Note 16: Inventories
In € millions, at December 31 |
2021 |
2022 |
|---|---|---|
Raw materials and supplies |
611 |
676 |
Work in progress |
94 |
104 |
Finished products and goods for resale |
945 |
1,063 |
Total |
1,650 |
1,843 |
The total carrying value of inventories as per December 31, 2022 has increased compared to December 31, 2021, mainly as a result of significant increases in raw material prices throughout 2022.
Of the total carrying value of inventories at year-end 2022, €16 million is measured at net realizable value (2021: €18 million). In 2022, €86 million was recognized in the statement of income for the write-down of inventories (2021: €67 million), while €30 million of write-downs were reversed (2021: €32 million). There are no inventories subject to retention of title clauses.