EnerSys
For the period ended Mar 31, 2024. Filed May 22, 2024.
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FY2024 · Filed May 22, 2024
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21. Warranty
- Warranty
The Company provides for estimated product warranty expenses when products are sold, with related liabilities included within accrued expenses and other liabilities. As warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, costs of claims may ultimately differ from amounts provided. An analysis of changes in the liability for product warranties is as follows:
| Fiscal year ended March 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Balance at beginning of year | $56,630 | $54,978 | $58,962 |
| Current year provisions | 34,110 | 29,132 | 17,645 |
| Costs incurred | (30,160) | (25,251) | (20,648) |
| Foreign currency translation adjustment | 239 | (2,229) | (981) |
| Balance at end of year | $60,819 | $56,630 | $54,978 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.