Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Components of property, plant and equipment

Ranges of estimated useful lives for computing depreciation are as follows:



Land improvements		20 years
Buildings and improvements		20 - 40 years
Machinery and equipment		3 - 15 years
Tools, dies and patterns		3 - 5 years

Property, plant, and equipment consisted of the following at December 31:



	2012			2011
Land and land improvements	$	5,098,000		$	5,098,000
Buildings	36,556,000			36,535,000
Machinery and equipment	56,831,000			44,683,000
Tools, dies, and patterns	808,000			808,000
Additions in progress	454,000			6,112,000
Total	99,747,000			93,236,000
Less accumulated depreciation	(48,189,000		)	(43,892,000		)
Property, plant, and equipment - net	$	51,558,000		$	49,344,000

Components of acuumlated other comprehensive income

Accumulated other comprehensive income is comprised of the following, net of tax:



	December, 31
	2012			2011
Interest rate swaps	$	(54,000	)	$	(109,000	)
Post retirement benefits	3,241,000			3,986,000
Total	$	3,187,000		$	3,877,000

- Definition

Tabular disclosure of the useful life and salvage value 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.

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