Inventories, net

3 Months Ended

Mar. 31, 2012

Inventories, Net.

Inventories, net consists of the following:



	March 31, 2012		December 31, 2011
	(in millions)
Raw materials	$	262	$	248
Work in process	206		202
Finished goods	767		731
	1,235		1,181
Other:
Ferrous metals	81		92
Non-ferrous metals	43		33
Secondary metals	35		38
	159		163
Total inventories, net	$	1,394	$	1,344

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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