07 » Inventories
Inventories by major classification are as follows:
|
|
Dec. 31, 2023 |
|
Dec. 31, 2022 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Gross value |
|
Allowance for obsolescence |
|
Net value |
|
Gross value |
|
Allowance for obsolescence |
|
Net value |
Merchandise and finished goods on hand |
|
3,611 |
|
(317) |
|
3,294 |
|
4,522 |
|
(225) |
|
4,297 |
Goods in transit |
|
1,222 |
|
– |
|
1,222 |
|
1,667 |
|
– |
|
1,667 |
Raw materials |
|
8 |
|
– |
|
8 |
|
9 |
|
– |
|
9 |
Work in progress |
|
0 |
|
– |
|
0 |
|
– |
|
– |
|
– |
Inventories |
|
4,841 |
|
(317) |
|
4,525 |
|
6,198 |
|
(225) |
|
5,973 |
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 € 145 million in 2023 (2022: € 137 million).
As of December 31, 2023, inventories include Yeezy products in the amount of approximately € 250 million. This includes impairment losses of € 12 million in 2023, which were recognized based on management estimates.