v3.23.3

INVENTORIES

9 Months Ended

Sep. 30, 2023

Inventory, Net [Abstract]

INVENTORIES

INVENTORIES

Inventories, net of reserves of $391 million and $396 million as of September 30, 2023 and December 31, 2022, respectively, are comprised of the following:

			September 30, 2023			December 31, 2022
Finished goods			$	2,594		$	2,419
Work in process and raw materials			2,370			2,168
Total inventories, net			$	4,964		$	4,587

During the three and nine months ended September 30, 2023, we recorded inventory impairments of nil and $33 million, respectively, primarily in our Oilfield Services & Equipment ("OFSE") segment. During the three and nine months ended September 30, 2022, we recorded inventory impairments of nil and $31 million, respectively, primarily in our Industrial & Energy Technology ("IET") segment. 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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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- References

No definition available.

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