Annual report pursuant to Section 13 and 15(d)

Warranty

v2.4.1.9
Warranty
 12 Months Ended
Dec. 31, 2014
Guarantees [Abstract]  
Warranty

NOTE 7 — WARRANTY

In the ordinary course of business, the Company warrants its products against defects in design, materials and workmanship typically over periods ranging from twelve to sixty months. The Company determines warranty reserves needed by product line based on experience and current facts and circumstances. Activity in the warranty accrual, which is included in other accrued expenses on the Consolidated Balance Sheets, is summarized as follows:

 

(In thousands)    2014      2013      2012  

Balance at Beginning of the Year

    $ 2,796       $ 2,551       $ 1,092   

Warranty Liabilities Acquired

      564         671         —     

Warranties Issued

      3,431         722         2,430   

Reassessed Warranty Exposure

      (34 )       (222 )       —     

Warranties Settled

      (1,873 )       (926 )       (971 ) 
  

 

 

     

 

 

     

 

 

  

Balance at End of the Year

 $ 4,884    $ 2,796    $ 2,551