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Product Warranty
12 Months Ended
Mar. 31, 2018
Guarantees And Product Warranties [Abstract]  
Product Warranty

Note 13 — Product Warranty

The Company provides limited warranties on its products for periods of up to five years. The Company records a liability for its warranty obligations when products are shipped or they are included in long-term construction contracts based upon an estimate of expected warranty costs. Amounts expected to be incurred within 12 months are classified as accrued liabilities and amounts expected to be incurred beyond 12 months are classified as other liabilities in the consolidated financial statements. For mature products, the warranty cost estimates are based on historical experience with the particular product. For newer products that do not have a history of warranty costs, the Company bases its estimates on its experience with the technology involved and the types of failures that may occur. It is possible that the Company’s underlying assumptions will not reflect the actual experience and in that case, future adjustments will be made to the recorded warranty obligation. The following table reflects the change in the Company’s warranty accrual in fiscal years 2018, 2017 and 2016.

 

 

 

Fiscal Years Ended

 

 

 

March 31, 2018

 

 

March 31, 2017

 

 

March 31, 2016

 

 

 

(In thousands)

 

Balance, beginning of period

 

$

11,058

 

 

$

11,434

 

 

$

15,545

 

Change in liability for warranties issued in period

 

 

897

 

 

 

7,815

 

 

 

4,327

 

Settlements made (in cash or in kind) during the period

 

 

(5,041

)

 

 

(8,191

)

 

 

(8,438

)

Balance, end of period

 

$

6,914

 

 

$

11,058

 

 

$

11,434