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Inventories

12 Months Ended

Dec. 31, 2011

5. Inventories

Inventories are comprised of the following (in thousands):

		September 30,			September 30,
	December 31, 2011			December 31, 2010
Inventories-gross	$	110,087		$	104,029
Impaired inventory		(31,360	)		(31,370	)

		78,727			72,659
Inventories included in other assets		(1,426	)		(1,426	)

	$	77,301		$	71,233

The Company recorded inventory impairment charges of nil, $4.3 million and $1.0 million for the years ended December 31, 2011, 2010 and 2009, respectively. The charge recorded in 2010 related primarily to long-term inventories.

- 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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