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Inventories | 12 Months Ended
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Dec. 31, 2017
Inventory Disclosure [Abstract] |
Inventories | Inventories: The following table provides a breakdown of inventories at December 31, 2017 and 2016 (in thousands):
| December 31,
| 2017 |  | 2016
Finished goods(a) | $ | 404,239 |  |  | $ | 289,102 |
Raw materials and work in process(b) | 132,891 |  |  | 109,706 |
Stores, supplies and other | 55,651 |  |  | 51,455 |
Total(c) | $ | 592,781 |  |  | $ | 450,263 |
(a) | Increase primarily due to the Jiangli New Materials acquisition and the build up of inventory at other Lithium sites for an increase in sales in 2018.
(b) | Included $59.6 million and $47.1 million at December 31, 2017 and 2016, respectively, of work in process related to the Lithium product category.
(c) | As of December 31, 2017, $24.7 million of Inventories were classified as Assets held for sale in the consolidated balance sheets. See Note 3, “Divestitures,” for additional information.
Approximately 17% and 19% of our inventories are valued using the last-in, first-out (“LIFO”) method at December 31, 2017 and 2016, respectively. The portion of our domestic inventories stated on the LIFO basis amounted to $99.6 million and $87.5 million at December 31, 2017 and 2016, respectively, which are below replacement cost by approximately $33.1 million and $33.8 million, respectively.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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