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Annual report pursuant to Section 13 and 15(d)

Note 5 - Inventories

v3.24.0.1
Note 5 - Inventories
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]

5. INVENTORIES

Inventories consisted of the following (dollars in millions):

December 31,

2023

2022

Raw materials and supplies

$ 191 $ 241

Work in progress

39 40

Finished goods

673 758

Total

903 1,039

LIFO reserves

(36 ) (44 )

Net inventories

$ 867 $ 995

For both听 December 31, 2023 and 2022, approximately 8%听of inventories were recorded using the LIFO cost method.