Note 3

Inventories

The following table is a summary of inventories at the end of each year:



	December 31,
(Millions of dollars)	2015		2014
At lower of LIFO cost or market:
Live hogs and materials	$	210	$	209
Fresh pork and materials		26		29
		236		238
LIFO adjustment		(28)		(37)
Total inventories at lower of LIFO cost or market		208		201
At lower of FIFO cost or market:
Grains, oilseeds and other commodities		330		320
Sugar produced and in process		52		49
Other		61		57
Total inventories at lower of FIFO cost or market		443		426
Grain, flour and feed at lower of weighted average cost or market		88		109
Total inventories	$	739	$	736

The use of the LIFO method increased 2015, 2014, and 2013 net earnings by $5 million ($4.39 per common share), $16 million ($13.29 per common share), and by $17 million ($14.56 per common share), respectively. If the FIFO method had been used for certain inventories of the Pork segment, inventories would have been higher by $28 million and $37 million as of December 31, 2015 and 2014, respectively.