Warranty Accrual

9 Months Ended

Oct. 31, 2023

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 was 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 nine months ended October 31, 2023 and 2022:


	Three Months Ended				Nine Months Ended
	10/31/2023		10/31/2022		10/31/2023		10/31/2022
	(In thousands)
Beginning balance	$	600	$	650	$	600	$	600
Provision	54		106		145		256
Costs incurred	(54)		(56)		(145)		(156)
Ending balance	$	600	$	700	$	600	$	700