XML 41 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Product Warranty Costs (Tables)
6 Months Ended
Jun. 28, 2014
Standard Product Warranty Disclosure [Abstract]  
Reconciliation of product warranty reserve
Changes in the warranty reserve are as follows (in thousands):
 
Quarters Ended
 
Six Months Ended
 
June 28,
2014
 
June 29,
2013
 
June 28,
2014
 
June 29,
2013
Balance at the beginning of the period
$
92,638

 
$
97,011

 
$
93,207

 
$
97,471

Provision for warranties issued and changes in estimates for
pre-existing warranties
1,547

 
1,851

 
2,826

 
3,370

Claims paid
(1,728
)
 
(2,033
)
 
(3,188
)
 
(3,758
)
Foreign currency translation
434

 
(444
)
 
46

 
(698
)
Balance at the end of the period
$
92,891

 
$
96,385

 
$
92,891

 
$
96,385

On February 13, 2013, the Company entered into a Settlement Agreement and Release of Claims (the “Settlement”) for a class action lawsuit filed by plaintiffs and a putative nationwide class of homeowners regarding certain warranty-related claims for steel and aluminum siding, which became effective on September 2, 2013. The Company expects to incur additional warranty costs associated with the Settlement; however, the Company does not believe the incremental costs, which currently cannot be estimated for recognition purposes, have been or will be material.