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Nature of Business (Tables)
12 Months Ended
Dec. 31, 2021
Summary of Warranty Expense and Write-Off Activity

A summary of warranty expense and write-off activity for the years ended December 31, 2021, 2020 and 2019 is as follows:

 

 

 

Year Ended December 31,

 

(In thousands)

 

2021

 

 

2020

 

 

2019

 

Balance at beginning of period

 

$

7,146

 

 

$

8,394

 

 

$

8,623

 

Plus: Amounts charged to cost and expenses

 

 

855

 

 

 

1,538

 

 

 

4,569

 

Less: Deductions

 

 

(2,598

)

 

 

(2,786

)

 

 

(4,798

)

Balance at end of period

 

$

5,403

 

 

$

7,146

 

 

$

8,394

 

Changes in Accumulated Other Comprehensive (Loss) Income, Net of Tax by Components of Accumulated Other Comprehensive (Loss) Income

The following table presents changes in accumulated other comprehensive (loss) income, net of tax, by components of accumulated other comprehensive (loss) income for the years ended December 31, 2021, 2020 and 2019:

 

(In thousands)

 

Unrealized
Gains (Losses)
on Available-
for-Sale
Securities

 

 

Defined
Benefit Plan
Adjustments

 

 

Foreign
Currency
Adjustments

 

 

ASU 2018-02 Adoption (1)

 

 

Total

 

Balance as of December 31, 2018

 

$

(563

)

 

$

(8,041

)

 

$

(5,812

)

 

$

 

 

$

(14,416

)

Other comprehensive (loss) income before
   reclassifications

 

 

573

 

 

 

(1,717

)

 

 

(1,480

)

 

 

 

 

 

(2,624

)

Amounts reclassified to retained earnings

 

 

 

 

 

 

 

 

 

 

 

385

 

 

 

385

 

Amounts reclassified from accumulated other
   comprehensive (loss) income

 

 

(294

)

 

 

532

 

 

 

 

 

 

 

 

 

238

 

Balance as of December 31, 2019

 

 

(284

)

 

 

(9,226

)

 

 

(7,292

)

 

 

385

 

 

 

(16,417

)

Other comprehensive (loss) income before
   reclassifications

 

 

749

 

 

 

(1,231

)

 

 

4,857

 

 

 

 

 

 

4,375

 

Amounts reclassified from accumulated other
   comprehensive (loss) income

 

 

(433

)

 

 

836

 

 

 

 

 

 

 

 

 

403

 

Balance as of December 31, 2020

 

 

32

 

 

 

(9,621

)

 

 

(2,435

)

 

 

385

 

 

 

(11,639

)

Other comprehensive (loss) income before
   reclassifications

 

 

(705

)

 

 

3,439

 

 

 

(3,699

)

 

 

 

 

 

(965

)

Amounts reclassified from accumulated other
   comprehensive (loss) income

 

 

121

 

 

 

569

 

 

 

 

 

 

 

 

 

690

 

Balance as of December 31, 2021

 

$

(552

)

 

$

(5,613

)

 

$

(6,134

)

 

$

385

 

 

$

(11,914

)

 

(1)
With the adoption of ASU 2018-02 on January 1, 2019, stranded tax effects related to the Tax Cuts and Jobs Act of 2017 were reclassified to retained earnings.
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

The following tables present the details of reclassifications out of accumulated other comprehensive (loss) income for the years ended December 31, 2021, 2020 and 2019:

 

(In thousands)

 

For the year ended December 31,

 

 

 

Details about Accumulated Other Comprehensive (Loss)
Income Components

 

2021

 

 

2020

 

 

2019

 

 

Affected Line Item in the
Statement Where Net (Loss) Income Is Presented

Unrealized (loss) gains on available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

Net realized (loss) gain on sales of securities

 

$

(164

)

 

$

585

 

 

$

397

 

 

Net investment gain

Defined benefit plan adjustments – actuarial losses

 

 

(825

)

 

 

(1,212

)

 

 

(771

)

 

(1)

Total reclassifications for the period, before tax

 

 

(989

)

 

 

(627

)

 

 

(374

)

 

 

Tax benefit

 

 

299

 

 

 

224

 

 

 

136

 

 

 

Total reclassifications for the period, net of tax

 

$

(690

)

 

$

(403

)

 

$

(238

)

 

 

 

(1)
Included in the computation of net periodic pension cost. See Note 15 for additional information.
Tax Effects Related to the Change in Each Component of Other Comprehensive (Loss) Income

The following tables present the tax effects related to the change in each component of other comprehensive (loss) income for the years ended December 31, 2021, 2020 and 2019:

 

 

 

2021

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

(953

)

 

$

248

 

 

$

(705

)

Reclassification adjustment for amounts related to available-for-sale investments included in net income (loss)

 

 

164

 

 

 

(43

)

 

 

121

 

Defined benefit plan adjustments

 

 

4,984

 

 

 

(1,545

)

 

 

3,439

 

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income (loss)

 

 

825

 

 

 

(256

)

 

 

569

 

Foreign currency translation adjustment

 

 

(3,699

)

 

 

 

 

 

(3,699

)

Total Other Comprehensive (Loss) Income

 

$

1,321

 

 

$

(1,596

)

 

$

(275

)

 

 

 

2020

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

1,012

 

 

$

(263

)

 

$

749

 

Reclassification adjustment for amounts related to available-for-sale investments included in net (loss) income

 

 

(585

)

 

 

152

 

 

 

(433

)

Defined benefit plan adjustments

 

 

(1,784

)

 

 

553

 

 

 

(1,231

)

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net (loss) income

 

 

1,212

 

 

 

(376

)

 

 

836

 

Foreign currency translation adjustment

 

 

4,857

 

 

 

 

 

 

4,857

 

Total Other Comprehensive (Loss) Income

 

$

4,712

 

 

$

66

 

 

$

4,778

 

 

 

 

2019

 

(In thousands)

 

Before-Tax
Amount

 

 

Tax
(Expense)
Benefit

 

 

Net-of-Tax
Amount

 

Unrealized gains (losses) on available-for-sale securities

 

$

774

 

 

$

(201

)

 

$

573

 

Reclassification adjustment for amounts related to available-for-sale investments included in net loss

 

 

(397

)

 

 

103

 

 

 

(294

)

Defined benefit plan adjustments

 

 

(2,488

)

 

 

771

 

 

 

(1,717

)

Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income (loss)

 

 

771

 

 

 

(239

)

 

 

532

 

Foreign currency translation adjustment

 

 

(1,480

)

 

 

 

 

 

(1,480

)

Total Other Comprehensive (Loss) Income

 

$

(2,820

)

 

$

434

 

 

$

(2,386

)