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Risks and Contingencies
12 Months Ended
Dec. 31, 2021
Risks and Contingencies [Abstract]  
Risks and Contingencies

Note 17 - Risks and Contingencies

 

The Company is involved in various warranty and repair claims and, in certain cases, related pending and threatened legal proceedings with its customers in the normal course of business. In the opinion of management, the Company’s potential losses in excess of the accrued warranty and legal provisions, if any, are not expected to be material to the Company’s consolidated financial condition, results of operations or cash flows.

 

As part of a settlement agreement reached with one of its customers during 2019, the Company agreed to pay $7,500 to settle all claims related to a prior year’s commercial dispute. During the years ended December 31, 2021 and 2020, the Company paid $2,000 and $1,000, respectively, of the settlement amount and the remaining $1,000 will be paid during the first quarter of 2022.

 

In addition to the foregoing, the Company is involved in certain other pending and threatened legal proceedings, including commercial disputes and workers’ compensation and employee matters arising out of the conduct of its business. The Company has reserved $756 to cover probable and estimable liabilities with respect to these matters.