Other Liabilities

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Other Liabilities

6. Other Liabilities

Other accrued expenses consist of the following:

	Year Ended December 31,
(in thousands)	2024		2023
Accrued interest payable	$	30,987	$	35,637
Contingent consideration		—		18,355
Operating lease liabilities		13,323		14,573
Accrued income taxes		6,238		3,864
General liability insurance reserve		16,054		12,926
Client deposits		12,906		15,544
Rebates due to retailers		9,752		6,348
Liabilities related to the Take 5 Matter		9,416		9,416
Employee medical self-insurance reserves		10,250		8,695
Accrued restructuring and reorganization		15,598		6,402
Other accrued expenses		10,153		12,655
Total other accrued expenses	$	134,677	$	144,415

Other long-term liabilities consist of the following:

	December 31,
(in thousands)	2024		2023
Operating lease liabilities	$	24,648	$	33,967
Workers' compensation		33,722		35,025
Other long-term liabilities		5,771		5,563
Total other long-term liabilities	$	64,141	$	74,555

Under the workers’ compensation programs, the estimated liability for claims incurred but unpaid at December 31, 2024 and 2023 were $59.4 million and $63.0 million, respectively. These amounts include reported claims as well as claims incurred but not reported. As of December 31, 2024, $25.7 million and $33.7 million of this liability was included in the “Accrued compensation and benefits” and “Other long-term liabilities” in the Consolidated Balance Sheets, respectively. As of December 31, 2023, $28.0 million and $35.0 million of this liability was included in the “Accrued compensation and benefits” and “Other long-term liabilities” in the Consolidated Balance Sheets, respectively. In connection with its deductible limits, the Company has standby letters-of-credit in the amount of $44.1 million as of December 31, 2024 and 2023, respectively, and $15.0 million and $16.0 million surety bond as of such years supporting the estimated unpaid claim liabilities.

Contingent Consideration Liabilities

Each reporting period, the Company measures the fair value of its contingent liabilities by evaluating the significant unobservable inputs and probability weightings using Monte Carlo simulations. Any resulting decreases or increases in the fair value result in a corresponding gain or loss reported in “Selling, general, and administrative expenses” in the Consolidated Statements of Operations and Comprehensive Loss. The Company has reassessed the fair value of contingent consideration based on the achievement of performance targets as defined in the respective purchase agreements and it resulted in fair value adjustments of $1.7 million and $11.2 million losses that are included in “Selling, general, and administrative expenses” in the Consolidated Statements of Operations and Comprehensive Loss during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, there were no contingent consideration liabilities outstanding.

The following table summarizes the changes in the carrying value of the contingent consideration liabilities:

	December 31,
(in thousands)	2024			2023
Beginning of the period	$	18,355		$	14,626
Changes in fair value		1,678			11,152
Payments		(20,033	)		(7,423	)
End of the period	$	—		$	18,355