20 Inventories
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€ million |
Dec. 31, 2013 |
Dec. 31, 2012 | ||
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Raw materials, consumables and supplies |
3,716 |
3,506 |
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Work in progress |
3,096 |
3,504 |
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Finished goods and purchased merchandise |
18,284 |
18,015 |
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Current leasing and rental assets |
3,418 |
3,477 |
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Payments on account |
140 |
172 |
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28,653 |
28,674 |
Of the total inventories, €4,211 million (previous year: €3,576 million) is recognized at net realizable value. At the same time as the relevant revenue was recognized, inventories in the amount of €152,290 million were included in cost of sales (previous year: €150,121 million). Valuation allowances recognized as expenses in the reporting period amounted to €911 million (previous year: €748 million). Vehicles amounting to €220 million (previous year: €260 million) were assigned as collateral for partial retirement obligations.