Inventories

3 Months Ended

Apr. 02, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following:

	April 2, 2021		December 31, 2020
In thousands
Raw materials	$	19,363	$	19,502
Contracts and other work in process (including certain general stock materials)	141,866		129,241
Finished goods	36,074		36,329
Inventories	$	197,303	$	185,072

Inventories include amounts associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts were as follows:

	April 2, 2021		December 31, 2020
In thousands
Contract changes, negotiated settlements and claims for unanticipated contract costs	$	500	$	500

11. INVENTORIES (CONTINUED)

At April 2, 2021 and December 31, 2020, $61.4 million and $60.4 million, respectively, of K-MAX® inventory was included in contracts and other work in process inventory and finished goods on the Company's Condensed Consolidated Balance Sheets. Management believes that approximately $24.5 million of the K-MAX® inventory will be sold after April 2, 2022, based upon the anticipation of additional aircraft manufacturing and the requirements to support the fleet for the foreseeable future.

At April 2, 2021 and December 31, 2020, $6.1 million and $6.3 million, respectively, of SH-2G(I) inventory was included in contracts and other work in process inventory on the Company's Condensed Consolidated Balance Sheets. Management believes that approximately $5.1 million of the SH-2G(I) inventory will be sold after April 2, 2022. This balance represents spares requirements and inventory to be used on SH-2G programs.