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Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

			June 30, 2023						December 31, 2022
Raw materials			$	125,162					$	126,060
Work in progress			73,417						64,669
Finished goods			92,824						60,711
Spares and other			30,894						28,892
			322,297						280,332
Reduction to LIFO cost basis			(96,311)						(64,830)
Total inventories			$	225,986					$	215,502

Substantially all of the Company’s inventories at June 30, 2023 and December 31, 2022 are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method. However, approximately 7% was valued at average cost using the first-in, first-out (“FIFO”) method at June 30, 2023.

The excess of replacement cost over the carrying value of total inventories subject to LIFO was $67.2 million and $58.2 million at June 30, 2023 and December 31, 2022, respectively.

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- References

No definition available.

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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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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