Department Of Defense Agency Financial Report 2007 - Section 2: Financial Information Page 49
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82Section 2: Financial Information
Department of Defense Agency Financial Report 2007
1
Operating Materials and Supplies, Net
As of September 30
2007
2006
Revaluation
(amounts in millions)
OM&S Gross Value
OM&S, Net
OM&S, Net
Valuation Method
Allowance
OM&S Categories
Held for Use
$
123,958.8
$
(0.8)
$
123,958.0
$
130,617.2
SP, LAC,MAC
Held for Repair
17,021.7
(1,108.5)
15,913.2
16,266.1
SP, LAC,MAC
Excess, Obsolete, and Unserviceable
2,387.3
(2,387.3)
0
0
NRV
Total
$
143,367.8
$
(3,496.6)
$
139,871.2
$
146,883.3
Legend for Valuation Methods:
Adjusted LAC = Latest Acquisition Cost, adjusted for holding gains and losses
SP = Standard Price
NRV = Net Realizable Value
MAC = Moving Average Cost
Restrictions
Some munitions included in Operating Materiels and Supplies (OM&S) are restricted due to condition. Restricted munitions
are considered obsolete or unserviceable when they cannot be expected to meet performance requirements. Obsolete and
unserviceable OM&S may be used in emergency combat situations in which no other suitable munitions are immediately
available.
General Composition of Operating Materials and Supplies
The OM&S includes spare and repair parts, ammunition, tactical missiles, aircraft configuration pods, and centrally managed
aircraft engines held for consumption.
The Department assigns OM&S items to a category based upon the type and condition of the asset.
Stockpile Materials, Net
As of September 30
2007
2006
Stockpile Materials
Allowance for
Stockpile Materials,
Stockpile Materials,
(amounts in millions)
Valuation Method
Amount
Gains (Losses)
Net
Net
Stockpile Materials Categories
Held for Sale
$
857.2
$
0.0
$
857.2
$
984.7
AC, LCM
Held in Reserve for Future Sale
29.3
0.0
29.3
94.1
AC, LCM
Total
$
886.5
$
0.0
$
886.5
$
1,078.8
Legend for Valuation Methods:
AC = Actual Cost
LCM = Lower of Cost or Market
Restrictions
Stockpile materiels held by the National Defense Stockpile (NDS) are restricted until relieved by congressional action and
made available for sale on the open market. Stockpile materiels may not be disposed except for: (1) necessary upgrading,
refining, or processing, (2) necessary rotation to prevent deterioration, (3) determination as excess with potential financial loss
if retained, or (4) as authorized by law.
In 1994, the NDS voluntarily suspended mercury sales. The suspension was in response to concerns raised
by the U.S. Environmental Protection Agency regarding the accumulation of mercury in the global environment.
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