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Inventories | 12 Months Ended
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Dec. 31, 2017
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories at December 31 consisted of:
| 2017 |  | 2016
Finished goods | $ | 1,334 |  |  | $ | 1,304 |
Raw materials and work in process | 4,703 |  |  | 4,222 |
Supplies | 201 |  |  | 155 |
Total (approximates current cost) | 6,238 |  |  | 5,681 |
Increase to LIFO costs | 45 |  |  | 302 |
| $ | 6,283 |  |  | $ | 5,983 |
Recognized as: |  |  |
Inventories | $ | 5,096 |  |  | $ | 4,866 |
Other assets | 1,187 |  |  | 1,117 |
Inventories valued under the LIFO method comprised approximately $2.2 billion and $2.3 billion of inventories at December 31, 2017 and 2016, respectively. Amounts recognized as Other assets are comprised almost entirely of raw materials and work in process inventories. At December 31, 2017 and 2016, these amounts included $1.1 billion and $1.0 billion, respectively, of inventories not expected to be sold within one year. In addition, these amounts included $80 million at both December 31, 2017 and 2016, of inventories produced in preparation for product launches.

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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 + Details
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