17 – Inventories
Million € |
|
December 31, |
December 31, |
|---|---|---|---|
Raw materials and factory supplies |
|
3,107 |
2,944 |
Work-in-process, finished goods and merchandise |
|
6,808 |
6,680 |
Advance payments and services-in-process |
|
90 |
69 |
Inventories |
|
10,005 |
9,693 |
Work-in-process, finished goods and merchandise are combined into one item due to the production conditions in the chemical industry. Services-in-process primarily relate to services not invoiced as of the balance sheet date.
Cost of sales included inventories recognized as an expense amounting to €26,048 million in 2016, and €38,199 million in 2015.
A write-down of inventory was recognized in the amount of €43 million in 2016 and a write-up in the amount of €22 million in 2015. Changes in valuation allowances on inventory were largely due to lower net realizable value.
Of total inventories, €836 million was measured at net realizable value in 2016 and €770 million in 2015.