Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

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INVENTORY
6 Months Ended
Jun. 30, 2021
INVENTORY  
INVENTORY

NOTE E — INVENTORY

Following are the major classes of inventory as of the below dates (in thousands):

    

June 30, 2021

    

December 31, 2020

Used serviceable materials

$

62,302

$

63,277

Work-in-process

20,518

20,611

Whole assets

89,122

56,767

$

171,942

140,655

Less short term

 

(110,436)

 

(85,192)

Long term

$

61,506

$

55,463

The Company recorded an inventory reserve of $4.8 million for the three and six months ended June 30, 2021, and an inventory reserve of $12.9 million for the three and six months ended June 30, 2020. These amounts are included in cost of products in the accompanying condensed consolidated statements of operations, due to the Company’s evaluation of the inventory’s net realizable value.

The Company recorded inventory scrap loss reserves of $0.2 million and $0.1 million for the three months ended June 30, 2021 and 2020, respectively. The Company recorded inventory scrap loss reserves of $0.2 million and $0.5 million for the six months ended June 30, 2021 and 2020, respectively, each of which was included in cost of products in the accompanying condensed consolidated statements of operations.