Inventories, Net

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Inventories, Net

NOTE 3 - INVENTORIES, NET

Inventories, net

Inventory is carried at lower of cost or net realizable value. The components of inventory are as follows:

	March 31, 2026		December 31, 2025
Raw materials	$	98,094	$	95,988
Work-in-process	17,316		16,586
Finished products	56,314		55,442
Inventories, net of excess and obsolete inventory reserve	171,724		168,016
Excess of current cost over LIFO cost	(19,914)		(19,286)
Inventories at LIFO cost	$	151,810	$	148,730

Costs for inventories of certain material, mainly in the U.S., are determined using the Last-In First-Out ("LIFO") method and totaled approximately $45.3 million at March 31, 2026 and $45.8 million at December 31, 2025. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three-month periods ended March 31, 2026 and 2025, the net change in LIFO inventories resulted in an expense of $0.6 million and $0.5 million, respectively, to Cost of products sold. The Company’s reserves for excess and obsolete inventory were $16.9 million at March 31, 2026 and $17.7 million at December 31, 2025.