OTHER LONG TERM ASSETS

3 Months Ended

Mar. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER LONG TERM ASSETS

4. OTHER LONG TERM ASSETS

Other long term assets were as follows:

	March 31,		December 31,
	2023		2022
	(in thousands)
Inventories, net	$	4,122	$	4,261
Cash surrender value of life insurance policies		1,591		1,546
Other		58		64
Other Long Term Assets	$	5,771	$	5,871

The Company maintains inventories, net of reserves of $250,000 and $0 as of March 31, 2023 and December 31, 2022, respectively, which are estimated to be used beyond the next twelve months, mainly for the new corrugated medical tubing (“CMT”) products. Higher amounts of materials for the new CMT products were initially purchased for cost considerations and because of longer required lead times.

The cash surrender value of life insurance policies where the Company is beneficiary is further described in Note 6, Commitments and Contingencies.