Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined on the last-in, first-out (LIFO) basis for most U.S. inventories and the first-in, first-out (FIFO) basis for most non-U.S. inventories. Inventories at March 31, 2018 and December 31, 2017 consisted of the following:



	March 31, 2018			December 31, 2017
Raw materials	$	29,150		$	30,166
Work in process	7,127			4,981
Supplies and service parts	46,049			45,366
Finished products	26,497			21,765
Inventory at FIFO cost	108,823			102,278
Excess of FIFO cost over LIFO cost	(12,599		)	(12,599		)
Total inventory, net	$	96,224		$	89,679