11.	INVENTORIES

Inventories, net of reserves were as follows:

	December 31
In thousands		2017		2016
Raw materials	$	60,806	$	66,359
In-process and finished		116,678		112,507
Supplies		74,580		70,803
Total	$	252,064	$	249,669

We value all of our U.S. inventories, excluding supplies, on the LIFO method. If we had valued these inventories using the first-in, first-out method, inventories would have been $22.7 million and $21.3 million higher than reported at December 31, 2017 and 2016, respectively.