| December 31 (In millions) | 2006 | 2005 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GE | ||||||||||
| Raw materials and work in process |
|
|
||||||||
| Finished goods | 4,998 | 5,152 | ||||||||
| Unbilled shipments | 424 | 333 | ||||||||
| 11,969 | 11,012 | |||||||||
| Less revaluation to LIFO | (622 | ) | (697 | ) | ||||||
| 11,347 | 10,315 | |||||||||
| GECS | ||||||||||
| Finished goods | 54 | 159 | ||||||||
| Total |
|
|
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As of December 31, 2006, we were obligated to acquire certain raw materials at market prices through the year 2027 under various take-or-pay or similar arrangements. Annual minimum commitments under these arrangements are insignificant.
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