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Note 9 - Accrued Expenses | 3 Months Ended
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Mar. 31, 2025
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, |
|  | 2025 |  |  | 2024 |
Salaries, bonuses and related benefits |  | $ | 23,114 |  |  | $ | 32,478 |
Accrued restructuring costs |  |  | 1,315 |  |  |  | 5,823 |
Sales commissions |  |  | 2,546 |  |  |  | 2,616 |
Warranty accrual |  |  | 1,374 |  |  |  | 1,554 |
Other |  |  | 9,435 |  |  |  | 10,560 |
|  | $ | 37,784 |  |  | $ | 53,031 |
The change in warranty accrual during the three months ended March 31, 2025 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, 2025. Restructuring Activities: Activity and liability balances related to restructuring costs for the three months ended March 31, 2025 are as follows:
|  |  |  |  |  | Three Months Ended |  |  |  |  |
|  |  |  |  |  | March 31, 2025 |  |  |  |  |
|  | Liability at |  |  |  |  |  |  | Cash Payments |  |  | Liability at |
|  | December 31, |  |  | New |  |  | and Other |  |  | March 31, |
|  | 2024 |  |  | Charges |  |  | Settlements |  |  | 2025 |
Severance costs |  | $ | 1,276 |  |  | $ | 228 |  |  | $ | (822 | ) |  | $ | 682 |
Other restructuring costs |  |  | 4,547 |  |  |  | (3,161 | ) |  |  | (753 | ) |  |  | 633 |
Total |  | $ | 5,823 |  |  | $ | (2,933 | ) |  | $ | (1,575 | ) |  | $ | 1,315 |
The balance of accrued restructuring costs at March 31, 2025 largely related to remaining liabilities associated with the Company's facility consolidation project in the PRC whereby two of our Magnetic Solutions manufacturing sites were consolidated into a single new site. During the first quarter of 2025, the Company recorded a $3.2 million reversal of other restructuring costs as a result of a non-cash settlement of liabilities related to this same project.

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