
4.	INVENTORIES

Inventories consisted of the following (in millions):



	September 30, 2018		December 31, 2017
Refinery feedstocks	$	2,607	$	2,427
Refined petroleum products and blendstocks	4,423		3,459
Ethanol feedstocks and products	211		242
Materials and supplies	260		256
Inventories	$	7,501	$	6,384

As of September 30, 2018 and December 31, 2017, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by $4.7 billion and $3.0 billion, respectively, and our non-LIFO inventories accounted for $1.4 billion and $1.0 billion, respectively, of our total inventories.