Analysis of Inventory
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Inventory Disclosure
NXP Semiconductors N.V., balance sheet: inventory
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventories, net |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
The analysis of the inventory components over the five-year period reveals several notable trends and fluctuations. The data presents the raw materials, work in process, finished goods, and the net inventories as key elements of inventory management.
- Raw Materials
- The value of raw materials showed a moderate increase from 62 million US dollars in 2017 to 74 million in 2018, followed by a decline to 52 million in 2019. Subsequently, there was a consistent upward trend, reaching 66 million in 2020 and sharply rising to the highest value of 107 million in 2021. This suggests an increased acquisition or stockpiling of raw materials towards the end of the period.
- Work in Process
- The work in process inventory maintained relatively stable figures with minor fluctuations. It started at 901 million dollars in 2017, peaked slightly at 949 million in 2018, then decreased moderately to 894 million in 2019 and further declined to 786 million in 2020. There was a minor recovery in 2021 to 846 million. Overall, this reflects some variability but no drastic changes in this intermediate inventory component.
- Finished Goods
- Finished goods inventory exhibited a downward trend in the initial years, decreasing from 273 million in 2017 to 178 million in 2020. However, in 2021, there was a rebound to 236 million. The initial decline may indicate an efficient turnover or reduced production output, while the recovery suggests an accumulation of finished products, possibly in response to anticipated demand or slower sales.
- Inventories, Net
- The net inventories followed a similar pattern to work in process and finished goods, beginning at 1,236 million dollars in 2017 and peaking slightly at 1,279 million in 2018. This figure then declined steadily to 1,192 million in 2019 and further to 1,030 million in 2020. In 2021, there was a noticeable increase to 1,189 million, reflective of the rise in raw materials and finished goods inventories. This indicates an overall contraction of inventory levels through 2020 with a recovery in 2021, suggesting adjustments in inventory strategy or operational demand.