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GWW » Topics » 4. WARRANTY RESERVES

This excerpt taken from the GWW 10-Q filed May 4, 2009.
4.  WARRANTY RESERVES
 
The Company generally warrants the products it sells against defects for one year.  For a significant portion of warranty claims, the manufacturer of the product is responsible for the expenses associated with this warranty program.  For warranty expenses not covered by the manufacturer, the Company provides a reserve for future costs based on historical experience.  The warranty reserve activity was as follows (in thousands of dollars):
 
   
Three Months Ended March 31,
  
   
2009
    
2008
  
Beginning balance
   $ 3,218     $ 3,443  
Returns
     (2,684 )     (3,308 )
Provision
     2,643       3,112  
Ending balance
   $ 3,177     $ 3,247  
 
 
This excerpt taken from the GWW 10-Q filed May 2, 2007.

4.  WARRANTY RESERVES

 

The Company generally warrants the products it sells against defects for one year. For a significant portion of warranty claims, the manufacturer of the product is responsible for the expenses associated with this warranty program. For warranty expenses not covered by the manufacturer, the Company provides a reserve for future costs based on historical experience. The warranty reserve activity was as follows:

 

 

Three Months Ended March 31,

 

 

 

2007

 

2006

 

(In thousands of dollars)

 

 

 

 

 

 

Beginning balance

 

$                     4,651 

 

$                   3,763 

Returns

 

(4,382)

 

(1,003)

Provision

 

3,468 

 

1,319 

Ending balance

 

$                     3,737 

 

$                   4,079 

 

 

10

 

W.W. Grainger, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Unaudited)

 

EXCERPTS ON THIS PAGE:

10-Q
May 4, 2009
10-Q
May 2, 2007

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