Inventories

3 Months Ended

Jan. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Note 5.  Inventories

Inventories (short and long-term) as of January 31, 2021 and October 31, 2020 consisted of the following (in thousands):

	January 31,			October 31,
	2021			2020
Raw materials	$	25,776		$	21,726
Work-in-process (1)		40,711			38,231
Inventories		66,487			59,957
Inventories - short-term		(61,901	)		(50,971	)
Inventories - long-term (2)	$	4,586		$	8,986

(1) Work-in-process includes the standard components of inventory used to build the typical modules or module components that are intended to be used in future project asset construction or power plant orders or for use under the Company’s service agreements. Included in work-in-process as of January 31, 2021 and October 31, 2020 was $26.7 million and $19.6 million, respectively, of completed standard components and modules.

(2) Long-term inventory includes modules that are contractually required to be segregated for use as replacement modules for specific project assets.

Raw materials consist mainly of various nickel powders and steels, various other components used in producing cell stacks and purchased components for balance of plant. Work-in-process inventory is comprised of material, labor, and overhead costs incurred to build fuel cell stacks and modules, which are subcomponents of a power plant.

The Company incurred costs associated with excess plant capacity and manufacturing variances of $2.0 million and $1.7 million for the three months ended January 31, 2021 and 2020, respectively, which were included within product cost of revenues on the Consolidated Statements of Operations and Comprehensive Loss.