Inventories:

The following table provides a breakdown of inventories at December 31, 2016 and 2015 (in thousands):



	December 31,
	2016		2015
Finished goods	$	289,102	$	264,025
Raw materials and work in process^(a)	109,706		122,038
Stores, supplies and other	51,455		53,450
Total inventories^(b)	$	450,263	$	439,513


(a)	Included $47.1 million and $39.1 million at December 31, 2016 and 2015, respectively, of work in process related to the Lithium product category.


(b)	As of December 31, 2015, $162.8 million of Inventories were classified as Assets held for sale in the consolidated balance sheets. See Note 3, “Divestitures,” for additional information.

Approximately 19% of our inventories are valued using the last-in, first-out (“LIFO”) method at December 31, 2016 and 2015. The portion of our domestic inventories stated on the LIFO basis amounted to $87.5 million and $85.1 million at December 31, 2016 and 2015, respectively, which are below replacement cost by approximately $33.8 million and $36.9 million, respectively.