INVENTORIES

The following table provides a breakdown of inventories:



Inventories at December 31 In millions	2015		2014
Finished goods	$	157	$	205
Work in process	22		30
Raw materials	39		45
Supplies	85		98
Total inventories	$	303	$	378

The reserves reducing inventories from a FIFO basis to a LIFO basis amounted to $49 million at December 31, 2015 and $125 million at December 31, 2014. Inventories that were valued on a LIFO basis, principally U.S. chemicals and plastics product inventories, represented 67 percent of the total inventories at December 31, 2015, and 67 percent of the total inventories at December 31, 2014.

A reduction of certain inventories resulted in the liquidation of some of the Corporation's LIFO inventory layers, which decreased pretax income $14 million in 2015 and had an immaterial impact on pretax income in 2014 and 2013.