Inventories

9 Months Ended

Sep. 30, 2019

Inventories

Inventories

Note 5. Inventories

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

	September 30,		December 31,
	2019		2018
Raw materials	$	758,677	$	810,766
Supplies		492,604		436,828
Work in progress		156,443		195,224
Finished goods		359,296		416,350
Total inventories	$	1,767,020	$	1,859,168