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Product Warranty and Recall Campaigns | 3 Months Ended
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Mar. 27, 2022
Product Warranties Disclosures [Abstract] |
Product Warranty and Recall Campaigns | Product Warranty and Recall CampaignsThe Company currently provides a standard two-year limited warranty on all new motorcycles sold worldwide, except in certain markets, where the Company currently provides a standard three-year limited warranty. The Company also provides a five-year unlimited warranty on the battery for electric motorcycles. In addition, the Company provides a one-year warranty for parts and accessories. The warranty coverage for the retail customer generally begins when the product is sold to a retail customer. The Company accrues for future warranty claims at the time of shipment using an estimated cost based primarily on historical Company claim information. Additionally, the Company has from time to time initiated certain voluntary recall campaigns. The Company records estimated recall costs when the liability is both probable and estimable. This generally occurs when the Company's management approves and commits to a recall. The warranty and recall liability is included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets. Changes in the Company’s warranty and recall liabilities were as follows (in thousands):
|  |  | Three months ended
|  |  |  |  | March 27, 2022 |  | March 28, 2021
Balance, beginning of period |  |  |  |  | $ | 61,621 |  |  | $ | 69,208 |
Warranties issued during the period |  |  |  |  | 10,711 |  |  | 11,672 |
Settlements made during the period |  |  |  |  | (7,096) |  |  | (8,585) |
Recalls and changes to pre-existing warranty liabilities |  |  |  |  | (141) |  |  | 132 |
Balance, end of period |  |  |  |  | $ | 65,095 |  |  | $ | 72,427 |
The liability for recall campaigns, included in the balance above, was $16.7 million, $16.9 million and $25.3 million at March 27, 2022, December 31, 2021 and March 28, 2021, respectively.

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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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