Inventory Accounting Policy
Materials stored for use in investment projects and inventories for consumption and replacement are valued at the lower of weighted average cost and net realizable value.
When the cash flows associated with the purchase of inventory are effectively hedged, the corresponding gains and losses accumulated in equity become part of the cost of the inventories acquired.
Obsolete, defective or slow-moving inventories have been written down to estimated net realizable value. The recoverable amount of inventory is calculated based on inventory age and turnover.
Source: Telefonica S.A., Annual Report
Inventory Disclosure
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Telefonica S.A., Statement of Financial Position, Inventory
USD $ in millions, translated from EUR €
Source: Based on data from Telefonica S.A. Annual Reports
| Item |
Description |
The company |
| 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). |
Telefonica S.A.'s inventories increased from 2009 to 2010 and from 2010 to 2011.
|
