INVENTORY AND LONG-TERM PARTS INVENTORY

3 Months Ended

Mar. 31, 2015

The following summarizes our inventory, recorded at the lower of weighted average cost or estimated net realizable value, as of March 31, 2015, and December 31, 2014, respectively (in thousands):



	March 31, 2015		December 31, 2014
Finished goods product inventory	$	39,013	$	44,137
In-process mineral inventory	14,799		19,584
Total product inventory	53,812		63,721
Current parts inventory, net	20,634		20,373
Total current inventory, net	74,446		84,094
Long-term parts inventory, net	17,700		16,366
Total inventory, net	$	92,146	$	100,460

Parts inventories are shown net of any required allowances.

During the three months ended March 31, 2015, and 2014, we recorded charges of approximately $0.4 million and $3.6 million, respectively, as a result of routine assessments of the lower of weighted average cost or estimated net realizable value on our finished goods product inventory.

- 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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