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Inventories

3 Months Ended

Mar. 29, 2015



The following table provides the components of Inventories:
(MILLIONS OF DOLLARS)	March 29, 2015		December 31, 2014
Finished goods	$	1,898	$	1,905
Work-in-process	3,414		3,248
Raw materials and supplies	475		510
Inventories	$	5,786	$	5,663
Noncurrent inventories not included above^(a)	$	467	$	425


^(a)	Included in Other noncurrent assets. There are no recoverability issues associated with these amounts.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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