5. Inventories



	June 30,		December 31,
	2015		2014
	(Dollars in thousands)
Raw materials	$	44,124	$	46,605
Work in process		32,192		32,356
Finished goods		81,714		79,407
Total inventories	$	158,030	$	158,368

In the production of some of our products, we use precious metals, some of which we obtain from financial institutions under consignment agreements with terms of one year or less. The financial institutions retain ownership of the precious metals and charge us fees based on the amounts we consign. These fees were $0.2 million for the three months ended June 30, 2015 and 2014, and were $0.4 million for the six months ended June 30, 2015 and 2014. We had on hand precious metals owned by participants in our precious metals consignment program of $26.7 million at June 30, 2015, and $26.6 million at December 31, 2014, measured at fair value based on market prices for identical assets and net of credits.