Inventories consisted of the following on a cost basis, net of reserves:
 
 
December 31,
(in thousands)
 
2016
 
2015
Finished goods and parts
 
$
116,667

 
$
129,995

Work in process
 
9,431

 
9,561

Raw materials
 
9,662

 
11,202

 
 
$
135,760

 
$
150,758