NOTE M 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, 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
Accruals for warranties issued during the reporting period		4,339
Accruals related to pre-existing warranties (including changes in estimates)		(1,185)
Less settlements made during the period		(4,651)
Balance at July 31, 2014	$	9,029

There were no significant specific warranty matters accrued for in Fiscal 2014 or Fiscal 2013. 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 2014 or Fiscal 2013.