Note 8 Inventories, net

“Inventories, net” consisted of the following:

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December 31, ($ in millions)

2012

2011

Raw materials

2,427

2,345

Work in process

2,075

1,796

Finished goods

1,741

1,628

Advances to suppliers

246

253

 

6,489

6,022

Advance payments consumed

(307)

(285)

Total

6,182

5,737

“Work in process” in the table above contains inventoried costs relating to long-term contracts of $363 million and $267 million at December 31, 2012 and 2011, respectively. “Advance payments consumed” in the table above relates to contractual advances received from customers on work in process.