Inventories

Inventories consisted of the following:



	(In thousands) December 31,
	2018		2017
Raw materials and supplies	$	89,767	$	65,221
Work in process	9,199		62,584
Finished goods	2,159		10,665
	101,125		138,470
Less progress payments	—		16,309
Total	$	101,125	$	122,161

The December 31, 2017 balances were prior to the adoption of ASC 606 and as such, we netted progress payments from customers related to inventory purchases against inventories on the consolidated balance sheets. See Note 2.