XML 28 R19.htm IDEA: XBRL DOCUMENT v3.22.2.2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 9 Months Ended
Sep. 30, 2022
Payables and Accruals [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 12 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

Accounts payable and accrued expenses consist of the following:

 

   December 31, 2021   September 30, 2022 
       (Unaudited) 
Accounts payable  $17,748   $18,422 
Accrued warranty   1,146    1,708 
Accrued compensation   6,644    6,132 
Government authorities   2,080    1,963 
Other current liabilities   1,397    593 
           
Accounts payable and accrued expenses  $29,015   $28,818 

 

The Company’s products are warranted against defects in materials and workmanship for a period of one to three years from the date of acceptance of the product by the customer. The customers may purchase an extended warranty providing coverage up to a maximum of 60 months. A provision for estimated future warranty costs is recorded for expected or historical warranty matters related to equipment shipped and is included in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets as of December 31, 2021 and September 30, 2022.

 

The following table summarizes warranty activity for the nine-month periods ended September 30, 2021 and 2022:

 

   2021   2022 
  

Nine Months Ended

September 30,

 
   2021   2022 
         
Accrued warranty reserve, beginning of year  $742   $1,333 
Accrual for product warranties issued   639    998 
Product replacements and other warranty expenditures   (565)   (373)
Expiration of warranties   19    (83)
           
Accrued warranty reserve, end of period (a)  $835   $1,875 

 

(a) Includes non-current accrued warranty included in other long-term liabilities at December 31, 2021 and September 30, 2022 of $187 and $167, respectively.