Inventories

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

The major components of inventories were as follows:

	September 30, 2022		December 31, 2021
Petroleum products	$	3,054	$	998
Crude oil	15,451		11,834
Caustic soda	11,636		5,690
NaHS	18,236		17,040
Raw materials - Alkali operations	6,672		7,599
Work-in-process - Alkali operations	8,299		7,496
Finished goods, net - Alkali operations	14,281		13,681
Materials and supplies, net - Alkali operations	15,278		13,620
Total	$	92,907	$	77,958

Inventories are valued at the lower of cost or net realizable value. As of September 30, 2022 and December 31, 2021, the net realizable value of inventories were below cost by $2.4 million and $2.0 million, respectively, which triggered a reduction of the value of inventory in our Consolidated Financial Statements by this amount.

Materials and supplies include chemicals, maintenance supplies and spare parts which will be consumed in the mining of trona ore and production of soda ash processes.