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Inventory | 12 Months Ended
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Dec. 31, 2023
Inventory Disclosure [Abstract] |
Inventory | Inventory Our inventory consisted of the following (in millions):
| December 31, 2023 |  | December 31, 2022
Raw materials | $ | 5,390 |  |  | $ | 6,137 |
Work in process | 2,016 |  |  | 2,385 |
Finished goods (1) | 5,049 |  |  | 3,475 |
Service parts | 1,171 |  |  | 842 |
Total | $ | 13,626 |  |  | $ | 12,839 |
(1)Finished goods inventory includes products in transit to fulfill customer orders, new vehicles available for sale, used vehicles and energy products available for sale. We write-down inventory for any excess or obsolete inventories or when we believe that the net realizable value of inventories is less than the carrying value. During the years ended December 31, 2023, 2022 and 2021 we recorded write-downs of $233 million, $144 million and $106 million, respectively, in Cost of revenues in the consolidated statements of operations.

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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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