INVENTORIES

6 Months Ended

Jun. 30, 2011

4. INVENTORIES

Inventories consisted of the following (in thousands):

	June 30,			December 31,
	2011			2010
Raw materials	$	90,020		$	56,414
Work-in-process		25,249			16,860
Finished goods		77,804			59,680
		193,073			132,954
Adjustment to LIFO basis		(9,310	)		(4,972	)
	$	183,763		$	127,982

At June 30, 2011, approximately 31% of the Company’s inventories were valued under the last-in, first-out (LIFO) method. At December 31, 2010, approximately 36% of the Company’s inventories were valued under the LIFO method. The remaining inventories were valued under the first-in, first-out (FIFO) method or average cost method. All inventories are valued at lower of cost or market. Included in the inventory balances were provisions for slow-moving and obsolete inventory of $8.3 million at June 30, 2011, and $7.4 million at December 31, 2010.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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