INVENTORY



AS AT DEC. 31 (MILLIONS)	2017		2016
Residential properties under development	$	2,245	$	2,215
Land held for development	1,922		1,609
Completed residential properties	917		952
Industrial products and other	1,227		573
Total	$	6,311	$	5,349

The current and non-current balances of inventory are as follows:



AS AT DEC. 31 (MILLIONS)	2017		2016
Current	$	3,585	$	2,987
Non-current	2,726		2,362
Total	$	6,311	$	5,349

During the year ended December 31, 2017, the company recognized $15.2 billion (2016 – $4.7 billion) of inventory relating to cost of goods sold and $37 million (2016 – $85 million) relating to impairments of inventory as expenses. The carrying amount of inventory pledged as collateral at December 31, 2017 was $2.9 billion (2016 – $2.4 billion).