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Inventory | 12 Months Ended
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Dec. 31, 2023
Inventory Disclosure [Abstract] |
Inventory | Inventory Inventory consisted of the following (in thousands):
| December 31,
| 2023 |  | 2022
Raw materials | $ | 6,614 |  |  | $ | 13,912 |
Semi-finished goods | 7,392 |  |  | 21,410 |
Finished goods | 27,690 |  |  | 1,361 |
Total inventory | $ | 41,696 |  |  | $ | 36,683 |
Inventory write-downs as a result of excess, obsolescence, expiry, or other reasons, and losses on firm purchase commitments are recorded as a component of Cost of sales in the consolidated statements of operations. For the year ended December 31, 2023, inventory write-downs were $72.4 million and losses on firm purchase commitments were $73.5 million. In addition, for the year ended December 31, 2023, the Company recorded recoveries on firm purchase commitments of $40.2 million related primarily to negotiated reductions to previously recognized firm purchase commitments. Also, during the year ended December 31, 2023, the Company recorded an impairment charge of $6.1 million in Cost of sales related to an embedded lease agreement with a CMO for production capacity in excess of production needs. For the year ended December 31, 2022, inventory write-downs and losses on firm purchase commitments were $447.6 million and $155.9 million respectively. There were no inventory write-downs or losses on firm purchase commitments during 2021. Inventory reserves for write-downs are relieved when the inventory is disposed of through scrap or sale. Activity in the reserve for excess and obsolete inventory was as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022
Balance at January 1, | $ | 368,383 |  |  | $ | — |
Charged to Cost of sales, including impairments | 72,441 |  |  | 447,597 |
Other additions | 65,049 |  |  | — |
Deductions | (239,814) |  |  | (79,214) |
Balance at December 31, | $ | 266,059 |  |  | $ | 368,383 |
Other additions include receipts of inventory previously recorded as losses on firm purchase commitments.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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