based on historical claims experience. Actual claims incurred could dif-
fer from the original estimates, requiring adjustments to the reserve. 
Activity associated with warranty obligations was as follows:
(In thousands)  2003 2002
Balance at the beginning of the period  $ 8,405 $ 5,632
Accruals for warranties issued during the period  7,907   6,542
Accrual related to pre-existing warranties   629   2,686
Settlements made during the period    (8,015)  (6,455)
Balance at the end of the period    $ 8,926 $ 8,405
R E V E N U E  R E C O G N I T I O N
Revenue is normally recognized upon shipment of goods to customers. 
In certain circumstances revenue is not recognized until the goods are 
received by the customer or upon installation and customer acceptance 
based on the terms of the sales agreement. Revenue includes freight 
charged to customers; related costs are in selling and administrative 
expense. Rebates, discounts, and other marketing program expenses 
that are directly related to the sale are recorded as a deduction to net 
sales. Marketing program accruals require the use of management esti-
mates and the consideration of contractual arrangements that are 
subject to interpretation. Customer sales that reach certain award levels 
can affect the amount of such estimates and actual results could differ 
from these estimates.