Accrued Expenses

12 Months Ended

Dec. 31, 2018

Payables and Accruals [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	December 31,
	2017		2018
Royalties	$	17,854	$	10,245
Inventory liabilities	5,943		7,084
Salaries and employee benefits	4,064		2,891
Professional fees	1,376		1,671
Bonuses	1,914		1,152
Goods in transit	1,669		1,072
Interest expense	1,398		878
Unearned revenue	3,924		561
Sales commissions	663		398
Other	3,340		3,962
	$	42,145	$	29,914

In addition to royalties currently payable on the sale of licensed products during the year, the Company records a liability as accrued royalties for the estimated shortfall in achieving minimum royalty guarantees pursuant to certain license agreements (Note 16).