Warranty Accrual

6 Months Ended

Jul. 31, 2022

Product Warranties Disclosures [Abstract]

The Company provides a warranty against all substantial defects in material and workmanship. The standard warranty offered on products sold through January 31, 2013 is ten years. Effective February 1, 2014 the Company modified its warranty to a limited lifetime warranty. The warranty effective February 1, 2014 is not anticipated to have a significant effect on warranty expense. Effective January 1, 2017, the Company modified the standard warranty offered on products sold after January 1, 2017 to provide specific warranty periods by product component, with no warranty period longer than ten years. The Company’s warranty is not a guarantee of service life, which depends upon events outside the Company’s control and may be different from the warranty period. The Company accrues an estimate of its exposure to warranty claims based upon both product sales data and an analysis of actual warranty claims incurred.

The following is a summary of the Company’s warranty-claim activity for the three and six months ended July 31, 2022 and 2021:


	Three Months Ended				Six Months Ended
	7/31/2022		7/31/2021		7/31/2022		7/31/2021
	(in thousands)
Beginning balance	$	600	$	700	$	600	$	700
Provision	116		13		150		56
Costs incurred	(66)		(13)		(100)		(56)
Ending balance	$	650	$	700	$	650	$	700