XML 24 R14.htm IDEA: XBRL DOCUMENT v3.24.2
Inventories
3 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of the following (in thousands):
June 30,
2024
March 31,
2024
At cost - FIFO basis:
Raw materials$159,998 $151,031 
Work-in-process30,699 26,669 
Finished goods44,464 40,554 
Total at cost FIFO basis235,161 218,254 
LIFO cost less than FIFO cost(34,267)(32,163)
Net inventories$200,894 $186,091 

An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, estimated interim results are subject to change in the final year-end LIFO inventory valuation.