NOTE 7. INVENTORIES

Inventories consist of the following at March 31, 2019 and December 31, 2018 (in thousands):



	March 31, 2019		December 31, 2018
Raw materials (1)	$	127,622	$	122,825
Work-in-process (1)	84,801		70,458
Finished goods (1)	118,968		128,896
Total	$	331,391	$	322,179

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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 is classified as noncurrent inventory and is not included in the table above. At March 31, 2019 and December 31, 2018, $9.9 million and $8.1 million, respectively, of noncurrent inventory was included in Other assets in the Condensed Consolidated Balance Sheets. As of March 31, 2019 and December 31, 2018, the Company’s Condensed Consolidated Balance Sheets included approximately $10.5 million and $12.5 million, respectively, of capitalized pre-launch inventories related to generic and sterile injectable products that were not yet available to be sold.