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Inventories

3 Months Ended

Apr. 03, 2015

Inventories on the Consolidated Balance Sheets are summarized as follows:



	Apr. 3,		Dec. 31,
(Thousands)	2015		2014
Principally average cost:
Raw materials and supplies	$	39,398	$	39,559
Work in process	158,360		155,377
Finished goods	39,270		37,473
Net inventories	$	237,028	$	232,409

The Company recognized a $1.1 million last-in, first-out (LIFO) liquidation benefit in the first quarter of 2015 due to a forecasted reduction in year-end copper inventory.

- 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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