INVENTORY	3 Months Ended
Mar. 31, 2024
INVENTORY
INVENTORY	9. INVENTORY Inventory consisted of raw material of natural flake graphite concentrate provided by a third-party vendor totaling $5.0 million and $2.8 million as of March 31, 2024 and 2023, respectively. The full amount of inventory is within the “Other long-term assets” line item on the Condensed Consolidated Balance Sheets. The Company values the natural flake graphite concentrate at the lower of cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term graphite prices, less the estimated costs to complete production and bring the product to sale. Write-downs of the natural flake graphite concentrate to net realizable value are reported as a component of costs applicable to sales. The Company reviews and evaluates the net realizable value and obsolescence on an annual basis or more frequently when events or changes in circumstances indicate that the related net realizable amounts may be lower than cost. For the three months ended March 31, 2024 and 2023, there were no write downs of the Company’s inventory.

INVENTORY

3 Months Ended

Mar. 31, 2024

9. INVENTORY

Inventory consisted of raw material of natural flake graphite concentrate provided by a third-party vendor totaling $5.0 million and $2.8 million as of March 31, 2024 and 2023, respectively. The full amount of inventory is within the “Other long-term assets” line item on the Condensed Consolidated Balance Sheets. The Company values the natural flake graphite concentrate at the lower of cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term graphite prices, less the estimated costs to complete production and bring the product to sale. Write-downs of the natural flake graphite concentrate to net realizable value are reported as a component of costs applicable to sales. The Company reviews and evaluates the net realizable value and obsolescence on an annual basis or more frequently when events or changes in circumstances indicate that the related net realizable amounts may be lower than cost. For the three months ended March 31, 2024 and 2023, there were no write downs of the Company’s inventory.