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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Estimated Useful Lives of Property, Plant and Equipment

Estimated useful lives are as follows:

Buildings	25-33 Years
Tooling and equipment	2-7 Years
Computer equipment	3-5 Years
Software	3-7 Years
Furniture and fixtures	5-8 Years
Leasehold and building improvements	Lesser of lease term or useful life (approximately 2 to 10 years)

Construction in progress was as follows:

	December 31,
(In thousands)	2018				2017
Buildings	$	275			$	—
Machinery and equipment	2,444				3,884
Tooling	1,581				3,697
Leasehold and building improvements	675				1,014
Software	352				5,714
Other	229				188
Total construction in progress	$	5,556			$	14,497

Property, plant, and equipment, net were as follows:

	December 31,
(In thousands)	2018				2017
Buildings	$	18,799			$	20,806
Machinery and equipment	87,700				82,188
Tooling	29,575				33,622
Leasehold and building improvements	34,486				31,158
Software	25,406				18,240
Furniture and fixtures	2,572				5,620
Computer equipment	8,551				7,154
	207,089				198,788
Accumulated depreciation	(116,805		)		(102,323		)
	90,284				96,465
Construction in progress	5,556				14,497
Total property, plant, and equipment, net	$	95,840			$	110,962

Adjustments Made to the Consolidated Balance Sheets and Impacts of New Revenue Guidance on Financial Statements

The cumulative effects of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09, were as follows:

	As reported				Adjustments due to  ASU 2014-09				Balance at
Consolidated Balance Sheet (In thousands)	12/31/2017								1/1/2018
Contract assets	$	—			$	29,759			$	29,759
Inventories, net	162,589				(23,830		)		138,759
Prepaid expenses and other current assets	11,687				(174		)		11,513
Deferred income tax assets	7,913				2,572				10,485
Accounts payable and other current liabilities	332,935				4,100				337,035
Deferred income tax liabilities	4,423				122				4,545
Retained earnings	266,780				4,084				270,864

The following tables compare the reported consolidated balance sheet and statements of operations as of and for the twelve months ended December 31, 2018, to pro forma amounts had the previous guidance been in effect. The guidance did not have a significant impact on the Company's consolidated statement of cash flows.

	As of December 31, 2018
Consolidated Balance Sheet (In thousands)	As reported				Without Adoption of ASU 2014-09				Effect of Change
Assets
Contract assets	$	25,572			$	—			$	25,572
Inventories, net	144,350				164,974				(20,624		)
Prepaid expenses and other current assets	11,638				11,610				28
Deferred income taxes	1,833				1,889				(56		)
Liabilities and Equity
Accounts payable and other current liabilities	$	279,856			$	278,106			$	1,750
Accumulated other comprehensive income (loss)	(20,281		)		(19,750		)		(531		)
Retained earnings	282,788				279,087				3,701

	Twelve months ended December 31, 2018
Consolidated Statement of Operations (In thousands)	As reported				Without Adoption of ASU 2014-09				Effect of Change
Net sales	$	680,241			$	684,043			$	(3,802	)
Cost of sales	538,437				541,731				(3,294		)
Selling, general and administrative expenses	119,654				119,646				8
Provision for income taxes	14,242				14,375				(133		)
Net income	11,924				12,307				(383		)
Earnings per share:
Basic	$	0.85			$	0.88			$	(0.03	)
Diluted	$	0.85			$	0.88			$	(0.03	)

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