Warranty Reserves

6 Months Ended

Jun. 26, 2021

Product Warranties Disclosures [Abstract]

5. Warranty Reserves

The Company’s standard warranty obligation to its end-users provides for a period of one to two years from the date of shipment, while certain auto, aviation, and marine OEM products have a warranty period of two years or more from the date of installation. The Company’s estimates of costs to service its warranty obligations are based on historical experience and management’s expectations and judgments of future conditions, and are recorded as a liability on the balance sheet. The following reconciliation provides an illustration of changes in the aggregate warranty reserve.


	13-Weeks Ended						26-Weeks Ended
	June 26, 2021			June 27, 2020			June 26, 2021			June 27, 2020
Balance - beginning of period	$	39,288		$	39,368		$	42,643		$	39,758
Accrual for products sold (1)		22,988			13,659			34,445			31,527
Expenditures		(17,701	)		(13,734	)		(32,513	)		(31,992	)
Balance - end of period	$	44,575		$	39,293		$	44,575		$	39,293

(1) Changes in cost estimates related to pre-existing warranties were not material and aggregated with accruals for new warranty contracts in the ‘Accrual for products sold’ line.