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Inventories

12 Months Ended

Dec. 31, 2012

3.	Inventories


	December 31,
(U.S. Dollars, in thousands)	2012		2011
	(Restated)		(Restated)
Raw materials	$	7,623	$	9,894
Work-in-process		7,886		5,606
Finished products		28,308		27,142
Field inventory		22,629		23,237
Consignment inventory		6,155		6,981
Deferred cost of sales		10,772		8,668


	$	83,373	$	81,528

Field inventory represents immediately saleable finished products that are in the possession of the Company’s direct sales representatives. Consignment inventory represents immediately saleable finished products located at third party customers, such as distributors and hospitals. Deferred cost of sales result from transactions where the Company has shipped product or performed services for which all revenue recognition criteria have not yet been met. Once all revenue recognition criteria have been met, the revenues and associated cost of sales are recognized.

- 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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