v3.26.1
Note 4 - Inventories
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Inventory Disclosure [Text Block]

4. INVENTORIES

We state our inventories at the lower of cost or market, with cost determined using primarily average cost and last-in first-out (“LIFO”) methods for different components of inventory. Inventories consisted of the following (dollars in millions):

  March 31,  December 31, 
  

2026

  

2025

 

Raw materials and supplies

 $186  $163 

Work in progress

  40   39 

Finished goods

  705   658 

Total

  931   860 

LIFO reserves

  (46)  (42)

Net inventories

 $885  $818 

As of both  March 31, 2026 and December 31, 2025, approximately 9% of our inventories were recorded using the LIFO cost method.​