8. Inventories

Certain reclassifications have been made to prior period information to conform to current year presentation.

Inventories, net consisted of the following:


	June 30,			December 31,
(Amounts in thousands)	2011			2010
Raw materials	$	315,830		$	265,742
Work in process		819,382			688,710
Finished goods		339,204			306,083
Less: Progress billings		(310,128	)		(305,541	)
Less: Excess and obsolete reserve		(73,713	)		(68,263	)

Inventories, net	$	1,090,575		$	886,731