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Inventories | 12 Months Ended
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Dec. 31, 2016
Inventories |
Inventories | Note 3 Inventories The following table is a summary of inventories at the end of each year:
|  |  | December 31, |
(Millions of dollars) |  |  | 2016 |  | 2015 |
At lower of LIFO cost or market: |  |  |  |  |  |  |  |
Live hogs and materials |  |  | $ | 273 |  | $ | 210 |
Fresh pork and materials |  |  |  | 34 |  |  | 26 |
|  |  |  | 307 |  |  | 236 |
LIFO adjustment |  |  |  | (21) |  |  | (28) |
Total inventories at lower of LIFO cost or market |  |  |  | 286 |  |  | 208 |
At lower of FIFO cost or market: |  |  |  |  |  |  |  |
Grains, oilseeds and other commodities |  |  |  | 279 |  |  | 330 |
Sugar produced and in process |  |  |  | 30 |  |  | 52 |
Other |  |  |  | 62 |  |  | 61 |
Total inventories at lower of FIFO cost or market |  |  |  | 371 |  |  | 443 |
Grain, flour and feed at lower of weighted average cost or market |  |  |  | 105 |  |  | 88 |
Total inventories |  |  | $ | 762 |  | $ | 739 |
The use of the LIFO method increased 2016, 2015 and 2014 net earnings by $5 million ($3.92 per common share), $5 million ($4.39 per common share), and by $16 million ($13.29 per common share), respectively. If the FIFO method had been used for certain inventories of the Pork segment, inventories would have been higher by $21 million and $28 million as of December 31, 2016 and 2015, respectively.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: 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 + Details
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