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Note 4 - Inventories | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Inventory Disclosure [Text Block] | Note 4 – Inventories LIFO inventories are stated at the lower of cost or market and all other inventories are stated at the lower of cost or net realizable value. Replacement cost approximates current cost and the excess over LIFO cost is approximately $62.5 million and $63.7 million at December 31, 2019 and 2018, respectively. Some inventory quantities were reduced during 2019 and 2018, resulting in liquidation of some LIFO quantities carried at lower costs from earlier years versus current year costs. The related effect increased net income by approximately $2.0 million during 2019 and $0.2 million during 2018. Allowances for excess and obsolete inventory totaled $5.9 million and $5.3 million at December 31, 2019 and 2018, respectively. Inventories are comprised of the following:
Inventories, net |  | December 31, 201 9 |  |  | December 31, 2018 |
Raw materials and in-process |  | $ | 16,474 |  |  | $ | 21,773 |
Finished parts |  |  | 47,317 |  |  |  | 54,209 |
Finished products |  |  | 12,206 |  |  |  | 11,405 |
Total net inventories |  | $ | 75,997 |  |  | $ | 87,387 |

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