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Inventories | 12 Months Ended
--- | ---
Dec. 31, 2023
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following:
| December 31
Millions of dollars | 2023 | 2022
Finished products and parts | $ | 2,069 | $ | 1,859
Raw materials and supplies | 1,021 | 953
Work in process | 136 | 111
Total inventories | $ | 3,226 | $ | 2,923
All amounts in the table above are reported net of obsolescence reserves of $81 million at December 31, 2023 and $104 million at December 31, 2022. During the year ended December 31, 2023, there were no impairments charges related to inventory. During the year ended December 31, 2022, we recorded $70 million of impairment charges related to inventory. These charges were primarily attributable to our exit from Russia. See Note 2 to the consolidated financial statements for further discussion on impairments and other charges.

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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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