- Responsibility Statement
- Independent Auditor´s Report
- Consolidated Balance Sheet
- Consolidated Income Statement
- Consolidated Statement of Cash Flows
- Consolidated Statement of Recognized Income and Expense
- Notes
- Statement of Movements of Intangible and Tangible Assets and Financial Assets
- Shareholdings
8 Inventories
Inventories by major classification are as follows:
| Inventories | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| € in millions |
| Dec. 31, 2007 | Dec. 31, 2006 | |||||
| Gross value |
Allowance for obsoles- cence |
Net value |
Gross value |
Allowance for osoles- cence |
Net value |
|
| Finished goods and merchandise on hand |
1,187 | 75 | 1,112 | 1,208 | 86 | 1,122 |
| Goods in transit | 468 | — | 468 | 428 | — | 428 |
| Raw materials | 40 | 3 | 37 | 46 | 2 | 44 |
| Work in progress | 12 | — | 12 | 13 | — | 13 |
| Inventories, net | 1,707 | 78 | 1,629 | 1,695 | 88 | 1,607 |
Goods in transit mainly relate to shipments from suppliers in the Far East to subsidiaries in
Europe, Asia and the Americas. The allowance for obsolescence mainly relates to inventories on
hand which amounted to € 431 million and € 349 million as at December 31, 2007 and 2006,
respectively. 
see also Note 2
