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Inventory

12 Months Ended

Dec. 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 inventory as of December 31, 2013 and 2012:

	December 31,
(Dollars in thousands)	2013			2012
Finished goods	$	10,370		$	10,272
Valuation adjustment for damaged inventory		(25	)		(25	)
	$	10,345		$	10,247

As of December 31, 2013 and 2012, all of the inventory, totaling $10.4 million and $10.3 million, respectively, was pledged as collateral to secure outstanding balances on Industrial Supply’s line of credit and term loans.

- 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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