Quarterly report [Sections 13 or 15(d)]

Note 4 - Inventories

v3.26.1
Note 4 - Inventories
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Inventory Disclosure [Text Block]

4. INVENTORIES

We state our inventories at the lower of cost or market, with cost determined using primarily average cost and last-in first-out (“LIFO”) methods for different components of inventory. Inventories consisted of the following (dollars in millions):

    March 31,     December 31,  
   

2026

   

2025

 

Raw materials and supplies

  $ 186     $ 163  

Work in progress

    40       39  

Finished goods

    705       658  

Total

    931       860  

LIFO reserves

    (46 )     (42 )

Net inventories

  $ 885     $ 818  

As of both  March 31, 2026 and December 31, 2025, approximately 9% of our inventories were recorded using the LIFO cost method.​