Other Current Liabilities

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

Note 6 – Other Current Liabilities

Other current liabilities were comprised of the following:

	June 30, 2023		December 31, 2022
Customer-related liabilities	$	18,247	$	16,771
Accrued utilities		1,747		2,484
Accrued sales commissions		1,706		1,681
Other		3,747		3,827
Other current liabilities	$	25,447	$	24,763

Customer-related liabilities primarily include liabilities for product warranty claims and deposits received on future orders. The Corporation provides a limited warranty on its products, known as assurance-type warranties, and may issue credit notes or replace products free of charge for valid claims. A warranty is considered an assurance-type warranty if it provides the customer with assurance that the product will function as intended. Historically, warranty claims have been insignificant. The Corporation records a provision for estimated product warranties at the time the underlying sale is recorded. The provision is based on historical experience as a percentage of sales adjusted for probable known claims.

Changes in the liability for product warranty claims consisted of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance at beginning of the period	$	5,450		$	6,997		$	5,193		$	7,331
Satisfaction of warranty claims		(598	)		(423	)		(976	)		(1,126	)
Provision for warranty claims		807			592			1,377			1,100
Other, primarily impact from changes in foreign currency exchange rates		(20	)		(407	)		45			(546	)
Balance at end of the period	$	5,639		$	6,759		$	5,639		$	6,759

Customer deposits represent amounts collected from, or invoiced to, a customer in advance of revenue recognition. The liability for customer deposits is reversed when the Corporation satisfies its performance obligations and control of the inventory transfers to the customer, typically when title transfers. Performance obligations related to customer deposits are expected to be satisfied in less than one year.

Changes in customer deposits consisted of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance at beginning of the period	$	13,432		$	3,989		$	10,453		$	4,328
Satisfaction of performance obligations		(5,319	)		(2,269	)		(9,580	)		(5,702	)
Receipt of additional deposits		3,423			10,107			10,620			13,229
Other, primarily impact from changes in foreign currency exchange rates		(30	)		(201	)		13			(229	)
Balance at end of the period	$	11,506		$	11,626		$	11,506		$	11,626