NOTE 8. INVENTORIES

Inventories consist of the following at September 30, 2018 and December 31, 2017 (in thousands):



	September 30, 2018		December 31, 2017
Raw materials (1)	$	119,627	$	124,685
Work-in-process (1)	83,665		109,897
Finished goods (1)	129,495		156,855
Total	$	332,787	$	391,437

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(1) The components of inventory shown in the table above are net of allowance for obsolescence.

Inventory that is in excess of the amount expected to be sold within one year, which relates primarily to XIAFLEX^® inventory, is classified as long-term inventory and is not included in the table above. At September 30, 2018 and December 31, 2017, $13.3 million and $17.1 million, respectively, of long-term inventory was included in Other assets in the Condensed Consolidated Balance Sheets. As of September 30, 2018 and December 31, 2017, the Company’s Condensed Consolidated Balance Sheets included approximately $13.6 million and $5.9 million, respectively, of capitalized pre-launch inventories related to generic products that were not yet available to be sold.