INVENTORIES

3 Months Ended

Mar. 31, 2022

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Significant cost elements included in inventory are material, labor, freight, subcontract costs, and manufacturing overhead. As necessary, we write down inventory to its net realizable value by recording provisions for excess, slow moving and obsolete inventory. We regularly review inventory quantities on hand and values, and compare them to estimates of future product demand, market conditions, production requirements and technological developments.

Inventories consisted of the following at March 31, 2022:


	Arcadia		DynaEnergetics		NobelClad		DMC Global Inc.
Raw materials	$	14,086	$	14,003	$	8,979	$	37,068
Work-in-process	5,634		21,269		8,781		35,684
Finished goods	50,143		19,760		440		70,343
Supplies	—		—		209		209
Total inventories	$	69,863	$	55,032	$	18,409	$	143,304

Inventories consisted of the following at December 31, 2021:


	Arcadia		DynaEnergetics		NobelClad		DMC Global Inc.
Raw materials	$	12,168	$	15,209	$	7,655	$	35,032
Work-in-process	3,987		13,672		10,257		27,916
Finished goods	44,348		14,998		1,651		60,997
Supplies	—		—		269		269
Total inventories	$	60,503	$	43,879	$	19,832	$	124,214