Note 11 - Warranty Reserve Liability

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

11. 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:

	Three Months Ended
	March 31,
(In thousands)	2023			2022
Beginning balance as of December 31, 2022 and 2021	$	8,312		$	9,398
Provision for warranties(1)		1,891			1,419
Settlements of warranty claims(1)		(1,308	)		(1,641	)
Ending Balance	$	8,895		$	9,176

(1) Both the Provision for warranties and Settlements of warranty claims balances during the three months ended March 31, 2022 include immaterial reclassifications of $525,000 to reflect changes in warranty utilization on pre-existing claims