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Inventories

12 Months Ended

Dec. 31, 2014

12.

INVENTORIES

Inventories, net of reserves were as follows:


	December 31
In thousands		2014		2013
Raw materials	$	61,266	$	59,440
In-process and finished		117,580		109,578
Supplies		69,859		67,292
Total	$	248,705	$	236,310

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 $25.4 million and $24.5 million higher than reported at December 31, 2014 and 2013, 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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