XML 48 R11.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Sep. 30, 2012

5. Inventories

Inventories used in determining cost of sales were as follows (in thousands of dollars):

	September 30,		December 31,
	2012		2011
Gross inventories @ FIFO:
Finished goods	$	27,486	$	11,914
Work in progress		33,346		27,749
Raw materials & component parts		178,040		144,731
Maintenance, tooling & supplies		18,155		17,001
Total gross inventories @ FIFO		257,027		201,395
Less reserves:
LIFO		34,103		32,103
Valuation		4,113		3,144
Total inventories as reported	$	218,811	$	166,148

Gross inventories on a first in, first out ("FIFO") basis before adjustments for reserves shown above that were accounted for on a last in, first out ("LIFO") basis were $123.0 million and $97.9 million at September 30, 2012 and December 31, 2011, 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