Inventories (Notes)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

All inventories are stated at the lower of cost or net realizable value. Cost of our inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. Inventories at December 31 were as follows (in millions):

	2023		2024
Raw materials, work-in-process, and supplies	$	6,196	$	5,394
Finished products	9,455		9,557
Total inventories	$	15,651	$	14,951