Inventories

6 Months Ended

Jun. 30, 2022

Inventories

Inventories

Note 4. 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,
	2022		2021
Raw materials	$	1,948,639	$	1,870,300
Supplies		585,805		552,616
Work in progress		388,830		402,207
Finished goods		723,787		706,007
Total inventories	$	3,647,061	$	3,531,130