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Inventories

12 Months Ended

Dec. 31, 2011

3.	INVENTORIES:

Inventories are stated at the lower of cost or market and consist of the following (in thousands):


	December 31,
	2011		2010
Short-term inventories:
Raw materials	$	65,511	$	58,610
Work-in-process		3,543		2,521
Finished goods		35,000		17,566
Supplies		3,115		2,190

		107,169		80,887
Long-term inventories:
Finished goods		2,401		2,554

Total inventories	$	109,570	$	83,441

Long-term inventories are recorded in other assets. The lower of cost or market adjustment for all inventories was $3.4 million and $4.5 million at December 31, 2011 and 2010, respectively.

- 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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