Inventories

9 Months Ended

Sep. 30, 2022

Inventories

Inventories

Note 4. 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):

	September 30,		December 31,
	2022		2021
Raw materials	$	1,797,858	$	1,870,300
Supplies		601,480		552,616
Work in progress		314,658		402,207
Finished goods		662,536		706,007
Total inventories	$	3,376,532	$	3,531,130