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Warranty Liabilities | 12 Months Ended
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Dec. 31, 2022
Product Warranties Disclosures [Abstract] |
Warranty Liabilities | Warranty Liabilities The Company's warranty liabilities are primarily related to watch products and are included in accrued expenses—other in the consolidated balance sheets. The Company's watch products are covered by limited warranties of various lengths against defects in materials or workmanship. The Company's warranty liability is estimated using historical warranty repair expense. As changes occur in sales volumes and warranty costs, the warranty accrual is adjusted as necessary. Due to the nature of smartwatch products, their warranty costs are usually more than traditional products. A shift in product mix from smartwatch to traditional products generally results in a decrease in the Company's warranty liabilities. Warranty liability activity consisted of the following (in thousands):
Fiscal Year | 2022 |  | 2021 |  | 2020
Beginning balance | $ | 19,159 |  |  | $ | 21,916 |  |  | $ | 23,095 |
Settlements in cash or kind | (8,630) |  |  | (10,263) |  |  | (14,843) |
Warranties issued and adjustments to preexisting warranties(1) | 3,094 |  |  | 7,506 |  |  | 13,664 |
Ending balance | $ | 13,623 |  |  | $ | 19,159 |  |  | $ | 21,916 |
____________________________________________ (1)Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes.

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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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