Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined on the last-in, last-out (LIFO) basis for most U.S. inventories and the first-in, first-out (FIFO) basis for most non-U.S. inventories. Inventories at March 31, 2017 and December 31, 2016 consisted of the following:



	March 31, 2017			December 31, 2016
Raw materials	$	35,499		$	28,541
Work in process	5,994			6,498
Supplies and service parts	49,729			45,152
Finished products	36,559			24,678
Inventory at FIFO cost	127,781			104,869
Excess of FIFO cost over LIFO cost	(12,143		)	(12,143		)
Total inventory, net	$	115,638		$	92,726