Additional Financial Statement Information

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Statement Information

The caption “Other” on the consolidated statements of operations consists of the following (in thousands):


	Years ended December 31,
	2021		2020		2019
Foreign exchange loss	$	(110)	$	(2,246)	$	(1,638)
Interest income	252		246		622
Pension expense	(468)		(738)		(643)
Other	96		(244)		958
	$	(230)	$	(2,982)	$	(701)

Foreign currency exchange gains and losses represent the impact of changes in foreign currency exchange rates. The change in foreign exchange gains / (losses) for the year ended December 31, 2021, as compared to the prior year period, is primarily due to fluctuations in the Israeli shekel. Additionally in 2021, there were favorable foreign exchange impacts from the Japanese yen and the Canadian dollar.

Foreign currency exchange gains and losses represent the impact of changes in foreign currency exchange rates. The change in foreign exchange gains / (losses) for the year ended December 31, 2020, as compared to the prior year period, was primarily due to fluctuations in the Israeli shekel. The change in the dollar-shekel exchange rate, particularly in the fourth quarter of 2020, resulted in an unfavorable foreign exchange impact primarily related to the shekel-denominated lease liability for a new Sensors facility in Israel.

Pension expense represents the net periodic benefit cost excluding the service cost.

Included in Other for the year ended December 31, 2019, is a one-time $0.8 million gain on liquidation of one of the Company's subsidiaries.

Other accrued expenses consist of the following (in thousands):


	December 31,
	2021		2020
Customer advance payments	$	4,765	$	2,873
Accrued restructuring	—		63
Goods received, not yet invoiced	2,998		2,553
Accrued taxes, other than income taxes	1,425		1,223
Accrued commissions	2,605		2,144
Accrued professional fees	1,336		1,169
Accrued technical warranty	761		780
Current accrued pension and other post retirement costs	709		611
Other	2,997		2,427
	$	17,596	$	13,843

Israeli Severance Pay

The Israeli Severance Pay Law, 1963 ("Severance Pay Law"), specifies that employees of our Israeli subsidiary are entitled to severance payment, following the termination of their employment. Under the Severance Pay Law, the severance payment is calculated as one month salary for each year of employment, or a portion thereof.

Part of the subsidiary's liability for severance pay is covered by the provisions of Section 14 of the Severance Pay Law ("Section 14"). Under Section 14, employees are entitled to monthly deposits, at a rate of 8.33% of their monthly salary, contributed on their behalf to their insurance funds. Payments in accordance with Section 14 release the subsidiary from any future severance payments in respect of those employees. As a result, the Company does not recognize any liability for severance pay due to these employees and the deposits under Section 14 are not recorded as an asset in the Company's balance sheet.

For the subsidiary's employees in Israel who are not subject to Section 14, the Company calculated the liability for severance pay pursuant to the Severance Pay Law based on the most recent salary of these employees multiplied by the number of years of employment as of the balance sheet date. The Company recorded as expenses the increase in the severance liability, net of earnings (losses) from the related investment fund. The subsidiary's liability was partially funded by monthly payments deposited with insurers and the value of these deposits is recorded as an asset on the Company's balance sheet. Any unfunded amounts would be paid from operating funds and are covered by a provision established by the subsidiary. The accompanying consolidated balance sheets at December 31, 2021 and December 31, 2020 include a $8.4 million and $8.3 million liability, respectively, associated with Israeli severance requirements in other liabilities.