Company: JOUT
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001140361-25-028318
Chunk: 16

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 16
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 as they are sold. The following table summarizes the Company’s warranty activity for the nine months ended June 27, 2025 and June 28, 2024. June 27, 2025June 28, 2024Balance at beginning of period$10,211 $11,741 Expense accruals for warranties issued during the period8,969 6,359 Less current period warranty claims paid(6,737)(7,168)Balance at end of period$12,443 $10,932 

10    CONTINGENCIES

The Company is subject to various legal actions and proceedings in the normal course of business, including those related to commercial disputes, product liability, intellectual property and regulatory matters. The Company is insured against loss for certain of these matters. Although litigation is subject to many uncertainties and the ultimate exposure with respect to these matters cannot be ascertained, management does not believe the final outcome of any pending litigation will have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

11    INDEBTEDNESS

The Company had no debt outstanding at June 27, 2025, September 27, 2024, or June 28, 2024.RevolverThe Company and certain of its subsidiaries have entered into an unsecured credit facility with PNC Bank National Association and Associated Bank, N.A. ("the Lending Group").  This credit facility consists of a $75 million Revolving Credit Facility among the Company, certain of the Company’s subsidiaries, PNC Bank National Association, as lender and as administrative agent, and the other lender named therein (as amended, the “Credit Agreement” or “Revolver”).  The Revolver provides for borrowing of up to an aggregate principal amount not to exceed $75,000 with a $50,000 accordion feature that gives the Company the option to request an increase of the maximum financing availability (i.e., an aggregate borrowing amount of $125,000) subject to the conditions of the Credit Agreement and subject to the approval of the lenders.  On July 15, 2021, the Company entered into a First Amendment to this credit facility that extended its expiration date from November 15, 2022, to July 15, 2026.  On January 29, 2025, the Company entered into a Second Amendment to this credit facility that reduced the Revolver to $50,000 (but maintained the accordion