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Inventory

3 Months Ended

Mar. 31, 2013

Note 9. Inventory

Inventories at March 31, 2013 and December 31, 2012 are summarized below:

	March 31,		December 31,
	2013		2012
	(In thousands)
Raw materials	$	23,539	$	13,659
Work-in-process	—		696
Finished goods	148		208
Total	$	23,687	$	14,563

Inventories are stated at the lower of cost or market. Cost is determined by the actual cost method. If inventory costs exceed expected market value due to obsolescence or quantities in excess of expected demand, reserves are recorded for the difference between the cost and market value. These reserves are based on estimates. The aggregate inventory valuation reserve was zero at March 31, 2013.

- 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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