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Note 6. Inventories

Inventories consist of the following:

 December 31,
 20132014
Components and raw materials78,57969,709
Work in process31,44230,040
Finished goods20,07345,064
Total inventories, gross130,094144,813
Allowance for obsolescence(23,696)(18,883)
Total inventories, net106,398125,930

The changes in the allowance for obsolescence are as follows:

20132014
Balance at beginning of year(63,181)(23,696)
Deconsolidation ASMPT39,146
Charged to cost of sales(8,648)(2,282)
Reversals(8)279
Utilization of the provision6,4648,514
Foreign currency translation effect2,531(1,698)
Balance at end of year(23,696)(18,883)

The addition for the years 2013 and 2014 mainly relate to inventory items which were ceased to be used due to technological developments and design changes which resulted in in obsolescence of certain parts.

On December 31, 2014, an increase of our overall estimate for obsolescence and lower market value by 10% of our total inventory balance would result in an additional charge to cost of sales of €15 million.

The cost of inventories recognized as costs and included in cost of sales amounted to €246.0 million (2013: €207.9 million).

Welcome to our 2014 Corporate reporting site

ASMI has a dual listing on Nasdaq (North America) and Euronext (the Netherlands). Our full 2014 Annual report is prepared in accordance with International Financial Reporting Standards ('IFRS'), as endorsed by the European Union and can be viewed online conveniently. We also file the Annual report on Form 20-F with the US Securities and Exchange Commission, which is available as a PDF. All our 2014 reports can be downloaded quickly and easily.

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STATUTORY
ANNUAL REPORT 2014

Our Statutory annual report provides a comprehensive overview of company developments in 2014. It has been prepared in accordance with International Financial Reporting Standards ('IFRS') as endorsed by the European Union.

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ANNUAL REPORT ON
FORM 20-F 2014

Form 20-F 2014, which is compiled based on US GAAP, has been filed with the Securities and Exchange Commission. It may contain information additional to the Statutory annual report.

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CR REPORT
2014

Our goal is to create better products and add value to the company, our stakeholders and society at large in a responsible, sustainable manner. Our CS report covers all aspects of our efforts to manage our business responsibly.

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REMUNERATION
REPORT 2014

The Remuneration report 2014 provides a breakdown
of our Management Board and Supervisory Board remuneration.

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RECONCILIATION
US GAAP-IFRS 2014

With dual listing in North America and the Netherlands, we report in US GAAP and IFRS. This document outlines the main differences for ASMI relating to US GAAP and IFRS.

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