Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost is determined by the first-in, first-out (“FIFO”) method. We establish an allowance for excess and obsolete inventories based on product line changes, the feasibility of substituting parts and the need for supply and replacement parts.

The components of inventories and related changes in the allowance for excess and obsolete inventories account are as follows:

	June 30, 2022		December 31, 2021
	(in thousands)
Raw materials	$	156,265	$	124,480
Work in process	3,534		3,049
Finished goods	6,073		4,528
Total, gross	165,872		132,057
Less:  Allowance for excess and obsolete inventories	(1,871)		(1,787)
Total, net	$	164,001	$	130,270

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Allowance for excess and obsolete inventories:	(in thousands)
Balance, beginning of period	$	2,007	$	2,304	$	1,787	$	3,261
Provision for (recovery of) excess and	(72)		486		148		292
obsolete inventories
Inventories written off	(64)		(64)		(64)		(827)
Balance, end of period	$	1,871	$	2,726	$	1,871	$	2,726