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INVENTORIES | 12 Months Ended
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Dec. 31, 2022
Inventory, Net [Abstract] |
INVENTORIES | INVENTORIES The following table summarizes our inventories at December 31, 2022 and 2021:
Millions of dollars |  | 2022 |  | 2021
Finished products |  | $ | 1,580 |  |  | $ | 1,958 |
Raw materials and work in process |  | 509 |  |  | 759 |
Total inventories (1) |  | $ | 2,089 |  |  | $ | 2,717 |
(1) $650 million of inventories of the European major appliance business has been classified as assets held for sale. For additional information, see Note 17 to the Consolidated Financial Statements.

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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 + Details
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