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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
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
 
Reserve
acquired
 
Balance
at end
of year
 
(In thousands)
2012
$
298

 
$
138

 
$
(30
)
 
$
82

(a) 
$
488

2011
$
441

 
$
91

 
$
(274
)
 
$
40

(b) 
$
298

2010
$
291

 
$
227

 
$
(77
)
 
$
—

  
$
441


(a) The reserve increased $82,000 in 2012 related to the acquisition of Racine Federated, Inc. (“Racine Federated”). Refer to Note 3 “Acquisitions” for a description of the acquisition.
(b) The reserve increased $40,000 in 2011 related to the acquisition of Remag AG. 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)
2012
$
2,680

 
$
1,082

 
$
(882
)
 
$
2,880

2011
$
2,775

 
$
328

 
$
(423
)
 
$
2,680

2010
$
2,042

 
$
1,345

 
$
(612
)
 
$
2,775


Intangible Assets
The carrying value and accumulated amortization by major class of intangible assets are as follows:
 
December 31, 2012
 
December 31, 2011
 
Gross carrying
amount
 
Accumulated
amortization
 
Gross carrying
amount
 
Accumulated
amortization
 
(In thousands)
Technologies
$
43,828

 
$
7,609

 
$
31,928

 
$
5,150

Non-compete agreements
1,932

 
862

 
1,932

 
675

Licenses
650

 
390

 
650

 
373

Trademarks
150

 
150

 
150

 
145

Customer lists
3,423

 
483

 
3,423

 
291

Customer relationships
11,500

 
1,054

 
—

 
—

Trade names
8,223

 
807

 
2,523

 
292

Total intangibles
$
69,706

 
$
11,355

 
$
40,606

 
$
6,926

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)
2012
$
1,593

 
$
719

 
 
 
$
(1,431
)
 
$
—

 
  
 
$
881

2011
$
889

 
$
1,592

 
(a) 
 
$
(888
)
 
$
—

 
 
 
$
1,593

2010
$
907

 
$
552

 
  
 
$
(668
)
 
$
98

 
(b) 
 
$
889

 
(a)
Included in the 2011 increase in the reserve was $0.6 million related to a specific product issue.
(b)
The reserve increased $98,000 in 2010 related to the acquisition of Cox Flow Measurement. Refer to Note 3 “Acquisitions” for a description of the acquisition.
Accumulated other comprehensive income (loss)
Components of accumulated other comprehensive income (loss) at December 31 are as follows:
 
2012
 
2011
 
(In thousands)
Cumulative foreign currency translation adjustment
$
1,584

 
$
1,190

Unrecognized pension and postretirement benefit plan liabilities, net of tax
(15,532
)
 
(15,756
)
Accumulated other comprehensive loss
$
(13,948
)
 
$
(14,566
)