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INVENTORIES

12 Months Ended

Dec. 29, 2012

(4) INVENTORIES

Inventories consisted of the following at December 29, 2012 and December 31, 2011:

	2012		2011

Raw materials and purchased parts	$	199,808	$	202,953
Work-in-process		36,114		28,053
Finished goods and manufactured goods		222,284		212,312

Subtotal		458,206		443,318
Less: LIFO reserve		45,822		49,536

	$	412,384	$	393,782

In 2010, the Company reduced its LIFO inventory quantities, thereby liquidating a portion of its LIFO inventories acquired in prior years. The result of this liquidation was an increase in operating income of $1,509 for the fiscal year ended December 25, 2010.

- 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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