Inventories

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories valued at LIFO represented 62% and 49% of total inventory for the years ended December 31, 2017 and 2016, respectively. The excess of current costs (market value) over LIFO-valued inventories was $7,919,000 and $8,123,000 on December 31, 2017 and December 31, 2016, respectively. Inventories consisted of the following on a cost basis, net of reserves for obsolescence and LIFO:

	December 31,
(in thousands)	2017		2016
Finished goods and parts	$	133,161	$	116,667
Work in process	10,243		9,431
Raw materials	12,164		9,662
Inventory, net	$	155,568	$	135,760