and 13% of inventories were recorded using the LIFO cost method, respectively.