CLX » Topics » NOTE 5. INVENTORIES, NET

This excerpt taken from the CLX DEF 14A filed Oct 2, 2009.

NOTE 5. INVENTORIES, NET

Inventories, net at June 30 were comprised of the following:

     2009      2008
Finished goods $     304 $     320
Raw materials and packaging 99 94
Work in process   4   4
LIFO allowances   (31 ) (21 )
Allowances for obsolescence   (10 )     (13 )
Total $ 366   $ 384  

The last-in, first-out (LIFO) method was used to value approximately 38% and 33% of inventories at June 30, 2009 and 2008, respectively. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of any LIFO layers was not material for the fiscal years ended June 30, 2009, 2008 and 2007.

Changes in the allowance for inventory obsolescence were as follows:

          2009      2008      2007
Beginning of year $     (13 ) $     (9 ) $     (4 )
Obsolescence provision   (12 ) (12 )     (10 )
Inventory write-offs    15       8     5  
End of year  $ (10 ) $ (13 ) $ (9 )

This excerpt taken from the CLX 10-K filed Aug 25, 2009.

NOTE 5. INVENTORIES, NET

Inventories, net at June 30 were comprised of the following:

     2009      2008
Finished goods $     304 $     320
Raw materials and packaging 99 94
Work in process   4   4
LIFO allowances   (31 ) (21 )
Allowances for obsolescence   (10 )     (13 )
Total $ 366   $ 384  

The last-in, first-out (LIFO) method was used to value approximately 38% and 33% of inventories at June 30, 2009 and 2008, respectively. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of any LIFO layers was not material for the fiscal years ended June 30, 2009, 2008 and 2007.

Changes in the allowance for inventory obsolescence were as follows:

          2009      2008      2007
Beginning of year $     (13 ) $     (9 ) $     (4 )
Obsolescence provision   (12 ) (12 )     (10 )
Inventory write-offs    15       8     5  
End of year  $ (10 ) $ (13 ) $ (9 )

This excerpt taken from the CLX 10-Q filed May 4, 2009.
NOTE 4. INVENTORIES, NET

Inventories, net consisted of the following at:

     3/31/2009      6/30/2008
Finished goods  $      355   $      320  
Raw materials and packaging     95      94  
Work in process     3      4  
LIFO allowances     (33 )     (21 ) 
Allowance for obsolescence     (14 )     (13 ) 
Total  $     406     $     384   

This excerpt taken from the CLX 10-Q filed Feb 5, 2009.
NOTE 4. INVENTORIES, NET

Inventories, net, consisted of the following at:

  12/31/2008      6/30/2008
Finished goods $     351   $     320  
Raw materials and packaging   101       94  
Work in process   3     4  
LIFO allowances   (33 )   (21 )
Allowance for obsolescence        (17 )   (13 )
 
Total $     405   $     384  

9


Table of Contents

NOTE 5. OTHER LIABILITIES         
 
Other liabilities consisted of the following at:         
 
  12/31/2008      6/30/2008
Venture agreement net terminal obligation $     268 $     266
Employee benefit obligations   219   205
Taxes   52   70
Environmental (Note 11)   20   20
Other   28   39
 
Total $     587 $     600

This excerpt taken from the CLX 10-Q filed Nov 3, 2008.
NOTE 4. INVENTORIES, NET

Inventories, net consisted of the following at:

     9/30/2008        6/30/2008  
Finished goods $     363 $     320
Raw materials and packaging 103 94
Work in process 3   4
LIFO allowances     (33 )     (21 )
Allowances for obsolescence   (15 )   (13 )
 
Total $ 421   $ 384  

This excerpt taken from the CLX DEF 14A filed Oct 3, 2008.

NOTE 5. INVENTORIES, NET

Inventories, net at June 30 were comprised of the following:

     2008      2007
Finished goods $     320 $     251  
Raw materials and packaging 94 81
Work in process   4 4
LIFO allowances (21 )   (18 )
Allowances for obsolescence   (13 ) (9 )
Total $ 384 $ 309

The last-in, first-out (LIFO) method was used to value approximately 33% and 37% of inventories at June 30, 2008 and 2007, respectively. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of any LIFO layers was not material for the fiscal years ended June 30, 2008, 2007 and 2006.

