Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Changes in the Company's allowance for doubtful accounts are as follows:



	Balance at beginning of year		Provision and reserve adjustments		Write-offs less recoveries			Reserve acquired			Balance at end of year
	(In thousands)
2012	$	298	$	138	$	(30	)	$	82	(a)	$	488
2011	$	441	$	91	$	(274	)	$	40	(b)	$	298
2010	$	291	$	227	$	(77	)	$	—		$	441

(a) The reserve increased $82,000 in 2012 related to the acquisition of Racine Federated, Inc. (“Racine Federated”). Refer to Note 3 “Acquisitions” for a description of the acquisition.

(b) The reserve increased $40,000 in 2011 related to the acquisition of Remag AG. Refer to Note 3 “Acquisitions” for a description of the acquisition.

Obsolete inventories reserve

Changes to the Company's obsolete inventories reserve are as follows:



	Balance at beginning of year		Net additions charged to earnings		Disposals			Balance at end of year
	(In thousands)
2012	$	2,680	$	1,082	$	(882	)	$	2,880
2011	$	2,775	$	328	$	(423	)	$	2,680
2010	$	2,042	$	1,345	$	(612	)	$	2,775

Intangible Assets

The carrying value and accumulated amortization by major class of intangible assets are as follows:



	December 31, 2012				December 31, 2011
	Gross carrying amount		Accumulated amortization		Gross carrying amount		Accumulated amortization
	(In thousands)
Technologies	$	43,828	$	7,609	$	31,928	$	5,150
Non-compete agreements	1,932		862		1,932		675
Licenses	650		390		650		373
Trademarks	150		150		150		145
Customer lists	3,423		483		3,423		291
Customer relationships	11,500		1,054		—		—
Trade names	8,223		807		2,523		292
Total intangibles	$	69,706	$	11,355	$	40,606	$	6,926

Warranty and after-sale costs reserve

Changes in the Company's warranty and after-sale costs reserve are as follows:



	Balance at beginning of year		Net additions charged to earnings			Costs incurred and adjustments			Reserve acquired			Balance at end of year
	(In thousands)
2012	$	1,593	$	719		$	(1,431	)	$	—		$	881
2011	$	889	$	1,592	(a)	$	(888	)	$	—		$	1,593
2010	$	907	$	552		$	(668	)	$	98	(b)	$	889


(a)	Included in the 2011 increase in the reserve was $0.6 million related to a specific product issue.


(b)	The reserve increased $98,000 in 2010 related to the acquisition of Cox Flow Measurement. Refer to Note 3 “Acquisitions” for a description of the acquisition.

Accumulated other comprehensive income (loss)

Components of accumulated other comprehensive income (loss) at December 31 are as follows:



	2012			2011
	(In thousands)
Cumulative foreign currency translation adjustment	$	1,584		$	1,190
Unrecognized pension and postretirement benefit plan liabilities, net of tax	(15,532		)	(15,756		)
Accumulated other comprehensive loss	$	(13,948	)	$	(14,566	)