Note 9 - Accrued Expenses

3 Months Ended

Mar. 31, 2024

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

9.	ACCRUED EXPENSES

Accrued expenses consist of the following:

	March 31,		December 31,
	2024		2023
Salaries, bonuses and related benefits	$	18,403	$	33,566
Deferred revenue		2,606		3,046
Accrued restructuring costs		4,287		5,498
Sales commissions		1,929		2,347
Warranty accrual		1,594		1,542
Other		7,953		8,658
	$	36,772	$	54,657

The change in warranty accrual during the three months ended March 31, 2024 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the three months ended March 31, 2024.

Restructuring Activities:

Activity and liability balances related to restructuring costs for the three months ended March 31, 2024 are as follows:

			Three Months Ended
			March 31, 2024
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			March 31,
	2023		Charges		Settlements			2024
Severance costs	$	1,551	$	65	$	(1,276	)	$	340
Other restructuring costs		3,947		-		-			3,947
Total	$	5,498	$	65	$	(1,276	)	$	4,287

The new charges and ending liability balance noted above for severance costs largely relate to an initiative within our Connectivity segment related to the transition of certain manufacturing from our Glen Rock, Pennsylvania facility to other existing Bel sites. The balances as of December 31, 2023 related to the Company’s facility consolidation project in the PRC whereby two of our Magnetic Solutions manufacturing sites were consolidated into a single new site.