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v3.23.2

Summary of Significant Accounting Policies and Other Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedules of Concentration of Risk, by Risk Factor | The following table presents customers individually accounting for more than 10% of the Company’s net sales:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Customer A |  | 14 | % |  | 18 | % |  | 15 | % |  | 17 | %
Customer B |  | 10 | % |  | ** |  | 11 | % |  | **
The following table presents customers individually accounting for more than 10% of the Company’s accounts receivable:
|  | As of June 30, 2023 |  | As of December 31, 2022
Customer A |  | 23 | % |  | 30 | %
Customer B |  | 14 | % |  | **
The following table presents suppliers individually accounting for more than 10% of the Company’s purchases:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Supplier C |  | ** |  | 14 | % |  | 10 | % |  | **
**Less than 10% of the total
Schedule of Inventory, Current | Inventories consisted of the following:
(in thousands) Inventories |  | As of June 30, 2023 |  | As of December 31, 2022
Raw materials |  | $ | 92,363 |  |  | $ | 101,566 |
Work in process |  | 1,516 |  |  | 3,073 |
Finished goods |  | 25,038 |  |  | 19,825 |
Total inventories |  | 118,917 |  |  | 124,464 |
Inventory allowance |  | (5,702) |  |  | (3,904) |
Inventories, net |  | $ | 113,215 |  |  | $ | 120,560 |
Activity in the Company’s inventory allowance was as follows:
(in thousands) |  | For the Six Months Ended June 30,
Inventory Allowance |  | 2023 |  | 2022
Balance at beginning of period |  | $ | 3,904 |  |  | $ | 3,370 |
Charged to expense |  | 2,179 |  |  | 163 |
Write-offs |  | (381) |  |  | (592) |
Balance at end of period |  | $ | 5,702 |  |  | $ | 2,941 |
Schedule of Other Accrued Liabilities | Other accrued liabilities consisted of the following:
(in thousands) Other Accrued Liabilities |  | As of June 30, 2023 |  | As of December 31, 2022
Accrued product warranty |  | $ | 12,100 |  |  | $ | 13,037 |
Litigation reserves * |  | 2,202 |  |  | 2,102 |
Contract liabilities |  | 2,399 |  |  | 2,256 |
Accrued compensation and benefits |  | 6,186 |  |  | 7,299 |
Accrued interest expense |  | 6,692 |  |  | 5,257 |
Other |  | 3,790 |  |  | 4,158 |
Total |  | $ | 33,369 |  |  | $ | 34,109 |
*As of June 30, 2023 and December 31, 2022 litigation reserves related to various ongoing legal matters including associated legal fees.
Schedule of Accrued Product Warranty | Accrued product warranty activities are presented below:
(in thousands) |  | For the Six Months Ended June 30,
Accrued Product Warranty |  | 2023 |  | 2022
Balance at beginning of period |  | $ | 21,550 |  |  | $ | 32,947 |
Current period provision * |  | 3,491 |  |  | 4,170 |
Changes in estimates for preexisting warranties ** |  | 5,662 |  |  | 115 |
Payments made during the period |  | (8,477) |  |  | (11,442) |
Balance at end of period |  | 22,226 |  |  | 25,790 |
Less: current portion |  | 12,100 |  |  | 15,682 |
Noncurrent accrued product warranty (included with Other Noncurrent liabilities) |  | $ | 10,126 |  |  | $ | 10,108 |
*Warranty costs for claims received, net of supplier recoveries, and other adjustments, were a cost of $8.5 million and a cost of $1.9 million for the six months ended June 30, 2023 a nd 2022, respectively. Supplier recoveries were $0.7 million and $2.1 million for the six months ended June 30, 2023 and 2022, respectively. **Changes in estimates for preexisting warranties reflect changes in the Company’s estimate of warranty costs for products sold in prior periods. Such adjustments typically occur when claims experience deviates from historical and expected trends. During the six months ended June 30, 2023, the Company recorded a cost for changes in estimates of preexisting warranties of $5.7 million, or $0.25 per diluted share. During the six months ended June 30, 2022, the Company recorded a cost of $0.1 million, or $0.01 per diluted share, which includes a favorable experience for preexisting warranties attributable to a contract revision executed during the quarter ended March 31, 2022.

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