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Inventories

12 Months Ended

Dec. 31, 2013

11.

INVENTORIES

Inventories, net of reserves were as follows:


	December 31
In thousands		2013		2012
Raw materials	$	59,440	$	61,084
In-process and finished		109,578		102,331
Supplies		67,292		58,951
Total	$	236,310	$	222,366

We value all of our U.S. inventories, excluding supplies, on the LIFO method. If we had valued these inventories using the first-in, first-out method, inventories would have been $24.5 million and $22.4 million higher than reported at December 31, 2013 and 2012, 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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