INVENTORY, NET



(US$ MILLIONS)	June 30, 2019		December 31, 2018
Current
Raw materials and consumables ⁽¹⁾	$	840	$	605
Fuel products⁽²⁾	598		490
Work in progress	832		258
RTFO certificates ⁽³⁾	162		95
Finished goods and other ⁽⁴⁾	982		114
Carrying amount of inventories	$	3,414	$	1,562

____________________________________


⁽¹⁾	Raw materials and consumables is mainly composed of raw materials in our industrials segment.


⁽²⁾	Fuel products are traded in active markets and are purchased with a view to resell in the near future. As a result, stocks of fuel products are recorded at fair value based on quoted market prices.

⁽³⁾

RTFO certificates held for trading as at June 30, 2019 have a fair value of $4 million (December 31, 2018: $nil). There is no externally quoted marketplace for the valuation of RTFO certificates. In order to value these contracts, the partnership has adopted a pricing methodology combining both observable inputs based on market data and assumptions developed internally based on observable market activity.


⁽⁴⁾	Finished goods and other is mainly composed of finished goods inventory in our infrastructure services and industrials segments.