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INVENTORIES

3 Months Ended

Mar. 31, 2015

4)INVENTORIES

(In millions)	March 31, 2015		December 31, 2014
Finished goods	$	197	$	200
Work in process	36		35
Raw materials and supplies	80		94
	$	313	$	329

Included in the above net inventory balances are inventory obsolescence reserves of approximately $12 million and $13 million at March 31, 2015 and December 31, 2014, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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