Accounts Receivable and Inventories

12 Months Ended

Dec. 31, 2011

Accounts Receivable and Inventories

Accounts Receivable and Inventories

4. Accounts Receivable and Inventories

        Accounts receivable consist of the following:

	Accounts Receivable
(In thousands)	December 31 2011			December 31 2010
Trade accounts receivable	$	636,304		$	605,584
Less: Allowance for doubtful accounts		(17,829	)		(20,283	)
Trade accounts receivable, net	$	618,475		$	585,301
Other receivables(a)	$	44,431		$	29,299

(a)

Other receivables include insurance claim receivables, employee receivables, tax claim receivables and other miscellaneous receivables not included in Trade accounts receivable, net.

        The provision for doubtful accounts related to trade accounts receivable for the years ended December 31, 2011, 2010 and 2009:

	For Years Ended December 31
(In thousands)	2011		2010		2009
Provision for doubtful accounts related to trade accounts receivable	$	7,880	$	9,962	$	9,318

        Inventories consist of the following:

	Inventories
(In thousands)	2011		2010
Finished goods	$	78,445	$	124,771
Work-in-process		34,041		28,266
Raw materials and purchased parts		92,995		79,420
Stores and supplies		36,453		39,160
Total inventories	$	241,934	$	271,617
Valued at lower of cost or market:
LIFO basis	$	115,523	$	117,519
FIFO basis		13,087		14,148
Average cost basis		113,324		139,950
Total inventories	$	241,934	$	271,617

        Inventories valued on the LIFO basis at December 31, 2011 and 2010 were approximately $28.6 million and $26.3 million, respectively, less than the amounts of such inventories valued at current costs.

        As a result of reducing certain inventory quantities valued on the LIFO basis, net income increased from that which would have been recorded under the FIFO basis of valuation by $0.1 million, $0.4 million and $1.7 million in 2011, 2010 and 2009, respectively.