4 Inventories (XLS:) Download millions of € Dec. 31, 2018 Dec. 31, 2017 Raw materials and supplies 56 54 Work in process 20 13 Finished goods and merchandise 1,714 1,918 1,790 1,985 The carrying amount of inventories decreased by EUR 0.2 billion to EUR 1.8 billion compared with December 31, 2017, mainly due to the reduction in the stock levels of terminal equipment (in particular higher-priced smartphone models) in the United States operating segment; exchange rate effects, mainly from the translation of U.S. dollars into euros, had an offsetting effect. Write-downs of EUR 42 million (2017: EUR 27 million, 2016: EUR 46 million) on the net realizable value were recognized in 2018 and are shown in profit or loss. The carrying amount of inventories expensed during the reporting period was EUR 14,373 million (2017: EUR 13,358 million; 2016: EUR 13,295 million). The finished goods and merchandise primarily comprise retail products (e.g., terminal equipment and accessories) not manufactured by Deutsche Telekom and services rendered but not yet invoiced, primarily to business customers. schließen Retail The sale of goods and services to end users, as opposed to resale or wholesale.