Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

Millions of dollars	September 30, 2020		December 31, 2019
Finished products and parts	$	1,452	$	1,865
Raw materials and supplies	1,061		1,147
Work in process	67		127
Total	$	2,580	$	3,139

During the nine months ended September 30, 2020, we recorded $505 million of impairment charges related to inventory. These charges primarily consisted of the disposal of excess inventory, including drilling fluids and other chemicals, and write-downs in which some of our inventory cost exceeded its market value.