Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

v3.5.0.2
INVENTORIES
 6 Months Ended
Jul. 03, 2016
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 7. INVENTORIES
Inventories are stated at the lower of cost or market. Inventories included the following:
 
In millions
 
July 3,
2016
 
December 31,
2015
Finished products
 
$
1,776

 
$
1,796

Work-in-process and raw materials
 
1,106

 
1,022

Inventories at FIFO cost
 
2,882

 
2,818

Excess of FIFO over LIFO
 
(104
)
 
(111
)
Total inventories
 
$
2,778

 
$
2,707