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, 2014 and 2013 (thousands of dollars):


	April 30,
	2014	2013
Beginning balance	$ 10,526	$ 10,905
Accruals for warranties issued during the reporting period	2,274	5,479
Accruals related to pre-existing warranties (including changes in estimates)	(452)	(105)
Less settlements made during the period	(3,270)	(3,538)
Ending balance	$ 9,078	$ 12,741

There were no significant specific warranty matters accrued for in the periods ended April 30, 2014 or 2013. The Company’s warranty matters are not expected to have a material impact on its results of operations, liquidity, or financial position.