INVENTORIES

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

NOTE 3 - INVENTORIES

Finished goods primarily represent 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. As of June 30, 2023 and December 31, 2022, inventories consisted of the following:

millions	June 30, 2023		December 31, 2022
Raw materials	$	120	$	120
Materials and supplies	850		913
Commodity inventory and finished goods	1,172		1,147
	2,142		2,180
Revaluation to LIFO	(121)		(121)
Total	$	2,021	$	2,059