INVENTORIES

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 3 - 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 LIFO method. Inventories consisted of the following as of December 31:

millions	2022		2021
Raw materials	$	120	$	96
Materials and supplies	913		783
Commodity inventory and finished goods	1,147		1,066
	2,180		1,945
Revaluation to LIFO	(121)		(99)
Total	$	2,059	$	1,846