Inventories

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

($ in millions)	September 30, 2023	December 31, 2022
Finished products	$1,201	$1,209
Work in process	256	238
Raw materials	710	784
Supplies	50	41
Total Inventories	$2,217	$2,272

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 16% and 21% of total inventories at September 30, 2023 and December 31, 2022, respectively. If the first-in, first-out ("FIFO") method of inventory valuation had been used, inventories would have been $262 million and $272 million higher as of September 30, 2023 and December 31, 2022, respectively.