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Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Valuation and Qualifying Accounts

PREFORMED LINE PRODUCTS COMPANY

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

Year Ended December 31, 2022, 2021 and 2020

(Thousands of dollars)

 

For the year ended December 31, 2022:

 

Balance at beginning of
period

 

 

Additions
charged to
costs and
expenses

 

 

Deductions

 

 

Other
additions or deductions

 

 

Balance at
end of
period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

3,091

 

 

$

2,108

 

 

$

(122

)

 

$

(56

)

 

$

5,021

 

Reserve for credit memos

 

 

653

 

 

 

92

 

 

 

(161

)

 

 

(5

)

 

 

579

 

Slow-moving and obsolete inventory reserves

 

 

10,636

 

 

 

4,001

 

 

 

(3,813

)

 

 

11

 

 

 

10,835

 

Accrued product warranty

 

 

1,635

 

 

 

372

 

 

 

(931

)

 

 

35

 

 

 

1,111

 

Foreign net operating loss tax carryforwards

 

 

3,550

 

 

 

1,812

 

 

 

(2,169

)

 

 

(471

)

 

 

2,722

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2021:

 

Balance at beginning of
period

 

 

Additions
charged to
costs and
expenses

 

 

Deductions

 

 

Other
additions or deductions (a)

 

 

Balance at
end of
period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

2,848

 

 

$

931

 

 

$

(435

)

 

$

(253

)

 

$

3,091

 

Reserve for credit memos

 

 

616

 

 

 

1,964

 

 

 

(1,918

)

 

 

(9

)

 

 

653

 

Slow-moving and obsolete inventory reserves

 

 

9,900

 

 

 

3,052

 

 

 

(2,488

)

 

 

172

 

 

 

10,636

 

Accrued product warranty

 

 

1,282

 

 

 

934

 

 

 

(553

)

 

 

(28

)

 

 

1,635

 

Foreign net operating loss tax carryforwards

 

 

2,912

 

 

 

1,935

 

 

 

(1,297

)

 

 

—

 

 

 

3,550

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2020:

 

Balance at beginning of
period

 

 

Additions
charged to
costs and
expenses

 

 

Deductions

 

 

Other
additions or deductions (a)

 

 

Balance at
end of
period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

3,224

 

 

$

1,279

 

 

$

(1,527

)

 

$

(128

)

 

$

2,848

 

Reserve for credit memos

 

 

625

 

 

 

774

 

 

 

(792

)

 

 

9

 

 

 

616

 

Slow-moving and obsolete inventory reserves

 

 

8,877

 

 

 

2,035

 

 

 

(1,097

)

 

 

85

 

 

 

9,900

 

Accrued product warranty

 

 

1,309

 

 

 

279

 

 

 

(314

)

 

 

8

 

 

 

1,282

 

Foreign net operating loss tax carryforwards

 

 

3,137

 

 

 

1,176

 

 

 

(1,473

)

 

 

72

 

 

 

2,912