XML 103 R20.htm IDEA: XBRL DOCUMENT v3.20.4
Inventories
 12 Months Ended
Dec. 31, 2020
Inventories Disclosure [abstract]  
Inventories
14. Inventories
(USD millions)
2020
2019
Raw material, consumables
967
751
Work in progress
3 324
3 024
Finished products
2 840
2 207
Total inventories
7 131
5 982
The following table shows the amount of inventory recognized as an expense in “Cost of goods sold” in the consolidated income statements from continuing operations:
(USD billions)
2020
2019
2018
Cost of goods sold
– 8.5
– 8.5
– 8.3
The following table shows the recognized amount of inventory provision and reversals of inventory provision recorded in the consolidated income statements from continuing operations:
(USD millions)
2020
2019
2018
Inventory provisions
– 702
– 752
– 603
Reversals of inventory provisions
255
218
216
The reversals mainly result from the release of products initially requiring additional quality control inspections and from the reassessment of inventory values manufactured prior to regulatory approval but for which approval was subsequently received.