Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories, net as of December 31, 2022 and 2021 consist of the following (in thousands):

	2022		2021
Raw materials	$	57,174	$	69,371
Finished goods	45,476		62,124
Work in process	9,911		12,779
Inventories, net	$	112,561	$	144,274

In the third quarter of 2022, with the decision to exit the respiratory products business, the company recorded a charge to gross margin totaling $8,651,000, with $5,387,000 increasing the inventory reserve and $3,264,000 for purchase obligations. No significant adjustments were recorded to adjust this estimate in the fourth quarter of 2022.