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Abbott Laboratories (ABT)

Analysis of Inventory

Advanced level

Accounting Policy on Inventory

Inventories are stated at the lower of cost (first-in, first-out basis) or net realizable value. Cost includes material and conversion costs.

Source: 10-K (filing date: 2019-02-22).

Inventory Disclosure

Abbott Laboratories, balance sheet: inventory

US$ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Finished products 2,407  2,339  1,624  1,744  1,807 
Work in process 499  472  294  316  278 
Materials 890  790  516  539  558 
Inventories 3,796  3,601  2,434  2,599  2,643 

Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-27).

Item Description The company
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Abbott Laboratories’s inventories increased from 2016 to 2017 and from 2017 to 2018.