Note 15: Inventories

Of the total carrying value of inventories at year-end 2019, €36 million is measured at net realizable value (2018: €45 million). In 2019, €70 million was recognized in the statement of income for the write-down of inventories (2018: €79 million), while €22 million of write-downs were reversed (2018: €18 million). There are no inventories subject to retention of title clauses.