Accrued Liabilities

9 Months Ended

Sep. 27, 2024

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:


	September 27, 2024		December 31, 2023
	(In thousands)
Accrued compensation and related benefits	$	87,257	$	70,979
Contingent consideration - current portion	50,601		5,972
Accrued third-party commissions	34,338		28,539
Lease liability - current portion	21,547		21,568
Derivative liability - current portion	21,150		278
Accrued taxes	18,455		14,384
Accrued rebates	18,936		14,464
Accrued professional fees	9,602		13,037
Accrued interest	8,859		3,765
Accrued freight	6,817		3,909
Customer advances and billings in excess of costs incurred	5,869		2,953
Accrued royalties	5,828		6,944
Warranty liability	2,657		2,959
Accrued restructuring liability	2,293		2,276
Other	57,947		45,105
	$	352,156	$	237,132

Accrued Restructuring Liability

The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities in the Condensed Consolidated Balance Sheets is as follows:


	Nine Months Ended September 27, 2024
	Balance at Beginning of Period		Provisions		Payments		Foreign Currency Translation		Balance at End of Period
	(In thousands)
Restructuring and other charges:
Termination benefits(1)	$	2,195	$	9,831	$	(9,791)	$	51	$	2,286
Facility closure costs and other(2)	81		7,177		(7,251)		—		7
Total	$	2,276	17,008		$	(17,042)	$	51	$	2,293
Non-cash charges(2)			5,555
Total Provisions(3)			$	22,563

(1) Includes severance and other termination benefits, including outplacement services, primarily related to employees in the Recon segment following the Lima Acquisition.

(2) Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of P&R office sites, shared service centers, and our manufacturing sites in Tunisia and Tijuana.

(3) For the nine months ended September 27, 2024, $12.5 million and $10.1 million of the Company’s total provisions were related to the P&R and Recon segments, respectively. The non-cash charges was an impairment of assets associated with divesting a minor product line in P&R.