General
Information
Last Update:
March 1, 2012
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15 – Inventories

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Million €

2011

2010

Raw materials and factory supplies

2,922

2,427

Work-in-process, finished goods and merchandise

7,034

6,171

Advance payments and services-in-process

103

90

 

10,059

8,688

Work-in-process and finished goods and merchandise are combined into one item due to production conditions in the chemical industry. Services-in-process relate primarily to services not invoiced on the balance sheet date.

Inventories are valued using the weighted average cost method. Impairments are reversed if the reasons for the impairments no longer apply.

Write-downs on inventories amounted to €8 million in 2011 and €29 million in 2010. The valuation adjustment rates for the use of technical materials were reduced based on the experience of recent years. This resulted in the reversal of write-downs amounting to €36 million in 2011.

Of the total inventory, €2,154 million was valued at net realizable value in 2011 (2010: €1,520 million).

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