Warranty

The Company estimates warranty expense using quantitative measures based on historical warranty claim experience and evaluation of specific Customer warranty issues. Following is a reconciliation of warranty reserves for the three months ended October 31, 2015 and 2014 (millions of dollars):



	October 31,
	2015			2014
Beginning balance	$	8.6		$	9.0
Accruals for warranties issued during the reporting period	1.3			0.9
Accruals related to pre-existing warranties (including changes in estimates)	2.2			(0.5		)
Less settlements made during the period	(0.5		)	(1.3		)
Ending balance	$	11.6		$	8.1

While the current quarter included increased warranty costs, there were no individually significant specific warranty matters accrued for in the periods ended October 31, 2015 or 2014. The Company’s warranty matters are not expected to have a material impact on our results of operations, liquidity, or financial position.