Inventories

Inventories are stated at the lower of cost or market. Cost is determined on the last-in, first-out (LIFO) basis for most U.S. inventories and on the first-in, first-out (FIFO) basis for most non-U.S. inventories. Inventories at March 31, 2016 and December 31, 2015 consisted of the following:



	March 31, 2016			December 31, 2015
Raw materials	$	29,173		$	25,803
Work in process	12,304			6,408
Supplies and service parts	44,592			44,323
Finished products	26,612			24,618
Inventory at FIFO cost	112,681			101,152
Excess of FIFO cost over LIFO cost	(12,328		)	(12,328		)
Total inventory, net	$	100,353		$	88,824