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OTHER LONG TERM ASSETS
 12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER LONG TERM ASSETS

5. OTHER LONG TERM ASSETS

 

Other long term assets were as follows on December 31:

 

   2022   2021 
   (in thousands) 
Inventories  $4,261   $- 
Cash surrender value of life insurance policies   1,546    1,651 
Other   64    51 
Other Long Term Assets  $5,871   $1,702 

 

The Company maintains inventories, which are estimated to be used beyond the next twelve months, mainly for the new corrugated medical tubing (“CMT”) products. Higher amounts of materials for the new CMT products were initially purchased for cost considerations and because of longer required lead times.

 

The cash surrender value of life insurance policies where the Company is beneficiary is further described in Note 11, Commitments and Contingencies.