Warranties

12 Months Ended

Dec. 31, 2023

Guarantees [Abstract]

Warranties

Warranties

The Company has product warranties with various terms from one year from the date of first use or 18 months for parts, data center cooling solutions, and cleanroom systems to 25 years for certain heat exchangers. The Company has an obligation to replace parts if conditions under the warranty are met. A provision is made for estimated warranty costs at the time the related products are sold based upon the warranty period, historical trends, new products, and any known identifiable warranty issues.  

Changes in the warranty accrual are as follows:

	Years Ended December 31,
	2023		2022		2021
Warranty accrual:	(in thousands)
Balance, beginning of period	$	15,682	$	13,769	$	13,522
Payments made	(11,274)		(6,584)		(6,734)
Provisions	16,165		8,497		6,351
Assumed in business combination (Note 4)	—		—		630
Balance, end of period	$	20,573	$	15,682	$	13,769
Warranty expense:	$	16,165	$	8,497	$	6,351