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Inventories
 12 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
Inventories

7.  Inventories

Inventories consists of the following:

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December 31, 

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2021

    

2020

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(in millions)

Raw materials

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$

291

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$

183

Work in process

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83

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83

Finished goods

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1,104

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1,314

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$

1,478

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$

1,580

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During the fourth quarter of 2021, our Automotive segment had inventories with a carrying value in excess of net realizable value. As a result, our Automotive segment recorded a write-down of its inventories of $56 million, which is included in cost of goods sold in the consolidated statements of operations for the year ended December 31, 2021. During the first quarter of 2020, our Energy segment had inventories with a carrying value in excess of net realizable value. As a result, our Energy segment recorded a write-down of its inventories of $58 million, which is included in cost of goods sold in the consolidated statements of operations for the year ended December 31, 2020. The write-down represents the difference between the carrying value of inventories accounted for using the first-in-first-out method and selling prices for refined products subsequent to March 31, 2020.