INVENTORIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES | INVENTORIES
Inventories at December 31 are as follows:
At December 31, 2024, the Company’s reserve for inventory valuation was $43.3 million, or 17.8% of gross inventory. At December 31, 2023, the Company’s reserve for inventory valuation was $38.5 million, or 16.7% of gross inventory.
As further described in Note 1, Summary of Significant Accounting Principles and Practices, the Company recorded a $1.7 million and $3.6 million reduction in inventory for customer bankruptcies within the Aerospace segment in 2024 and 2023, respectively.
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- References No definition available.
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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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