Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:



(Number of shares and dollar amounts in thousands except per share amounts)
	2019		2018		2017
Numerator
Numerator for basic and diluted earnings per share - income from continuing operations available to common stockholders	$	96,404	$	76,586	$	95,400
Denominator
Denominator for basic earnings per share - weighted average shares outstanding	50,159		50,350		52,206
Effect of dilutive securities - stock options and other stock units	219		247		467
Denominator for diluted earnings per share - adjusted weighted average shares outstanding	50,378		50,597		52,673
Earnings per share:
Basic	$	1.92	$	1.52	$	1.83
Diluted	$	1.91	$	1.51	$	1.81

Summary of Activity in Product Warranty Liabilities

Warranties – Warranties are provided on the sale of certain of the Company’s products and an accrual for estimated future claims is recorded at the time revenue is recognized. Tire replacement under most of the warranties the Company offers is on a prorated basis. The Company provides for the estimated cost of product warranties based primarily on historical return rates, estimates of the eligible tire population and the value of tires to be replaced. The following table summarizes the activity in the Company’s product warranty liabilities, which are recorded in Accrued liabilities and Other long-term liabilities on the Company’s Condensed Consolidated Balance Sheets:



	2019		2018		2017
Reserve at beginning of year	12,431		12,093		10,634
Additions	11,609		13,187		10,310
Payments	(11,306	)	(12,849	)	(8,851	)
Reserve at December 31	12,734		12,431		12,093