Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.19.3.a.u2
INVENTORIES
 12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 7. INVENTORIES
Inventories are stated at the lower of cost or market. Inventories included the following:
 
 
December 31,
In millions
 
2019
 
2018
Finished products
 
$
2,214

 
$
2,405

Work-in-process and raw materials
 
1,395

 
1,487

Inventories at FIFO cost
 
3,609

 
3,892

Excess of FIFO over LIFO
 
(123
)
 
(133
)
Total inventories
 
$
3,486

 
$
3,759