v3.25.1
Warranty Reserves
3 Months Ended
Mar. 29, 2025
Product Warranties Disclosures [Abstract]  
Warranty Reserves

7. Warranty Reserves

The Company accrues for estimated future warranty costs at the time products are sold. The Company’s standard warranty obligation to retail partners generally provides for a right of return of any product for a full refund in the event that such product is not merchantable, is damaged, or is defective. The Company’s standard warranty obligation to its end-users provides for a period of one to two years from the date of shipment, while certain aviation, marine, and auto OEM products have a warranty period of two years or more from the date of installation. The Company’s estimates of costs to service its warranty obligations are based on historical experience and management’s expectations and judgments of future conditions, with most claims resolved within a year of the sale. The following reconciliation presents details of the changes in the Company's accrued warranty costs:

 

 

13-Weeks Ended

 

 

 

March 29, 2025

 

 

March 30, 2024

 

Balance - beginning of period

 

$

62,473

 

 

$

55,738

 

Accrual for products sold (1)

 

 

22,084

 

 

 

18,362

 

Expenditures

 

 

(23,415

)

 

 

(18,881

)

Balance - end of period

 

$

61,142

 

 

$

55,219

 

 

(1) Changes in cost estimates related to pre-existing warranties were not material and are aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.