Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.20.1
INVENTORIES
12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES
Inventories include the following at December 31:
 
 
 
 
2019

 
2018

 
(thousands of dollars)
Raw material
$
2,100

 
$
4,742

Work in process
142

 
173

Finished products
11,382

 
11,624

Total inventory
$
13,624

 
$
16,539


Inventory serves as collateral for our amended and restated loan agreement with a domestic bank (see Note 13).
Inventory included products in transit valued at approximately $2.9 million and $4.1 million at December 31, 2019 and 2018, respectively.