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INVENTORIES

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 7. INVENTORIES

Inventories are stated at the lower of cost or net realizable value. Inventories included the following:

 

In millions						September 30, 2024						December 31, 2023
Finished products						$	2,964					$	2,770
Work-in-process and raw materials						3,391						3,156
Inventories at FIFO cost						6,355						5,926
Excess of FIFO over LIFO						(221)						(249)
Inventories						$	6,134					$	5,677

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- References

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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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