Mercedes 1998 Annual Report Download - page 90

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Raw materials and manufacturing supplies 2,278 1,911
Work in process 4,568 4,414
thereof relating to long-term contracts
and programs in process € 919
(1997: € 705)
Finished goods, parts and products
held for resale 7,631 6,789
Advance payments to suppliers 312 337
14,789 13,451
Less: Advance payments received (2,993) (2,554)
thereof relating to long-term contracts
and programs in process € 578
(1997: € 769)
11,796 10,897
12. INVENTORIES
At December 31,
Certain of the Group’s U.S. inventories are valued using the
LIFO method. If the FIFO method had been used instead of the
LIFO method, inventories would have been higher by € 549
(1997: € 547).
13. TRADE RECEIVABLES
19971998
At December 31,
Receivables from sales of goods
and services 8,020 7,841
Long-term contracts and programs,
unbilled, net of advance payments received 442 243
8,462 8,084
Allowance for doubtful accounts (857) (819)
7,605 7,265
As of December 31, 1998, € 399 of the trade receivables
mature after more than one year (1997: € 440).
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
86
1998 1997
11. EQUIPMENT ON OPERATING LEASES, NET
Information with respect to changes to the Group’s equipment
on operating leases is presented in the Consolidated Fixed
Assets Schedule included herein. Of the total equipment on
operating leases, € 14,078 represent automobiles and
commercial vehicles (1997: € 10,496).
Noncancellable future lease payments due from customers for
equipment on operating leases at December 31, 1998 are as
follows:
1999 3,166
2000 1,933
2001 952
2002 286
2003 98
thereafter 151
6,586