Product Warranty Reserve

12 Months Ended

Dec. 31, 2014

Note O – 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:


	2014			2013			2012
Balance at January 1	$	1,140		$	1,229		$	824
Additions charged to income		(45	)		443			1,384
Warranty usage		(133	)		(475	)		(983	)
Currency translation		(70	)		(57	)		4

Balance at December 31	$	892		$	1,140		$	1,229