Note 8 Inventories, net

“Inventories, net” consisted of the following:

December 31, ($ in millions)

2015

2014

Raw materials

1,793

2,105

Work in process

1,574

1,761

Finished goods

1,442

1,572

Advances to suppliers

188

253

 

4,997

5,691

Advance payments consumed

(240)

(315)

Total

4,757

5,376

“Work in process” in the table above contains inventoried costs relating to long-term contracts of $411 million and $338 million at December 31, 2015 and 2014, respectively. “Advance payments consumed” in the table above relates to contractual advances received from customers on work in process.