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INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Schedule of activity in reserves for excess and obsolete inventory
The following table shows the activity in the reserves for excess and obsolete inventory (in thousands of dollars):
 
For the Years Ended December 31,
 
2016
 
2015
Balance at beginning of period
$
(168,105
)
 
$
(136,748
)
Provision for excess and obsolete inventory
(58,485
)
 
(35,165
)
Disposal of unsaleable inventory
30,161

 
24,046

Business acquisitions, foreign currency and other
4,915

 
(20,238
)
Balance at end of period
$
(191,514
)
 
$
(168,105
)