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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of Changes in Allowance for Doubtful Accounts 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

 

 

Balance at end

of year

 

 

 

(In thousands)

 

2020

 

$

224

 

 

$

356

 

 

$

(28

)

 

$

552

 

2019

 

$

360

 

 

$

(132

)

 

$

(4

)

 

$

224

 

2018

 

$

387

 

 

$

 

 

$

(27

)

 

$

360

 

 

 

Schedule of Changes to Obsolete and Excess Inventories Reserve Changes to the Company's obsolete and excess inventories reserve are as follows:

 

 

 

Balance at

beginning

of year

 

 

Net additions

charged to

earnings

 

 

Disposals

 

 

Balance at end

of year

 

 

 

(In thousands)

 

2020

 

$

5,440

 

 

$

2,964

 

 

$

(2,004

)

 

$

6,400

 

2019

 

$

4,131

 

 

$

2,663

 

 

$

(1,354

)

 

$

5,440

 

2018

 

$

3,881

 

 

$

2,195

 

 

$

(1,945

)

 

$

4,131

 

 

Schedule of Carrying Value and Accumulated Amortization of Intangible Assets The carrying value and accumulated amortization by major class of intangible assets are as follows:

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

Gross carrying

amount

 

 

Accumulated

amortization

 

 

Gross carrying

amount

 

 

Accumulated

amortization

 

 

 

(In thousands)

 

Technologies

 

$

52,536

 

 

$

30,598

 

 

$

47,608

 

 

$

27,650

 

Intellectual property

 

 

10,000

 

 

 

1,833

 

 

 

10,000

 

 

 

1,333

 

Non-compete agreements

 

 

931

 

 

 

413

 

 

 

572

 

 

 

431

 

Licenses

 

 

650

 

 

 

526

 

 

 

650

 

 

 

509

 

Customer lists

 

 

8,023

 

 

 

3,846

 

 

 

8,023

 

 

 

3,234

 

Customer relationships

 

 

28,630

 

 

 

16,146

 

 

 

25,220

 

 

 

14,730

 

Trade names

 

 

12,136

 

 

 

5,946

 

 

 

9,203

 

 

 

5,226

 

Total intangibles

 

$

112,906

 

 

$

59,308

 

 

$

101,276

 

 

$

53,113

 

 

 

Schedule of Changes in 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

 

 

Provision of acquired business

 

 

Net additions

charged to

earnings

 

 

Costs incurred

 

 

Balance at end

of year

 

 

 

(In thousands)

 

2020

 

$

5,583

 

 

$

500

 

 

$

7,855

 

 

$

(2,321

)

 

$

11,617

 

2019

 

$

4,206

 

 

$

 

 

$

6,616

 

 

$

(5,239

)

 

$

5,583

 

2018

 

$

3,367

 

 

$

 

 

$

3,274

 

 

$

(2,435

)

 

$

4,206

 

 

Schedule of Accumulated Other Comprehensive Income (Loss)

Components of accumulated other comprehensive income at December 31, 2020 are as follows:

 

 

 

Pension and

postretirement

benefits

 

 

Foreign currency

 

 

Total

 

 

 

(In thousands)

 

Balance at beginning of period

 

$

263

 

 

$

162

 

 

$

425

 

Other comprehensive income before reclassifications

 

 

 

 

 

1,096

 

 

 

1,096

 

Amounts reclassified from accumulated other comprehensive income

   (loss), net of tax of $69

 

 

(208

)

 

 

 

 

 

(208

)

Net current period other comprehensive (loss) income, net

 

 

(208

)

 

 

1,096

 

 

 

888

 

Accumulated other comprehensive income

 

$

55

 

 

$

1,258

 

 

$

1,313

 

 

Reclassifications out of accumulated other comprehensive income during 2020 are immaterial.

    

    

Components of accumulated other comprehensive income at December 31, 2019 are as follows:

 

 

 

 

Pension and

postretirement

benefits

 

 

Foreign currency

 

 

Total

 

 

 

(In thousands)

 

Balance at beginning of period

 

$

360

 

 

$

220

 

 

$

580

 

Other comprehensive income (loss) before reclassifications

 

 

 

 

 

(58

)

 

 

(58

)

Amounts reclassified from accumulated other comprehensive income,

   net of tax of $16

 

 

(97

)

 

 

 

 

 

(97

)

Net current period other comprehensive income (loss), net

 

 

(97

)

 

 

(58

)

 

 

(155

)

Accumulated other comprehensive income

 

$

263

 

 

$

162

 

 

$

425

 

 

Reclassifications out of accumulated other comprehensive income during 2019 are as follows:

 

 

 

Amount

reclassified from

accumulated

other

comprehensive

income

 

 

 

(In thousands)

 

Amortization of employee benefit plan items:

 

 

 

 

Actuarial gains and losses (1)

 

$

(639

)

Plan settlement (2)

 

 

526

 

Total before tax

 

 

(113

)

Income tax impact

 

 

16

 

Amount reclassified out of accumulated other comprehensive income

 

$

(97

)

 

(1)These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.”                                                                                                                                                  (2)   This accumulated other comprehensive income component results from an international pension plan settlement.