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Product Warranty Reserve

9 Months Ended

Sep. 30, 2021

NOTE O – PRODUCT WARRANTY RESERVE

The Company records an accrual for estimated warranty costs to Costs of products sold in the Statements of Consolidated Income. These amounts are recorded in Accrued expenses and other liabilities on the Company’s Consolidated Balance Sheets. The Company records and accounts for its warranty reserve based on specific claim incidents. Should the Company become aware of a specific potential warranty claim for which liability is probable and reasonably estimable, a specific charge is recorded and accounted for accordingly. Adjustments are made quarterly to the accruals as claim information changes.

The following is a rollforward of the product warranty reserve:


	Nine Months Ended September 30
	2021			2020
Beginning of period balance	$	1,282		$	1,309
Additions charged to income		1,760			247
Warranty usage		(244	)		(37	)
Currency translation		(61	)		(76	)
End of period balance	$	2,737		$	1,443