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ACCRUED LIABILITIES

3 Months Ended

Mar. 31, 2025

ACCRUED LIABILITIES

ACCRUED LIABILITIES

9.    ACCRUED LIABILITIES

Accrued liabilities consist of the following:

​

​	​	​	​	​	​	​
​	​	March 31,		​	December 31,
​		2025			2024
Compensation and fringe benefits	​	$	12,174	​	$	13,134
Warranty reserve	​		2,050	​		1,966
Income taxes payable	​	​	1,106	​	​	1,472
Operating lease liabilities – current	​	​	5,183	​	​	5,088
Finance lease obligations – current	​	​	457	​	​	448
Contract liabilities	​	​	2,674	​	​	2,292
Restructuring related accruals	​	​	1,145	​	​	—
Other accrued expenses	​		7,639	​		5,821
​	​	$	32,428	​	$	30,221

​

In line with the Company’s Simplify to Accelerate NOW strategy, during the first quarter of 2025, the Company began to create a state-of-the-art Machining Center of Excellence at the facility in Dothan, Alabama. Assembly operations from Dothan have begun to be merged into facilities in Tulsa, Oklahoma and Reynosa, Mexico.

​

Costs associated with this realignment are expected to be approximately $4 to $5 million and relate primarily to employee severance and other personnel-related expenses. These expenses are expected to be substantially incurred and paid by the end of 2025.

​

As of March 31, 2025, $1,499 of accrued expenses have been incurred relating to our Simplify to Accelerate NOW initiatives. These expenses are included in acquisition and integration-related costs in the condensed consolidated statement of income and comprehensive income.

​

​	​	​	​
​	​	Three months ended
​	​	March 31,
​		2025
Beginning balance	​	$	—
Expenses incurred	​		1,499
Payments	​	​	(354)
Ending balance	​	$	1,145

​

X

- Definition

The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 720
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483384/720-30-45-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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- References

No definition available.

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