Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

INVENTORIES

(In millions)	December 31, 2020		December 31, 2019
Finished products	$	2,584	$	2,684
Semi-finished products	1,813		1,850
Raw materials and supplies	485		498
Total inventories	$	4,882	$	5,032

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 years ended December 31, 2019 and 2018, the company recognized $272 million and $1,554 million in cost of goods sold in the Consolidated Statements of Operations, respectively, related to the amortization of the step-up.