Mercedes 2002 Annual Report Download - page 121

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14. Property, Plant and Equipment, net
Information with respect to changes in the Group’s property,
plant and equipment is presented in the Consolidated Fixed
Assets Schedule included herein.
Property, plant and equipment includes buildings, technical
equipment and other equipment capitalized under capital
lease agreements of 1152 million (2001: 1148 million).
Depreciation expense and impairment charges on assets
under capital lease arrangements were 115 million (2001:
113 million; 2000: 1188 million).
15. Equipment on Operating Leases, net
Information with respect to changes in the Group’s equipment
on operating leases is presented in the Consolidated Fixed
Assets Schedule included herein. Of the total equipment on
operating leases, 127,361 million represent automobiles and
commercial vehicles (2001: 135,015 million).
Noncancellable future lease payments due from customers
for equipment on operating leases at December 31, 2002 are
as follows:
16. Inventories
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 1724
million (2001: 11,102 million). For the years ended December
31, 2002, 2001 and 2000, inventory quantities were reduced,
which resulted in a liquidation of LIFO inventory carried at
lower costs which prevailed in prior years. The effect of the
liquidation was to decrease cost of sales by 142 million, 129
million and 114 million in 2002, 2001and 2000, respectively.
17. Trade Receivables
As of December 31, 2002, 1110 million of the trade receiv-
ables mature after more than one year (2001: 1136 million).
18. Receivables from Financial Services
As of December 31, 2002, 134,472 million of the financing
receivables mature after more than one year (2001: 135,551
million).
(in millions of 3)
2003
2004
2005
2006
2007
thereafter
6,699
3,745
2,217
628
204
172
13,635
(in millions of 3)
Raw materials and manufacturing supplies
Work-in-process
thereof relating to long-term contracts and
programs in process
Finished goods, parts and products held for
resale
Advance payments to suppliers
Less: Advance payments received thereof
relating to long-term contracts and programs
in process 1127 (2001: 1110)
At December 31,
1,900
2,693
11,567
63
16,223
(581)
15,642
2002 2001
2,251
3,038
11,904
97
17,290
(536)
16,754
(in millions of 3)
At December 31,
6,879
47
6,926
(629)
6,297
2002 2001
7,052
24
7,076
(646)
6,430
Receivables from sales of goods and
services
Long-term contracts and programs, unbilled,
net of advance payments received
Allowance for doubtful accounts
Notes to Consolidated Balance Sheets |115
(in millions of 3)
At December 31,
41,386
16,423
57,809
250
(5,590)
1,178
53,647
(1,559)
52,088
2002 2001
38,882
17,400
56,282
248
(6,833)
1,417
51,114
(1,602)
49,512
Receivables from:
Sales financing
Finance leases
Initial direct costs
Unearned income
Unguaranteed residual value of leased assets
Allowance for doubtful accounts