Warranty reserve liability

3 Months Ended

Mar. 31, 2024

Guarantees and Product Warranties [Abstract]

Warranty reserve liability

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)	2024		2023
Balance at beginning of period	$	7,858	$	8,312
Provision for warranties	767		1,891
Settlements of warranty claims	(825)		(1,308)
Balance at end of period	$	7,800	$	8,895