A-36


NOTE 5. INVENTORIES, NET (Continued)

Changes in the allowance for inventory obsolescence were as follows:

     2008      2007      2006
Beginning of year $     (9 ) $     (4 ) $     (6 )
Obsolescence provision     (12 ) (10 ) (6 )
Inventory write-offs 8   5     8
End of year $ (13 ) $ (9 ) $ (4 )
These excerpts taken from the CLX 10-K filed Aug 19, 2008.

NOTE 5. INVENTORIES, NET

Inventories, net at June 30 were comprised of the following:

 

     2008     2007  

Finished goods

   $ 320     $ 251  

Raw materials and packaging

     94       81  

Work in process

     4       4  

LIFO allowances

     (21 )     (18 )

Allowances for obsolescence

     (13 )     (9 )
                

Total

   $ 384     $ 309  
                

The last-in, first-out (LIFO) method was used to value approximately 33% and 37% of inventories at June 30, 2008 and 2007, respectively. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of any LIFO layers was not material for the fiscal years ended June 30, 2008, 2007 and 2006.

Changes in the allowance for inventory obsolescence were as follows:

 

     2008     2007     2006  

Beginning of year

   $ (9 )   $ (4 )   $ (6 )

Obsolescence provision

     (12 )     (10 )     (6 )

Inventory write-offs

     8       5       8  
                        

End of year

   $ (13 )   $ (9 )   $ (4 )
                        

NOTE 5. INVENTORIES, NET

STYLE="margin-top:6px;margin-bottom:0px">Inventories, net at June 30 were comprised of the following:

 






































































































   2008  2007 

Finished goods

  $320  $251 

Raw materials and packaging

   94   81 

Work in process

   4   4 

LIFO allowances

   (21)  (18)

Allowances for obsolescence

   (13)  (9)
         

Total

  $384  $309 
         

The last-in, first-out (LIFO) method was used to value approximately 33% and 37% of inventories at June 30,
2008 and 2007, respectively. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of any LIFO layers
was not material for the fiscal years ended June 30, 2008, 2007 and 2006.

Changes in the allowance for inventory obsolescence were as follows:

 

















































































































   2008  2007  2006 

Beginning of year

  $(9) $(4) $(6)

Obsolescence provision

   (12)  (10)  (6)

Inventory write-offs

   8   5   8 
             

End of year

  $(13) $(9) $(4)
             
This excerpt taken from the CLX 10-Q filed May 2, 2008.

NOTE 5. INVENTORIES, NET

Inventories, net consisted of the following at:

 

     3/31/2008     6/30/2007  

Finished goods

   $ 355     $ 251  

Raw materials and packaging

     95       81  

Work in process

     5       4  

LIFO allowances

     (21 )     (18 )

Allowance for obsolescence

     (11 )     (9 )
                

Total

   $ 423     $ 309  
                

At March 31, 2008, inventory balances included $26 from BBI.

This excerpt taken from the CLX 8-K filed Feb 27, 2008.

NOTE 5. INVENTORIES, NET

Inventories, net at June 30 were comprised of the following:

 

     2007     2006  

Finished goods

   $ 251     $ 224  

Raw materials and packaging

     81       81  

Work in process

     4       5  

LIFO allowances

     (18 )     (14 )

Allowances for obsolescence

     (9 )     (4 )
                

Total

   $ 309     $ 292  
                

The last-in, first-out (LIFO) method was used to value approximately 37% of inventories at June 30, 2007, and 2006. The carrying values for all other inventories, including inventories of all international businesses, are determined on the first-in, first-out (FIFO) method. If the carrying value of LIFO inventories had been determined using the FIFO method, inventory amounts would have increased by approximately $18 and $14 at June 30, 2007 and 2006, respectively. The effect on earnings of the liquidation of any LIFO layers was not material for the fiscal years ended June 30, 2007, 2006 and 2005.

Changes in the allowance for inventory obsolescence were as follows:

 

     2007     2006     2005  

Beginning of year

   $ (4 )   $ (6 )   $ (4 )

Obsolescence provision

     (10 )     (6 )     (16 )

Inventory write-offs

     5       8       14  
                        

End of year

   $ (9 )   $ (4 )   $ (6 )
                        


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