XML 37 R15.htm IDEA: XBRL DOCUMENT

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2020

Accrued Expenses and Other Liabilities

Note 8 — Accrued Expenses and Other Liabilities

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


	December 31,		December 31,
	2020		2019

	(in thousands)
Payroll and related benefits	$	26,630	$	15,174
Warranty		5,058		7,067
Operating lease liabilities		4,148		4,196
Interest		2,574		4,321
Professional fees		1,112		2,443
Sales, use, and other taxes		2,658		811
Restructuring liability		279		2,841
Other		2,417		4,390
Total	$	44,876	$	41,243

Customer deposits and deferred revenue

Customer deposits totaled $49.3 million and $26.6 million at December 31, 2020 and 2019, 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, 2019	$	28,249
Deferral of revenue		9,955
Recognition of previously deferred revenue		(20,219)
Balance - December 31, 2020	$	17,985

As of December 31, 2020, the Company has approximately $27.9 million of remaining performance obligations on contracts with an original estimated duration of one year or more, of which approximately 56% 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 a prior acquisition, 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, 2020 and 2019, plan assets approximated $2.4 million and $2.7 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 $2.5 million and $3.1 million, respectively and is included within “Other liabilities” in the Consolidated Balance Sheets. At December 31, 2020 and 2019, other liabilities also included (i) asset retirement obligations of $2.7 million and $3.2 million, respectively; (ii) income tax payables of $1.4 million and $1.0 million, respectively; and (iii) medical and dental benefits for former executives of $1.9 million and $2.0 million, respectively. Additionally, as a result of the Coronavirus, Aid, Relief, and Economic Security Act, the Company has accrued for and deferred the deposit and payment of its share of social security taxes, resulting in a liability of $3.6 million at December 31, 2020, of which $1.8 million is included within “Accrued expenses and other current liabilities”, and $1.8 million is included within “Other liabilities” in the Consolidated Balance Sheets.