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Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)	March 31, 2019				December 31, 2018
Finished goods	$	1,698			$	1,658
Raw materials and work in process	5,217				5,004
Supplies	201				194
Total (approximates current cost)	7,116				6,856
(Decrease) increase to LIFO costs	(6		)		1
	$	7,110			$	6,857
Recognized as:
Inventories	$	5,712			$	5,440
Other assets	1,398				1,417

Amounts recognized as Other assets are comprised almost entirely of raw materials and work in process inventories. At March 31, 2019 and December 31, 2018, these amounts included $1.3 billion and $1.4 billion, respectively, of inventories not expected to be sold within one year. In addition, these amounts included $85 million and $7 million at March 31, 2019 and December 31, 2018, respectively, 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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