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Warranty Guarantees | 3 Months Ended
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Jan. 29, 2021
Product Warranties Disclosures [Abstract] |
Warranty Guarantees |
10 | Warranty Guarantees
The company’s products are warranted to provide assurance that the product will function as expected and to ensure customer confidence in design, workmanship, and overall quality. Standard warranty coverage is generally provided for specified periods of time and on select products’ hours of usage, and generally covers parts, labor, and other expenses for non-maintenance repairs. In addition to the standard warranties offered by the company on its products, the company also sells separately priced extended warranty coverage on select products for a prescribed period after the original warranty period expires. For additional information on the contract liabilities associated with the company's separately priced extended warranties, refer to Note 4, Revenue. The company recognizes expense and provides an accrual for estimated future warranty costs at the time of sale and also establishes accruals for major rework campaigns. Warranty accruals are based primarily on the estimated number of products under warranty, historical average costs incurred to service warranty claims, the trend in the historical ratio of claims to sales, and the historical length of time between the sale and resulting warranty claim. The company periodically assesses the adequacy of its warranty accruals based on changes in these factors and records any necessary adjustments if actual claims experience indicates that adjustments are necessary. The changes in accrued warranties were as follows:
|  | Three Months Ended |  |
(Dollars in thousands) |  | January 29, 2021 |  | January 31, 2020 |  |  |  |
Beginning balance |  | $ | 107,121 |  |  | $ | 96,604 |  |  |  |  |
Provisions |  | 16,695 |  |  | 14,031 |  |  |  |  |
Claims |  | (15,186) |  |  | (14,703) |  |  |  |  |
Changes in estimates |  | 153 |  |  | 691 |  |  |  |  |
Ending balance |  | $ | 108,783 |  |  | $ | 96,623 |  |  |  |  |

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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