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INVENTORIES

9 Months Ended

Sep. 30, 2012

The following table provides a breakdown of inventories:



Inventories In millions	Sep 30, 2012		Dec 31, 2011
Finished goods	$	248	$	71
Work in process	31		6
Raw materials	46		51
Supplies	81		79
Total inventories	$	406	$	207

The reserves reducing inventories from the first-in, first-out (“FIFO”) basis to the last-in, first-out (“LIFO”) basis amounted to $149 million at September 30, 2012 and $162 million at December 31, 2011.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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