Warranty Reserves

9 Months Ended

Sep. 30, 2023

Product Warranties Disclosures [Abstract]

7. 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 aviation, marine, and auto 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						39-Weeks Ended
	September 30, 2023			September 24, 2022			September 30, 2023			September 24, 2022
Balance - beginning of period	$	52,352		$	39,949		$	50,952		$	45,467
Accrual for products sold (1)		17,398			16,913			58,124			41,939
Expenditures		(16,217	)		(16,937	)		(55,543	)		(47,481	)
Balance - end of period	$	53,533		$	39,925		$	53,533		$	39,925

(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.