PRODUCT WARRANTY RESERVE

6 Months Ended

Jun. 30, 2014

NOTE M – PRODUCT WARRANTY RESERVE

The Company records an accrual for estimated warranty costs to Costs of products sold in the Consolidated Statements of Income. These amounts are recorded in Accrued expenses and other liabilities in the Consolidated Balance Sheets. The Company records and accounts for its warranty reserve based on specific claim incidents. Should the Company become aware of a specific potential warranty claim for which liability is probable and reasonably estimable, a specific charge is recorded and accounted for accordingly. Adjustments are made quarterly to the accruals as claim information changes.

The following is a rollforward of the product warranty reserve:


	Six months ended June 30,
	2014			2013
Balance at the beginning of period	$	1,140		$	1,229
Additions charged to income		155			241
Warranty usage		(75	)		(218	)
Currency translation		20			(32	)

End of period balance	$	1,240		$	1,220