Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

($ in millions)	June 30, 2022	December 31, 2021
Finished products	$1,336	$1,175
Work in process	263	234
Raw materials	843	723
Supplies	39	39
Total Inventories	$2,481	$2,171

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 31% and 29% of total inventories at both June 30, 2022 and December 31, 2021. If the first-in, first-out method of inventory valuation had been used, inventories would have been $234 million and $174 million higher as of June 30, 2022 and December 31, 2021, respectively.