Financial Statement Information Inventories (Policies)

9 Months Ended

Sep. 30, 2020

Inventories

Inventories consist of the following (in thousands):


	September 30,		December 31,
	2020		2019
Aftermarket and refurbished products	$	1,862,044	$	2,297,895
Salvage and remanufactured products	364,082		447,908
Manufactured products	19,720		26,974
Total inventories	$	2,245,846	$	2,772,777

Aftermarket and refurbished products and salvage and remanufactured products are primarily composed of finished goods. As of September 30, 2020, manufactured products inventory was composed of $15 million of raw materials, $3 million of work in process, and $1 million of finished goods. As of December 31, 2019, manufactured products inventory was composed of $17 million of raw materials, $3 million of work in process, and $6 million of finished goods.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details