Inventory Accounting Policy
Inventories are stated at the lower of average cost or market.
Source: Bristol-Myers Squibb Co., Annual Report
Inventories are stated at the lower of average cost or market.
Source: Bristol-Myers Squibb Co., Annual Report
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Bristol-Myers Squibb Co., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Finished goods | |
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Work in process | |
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Raw and packaging materials | |
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Inventories | |
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Source: Based on data from Bristol-Myers Squibb Co. Annual Reports
| Item | Description | The company |
|---|---|---|
| Finished goods | Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. | Bristol-Myers Squibb Co.'s finished goods declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| Work in process | Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. | Bristol-Myers Squibb Co.'s work in process declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Raw and packaging materials | Carrying amount as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product. | Bristol-Myers Squibb Co.'s raw and packaging materials declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Bristol-Myers Squibb Co.'s inventories declined from 2009 to 2010 but then increased from 2010 to 2011 not reaching 2009 level. |
May 23, 2012