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Accrued Expenses
 9 Months Ended
Sep. 30, 2022
Payables and Accruals [Abstract]  
Accrued Expenses Accrued Expenses
A summary of the components of accrued expenses is as follows (in thousands):
 September 30, 2022December 31, 2021
Accrued vendor liabilities$88,828 $67,293 
Order deposits4,810 — 
Accrued professional fees2,595 3,579 
Accrued payroll1,681 1,989 
Accrued interest695 6,165 
Accrued other824 608 
Total accrued expenses$99,433 $79,634 
Accrued expenses include amounts owed to vendors but not yet invoiced in exchange for vendor purchases, research and development services, and order deposits. Certain estimates of accrued vendor expenses are based on costs incurred to date.
Order Deposits

In the third quarter of 2022, the Company began accepting order deposits of $5,000 USD or equivalent currency for Fisker Ocean Ones, a limited-edition trim level of the Fisker Ocean. The Company also converted customer deposits for reservation holders who previously made a deposit for an Extreme, Ultra or Sport Ocean prior to August 16, 2022, the enactment date of the Inflation Reduction Act of 2022 (the "Inflation Reduction Act"). Order deposits will be applied to the sales price of the vehicle and recognized as revenue when the vehicle is sold and delivered to the customer. Order Deposits are not included in customer deposits.
On July 1, 2022, the Company entered into a contract for global payment processing agreement with JPMorgan Chase Bank, N.A. (“Chase”). Order Deposits paid directly to the Company via ACH or other direct payment mechanisms are received in the Company’s bank account and available for its use in the subsequent month after the month in which the Order Deposits were placed. For Order Deposits made through credit card transactions, Chase holds cash received from customers until the vehicle is delivered to the customer at which time the cash is deposited into the Company’s bank account and available for its use. Cash received from Order Deposits and the conversion of any customer deposit results in the recognition of a contract liability. As of September 30, 2022, contract liabilities totaled $4.8 million and were classified as current liabilities, included in “Accrued Expenses” on the consolidated balance sheet.