Reebok 2015 Annual Report Download - page 209

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205
4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
Inventories by major classification are as follows:
INVENTORIES
€ in millions Dec. 31, 2015 Dec. 31, 2014
Gross
value
Allowance for
obsolescence
Net
value
Gross
value
Allowance for
obsolescence
Net
value
Merchandise and finished goods
on hand 2,269 (126) 2,143 1,898 (92) 1,806
Goods in transit 936 – 936 688 – 688
Raw materials 35 (2) 33 34 (2) 32
Work in progress 1 – 1 1 – 1
Inventories 3,241 (128) 3,113 2,620 (94) 2,526
Goods in transit mainly relate to shipments of finished goods and merchandise from suppliers in Asia to
subsidiaries in Europe, Asia, North America and Latin America.
Other current assets consist of the following:
OTHER CURRENTASSETS
€ in millions Dec. 31, 2015 Dec. 31, 2014
Prepaid expenses 218 194
Tax receivables other than income taxes 174 129
Sundry 106 103
Other current assets, gross 497 426
Less: accumulated allowances (8) (2)
Other current assets, net 489 425
Prepaid expenses relate mainly to promotion and service contracts as well as rents.
At December 31, 2015, assets held for sale mainly comprise land of adidas AG amounting to € 11 million
(2014: € 11 million), following a signed contract of sale, which is still awaiting certain conditions to be
fulfilled that are not in the area of influence of the adidas Group.
As of July 31, 2015, the Rockport operating segment was divested. The following assets and liabilities
which were reported as assets/liabilities held for sale since December 31, 2014 due to the concrete plans
to sell the operating segment are consequently derecognised from the consolidated statement of financial
position as of July 31, 2015. The Rockport operating segment is part of Other Businesses (discontinued
operations).
IMPACTOF DISPOSALON ITEMS IN THE STATEMENTOF FINANCIAL POSITION
€ in millions July 31, 2015
Cash and cash equivalents (1)
Current assets (138)
Non-current assets (123)
Liabilities 62
Net assets (201)
Consideration received in cash 165
Less: cash and cash equivalents disposed of (1)
Net cash inflow 164
09
INVENTORIES
10
OTHER CURRENT
ASSETS
11
ASSETS/LIABILITIES
AND DISPOSAL
GROUPS CLASSIFIED
AS HELD FOR SALE