text: S U M M A R Y O F S I G N I F I C A N T A C C O U N T I N G P O L I C I E S  1 
  
  Atrion Corporation designs, develops, manufactures and markets products primarily for the medical and health care industry. The Company markets its 
  products throughout the United States and internationally. The Company’s customers include hospitals, distributors, and other manufacturers. As of 
  December 31, 2003, the principal subsidiaries of the Company through which it conducted its operations were Atrion Medical Products, Inc. (“Atrion 
  Medical Products”), Halkey-Roberts Corporation (“Halkey-Roberts”) and Quest Medical, Inc. (“Quest Medical”). 
  
  **P R I N C I P L E S O F C O N S O L I D A T I O N**
  The consolidated financial statements include the accounts of Atrion Corporation and its subsidiaries (the “Company”). All significant intercompany 
  transactions and balances have been eliminated in consolidation. 
  
  **F A I R V A L U E**
  The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term nature of these 
  items. The carrying amount of debt approximates fair value as the interest rate is tied to market rates. 