Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

(In millions)	June 30, 2020		December 31, 2019		June 30, 2019
Finished products	$	1,831	$	2,684	$	2,103
Semi-finished products	1,364		1,850		1,373
Raw materials and supplies	394		498		442
Total inventories	$	3,589	$	5,032	$	3,918

As a result of the Merger, a fair value step-up of $2,297 million was recorded for inventories. During the three and six months ended June 30, 2019, the company recognized $52 million and $257 million of these costs in cost of goods sold within income from continuing operations before income taxes.