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Inventories

12 Months Ended

Dec. 31, 2014

Inventories consisted of the following:



	(In thousands) December 31,
	2014		2013
Raw materials and supplies	$	77,033	$	75,985
Work in process	61,458		62,115
Finished goods	14,116		11,580
	152,607		149,680
Less progress payments	9,765		9,173
Total	$	142,842	$	140,507

We net advances from customers related to inventory purchases against inventories in the consolidated balance sheets.

- 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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