Inventories

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

2.    INVENTORIES

Inventories consisted of the following (in millions):

	September 30, 2022		December 31, 2021
Refinery feedstocks	$	1,781	$	1,995
Refined petroleum products and blendstocks	4,008		3,567
Renewable diesel feedstocks and products	310		135
Ethanol feedstocks and products	228		273
Materials and supplies	301		295
Inventories	$	6,628	$	6,265

As of September 30, 2022 and December 31, 2021, the replacement cost (market value) of last-in, first-out (LIFO) inventories exceeded their LIFO carrying amounts by $8.6 billion and $5.2 billion, respectively. Our non-LIFO inventories accounted for $1.3 billion and $1.4 billion of our total inventories as of September 30, 2022 and December 31, 2021, respectively.