Note 9. Inventories
| December 31, | |||||||
| 2013 | 2012 | ||||||
| Raw materials | $ | 1,121 | $ | 1,152 | |||
| Work in process | 841 | 859 | |||||
| Finished products | 2,497 | 2,421 | |||||
| 4,459 | 4,432 | ||||||
| Reduction to LIFO cost basis | (166) | (197) | |||||
| $ | 4,293 | $ | 4,235 | ||||
Inventories valued at LIFO amounted to $405 and $325 million at December 31, 2013 and 2012, respectively. Had such LIFO inventories been valued at current costs, their carrying values would have been approximately $166 and $197 million higher at December 31, 2013 and 2012, respectively.