
3.	INVENTORIES

Inventories consisted of the following (in millions):



	September 30, 2015		December 31, 2014
Refinery feedstocks	$	2,728	$	2,269
Refined products and blendstocks	3,396		3,926
Ethanol feedstocks and products	190		195
Materials and supplies	243		233
Inventories	$	6,557	$	6,623

As of September 30, 2015 and December 31, 2014, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by $1.0 billion and $857 million, respectively. As of September 30, 2015 and December 31, 2014, our non-LIFO inventories accounted for $634 million and $906 million, respectively, of our total inventories.