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Inventories (Tables) | 3 Months Ended
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Mar. 31, 2015
Inventory, Net [Abstract] |
Schedule of Inventory | The following table summarizes our inventory for the periods presented:
Millions of dollars |  | March 31, 2015 |  | December 31, 2014
Finished products |  | $ | 2,275 |  |  | $ | 2,189 |
Raw materials and work in process |  | 888 |  |  | 724 |
|  | 3,163 |  |  | 2,913 |
Less: excess of FIFO cost over LIFO cost |  | (161 | ) |  | (173 | )
Total inventories |  | $ | 3,002 |  |  | $ | 2,740 |

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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5 + Details
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