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Accrued expenses and other liabilities

12 Months Ended

Mar. 31, 2024

9. Accrued expenses and other liabilities

Accrued expenses comprise the following (in thousands):

Schedule of accrued expenses

	2023		2024
	As of March 31,
	2023		2024
Current:
Product warranties	$	317	$	332
Maintenance		430		145
Employee-related accruals		3,392		3,269
Bonus and incentives		3,344		3,952
Lease liabilities		688		859
Accrued commissions		3,675		4,338
Loss contingency ⁽¹⁾		474		—
Value added tax payables		1,239		886
Post-acquisition support and hardware payable ⁽¹⁾		2,265		1,617
Other accruals		5,662		4,712
Total current	$	21,486	$	20,110

Non-current:
Lease liabilities	$	2,966	$	2,852
Other liabilities		402		484
Total non-current	$	3,368	$	3,336

⁽¹⁾

Relates to the acquisition of Trimble’s FSM business, including the remaining purchase consideration that has been agreed.

Product warranties

The Company provides warranties on certain products and undertakes to repair or replace items that fail to perform satisfactorily. Management estimates the related provision for future warranty claims based on historical warranty claim information, the product lifetime, as well as recent trends that might suggest that past cost information may differ from future claims. The table below provides details of the movement in the accrual in thousands:

Schedule of product warranties

	2023			2024
	As of March 31,
	2023			2024
Product warranties
Opening balance	$	683		$	359
Warranty expense		147			5
Reclassification ⁽¹⁾		(261	)		—
Utilized		(154	)		(1	)
Acquisition ⁽²⁾		41			—
Foreign currency translation difference		(97	)		(7	)
Balance as of March 31	$	359		$	356
Non-current portion (included in other liabilities)	$	42		$	24
Current portion	$	317		$	332

⁽¹⁾

Relates to a reclassification of certain costs from Product warranties to the Maintenance provision during fiscal year 2023.

⁽²⁾

Relates to the acquisition of Trimble’s FSM business.