Inventories

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

Inventories

NOTE 4 - INVENTORIES

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

millions	March 31, 2021		December 31, 2020
Raw materials	$	69	$	70
Materials and supplies	851		848
Commodity inventory and finished goods	1,282		1,009
	2,202		1,927
Revaluation to LIFO	(29)		(29)
Total	$	2,173	$	1,898