Inventories

6 Months Ended

Jun. 30, 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:

	June 30, 2023		December 31, 2022
	(in thousands)
Raw materials	$	210,937	$	194,159
Work in process	4,087		3,501
Finished goods	5,665		5,806
Total, gross	220,689		203,466
Less:  Allowance for excess and obsolete inventories	(5,281)		(4,527)
Total, net	$	215,408	$	198,939

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Allowance for excess and obsolete inventories:	(in thousands)
Balance, beginning of period	$	4,748	$	2,007	$	4,527	$	1,787
Provision for (recoveries of) excess and	794		(72)		1,458		148
obsolete inventories
Inventories written off	(261)		(64)		(704)		(64)
Balance, end of period	$	5,281	$	1,871	$	5,281	$	1,871