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Inventories

9 Months Ended

Sep. 30, 2015

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories valued at LIFO cost represented 45% and 37% of total inventory at September 30, 2015 and December 31, 2014, respectively.  The excess of current cost over LIFO valued inventories was approximately $10,230,000 at September 30, 2015 and December 31, 2014. An actual valuation of inventory under the LIFO method is made only at the end of each year based on the inventory levels and costs at that time.  Accordingly, interim LIFO must necessarily be based, to some extent, on management's estimates at each quarter end. Net inventories consist of the following:

(in thousands)	September 30, 2015					December 31, 2014
Finished goods		$	134,597				$	112,197
Work in process		15,833					18,635
Raw materials		23,993					35,256
		$	174,423				$	166,088

Inventory obsolescence reserves were $8,050,000 at September 30, 2015 and $7,601,000 at December 31, 2014.  The increase in reserve for obsolescence resulted from the Company's quarterly review in the normal course of business.

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- References

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SX 210.5-02.6)



-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766



Reference 3: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Regulation S-X (SX)



-Number 210



-Section 02



-Paragraph 6



-Subparagraph a, b, c



-Article 5

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