Inventories

Inventories at Lower of Cost or Realizable Value. The table below presents the components of inventories at the lower of cost (first-in, first-out or average cost) or realizable value. The Company's inventories at December 31, 2017 were comprised primarily of amounts related to standard products. In addition, the Company classified inventories related to contracts for complex aerospace and electronic equipment and engineering and technical services according to the customers' specifications as inventoried contract costs, which was a component of contracts in process on the consolidated balance sheet at December 31, 2017. See Note 5 for additional information. In accordance with ASC 606, all work in process relating to goods that customers do not currently control are classified within inventories on the Company's consolidated balance sheet at December 31, 2018, without regard to whether the goods are standard or customized.



	December 31,
	2018		2017
	(in millions)
Raw materials, components and sub-assemblies	$	351	$	184
Work in process	330		98
Finished goods	198		107
Total	$	879	$	389

Inventories at December 31, 2018 included G&A costs of $31 million. G&A costs incurred and recorded in inventories totaled $1,181 million during the year ended December 31, 2018, and G&A costs charged to expense from inventories totaled $1,221 million during the year ended December 31, 2018. See Note 5 for information on G&A costs included in contracts in process for the years ended December 31, 2017 and 2016.