Inventories, net

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

Inventories are summarized as follows:

	2019	2018
Raw materials	52	74
Work in process	894	949
Finished goods	246	256
	1,192	1,279

The portion of finished goods stored at customer locations under consignment amounted to $41 million as of December 31, 2019 (2018: $52 million).

The amounts recorded above are net of an allowance for obsolescence of $114 million as of December 31, 2019 (2018: $111 million).