Note 8 Inventories, net

“Inventories, net” consisted of the following:

December 31, ($ in millions)

2014

2013

Raw materials

2,105

2,403

Work in process

1,761

1,893

Finished goods

1,572

1,834

Advances to suppliers

253

246

 

5,691

6,376

Advance payments consumed

(315)

(372)

Total

5,376

6,004

“Work in process” in the table above contains inventoried costs relating to long-term contracts of $338 million and $358 million at December 31, 2014 and 2013, respectively. “Advance payments consumed” in the table above relates to contractual advances received from customers on work in process.