Inventories

3 Months Ended

Mar. 31, 2021

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories, net of reserves of $384 million and $421 million as of March 31, 2021 and December 31, 2020, respectively, are comprised of the following:

	March 31, 2021		December 31, 2020
Finished goods	$	2,308	$	2,337
Work in process and raw materials	1,873		2,084
Total inventories, net	$	4,181	$	4,421

We recorded inventory impairments of $160 million during the three months ended March 31, 2020, predominantly in our Oilfield Services segment as a result of certain restructuring activities initiated by the Company. Charges for inventory impairments are predominantly reported in the "Cost of goods sold" caption of the condensed consolidated statements of income (loss).