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Inventories | 6 Months Ended
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Jun. 30, 2024
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of:
($ in millions) | June 30, 2024 |  | December 31, 2023
Finished goods | $ | 1,889 |  |  | $ | 1,954 |
Raw materials and work in process | 8,456 |  |  | 8,037 |
Supplies | 267 |  |  | 277 |
Total | 10,612 |  |  | 10,268 |
Decrease to LIFO cost | (687) |  |  | (562) |
| $ | 9,925 |  |  | $ | 9,706 |
Recognized as: |  |  |
Inventories | $ | 6,469 |  |  | $ | 6,358 |
Other Assets | 3,456 |  |  | 3,348 |
Amounts recognized as Other Assets are comprised almost entirely of raw materials and work in process inventories. At June 30, 2024 and December 31, 2023, these amounts included $3.2 billion and $2.6 billion, respectively, of inventories not expected to be sold within one year. In addition, these amounts included $250 million and $790 million at June 30, 2024 and December 31, 2023, respectively, 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/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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