XML 132 R16.htm IDEA: XBRL DOCUMENT

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Expenses and Other Liabilities

Note 9 — Accrued Expenses and Other Liabilities

The components of accrued expenses and other current liabilities were as follows:


	December 31,		December 31,
	2019		2018
	(in thousands)
Payroll and related benefits	$	15,174	$	20,486
Warranty		7,067		7,852
Operating lease liabilities		4,196		—
Interest		4,321		4,321
Professional fees		2,443		2,897
Sales, use, and other taxes		811		2,670
Restructuring liability		2,841		2,213
Other		4,390		6,011
Total	$	41,243	$	46,450

Customer deposits and deferred revenue

Customer deposits totaled $26.6 million and $28.3 million at December 31, 2019 and 2018, respectively, which are included in “Customer deposits and deferred revenue” in the Consolidated Balance Sheets. Deferred revenue represents amounts billed, other than deposits, in excess of the revenue that can be recognized on a particular contract at the balance sheet date. Changes in deferred revenue were as follows:


	(in thousands)
Balance - December 31, 2018	$	44,415
Deferral of revenue		5,816
Recognition of previously deferred revenue		(21,982)
Balance - December 31, 2019	$	28,249

As of December 31, 2019, the Company has approximately $38.9 million of remaining performance obligations on contracts with an original estimated duration of one year or more, of which approximately 87% is expected to be recognized within one year, with the remaining amounts expected to be recognized between one to three years. The Company has elected to exclude disclosures regarding remaining performance obligations that have an original expected duration of one year or less.

Other liabilities

As part of the acquisition of Ultratech, the Company assumed an executive non-qualified deferred compensation plan that allowed qualifying executives to defer cash compensation. The plan was frozen at the time of acquisition and no further contributions have been made. At December 31, 2019 and 2018, plan assets approximated $2.7 million and $3.2 million, respectively, representing the cash surrender value of life insurance policies and is included within “Other assets” in the Consolidated Balance Sheets, while plan liabilities approximated $3.1 million and $3.5 million, respectively and is included within “Other liabilities” in the Consolidated Balance Sheets. Other liabilities also included asset retirement obligations of $3.2 million and income tax payables of $1.0 million at both December 31, 2019 and 2018, and medical and dental benefits for former executives of $2.0 million and $2.2 million at December 31, 2019 and 2018, respectively.