XML 192 R15.htm IDEA: XBRL DOCUMENT

Inventories

12 Months Ended

Jun. 30, 2013

Inventories consisted of the following at June 30:



(in thousands)	2013			2012
Finished goods	$	303,307		$	319,217
Work in process and powder blends	244,180			252,035
Raw materials	137,602			135,454
Inventories at current cost	685,089			706,706
Less: LIFO valuation	(106,294		)	(120,850		)
Total inventories	$	578,795		$	585,856

We used the LIFO method of valuing inventories for approximately 52 percent and 49 percent of total inventories at June 30, 2013 and 2012, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details