Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 50

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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Balance at June 29, 2024$4.0 

10

Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

Product WarrantiesWe record a liability for product warranties at the time of the related sale of goods. The liability is estimated using historical warranty experience, projected claim rates and expected costs per claim. We adjust our liability for specific warranty matters when they become known and the exposure can be estimated. Product failure rates as well as material usage and labor costs incurred in correcting a product failure affect our warranty liabilities. If actual costs differ from estimated costs, we must make a revision to the warranty liability. Generally, we offer warranties ranging between one and three years for our products with the exception of warranties for roofing at one of our business units, where we offer warranties of up to 10 years.The activity related to product warranty liabilities recorded in accrued expenses and other current liabilities during the six month periods ended June 28, 2025 and June 29, 2024, is as follows:(dollar amounts in millions)Balance at December 28, 2024$4.8 Incremental warranty provision 0.2 Warranty charges incurred (0.2)Balance at June 28, 2025$4.8 (dollar amounts in millions)Balance at December 30, 2023$2.3 Incremental warranty provision0.2 Warranty charges incurred (0.1)Balance at June 29, 2024$2.4 Concentrations of RiskFinancial instruments that are potentially subject to concentration of credit risk consist primarily of cash and accounts receivable. We maintain cash in bank deposit accounts that, at times, may exceed the insured limits of the local country. We have not experienced any losses in such accounts. We sell our products and services primarily in the United States. We perform ongoing evaluations of our customers’ financial condition and limit the amount of credit extended when deemed necessary. We generally do not require our customers to provide collateral or other security to support accounts receivable. As of June 28, 2025, no customers represented more than 10% of our accounts receivable balance. For the three and six months periods ended June 28, 2025, there were no customers that represented more than 10% of revenues. For the six month period ended June 28, 2025, we had one vendor that accounted for 14% of all raw material and finished goods