Inventories (Tables)

9 Months Ended

Sep. 30, 2012

Inventories

Summary of Inventories

The following schedule presents a summary of inventories by major class:

	September 30, 2012								December 31, 2011
(Millions of dollars)	LIFO			Non- LIFO		Total			LIFO			Non- LIFO		Total
At the lower of cost, determined on the FIFO or weighted-average cost methods, or market:
Raw materials	$	153		$	334	$	487		$	163		$	334	$	497
Work in process	204			140		344			245			126		371
Finished goods	667			803		1,470			708			760		1,468
Supplies and other	—			321		321			—			300		300
	1,024			1,598		2,622			1,116			1,520		2,636
Excess of FIFO or weighted-average cost over LIFO cost	(249		)	—		(249		)	(280		)	—		(280		)
Total	$	775		$	1,598	$	2,373		$	836		$	1,520	$	2,356