Product Warranty and Related Liabilities | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | | | March 31, 2022 | | March 31, 2021 | | Product Warranty and Related Liabilities | | | | | | | | | Warranty balance at beginning of period | | | | | $ | 9,774 | | | $ | 8,242 | | | Warranties issued and assumed in period – recall campaigns | | | | | 132 | | | 120 | | | Warranties issued and assumed in period – product warranty | | | | | 461 | | | 443 | | | Payments | | | | | (1,077) | | | (733) | | | Adjustments to pre-existing warranties | | | | | (5) | | | 11 | | | Effect of foreign currency and other | | | | | 17 | | | (6) | | | Warranty balance at end of period | | | | | 9,302 | | | 8,077 | | | Less: Supplier recoveries balance at end of period(a) | | | | | 2,025 | | | 193 | | | Warranty balance, net of supplier recoveries at end of period | | | | | $ | 7,277 | | | $ | 7,884 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
__________ (a)The current portion of supplier recoveries is recorded in Accounts and notes receivable, net of allowance and the non-current portion is recorded in Other assets.
| | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | | | | March 31, 2022 | | March 31, 2021 | | Product warranty expense, net of recoveries | | | | | | | | | | Warranties issued and assumed in period | | | | | $ | 593 | | | $ | 563 | | | Supplier recoveries accrued in period | | | | | (57) | | | (72) | | | | Adjustments and other | | | | | 12 | | | 5 | | | Warranty expense, net of supplier recoveries | | | | | $ | 548 | | | $ | 496 | | |
We estimate our reasonably possible loss in excess of amounts accrued for recall campaigns to be insignificant at March 31, 2022. Refer to Note 14 to our condensed consolidated financial statements for more details.
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