Inventories

3 Months Ended

Mar. 31, 2023

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:

	March 31, 2023		December 31, 2022
	(in thousands)
Raw materials	$	194,668	$	194,159
Work in process	4,338		3,501
Finished goods	5,321		5,806
Total, gross	204,327		203,466
Less:  Allowance for excess and obsolete inventories	(4,748)		(4,527)
Total, net	$	199,579	$	198,939

	Three Months Ended
	March 31, 2023		March 31, 2022
Allowance for excess and obsolete inventories:	(in thousands)
Balance, beginning of period	$	4,527	$	1,787
Provision for excess and obsolete	664		220
inventories
Inventories written off	(443)		—
Balance, end of period	$	4,748	$	2,007