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Inventory

12 Months Ended

Dec. 31, 2012


	Inventory

The components of inventory are summarized as follows:



	As of December 31,
(In millions)	2012		2011
Raw materials	$	101.8	$	83.8
Work in process	230.5		169.4
Finished goods	115.1		73.6
Total inventory	$	447.4	$	326.8

The components of inventory by product are summarized as follows:



	As of December 31,
(In millions)	2012		2011
AVONEX	$	144.0	$	113.3
TYSABRI	114.8		114.7
Other	86.8		15.0
Total finished goods and work in process	345.6		243.0
Raw materials	101.8		83.8
Total inventory	$	447.4	$	326.8

As of December 31, 2012, the carrying value of other inventory includes $38.3 million associated with our TECFIDERA, Serum-Free AVONEX, Factor VIII and Factor IX programs which have been capitalized in advance of regulatory approval.

Amounts written down related to excess, obsolete, unmarketable or other inventory are charged to cost of sales, and totaled $24.8 million, $25.4 million, and $11.8 million for the years ended December 31, 2012, 2011, and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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