BRP Group Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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. Accrued Expenses and Other Current Liabilities
- Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following:
| December 31, | ||
|---|---|---|
| (in thousands) | 2023 | 2022 |
| Accrued compensation and benefits | $53,728 | $44,903 |
| Contract liabilities | 30,281 | 30,981 |
| Accrued expenses | 23,274 | 13,101 |
| Current portion of operating lease liabilities | 16,704 | 14,043 |
| Current portion of long-term debt | 10,243 | 8,509 |
| Earnout incentive bonus(1) | 8,020 | — |
| Other | 10,704 | 14,206 |
| Accrued expenses and other current liabilities | $152,954 | $125,743 |
(1)Represents the unpaid portion of contingent earnout liabilities that were reclassified, at the Partner's option, to an earnout incentive bonus, which is payable to Colleagues. Refer to the contingent earnout liabilities rollforward in Note 19 for additional information.
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