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Inventory

6 Months Ended

Jun. 30, 2013

Note 10. Inventory

Inventories at June 30, 2013 and December 31, 2012 are summarized below:

	June 30,		December 31,
	2013		2012
	(In thousands)
Raw materials	$	18,841	$	10,889
Work-in-process	7,805		3,466
Finished goods	2,122		208
Total	$	28,768	$	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 cost and market value, less cost to sell.

- 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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