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Accrued Warranty
6 Months Ended
Jun. 30, 2022
Guarantees [Abstract]  
Accrued Warranty

9. Accrued Warranty

 

The liability for estimated warranty claims is accrued at the time of sale and the expense is recorded in the Condensed Consolidated Statement of Operations in Cost of Sales. The liability is established using historical warranty claim experience. The current provision may be adjusted to take into account unusual or non-recurring events in the past or anticipated changes in future warranty claims. Adjustments to the warranty accrual are recorded if actual claim experience indicates that adjustments are necessary. Warranty reserves are reviewed to ensure critical assumptions are updated for known events that may impact the potential warranty liability.

 

 

The following table summarizes the changes in product warranty liability:

 

 

 

 

For the six months ended

 

 

 

June 30,

 

 

 

2022

 

 

2021

 

Balance January 1,

 

$

1,578

 

 

$

1,292

 

Provision for warranties issued during the year

 

 

1,250

 

 

 

1,867

 

Warranty services provided

 

 

(958

)

 

 

(1,566

)

Foreign currency translation

 

 

(40

)

 

 

(15

)

Balance June 30,

 

$

1,830

 

 

$

1,578