NOTE 4 — INVENTORIES AND WORK IN PROGRESS
| December 31, 2017 | December 31, 2016 | December 31, 2015 | ||||||||||||||||||||||||||||||||||
| Cost | Valuation Allowance |
Net | Cost | Valuation Allowance |
Net | Cost | Valuation Allowance |
Net | ||||||||||||||||||||||||||||
| (In millions of US$) | ||||||||||||||||||||||||||||||||||||
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Consumables and spares parts |
12.7 | (0.6 | ) | 12.1 | 12.0 | (0.9 | ) | 11.1 | 15.2 | (0.6 | ) | 14.6 | ||||||||||||||||||||||||
| Raw materials and sub-assemblies | 68.6 | (20.6 | ) | 48.0 | 67.0 | (17.2 | ) | 49.8 | 76.0 | (14.9 | ) | 61.1 | ||||||||||||||||||||||||
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Work in progress |
117.4 | (33.3 | ) | 84.1 | 138.4 | (28.5 | ) | 109.9 | 159.0 | (25.8 | ) | 133.2 | ||||||||||||||||||||||||
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Finished goods |
115.8 | (20.7 | ) | 95.1 | 110.0 | (14.5 | ) | 95.5 | 134.5 | (14.1 | ) | 120.4 | ||||||||||||||||||||||||
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| Inventories and work in progress | 314.5 | (75.2 | ) | 239.3 | 327.4 | (61.1 | ) | 266.3 | 384.7 | (55.4 | ) | 329.3 | ||||||||||||||||||||||||
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Variation of inventories and work in progress
| December 31, | ||||||||||||
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Variation of the period |
2017 | 2016 | 2015 | |||||||||
| (In millions of US$) | ||||||||||||
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Balance at beginning of period |
266.3 | 329.3 | 417.3 | |||||||||
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Variations |
(47.7 | ) | (52.6 | ) | (45.0 | ) | ||||||
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Movements in valuation allowance |
(6.8 | ) | (7.6 | ) | (8.2 | ) | ||||||
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Change in exchange rates |
27.5 | (6.8 | ) | (33.0 | ) | |||||||
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Change in consolidation scope |
— | — | — | |||||||||
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Others |
— | 4.0 | (1.8 | ) | ||||||||
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Balance at end of period |
239.3 | 266.3 | 329.3 | |||||||||
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