Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

($ in millions)	September 30, 2024	December 31, 2023
Finished products	$1,247	$1,197
Work in process	272	236
Raw materials	693	640
Supplies	51	54
Total Inventories	$2,263	$2,127

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 16% and 20% of total inventories at September 30, 2024 and December 31, 2023, respectively. If the first-in, first-out ("FIFO") method of inventory valuation had been used, inventories would have been $235 million and $249 million higher as of September 30, 2024 and December 31, 2023, respectively.