XML 36 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Valuation Accounts
 12 Months Ended
Dec. 31, 2011
Valuation Accounts [Abstract]  
VALUATION ACCOUNTS

6. VALUATION ACCOUNTS:

Valuation and allowance accounts include the following (in thousands):

 

      September 30,       September 30,       September 30,       September 30,       September 30,  
    Balance
Beginning
of Year		     Net Charged
to Costs and
Expenses		     Acquisitions     Net Write-
Offs		     Balance
End
of Year		  
           

2011

                                        

Reserve for accounts receivable

   $ 1,040     $ 627             $ (1,187 )    $ 480  

Reserve for warranty receivable

     279       336               (135 )      480  

Reserve for parts inventory

     2,055       1,909     $ 650       (1,208 )      3,406  

Reserve for commercial vehicle inventory

     1,275       5,807               (5,458 )      1,624  
           

2010

                                        

Reserve for accounts receivable

   $ 204     $ 1,645             $ (809 )    $ 1,040  

Reserve for warranty receivable

     553       794               (1,068 )      279  

Reserve for parts inventory

     1,956       1,360     $ 43       (1,304 )      2,055  

Reserve for construction equipment inventory

     1,497       (1,497 )              —         —    

Reserve for commercial vehicle inventory

     2,909       4,024               (5,658 )      1,275  
           

2009

                                        

Reserve for accounts receivable

   $ 110     $ 535             $ (441 )    $ 204  

Reserve for warranty receivable

     401       512               (360 )      553  

Reserve for parts inventory

     1,613       1,638               (1,295 )      1,956  

Reserve for construction equipment inventory

     723       900               (126 )      1,497  

Reserve for commercial vehicle inventory

     3,463       13,277               (13,831 )      2,909  

Allowance for Doubtful Receivables

The Company provides an allowance for uncollectible warranty receivables. The Company evaluates the collectibility of its warranty claims receivable based on a combination of factors, including aging and correspondence with the applicable manufacturer. Management reviews the warranty claims receivable aging and adjusts the allowance based on historical experience. The Company records charge-offs related to warranty receivables on an as-needed basis.

The Company sells a majority of its customer accounts receivable on a non-recourse basis to a third party that is responsible for qualifying the customer for credit at the point of sale. If the third party approves the customer for credit, then the third party assumes all credit risk related to the transaction. The Company provides an allowance for doubtful receivables after considering historical loss experience and other factors that might affect the collection of accounts receivable.

Inventory

The Company provides a reserve for obsolete and slow moving parts. The reserve is reviewed and, if necessary, adjustments are made on a quarterly basis. The Company relies on historical information to support its reserve. Once the inventory is written down, the Company does not adjust the reserve balance until the inventory is sold.

The valuation for new and used commercial vehicle inventory is based on specific identification. A detail of new and used commercial vehicle is reviewed and, if necessary, adjustments to the value of specific units are made on a quarterly basis.