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INVENTORIES
3 Months Ended
Mar. 31, 2015
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]
INVENTORIES

Inventories consisted of the following (amounts in thousands):
 
March 31,
2015
 
December 31,
2014
Raw material
$
98,833

 
$
119,989

Work-in-process
41,218

 
41,073

Finished goods
177,563

 
179,998

 
317,614

 
341,060

Adjustment to LIFO basis
(10,296
)
 
(9,628
)
 
$
307,318

 
$
331,432


 
At March 31, 2015, approximately 10% of the Company's inventories were valued under the last-in, first-out (LIFO) method. At December 31, 2014, approximately 11% 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.