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Inventories:
3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Inventories [Text Block] Inventories
 
    Inventories are stated at the lower of cost or net realizable value with cost determined using the first-in, first-out method. Inventory costs include material, labor and overhead related to the manufacturing of our products.

Inventories consist of the following (in thousands): 
As of
 March 31, 2022December 31, 2021
Raw materials$232,451 $135,528 
Work in process74,427 36,490 
Finished goods229,436 118,217 
Total inventories$536,314 $290,235 

During the quarter ended March 31, 2022, inventories increased significantly due to the acquisition of Smiths Medical. All acquired inventory was recorded at fair value on January 6, 2022 in accordance with ASC 805, Business Combinations (see Note 3: Acquisitions).