Note 10 - Inventories

9 Months Ended

Sep. 30, 2014

10. Inventories

Inventories are stated at the lower of cost or market, using the first-in, first-out method. Provisions are made for slow-moving, unsellable or obsolete items. Inventories consist of currently marketed products and products manufactured under contract. Inventories consist of the following:

	September 30, 2014			December 31, 2013
	(in thousands)
Raw materials and supplies	$	42,049		$	34,470
Work in process		23,558			14,698
Finished goods		23,430			26,501
Total inventory		89,037			75,669
Less reserve for excess and obsolete inventories		(985	)		(5,753	)
Total inventory, net	$	88,052		$	69,916

- 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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