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INVENTORIES | 12 Months Ended
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Dec. 31, 2023
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories at December 31 are as follows:
(In thousands) | 2023 |  | 2022
Finished Goods | $ | 29,013 |  |  | $ | 30,703 |
Work in Progress | 32,118 |  |  | 29,895 |
Raw Material | 130,670 |  |  | 127,385 |
Total Inventories | $ | 191,801 |  |  | $ | 187,983 |
At December 31, 2023, the Company’s reserve for inventory valuation was $38.5 million, or 16.7% of gross inventory. At December 31, 2022, the Company’s reserve for inventory valuation was $36.8 million, or 16.4% of gross inventory. In November 2023, a non-core contract manufacturing customer reported within the Aerospace segment filed for bankruptcy under Chapter 11. As a result, the Company recorded a full reserve of $3.6 million for dedicated inventory.

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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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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