Financial Instruments

12 Months Ended

Dec. 31, 2015

Investments All Other Investments Abstract

2.	Financial Instruments

Our financial instruments consist primarily of investments in cash and cash equivalents, receivables and certain other assets, and accounts payable, which approximate fair value at December 31, 2015, due to their short-term nature or variable, market-driven interest rates. Also, our debt is deemed to approximate fair value at December 31, 2015, as a substantial amount of our debt was recently refinanced in conjunction with the PMFG acquisition, and neither our credit rating nor market credit conditions have changed substantially since the debt was refinanced, and the debt contains variable, market-driven interest rates.

Concentrations of credit risk:

Financial instruments that potentially subject us to credit risk consist principally of cash and accounts receivable. We maintain cash and cash equivalents with various major financial institutions. We perform periodic evaluations of the financial institutions in which our cash is invested. Concentrations of credit risk with respect to trade and contract receivables are limited due to the large number of customers and various geographic areas. Additionally, we perform ongoing credit evaluations of our customers’ financial condition. As of December 31, 2015, the Company has $23.3 million of cash held internationally, principally in the Netherlands, United Kingdom, China and Canada.