Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consist of the following:

	At December 31,
	2020		2019
In thousands
Raw materials	$	19,502	$	15,012
Contracts in process:
US Government	5,439		6,217
Commercial and other government contracts	59,565		74,035
Contracts and other work in process (including certain general stock materials)	64,237		36,130
Finished goods	36,329		24,959
Inventories	$	185,072	$	156,353

Inventories include amounts associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs, which totaled $0.5 million and $0.4 million at December 31, 2020 and 2019, respectively.

At December 31, 2020 and 2019, $60.4 million and $43.6 million, respectively, of K-MAX® inventory was included in contracts and other work in process inventory and finished goods on the Company's Consolidated Balance Sheets. Management believes that approximately $19.9 million of the K-MAX® inventory will be sold after December 31, 2021, based upon the anticipation of additional aircraft manufacturing and supporting the fleet for the foreseeable future.

At December 31, 2020 and 2019, $6.3 million and $3.6 million, respectively, of SH-2G(I) inventory was included in contracts and other work in process inventory on the Company's Consolidated Balance Sheets. Management believes that approximately $5.3 million of the SH-2G(I) inventory will be sold after December 31, 2021. This balance represents spares requirements and inventory to be used in SH-2G programs.