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Annual Report

19 Inventories

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€ million

 

Dec. 31, 2010

 

Dec. 31, 2009

Raw materials, consumables and supplies

 

2,494

 

2,030

Work in progress

 

1,837

 

1,590

Finished goods and purchased merchandise

 

10,819

 

8,842

Current leased assets

 

2,470

 

1,575

Payments on account

 

11

 

86

 

 

17,631

 

14,124

Of the total inventories, €1,204 million (previous year: €2,238 million) is recognized at net realizable value. At the same time as the relevant revenue was recognized, inventories in the amount of €99,757 million were included in cost of sales (previous year: €85,303 million). Valuation allowances recognized as expenses in the reporting period amounted to €185 million (previous year: €354 million). Vehicles amounting to €180 million (previous year: €142 million) were assigned as collateral for partial retirement obligations.

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