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INVENTORIES, NET
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
A summary of Inventories, net is presented below:
December 31,
(in millions)
20242023
Raw material and supplies$915 $991 
Work-in-progress147 160 
Finished goods189 194 
FIFO inventories1,251 1,345 
LIFO reserve1
— (32)
Inventories, net$1,251 $1,313 
_____________________________
1 During the fourth quarter of 2024, the Company changed the accounting method for certain inventories previously accounted for under LIFO to FIFO. As of December 31, 2024, no inventories are accounted for under the LIFO method. Refer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for more details.