v3.24.1.u1
Inventory
3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventory Inventory
Our inventory consisted of the following (in millions):
 March 31,
2024
December 31,
2023
Raw materials$5,584 $5,390 
Work in process2,507 2,016 
Finished goods (1)6,747 5,049 
Service parts1,195 1,171 
Total$16,033 $13,626 
(1)Finished goods inventory includes products-in-transit to fulfill customer orders, new vehicles available for sale, used vehicles and energy products available for sale.
We write-down inventory for any excess or obsolete inventory or when we believe that the net realizable value of inventory is less than the carrying value. During the three months ended March 31, 2024 and 2023, we recorded write-downs of $39 million in Cost of revenues in the consolidated statements of operations.