Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

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INVENTORIES
9 Months Ended
Sep. 30, 2012
INVENTORIES  
INVENTORIES

NOTE 9.  INVENTORIES

 

Inventories are stated at the lower of cost or market.  Inventories included the following:

 

 

 

September 30,

 

December 31,

 

In millions

 

2012

 

2011

 

Finished products

 

$

1,390

 

$

1,220

 

Work-in-process and raw materials

 

1,292

 

1,019

 

Inventories at FIFO cost

 

2,682

 

2,239

 

Excess of FIFO over LIFO

 

(112

)

(98

)

Total inventories

 

$

2,570

 

$

2,141