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Inventories
6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
June 30,
2025
December 31,
2024
Raw materials$103,110 $99,320 
Work in progress92,241 71,175 
Finished goods73,938 73,994 
Spares and other32,605 31,948 
301,894 276,437 
Reduction to LIFO cost basis(80,130)(64,051)
Total inventories$221,764 $212,386 

Substantially all of the Company’s inventories at June 30, 2025 and December 31, 2024 are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method. However, approximately 6% was valued at average cost using the first-in, first-out (“FIFO”) method at June 30, 2025.

The excess of replacement cost over the carrying value of total inventories subject to LIFO was $75.9 million and $57.5 million at June 30, 2025 and December 31, 2024, respectively.