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v3.19.3.a.u2

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2019
Summary of Significant Accounting Policies [Abstract] |
Estimated Useful Lives of Property, Plant and Equipment | Property, plant and equipment are recorded at historical cost and are depreciated using the straight-line method of depreciation over the estimated useful lives as follows:
| Estimated Life
Buildings | 25 to 33-1/2 years
Building improvements | 10 to 25 years
Machinery and equipment | 5 to 12 years
Tools, dies and auxiliary equipment | 3 to 8 years
Furniture and fixtures | 3 to 12 years
Impact of Adopting ASU 2016-02 on Consolidated Balance Sheet | Adoption of the new standard resulted in the following changes in our consolidated balance sheet as of January 1, 2019 (in thousand s):
|  | Balance at December 31, 2018 |  |  | Adjustments Due to Adoption of ASU 2016-02 |  |  | Balance at January 1, 2019 |
Balance Sheet |  |  |  |  |  |  |  |  |
Operating lease right-of-use asset |  | $ | — |  |  | $ | 38,580 |  |  | $ | 38,580 |
Sundry payables and accrued expenses |  |  | 31,033 |  |  |  | 7,232 |  |  |  | 38,265 |
Noncurrent operating lease liabilities |  |  | — |  |  |  | 31,348 |  |  |  | 31,348 |

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- Definition Tabular disclosure of the useful life of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References No definition available. + Details
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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
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