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Note 9 - Accrued Expenses | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
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.

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