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Product Warranty Reserve | 6 Months Ended
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Jun. 30, 2021
Guarantees [Abstract] |
Product Warranty Reserve | NOTE O – 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 on the Company’s 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 |
|  | 2021 |  |  | 2020 |
Beginning of period balance |  | $ | 1,282 |  |  | $ | 1,309 |
Additions charged to income |  |  | 1,325 |  |  |  | 48 |
Warranty usage |  |  | (244 | ) |  |  | (28 | )
Currency translation |  |  | 0 |  |  |  | (87 | )
End of period balance |  | $ | 2,363 |  |  | $ | 1,242 |

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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