Inventories

12 Months Ended

Dec. 31, 2023

Inventories

Inventories

Note 3. Inventories

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

	December 31,		December 31,
	2023		2022
Inventories:
Raw materials	$	32,910	$	46,476
Work in process		50,008		39,956
Finished goods		3,585		3,197
	$	86,503	$	89,629

As of December 31, 2023 and 2022, carrying values of inventories were net of inventory reserves of $21.9 million and $24.7 million, respectively, for excess and obsolete inventory and $78,000 and $47,000, respectively, for lower of cost or net realizable value reserves.