Inventories

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Inventories

Note 3 - Inventories

Inventories, net of reserves, consist of the following:

	June 30, ‎2018			December 31, ‎2017
(in thousands)
Refrigerants and cylinders	$	131,556		$	174,262
Less: reserves		(15,108	)		(1,777	)
Total	$	116,448		$	172,485

During the second quarter of 2018, the Company recorded a $34.7 million lower of cost or net realizable value adjustment to its inventory, which included a $17.6 million write-down of a previously recorded step-up in inventory basis associated with the acquisition of ARI and a $17.1 million write-down for a lower of cost or net realizable value adjustment. The Company’s performance has been negatively impacted by the challenging pricing environment affecting the industry and the market during the second quarter of 2018, leading to an increase in inventory reserves for certain gases. The corresponding reserve release adjusts the cost basis of the inventory to net realizable value.