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Note 8 - Accrued Expenses

9 Months Ended

Sep. 30, 2022

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.