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Note 10 - Warranty Reserve Liability | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Product Warranty Disclosure [Text Block] |
10. | Warranty reserve liability
We reserve estimated exposures on known claims, as well as on a portion of anticipated claims, for product warranty and rework cost, based on historical product liability claims. Claim costs are deducted from the accrual when paid. Factors that could have an impact on the warranty accrual in any given period include the following: changes in manufacturing quality, changes in product costs, changes in product mix and any significant changes in sales volume. A rollforward of our warranty liability is as follows:
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Beginning balance as of December 31, 2021, 2020, and 2019 |  | $ | 9,398 |  |  | $ | 212 |  |  | $ | 191 |
Warranty reserve acquired in the acquisition of Global Cooling |  |  | - |  |  |  | 3,353 |  |  |  | - |
Provision for warranties⁽¹⁾ |  |  | 4,463 |  |  |  | 10,989 |  |  |  | 137 |
Settlements of warranty claims⁽¹⁾ |  |  | (5,549 | ) |  |  | (5,156 | ) |  |  | (116 | )
Ending Balance |  |  | 8,312 |  |  |  | 9,398 |  |  |  | 212 |
| (1) | Both the Provision for warranties and Settlements of warranty claims balances include reclassifications of $1.6 million and $1.1 million for the years ended December 31, 2022 and 2021, respectively, to reflect changes in warranty utilization on pre-existing claims.

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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 + Details
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