As of April 30, 2026, the Company had outstanding standby letters of credit and guarantees with financial institutions aggregating $15.3 million. These guarantees and standby letters of credit pertain to performance guarantees issued in connection with customer contracts entered into by certain of the Company's subsidiaries, and a payment guarantee related to potential workers' compensation claims.

Changes in the Company’s product warranty liability for the six months ended April 30, 2026 and 2025, respectively, are as follows (in thousands):


	Six months ended April 30,
	2026	2025
Balances as of beginning of fiscal year	$5,768	$4,036
Acquired warranty liabilities	4,939	431
Accruals for warranties	4,693	1,261
Warranty claims settled	(2,238)	(1,402)
Balances as of April 30	$13,162	$4,326

The Company is involved in various legal actions arising in the normal course of business. Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these matters will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.