Financial Statement Information Inventories (Policies)

6 Months Ended

Jun. 30, 2021

Inventories

Inventories consist of the following (in thousands):


	June 30,		December 31,
	2021		2020
Aftermarket and refurbished products	$	1,984,301	$	2,025,002
Salvage and remanufactured products	382,565		368,815
Manufactured products	27,281		20,795
Total inventories	$	2,394,147	$	2,414,612

Aftermarket and refurbished products and salvage and remanufactured products are primarily composed of finished goods. As of June 30, 2021, manufactured products inventory was composed of $21 million of raw materials, $4 million of work in process, and $2 million of finished goods. As of December 31, 2020, manufactured products inventory was composed of $16 million of raw materials, $3 million of work in process, and $2 million of finished goods.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details