Home » Financials » 2004 Annual Report

Notes to Consolidated Financial Statements

Notes Seven: ACCRUED LIABILITIES

Accrued liabilities were as follows at November 30:

(In thousands) 2004 2003
Compensation and benefits $18,517 $19,909
Self insurance reserves 15,909 14,988
Product warranties and guarantees 4,297 3,770
Taxes (other than income taxes) 3,398 3,196
Reserves for pending claims and litigation 3,083 4,547
Commissions and royalties 1,562 1,490
Advances from customers 726 1,254
Interest 405 1,937
Other 5,324 2,000
 
  $53,221 $53,091

The Company's product warranty accrual reflects management's estimate of probable liability associated with product warranties. Management establishes product warranty accruals based on historical experience and other currently available information. Changes in the product warranty accrual for the year ended November 30 were as follows (in thousands):

 

(In thousands)
2004
2003
Balance, beginning of period
$3,770
$4,257
Payments made
(4,632)
(3,158)
Warranties issued during the period
5,159
$2,671
 
Balance, end of period
$4,297
$3,770
 

 

Note Eight

 
Home | About Ameron | Photo Gallery | Financials | News | Share Holders | Contact Us
       
Telephone:    
626.683.4000
Fax: 626.683.4060 		245 South Los Robles Avenue
Pasadena, California 91101-2820