(8) Inventories

The inventories of the LANXESS Group comprised:

Inventories
 
€ million Dec. 31, 2012 Dec. 31, 2013
     
Raw materials and supplies 273 238
Work in process, finished goods and merchandise 1,254 1,061
  1,527 1,299
 

Inventories of €246 million (2012: €217 million) are reflected at net realizable value.

The changes in write-downs of inventories were as follows:

Write-Downs of Inventories
 
€ million 2012 2013
     
Balance at beginning of year (101) (86)
Additions charged as expenses (37) (36)
Reversals/utilization 51 28
Exchange differences 1 2
Balance at end of year (86) (92)