Inventories, Net

12 Months Ended

Dec. 31, 2017

Inventories, net of reserves, by category were as follows:



	December 31,
(Dollars in millions)	2017		2016
Raw materials, components and supplies	$	144	$	168
Work in process	47		49
Finished goods	1,043		1,585
	$	1,234	$	1,802

Work in process and finished goods inventories include cost of materials, labor and manufacturing overhead. During 2017, 2016 and 2015, we recognized inventory write-off and other related charges, including excess and obsolete totaling $540 million, $269 million and $244 million, respectively. These charges were largely attributable to downturn in the oil and gas industry, where certain inventory has been deemed commercially unviable or technologically obsolete considering current and future demand.