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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2014
Accounting Policies [Abstract] |
Changes in the Allowance for Doubtful Accounts | The following table presents the changes in the allowance for doubtful accounts (in thousands):
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Balance at beginning of year |  | $ | 2,058 |  | $ | 858 |  | $ | 1,233 |
Provision |  |  | 178 |  |  | 908 |  |  | (153) |
Write-offs, net of recoveries |  |  | (1,189) |  |  | 292 |  |  | (222) |
Balance at end of year |  | $ | 1,047 |  | $ | 2,058 |  | $ | 858 |
Cost of Manufactured Inventory Includes Raw Material, Labor and Overhead | The cost of manufactured inventory includes raw material, labor and overhead. Inventories consist of the following (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Raw materials and components |  | $ | 63,847 |  | $ | 54,699 |
Work in progress |  |  | 23,145 |  |  | 20,749 |
Finished goods |  |  | 68,923 |  |  | 82,673 |
Aftermarket parts |  |  | 8,446 |  |  | 10,389 |
Used trailers |  |  | 12,783 |  |  | 15,663 |
|  | $ | 177,144 |  | $ | 184,173 |
Property, Plant and Equipment | Property, plant and equipment consist of the following (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Land |  | $ | 25,982 |  | $ | 26,398 |
Buildings and building improvements |  |  | 115,856 |  |  | 112,208 |
Machinery and equipment |  |  | 210,488 |  |  | 200,567 |
Construction in progress |  |  | 10,518 |  |  | 9,543 |
|  | $ | 362,844 |  | $ | 348,716 |
Less: accumulated depreciation |  |  | (219,952) |  |  | (206,634) |
|  | $ | 142,892 |  | $ | 142,082 |
Schedule of Finite-Lived Intangible Assets | As of December 31, 2014, the balances of intangible assets, other than goodwill, were as follows (in thousands):
|  | Weighted Average |  | Gross Intangible |  | Accumulated |  | Net Intangible |
|  | Amortization Period |  | Assets |  | Amortization |  | Assets |
Tradenames and trademarks |  | 20 years |  | $ | 39,222 |  | $ | (8,252) |  | $ | 30,970 |
Customer relationships |  | 10 years |  |  | 151,839 |  |  | (58,534) |  |  | 93,305 |
Technology |  | 12 years |  |  | 16,517 |  |  | (3,692) |  |  | 12,825 |
Total |  | 12 years |  | $ | 207,578 |  | $ | (70,478) |  | $ | 137,100 |
As of December 31, 2013, the balances of intangible assets, other than goodwill, were as follows (in thousands):
|  | Weighted Average |  | Gross Intangible |  | Accumulated |  | Net Intangible |
|  | Amortization Period |  | Assets |  | Amortization |  | Assets |
Tradenames and trademarks |  | 20 years |  | $ | 39,222 |  | $ | (6,291) |  | $ | 32,931 |
Customer relationships |  | 10 years |  |  | 152,109 |  |  | (40,112) |  |  | 111,997 |
Technology |  | 12 years |  |  | 16,517 |  |  | (2,264) |  |  | 14,253 |
Total |  | 12 years |  | $ | 207,848 |  | $ | (48,667) |  | $ | 159,181 |
Schedule of Goodwill | The changes in the carrying amounts of goodwill, all of which is included in the Company’s Diversified Products segment as of December 31, 2014, except for approximately $9.9 million allocated to the Company’s Retail segment, for the years ended December 31, 2014 and 2013 were as follows (in thousands):
Balance as of December 31, 2012 |  | $ | 146,444 |
Goodwill acquired |  |  | 1,784 |
Walker acquisition adjustment |  |  | 2,054 |
Effects of foreign currency |  |  | (315) |
Balance as of December 31, 2013 |  | $ | 149,967 |
Goodwill disposed |  |  | (500) |
Effects of foreign currency |  |  | 136 |
Balance as of December 31, 2014 |  | $ | 149,603 |
Major components of Other Accrued Liabilities | The following table presents the major components of Other Accrued Liabilities (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Payroll and related taxes |  | $ | 30,362 |  | $ | 29,399 |
Customer deposits |  |  | 21,680 |  |  | 30,730 |
Warranty |  |  | 15,462 |  |  | 14,719 |
Accrued taxes |  |  | 8,371 |  |  | 8,520 |
Self-insurance |  |  | 7,543 |  |  | 9,419 |
All other |  |  | 5,272 |  |  | 6,571 |
|  | $ | 88,690 |  | $ | 99,358 |
Changes in the Product Warranty Accrual Included in Other Accrued Liabilities | The following table presents the changes in the product warranty accrual included in Other Accrued Liabilities (in thousands):
|  | 2014 |  | 2013 |
Balance as of January 1 |  | $ | 14,719 |  | $ | 14,886 |
Provision for warranties issued in current year |  |  | 7,058 |  |  | 6,269 |
Recovery of pre-existing warranties |  |  | (296) |  |  | (779) |
Payments |  |  | (6,019) |  |  | (5,657) |
Balance as of December 31 |  | $ | 15,462 |  | $ | 14,719 |
Changes in the Self-Insurance Accrual Included in Other Accrued Liabilities | The following table presents the changes in the self-insurance accrual included in Other Accrued Liabilities (in thousands):
|  | Self-Insurance |
|  | Accrual |
Balance as of January 1, 2013 |  | $ | 7,711 |
Expense |  |  | 38,467 |
Payments |  |  | (36,759) |
Balance as of December 31, 2013 |  | $ | 9,419 |
Expense |  |  | 35,555 |
Payments |  |  | (37,431) |
Balance as of December 31, 2014 |  | $ | 7,543 |

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