Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

(In millions)	December 31, 2021		December 31, 2020
Finished products	$	2,497	$	2,584
Semi-finished products	2,076		1,813
Raw materials and supplies	607		485
Total inventories	$	5,180	$	4,882

As a result of the Merger, a fair value step-up of $2,297 million was recorded for inventories. This fair value step-up was fully

amortized, as of December 31, 2019. During the year ended December 31, 2019, the company recognized $272 million in cost of goods sold in the Consolidated Statements of Operations related to the amortization of the step-up.