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Inventories

6 Months Ended

Jun. 30, 2012

Notes To Financial Statements [Abstract]

Inventories are composed of material, labor and overhead and are stated at the lower of cost or market. Costs for inventory at two of the company's manufacturing facilities have been determined using the last-in, first-out ("LIFO") method. These inventories under the LIFO method amounted to $18.9 million at June 30, 2012 and $18.6 million at December 31, 2011 and represented approximately 14.4% and 15.0% of the total inventory in each respective period. Costs for all other inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at June 30, 2012 and December 31, 2011 are as follows:



	Jun 30, 2012		Dec 31, 2011
	(in thousands)
Raw materials and parts	$	76,714	$	69,576
Work-in-process	17,454		15,204
Finished goods	37,132		39,261
	131,300		124,041
LIFO reserve	259		259
	$	131,559	$	124,300

- 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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