|3 Months Ended|
Mar. 31, 2019
|Payables and Accruals [Abstract]|
Note 6 – Accrued Expenses
Accrued expenses consisted of the following:
Included in Other Accrued Expenses as of March 31, 2019
is $250,000for the final payment described above in Note 5 related to the TDG Amendment. As of December 31, 2018, there was $750,000 in Other Accrued Expenses related to the TDG Amendment.
The Company has warranty obligations in connection with the sale of certain of its products. The warranty period for its products is generally twelve (12) months except in certain European countries where it can be twenty-four (24) months for some consumer-focused products. The costs incurred to provide for these warranty obligations are estimated and recorded as an accrued liability at the time of sale. The Company estimates its future warranty costs based on product-based historical performance rates and related costs to repair.
The changes in the Company’s accrued warranty obligations for the three months ended March 31, 2019 and the balance as of December 31, 2018 were as follows:
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef