Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

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INVENTORIES
3 Months Ended
Mar. 31, 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 March 31,
2022
December 31,
2021
Finished products $ 2,767  $ 2,538 
Work-in-process and raw materials 2,028  2,009 
Inventories at FIFO cost 4,795  4,547 
Excess of FIFO over LIFO (209) (192)
Total inventories $ 4,586  $ 4,355