Inventories, Net

12 Months Ended

Dec. 31, 2020

7. Inventories, Net

Inventories, net of reserves of $119 million and $0 as of December 31, 2020 and December 31, 2019, respectively, by category were as follows:


	December 31,
(Dollars in millions)	2020		2019
Finished Goods	$	655	$	830
Raw Materials, Components and Supplies	62		142
Total Inventory	$	717	$	972

During the 2020 and 2019 Successor Periods and the 2019 and 2018 Predecessor Periods, inventory charges were $210 million, $0, $159 million and $80 million, respectively. Inventory charges recognized included write-downs for excess and obsolete inventory considered commercially unviable or technologically obsolete considering current and future demand, as a result of the volatility in oil and gas commodity demand, the downturn in the oil and gas industry and in 2020, the impact of the COVID-19 pandemic. These charges were recognized in the following captions on our Consolidated Statements of Operations:



	Successor				Predecessor
			Period From		Period From
	Year		12/14/2019		1/1/2019		Year
	Ended		through		through		Ended
(Dollars in millions)	12/31/2020		12/31/2019		12/13/2019		12/31/2018
Inventory Charges in “Impairments and Other Charges”	$	138	$	—	$	117	$	—
Inventory Charges in “Cost of Products”	57		—		18		80
Inventory Charges in “Restructuring Charges”	15		—		24		—
Total Inventory Charges	$	210	$	—	$	159	$	80