Chrysler 2015 Annual Report Download - page 184

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184 2015 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
14. Inventories
At December 31,
2015 2014
(€ million)
Raw materials, supplies and finished goods 11,190 10,294
Gross amount due from customers for contract work 161 155
Total Inventories 11,351 10,449
Inventories at December 31, 2015 increased by €902 million from December 31, 2014 as a result of a higher level of
finished products to support increased demand in the NAFTA and EMEA segments in addition to positive translation
differences primarily related to the strengthening of the U.S.$ against the Euro.
The amount of inventory write-downs recognized within Cost of sales during the years ended December 31, 2015 and
2014 was €653 million and €436 million, respectively.
The amount due from customers for contract work relates to the design and production of industrial automation
systems and related products for the automotive sector at December31, 2015 and 2014 was as follows:
At December 31,
2015 2014
(€ million)
Aggregate amount of costs incurred and recognized profits (less recognized losses) to date 2,097 1,817
Less: Progress billings (2,163) (1,914)
Construction contracts, net of advances on contract work (66) (97)
Gross amount due from customers for contract work as an asset 161 155
Less: Gross amount due to customers for contract work as a liability included in Other
current liabilities (Note 24) (227) (252)
Construction contracts, net of advances on contract work (66) (97)