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State and Local Incentives

12 Months Ended

Dec. 31, 2022

State and Local Incentives [Abstract]

Note 11 – State and Local Incentives

During the year ended December 31, 2015, the Company received cash payments of $15,733 for Alabama state and local incentives related to the Company’s capital investment and employment levels at the Shoals Facility. In December 2016, the Company also qualified for an additional $1,410 in incentives at the Shoals Facility. This amount was received in January 2017. Under the incentive

agreements, a certain portion of the incentives may be repayable by the Company if targeted levels of employment are not maintained for a period of six years from the date of the incentive. In the year ended December 31, 2022 employment levels dropped below the minimum targeted levels of employment. The incentives paid back did not exceed the deferred liability balance at December 31, 2021.

The changes in deferred income from these incentives for the years ended December 31, 2022 and 2021, are as follows:


	December 31,
	2022			2021
Balance at the beginning of the year	$	2,507		$	4,722
Recognition of state and local incentives as a reduction of cost of sales		(1,857	)		(2,215	)
State and local incentives paid during the year		(650	)		-
Balance at the end of the year, including current portion	$	—		$	2,507