Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses

7.Accounts Payable and Accrued Expenses

Accounts payable and accrued expense consisted of the following:

	December 31,
(table only in thousands)	2021		2020
Trade accounts payable, including amounts due to subcontractors	$	56,242	$	55,899
Compensation and related benefits		6,065		5,079
Accrued warranty		3,074		4,090
Contract liability		4,405		3,974
Short-term operating lease liability		2,414		2,274
Other		11,881		13,681
Total accounts payable and accrued expenses	$	84,081	$	84,997

The activity in the Company’s current portion of earnout liability is recorded in Accounts payable and accrued expenses on our Consolidated Balance Sheets, consisted of the following:

	December 31,
(table only in thousands)	2021			2020
Earnout accrued at beginning of year	$	1,743		$	—
Fair value of earnout at acquisition date		—			553
Fair value adjustment		704			1,190
Payments		(1,410	)		—
Earnout accrued at end of year	$	1,037		$	1,743

As additional consideration in acquisition of Environmental Integrated Solution (“EIS”), the former owners are entitled to earnout payments based upon a multiple of specified financial results through December 31, 2021. Based on projections at the acquisition date, the Company estimated the fair value of the earnout to be $0.6 million. During 2020 and 2021, the Company increased the earnout based on the estimated fair value at the end of the year. The fair value adjustment is recorded as expense in “Amortization and earnout expenses” on the Consolidated Statements of Income. The changes in fair value were a result of EIS performing above initial acquisition operational expectations. See Note 15 for further discussion of the EIS acquisition.