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8-K
SUNEDISON, INC. filed this Form 8-K on 09/09/2013
Entire Document
 


4. INVENTORIES

Inventories consist of the following:

 

     As of December 31,      As of June 30,  
     2012      2011     

2013

(unaudited)

 
In millions                     

Raw materials and supplies

   $ 35.3        $ 36.6        $ 31.3    

Goods in process

     43.6          62.7          48.7    

Finished goods

     51.6          66.5          47.4    
  

 

 

    

 

 

    

 

 

 

Total inventories

   $        130.5        $        165.8        $        127.4    
  

 

 

    

 

 

    

 

 

 

Included in the table above at December 31, 2012, we had $27.7 million of finished goods inventory held on consignment, compared to $28.5 million at December 31, 2011.

Due to adverse market conditions and the shuttering of our Merano, Italy polysilicon facility, we recorded lower of cost or market charges on our raw materials and supplies inventory of $8.6 million for the year ended December 31, 2011. Lower of cost or market charges for the year ended December 31, 2012 and for the six months ended June 30, 2013 were immaterial.

Due to the earthquake and tsunami in Japan on March 11, 2011, wafer production in our semiconductor wafer plant in Japan was suspended from that time through April 12, 2011. Due to the unplanned downtime, we recorded a total of $14.9 million of adjustments during the year ended December 31, 2011 as period charges to cost of goods sold for the under absorption of production costs. We recorded no similar adjustments for the year ended December 31, 2012 and for the six months ended June 30, 2013.

5. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following:

 

     As of December 31,  
     2012      2011  
In millions              

Land

   $            6.1        $            6.2    

Software

     17.2          18.5    

Buildings and improvements

     238.5          242.4    

Machinery and equipment

     1,149.0          1,147.1    
  

 

 

    

 

 

 
     1,410.8          1,414.2    

Less accumulated depreciation

     (729.4)         (678.6)   
  

 

 

    

 

 

 
     681.4          735.6    

Construction in progress

     108.5          56.3    
  

 

 

    

 

 

 

Total property, plant and equipment, net

   $ 789.9        $ 791.9    
  

 

 

    

 

 

 

We recorded asset impairment charges of $1.5 million for the year ended December 31, 2012, primarily related to software. These charges are reflected in the long-lived asset impairment charges in our combined statement of operations.

Due to the downturn in market conditions, we performed an asset impairment analysis of the polysilicon production assets at our shuttered Merano, Italy polysilicon facility. As a result of this analysis, the polysilicon

 

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