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Inventories

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)			September 30, 2023						December 31, 2022
Finished goods			$	1,840					$	1,841
Raw materials and work in process			7,630						7,063
Supplies			281						238
Total			9,751						9,142
Decrease to LIFO cost			(469)						(293)
			$	9,282					$	8,849
Recognized as:
Inventories			$	6,131					$	5,911
Other Assets			3,151						2,938

Amounts recognized as Other Assets are comprised almost entirely of raw materials and work in process inventories. At both September 30, 2023 and December 31, 2022, these amounts included $2.4 billion of inventories not expected to be sold within one year. In addition, these amounts included $756 million and $516 million at September 30, 2023 and December 31, 2022, 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://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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