Table of Contents COHERENT, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9. BALANCE SHEET DETAILS Prepaid expenses and other assets consist of the following (in thousands): Fiscal year-end 2019 2018 Prepaid and refundable income taxes $ 44,096 $ 37,884 Other taxes receivable 11,208 16,930 Prepaid expenses and other assets 22,689 30,266 Total prepaid expenses and other assets $ 77,993 $ 85,080 Other assets consist of the following (in thousands): Fiscal year-end 2019 2018 Assets related to deferred compensation arrangements (see Note 13) $ 35,842 $ 37,370 Deferred tax assets (see Note 16) 87,011 64,858 Other assets  (1) 18,111 9,521 Total other assets $ 140,964 $ 111,749 (1) In the first quarter of fiscal 2019, we invested 3.0 million Euro ($3.4 million) in 3D-Micromac AG, a private company in Germany. The investment is included in other assets and is being carried on a cost basis and will be adjusted for impairment if we determine that indicators of impairment exist at any point in time. Other current liabilities consist of the following (in thousands): Fiscal year-end 2019 2018 Accrued payroll and benefits $ 55,698 $ 55,704 Accrued expenses and other 41,039 36,859 Warranty reserve (see Note 2) 36,460 40,220 Customer deposits 10,843 19,933 Deferred revenue 23,695 30,613 Total other current liabilities $ 167,735 $ 183,329 Other long-term liabilities consist of the following (in thousands): Fiscal year-end 2019 2018 Long-term taxes payable $ 37,385 $ 36,336 Deferred compensation (see Note 13) 39,715 40,895 Deferred tax liabilities (see Note 16) 27,785 26,339 Deferred revenue 8,012 5,091 Asset retirement obligations liability (see Note 2) 4,934 4,529 Defined benefit plan liabilities (see Note 14) 45,862 37,528 Other long-term liabilities 2,188 1,238 Total other long-term liabilities $ 165,881 $ 151,956 97