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Note 3 - Inventories

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE

3

- INVENTORIES

Inventories are stated at the lower of cost or market. The costs for approximately

70%

of inventories at

March

31,

2017

and

72%

of inventories at

December

 

31,

2016

are determined using the last-in,

first

-out (LIFO) method, with the remainder determined using the

first

-in,

first

-out (FIFO) method applied on a consistent basis. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimate of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory valuation.

The major components of inventories are as follows (net of LIFO reserves of

$59.2

million and

$58.4

million at

March

31,

2017

and

December

 

31,

2016,

respectively):

		March 31, 2017				December 31, 201 6
Raw materials and in-process		$	15,671			$	17,986
Finished parts			45,402				43,423
Finished products			6,957				7,640
Total inventories		$	68,030			$	69,049

X

- References

No definition available.

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X

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

+ Details

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