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Product Warranties

9 Months Ended

Sep. 30, 2022

Product Warranties Disclosures [Abstract]

PRODUCT WARRANTIES

PRODUCT WARRANTIES

The Company typically provides one to five years parts and service warranties on lasers, laser and non-laser systems, and amplifiers. Most of the Company's sales offices provide support to customers in their respective geographic areas. Warranty reserves have generally been sufficient to cover product warranty repair and replacement costs.

Activity related to the warranty accrual was as follows:

			Nine Months Ended September 30,
			2022						2021
Balance, beginning of period			$	49,864					$	45,669
Provision for warranty accrual			18,280						26,535
Warranty claims			(13,968)						(21,576)
Foreign currency translation			(4,198)						(1,774)
Balance, end of period			$	49,978					$	48,854

Accrued warranty reported in the accompanying condensed consolidated financial statements as of September 30, 2022 and December 31, 2021 consisted of $26,800 and $26,204 in accrued expenses and other current liabilities, respectively, and $23,178 and $23,660 in other long-term liabilities and deferred income taxes, respectively.

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- References

No definition available.

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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 https://asc.fasb.org/topic&trid=2155896

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