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Inventories
3 Months Ended
Mar. 31, 2014
Inventories  
Inventories

Note 3.  Inventories

 

Inventories are stated at lower of cost or market.  Cost is determined using a weighted average cost method for scrap, and on a first-in, first-out basis for other inventory.  Inventory consisted of the following (in thousands):

 

 

 

March 31,

 

December 31,

 

 

 

2014

 

2013

 

Raw materials

 

$

615,776

 

$

660,384

 

Supplies

 

292,119

 

293,533

 

Work in progress

 

112,504

 

84,710

 

Finished goods

 

311,702

 

276,120

 

Total inventories

 

$

1,332,101

 

$

1,314,747