Furniture Brands International, (FRA:FBN1) Total Inventories : €171.7 Mil (As of Jun. 2013)

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What is Furniture Brands International, Total Inventories?

Furniture Brands International,'s total inventories for the quarter that ended in Jun. 2013 was €171.7 Mil. Furniture Brands International,'s average total inventories from the quarter that ended in Mar. 2013 to the quarter that ended in Jun. 2013 was €179.1 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Furniture Brands International,'s Net-Net Working Capital per share for the quarter that ended in Jun. 2013 was €-33.08.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Furniture Brands International,'s Days Inventory for the three months ended in Jun. 2013 was 103.51.

Inventory Turnover measures how fast the company turns over its inventory within a year. Furniture Brands International,'s Inventory Turnover for the quarter that ended in Jun. 2013 was 0.88.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Furniture Brands International,'s Inventory-to-Revenue for the quarter that ended in Jun. 2013 was 0.93.

Furniture Brands International, Total Inventories Historical Data

The historical data trend for Furniture Brands International,'s Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Furniture Brands International, Total Inventories Chart

Furniture Brands International, Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Total Inventories

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259.02

155.09

188.77

173.40

186.18

Furniture Brands International, Quarterly Data
	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13
Total Inventories	Get a 7-Day Free Trial															198.48	201.58	186.18	186.56	171.72

Furniture Brands International, Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Furniture Brands International, (FRA:FBN1) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Furniture Brands International,'s Net-Net Working Capital Per Share for the quarter that ended in Jun. 2013 is

	Net-Net Working Capital Per Share (Q: Jun. 2013 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(6.683	+	0.75 * 82.888	+	0.5 * 171.716	-	417
-	0	-	0)	/	7.929
=	-33.08

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Furniture Brands International,'s Days Inventory for the three months ended in Jun. 2013 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2013 )	/	Cost of Goods Sold (Q: Jun. 2013 )	*	Days in Period
	=	179.139	/	157.919	*	365 / 4
	=	103.51

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Furniture Brands International,'s Inventory Turnover for the quarter that ended in Jun. 2013 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2013 )	/	Average Total Inventories (Q: Jun. 2013 )
	=	157.919	/	179.139
	=	0.88

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Furniture Brands International,'s Inventory to Revenue for the quarter that ended in Jun. 2013 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2013 )	/	Revenue (Q: Jun. 2013 )
	=	179.139	/	193.278
	=	0.93

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Furniture Brands International, Total Inventories Related Terms

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Furniture Brands International, (FRA:FBN1) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Furniture Brands International, Inc. (FRA:FBN1) » Definitions » Total Inventories

Traded in Other Exchanges

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Address

Website

http://www.furniturebrands.com

Furniture Brands International, Inc., is a Delaware corporation, which was organized in 1921 as a holding company. The Company is engaged in designing, manufacturing, sourcing and retailing of home furnishings. It markets products through a wide range of channels, including its own Thomasville retail stores and through interior designers, multi-line/independent retailers and mass merchant stores. Its portfolio includes Thomasville, Broyhill, Lane, Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture, Maitland-Smith and La Barge. Through these brands, the Company offers case goods, consisting of bedroom, dining room, and living room wood furniture; stationary upholstery products, consisting of sofas, loveseats, sectionals, and chairs; motion upholstered furniture, consisting of recliners and sleep sofas; occasional furniture, consisting of wood, metal and glass tables, accent pieces, home entertainment centers, and home office furniture; and decorative accessories and accent pieces. The Company's brands are featured in every price and product category in the residential furniture industry. Each of its brands targets specific customers in relation to style and price point. The raw materials used in manufacturing its products include lumber, veneers, plywood, fiberboard, particleboard, steel, paper, hardware, adhesives, finishing materials, glass, mirrored glass, fabrics, leathers, metals, stone, synthetics and upholstered filling material. The Company's products compete against domestic manufacturers, importers, and foreign manufacturers entering the United States market; as well as increased direct importing by some larger retailers. Its competitors include: Ashley Furniture Industries, Inc.; La-Z-Boy Incorporated; Ethan Allen Interiors Inc., and many other home furnishings retailers and manufacturers. The elements of competition include price, style, quality, service, brand and marketing.

Furniture Brands International, (FRA:FBN1) Headlines

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