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Inventories
9 Months Ended
Oct. 02, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories on the Consolidated Balance Sheets are summarized as follows:
October 2,December 31,
(Thousands)20262025
Raw materials and supplies$114,609 $108,040 
Work in process301,168 298,695 
Finished goods70,166 54,496 
Inventories, net$485,943 $461,231 
The Company maintains the majority of the precious metals and copper and nickel used in production on a consignment basis in order to reduce its exposure to metal market price movements and to reduce its working capital investment. The notional value of off-balance sheet precious metals, copper and nickel was $589.9 million and $526.2 million as of October 2, 2026 and December 31, 2025, respectively.