
	December 31, 2022		December 31, 2021
Raw materials	$	610	$	1,763
Work-in-process	7,892		62,635
Finished goods	13,676		14,661
Total inventories	$	22,178	$	79,059

Long-term inventory, which primarily consists of raw materials and work-in-process, is included in other assets in the Company’s consolidated balance sheets. The following is a reconciliation of inventory reported in the consolidated balance sheet (in thousands):


Balance Sheet Classification:	December 31, 2022		December 31, 2021
Inventories	$	21,568	$	36,628
Other assets	610		42,431
Total inventories	$	22,178	$	79,059

Inventory amounts written down as a result of excess, obsolescence, scrap or other reasons and charged to cost of goods sold totaled $30.2 million, $15.0 million, and $20.6 million during the years ended December 31, 2022, 2021, and 2020, respectively. The increase in inventory amounts written down for the year ended December 31, 2022 as compared to the year ended December 31, 2021 was primarily due to higher write-downs to inventory reserves related to Auryxia drug substance that will not be forward processed into drug product. In addition, there were $0 million, $8.7 million, and $11.4 million in related step-up charges during the years ended December 31, 2022, 2021, and 2020, respectively.

If future sales of Auryxia are lower than expected, the Company may be required to write-down the value of such inventories. Inventory write-downs and losses on purchase commitments are recorded as a component of cost of sales in the consolidated statement of operations.