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INVENTORIES | 6 Months Ended
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Jun. 30, 2023
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories, net consisted of the following:
Dollars in thousands | June 30, 2023 |  | December 31, 2022
Finished goods | $ | 174,603 |  |  | $ | 172,088 |
Work in process | 79,263 |  |  | 70,598 |
Raw materials | 100,427 |  |  | 81,897 |
Total inventories, net | $ | 354,293 |  |  | $ | 324,583 |
Boston Recall In the second quarter of 2023, due to the voluntary recall of Primatrix®, Surgimend®, Revize™, and TissueMend™, the Company recorded a $24.1 million write off of inventory that was no longer able to be sold. Subsequent Event On July 24, 2023, a severe tornado struck the Lelocle, Switzerland area (the “Lelocle Tornado”) causing significant damage to certain inventory held at one of the Company’s storage facilities. There wasn’t any damage to Integra’s manufacturing facility in Switzerland. The extent of damage to the facility is being assessed, however, the Company believes the inventory write-off will not exceed $8 million. The Company maintains insurance coverage for damage to its facilities and inventory, as well as business interruption insurance. The Company is in the process of reviewing these coverages with its insurance carriers. The Company believes there will be a recovery under its insurance policies, however no assurance can be given regarding the amounts, if any, that will be ultimately recovered or when any such recoveries will be made.

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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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