v3.23.1

INVENTORIES

3 Months Ended

Mar. 31, 2023

Inventory, Net [Abstract]

INVENTORIES

INVENTORIES

Inventories, net of reserves of $383 million and $396 million as of March 31, 2023 and December 31, 2022, respectively, are comprised of the following:

			March 31, 2023			December 31, 2022
Finished goods			$	2,461		$	2,419
Work in process and raw materials			2,325			2,168
Total inventories, net			$	4,786		$	4,587

During the three months ended March 31, 2023, we recorded inventory impairments of $18 million, predominately in our Oilfield Services & Equipment ("OFSE") segment. Charges for inventory impairments are reported in the "Cost of goods sold" caption in the condensed consolidated statements of income (loss). See "Note 16. Restructuring, Impairment, and Other" for further information.

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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

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- References

No definition available.

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