INVENTORIES

9 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories, net were as follows:

(in millions)	September 30, 2021		December 31, 2020
Finished goods	$	343	$	274
Work-in-process	73		68
Raw materials and supplies	132		134
Inventories, net	$	548	$	476

The Company’s inventory reserve was $89 million and $117 million at September 30, 2021 and December 31, 2020, respectively. Inventories are stated at the lower of cost and net realizable value.