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Product Warranty Reserve
12 Months Ended
Dec. 31, 2019
Guarantees [Abstract]  
Product Warranty Reserve

Note P - Product Warranty Reserve

The Company records an accrual for estimated warranty costs to Costs of products sold in the Statements of Consolidated Income.  These amounts are recorded in Accrued expenses and other liabilities in the Consolidated Balance Sheets.  The Company records and accounts for its warranty reserve based on specific claim incidents.  Should the Company become aware of a specific potential warranty claim for which liability is probable and reasonably estimable, a specific charge is recorded and accounted for accordingly.  Adjustments are made quarterly to the accruals as claim information changes.

The following is a rollforward of the product warranty reserve:

 

 

 

2019

 

 

2018

 

 

2017

 

Balance at January 1

 

$

928

 

 

$

1,076

 

 

$

1,058

 

Additions charged to costs and expenses

 

 

481

 

 

 

97

 

 

 

347

 

Warranty usage

 

 

(317

)

 

 

(133

)

 

 

(399

)

Currency translation

 

 

217

 

 

 

(112

)

 

 

70

 

Balance at December 31

 

$

1,309

 

 

$

928

 

 

$

1,076