Note J – Warranty

The Company estimates warranty expense using quantitative measures based on historical warranty claim experience and evaluation of specific Customer warranty issues. Following is a reconciliation of warranty reserves for the nine months ended April 30, 2013 and 2012 (thousands of dollars):


	April 30,
	2013			2012
Beginning balance	$	10,905		$	19,720
Accruals for warranties issued during the reporting period		5,479			4,188
Accruals related to pre-existing warranties (including changes in estimates)		(105	)		(1,416	)
Less settlements made during the period		(3,538	)		(7,841	)
Ending balance	$	12,741		$	14,651

There were no significant specific warranty matters accrued for in the periods ended April 30, 2013 or 2012. The Company's warranty matters are not expected to have a material impact on its results of operations, liquidity, or financial position.