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Inventories

12 Months Ended

Dec. 31, 2014

7. INVENTORIES

Inventories consist of:


	2014		2013
Raw materials and supplies	$	914	$	947
Work-in-process		241		273
Finished goods		362		339
Tooling and engineering		1,240		1,078

	$	2,757	$	2,637

Tooling and engineering inventory represents costs incurred on tooling and engineering services contracts in excess of billed and unbilled amounts included in accounts receivable.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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