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Inventories

6 Months Ended

Jun. 30, 2014

5. Inventories

Inventories consist of the following:


	June 30, 2014			December 31, 2013
	(In thousands)
Raw materials	$	95,441		$	85,670
Work in progress		134,042			119,929
Finished goods		214,138			195,971

		443,621			401,570
Less: allowance for obsolete and excess inventory		(35,555	)		(33,216	)

Total inventory	$	408,066		$	368,354

- 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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