Inventories

3 Months Ended

Mar. 31, 2020

NOTE G—INVENTORIES

At March 31, 2020 and December 31, 2019, inventories (in thousands) consisted of the following:



	March 31, 2020		December 31, 2019
Supplies	$	48,300	$	47,277
Raw materials and work in process	36,519		41,167
Finished goods	34,265		35,988
Total inventories	$	119,084	$	124,432

During the first quarter of 2020, there was an unprecedented drop in global demand combined with the breakdown of the Organization of the Petroleum Exporting Countries and other oil producing nations ("OPEC+") agreement to restrict oil production that led to one of the largest annual crude oil inventory builds in history. This led to sharp reductions in global crude oil prices. Containment measures and other economic, travel, and business disruptions caused by the coronavirus disease of 2019 ("COVID-19") also affected refinery activity and future demand for crude oil, and consequently, the services and products of our Oil & Gas Proppants Segment. As a result of these events, we recorded impairment charges of $5.7 million primarily related to unused inventory at idled plants. These charges relate to the Oil & Gas Proppants Segment and were recorded in "Goodwill and other asset impairments" in the Condensed Consolidated Statements of Operations.