Annual report pursuant to Section 13 and 15(d)

INVENTORIES

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

5. INVENTORIES

Inventories consisted of the following (dollars in millions):

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​

​

​

​

​

​

​

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December 31, 

​

December 31, 

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2019

    

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 December 31, 2019 and 2018, approximately 9% and 6% of inventories were recorded using the LIFO cost method, respectively.