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Inventories, Net
12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventories, Net

Note 2 – Inventories, Net

Inventories, net

 

 

 

 

December 31,

 

 

 

 

2022

 

 

2021

 

Raw materials

 

 

$

104,872

 

 

$

76,636

 

Work-in-process

 

 

 

14,450

 

 

 

10,117

 

Finished products

 

 

 

41,295

 

 

 

37,216

 

Inventories, gross

 

 

 

160,617

 

 

 

123,969

 

Excess of current cost over LIFO cost

 

 

 

(13,159

)

 

 

(9,462

)

Inventories, net

 

 

$

147,458

 

 

$

114,507

 

 

Costs for inventories of certain material, mainly in the U.S., are determined using the LIFO method and totaled approximately $68.3 million and $44.0 million at December 31, 2022 and 2021, respectively. The Company’s reserves for slow-moving and obsolete inventory at December 31, 2022 and 2021 were $10.8 million and $10.6 million, respectively.