INVENTORIES

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5: INVENTORIES

Inventories include raw materials, work-in-process and finished goods, as well as materials and supplies.

DOLLAR AMOUNTS IN MILLIONS	JUNE 30, 2023		DECEMBER 31, 2022
LIFO inventories:
Logs	$	25	$	32
Lumber, plywood, panels and fiberboard		69		61
Other products		19		9
Moving average cost or FIFO inventories:
Logs		40		56
Lumber, plywood, panels, fiberboard and engineered wood products		110		122
Other products		132		140
Materials and supplies		144		130
Total	$	539	$	550

LIFO – the last-in, first-out method – applies to major inventory products held at our U.S. locations. The moving average cost method or FIFO – the first-in, first-out method – applies to the balance of our U.S. raw material and product inventories, all material and supply inventories and all foreign inventories.