Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

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)
2014	$	531	$	305	$	(25	)	$	—		$	811
2013	$	488	$	78	$	(35	)	$	—		$	531
2012	$	298	$	138	$	(30	)	$	82	(a)	$	488

(a) The reserve increased $82,000 in 2012 related to the acquisition of Racine Federated, Inc. 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)
2014	$	4,236	$	974	$	(1,896	)	$	3,314
2013	$	2,880	$	2,322	$	(966	)	$	4,236
2012	$	2,680	$	1,082	$	(882	)	$	2,880

Intangible Assets

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



	December 31, 2014				December 31, 2013
	Gross carrying amount		Accumulated amortization		Gross carrying amount		Accumulated amortization
	(In thousands)
Technologies	$	47,157	$	13,244	$	47,157	$	10,384
Non-compete agreements	2,022		1,243		1,932		1,048
Licenses	650		424		650		407
Customer lists	3,423		1,053		3,423		679
Customer relationships	20,700		3,575		11,690		2,218
Trade names	9,325		2,066		8,615		1,414
Total intangibles	$	83,277	$	21,605	$	73,467	$	16,150

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)
2014	$	882	$	2,512	$	(1,655	)	$	—		$	1,739
2013	$	881	$	1,005	$	(1,068	)	$	64	(a)	$	882
2012	$	1,593	$	719	$	(1,431	)	$	—		$	881


(a)	The reserve increased $64,000 in 2013 related to the acquisition of Aquacue, Inc. Refer to Note 3 “Acquisitions” for a description of the acquisition.

Accumulated other comprehensive income (loss)

Components of accumulated other comprehensive loss at December 31, 2014 are as follows:



	Pension and postretirement benefits			Foreign currency			Total
				(In thousands)
Balance at beginning of period	$	(9,280	)	$	1,756		$	(7,524	)
Other comprehensive income before reclassifications	(4,968		)	(1,721		)	(6,689		)
Amounts reclassified from accumulated other comprehensive loss, net of tax of $(1.2) million	2,357			—			2,357
Net current period other comprehensive income, net	(2,611		)	(1,721		)	(4,332		)
Accumulated other comprehensive (loss) income	$	(11,891	)	$	35		$	(11,856	)

Details of reclassifications out of accumulated other comprehensive loss during 2014 are as follows:



	Amount reclassified from accumulated other comprehensive loss
	(In thousands)
Amortization of employee benefit plan items:
Prior service cost (1)	$	161
Settlement expense (1)	858
Amortization of actuarial loss (1)	2,547
Total before tax	3,566
Income tax benefit	(1,209		)
Amount reclassified out of accumulated other comprehensive loss	$	2,357


(1)	These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.”

Components of accumulated other comprehensive loss at December 31, 2013 are as follows:



	Pension and postretirement benefits			Foreign currency		Total
	(In thousands)
Balance at beginning of period	$	(15,532	)	$	1,584	$	(13,948	)
Other comprehensive income before reclassifications	5,116			172		5,288
Amounts reclassified from accumulated other comprehensive loss, net of tax of $(0.6) million	1,136			—		1,136
Net current period other comprehensive income, net	6,252			172		6,424
Accumulated other comprehensive (loss) income	$	(9,280	)	$	1,756	$	(7,524	)

Details of reclassifications out of accumulated other comprehensive loss during 2013 are as follows:



	Amount reclassified from accumulated other comprehensive loss
	(In thousands)
Amortization of employee benefit plan items:
Prior service cost (1)	$	161
Settlement expense (1)	806
Amortization of actuarial loss (1)	786
Total before tax	1,753
Income tax benefit	(617		)
Amount reclassified out of accumulated other comprehensive loss	$	1,136


(1)	These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.”