Inventories |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories | Inventories
Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 35% and 38% of total inventories at June 30, 2017 and December 31, 2016, respectively. If the first-in, first-out method of inventory valuation had been used, inventories would have been $102 million and $106 million higher as of June 30, 2017 and December 31, 2016, respectively. |
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