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Inventory

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventory

Note 6 – Inventory

As of December 31, 2023 and 2022, inventory, net was comprised of the following:

(In thousands)		2023				2022
Raw materials		$	152,140			$	186,346
Work in process			17,239				12,087
Finished goods			192,916				229,098
Total Inventory, net		$	362,295			$	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 consider historical usage, known trends, inventory age and market conditions. As of December 31, 2023 and 2022, our inventory reserve was $83.1 million and $57.0 million, respectively.

In connection with the Company’s restructuring efforts, for the year ended December 31, 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 $24.3 million, which is included in cost of revenue in the Condensed Consolidated Statements of Loss.

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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

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