[24] Inventories
The reported inventories break down as follows:
in € million |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
Materials and supplies |
465.8 |
512.2 |
Work in progress |
318.1 |
340.1 |
Finished goods and merchandise |
959.6 |
890.3 |
Advances paid |
73.7 |
62.0 |
Total inventories |
1,817.1 |
1,804.6 |
In 2023, impairment losses of €50.0 million were recognized on inventories (2022: €50.2 million). Of the impairment losses recognized in 2022, €10.9 million had related to inventories of the Russian subsidiaries in the Industrial Trucks & Services segment that are to be sold (further information can be found in note [27]). Reversals of impairment losses were recognized in an amount of €11.1 million (2022: €13.3 million) because the reasons for the impairment losses no longer existed.