Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Liability

v3.21.2
Product Warranty Liability
 6 Months Ended
Sep. 30, 2021
Guarantees [Abstract]  
Product Warranty Liability

NOTE 8 – PRODUCT WARRANTY LIABILITY:

The reconciliation of the changes in the product warranty liability is as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Balance at beginning of period

 

$

522

 

 

$

305

 

 

$

626

 

 

$

359

 

BNI warranty accrual acquired

 

 

—

 

 

 

—

 

 

 

169

 

 

 

—

 

(Income) expense for product warranties

 

 

(5

)

 

 

14

 

 

 

(21

)

 

 

(5

)

Product warranty claims paid

 

 

(68

)

 

 

(11

)

 

 

(325

)

 

 

(46

)

Balance at end of period

 

$

449

 

 

$

308

 

 

$

449

 

 

$

308

 

 

 

Income of $5 for product warranties in the three months ended September30, 2021 and income of $21 and $5 for product warranties in the six months ended September 30, 2021 and 2020, respectively, resulted from the reversal of provisions made that were no longer required due to lower claims experience.

 

The product warranty liability is included in the line item "Accrued expenses and other current liabilities" in the Condensed Consolidated Balance Sheets.