Inventories

A summary of inventories follows (in thousands):



	April 1, 2017		December 31, 2016
Finished product	$	165,710	$	156,542
Work in process	93,859		87,284
Raw material	34,078		39,859
Supplies and other	48,467		47,130
	$	342,114	$	330,815

In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2015-11, Simplifying the Measurement of Inventory. This ASU amends Topic 330, Inventory. The ASU simplifies the measurement of inventory by requiring certain inventory to be measured at the lower of cost and net realizable value. The adoption of this standard on January 1, 2017 did not have a material impact on the Company's consolidated financial statements.