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Note 8 - Accrued Expenses | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] |
8. | ACCRUED EXPENSES
Accrued expenses consist of the following:
|  | September 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Salaries, bonuses and related benefits |  | $ | 24,718 |  |  | $ | 21,342 |
Accrued restructuring costs |  |  | 3,637 |  |  |  | 9 |
Sales commissions |  |  | 2,449 |  |  |  | 2,049 |
Subcontracting labor |  |  | 1,927 |  |  |  | 1,622 |
Warranty accrual |  |  | 1,338 |  |  |  | 1,056 |
Other |  |  | 8,593 |  |  |  | 8,375 |
|  | $ | 42,662 |  |  | $ | 34,453 |
The change in warranty accrual during the nine months ended September 30, 2022 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the nine months ended September 30, 2022. Restructuring Activities: Activity and liability balances related to restructuring costs for the nine months ended September 30, 2022 are as follows:
|  |  |  |  |  | Nine Months Ended |  |  |  |  |
|  |  |  |  |  | September 30, 2022 |  |  |  |  |
|  | Liability at |  |  |  |  |  |  | Cash Payments |  |  | Liability at |
|  | December 31, |  |  | New |  |  | and Other |  |  | September 30, |
|  | 2021 |  |  | Charges |  |  | Settlements |  |  | 2022 |
Severance costs |  | $ | 9 |  |  | $ | 1,429 |  |  | $ | (372 | ) |  | $ | 1,066 |
Other restructuring costs |  |  | - |  |  |  | 2,571 |  |  |  | - |  |  |  | 2,571 |
Total |  | $ | 9 |  |  | $ | 4,000 |  |  | $ | (372 | ) |  | $ | 3,637 |
During the third quarter of 2022, Bel launched a series of initiatives to simplify its operational footprint. Two of the Company's Magnetic Solutions manufacturing facilities in China will be consolidated into a single new facility in Southwestern China, with expected completion by mid-2023. In connection with the announcement internally, the Company recorded $1.1 million of severance costs and $2.6 million of other restructuring costs associated with this initiative. Also during the third quarter of 2022, the Company incurred $0.2 million of severance costs in connection with the reorganization of the Connectivity Solutions' sales and product management teams. These amounts are classified as restructuring charges on the condensed consolidated statements of operations for the three and nine months ended September 30, 2022.

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