Note 10 - Warranty Reserve Liability

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

10. Warranty reserve liability

The Company reserves estimated exposures on known claims, as well as anticipated claims, for product warranty and rework cost, based on historical product liability claims. Claim costs are deducted from the accrual when paid. Factors that could have an impact on the warranty accrual in any given period include the following: changes in manufacturing quality, changes in product costs, changes in product mix and any significant changes in sales volume.

A rollforward of our warranty liability is as follows:

	Nine Months Ended
	September 30,
(In thousands)	2022			2021
Beginning balance as of December 31, 2021 and 2020	$	9,398		$	212
Warranty reserve acquired in the acquisition of Global Cooling		-			3,353
Provision for warranties		1,770			4,446
Settlements of warranty claims		(2,801	)		(2,459	)
Ending Balance	$	8,367		$	5,552