Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

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INVENTORIES
6 Months Ended
Jun. 30, 2022
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 8. INVENTORIES
Inventories are stated at the lower of cost or net realizable value. Inventories included the following:
 
In millions June 30,
2022
December 31,
2021
Finished products $ 2,635  $ 2,538 
Work-in-process and raw materials 2,349  2,009 
Inventories at FIFO cost 4,984  4,547 
Excess of FIFO over LIFO (219) (192)
Total inventories $ 4,765  $ 4,355