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Inventories

6 Months Ended

Jun. 30, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)	June 30, 2017				December 31, 2016
Finished goods	$	1,396			$	1,304
Raw materials and work in process	4,654				4,222
Supplies	175				155
Total (approximates current cost)	6,225				5,681
Increase to LIFO costs	258				302
	$	6,483			$	5,983
Recognized as:
Inventories	$	5,407			$	4,866
Other assets	1,076				1,117

Amounts recognized as Other assets are comprised almost entirely of raw materials and work in process inventories. At June 30, 2017 and December 31, 2016, these amounts included $1.0 billion of inventories not expected to be sold within one year. In addition, these amounts included $80 million at June 30, 2017 and December 31, 2016 of inventories produced in preparation for product launches.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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