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Analysis of Inventory
Inventory Accounting Policy
Broadcom values the inventory at the lower of the actual cost of the inventory or the current estimated market value of the inventory, with cost being determined under the first-in, first-out method. Broadcom records a provision for excess and obsolete inventory based primarily on the forecast of product demand and production requirements. The excess and obsolete balance determined by this analysis becomes the basis for Broadcom's excess and obsolete inventory charge and the written-down value of the inventory becomes its new cost basis.
Source: 10-K (filing date: 2017-12-21).
Broadcom Inc., Statement of Financial Position, Inventory
USD $ in millions
|Oct 29, 2017||Oct 30, 2016||Nov 1, 2015||Nov 2, 2014||Nov 3, 2013||Oct 28, 2012|
Based on: 10-K (filing date: 2017-12-21), 10-K (filing date: 2016-12-23), 10-K (filing date: 2015-12-17), 10-K (filing date: 2014-12-29), 10-K (filing date: 2013-12-20), 10-K (filing date: 2012-12-17).
|Finished goods||Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.||Broadcom Inc.'s finished goods increased from 2015 to 2016 and from 2016 to 2017.|
|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.||Broadcom Inc.'s work-in-process increased from 2015 to 2016 and from 2016 to 2017.|
|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.||Broadcom Inc.'s raw materials increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.|
|Inventory||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).||Broadcom Inc.'s inventory increased from 2015 to 2016 and from 2016 to 2017.|