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Inventory

9 Months Ended

Sep. 07, 2012

6. INVENTORY

The following table shows the composition of our inventory balances:


*($ in millions)*	At September 7, 2012		At December 30, 2011
Finished goods	$	440	$	448
Work-in-progress		164		215
Land and infrastructure		287		290

Real estate inventory		891		953
Operating supplies and retail inventory		6		6

	$	897	$	959

We value vacation ownership and residential products at the lower of cost or fair market value less costs to sell, in accordance with applicable accounting guidance, and we record operating supplies at the lower of cost (using the first-in, first-out method) or market value.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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