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INVENTORIES
 3 Months Ended
Mar. 31, 2024
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 March 31, 2024 and December 31, 2023, inventories consisted of the following:

millionsMarch 31, 2024December 31, 2023
Raw materials$107 $115 
Materials and supplies1,068 988 
Commodity inventory and finished goods1,064 1,027 
2,239 2,130 
Revaluation to LIFO(108)(108)
Total
$2,131 $2,022