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Registration of securities issued in business combination transactions

INVENTORIES

v2.4.0.8
INVENTORIES
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
INVENTORIES Ìý Ìý
INVENTORIES

4. INVENTORIES

ÌýÌýÌýÌýÌýÌýÌýÌýInventories are stated at the lower of cost or market, with cost determined using last-in first-out ("LIFO"), first-in first-out, and average costs methods for different components of inventory. Inventories consisted of the following (dollars in millions):

Ìý
Ìý MarchÌý31,
2014
Ìý DecemberÌý31,
2013
Ìý

Raw materials and supplies

Ìý $ 450 Ìý $ 433 Ìý

Work in progress

Ìý Ìý 90 Ìý Ìý 92 Ìý

Finished goods

Ìý Ìý 1,450 Ìý Ìý 1,290 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total

Ìý Ìý 1,990 Ìý Ìý 1,815 Ìý

LIFO reserves

Ìý Ìý (79 ) Ìý (74 )
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Net

Ìý $ 1,911 Ìý $ 1,741 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

ÌýÌýÌýÌýÌýÌýÌýÌýFor both MarchÌý31, 2014 and DecemberÌý31, 2013, approximately 11% of inventories were recorded using the LIFO cost method.

4. INVENTORIES

ÌýÌýÌýÌýÌýÌýÌýÌýInventories consisted of the following (dollars in millions):

Ìý
Ìý DecemberÌý31, Ìý
Ìý
Ìý 2013 Ìý 2012 Ìý

Raw materials and supplies

Ìý $ 433 Ìý $ 484 Ìý

Work in progress

Ìý Ìý 92 Ìý Ìý 98 Ìý

Finished goods

Ìý Ìý 1,290 Ìý Ìý 1,311 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total

Ìý Ìý 1,815 Ìý Ìý 1,893 Ìý

LIFO reserves

Ìý Ìý (74 ) Ìý (74 )
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Net

Ìý $ 1,741 Ìý $ 1,819 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

ÌýÌýÌýÌýÌýÌýÌýÌýFor both DecemberÌý31, 2013 and 2012, approximately 11% of inventories were recorded using the LIFO cost method.