v3.24.2
WARRANTY OBLIGATIONS
 6 Months Ended
Jun. 30, 2024
Product Warranties Disclosures [Abstract]  
WARRANTY OBLIGATIONS WARRANTY OBLIGATIONS
The Company’s warranty obligation activities were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
(In thousands)
Warranty obligations, beginning of period$177,164 $146,034 $189,087 $131,446 
Accruals for warranties issued during period6,424 16,344 12,522 32,515 
Benefit from changes in estimates(275)(10,363)(12,636)(6,635)
Settlements(7,606)(5,092)(14,499)(13,986)
Increase due to accretion expense2,690 3,907 5,595 7,452 
Change in discount rate(1)
759 31,797 759 31,797 
Other(1,977)(1,912)(3,649)(1,874)
Warranty obligations, end of period177,179 180,715 177,179 180,715 
Less: warranty obligations, current(30,261)(36,686)(30,261)(36,686)
Warranty obligations, non-current$146,918 $144,029 $146,918 $144,029 
(1)    Refer to Note 7, “Fair Value Measurements” for additional information about the monetary impact for change in the discount rate.
Changes in Estimates
In the three months ended June 30, 2024, the Company recorded $0.3 million in warranty benefit from change in estimates, of which $1.8 million and $1.4 million related to a decrease in product replacement costs and continuing analysis of field performance data and diagnostic root-cause failure analysis, respectively, for Enphase IQ® Battery storage systems, partially offset by an increase of $2.9 million for continuing analysis of field performance data and diagnostic root-cause failure analysis for all other products. In the three months ended June 30, 2023, the Company recorded $10.4 million in warranty benefit from change in estimates, of which $14.4 million related to a decrease in product replacement costs related to Enphase IQ Battery systems and $2.1 million related to a decrease in product replacement costs for all other products, partially offset by $6.1 million for increasing the warranty period for the Enphase IQ Battery from 10 years to 15 years.
In the six months ended June 30, 2024, the Company recorded $12.6 million in warranty benefit from change in estimates, of which $11.1 million and $4.4 million related to a decrease in product replacement costs and continuing analysis of field performance data and diagnostic root-cause failure analysis, respectively, for Enphase IQ® Battery storage systems, partially offset by an increase of $2.9 million for continuing analysis of field performance data and diagnostic root-cause failure analysis for all other products. In the six months ended June 30, 2023, the Company recorded $6.6 million in warranty benefit from change in estimates, of which $20.5 million related to a decrease in product replacement costs related to Enphase IQ Battery systems and $2.1 million related to decrease in product replacement costs for all other products, partially offset by $6.1 million for increasing the warranty period for the Enphase IQ Battery from 10 years to 15 years, and by $9.9 million related to continuing analysis of field performance data and diagnostic root-cause failure analysis primarily for Enphase IQ Battery storage systems and prior generation products.