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Background and Basis of Presentation (Tables)
3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
Summary of Activity in Product Warranty Accrual, Included in Other Accrued Liabilities

The following table summarizes the activity in the product warranty accrual, included in other accrued liabilities:

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2017

 

 

2016

 

Product warranty accrual, beginning of period

 

$

21,631

 

 

$

17,964

 

Provision for warranty claims

 

 

2,202

 

 

 

2,051

 

Warranty claims paid

 

 

(3,618

)

 

 

(2,104

)

Foreign exchange

 

 

(35

)

 

 

(222

)

Product warranty accrual, end of period

 

$

20,180

 

 

$

17,689

 

 

Summary of Earnings, Weighted Average Common Shares and Potential Common Shares Outstanding

The following table presents the basis for the earnings per share computations (in thousands, except per share data):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

Net income for basic and diluted earnings per share

 

$

33,562

 

 

$

12,580

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding - basic

 

 

194,068

 

 

 

191,642

 

Dilutive effect of equity-based awards

 

 

5,072

 

 

 

3,814

 

Weighted average common shares outstanding - diluted

 

 

199,140

 

 

 

195,456

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

Basic

 

$

0.17

 

 

$

0.07

 

Diluted

 

$

0.17

 

 

$

0.06