Inventories

12 Months Ended

Dec. 25, 2020

Inventory, Net [Abstract]

Inventories

Inventories

Major components of inventories were as follows (in thousands):

	2020		2019
Finished products and components	$	133,122	$	132,128
Products and components in various stages of completion	83,791		86,957
Raw materials and purchased components	129,319		117,026
Subtotal	346,232		336,111
Reduction to LIFO cost	(60,528)		(62,878)
Total	$	285,704	$	273,233

Inventories valued under the LIFO method were $150.1 million in 2020 and $140.3 million in 2019. All other inventory was valued on the FIFO method.

In 2020, decreases in material costs, including tariffs, offset the impact of increases in certain inventory quantities and drove the LIFO reserve requirement lower. The effect of the LIFO reserve change on net earnings was not significant.