Inventories

12 Months Ended

Dec. 31, 2020

Inventory, Net [Abstract]

Inventories

INVENTORIES

The classes of inventory as of December 31 are summarized as follows ($ in millions):

	2020		2019
Finished goods	$	1,232	$	833
Work in process	369		285
Raw materials	691		510
Total	$	2,292	$	1,628

As of December 31, 2020 and 2019, the difference between inventories valued at LIFO and the value of that same inventory if the FIFO method had been used was not significant. The liquidation of LIFO inventory did not have a significant impact on the Company’s results of operations in any period presented.