NAV » Topics » Inventories

This excerpt taken from the NAV 8-K filed Aug 19, 2009.

Inventories

Inventories consist of raw materials, work-in-process, and finished recreational vehicles and are stated at the lower of cost (first-in, first-out) or market. Cost of work-in-process and finished recreational vehicles includes material, labor, and manufacturing overhead costs.

This excerpt taken from the NAV 10-Q filed Jun 9, 2009.

5. Inventories

The components of inventories are as follows:

 

     As of
     April 30,
2009
   October 31,
2008
(in millions)          

Finished products

   $ 952    $ 998

Work in process

     265      219

Raw materials

     386      359

Supplies

     43      52
             

Total inventories

   $   1,646    $   1,628
             
This excerpt taken from the NAV 10-Q filed Mar 11, 2009.

5. Inventories

The components of inventories are as follows:

 

     As of
     January 31,
2009
   October 31,
2008
(in millions)          

Finished products

   $ 1,056    $ 998

Work in process

     353      219

Raw materials

     361      359

Supplies

     43      52
             

Total inventories

   $ 1,813    $ 1,628
             
This excerpt taken from the NAV 10-Q filed Dec 31, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     January 31,
2008
   October 31,
2007
(in millions)    (Restated)     

Finished products

   $ 859    $ 851

Work in process

     264      210

Raw materials

     323      293

Supplies

     56      58
             

Total inventories

   $ 1,502    $ 1,412
             
This excerpt taken from the NAV 10-Q filed Dec 31, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     July 31,
    2008    
   October 31,
    2007    
(in millions)    (Restated)     

Finished products

   $ 859    $ 851

Work in process

     303      210

Raw materials

     445      293

Costs deferred related to unpriced change orders

     25      —  

Supplies

     60      58
             

Total inventories

   $ 1,692    $ 1,412
             
This excerpt taken from the NAV 10-Q filed Dec 31, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     April 30,
2008
   October 31,
2007
(in millions)    (Restated)     

Finished products

   $ 841    $ 851

Work in process

     204      210

Raw materials

     357      293

Supplies

     58      58
             

Total inventories

   $ 1,460    $ 1,412
             
This excerpt taken from the NAV 10-K filed Dec 30, 2008.

5. Inventories

As of October 31, the components of inventories are as follows:

 

     2008    2007
(in millions)          

Finished products

   $ 995    $ 886

Work in process

     219      175

Raw materials

     359      293

Costs deferred related to unpriced change orders

     3      —  

Supplies

     52      58
             

Total inventories

   $   1,628    $   1,412
             
This excerpt taken from the NAV 10-Q filed Sep 3, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     July 31,
2008
   October 31,
2007
(in millions)          

Finished products

   $ 831    $ 851

Work in process

     190      210

Raw materials

     438      293

Costs deferred related to unpriced change orders

     25      —  

Supplies

     60      58
             

Total inventories

   $ 1,544    $ 1,412
             

 

14


Table of Contents

Navistar International Corporation and Subsidiaries

Notes to Condensed Consolidated Financial Statements—(Continued)

(Unaudited)

 

This excerpt taken from the NAV 10-Q filed Jun 27, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     April 30,
2008
   October 31,
2007
(in millions)          

Finished products

   $ 835    $ 851

Work in process

     118      210

Raw materials

     353      293

Supplies

     58      58
             

Total inventories

   $ 1,364    $ 1,412
             
This excerpt taken from the NAV 10-Q filed Jun 27, 2008.

5. Inventories

The components of inventories are as follows:

 

     As of
     January 31,
2008
   October 31,
2007
(in millions)     

Finished products

   $ 844    $ 851

Work in process

     264      210

Raw materials

     327      293

Supplies

     56      58
             

Total inventories

   $ 1,491    $ 1,412
             
This excerpt taken from the NAV 10-K filed May 29, 2008.

6. Inventories

As of October 31, the components of inventories are as follows:

 

     2007    2006
(in millions)          

Finished products

   $ 886    $ 1,206

Work in process

     175      92

Raw materials

     293      382

Supplies

     58      56
             

Total inventories

   $   1,412    $   1,736
             
This excerpt taken from the NAV 8-K filed Mar 6, 2008.
Inventories
 
Inventories are valued at the lower of cost or market. Cost is principally determined using the first-in, first-out and average cost methods.
 
This excerpt taken from the NAV 10-K filed Dec 10, 2007.
Inventories
 
We did not appropriately account for material price variances, manufacturing cost variances, and freight variances, nor did we properly establish allowances for inventory shrinkage or excess and obsolete inventories. We also did not properly measure and record intercompany profit eliminations.
 
We corrected our accounting for inventory to include all production related costs and to recognize allowances for excess and obsolete inventories and lower-of-cost-or-market adjustments where applicable. Intercompany profit in inventory has been eliminated.
 
The impact on our consolidated balance sheet as of October 31, 2004 to correct the errors related to Inventories is not significant.
 
The impacts on our consolidated statements of operations to correct the errors related to Inventories are as follows (in millions):
 
                 
    2004     2003  
 
Increase (decrease):
               
Sales of manufactured products, net
  $ 2     $  
Cost of products sold
    (5 )     (14 )
Selling, general and administrative expense
    1       3  
Other expense (income), net
    (1 )      
                 
Income (loss) before income tax
  $ 7     $ 11  
                 
 
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