Inventories

Inventories are summarized as follows:

Philips Group
Inventories in millions of EUR
2013 - 2014
 
2013
2014
Raw materials and supplies
1,029
962
Work in process
375
481
Finished goods
1,836
1,871
Inventories
3,240
3,314

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The balance as per December 31, 2014 excludes EUR 248 million of inventories associated with Lumileds and Automotive businesses and classified as Assets held for sale. For more details, please refer to note (3) Discontinued operations and other assets classified as held for sale.

The write-down of inventories to net realizable value amounted in 2014 to EUR 217 million (2013: EUR 178 million). The write-down is included in cost of sales.

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