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Inventories | 12 Months Ended
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Dec. 31, 2022
Inventory Disclosure [Abstract] |
Inventories | Note 2—Inventories Inventories at December 31 were:
| Millions of Dollars
| 2022 | 2021
Crude oil and natural gas | $ | 641 |  | 647 |
Materials and supplies | 578 |  | 561 |
Total inventories | $ | 1,219 |  | 1,208 |
Inventories valued on the LIFO basis | $ | 396 |  | 395 |
The estimated excess of current replacement cost over LIFO cost of inventories was approximately $149 million and $251 million at December 31, 2022 and 2021, respectively.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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