Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

We classify our inventory into the following categories: (i) aftermarket and refurbished products, (ii) salvage and remanufactured products, and (iii) manufactured products.

Inventories consist of the following (in millions):

	September 30, 2024		December 31, 2023
Aftermarket and refurbished products	$	2,576	$	2,556
Salvage and remanufactured products	503		510
Manufactured products	53		55
Total inventories	$	3,132	$	3,121

Aftermarket and refurbished products and salvage and remanufactured products are primarily composed of finished goods. As of September 30, 2024, manufactured products inventory was composed of $26 million of raw materials, $7 million of work in process, and $20 million of finished goods. As of December 31, 2023, manufactured products inventory was composed of $26 million of raw materials, $7 million of work in process, and $22 million of finished goods.