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Basis of Presentation and Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
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)

 

2024

 

$

2,904

 

 

$

275

 

 

$

(199

)

 

$

2,980

 

2023

 

 

1,179

 

 

 

1,862

 

 

 

(137

)

 

 

2,904

 

2022

 

 

697

 

 

 

515

 

 

 

(33

)

 

 

1,179

 

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)

 

2024

 

$

6,874

 

 

$

4,023

 

 

$

(2,412

)

 

$

8,485

 

2023

 

 

6,681

 

 

 

2,135

 

 

 

(1,942

)

 

 

6,874

 

2022

 

 

6,078

 

 

 

1,498

 

 

 

(895

)

 

 

6,681

 

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, 2024

 

 

December 31, 2023

 

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

 

(In thousands)

 

Technologies

 

$

62,451

 

 

$

42,341

 

 

$

66,157

 

 

$

41,845

 

Intellectual property

 

 

6,463

 

 

 

1,583

 

 

 

7,086

 

 

 

1,301

 

Non-compete agreements

 

 

597

 

 

 

592

 

 

 

627

 

 

 

610

 

Licenses

 

 

650

 

 

 

595

 

 

 

650

 

 

 

578

 

Customer lists

 

 

8,092

 

 

 

6,382

 

 

 

8,235

 

 

 

5,863

 

Customer relationships

 

 

28,981

 

 

 

15,532

 

 

 

27,884

 

 

 

12,936

 

Trade names

 

 

15,097

 

 

 

10,240

 

 

 

15,424

 

 

 

9,193

 

Total intangibles

 

$

122,331

 

 

$

77,265

 

 

$

126,063

 

 

$

72,326

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)

 

2024

 

$

11,102

 

 

$

69

 

 

$

13,349

 

 

$

(7,827

)

 

$

16,693

 

2023

 

 

9,606

 

 

 

93

 

 

$

9,759

 

 

$

(8,356

)

 

 

11,102

 

2022

 

 

12,868

 

 

 

-

 

 

$

5,624

 

 

$

(8,886

)

 

 

9,606

 

Schedule of Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss at December 31, 2024 are as follows:

 

(In thousands)

 

Unrecognized
pension and
postretirement
 benefits

 

 

Foreign currency

 

 

Total

 

Balance at beginning of period

 

$

920

 

 

$

(2,566

)

 

$

(1,646

)

Other comprehensive loss before reclassifications

 

 

-

 

 

 

(6,486

)

 

 

(6,486

)

Amounts reclassified from accumulated other comprehensive loss, net of tax of $76

 

 

226

 

 

 

-

 

 

 

226

 

Net current period other comprehensive loss, net of tax

 

 

226

 

 

 

(6,486

)

 

 

(6,260

)

Accumulated other comprehensive loss

 

$

1,146

 

 

$

(9,052

)

 

$

(7,906

)

 

Reclassifications out of accumulated other comprehensive loss during 2024 were immaterial.

Components of accumulated other comprehensive income at December 31, 2023 are as follows:

 

(In thousands)

 

Unrecognized
pension and
postretirement
 benefits

 

 

Foreign currency

 

 

Total

 

Balance at beginning of period

 

$

994

 

 

$

(6,977

)

 

$

(5,983

)

Other comprehensive income before reclassifications

 

 

-

 

 

 

4,411

 

 

 

4,411

 

Amounts reclassified from accumulated other comprehensive loss, net of tax of ($26)

 

 

(74

)

 

 

-

 

 

 

(74

)

Net current period other comprehensive loss, net of tax

 

 

(74

)

 

 

4,411

 

 

 

4,337

 

Accumulated other comprehensive loss

 

$

920

 

 

$

(2,566

)

 

$

(1,646

)

 

Reclassifications out of accumulated other comprehensive loss during 2023 were immaterial.