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Inventories | 9 Months Ended
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Sep. 30, 2022
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following:
| Sept. 30, 2022 |  | Sept. 30, 2021 |  | Dec. 31, 2021
| (Dollars in thousands)
Raw materials | $ | 452,307 |  |  | $ | 333,202 |  |  | $ | 394,102 |
Work-in-process | 231,036 |  |  | 152,429 |  |  | 157,406 |
Finished goods | 542,044 |  |  | 370,134 |  |  | 394,378 |
Other | 16,857 |  |  | 16,005 |  |  | 15,731 |
| 1,242,244 |  |  | 871,770 |  |  | 961,617 |
Adjustment to value inventory at cost on the LIFO method | (391,174) |  |  | (109,588) |  |  | (162,780) |
| $ | 851,070 |  |  | $ | 762,182 |  |  | $ | 798,837 |
During the nine months ended September 30, 2022, we implemented an inventory management program which resulted in permanent reductions of inventories valued under the last-in, first-out basis. This resulted in liquidations of inventory layers carried at costs prevailing in prior years and thereby decreased cost of goods sold by $26.2 million and $33.5 million for the three and nine months ended September 20, 2022, 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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