Annual report [Section 13 and 15(d), not S-K Item 405]

INVENTORIES

v3.25.4
INVENTORIES
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 6. INVENTORIES
Inventories are stated at the lower of cost or net realizable value. Inventories included the following:
  December 31,
In millions 2025 2024
Finished products $ 3,091  $ 2,875 
Work-in-process and raw materials 2,987  3,086 
Inventories at FIFO cost 6,078  5,961 
Excess of FIFO over LIFO (256) (219)
Inventories $ 5,822  $ 5,742 
We wrote down $119 million and $107 million of inventory in our Accelera segment in 2025 and 2024, respectively, mostly in work-in-process and raw materials.