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Product Warranty Reserve
 12 Months Ended
Dec. 31, 2020
Guarantees [Abstract]  
Product Warranty Reserve

Note P - Product Warranty Reserve

The Company records an accrual for estimated warranty costs to Costs of products sold in the Statements of Consolidated 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:

 

 

 

2020

 

 

2019

 

 

2018

 

Balance at January 1

 

$

1,309

 

 

$

928

 

 

$

1,076

 

Additions charged to costs and expenses

 

 

279

 

 

 

481

 

 

 

97

 

Warranty usage

 

 

(314

)

 

 

(317

)

 

 

(133

)

Currency translation

 

 

8

 

 

 

217

 

 

 

(112

)

Balance at December 31

 

$

1,282

 

 

$

1,309

 

 

$

928