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INVENTORIES

12 Months Ended

Dec. 31, 2011

NOTE 9—INVENTORIES

Inventories within the Company’s NABCO segment consist of electrical components, primarily new electrical circuit breakers for use in commercial, industrial and residential applications. Inventories within the Company’s Cosmed segment consist of a line of skin care products.

The following table presents the composition of the Company’s inventories as of:


	December 31,
(Dollars in thousands)	2011			2010
Raw materials	$	728		$	—
Work in progress		130			—
Finished goods		8,148			—

		9,006			—
Valuation adjustment for obsolete, damaged and slow-moving inventory		(325	)		—

Inventories	$	8,681		$	—

At December 31, 2011, all of NABCO’s inventories, totaling $7.8 million, are pledged as collateral to secure outstanding balances on its line of credit.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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