Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories:

The following table provides a breakdown of inventories at December 31, 2021 and 2020 (in thousands):

	December 31,
	2021		2020
Finished goods	$	473,836	$	454,162
Raw materials and work in process(a)	259,221		219,896
Stores, supplies and other	79,863		76,179
Total	$	812,920	$	750,237

(a)Included $149.4 million and $129.6 million at December 31, 2021 and 2020, respectively, of work in process in our Lithium segment.

Approximately 6% and 8% of our inventories are valued using the last-in, first-out (“LIFO”) method at December 31, 2021 and 2020, respectively. The portion of our domestic inventories stated on the LIFO basis amounted to $51.2 million and $62.2 million at December 31, 2021 and 2020, respectively, which are below replacement cost by approximately $45.3 million and $29.7 million, respectively.