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Inventories, net and Deferred Preservation Costs
 3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventories, net and Deferred Preservation Costs Inventories, net and Deferred Preservation Costs
Inventories, net at March 31, 2024 and December 31, 2023 were comprised of the following (in thousands):
March 31,
2024		December 31,
2023
Raw materials and supplies$36,567 $36,907 
Work-in-process12,940 12,687 
Finished goods32,209 32,382 
Total inventories, net $81,716 $81,976 
To facilitate product usage, we maintain consignment inventory of our On-X heart valves at domestic hospital locations and On-X heart valves and aortic stent grafts at international hospital locations. We retain title and control over this consignment inventory until we receive a notification of implantation, at which time we invoice the hospital and recognize revenue. As of March 31, 2024 we had $10.4 million in consignment inventory, with approximately 43% in domestic locations and 57% in international locations. As of December 31, 2023 we had $10.7 million in consignment inventory, with approximately 44% in domestic locations and 56% in international locations.
Total deferred preservation costs were $50.2 million and $49.8 million as of March 31, 2024 and December 31, 2023, respectively.
Inventory and deferred preservation costs obsolescence reserves were $3.0 million as of March 31, 2024 and December 31, 2023.