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Inventory
6 Months Ended
Jun. 30, 2022
Inventory Disclosure [Abstract]  
Inventory

7. INVENTORY

Inventory consisted of the following:

 

 

 

As of

 

 

As of

 

(In thousands)

 

June 30, 2022

 

 

December 31, 2021

 

Raw materials

 

$

116,307

 

 

$

74,709

 

Work in process

 

 

2,258

 

 

 

2,143

 

Finished goods

 

 

78,351

 

 

 

63,039

 

Total inventory, net

 

$

196,916

 

 

$

139,891

 

 

Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on estimated reserve percentages, which considers historical usage, known trends, inventory age and market conditions. As of June 30, 2022 and December 31, 2021, inventory reserves were $48.9 million and $44.6 million, respectively.