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Accrued Liabilities
 12 Months Ended
Oct. 31, 2024
Accrued Liabilities  
Accrued Liabilities

Note 10. Accrued Liabilities

Accrued liabilities as of October 31, 2024 and 2023 consisted of the following (in thousands):

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October 31,

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October 31,

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2024

    

2023

Accrued payroll and employee benefits (1)

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$

9,808

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$

7,752

Consideration payable to a customer (2)

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2,515

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3,958

Accrued service agreement and PPA costs (3)

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10,574

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10,742

Accrued legal, taxes, professional and other

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5,230

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3,861

Accrued severance costs (4)

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2,235

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-

Accrued liabilities

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$

30,362

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$

26,313

(1)The balance in this account represents accrued payroll, payroll taxes and accrued bonus for both periods.  The increase in the account balance relates to an increase in accrued bonus as of October 31, 2024.
(2)The balance represents the net amount due to Toyota as an accrued liability which will be reduced over time based on the performance under the terms of the Toyota HPPA.
(3)Accrued service agreement costs include loss accruals on service contracts of $9.0 million as of October 31, 2024, which decreased from $9.5 million as of October 31, 2023. The decrease is the result of changes in estimates regarding timing of future module exchanges and future module replacement costs. The accruals for performance guarantees on service agreements and PPAs increased from $1.2 million as of October 31, 2023 to $1.5 million as of October 31, 2024.
(4)Accrued severance costs represent amounts accrued relating to restructuring activities and workforce reductions that occurred in September 2024. Refer to Note 4. “Restructuring” for more information about the restructuring.