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Nature of Operations and Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
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Dec. 31, 2011
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Inventory, Current |
The components of inventory are as follows: | | | | | | | | | | December 31, | | 2011 | | 2010 | Raw materials and supplies | $ | 64,832 |
| | $ | 35,565 |
| Work in process | 36,045 |
| | 23,643 |
| Finished goods | 48,945 |
| | 45,227 |
| | $ | 149,822 |
| | $ | 104,435 |
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| Property, Plant and Equipment |
The following table summarizes the components of property, plant and equipment:
| | | | | | | | | | | | | | December 31, | Classification | Estimated Useful Life | | 2011 | | 2010 | Land and buildings | 20-35 years | | $ | 96,984 |
| | $ | 72,783 |
| Machinery and equipment | 3-12 years | | 79,173 |
| | 69,572 |
| Computer equipment, furniture and fixtures | 3-7 years | | 16,043 |
| | 10,912 |
| Construction in process | | | 8,175 |
| | 8,800 |
| | | | 200,375 |
| | 162,067 |
| Less accumulated depreciation | | | (63,074 | ) | | (45,909 | ) | Total property, plant and equipment, net | | | $ | 137,301 |
| | $ | 116,158 |
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| Schedule of Goodwill |
The following table displays the gross carrying amount and accumulated amortization for finite-lived intangible assets and indefinite-lived intangible assets: | | | | | | | | | | | | | | | | | | | | Weighted Average Estimated Useful Life | | December 31, 2011 | | December 31, 2010 | | | | Gross Carrying Amount | | Accumulated Amortization | | Gross Carrying Amount | | Accumulated Amortization | Finite-lived assets | | | | | | | | | | Unpatented technology | 9 years | | $ | 18,113 |
| | $ | (9,024 | ) | | $ | 15,073 |
| | $ | (7,275 | ) | Patents | 10 years | | 9,080 |
| | (5,434 | ) | | 8,497 |
| | (4,304 | ) | Product names | 14 years | | 5,638 |
| | (1,818 | ) | | 5,676 |
| | (1,285 | ) | Non-compete agreements | 3 years | | 2,130 |
| | (2,130 | ) | | 2,130 |
| | (1,952 | ) | Customer relations | 13 years | | 130,488 |
| | (48,840 | ) | | 127,062 |
| | (39,103 | ) | | | | $ | 165,449 |
| | $ | (67,246 | ) | | $ | 158,438 |
| | $ | (53,919 | ) | Indefinite-lived intangible assets: | | | | | | | | | | Goodwill | | | $ | 288,770 |
| | | | $ | 275,252 |
| | | Trademarks and trade names | | | 39,280 |
| | | | 37,911 |
| | | In-process research and development | | | 3,070 |
| | | | 3,070 |
| | | | | | $ | 331,120 |
| | | | $ | 316,233 |
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| Schedule of Product Warranty Liability |
The changes in the Company’s consolidated warranty reserve are as follows: | | | | | | | | | | | | | | Year Ended December 31, | | 2011 | | 2010 | | 2009 | Balance at beginning of period | $ | 12,101 |
| | $ | 8,764 |
| | $ | 8,636 |
| Warranty expense | 7,420 |
| | 5,893 |
| | 3,316 |
| Warranty usage | (8,085 | ) | | (3,827 | ) | | (4,335 | ) | Acquired warranty reserves | 1,745 |
| | 1,271 |
| | 1,147 |
| Balance at end of period | $ | 13,181 |
| | $ | 12,101 |
| | $ | 8,764 |
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| Schedule of Accumulated Other Comprehensive Income (Loss) |
Shareholders’ Equity: The Company reports comprehensive income in its consolidated statement of shareholders’ equity. The components of accumulated other comprehensive income (loss) are as follows: | | | | | | | | | | December 31, | | 2011 | | 2010 | Foreign currency translation adjustments | $ | 12,635 |
| | $ | 14,938 |
| Pension liability adjustments, net of taxes of ($2,633) and ($470) at December 31, 2011 and 2010, respectively | (9,642 | ) | | (5,127 | ) | | $ | 2,993 |
| | $ | 9,811 |
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| Schedule of Earnings Per Share, Basic and Diluted |
The following table presents calculations of income per share of common stock: | | | | | | | | | | | | | | Year Ended December 31, | | 2011 | | 2010 | | 2009 | Net income attributable to Chart Industries, Inc. | $ | 44,076 |
| | $ | 20,160 |
| | $ | 61,011 |
| Net income attributable to Chart Industries, Inc. per common share — basic | $ | 1.51 |
| | $ | 0.71 |
| | $ | 2.14 |
| Net income attributable to Chart Industries, Inc. per common share — diluted | $ | 1.47 |
| | $ | 0.69 |
| | $ | 2.11 |
| Weighted average number of common shares outstanding — basic | 29,165 |
| | 28,534 |
| | 28,457 |
| Incremental shares issuable upon assumed conversion and exercise of stock options | 748 |
| | 721 |
| | 524 |
| Total shares — diluted | 29,913 |
| | 29,255 |
| | 28,981 |
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