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Note 9 - Product Warranty Obligations | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Product Warranty Disclosure [Text Block] |
9. | 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. Additionally, the Company sells extended warranty coverage for certain products. The sales of extended warranties are recorded as deferred revenue, which is recognized over the life of the contracts. The following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to our extended warranty coverage:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Balance at beginning of period |  | $ | 30,197 |  |  | $ | 30,909 |  |  | $ | 33,734 |
Product warranty reserve assumed in acquisition |  |  | 840 |  |  |  | 351 |  |  |  | 360 |
Payments |  |  | (18,691 | ) |  |  | (21,686 | ) |  |  | (20,975 | )
Provision for warranty issued |  |  | 19,148 |  |  |  | 20,823 |  |  |  | 22,890 |
Changes in estimates for pre-existing warranties |  |  | 201 |  |  |  | (200 | ) |  |  | (5,100 | )
Balance at end of period |  | $ | 31,695 |  |  | $ | 30,197 |  |  | $ | 30,909 |
The following is a tabular reconciliation of the deferred revenue related to extended warranty coverage :
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Balance at beginning of period |  | $ | 28,961 |  |  | $ | 27,193 |  |  | $ | 23,092 |
Deferred revenue contracts assumed in acquisition |  |  | - |  |  |  | 291 |  |  |  | - |
Deferred revenue contracts issued |  |  | 7,733 |  |  |  | 5,978 |  |  |  | 7,343 |
Amortization of deferred revenue contracts |  |  | (5,614 | ) |  |  | (4,501 | ) |  |  | (3,242 | )
Balance at end of period |  | $ | 31,080 |  |  | $ | 28,961 |  |  | $ | 27,193 |
Product warranty obligations and warranty related deferred revenues are included in the balance sheets as follows:
|  | December 31, |
|  | 2016 |  |  | 2015 |
Product warranty liability |  |  |  |  |  |  |  |
Current portion - other accrued liabilities |  | $ | 20,763 |  |  | $ | 21,726 |
Long-term portion - other long-term liabilities |  |  | 10,932 |  |  |  | 8,471 |
Total |  | $ | 31,695 |  |  | $ | 30,197 |
Deferred revenue related to extended warranties |  |  |  |  |  |  |  |
Current portion - other accrued liabilities |  | $ | 6,728 |  |  | $ | 6,026 |
Long-term portion - other long-term liabilities |  |  | 24,352 |  |  |  | 22,935 |
Total |  | $ | 31,080 |  |  | $ | 28,961 |

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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=68068213&loc=d3e12565-110249 + Details
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