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OTHER ACCRUED LIABILITIES
 6 Months Ended
Jun. 30, 2012
OTHER ACCRUED LIABILITIES
10. OTHER ACCRUED LIABILITIES

 

The following table presents major components of Other Accrued Liabilities (in thousands):

 

    June 30,     December 31,  
    2012     2011  
Warranty   $ 15,570     $ 11,437  
Employee compensation and benefits     25,773       19,627  
Accrued taxes     7,271       6,239  
Customer deposits     21,528       16,282  
All other     12,145       5,439  
    $ 82,287     $ 59,024  

 

The following table presents the changes in the product warranty accrual included in Other Accrued Liabilities (in thousands):

 

    2012     2011  
Balance as of January 1   $ 11,437     $ 11,936  
Provision for warranties issued in current year     2,168       1,545  
Walker acquisition     3,887       -  
Payments     (1,922 )     (1,136 )
Balance as of June 30   $ 15,570     $ 12,345  

 

The Company offers a limited warranty for its products with a coverage period that ranges between one and five years, provided that the coverage period for DuraPlate® trailer panels beginning with those manufactured in 2005 or after is ten years. The Company passes through component manufacturers’ warranties to our customers. The Company’s policy is to accrue the estimated cost of warranty coverage at the time of the sale.