Accrued Expenses

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	December 31,
	2023		2022
Foreign retirement obligations	$	12,835	$	7,191
Incentive compensation	10,645		18,554
Salaries and payroll taxes	8,774		8,121
Vacation	5,827		5,847
Warranty obligations	4,244		4,375
Deferred payments related to Sualab Co., Ltd. acquisition (1)	—		19,282
Other	30,049		29,865
	$	72,374	$	93,235

(1) The total consideration for the Company's 2019 acquisition of Sualab Co., Ltd. included deferred payments, contingent upon the continued employment of key talent, of $24,040,000 that was paid fully in October 2023. The deferred payments were recorded as compensation expense over the four-year period.

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
Provisions for warranties issued during the period	2,940
Fulfillment of warranty obligations	(3,078)
Foreign exchange rate changes	7
Balance as of December 31, 2023	$	4,244