Audi 2011 Annual Report Download - page 223

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20 Inventories
EUR million Dec. 31, 2011 Dec. 31, 2010
Raw materials and supplies 433 353
Work in progress 463 368
Finished goods and merchandise 2,832 2,118
Current leased assets 650 515
Total 4,377 3,354
Inventories amounting to EUR 32,697 (26,866) million were recorded as cost of sales at the
same time that the revenue from them was realized.
EUR 1,008 (818) million of the total inventories was capitalized at the net realizable value.
The impairment resulting from the measurement of inventories on the basis of sales markets
amounted to EUR 65 (63) million.
No reversal of write-downs was performed in the fiscal year.
Of the finished goods inventory, a portion of the company car fleet valued at EUR 227 (180) million
has been pledged as collateral for commitments toward employees, in particular under the partial
early retirement block model. The other reported inventories are not subject to any significant
restrictions on ownership or disposal.
Leased vehicles with an operating lease term of up to one year were reported under inventories
in the amount of EUR 650 (515) million. In the 2012 fiscal year, payments in the amount of
EUR 43 million are expected from irrevocable leasing relationships.
21 Trade receivables
EUR million Dec. 31, 2011 Dec. 31, 2010
Trade receivables from
third parties 1,421 1,155
affiliated companies 1,060 755
associated companies and participating interests 529 189
Total 3,009 2,099
The carrying amounts of the trade receivables correspond to the fair values due to their short-
term nature.
All receivables will be realized within the next twelve months. Impairment losses on trade receiv-
ables are detailed under Note 34.2 “Credit risks.”
22 Effective income tax claims
Entitlements to income tax rebates, predominantly for foreign Group companies, are reported
under this item.