NOTE B – OTHER FINANCIAL STATEMENT INFORMATION

Inventories – net


	June 30, 2015			December 31, 2014
Finished products	$	41,034		$	41,634
Work-in-process		8,980			7,964
Raw materials		38,089			40,423

		88,103			90,021
Excess of current cost over LIFO cost		(4,462	)		(4,471	)
Noncurrent portion of inventory		(5,508	)		(5,513	)

	$	78,133		$	80,037

Cost of inventories for certain material is determined using the last-in-first-out (LIFO) method and totaled approximately $26.6 million at June 30, 2015 and $27 million at December 31, 2014. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must be based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three and six months ended June 30, 2015, the net change in LIFO inventories resulted in a $.1 million charge to Income before income taxes and less than a $.1 million benefit to Income before income taxes, respectively. During the three and six months ended June 30, 2014, the net change in LIFO inventories resulted in a $.1 million benefit to Income before income taxes for each period.

Noncurrent inventory is included in Other assets on the Consolidated Balance Sheets.

Property, plant and equipment - net

Major classes of Property, plant and equipment are stated at cost and were as follows:


	June 30, 2015		December 31, 2014
Land and improvements	$	13,323	$	14,173
Buildings and improvements		74,112		75,587
Machinery and equipment		141,146		144,213
Construction in progress		4,772		3,382

		233,353		237,355
Less accumulated depreciation		135,810		134,824

	$	97,543	$	102,531

Legal proceedings

From time to time, the Company may be subject to litigation incidental to its business. The Company is not a party to any pending legal proceedings that the Company believes would, individually or in the aggregate, have a material adverse effect on its financial condition, results of operations, or cash flows.