Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

3.

INVENTORIES

Inventories consisted of the following (in millions):

	March 31, 2019		December 31, 2018
Refinery feedstocks	$	2,338	$	2,265
Refined petroleum products and blendstocks	3,572		3,653
Ethanol feedstocks and products	328		298
Renewable diesel feedstocks and products	50		52
Materials and supplies	266		264
Inventories	$	6,554	$	6,532

As of March 31, 2019 and December 31, 2018, the replacement cost (market value) of last-in, first-out (LIFO) inventories exceeded their LIFO carrying amounts by $3.5 billion and $1.5 billion, respectively. Our non-LIFO inventories accounted for $1.1 billion of our total inventories as of March 31, 2019 and December 31, 2018.