XML 13 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Inventories
 3 Months Ended
Mar. 31, 2020
Inventory Disclosure [Abstract]  
Inventories Inventories
 
Inventories valued at LIFO cost represented 45% and 42% of total inventory at March 31, 2020 and December 31, 2019, respectively. The excess of current cost over LIFO valued inventories was approximately $10.9 million at March 31, 2020 and December 31, 2019. An actual valuation of inventory under the LIFO method is made only at the end of each year based on the inventory levels and costs at that time.  Accordingly, interim LIFO must be based, to some extent, on management's estimates at each quarter end. Net inventories consist of the following:
(in thousands)
March 31, 2020December 31, 2019
Finished goods
$236,964  $227,823  
Work in process
21,972  21,918  
Raw materials
14,712  17,933  
Inventories, net$273,648  $267,674  
 
Inventory obsolescence reserves were $9.3 million at March 31, 2020 and $8.2 million at December 31, 2019.