Nautilus 2014 Annual Report Download - page 48
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We did not have any changes to our valuation techniques during the year ended December 31, 2014.
We classify our marketable securities as available-for-
sale and, accordingly, record them at fair value. Level 1 investments valuations are
obtained from real-
time quotes for transactions in active exchange markets involving identical assets. Level 2 investments valuations are
obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted
prices in markets with limited volume or infrequent transactions. The factors or methodology used for valuing securities are not necessarily an
indication of the risk associated with investing in those securities. Unrealized holding gains and losses are excluded from earnings and are
reported net of tax in other comprehensive income until realized. During the year ended December 31, 2014, we did not record any other-than-
temporary impairments on our financial assets required to be measured at fair value on a nonrecurring basis.
We recognize or disclose the fair value of certain assets, such as non-
financial assets, primarily Property, Plant and Equipment, Goodwill, Other
Intangible Assets and certain other long-
lived assets in connection with impairment evaluations. All of our nonrecurring valuations use
significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. Other than our annual Goodwill and indefinite-
lived
trade names impairment valuations effective as of October 1, 2014 and 2013, we did not perform any valuations on assets or liabilities that are
valued at fair value on a nonrecurring basis.
(4) TRADE RECEIVABLES
Trade receivables, net, consisted of the following (in thousands):
Changes in our allowance for doubtful trade receivables were as follows (in thousands):
(5) INVENTORIES
Inventories consisted of the following (in thousands):
41
December 31,
2014
2013
Trade receivables
$
26,368
$
25,389
Allowance for doubtful accounts
(108
)
(53
)
$
26,260
$
25,336
2014
2013
2012
Balance, January 1
$
53
$
93
$
300
Charges to (reversals of) bad debt expense
104
588
(13
)
Writeoffs, net of recoveries
(49
)
(628
)
(194
)
Balance, December 31
$
108
$
53
$
93
December 31,
2014
2013
Finished goods
$
23,765
$
14,259
Parts and components
1,131
1,565
$
24,896
$
15,824