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Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.19.3.a.u2
INVENTORIES
12 Months Ended
Dec. 31, 2019
INVENTORIES Ìý
INVENTORIES

5. INVENTORIES

Inventories consisted of the following (dollars in millions):

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DecemberÌý31,Ìý

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DecemberÌý31,Ìý

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ÌýÌýÌýÌý

2019

ÌýÌýÌýÌý

2018

Raw materials and supplies

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$

175

�

$

191

Work in progress

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�

49

�

�

51

Finished goods

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�

718

�

�

798

Total

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�

942

�

�

1,040

LIFO reserves

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�

(28)

�

�

(40)

Net inventories

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$

914

�

$

1,000

�

For DecemberÌý31, 2019 and 2018, approximately 9% and 6% of inventories were recorded using the LIFO cost method, respectively.