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Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)			March 31, 2024						December 31, 2023
Finished goods			$	1,902					$	1,954
Raw materials and work in process			8,366						8,037
Supplies			276						277
Total			10,544						10,268
Decrease to LIFO cost			(621)						(562)
			$	9,923					$	9,706
Recognized as:
Inventories			$	6,510					$	6,358
Other Assets			3,413						3,348

Amounts recognized as Other Assets are comprised almost entirely of raw materials and work in process inventories. At both March 31, 2024 and December 31, 2023, these amounts included $2.6 billion of inventories not expected to be sold within one year. In addition, these amounts included $861 million and $790 million at March 31, 2024 and December 31, 2023, 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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