Inventories

12 Months Ended

Dec. 31, 2022

Inventories

Inventories

Note 3. Inventories

The components of inventory are summarized below (in thousands):

	December 31,		December 31,
	2022		2021
Inventories:
Raw materials	$	46,476	$	29,658
Work in process		39,956		32,605
Finished goods		3,197		3,649
	$	89,629	$	65,912

As of December 31, 2022 and 2021, carrying values of inventories were net of inventory reserves of $24.7 million and $19.6 million, respectively, for excess and obsolete inventory and $47,000 and $66,000, respectively, for lower of cost or net realizable value reserves.