INVENTORIES

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES

9. INVENTORIES

The components of inventories are summarized below:

	December 31,
	2020			2019
Raw materials	$	1,719		$	2,309
Work in process		1,420			2,628
Finished goods		—			46
Provision for excess and obsolete inventory		(736	)		(429	)
Total inventories	$	2,403		$	4,554

Inventories are stated at the lower of cost or a net realizable value determined on a weighted average method. Included in work in process at December 31, 2020 and December 31, 2019 is a net realizable value reserve of approximately $0 and $418, respectively. The reduction in the net realizable value reserve is attributable to the related project being completed and sold during the year ended December 31, 2020. The Company recognized a $546 write down of inventory through cost of goods sold of the T&D Solutions segment during the year ended December 31, 2020 as a result of management’s strategic decisions to rationalize its traditional product offerings and focus on higher margin equipment sales.