Inventories

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Inventories

5.INVENTORIES

Inventories valued at LIFO (last-in, first-out), consist of the following (in thousands):

	June 30, 2025			December 31, 2024
Finished goods	$	118,903		$	183,670
Raw materials		72,610			73,281
Total FIFO (first-in, first-out) inventories		191,513			256,951
Reserve to adjust inventories to LIFO value		(49,669	)		(49,669	)
Total LIFO inventories	$	141,844		$	207,282

The Company utilizes the LIFO method of accounting, which generally provides for the matching of current costs with current revenues. However, under the LIFO method, reductions in annual inventory balances may cause a portion of the Company’s cost of sales to be based on historical costs rather than current year costs (LIFO liquidation). Reductions in interim inventory balances expected to be replenished by year-end do not result in a LIFO liquidation. Accordingly, interim LIFO calculations are based, in part, on management’s estimates of expected year-end inventory levels and costs and may differ from actual results. Since inventory levels and costs are subject to factors beyond management’s control, interim results are subject to the final year-end LIFO inventory valuation. As of June 30, 2025, management estimates that inventory balances will be replenished by year-end and there were no LIFO inventory liquidations or related impact on cost of sales in the six months ended June 30, 2025.