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Inventories

12 Months Ended

Dec. 31, 2013

4)	Inventories


	December 31,
	2013		2012
Raw materials	$	15,448	$	13,013
Work in process		9,672		8,561
Finished goods		29,410		24,576

Inventories	$	54,530	$	46,150

Inventory on consignment at customers’ sites at December 31, 2013 and 2012 was approximately $4,735 and $2,644, respectively.

The inventory valuations above were developed using normalized production capacities for each of our manufacturing locations. Any costs from abnormal excess capacity or under-utilization of fixed production overheads are expensed in the period incurred and are not included as a component of inventory valuation.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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