v3.24.2
INVENTORIES
 6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
 June 30,December 31,
(Dollars in millions)20242023
Finished goods$1,352 $1,193 
Work in process298 293 
Raw materials and supplies671 618 
Total inventories at FIFO or average cost2,321 2,104 
Less: LIFO reserve421 421 
Total inventories$1,900 $1,683 
Inventories valued on the last-in, first-out ("LIFO") method were approximately 50 percent of total inventories at both June 30, 2024 and December 31, 2023.