08 » Inventories
Inventories by major classification are as follows:
|
|
Dec. 31, 2022 |
|
Dec. 31, 2021 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Gross value |
|
Allowance for obsolescence |
|
Net value |
|
Gross value |
|
Allowance for obsolescence |
|
Net value |
Merchandise and finished goods on hand |
|
4,522 |
|
(225) |
|
4,297 |
|
2,596 |
|
(149) |
|
2,446 |
Goods in transit |
|
1,667 |
|
– |
|
1,667 |
|
1,556 |
|
– |
|
1,556 |
Raw materials |
|
9 |
|
– |
|
9 |
|
7 |
|
– |
|
7 |
Work in progress |
|
– |
|
– |
|
– |
|
0 |
|
– |
|
0 |
Inventories |
|
6,198 |
|
(225) |
|
5,973 |
|
4,159 |
|
(149) |
|
4,009 |
Goods in transit mainly relate to shipments of finished goods and merchandise from suppliers in Asia to subsidiaries in Europe, North America, Asia, and Latin America.
Expenses from write-down on inventories amounted to € 137 million in 2022 (2021: € 32 million).
As of December 31, 2022, inventories include Yeezy products in the amount of approximately € 0.4 billion. Based on management’s assessment, the net realizable value of these products is above the recognized cost, so that these costs are assessed to be recoverable as of the balance sheet date.
