Warranties

The Company's standard warranty is up to one year for parts and services and five years for new railcars. Factors affecting the Company's warranty liability include the number of units sold, historical and anticipated warranty claim rates and costs per claim. Fluctuations in the Company's warranty provision and experience of warranty claims are the result of variations in these factors. The Company assesses the adequacy of its warranty liability based on changes in these factors.

The overall change in the Company’s warranty reserve is reflected on the condensed consolidated balance sheets in accrued expenses and other liabilities and is detailed as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(in thousands)
Liability, beginning of period	$	8,388		$	3,006		$	8,838		$	2,439
Provision for warranties issued during the period, net of adjustments	506			120			869			354
Adjustments to warranties issued during previous periods	91			658			(332		)	1,578
Warranty claims	(63		)	(113		)	(453		)	(700		)
Liability, end of period	$	8,922		$	3,671		$	8,922		$	3,671