Note 8 Inventories, net

“Inventories, net” consisted of the following:

December 31, ($ in millions)

2011

2010

Raw materials

2,345

1,988

Work in process

1,796

1,744

Finished goods

1,628

1,226

Advances to suppliers

253

219

 

6,022

5,177

Advance payments consumed

(285)

(299)

Total

5,737

4,878

“Work in process” in the table above contains inventoried costs relating to long-term contracts of $267 million and $290 million at December 31, 2011 and 2010, respectively. “Advance payments consumed” in the table above relates to contractual advances received from customers on work in process.

Financial review

© Copyright 2012 ABB.