As of July 31, 2026, the Company had outstanding standby letters of credit and guarantees with financial institutions aggregating $14.4 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 nine months ended July 31, 2026 and 2025, respectively, are as follows (in thousands):


	Nine months ended July 31,
	2026	2025
Balances as of beginning of fiscal year	$5,768	$4,036
Accruals for warranties	6,990	1,955
Acquired warranty liabilities	5,859	1,052
Warranty claims settled	(3,965)	(2,265)
Balances as of July 31	$14,652	$4,778

As of July 31, 2026 and October 31, 2025, product warranty liabilities included in accrued expenses and other current liabilities were $7.8 million and $5.8 million, respectively, and product warranty liabilities included in other long-term liabilities were $6.9 million and $0.0 million, respectively.

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.