Chrysler 2009 Annual Report Download - page 182

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At 31 December 2009 minimum lease payments from non-cancellable operating leases amount to฀€200 million (€241 million at 31 December 2008) and
fall due as follows:
(€ million) At 31 December 2009 At 31 December 2008
Within one year 90 93
Between one and five years 106 136
Beyond five years 4 12
Total Minimum lease payments 200 241
Inventories18.
(€ million) At 31 December 2009 At 31 December 2008
Raw materials, supplies and finished goods 8,669 11,227
Gross amount due from customers for contract works 79 211
Total Inventories 8,748 11,438
At 31 December 2009, Inventories include assets sold with a buy-back commitment by Fiat Group Automobiles and assets in the Trucks and Commercial
Vehicles and Agricultural and Construction Equipment Sectors which are no longer subject to operating lease arrangements or buy-back commitments and are
held for sale for฀€861 million (€985 million at 31 December 2008). Excluding this item, inventories decreased by฀€2,566 million in 2009 as the consequence of
the considerable steps taken to reduce stocks.
At 31 December 2009, Inventories include inventories measured at their net realisable value (estimated selling price less the estimated costs of completion and
the estimated costs necessary to make the sale) amounting to฀€2,958 million (€3,260 million at 31 December 2008).
The amount of inventory write-downs recognised as an expense during 2009 is฀€664 million (€474 million in 2008). Amounts recognised as income from the
reversal of write-downs on items sold during the year were not significant.
There were no inventories pledged as security at 31 December 2009 and 2008.
The majority of amount due from customers for contract work relates to the Production Systems Sector and can be analysed as follows:
(€ million) At 31 December 2009 At 31 December 2008
Aggregate amount of costs incurred and recognised profits (less recognised losses) to date 1,056 1,462
Less: Progress billings (1,058) (1,332)
Construction contracts, net of advances on contract work (2) 130
Gross amount due from customers for contract work as an asset 79 211
Less: Gross amount due to customers for contract work as a liability included in Other current liabilities (Note 29) (81) (81)
Construction contracts, net of advances on contract work (2) 130
At 31 December 2009 and 2008, the amount of retentions by customers on contract work in progress was not significant.