Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Commodity inventory and finished goods primarily represents crude oil, which is carried at the lower of weighted-average cost or market value, and caustic soda and chlorine, which are valued under the last-in, first-out (LIFO) method. Inventories consisted of the following:

millions	September 30, 2019			December 31, 2018
Raw materials	$	67		$	74
Materials and supplies	916			445
Commodity inventory and finished goods	665			788
	1,648			1,307
Revaluation to LIFO	(47		)	(47		)
Total	$	1,601		$	1,260