Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Liability

v3.22.4
Product Warranty Liability
 9 Months Ended
Dec. 31, 2022
Guarantees [Abstract]  
Product Warranty Liability

NOTE 7 – PRODUCT WARRANTY LIABILITY:

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

December 31,

 

 

December 31,

 

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

Balance at beginning of period

 

$

487

 

 

$

449

 

 

$

441

 

 

$

626

 

 

BN warranty accrual acquired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169

 

 

Expense (income) for product warranties

 

 

238

 

 

 

19

 

 

 

326

 

 

 

(2

)

 

Product warranty claims paid

 

 

(4

)

 

 

(35

)

 

 

(46

)

 

 

(360

)

 

Balance at end of period

 

$

721

 

 

$

433

 

 

$

721

 

 

$

433

 

 

 

 

Income of $2 for product warranties in the nine months ended December 31, 2021 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.