Inventories

3 Months Ended

Mar. 31, 2012

Inventories

Inventories

Note 7 — Inventories

Inventories are valued at the lower of cost, as generally determined by the first-in, first-out (FIFO) method, or market.  Inventory values using the FIFO method of accounting approximate replacement cost.  Inventories are summarized as follows:

	March 31,		December 31,
(in thousands)	2012		2011
Raw materials and supplies	$	218,978	$	225,263
Work in process and finished goods	462,293		420,795
Total inventories	$	681,271	$	646,058