Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

	December 31,
Millions of dollars	2024		2023
Finished products and parts	$	1,956	$	2,069
Raw materials and supplies	952		1,021
Work in process	132		136
Total inventories	$	3,040	$	3,226

All amounts in the table above are reported net of obsolescence reserves of $62 million at December 31, 2024 and $81 million at December 31, 2023.

During the years ended December 31, 2024 and 2023, there were no impairments charges related to inventory.