Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

(In thousands)	December 31 2024		December 31 2023
Finished goods	$	14,344	$	16,171
Work-in-process	15,629		13,081
Raw materials and purchased parts	107,364		114,046
Stores and supplies	44,705		46,071
Total inventories	$	182,042	$	189,369
Valued at lower of cost or market:
LIFO basis	$	96,680	$	95,203
FIFO basis	18,747		18,685
Average cost basis	66,615		75,481
Total inventories	$	182,042	$	189,369

Inventories valued on a LIFO basis at December 31, 2024 and December 31, 2023 were approximately $21 million and $32 million, respectively, less than the amounts of such inventories valued at current costs. During 2024, as a result of reducing certain inventory quantities valued on a LIFO basis, loss from continuing operations decreased from that which would have been recorded on a FIFO basis by $2.6 million. There was no significant impact on loss from continuing operations as a result of reducing certain inventory quantities valued on a LIFO basis during 2023 or 2022.