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Product Warranties | 3 Months Ended
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Oct. 31, 2014
Product Warranties |
12. | Product Warranties
The Company generally provides retail customers of its products with a one-year warranty covering defects in material or workmanship, with longer warranties of up to five years on certain structural components. The Company records a liability based on its best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. Factors used in estimating the warranty liability include a history of units sold, existing dealer inventory, average cost incurred and a profile of the distribution of warranty expenditures over the warranty period. Management believes that the warranty reserves are adequate. However, actual claims incurred could differ from estimates, requiring adjustments to the reserves. Warranty reserves are reviewed and adjusted as necessary on at least a quarterly basis. Changes in our product warranty reserves are as follows:
|  | Three Months Ended October 31, |
|  | 2014 |  |  | 2013 |
Beginning balance |  | $ | 94,938 |  |  | $ | 84,250 |
Provision |  |  | 29,461 |  |  |  | 22,492 |
Payments |  |  | (26,759) |  |  |  | (20,821) |
Acquisitions |  |  | – |  |  |  | 609 |
Ending balance |  | $ | 97,640 |  |  | $ | 86,530 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 + Details
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Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration