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INVENTORIES

3 Months Ended

Mar. 31, 2013

NOTE 6—INVENTORIES

At March 31, 2013 and December 31, 2012, inventories consisted of the following (in thousands):

	March 31,		December 31,
	2013		2012
Raw materials	$	12,520	$	11,167
Work-in-process		33,695		35,562
Finished goods		36,857		37,734
Total	$	83,072	$	84,463

Short-term portion	$	74,196	$	72,691
Long-term portion	$	8,876	$	11,772

Inventory at March 31, 2013 includes unamortized fair value step-up in basis of $14.7 million as a result of the Acquisition. Amortization expense on the fair value step-up during the three months ended March 31, 2013 was $4.6 million.

- 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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