Annual report pursuant to Section 13 and 15(d)

INVENTORIES

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INVENTORIES
 12 Months Ended
Dec. 31, 2024
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 2024 2023
Finished products $ 2,875  $ 2,770 
Work-in-process and raw materials 3,086  3,156 
Inventories at FIFO cost 5,961  5,926 
Excess of FIFO over LIFO (219) (249)
Inventories $ 5,742  $ 5,677 
In the fourth quarter of 2024, we wrote-off $107 million of inventory in our Accelera segment, mostly in work-in-process and raw materials. See NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information.