Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES

3.

INVENTORIES

Inventories consisted of the following (in millions):

	September 30, 2019		December 31, 2018
Refinery feedstocks	$	2,051	$	2,265
Refined petroleum products and blendstocks	3,746		3,653
Ethanol feedstocks and products	253		298
Renewable diesel feedstocks and products	53		52
Materials and supplies	273		264
Inventories	$	6,376	$	6,532

As of September 30, 2019 and December 31, 2018, the replacement cost (market value) of last-in, first-out (LIFO) inventories exceeded their LIFO carrying amounts by $2.6 billion and $1.5 billion, respectively. Our non-LIFO inventories accounted for $1.1 billion of our total inventories as of September 30, 2019 and December 31, 2018.