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Inventories

3 Months Ended

Mar. 31, 2014

The components of inventories as of March 31, 2014 and December 31, 2013 were:



	March 31, 2014		December 31, 2013
Raw materials and component parts	$	139,522	$	133,470
Work in process	43,400		41,895
Finished goods	61,253		55,602
Total	$	244,175	$	230,967

Inventories are stated at the lower of cost or market. Cost, which includes material, labor, and factory overhead, is determined on a FIFO basis.

- 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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