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INVENTORY

3 Months Ended

Mar. 31, 2013

NOTE 6 — INVENTORY

Inventory consists of electrical components, primarily new electrical circuit breakers for use in commercial, industrial and residential applications. The following table presents the composition of the Company’s inventories as of:


(Dollars in thousands)	March 31, 2013			December 31, 2012
Finished goods	$	10,961		$	10,272
Valuation adjustment for damaged inventory		(25	)		(25	)

	$	10,936		$	10,247

At March 31, 2013 and December 31, 2012, Industrial Supply’s inventory, totaling $11.0 million and $10.3 million, respectively, was pledged as collateral to secure outstanding balances on the Company’s line of credit and term loan.

- 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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