INVENTORIES

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6: INVENTORIES

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

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2021		DECEMBER 31, 2020
LIFO inventories:
Logs	$	26	$	24
Lumber, plywood, panels and fiberboard		61		59
Other products		17		9
Moving average cost or FIFO inventories:
Logs		65		64
Lumber, plywood, panels, fiberboard and engineered wood products		106		84
Other products		131		100
Materials and supplies		114		103
Total	$	520	$	443

If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $103 million as of December 31, 2021 and $76 million as of December 31, 2020.

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.