LyondellBasell Industries NV
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Inventories
- Inventories
Inventories consisted of the following components at December 31:
| Millions of dollars | 2024 | 2023 |
|---|---|---|
| Finished goods | $3,014 | $3,134 |
| Work-in-process | 145 | 182 |
| Raw materials and supplies | 1,499 | 1,449 |
| Total inventories | $4,658 | $4,765 |
At December 31, 2024 and 2023, approximately 75% and 78%, respectively, of our inventories were valued using the last in, first out (“LIFO”) method and the remaining inventories, consisting primarily of materials and supplies, were valued at the moving average cost method. The excess of the estimated net realizable value of our inventories over LIFO cost was approximately $1,310 million and $1,478 million at December 31, 2024 and 2023, respectively.
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