Raw materials, work in process and finished goods are stated at the lower of average cost or market. Cash flows related to the sale of inventories are reflected in net cash from operating activities in the Consolidated Statement of Cash Flows.
Source: International Business Machines Corp., Annual Report
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International Business Machines Corp., 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 and raw materials | |
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Inventories | |
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Source: Based on data from International Business Machines Corp. 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. | International Business Machines Corp.'s finished goods declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Work in process and raw materials | The aggregate carrying amount as of the balance sheet date of items held by the entity which are partially completed at the time of measurement and unprocessed items that will go through the production process and become part of the final product. Includes supplies used directly or indirectly in the manufacturing or production process. This element may be used when the reporting entity combines work in process and raw materials into an aggregate amount. | International Business Machines Corp.'s work in process and raw materials increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| 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). | International Business Machines Corp.'s inventories declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
May 23, 2012