Inventories

6 Months Ended

Jun. 30, 2020

Inventories

Inventories

Note 3. 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):

	June 30,		December 31,
	2020		2019
Raw materials	$	589,122	$	686,831
Supplies		483,323		498,298
Work in progress		150,139		154,669
Finished goods		344,433		349,245
Total inventories	$	1,567,017	$	1,689,043