Siemens 2007 Annual Report Download - page 241

Notes to Consolidated Financial Statements 241
(in millions of €, except where otherwise stated and per share amounts)
Notes to Consolidated Financial Statements
12 Other current fi nancial assets
13 Inventories
Costs and earnings in excess of billings on uncompleted contracts relates to con-
struction contracts with net asset balances where contract costs plus recognized
profi ts less recognized losses exceed progress billings. Liabilities from contracts
for which progress billings exceed costs and recognized profi ts less recognized
losses are recognized in Other current liabilities.
The aggregate amount of costs incurred and recognized profi ts less recognized
losses for construction contracts in progress as of September 30, 2007 and 2006
amounted to €44,865 and €37,395, respectively. Advance payments received on
construction contracts in progress were €6,159 and €5,415 as of September 30,
2007 and 2006. Revenue from construction contracts amounted to €20,465 and
€19,209, respectively, for fi scal 2007 and 2006. Information concerning construc-
tion contracts does not include disposal groups.
See Note 4 for further information on Inventories reclassifi ed to Assets held for
disposal.
September 30,
2007 2006
Derivative fi nancial instruments 758 424
Loans receivable 491 472
Receivables from joint ventures and associated and related companies 229 239
Other 1,454 1,235
2,932 2,370
September 30,
2007 2006
Raw materials and supplies 2,201 2,609
Work in process 3,196 2,975
Costs and earnings in excess of billings on uncompleted contracts 7,099 7,085
Finished goods and products held for resale 2,558 2,544
Advances to suppliers 751 667
15,805 15,880
Advance payments received (2,875) (3,090)
12,930 12,790