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Inventory

3 Months Ended

Mar. 31, 2015

The major classes of inventory were as follows:



Inventory	March 31, 2015		December 31, 2014
	(in thousands)
Raw materials	$	41,994	$	40,533
Work-in-progress	71,160		34,095
Finished goods	14,271		6,822
Total	$	127,425	$	81,450

The Company reviews inventory, including inventory purchase commitments, for slow moving or obsolete amounts based on expected volume. If annual volume is less than expected, the Company may be required to make additional allowances for excess or obsolete inventory in the future.

- 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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