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Inventories
9 Months Ended
Sep. 30, 2023
Inventories  
Inventories

Note 11. Inventories

Inventories consist of the following:

September 30, 

December 31, 

 

2023

2022

 

(in thousands)

 

Raw materials and supplies

    

$

55,180

    

$

47,607

Work in process

 

28,293

 

37,090

Finished goods

 

26,505

 

18,887

Total inventories

$

109,978

$

103,584

Charges of $9.6 million were included in the cost of revenues in the Company’s condensed consolidated statements of operations for the nine months ended September 30, 2023, to adjust the Company’s inventory and related firm purchase commitments to their net realizable value. For the three and nine months ended September 30, 2022, charges of $5.5 million and $14.1 million were included in the cost of revenues, respectively, to adjust the Company’s inventory and related firm purchase commitments to their net realizable value.

Losses on firm purchase commitments related to raw materials on order as of September 30, 2023 and December 31, 2022 were $0.7 million and $2.7 million, respectively, which are recorded in cost of revenues in the Company’s condensed consolidated statement of operations.