Inventories, Net

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, Net

Certain U.S. inventories are measured by the last-in, first-out (“LIFO”) method at the lower of cost or market, while other U.S. and foreign operations use the first-in, first-out (“FIFO”) or average-cost methods at the lower of cost and net realizable value. Inventories, net consisted of the following:

	September 30,		December 31,
(in millions)	2020		2019
Raw material and supplies	$	529	$	502
Work in progress	115		113
Finished goods	186		207
FIFO inventories	830		822
LIFO reserve	(15)		(15)
Inventories, net	$	815	$	807