June 30, 2026

December 31, 2025

U.S. inventory at average cost

$

985

$

1,078

Outside U.S. inventory at average cost

157

154

Total inventories

1,142

1,232

Less: Excess of average cost over LIFO cost (LIFO reserve)

(62

)

(27

)

Less: Other inventory reserves

(18

)

(13

)

Inventories, net

$

1,062

$

1,192