Inventory

3 Months Ended

Mar. 31, 2012

Inventories as of March 31, 2012 and December 31, 2011 consist of the following:

	March 31, 2012	December 31, 2011
Raw materials	$641	$1,608
Work in process	16,616	10,806
Finished goods	3,360	1,142
	$20,617	$13,556

At March 31, 2012, $6.2 million of inventories were included in prepaid expenses and other current assets and $14.4 million of inventories were included in other assets. At December 31, 2011, $3.5 million of inventories were included in prepaid expenses and other current assets and $10.1 million of inventories were included in other assets.

For the three months ended March 31, 2012, cost of goods sold included inventory write-downs and reserves totaling $1.9 million. For the three months ended March 31, 2011, there were no inventory write-downs or reserves included in cost of goods sold.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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