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Inventory | 9 Months Ended
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Sep. 30, 2023
Inventory Disclosure [Abstract] |
Inventory | 7. INVENTORY Inventory consisted of the following:
|  | As of |  |  | As of |
(In thousands) |  | September 30, 2023 |  |  | December 31, 2022 |
Raw materials |  | $ | 156,287 |  |  | $ | 186,346 |
Work in process |  |  | 15,648 |  |  |  | 12,087 |
Finished goods |  |  | 202,036 |  |  |  | 229,098 |
Total inventory, net |  | $ | 373,971 |  |  | $ | 427,531 |
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 September 30, 2023 and December 31, 2022, inventory reserves were $86.3 million and $57.0 million, respectively. In connection with the Company’s restructuring efforts, during the quarter ended September 30, 2023, management determined that there would be a discontinuation of product lines in the Network solutions segment and, as a result, wrote-down related inventories of $21.0 million and is included in cost of revenue in the Condensed Consolidated Statements of Loss. There was no write-down of inventory during the three and nine months ended September 30, 2022.

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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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