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Inventory and Other Current Assets
3 Months Ended
Mar. 31, 2012
Inventory and Other Current Assets [Abstract]  
Inventory and Other Current Assets

(5) Inventory and Other Current Assets

Inventory and other current assets includes approximately $133.2 million and $83.1 million of inventory at March 31, 2012 and December 31, 2011, respectively. Our inventory balance at March 31, 2012 consisted of approximately $58.5 million of finished goods, $4.7 million of work-in-process, $4.5 million of raw materials and $65.5 million of supplies and consumables. Our inventory balance at December 31, 2011 consisted of approximately $39.0 million of finished goods, $2.3 million of work-in-process, $5.4 million of raw materials and $36.4 million of supplies and consumables. Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) or weighted-average cost methods for finished goods and work-in-process. Supplies and consumables consist principally of products used in our services provided to customers.

Additionally, inventory and other current assets include approximately $132.4 million and $133.4 million of costs incurred and estimated earnings in excess of billings on uncompleted contracts at March 31, 2012 and December 31, 2011, respectively. The Company follows the percentage-of-completion method of accounting for applicable contracts.