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Inventories
12 Months Ended
Dec. 31, 2015
Inventory Disclosure [Abstract]  
Inventories
  5.   INVENTORIES

Inventories are stated at the lower of cost or market value. Cost is based on the weighted average cost by adjusting standard cost to approximate actual manufacturing costs on a quarterly basis; the cost is therefore dependent on the Company’s manufacturing performance. In the case of underutilization of manufacturing facilities, the costs associated with the excess capacity are not included in the valuation of inventories but charged directly to cost of sales.

Reserve for obsolescence is estimated for excess uncommitted inventories based on the previous quarter’s sales, backlog of orders and production plans.

Inventories, net of reserve, consisted of the following:

 

     December 31,
2015
     December 31,
2014
 

Raw materials

     74         73   

Work-in-process

     804         795   

Finished products

     373         401   
  

 

 

    

 

 

 

Total

     1,251         1,269