Inventories, Net

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES, NET

Inventories at December 31 consisted of the following (in thousands):

	2023		2022
Raw material	$	77,489	$	111,187
Work-in-process	9,508		17,944
Finished goods	42,942		47,523
Gross inventory	129,939		176,654
Less reserves	(9,436)		(6,294)
Total inventories	$	120,503	$	170,360

The Company's gross inventory balances are reduced by reserves for excess, obsolete and slow moving inventory and estimates for determining net realizable value of the inventory that are reported on a net basis on the Company's consolidated balance sheets.

The following table summarizes activity recorded within the reserve for excess, obsolete and slow moving inventory for the years ended December 31 (in thousands):

	2023		2022		2021
Beginning balance	$	6,179	$	4,400	$	4,161
Excess, obsolete and slow moving inventory expense	4,243		1,582		215
Scrapped inventory and other adjustments	(1,044)		197		24
Ending balance	$	9,378	$	6,179	$	4,400