10-Q

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 10-Q

☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period endedSeptember 30, 2017

OR

☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period fromto

Commission File Number 1-8524

Myers Industries, Inc.

(Exact name of registrant as specified in its charter)

Ohio	34-0778636
(State or other jurisdiction of	(IRS Employer Identification
incorporation or organization)	Number)
1293 South Main Street
Akron, Ohio	44301
(Address of principal executive offices)	(Zip code)

(330) 253-5592

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or15(d)of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes☑No☐.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☑
Non-Accelerated filer	☐ (Do not check if a smaller reporting company)	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑ .

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class	Outstanding as of October 31, 2017
Common Stock, without par value	30,438,041 shares

TABLE OF CONTENTS

Part I — Financial Information
Item 1. Financial Statements
Condensed Consolidated Statements of Operations (Unaudited)	1
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)	2
Condensed Consolidated Statements of Financial Position (Unaudited)	3
Condensed Consolidated Statement of Shareholders’ Equity (Unaudited)	5
Condensed Consolidated Statements of Cash Flows (Unaudited)	6
Notes to Unaudited Condensed Consolidated Financial Statements	7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
Item 3. Quantitative and Qualitative Disclosures About Market Risk	23
Item 4. Controls and Procedures	24
Part II — Other Information	25
Item 1. Legal Proceedings	25
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	25
Item 6. Exhibits	25
Signatures	26
Exhibit 31.1
Exhibit 31.2
Exhibit 32.1
Exhibit 101

Part I — Financial Information

Item 1. Financial Statements

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations (Unaudited)

(Dollars in thousands, except per share data)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Net sales	$	144,075		$	132,676		$	428,081		$	427,998
Cost of sales		103,336			96,758			306,056			299,373
Gross profit		40,739			35,918			122,025			128,625
Selling, general and administrative expenses		36,391			32,617			105,560			103,087
(Gain) loss on disposal of fixed assets		(2,763	)		315			(4,128	)		383
Impairment charges		—			—			544			9,874
Operating income		7,111			2,986			20,049			15,281
Interest expense, net		1,785			2,015			5,545			6,087
Income from continuing operations before income taxes		5,326			971			14,504			9,194
Income tax expense		2,050			547			6,088			6,422
Income from continuing operations		3,276			424			8,416			2,772
Income (loss) from discontinued operations, net of income tax		(19	)		(10	)		(52	)		(257	)
Net income	$	3,257		$	414		$	8,364		$	2,515
Income per common share from continuing operations:
Basic	$	0.11		$	0.01		$	0.28		$	0.09
Diluted	$	0.11		$	0.01		$	0.28		$	0.09
Income (loss) per common share from discontinued operations:
Basic	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.01	)
Diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.01	)
Net income per share:
Basic	$	0.11		$	0.01		$	0.28		$	0.08
Diluted	$	0.11		$	0.01		$	0.28		$	0.08
Dividends declared per share	$	0.14		$	0.14		$	0.41		$	0.41

See notes to unaudited condensed consolidated financial statements.

1

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

(Dollars in thousands)

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2017		2016			2017		2016
Net income	$	3,257	$	414		$	8,364	$	2,515
Other comprehensive income (loss)
Foreign currency translation adjustment		2,380		(823	)		3,491		6,009
Total other comprehensive income (loss)		2,380		(823	)		3,491		6,009
Comprehensive income (loss)	$	5,637	$	(409	)	$	11,855	$	8,524

See notes to unaudited condensed consolidated financial statements.

2

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Financial Position (Unaudited)

(Dollars in thousands)

	September 30,			December 31,
	2017			2016
Assets
Current Assets
Cash	$	4,511		$	7,888
Restricted cash		8,650			8,635
Accounts receivable, less allowances of $1,375 and $1,563, respectively		88,278			73,818
Inventories
Finished and in-process products		31,254			31,826
Raw materials and supplies		17,718			14,197
		48,972			46,023
Prepaid expenses and other current assets		2,881			4,787
Total Current Assets		153,292			141,151
Other Assets
Goodwill		60,048			59,219
Intangible assets, net		42,377			47,994
Deferred income taxes		253			216
Notes receivable		18,632			18,275
Other		6,871			3,347
		128,181			129,051
Property, Plant and Equipment, at Cost
Land		7,973			8,916
Buildings and leasehold improvements		59,925			65,566
Machinery and equipment		285,189			319,606
		353,087			394,088
Less allowances for depreciation and amortization		(261,153	)		(282,606	)
Property, plant and equipment, net		91,934			111,482
Total Assets	$	373,407		$	381,684

See notes to unaudited condensed consolidated financial statements.

