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Inventories (Tables) | 6 Months Ended
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Jun. 30, 2016
Inventory Disclosure [Abstract] |
Schedule Changes in Accounting Principles | The following table summarizes the effect of this accounting change on our condensed consolidated statements of operations for the quarter ended June 30, 2015:
| Quarter Ended June 30, 2015
(Dollars in thousands, except per share amounts) | As Originally Reported Under LIFO |  | As Adjusted under FIFO |  | Effect of Change
Cost of sales | $ | 102,509 |  |  | $ | 102,437 |  |  | $ | (72 | )
Net income | $ | 13,540 |  |  | $ | 13,554 |  |  | $ | 14 |
Basic earnings per share | $ | 0.73 |  |  | $ | 0.73 |  |  | $ | — |
Diluted earnings per share | $ | 0.71 |  |  | $ | 0.71 |  |  | $ | — |
The following table summarizes the effect of this accounting change on our condensed consolidated statements of operations for the six months ended June 30, 2015:
| Six Months Ended June 30, 2015
(Dollars in thousands, except per share amounts) | As Originally Reported Under LIFO |  | As Adjusted under FIFO |  | Effect of Change
2015 |  |  |  |  |
Cost of sales | $ | 205,205 |  |  | $ | 205,063 |  |  | $ | (142 | )
Net income | $ | 27,167 |  |  | $ | 27,197 |  |  | $ | 30 |
Basic earnings per share | $ | 1.46 |  |  | $ | 1.47 |  |  | $ | — |
Diluted earnings per share | $ | 1.43 |  |  | $ | 1.43 |  |  | $ | — |
Inventories | Inventories were as follows at the end of the periods noted below:
(Dollars in thousands) | June 30, 2016 |  | December 31, 2015
Raw materials | $ | 32,070 |  |  | $ | 35,499 |
Work-in-process | 22,284 |  |  | 22,804 |
Finished goods | 33,903 |  |  | 33,521 |
Total Inventories | $ | 88,257 |  |  | $ | 91,824 |

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