Note 8
Inventories, net

“Inventories, net” consisted of the following:

December 31, ($ in millions)

2017

2016

Raw materials

1,943

1,692

Work in process

1,595

1,326

Finished goods

1,563

1,369

Advances to suppliers

154

149

 

5,255

4,536

Advance payments consumed

(196)

(189)

Total

5,059

4,347

“Work in process” in the table above contains inventoried costs relating to long-term contracts of $176 million and $212 million at December 31, 2017 and 2016, respectively. “Advance payments consumed” in the table above relates to contractual advances received from customers on work in process.