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INVENTORIES

9 Months Ended

Sep. 30, 2014

The following table provides a breakdown of inventories:



Inventories In millions	Sep 30, 2014		Dec 31, 2013
Finished goods	$	243	$	233
Work in process	39		31
Raw materials	52		50
Supplies	98		90
Total inventories	$	432	$	404

The reserves reducing inventories from the first-in, first-out (“FIFO”) basis to the last-in, first-out (“LIFO”) basis amounted to $146 million at September 30, 2014 and $132 million at December 31, 2013.

- 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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