Annual Report 2008
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Inventories

Auditor report 		Notes
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Inventories are summarized as follows:

 
 
2007
2008
 
 
 
Raw materials and supplies
908
976
Work in process
391
530
Finished goods
1,968
2,066
Advance payments on work in process
(121)
(201)
 
3,146
3,371
 

The amounts recorded above are net of allowances for obsolescence.

As of December 31, 2008, the carrying amount of inventories carried at fair value less cost-to-sell is EUR 257 million (2007: EUR 190 million).

As discussed under Significant accounting policies, Reclassification and revisions, the previously reported inventories balance as of December 31, 2007 was revised downwards by EUR 57 million to reflect immaterial adjustments of intercompany profit eliminations on inventories.

Previous - US GAAP financial statements: Significant accounting policies Next - IFRS financial statements: Introduction
This is an interactive electronic version of the Philips Annual Report 2008 and also contains certain information in summarized form. The contents of this version are qualified in their entirety by reference to the printed version of the Philips Annual Report 2008. The printed version is available as a PDF file on this website. Information about: forward-looking statements, third-party market share data, fair value information, US GAAP basis of presentation, use of non-US GAAP information, statutory financial statements and management report, revision and reclassifications and analysis of 2007 compared to 2006.
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Notes to the US GAAP financial statements
Notes to the IFRS financial statements
Notes to the Company financial statements
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