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Inventories
 12 Months Ended
Dec. 31, 2017
Inventories  
Inventories

17. INVENTORIES

                                                                                                                                                                                    

($ millions)

 

Dec 31
2017

 

Dec 31
2016

 

 

Crude oil

 

1 203

 

1 110

 

 

Refined products

 

1 268

 

1 193

 

 

Materials, supplies and merchandise

 
664

 
680

 

 

Energy trading commodity inventories

 
333

 
515

 

 

Reclassified to assets held for sale (notes 36 and 37)

 

—

 
(258

)

 

 

 

3 468

 

3 240

 

 

During 2017, product inventories of $11.6 billion (2016 – $10.1 billion) were recorded as an expense. There was no write-down of crude oil (2016 – $32 million) and no write-down of materials, supplies and merchandise in 2017 (2016 – $26 million). Energy trading commodity inventories are measured at fair value less costs of disposal based on Level 1 and Level 2 fair value inputs.