Accrued Expenses

6 Months Ended

Jun. 30, 2026

Other Current Liabilities

Other current liabilities consisted of the following:


	June 30, 2026		December 31, 2025

	(in thousands)
Income tax payable	$	7,314	$	12,388
Operating lease liability	6,718		10,470
Public duties and taxes	7,697		8,050
External derivative financial liabilities	2,393		555
Withheld taxes and other deductions	526		3,692

Other	—		427
Other current liabilities	$	24,648	$	35,582

Accrued Expenses

Accrued expenses consisted of the following:


	June 30, 2026		December 31, 2025

	(in thousands)
Accrued payroll and employee related liabilities	$	34,082	$	38,119
Accrued vendor costs	31,629		38,049
Provisions—warranty	5,813		8,371
Provisions—restructuring	4,100		858
Provisions—environmental(a)	3,219		3,236
Provisions for loss contingencies	759		1,962
Accrued interest	656		646
Accrued sales and other taxes	268		220
Other	4,438		4,319
Accrued expenses	$	84,964	$	95,780

(a).Costs of future estimated expenditures for environmental remediation liabilities are not discounted to their present value due to the timing of the future expenditures not being reliably determinable. The environmental remediation liability is related to two plants.

The following table describes the changes to the Company’s warranty liability:


	June 30, 2026
	(in thousands)
Balance as of January 1, 2026	$	8,371
Accrued expense	797
Payments	(1,045)

Provision reversed during the period	(2,264)
Currency translation differences	(46)
Balance as of June 30, 2026	$	5,813

We recognized warranty expense of $0.4 million and $0.8 million for the three and six months ended June 30, 2026, respectively, and $0.4 million and $2.7 million for the three and six months ended June 30, 2025, respectively. These expenses were recorded in our Condensed Consolidated Statements of Income within Total cost of sales.