INVENTORIES

3 Months Ended

Mar. 31, 2024

INVENTORIES

INVENTORIES

10.    INVENTORIES

Inventories consist of (i) raw materials and supplies that are consumed providing services to the Company’s customers, (ii) spare parts for equipment used in providing these services and (iii) components and attachments for manufactured equipment used in providing services. In the table below, spare parts and components are included as part of raw materials and supplies; tools that are assembled using components are reported as finished goods. Inventories are recorded at the lower of cost or net realizable value. Cost is determined using first-in, first-out method or the weighted average cost method.

	March 31,		December 31,
(in thousands)	2024		2023
Raw materials and supplies	$	110,736	$	109,872
Finished goods		1,570		1,032
Ending balance	$	112,306	$	110,904