v3.26.1
Inventories (Tables)
6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Components of Inventories

Inventories are stated at the lower of cost (“FIFO”) and net realizable value. The components of inventories were as follows (dollars in millions):

 

 

 

As of

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Raw materials

 

$

450

 

 

$

481

 

Work in progress

 

 

289

 

 

 

293

 

Finished products

 

 

294

 

 

 

304

 

Inventories

 

 

1,033

 

 

 

1,078

 

Inventory valuation reserve

 

 

(88

)

 

 

(86

)

Total inventories, net of reserve

 

$

945

 

 

$

992