Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6. INVENTORIES

Inventories consist of the following at June 30, 2020 and December 31, 2019 (in thousands):

	June 30, 2020		December 31, 2019
Raw materials (1)	$	114,884	$	124,171
Work-in-process (1)	73,149		65,392
Finished goods (1)	142,507		138,302
Total	$	330,540	$	327,865

__________

(1)The components of inventory shown in the table above are net of allowance for obsolescence.

Inventory that is in excess of the amount expected to be sold within one year is classified as noncurrent inventory and is not included in the table above. At June 30, 2020 and December 31, 2019, $34.3 million and $29.0 million, respectively, of noncurrent inventory was included in Other assets in the Condensed Consolidated Balance Sheets. As of June 30, 2020 and December 31, 2019, the Company’s Condensed Consolidated Balance Sheets included approximately $25.9 million and $17.6 million, respectively, of capitalized pre-launch inventories related to products that were not yet available to be sold.