INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory Combining Work In Process And Raw Materials Alternative Gross Abstract
Raw materials	$ 1,216	$ 1,193
Work in process	827	790
Finished products	2,761	2,669
Inventory, Gross	4,804	4,652
Reduction to LIFO cost basis	(38)	(39)
Inventories	$ 4,766	$ 4,613

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- Definition

Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.

+ References

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-Publisher FASB
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Gross amount, as of the balance sheet date, of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

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Amount by which inventory stated at last-in first-out (LIFO) is less than (in excess of) inventory stated at other inventory cost methods.

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Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.

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Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process.

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Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.

+ References

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