v3.24.4
Accrued expenses and other liabilities (Tables) - MiX Telematics Limited [Member]
 12 Months Ended
Mar. 31, 2024
Schedule of accrued expenses

Accrued expenses comprise the following (in thousands):

 

   2023   2024 
   As of March 31, 
   2023   2024 
Current:          
Product warranties  $317   $332 
Maintenance   430    145 
Employee-related accruals   3,392    3,269 
Bonus and incentives   3,344    3,952 
Lease liabilities   688    859 
Accrued commissions   3,675    4,338 
Loss contingency (1)   474    — 
Value added tax payables   1,239    886 
Post-acquisition support and hardware payable (1)   2,265    1,617 
Other accruals   5,662    4,712 
Total current  $21,486   $20,110 
           
Non-current:          
Lease liabilities  $2,966   $2,852 
Other liabilities   402    484 
Total non-current  $3,368   $3,336 

 

(1)  Relates to the acquisition of Trimble’s FSM business, including the remaining purchase consideration that has been agreed.

Schedule of product warranties

The Company provides warranties on certain products and undertakes to repair or replace items that fail to perform satisfactorily. Management estimates the related provision for future warranty claims based on historical warranty claim information, the product lifetime, as well as recent trends that might suggest that past cost information may differ from future claims. The table below provides details of the movement in the accrual in thousands:

 

   2023   2024 
   As of March 31, 
   2023   2024 
Product warranties          
Opening balance  $683   $359 
Warranty expense   147    5 
Reclassification (1)   (261)   — 
Utilized   (154)   (1)
Acquisition (2)   41    — 
Foreign currency translation difference   (97)   (7)
Balance as of March 31  $359   $356 
Non-current portion (included in other liabilities)  $42   $24 
Current portion  $317   $332 

 

(1)  Relates to a reclassification of certain costs from Product warranties to the Maintenance provision during fiscal year 2023.
(2)  Relates to the acquisition of Trimble’s FSM business.