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Inventories
12 Months Ended
Dec. 30, 2023
Inventory Disclosure [Abstract]  
Inventories

D. Inventories

 

Inventories consisted of the following as of:

 

 

 

December 30,
2023

 

 

December 31,
2022

 

 

 

(in thousands)

 

Current inventory:

 

 

 

 

 

 

Raw materials

 

$

55,116

 

 

$

81,225

 

Work in process

 

 

18,750

 

 

 

20,374

 

Finished goods

 

 

41,907

 

 

 

46,851

 

Total current inventory

 

 

115,773

 

 

 

148,450

 

Long term inventory

 

 

14,369

 

 

 

13,192

 

Total inventory

 

$

130,142

 

 

$

161,642

 

 

As of December 30, 2023 and December 31, 2022, the Company has recorded inventory obsolescence reserves of $7.6 million and $22.0 million, respectively. The reduction in inventory obsolescence reserves was primarily driven by the destruction of previously reserved inventory and improved supply chain processes that resulted in less obsolescence in fiscal 2023.