Notes to Consolidated Financial Statements

NOTE 4. INVENTORY
Inventory consists of the following:

  


The preceding amounts include inventory valued under the LIFO method that totaled approximately $11,476,000 and $12,663,000 at December 31, 2003 and 2002, respectively.

NOTE 5. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consists of the following:

  

Depreciation expense totaled approximately $12,637,000, $11,280,000 and $8,468,000 for the years ended December 31, 2003, 2002 and 2001, respectively. Approximately $3,488,000 and $494,000 was included in accounts payable for capital expenditures at December 31, 2003 and 2002, respectively.

NOTE 6. ACCRUED LIABILITIES
Accrued liabilities consists of the following:

  
Included in other accrued liabilities are employee payroll deductions, advance payments, accrued operating expenses, accrued warranty expenses, accrued interest and other items, none of which exceed 5% of total current liabilities.  
 
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