INVENTORIES (Notes)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The following table provides a breakdown of inventories:

Inventories at Dec 31
In millions	2021		2020
Finished goods	$	238	$	157
Work in process	33		23
Raw materials	59		38
Supplies	76		98
Total	$	406	$	316
Adjustment of inventories to the LIFO basis	(156)		(93)
Total inventories	$	250	$	223

Inventories valued on the LIFO basis, principally U.S. chemicals and plastics product inventories, represented 64 percent of the total inventories at December 31, 2021 and 50 percent of the total inventories at December 31, 2020. A reduction of certain inventories resulted in the liquidation of certain LIFO inventory layers, which did not have an impact in 2021 and decreased pretax income $2 million in 2020 and $14 million in 2019.