INVENTORIES

The following table provides a breakdown of inventories:



Inventories at December 31 In millions	2016			2015
Finished goods	$	186		$	191
Work in process	38			33
Raw materials	50			42
Supplies	87			86
Total FIFO inventories	$	361		$	352
Adjustment of inventories to a LIFO basis	(54		)	(49		)
Total inventories	$	307		$	303

Inventories that were valued on a LIFO basis, principally U.S. chemicals and plastics product inventories, represented 68 percent of the total inventories at December 31, 2016, and 67 percent of the total inventories at December 31, 2015.

A reduction of certain inventories resulted in the liquidation of some of the Corporation's LIFO inventory layers, which had an immaterial impact on pretax income in 2016 and 2014, and decreased pretax income $14 million in 2015.