Inventories

3 Months Ended

Mar. 31, 2020

Inventories

Inventories

Note 3. Inventories

Inventories are stated at lower of cost or net realizable value. Cost is determined using a weighted average cost method for raw materials and supplies, and on a first-in, first-out basis for other inventory. Inventory consisted of the following (in thousands):

	March 31,		December 31,
	2020		2019
Raw materials	$	650,140	$	686,831
Supplies		490,401		498,298
Work in progress		160,831		154,669
Finished goods		343,166		349,245
Total inventories	$	1,644,538	$	1,689,043