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Inventories

3 Months Ended

Mar. 31, 2012

2.	Inventories

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


	March 31, 2012		December 31, 2011
Short-term inventories:
Raw materials	$	54,833	$	65,511
Work-in-process		3,576		3,543
Finished goods		37,087		35,000
Supplies		3,116		3,115

		98,612		107,169
Long-term inventories:
Finished goods		2,684		2,401

Total inventories	$	101,296	$	109,570

Long-term inventories are recorded in other assets. The lower of cost or market adjustment was $3.0 million at March 31, 2012 and $3.4 million at December 31, 2011.

- 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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