Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories are comprised of the following: 

	June 30, 2024		December 31, 2023
	(Dollars in thousands)
Inventories:
Raw materials and supplies	$	98,079	$	109,084
Work in process	165,488		186,473
Finished goods	41,219		34,589
Total	$	304,786	$	330,146

In the first six months of 2024 and for the full year of 2023, we recorded lower of cost or market (“LCM”) inventory valuation adjustments of $4.1 million and $12.4 million, respectively, in order to state our inventories at market. As of June 30, 2024 and December 31, 2023, the carrying value of our inventory reflected total write-downs of $5.1 million and $12.4 million, respectively, due to the impact of the LCM adjustments.