CONOCOPHILLIPS | 2013 | FY | 3


Note 5—Inventories    
     
Inventories at December 31 were:    
     
 Millions of Dollars
  2013 2012
     
Crude oil and natural gas$ 452  244
Materials, supplies and other  742  721
 $ 1,194  965

Inventories valued on the LIFO basis totaled $343 million and $147 million at December 31, 2013 and 2012, respectively. The estimated excess of current replacement cost over LIFO cost of inventories was approximately $160 million at December 31, 2013, and $200 million at December 31, 2012. In 2013, there were no liquidations of LIFO inventory values impacting net income from continuing operations.

 

 


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