The Company offers product warranties to its Commercial and Commercial In-Home customers depending upon the specific product type and the product use. Standard product warranties vary from one to seven years. The standard warranty program includes replacement of defective components. Additionally, the standard warranty covers labor costs for repairs solely related to Commercial In-Home equipment.

The Company records an estimate for future warranty related costs based on the projected incident rates of occurrence and projected cost per incident. The carrying amount of the Company’s warranty liability is adjusted as necessary based on an analysis of these and other factors.

The following table presents the changes in the carrying amount of the total product warranty liability.


	Three Months Ended March 31,
(in thousands)	2026		2025
Balance at beginning of period	$	69,160	$	51,787
Currency translation adjustment	(130)		72
Accruals charged to earnings	11,567		9,189
Payments made during the period	(8,105)		(7,158)
Balance at end of period	$	72,492	$	53,890

Product warranty of $31.2 million and $30.4 million is recorded in Other current liabilities in the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, respectively. Product warranty of $41.3 million and $38.7 million is recorded in Other long-term liabilities in the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, respectively.