Statement, Business Segments [Axis]
United States
Canada
Europe
Disposal Group Name [Axis]
Fremont, NC
Business Acquisition [Axis]
Vogel Capital Inc. d/b/a Diamond Machining Technology
Spill Magic
Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Is Entity a Well-known Seasoned Issuer?
Is Entity a Voluntary Filer?
Is Entity's Reporting Status Current?
Entity Filer Category
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Entity Public Float
Statement of Financial Position [Abstract]
ASSETS
Current assets:
Cash and cash equivalents
Accounts receivable, less allowance
Inventories:
Finished goods
Work in process
Raw materials and supplies
Total inventory
Prepaid expenses and other current assets
Total current assets
Property, plant and equipment:
Land
Buildings
Machinery and equipment
Total property, plant and equipment
Less accumulated depreciation
Net property, plant and equipment
Goodwill
Intangible assets, less accumulated amortization
Other assets
Total assets
LIABILITIES
Current liabilities:
Accounts payable
Other accrued liabilities
Total current liabilities
Long-term debt
Other non-current liabilities
Total liabilities
Commitments and Contingencies
STOCKHOLDERS' EQUITY
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,801,465 shares in 2017 and 4,788,965 in 2016 including treasury stock
Additional paid-in capital
Retained earnings
Treasury stock, at cost - 1,464,010 shares in 2017 and 2016
Accumulated other comprehensive loss:
Minimum pension liability
Translation adjustment
Total accumulated other comprehensive loss
Total stockholders' equity
Total liabilities and stockholders' equity
Common stock, par value
Common stock, shares authorized
Common stock, shares issued
Treasury stock, shares
Condensed Consolidated Statements Of Operations
Net sales
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income (loss):
Non-operating items:
Interest expense
Interest income
Interest expense, net
Other income, net
Total other expense, net
Income before income tax expense
Income tax expense
Net income
Basic earnings per share
Diluted earnings per share
Weighted average number of common shares outstanding - denominator used for basic per share computations
Weighted average number of dilutive stock options outstanding
Denominator used for diluted per share computations
Dividends declared per share
Condensed Consolidated Statements Of Comprehensive Income
Net income
Other comprehensive income -
Foreign currency translation adjustment
Total other comprehensive income (loss)
Comprehensive income
Statement of Cash Flows [Abstract]
Cash flows from operating activities:
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation
Amortization
Stock compensation expense
Gain on disposal/sale of assets
Changes in operating assets and liabilities:
Accounts receivable
Inventories
Prepaid expenses and other assets
Accounts payable
Other accrued liabilities
Total adjustments
Net cash used by operating activities
Cash flows from investing activities:
Purchase of property, plant, and equipment
Purchase of patents and trademarks
Acquisition of businesses
Proceeds from the sales of property, plant and equipment
Net cash used by investing activities
Cash flows from financing activities:
Net borrowings of long-term debt
Cash settlement of stock options
Proceeds from issuance of common stock
Distributions to stockholders
Purchase of treasury stock
Net cash provided by financing activities
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental cash flow information:
Cash paid for income taxes
Cash paid for interest
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation
Contingencies
Contingencies
Retirement Benefits [Abstract]
Pension
Debt And Shareholders Equity
Debt and Stockholders Equity
Segment Information
Segment Information
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation
Fair Value Measurements
Fair Value Measurements
Business Combinations [Abstract]
Business Combination
Contingencies Tables
Accrual for Environmental Remediation Table
Pension Tables
Components of Net Benefit Cost
Segment Information Tables
Financial Data By Segment Table
Assets By Segment
Statement [Table]
Statement [Line Items]
Purchase Price Allocation
Bridgeport, CT
Description of property sale
Proceeds from sale of assets
Mortgage receivable from sale of asset
Environmental remediation liability
Minimum environmental remediation monitoring period (in years)
Environmental remediation accrual at December 31, 2016
Estimated Costs
Payments
Environmental remediation accrual at March 31, 2017
Plan contributions during period
Components of net periodic benefit cost:
Interest cost
Service cost
Expected return on plan assets
Amortization of prior service costs
Amortization of actuarial loss
Net periodic benefit cost
Debt And Shareholders Equity Details Narrative
Outstanding borrowings under revolving loan agreement
Amount available for borrowing under revolving loan agreement
Credit facility borrowing capacity
Interest rate of LIBOR plus percentage
Credit facility interest rate
Facility fee per annum
Credit facility expiration date
Covenant terms and compliance
Common stock issued upon exercise of employee stock options (in shares)
Cash received upon exercise of employee stock options
Shares repurchased during period
Average repurchase price
Shares that may be purchased under repurchase program
Cash paid to settle employee stock options
Geographical [Axis]
Sales to external customers
Operating income (loss)
Interest expense, net
Other expense, net
Consolidated income before income taxes
Assets
Segment Information Details Narrative
Direct import sales to total net sales ratio
Stock Based Compensation Details Narrative
Share-based compensation expense
Stock options granted during period (in shares)
Weighted average fair value of stock options granted during period
Unrecognized compensation cost
Unrecognized compensation cost recognition period
Purchase price
Net income
Unaudited proforma net sales during period
Unaudited proforma net income during period
Assets:
Accounts Receivable
Inventory
Equipment
Prepaid expenses
Customer Relationships
Trade Name
Covenant Not-to-Compete
Intangible Assets
Total assets
Liabilities:
Accounts Payable
Accrued Expense
Total liabilities
Intangible assets, specifically covenant not-to-compete, acquired in business combination.
Intangible assets, specifically customer relationships, acquired in business combination.
Intangible assets, specifically trade name, acquired in business combination.
Entire disclosure for debt and shareholders equity.
Percentage of direct import sales to total net sales.
Estimated monitoring period after remediation is completed in years.
Facility fee, expressed as a percentage of the average daily unused portion of the revolving credit line.
Cash payment for settlement of stock options.
Schedule of assets by segment.
Inventory, Net
Assets, Current
Property, Plant and Equipment, Gross
Property, Plant and Equipment, Net
Liabilities, Current
Liabilities
Treasury Stock, Value
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax
Accumulated Other Comprehensive Income (Loss), Net of Tax
Stockholders' Equity Attributable to Parent
Liabilities and Equity
Gross Profit
Investment Income, Interest
Interest Income (Expense), Net
Other Nonoperating Income (Expense)
Nonoperating Income (Expense)
Weighted Average Number of Shares Outstanding, Diluted
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Gain (Loss) on Disposition of Assets
Increase (Decrease) in Receivables
Increase (Decrease) in Inventories
Increase (Decrease) in Prepaid Expense and Other Assets
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Other Accrued Liabilities
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Net Cash Provided by (Used in) Operating Activities
Payments to Acquire Property, Plant, and Equipment
Payments to Acquire Intangible Assets
Payments to Acquire Businesses and Interest in Affiliates
Net Cash Provided by (Used in) Investing Activities
Payments of Dividends
Payments for Repurchase of Equity
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents, Period Increase (Decrease)
Commitments and Contingencies Disclosure [Text Block]
Segment Reporting Disclosure [Text Block]
Fair Value Disclosures [Text Block]
Accrual for Environmental Loss Contingencies
Accrual for Environmental Loss Contingencies, Payments
Defined Benefit Plan, Expected Return (Loss) on Plan Assets
Defined Benefit Plan, Amortization of Gain (Loss)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities