INVENTORIES

A summary of inventories follows (in thousands):



	December 30, 2017		December 31, 2016
Finished product	$	171,277	$	156,542
Work in process	101,540		87,284
Raw material	33,173		39,859
Supplies and other	52,193		47,130
	$	358,183	$	330,815

In July 2015, the FASB issued 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. The Company's work in process inventory represents inventory in the Food Ingredients segment that is in various stages of processing.