Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

4.

INVENTORIES

Inventories consisted of the following (in millions):

	December 31,
	2019		2018
Refinery feedstocks	$	2,399	$	2,265
Refined petroleum products and blendstocks	4,034		3,653
Ethanol feedstocks and products	260		298
Renewable diesel feedstocks and products	46		52
Materials and supplies	274		264
Inventories	$	7,013	$	6,532

As of December 31, 2019 and 2018, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by $2.5 billion and $1.5 billion, respectively. Our non-LIFO inventories accounted for $1.4 billion and $1.1 billion of our total inventories as of December 31, 2019 and 2018, respectively.