-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vw2ay4kG5a74gipwLAXw+1mKblAdCmI63+4OFJDn/64KtVR+dG98Yxk/47aA5qxJ 8Dp0h4jZGfnNCQVE5WQEWg== 0000882835-09-000031.txt : 20090817 0000882835-09-000031.hdr.sgml : 20090817 20090817093004 ACCESSION NUMBER: 0000882835-09-000031 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090817 DATE AS OF CHANGE: 20090817 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROPER INDUSTRIES INC CENTRAL INDEX KEY: 0000882835 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 510263969 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-12273 FILM NUMBER: 091018028 BUSINESS ADDRESS: STREET 1: 6901 PROFESSIONAL PKWY EAST STREET 2: SUITE 200 CITY: SARASOTA STATE: FL ZIP: 34240 BUSINESS PHONE: 9415562601 MAIL ADDRESS: STREET 1: 6901 PROFESSIONAL PKWY EAST STREET 2: SUITE 200 CITY: SARASOTA STATE: FL ZIP: 34240 FORMER COMPANY: FORMER CONFORMED NAME: ROPER INDUSTRIES INC /DE/ DATE OF NAME CHANGE: 19930328 10-Q/A 1 q209-10qa.htm 10Q WITH XBRL q209-10qa.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 10-Q/A
Amendment No. 1


 
[X]
QUARTERLY  REPORT PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES  EXCHANGE  ACT  OF  1934
 
For the quarterly period ended June 30, 2009.

 
[  ]
TRANSITION REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES  EXCHANGE  ACT  OF  1934
 
For the transition period from                          to                        .

Commission File Number   1-12273


ROPER INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)
51-0263969
(I.R.S. Employer Identification No.)
6901 Professional Pkwy. East, Suite 200
Sarasota, Florida
(Address of principal executive offices)
 
34240
(Zip Code)
(941) 556-2601
(Registrant’s telephone number, including area code)
    
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  þ Yes ¨  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  þ Yes ¨  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

þ Large accelerated filer
¨ Accelerated filer
¨ Non-accelerated filer
     (do not check if smaller reporting company)
¨ Smaller reporting company

Indicate by check mark if the registrant is a shell company (as defined in Rule 12-b2 of the Act). ¨ Yes þ No

The number of shares outstanding of the Registrant’s common stock as of July 29, 2009 was approximately 90,824,287.

 
 
 
 

Explanatory Note
 
The purpose of this amendment on Form 10-Q/A to our quarterly report on Form 10-Q for the period ended June 30, 2009 ("Form 10-Q"), as filed with the Security and Exchange Commission on August 4, 2009, is to furnish Exhibit 101 to the Form 10-Q as required by Rule 405 of Regulation S-T.   Exhibit 101 to this report provides the following items from our Form 10-Q formatted in Extensible Business Reporting Language (XBRL): (i) the unaudited Consolidated Statement of Operations, (ii) the unaudited Consolidated Balance Sheet, (iii) the unaudited Consolidated Statement of Cash Flows, and (iv) the unaudited Notes to Financial Statements, tagged as blocks of text.
 
This Form 10-Q/A does not reflect subsequent events occurring after the original filing date of the Form 10-Q or modify or update in any way disclosures made in the Form 10-Q.
 
Pursuant to Rule 406T of Regulation S-T these interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Section 18 of the Security Exchange Act of 1934, and otherwise are not subject to liability under these sections.
 


Item 6.        Exhibits

 
3.1
 
Roper Industries, Inc., By-Laws, Amended and Restated as of February 12, 2009, incorporated herein by reference to Exhibit 3.1 to the Roper Industries, Inc. Current Report on Form 8-K filed February 19, 2009.
     
31.1
 
Rule 13a-14(a)/15d-14(a), Certification of the Chief Executive Officer, filed with the Roper Industries, Inc. Quarterly Report on Form 10-Q on August 4, 2009.
     
31.2
 
Rule 13a-14(a)/15d-14(a), Certification of the Chief Financial Officer, filed with the Roper Industries, Inc. Quarterly Report on Form 10-Q on August 4, 2009.
     
32.1
 
Section 1350 Certification of the Chief Executive and Chief Financial Officers, filed with the Roper Industries, Inc. Quarterly Report on Form 10-Q on August 4, 2009.
     
101.INS    XBRL Instance Document, furnished herewith.
     
101.SCH    XBRL Taxonomy Extension Schema Document, furnished herewith.
     
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document, furnished herewith.
     
 101.DEF   XBRL Taxonomy Extension Definition Linkbase Document, furnished herewith.
     
101.LAB   XBRL Taxonomy Extension Label Linkbase Document, furnished herewith.
     
