MPZ » Topics » Inventories

This excerpt taken from the MPZ 8-K filed Oct 6, 2005.

Inventories

Inventory balances are stated at the lower of cost or market, with cost being determined on an average cost basis approximating first in first out (FIFO). The Company regularly evaluates the realizability of its inventory based on a combination of factors including the following: historical usage rates, forecasted sales or usage, estimated service period, product end-of-life dates, estimated current and future market values, service inventory requirements and new product introductions, as well as other factors. If circumstances related to the Company’s inventories change, the Company’s estimates of the realizability of inventory could materially change. At July 2, 2005 and January 1, 2005, the Company’s inventory allowance totaled $9 million and $8.5 million, respectively, and is recorded as a reduction of inventory of the Company’s consolidated balance sheets.

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