Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

	December 31, 2023		December 31, 2022
	(in thousands)
Raw materials	$	9,116	$	18,061
Semi-finished goods	1,343		1,850
Finished goods	61,419		52,044
Subtotal	71,878		71,955
Less: inventory reserve	(350)		(749)
Total inventories	$	71,528	$	71,206

During the year ended December 31, 2023, the Company recorded $3,897,000 of adjustments and write-off related to certain inventory items, including a $1,710,000 write-off of raw materials, as the Company disposed of certain machinery and equipment in executing the strategy to scale back production in certain locations. See Note 16 — Impairment Expense and Loss (Gain), Net, on Disposal of Machinery for further discussion about the disposal of machinery.

During the year ended December 31, 2022, the Company recorded a $3,470,000 write-off of certain inventory items, out of which $879,000 was determined to be out-of-period and was recorded to correct immaterial errors in its previously issued quarterly and annual financial statements.

Inventory adjustments and write-offs are included in cost of goods sold on the accompanying consolidated statements of income.