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Inventories

9 Months Ended

Sep. 30, 2013

2. Inventories

Inventories as of September 30, 2013 and December 31, 2012 were as follows:

	September 30,		December 31,
In thousands	2013		2012
Raw materials	$	13,940	$	12,501
Work in process		17,832		12,800
Finished goods		9,621		10,549
		41,393		35,850
Less: Progress billings		(2,817)		(4,558)
Total inventories	$	38,576	$	31,292

Included in work in process is gross tooling inventory of $11.8 million and $8.0 million at September 30, 2013 and December 31, 2012, respectively. Tooling inventory, net of progress billings, was $9.0 million and $3.5 million at September 30, 2013 and December 31, 2012, respectively.

- 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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