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 six months ended January 31, 2015 and 2014 (thousands of dollars):


	January 31,
	2015	2014
Beginning balance	$ 9,029	$ 10,526
Accruals for warranties issued during the reporting period	1,617	1,710
Accruals related to pre-existing warranties (including changes in estimates)	(204)	(342)
Less settlements made during the period	(2,020)	(2,404)
Ending balance	$ 8,422	$ 9,490

There were no significant specific warranty matters accrued for in the periods ended January 31, 2015 or 2014. The Company’s warranty matters are not expected to have a material impact on our results of operations, liquidity, or financial position.