v3.20.4

Inventories, net | 12 Months Ended
--- | ---
Dec. 31, 2020
Inventory Disclosure [Abstract] |
Inventories, net | Inventories, net Inventories are summarized as follows:
| 2020 |  | 2019
Raw materials | 66 |  |  | 52 |
Work in process | 786 |  |  | 894 |
Finished goods | 178 |  |  | 246 |
| 1,030 |  |  | 1,192 |
The portion of finished goods stored at customer locations under consignment amounted to $31 million as of December 31, 2020 (2019: $41 million). The amounts recorded above are net of an allowance for obsolescence of $122 million as of December 31, 2020 (2019: $114 million).

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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 http://asc.fasb.org/topic&trid=2126998 + Details
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