Inventories

12 Months Ended

Dec. 31, 2021

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories, net of reserves of $374 million and $421 million in 2021 and 2020, respectively, are comprised of the following at December 31:

	2021		2020
Finished goods	$	2,228	$	2,337
Work in process and raw materials	1,751		2,084
Total inventories, net	$	3,979	$	4,421

There were no inventory impairments during 2021. For the year ended December 31, 2020, we recorded inventory impairments of $246 million. Inventory impairments in 2020 are 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 consolidated statements of income (loss).