Summary of Significant Accounting Policies and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2013

Reconciliation of Changes in Accrued Warranty Costs

The Company recognizes an estimated cost associated with warranty claims on its products at the time of sale. The amount recognized is based on estimates of future failure rates and current claim cost experience. The following is a reconciliation of the changes in accrued warranty costs for the reporting period:

	December 31,
	2013			2012
Balance at beginning of year	$	8,588		$	8,487
Warranty claims paid or retired		(676	)		(347	)
Expense		2,118			215
Adjustment due to currency translation		278			233
Balance at end of year	$	10,308		$	8,588

Reconciliation of Changes in Inventory Reserve

The Company’s inventory is valued at the lower of cost (the first-in, first-out basis) or market. Raw materials, consumables and commodities are measured at cost of purchase and unfinished and finished goods are measured at cost of production, using the weighted average method. If the net realizable value expected on the reporting date is below cost, a write-down is recorded to adjust inventory to its net realizable value. The Company provides a reserve for obsolete and slow moving inventories based upon estimates of future sales and product redesign. The following is a reconciliation of the changes in the inventory reserve (in thousands):

	December 31,
	2013			2012
Balance at beginning of year	$	2,185		$	1,127
Expense		779			1,307
Inventory write off		(6	)		(215	)
Adjustment due to currency translation		(25	)		(34	)
Balance at end of year	$	2,933		$	2,185

Estimated Useful Lives of Property and Equipment

Depreciation and amortization are computed using the straight-line method. The estimated useful lives of the Company’s property and equipment are as follows:

Asset Category	Useful Life
Buildings	5 to 50 years
Plant and Equipment	2 to 20 years
Furniture, fixtures and fittings	1 to 20 years
Production tooling	Estimated life of tool (2 to 5 years)
Leasehold improvements	Shorter of estimated life or term of lease
Computer equipment and software	1 to 10 years
Capital Leases	Shorter of useful life or term of lease

Roll Forward of Goodwill from Acquisition

Goodwill and other intangible assets recorded in conjunction with the acquisition of W.E.T. were based on the Company’s estimate of fair value, as of the date of acquisition. A roll forward of goodwill from December 31, 2011 to December 31, 2013 is as follows:

December 31, 2011	$	24,245
Exchange rate impact		484
December 31, 2012	$	24,729
Exchange rate impact		1,080
December 31, 2013	$	25,809

Fair Value and Corresponding Useful Lives for Acquired Intangibles Assets

The fair value and corresponding useful lives for acquired intangible assets are listed below as follows:

Asset Category	Useful Life
Customer relationships	10-15 years
Order Backlog	0.5 years
Technology	8-9 years
Production Development Costs	4 years

Estimate of Total Intangible Asset Amortization

An estimate of total intangible asset amortization by year, including the aforementioned Johnson Control patents and those obtained through the acquisition of W.E.T., is as follows:

2014	$	15,725
2015		14,178
2016		13,011
2017		11,742
2018		9,928
Thereafter		18,681