INVENTORIES

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6 - INVENTORIES

Finished goods primarily represents oil, which is carried at the lower of weighted-average cost or net realizable value, and caustic soda and chlorine, which are valued under the LIFO method. Inventories consisted of the following at December 31:

millions	2020		2019
Raw materials	$	70	$	75
Materials and supplies	848		974
Commodity inventory and finished goods	1,009		572
	1,927		1,621
Revaluation to LIFO	(29)		(40)
Total	$	1,898	$	1,581