Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)	June 30, 2023		December 31, 2022
Finished goods	$	1,841	$	1,841
Raw materials and work in process	7,453		7,063
Supplies	269		238
Total	9,563		9,142
Decrease to LIFO cost	(413)		(293)
	$	9,150	$	8,849
Recognized as:
Inventories	$	5,930	$	5,911
Other Assets	3,220		2,938

Amounts recognized as Other Assets are comprised almost entirely of raw materials and work in process inventories. At June 30, 2023 and December 31, 2022, these amounts included $2.6 billion and $2.4 billion, respectively, of inventories not expected to be sold within one year. In addition, these amounts included $663 million and $516 million at June 30, 2023 and December 31, 2022, respectively, of inventories produced in preparation for product launches.