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Inventories
12 Months Ended
Dec. 31, 2011
Inventories [Abstract]  
Inventories

Note 3—Inventories

At December 31, 2010 and 2011, approximately 37 percent and 29 percent, respectively, of the Company’s inventories had been valued under the LIFO method. Increases in inventory balances in the international segment as well as the inclusion of the consolidated financial statements for COOCSA as a result of the acquisition have caused this percentage to decrease in 2011. The remaining inventories have been valued under the first-in first-out (“FIFO”) or average cost method and all inventories are stated at the lower of cost or market.

Under the LIFO method, inventories have been reduced by approximately $191,180 and $236,532 at December 31, 2010 and 2011, respectively, from current cost which would be reported under the FIFO method.