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Inventories

12 Months Ended

Dec. 29, 2023

Inventory, Net [Abstract]

Inventories

Inventories

Major components of inventories were as follows (in thousands):

			2023						2022
Finished products and components			$	221,847					$	222,326
Products and components in various stages of completion			131,906						138,957
Raw materials and purchased components			202,294						248,636
Subtotal			556,047						609,919
Reduction to LIFO cost			(117,698)						(133,129)
Total			$	438,349					$	476,790

Inventories valued under the LIFO method were $211.4 million in 2023 and $253.6 million in 2022. All other inventory was valued on the FIFO method.

In 2023, certain inventory quantities were reduced, resulting in liquidation of LIFO inventory quantities, although increases in current product costs offset the impact of the decrement. The impact on net earnings was not significant.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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- References

No definition available.

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