NOTE N Warranty

The Company provides for warranties on certain products. In addition, the Company may incur specific Customer warranty issues. Following is a reconciliation of warranty reserves (in thousands of dollars):


Balance at July 31, 2011	$	19,720
Accruals for warranties issued during the reporting period		5,002
Accruals related to pre-existing warranties (including changes in estimates)		(2,956)
Less settlements made during the period		(10,861)
Balance at July 31, 2012	$	10,905
Accruals for warranties issued during the reporting period		5,940
Accruals related to pre-existing warranties (including changes in estimates)		(1,081)
Less settlements made during the period		(5,238)
Balance at July 31, 2013	$	10,526

There were no significant specific warranty matters accrued for in Fiscal 2013 or Fiscal 2012. These warranty matters are not expected to have a material impact on the Company’s results of operations, liquidity, or financial position. There were no significant settlements made in Fiscal 2013. The settlements made during Fiscal 2012 were primarily in relation to the Company’s Retrofit Emissions Product group for $3.6 million, one in the Company’s Off-Road Products group for $1.8 million, and one in the On-Road Product group for $4.1 million.