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Balance Sheet Components
6 Months Ended
Jun. 30, 2022
Notes To Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventories consist of the following (in thousands):
June 30,
2022
December 31,
2021
Raw materials$159,037 $123,234 
Work in process82,292 51,706 
Finished goods68,717 55,290 
Total inventories$310,046 $230,230 

Prepaid expenses and other current assets consist of the following (in thousands):
June 30,
2022
December 31,
2021
Value added tax receivables$110,988 $93,610 
Prepaid expenses61,628 70,218 
Other current assets62,649 31,477 
Total prepaid expenses and other current assets$235,265 $195,305 

Accrued liabilities consist of the following (in thousands): 
June 30,
2022
December 31,
2021
Accrued payroll and benefits$152,849 $288,355 
Accrued expenses74,281 67,169 
Accrued sales and marketing expenses37,250 41,387 
Accrued property, plant and equipment35,563 46,561 
Current operating lease liabilities24,613 22,719 
Accrued professional fees18,433 31,457 
Other accrued liabilities73,470 109,667 
Total accrued liabilities$416,459 $607,315 

Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands):
Six Months Ended
June 30,
 20222021
Balance at beginning of period$16,169 $12,615 
Charged to cost of net revenues7,660 8,936 
Actual warranty expenditures(7,334)(7,105)
Balance at end of period$16,495 $14,446 

Deferred revenues consist of the following (in thousands):
June 30,
2022
December 31,
2021
Deferred revenues - current$1,242,348 $1,152,870 
Deferred revenues - long-term 1
$155,510 $136,684 

1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheet

During the three months ended June 30, 2022 and 2021, we recognized $969.6 million and $1,010.8 million of net revenues, respectively, of which $178.4 million and $134.4 million was included in the deferred revenues balance at December 31, 2021 and 2020, respectively.

During the six months ended June 30, 2022 and 2021, we recognized $1,942.8 million and $1,905.6 million of net revenues, respectively, of which $363.3 million and $260.2 million was included in the deferred revenues balance at December 31, 2021 and 2020, respectively.
Our unfulfilled performance obligations, including deferred revenues and backlog, as of June 30, 2022 were $1,409.4 million. These performance obligations are expected to be fulfilled over six months to five years.