INVENTORIES

9 Months Ended

Sep. 30, 2018

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

	September 30,		December 31,
(Dollars in millions)	2018		2017
Finished goods	$	1,118	$	1,114
Work in process	271		213
Raw materials and supplies	554		470
Total inventories at FIFO or average cost	1,943		1,797
Less: LIFO reserve	318		288
Total inventories	$	1,625	$	1,509

Inventories valued on the last-in, first-out ("LIFO") method were approximately 55 percent and 60 percent of total inventories at September 30, 2018 and December 31, 2017, respectively.