Other Current Liabilities

9 Months Ended

Sep. 30, 2021

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

5. Other Current Liabilities

Other current liabilities were comprised of the following:

	September 30, 2021		December 31, 2020
Customer-related liabilities	$	12,204	$	16,144
Accrued interest payable		2,199		2,131
Accrued sales commissions		1,934		1,419
Other		6,634		4,546
Other current liabilities	$	22,971	$	24,240

Included in customer-related liabilities are costs expected to be incurred with respect to product warranties and customer deposits. 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 product warranties at the time the underlying sale is recorded. The provision is based on historical experience as a percentage of sales adjusted for potential claims when a liability is probable and for known claims.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Balance at beginning of the period	$	7,840		$	8,695		$	8,105		$	9,065
Satisfaction of warranty claims		(923	)		(921	)		(2,668	)		(2,776	)
Provision for warranty claims		632			183			2,141			1,822
Other, primarily impact from changes in foreign currency exchange rates		(135	)		160			(164	)		6
Balance at end of the period	$	7,414		$	8,117		$	7,414		$	8,117

Customer deposits represent amounts collected from, or invoiced to, a customer in advance of revenue recognition and are recorded as other current liabilities on the condensed consolidated balance sheet. 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 September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Balance at beginning of the period	$	6,068		$	8,551		$	6,507		$	4,895
Satisfaction of performance obligations		(3,601	)		(5,276	)		(10,360	)		(12,268	)
Receipt of additional deposits		1,622			5,428			7,956			16,032
Other, primarily impact from changes in foreign currency exchange rates		(23	)		(21	)		(37	)		23
Balance at end of the period	$	4,066		$	8,682		$	4,066		$	8,682