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Inventory

12 Months Ended

Dec. 31, 2012

3. Inventory

Inventory, net of reserves, consisted of the following amounts (in thousands):

	December 31,
	2012		2011
Parts and supplies	$	232,737	$	212,228
Work in progress	120,930		98,402
Finished goods	34,043		31,465
Inventory, net of reserves	$	387,710	$	342,095

During 2012, 2011 and 2010, we recorded $1.0 million, $5.0 million and $2.3 million, respectively, in inventory write-downs and reserves for inventory, which were either obsolete, excess or carried at a price above market value. As of December 31, 2012 and 2011, we had inventory reserves of $11.7 million and $14.0 million, respectively.

- 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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