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Inventories | 12 Months Ended
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Dec. 31, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories are as follows (in thousands):
| December 31,
| 2020 |  | 2019
Raw materials | $ | 7,190 |  |  | $ | 4,339 |
Finished goods | 15,705 |  |  | 24,569 |
Inventories | 22,895 |  |  | 28,908 |
Less reserve for excess and obsolete inventory | (11,058) |  |  | (5,698) |
Inventories, net | $ | 11,837 |  |  | $ | 23,210 |
Changes in the reserve for excess and obsolete inventory are as follows (in thousands):
| 2020 |  | 2019 |  |
Balance, beginning of year | $ | 5,698 |  |  | $ | 2,117 |  |  |
Charged to provisions | 12,261 |  |  | 5,659 |  |  |
Deductions for sales and disposals | (6,901) |  |  | (2,078) |  |  |
Balance, end of the year | $ | 11,058 |  |  | $ | 5,698 |  |  |
The Company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on an assessment of market values. Write-downs or write-offs of inventory are charged to cost of goods sold. The provision for excess and obsolete inventory includes charges of $8.4 million for the CT segment and $3.9 million for the DA segment, offset by sales and disposals of $6.9 million, primarily related to terpene sales in 2020. At December 31, 2020, the Company recognized an increase in the reserve for excess and obsolete inventory of $0.4 million due to terpene on hand exceeding anticipated usage. Also see Note 16, “Commitments and Contingencies,” for terpene purchase commitments at December 31, 2020. At December 31, 2019, the Company recorded a reserve for excess terpene of $4.4 million.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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