101.PRE    XBRL Taxonomy Extension Presentation Linkbase Document, furnished herewith.


 
 
 
 
 

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Roper Industries, Inc.

 

/s/ Brian D. Jellison
 
Chairman of the Board, President,
August 17, 2009
Brian D. Jellison
 
and Chief Executive Officer
 
   
(Principal Executive Officer)
 


/s/ John Humphrey
 
Chief Financial Officer and Vice President
August 17, 2009
John Humphrey
 
(Principal Financial Officer)
 


/s/ Paul J. Soni
 
Vice President and Controller
August 17, 2009
Paul J. Soni
 
(Principal Accounting Officer)
 
 
 
EX-100.INS 2 rop-20090630.xml 0000882835 2009-06-30 0000882835 2008-06-30 0000882835 2008-01-01 2008-06-30 0000882835 2008-12-31 0000882835 us-gaap:CommonStockMember 2008-12-31 0000882835 us-gaap:AdditionalPaidInCapitalMember 2008-12-31 0000882835 us-gaap:RetainedEarningsMember 2008-12-31 0000882835 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2008-12-31 0000882835 us-gaap:TreasuryStockMember 2008-12-31 0000882835 2009-01-01 2009-06-30 0000882835 us-gaap:CommonStockMember 2009-01-01 2009-06-30 0000882835 us-gaap:AdditionalPaidInCapitalMember 2009-01-01 2009-06-30 0000882835 us-gaap:RetainedEarningsMember 2009-01-01 2009-06-30 0000882835 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-01-01 2009-06-30 0000882835 us-gaap:TreasuryStockMember 2009-01-01 2009-06-30 0000882835 2007-12-31 0000882835 2009-04-01 2009-06-30 Unaudited 0000882835 2008-04-01 2008-06-30 iso4217:USD xbrli:shares No <div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div><table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><tr valign="top"><td align="right" style="WIDTH: 18pt"><div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;</font></div></td> <td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Debt</font></div></td></tr></table></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our 3.75% senior subordinated convertible notes due 2034 became convertible on January 15, 2009 at the option of the holders of the notes at a price of $395.02 per note.&#160;&#160;After this date, the note price increases as interest accrues at the stated rate of 3.75%.&#160;&#160;&#160;We may only pay cash up to the value of the accretedprincipal, and at our option, any combination of cash and common stock upon conversion.&#160;&#160;During the six months ended June 30, 2009, approximately 37% of the notes were converted for $86.1 million in cash and 702,700 shares of common stock at a weighted average share price of $42.19.&#160;&#160;No gain or loss was recorded upon these conversions.&#160;&#160;In addi tion, a related $5.8 million deferred tax liability associated with excess deductions recorded for tax purposes was relieved to additional paid in capital upon the conversions.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The adoption of FSP APB 14-1 requires us to separately account for the liability and equity components of our 3.75% senior subordinated convertible notes in a manner that reflects our nonconvertible debt borrowing rate when interest cost is recognized. 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In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairlythe financial position, results of operations and cash flows of Roper Industries, Inc. and its subsidiaries ("Roper", "we" or "us") for all periods presented.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). Actualresults could differ from those estimates.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The results of operations for the t hree and six month periods ended June 30, 2009 are not necessarily indicative of the results to be expected for the full year. You should read these unaudited condensed consolidated financial statements in conjunction with Roper&#8217;s consolidated financial statements and the notes thereto included in its2008 Annual Report on Form 10-K ("Annual Report") filed on March 2, 2009 with the Securities and Exchange Commission ("SEC"), as supplemented by our Current Report on Form 8-K filed on May 15, 2009 to retrospectively adopt FASB Staff Position ("FSP") No. APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" <font style="DISPLAY: inline; FONT-SIZE: 10pt">&#8211; see Note 2 below.</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In May 2009, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No.&#160;165, "Subsequent Events" ("SFAS 165"), which established general accounting standards and disclosure for subsequent events.&#160;We adopted SFAS 165 during the second quarter of 2009. 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FSP APB 14-1 clarifies that convertible debt instruments that may be settled in cash upon either&#160;mandatory or optional conversion (includingpartial cash settlement) are not addressed by paragraph 12 of APB Opinion No.&#160;14, "Accounting for Convertible Debt and Debt issued with Stock Purchase Warrants." Additionally, FSP APB 14-1 specifies that issuers of such instruments should separately account for the liability and equity components in a manner that will reflect the entity&#8217;s nonconvertible debt borrowing rate when interest cost is recognized in subsequent periods. 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FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June 2009, the FASB issued SFAS No. 168, "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles" ("SFAS 168"). SFAS 168 will become the source of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC underauthority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of this Statement, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritativ e. This statement is effective for financial statements issued for interim and annual periods ending after September 15, 2009.&#160;&#160;We do not expect the adoptionof&#160;SFAS 168 to have an impact on our results of operations, financial condition or cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In May 2009, the FASB issued SFAS No. 165, "Subsequent Events," which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued.