Warranties

9 Months Ended

Sep. 30, 2024

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:

	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Warranty accrual:	(in thousands)
Balance, beginning of period	$	21,632	$	16,900	$	20,573	$	15,682
Payments made	(3,672)		(3,337)		(9,331)		(7,653)
Warranty expense	4,670		4,248		11,388		9,782
Balance, end of period	$	22,630	$	17,811	$	22,630	$	17,811