Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 44

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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ash and Cash EquivalentsCash and cash equivalents includes the Company’s short-term highly liquid investments that are readily convertible to known amounts of cash and have maturities of three months or less from the date of purchase. Interest income on cash equivalents is offset against interest expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. Interest income was $1.1 for the three month period ended March 29, 2025. There was no interest income for the three month period ended March 30, 2024. Accounts Receivable and Allowance for Credit Losses Accounts receivable primarily arise from the sale of products and services to customers. Accounts receivable are recorded at the invoiced amount and do not bear interest. Additionally, accounts receivable are stated at estimated net realizable value, net of allowance for credit losses, which is based on the Company’s assessment of the collectability of customer accounts. The activity for the allowance for credit losses during the three month periods ended March 29, 2025 and March 30, 2024, is as follows:(dollar amounts in millions)Balance at December 28, 2024$18.1 Write-offs (3.2)Provision for expected credit losses, net0.2 Balance at March 29, 2025$15.1 Balance at December 30, 2023$3.6 Write-offs — Provision for expected credit losses, net0.5 Balance at March 30, 2024$4.1 

10

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

Product WarrantiesThe Company records 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. The Company adjusts its 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 the Company’s warranty liabilities. If actual costs differ from estimated costs, the Company must make a revision to the warranty liability. Generally, the Company offers 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 three month periods ended March 29, 2025 and