INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories at December 31 are as follows:

(In thousands)	2023		2022
Finished Goods	$	29,013	$	30,703
Work in Progress	32,118		29,895
Raw Material	130,670		127,385
Total Inventories	$	191,801	$	187,983

At December 31, 2023, the Company’s reserve for inventory valuation was $38.5 million, or 16.7% of gross inventory. At December 31, 2022, the Company’s reserve for inventory valuation was $36.8 million, or 16.4% of gross inventory.

In November 2023, a non-core contract manufacturing customer reported within the Aerospace segment filed for bankruptcy under Chapter 11. As a result, the Company recorded a full reserve of $3.6 million for dedicated inventory.