Annual report pursuant to Section 13 and 15(d)

Note 5 - Inventories - Inventories (Details)

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Note 5 - Inventories - Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 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 [1] $ 867 $ 995
[1] At December 31, 2023 and December 31, 2022, respectively, $2 and $5 of cash and cash equivalents, $16 and $4 of accounts and notes receivable (net), $48 and $59 of inventories, $150 and $149 of property, plant and equipment (net), $32 and $29 of other noncurrent assets, $84 and $114 of accounts payable, $20 and $12 of accrued liabilities, $9 each of current portion of debt, $8 and $9 of current operating lease liabilities, $17 and $26 of long-term debt, $21 and $19 of noncurrent operating lease and $15 and $25 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See “Note 8. Variable Interest Entities.” These assets can only be used to settle obligations of the variable interest entities, and creditors of these liabilities do not have recourse to our general credit.