Inventories

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

6. Inventories

As of March 31, 2022 and December 31, 2021, Inventories consist of the following:

	March 31,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Raw materials	$	21,026	$	20,551
Work-in-process		1,501		1,406
Finished goods		4,805		4,967
	$	27,332	$	26,924

As of March 31, 2022, Inventories include finished goods of $2.1 million (December 31, 2021 —$2.6 million) for which title had passed to the customer, but the criteria for revenue recognition were not met as of the balance sheet date.

During the three months ended March 31, 2022, the Company recognized write-downs of less than $0.1 million for excess and obsolete inventory based on current estimates of net realizable value (2021 — $0.1 million).