Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories

6. Inventories

As of June 30, 2022 and December 31, 2021, Inventories consist of the following:

	June 30,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Raw materials	$	27,051	$	20,551
Work-in-process		2,816		1,406
Finished goods		3,555		4,967
	$	33,422	$	26,924

As of June 30, 2022, Inventories include finished goods of $4.5 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 and six months ended June 30, 2022, the Company recorded write-downs of $0.3 million in Costs and Expenses Applicable to Technology Sales principally to reduce the carrying value of service parts held in Russia. In the three and six months ended June 30, 2021, the Company recorded write-downs of $0.1 million and $0.2 million, respectively, in Costs and Expenses Applicable to Technology Sales to reduce the carrying value of excess inventory.