Inventories

6 Months Ended

Jul. 01, 2023

Notes To Financial Statements [Abstract]

Inventories

Inventories

Inventories are composed of material, labor and overhead and are stated at the lower of cost or net realizable value. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at July 1, 2023 and December 31, 2022 are as follows (in thousands): 

	Jul 1, 2023		Dec 31, 2022
Raw materials and parts	$	572,508	$	595,325
Work-in-process	105,561		86,083
Finished goods	404,454		396,321
	$	1,082,523	$	1,077,729