&#160;&#160;SFAS 165 requires an entity to disclose the date subsequent events wereevaluated and whether that evaluation took place on the date financial statements were issued or were available to be issued. It is effective for interim and annual periods ending after June 15, 2009. The adoption of SFAS <a name="lastkeyword">165 did not have a material impact on our financial condition or results of operation. </a></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April 2009, the FASB issued FSP FAS No. 107-1 and APB 28-1 which requires disclosures about fair value of financial instruments in summarized financial information for interim reporting periods. We have adopted FSP FAS No. 107-1 and APB 28-1 and provided the additional disclosures required.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&l t;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In December 2007, the FASB issued SFAS No. 141 (revised 2007), "Business Combinations" ("SFAS 141(R)"). SFAS 141(R) establishes principles and requirements for how an acquirer in a business combination recognizes and measures the assets acquired, liabilities assumed, and any noncontrolling interest (previously referred to as minority interest)in the acquiree. On April 1, 2009, the FASB issued FSP FAS 141(R)-1, which amends and clarifies SFAS 141(R) to address application issues raised by preparers, auditors, and members of the legal profession on initial recognition and measurement, subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in a business combination. We will apply the provisions of this statement prospectively to business combinations acquired on or after January 1, 2009.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April 2008, the FASB issued FSP No. 142-3, "Determination of the Useful Life of Intangible Assets" ("FSP 142-3"). FSP 142-3 amends the factors an entity should consider in developing renewal or extension assumptions used in determining the useful life of recognized intangible assets under FASB Statement No. 142, "Goodwill and Other IntangibleAssets." This new guidance applies prospectively to intangible assets that are acquired individually or with a group of other assets in business combinations and asset acquisitions, and increases the disclosure requirements related to renewal or extension assumptions. FSP 142-3 is to be applied prospectively to intangible assets acquired on or after January 1, 2009. We will apply the provisions of this statemen t prospectively to business combinations acquired on or after January 1, 2009.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June 2008, the FASB issued FSP EITF 03-6-1, "Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities" ("FSP EITF 03-6-1"). FSP EITF 03-6-1 clarified that all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends participate in undistributed earningswith common shareholders. Awards of this nature are considered participating securities and the two-class method of computing basic and diluted earnings per share must be applied. We adopted FSP EITF 03-6-1 on January 1, 2009. The implementation of this standard did not have a material impact on our consolidated f inancial position and results of operations.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In September&#160;2006, the FASB issued SFAS No.&#160;157, "Fair Value Measurements," ("SFAS 157") which clarifies the definition of fair value, establishes a framework for measuring fair value and expands the disclosures on fair value measurements. SFAS&#160;157 was effective for fiscal years beginning after November&#160;15, 2007 anddid not have a material impact on our consolidated financial statements. In February 2008, the FASB issued FSP 157-2 "Partial Deferral of the Effective Date of Statement 157" ("FSP 157-2"). FSP 157-2 delayed the effective date of SFAS 157, for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or discl osed at fair value in the financial statements on a recurring basis (at least annually) to fiscal years beginning after November 15, 2008. We adopted SFAS 157-2 on January 1,2009.&#160;&#160;The adoption of the provisions of SFAS 157 related to non-financial assets and liabilities did not have a material effect on our consolidated financial statements.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div></div> 0 13779000 0 0 0 -16102000 -7679000 148745000 233526000 865437000 858307000 325922000 376855000 <div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div><table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><tr valign="top"><td align="right" style="WIDTH: 18pt"><div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.&#160;&#160;</font></div></td> <td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contingencies</font></div></td></tr></table></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Roper, in the ordinary course of business, is the subject of, or a party to, various pending or threatened legal actions, including those pertaining to product liability and employment practices. It is vigorously contesting all lawsuits that, in general, are based upon claims of the kind that have been customary over the past several years.After analyzing our contingent liabilities on a gross basis and, based upon past experience with resolution of its product liability and employment practices claims and the limits of the primary, excess, and umbrella liability insurance coverages that are available with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on our consolidated financial position, results of operations or cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Over recent years there has been a significant increase in certain U.S. states in asbestos-related litigation claims against numerous industrial companies. Roper or its subsidiaries have been named defendants in some such cases. No significant resources have been required by us to respond to these cases and we believe we have valid defensesto such claims and, if required, intend to defend them vigorously. Given the state of these claims it is not possible to determine the potential liability, if any.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our financial statements include accruals for potential product liability and warranty claims based on our claims experience. Such costs are accrued at the time revenue is recognized. 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