Inventory Accounting Policy
Inventories are measured at the lower of cost or net realizable value. Cost is calculated using the weighted average cost method or the first-in, first-out method, depending on the nature of the inventory.
The cost of finished goods inventories includes costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
Source: Sanofi, Annual Report
Inventory Disclosure
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Sanofi, Statement of Financial Position, Inventory
USD $ in millions, translated from EUR €
Source: Based on data from Sanofi Annual Reports
| Item |
Description |
The company |
| Raw 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. |
Sanofi's raw materials increased from 2009 to 2010 and 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. |
Sanofi's work in process increased from 2009 to 2010 and from 2010 to 2011.
|
| Finished goods |
Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. |
Sanofi's finished goods 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). |
Sanofi's inventories increased from 2009 to 2010 and from 2010 to 2011.
|
