INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6: INVENTORIES

Inventories include raw materials, work-in-process and finished goods as well as materials and supplies, as shown below:

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31,  2023		DECEMBER 31,  2022
LIFO inventories:
Logs	$	29	$	32
Lumber, plywood, oriented strand board and fiberboard		77		61
Other products		12		9
Moving average cost or FIFO inventories:
Logs		49		56
Lumber, plywood, oriented strand board, fiberboard and engineered wood products		115		122
Other products		134		140
Materials and supplies		150		130
Total	$	566	$	550

If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $115 million as of December 31, 2023 and $129 million as of December 31, 2022.

HOW WE ACCOUNT FOR OUR INVENTORIES

The “Inventories” section of Note 1: Summary of Significant Accounting Policies provides details about how we account for our inventories.