Inventories

Inventories are comprised of the following:



	As of December 31, 2014		As of September 30, 2015
	(Dollars in thousands)
Inventories:
Raw materials and supplies	$	122,218	$	91,480
Work in process	176,141		142,215
Finished goods	84,544		88,573
Total	$	382,903	$	322,268

As part of purchase price allocation accounting (see Note 2 "Preferred Share Issuance and Merger") our inventory was written down to fair value as of August 15, 2015 resulting in a reduction in the inventory value of $30.9 million. This reduction was primarily the result of the value of needle coke inventory which is a raw material for our graphite electrodes.