Accrued Expenses

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	December 31,
	2022		2021
Deferred payments related to Sualab Co., Ltd. acquisition (1)	$	19,282	$	—
Incentive compensation	18,554		37,917
Salaries and payroll taxes	8,121		8,519
Foreign retirement obligations	7,191		7,572
Vacation	5,847		4,686
Warranty obligations	4,375		5,427
Other	29,865		28,311
	$	93,235	$	92,432

(1) The total consideration for the Company's 2019 acquisition of Sualab Co., Ltd. included deferred payments of $24,040,000 that may become payable in October 2023, contingent upon the continued employment of key talent. The deferred payments are being recorded as compensation expense over the four-year period, and the accrued balance was reclassified from "Other Liabilities" to "Accrued expenses" on the Consolidated Balance Sheets in the fourth quarter of 2022 when the liability became current.

The changes in the warranty obligation were as follows (in thousands):

Balance as of December 31, 2020	$	5,406
Provisions for warranties issued during the period	3,256
Fulfillment of warranty obligations	(3,235)
Balance as of December 31, 2021	5,427
Provisions for warranties issued during the period	1,876
Fulfillment of warranty obligations	(2,928)
Balance as of December 31, 2022	$	4,375