XML 26 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Inventories
6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Inventories
Inventories
 
Inventories valued at LIFO cost represented 68% and 67% of total inventory at June 30, 2017 and December 31, 2016, respectively.  The excess of current cost over LIFO valued inventories was approximately $8,123,000 at June 30, 2017 and December 31, 2016. 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)
June 30,
2017
December 31,
2016
 
 
 
 
 
 
 
Finished goods
 
$
132,238

 
 
$
116,667

 
Work in process
 
8,940

 
 
9,431

 
Raw materials
 
11,972

 
 
9,662

 
Total inventory
 
$
153,150

 
 
$
135,760

 

 
Inventory obsolescence reserves were $7,074,000 at June 30, 2017 and $7,262,000 at December 31, 2016.