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Product Warranty Obligations

3 Months Ended

Mar. 31, 2014

Product Warranty Obligations [Abstract]

Product Warranty Obligations

6. Product Warranty Obligations

The Company records a liability for product warranty obligations at the time of sale to a customer based upon historical warranty experience. The Company also records a liability for specific warranty matters when they become known and are reasonably estimable. The Company also sells extended warranty coverage for certain products. The sales of extended warranties are recorded as deferred revenue, and we recognize the revenue from sales of extended warranties over the life of the contracts. The Company’s product warranty obligations, including deferred revenue related to extended warranty coverage, are included in other accrued liabilities and other long-term liabilities in the consolidated balance sheets.

The following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to extended warranty coverage:

		For the three months ended March 31,
		2014				2013
Balance at beginning of period		$	33,734			$	36,112
Payments			(6,723	)			(5,694	)
Provision for warranties issued			6,039				10,989
Changes in estimates for pre-existing warranties			(1,143	)			(1,200	)
Balance at end of period		$	31,907			$	40,207

The following is a tabular reconciliation of the deferred revenue related to extended warranty coverage:

		For the three months ended March 31,
		2014				2013
Balance at beginning of period		$	23,092			$	13,473
Deferred revenue on extended warranty contracts sold			2,219				2,138
Amortization of deferred revenue on extended warranty contracts			(679	)			(569	)
Balance at end of period		$	24,632			$	15,042

Product warranty obligations and warranty related deferred revenues are included in the balance sheets as follows:

		March 31,				December 31,
		2014				2013
Product warranty liability
Current portion - other accrued liabilities		$	24,253			$	26,080
Long-term portion - other long-term liabilities			7,654				7,654
Total		$	31,907			$	33,734
Deferred revenue related to extended warranty
Current portion - other accrued liabilities		$	4,865			$	3,325
Long-term portion - other long-term liabilities			19,767				19,767
Total		$	24,632			$	23,092

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- Definition

The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 45

-Paragraph 14

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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