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INVENTORIES

12 Months Ended

Dec. 31, 2011

NOTE 5. INVENTORIES

The components of inventories at December 31 are as follows:


	2011			2010
	(Dollars in thousands)
Raw materials	$	191,590		$	133,594
Work-in-process		116,790			83,375
Finished goods		327,810			276,578
Other		13,781			13,938

		649,971			507,485
Adjustment to value inventory at cost on the LIFO method		(95,823	)		(68,949	)

	$	554,148		$	438,536

Inventories include $77.0 million and $75.2 million recorded on the FIFO method at December 31, 2011 and 2010, respectively, and $153.7 million and $53.8 million recorded on the average cost method at December 31, 2011 and 2010, respectively.

- 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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