Logitech 2014 Annual Report Download - page 276

LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 8 — Balance Sheet Components (Continued)
The following table presents the components of certain balance sheet liability amounts as of March 31, 2014
and 2013 (in thousands):
March 31,
2014 2013
As Revised
Accrued and other current liabilities:
Accrued personnel expenses ............................................ $ 55,165 $ 39,631
Accrued marketing expenses............................................ 12,844 11,005
Indirect customer incentive programs ..................................... 31,737 29,464
Accrued restructuring ................................................. 2,121 13,458
Deferred revenue ..................................................... 22,529 22,698
Accrued freight and duty ............................................... 6,276 5,882
Value-added taxes payable.............................................. 9,354 8,544
Accrued royalties ..................................................... 2,653 3,358
Warranty accrual ..................................................... 13,905 12,782
Employee benefit plan obligation ........................................ 1,100 994
Income taxes payable.................................................. 7,701 5,032
Other liabilities....................................................... 46,587 40,236
$211,972 $193,084
Non-current liabilities:
Warranty accrual ..................................................... 10,475 8,660
Obligation for deferred compensation ..................................... 16,611 15,631
Long term restructuring ............................................... 5,440 —
Employee benefit plan obligation ........................................ 37,899 40,551
Deferred rent ........................................................ 15,555 22,315
Deferred tax liability .................................................. 2,304 2,048
Long term deferred revenue............................................. 9,350 8,889
Other liabilities....................................................... 1,715 1,768
$ 99,349 $ 99,862
During the fiscal year 2013, the Company made a strategic decision to divest its Remotes product category
and its digital video security product line, included within its Video product category. As a result, assets and
liabilities of the Remotes product category and the digital video security product line were classified as held for
sale as of March 31, 2013. During the fiscal year ended March 31, 2014, the Company updated its strategic direction
and decided to retain its Remotes product category. As a result, the Remotes assets and liabilities held for sale was
reclassified from held for sale as of March 31, 2014.
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