Inventories

12 Months Ended

Dec. 31, 2019

INVENTORIES

The following table summarizes our inventories (in millions):



	December 31,
	2019		2018
Raw materials	$	1,348	$	1,888
Work in process	170		235
Finished goods	549		507
Total	$	2,067	$	2,630

Reported as:
Inventories	$	922	$	814
Other long-term assets	1,145		1,816
Total	$	2,067	$	2,630

Amounts reported as other long-term assets primarily consisted of raw materials as of December 31, 2019 and 2018.

During the year ended December 31, 2019, we recorded inventory write-downs of $649 million, of which $547 million was related to slow moving and excess raw material and work in progress inventory primarily due to lower long-term demand for our hepatitis C virus (HCV) products. During the year ended December 31, 2018, we recorded inventory write-downs of $572 million, of which $440 million was related to excess raw materials primarily due to a sustained decrease in demand for Harvoni. Inventory write-downs recorded for the year ended December 31, 2017 were not material.