Inventories

3 Months Ended

Mar. 31, 2020

Inventories, net of obsolete, unmarketable and slow moving reserves are as follows:


	March 31, 2020			December 31, 2019
			(In thousands)
Raw materials, consumables and supplies, net	$	76,637		$	69,168
Work in process	35			148
Finished goods, net	91,808			95,483
Total	$	168,481		$	164,799

Orion periodically reviews inventories for both obsolescence and loss in value. In this review, Orion makes assumptions about the future demand for and the future market value of the inventory and, based on these assumptions, estimates the amount of obsolete, unmarketable or slow moving inventory.

The balance of the reserve for obsolete, unmarketable and slow moving inventories amounted to $6.7 million as of December 31, 2019. The additions, net to the reserve during the quarter ended March 31, 2020 amounted to $3.4 million (prior year: $0.1 million), of which $2.9 million were related to adjust inventories to net realizable value (prior year: nil). The balance of the reserve as of March 31, 2020 increased therefore to $10.0 million. The adjustment to net realizable values was recorded on raw materials, consumables and supplies and on finished goods.