INVENTORIES

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6: INVENTORIES

Inventories include raw materials, work-in-process and finished goods as well as materials and supplies, as shown below:

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31,  2022		DECEMBER 31,  2021
LIFO inventories:
Logs	$	32	$	26
Lumber, plywood, panels and fiberboard		61		61
Other products		9		17
Moving average cost or FIFO inventories:
Logs		56		65
Lumber, plywood, panels, fiberboard and engineered wood products		122		106
Other products		140		131
Materials and supplies		130		114
Total	$	550	$	520

If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $129 million as of December 31, 2022 and $103 million as of December 31, 2021.

HOW WE ACCOUNT FOR OUR INVENTORIES

The “Inventories” section of Note 1: Summary of Significant Accounting Policies provides details about how we account for our inventories.