Inventories (Tables)

6 Months Ended

Jun. 30, 2012

Inventories

Summary of Inventories

The following schedule presents a summary of inventories by major class:

	June 30, 2012								December 31, 2011
(Millions of dollars)	LIFO			Non- LIFO		Total			LIFO			Non- LIFO		Total
At the lower of cost, determined on the FIFO or weighted-average cost methods, or market:
Raw materials	$	169		$	366	$	535		$	163		$	334	$	497
Work in process	206			121		327			245			126		371
Finished goods	676			767		1,443			708			760		1,468
Supplies and other	—			310		310			—			300		300
	1,051			1,564		2,615			1,116			1,520		2,636
Excess of FIFO or weighted-average cost over LIFO cost	(247		)	—		(247		)	(280		)	—		(280		)
Total	$	804		$	1,564	$	2,368		$	836		$	1,520	$	2,356