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Liability for Warranty Returns | 6 Months Ended
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Jun. 30, 2022
Product Warranties Disclosures [Abstract] |
Liability for Warranty Returns | 16. LIABILITY FOR WARRANTY RETURNS Our products generally include warranties of 90 days to five years for product defects. We accrue for warranty returns at the time of product shipment based on our historical return rate and estimate of the cost to repair or replace the defective products. We engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers. The increasing complexity of our products may cause warranty incidences, when they arise, to be more costly. Estimates regarding future warranty obligations may change due to product failure rates, material usage and other rework costs incurred in correcting a product failure. In addition, from time to time, specific warranty accruals may be recorded if unforeseen problems arise. Should our actual experience relative to these factors be worse than our estimates, we will be required to record additional warranty expense. The liability for warranty obligations totaled $4.8 million and $5.4 million as of June 30, 2022 and December 31, 2021, respectively, and is included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. During the three months ended June 30, 2021, we had a net reversal of prior provisions related to warranty expirations the impact of which is reflected in the table below. The warranty expense and write-off activity for the three and six months ended June 30, 2022 and 2021 is summarized as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Balance at beginning of period |  | $ | 5,143 |  |  | $ | 6,472 |  |  | $ | 5,403 |  |  | $ | 7,146 |
Plus: Amounts charged to cost and expenses |  |  | 814 |  |  |  | 11 |  |  |  | 1,111 |  |  |  | (220 | )
Less: Deductions |  |  | (1,115 | ) |  |  | (486 | ) |  |  | (1,672 | ) |  |  | (929 | )
Balance at end of period |  | $ | 4,842 |  |  | $ | 5,997 |  |  | $ | 4,842 |  |  | $ | 5,997 |

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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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