3

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Financial Position (Unaudited)

(Dollars in thousands)

	September 30,			December 31,
	2017			2016
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	61,990		$	48,988
Accrued expenses
Employee compensation		17,921			11,861
Taxes, other than income taxes		2,185			2,178
Accrued interest		1,731			3,202
Other current liabilities		14,493			13,083
Total Current Liabilities		98,320			79,312
Long-term debt		158,010			189,522
Other liabilities		7,616			9,235
Deferred income taxes		11,729			10,582
Shareholders’ Equity
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)		—			—
Common Shares, without par value (authorized 60,000,000 shares;    outstanding 30,301,721 and 30,019,561; net of treasury shares    of 7,650,736 and 7,932,896, respectively)		18,418			18,234
Additional paid-in capital		207,118			202,033
Accumulated other comprehensive loss		(30,683	)		(34,174	)
Retained deficit		(97,121	)		(93,060	)
Total Shareholders’ Equity		97,732			93,033
Total Liabilities and Shareholders’ Equity	$	373,407		$	381,684

See notes to unaudited condensed consolidated financial statements.

4

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statement of Shareholders’ Equity (Unaudited)

(Dollars in thousands, except per share data)

	Common Shares		Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)			Retained Deficit			Total Shareholders' Equity
Balance at January 1, 2017	$	18,234	$	202,033	$	(34,174	)	$	(93,060	)	$	93,033
Net income		—		—		—			8,364			8,364
Foreign currency translation adjustment		—		—		3,491			—			3,491
Shares issued under incentive plans, net of shares withheld for tax		184		2,067		—			—			2,251
Stock compensation expense		—		3,018		—			—			3,018
Declared dividends - $0.41 per share		—		—		—			(12,425	)		(12,425	)
Balance at September 30, 2017	$	18,418	$	207,118	$	(30,683	)	$	(97,121	)	$	97,732

See notes to unaudited condensed consolidated financial statements.

5

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

	For the Nine Months Ended September 30,
	2017			2016
Cash Flows From Operating Activities
Net income	$	8,364		$	2,515
Income (loss) from discontinued operations, net of income taxes		(52	)		(257	)
Income from continuing operations		8,416			2,772
Adjustments to reconcile income from continuing operations to net cash provided by    (used for) operating activities
Depreciation		16,758			18,465
Amortization		6,764			7,428
Accelerated depreciation associated with restructuring activities		2,018			—
Non-cash stock-based compensation expense		2,873			2,804
(Gain) loss on disposal of fixed assets		(4,128	)		383
Deferred taxes		101			(1,985	)
Accrued interest income on note receivable		(983	)		(948	)
Impairment charges		544			9,874
Other		29			(338	)
Payments on performance based compensation		(1,010	)		(1,794	)
Other long-term liabilities		(140	)		(431	)
Cash flows provided by (used for) working capital
Accounts receivable		(12,754	)		1,057
Inventories		(2,490	)		7,349
Prepaid expenses and other current assets		1,696			484
Accounts payable and accrued expenses		18,416			(26,520	)
Net cash provided by (used for) operating activities - continuing operations		36,110			18,600
Net cash provided by (used for) operating activities - discontinued operations		—			—
Net cash provided by (used for) operating activities		36,110			18,600
Cash Flows From Investing Activities
Capital expenditures		(5,128	)		(11,490	)
Proceeds from sale of property, plant and equipment		8,075			194
Proceeds (payments) related to sale of business		—			(4,034	)
Net cash provided by (used for) investing activities - continuing operations		2,947			(15,330	)
Net cash provided by (used for) investing activities - discontinued operations		—			—
Net cash provided by (used for) investing activities		2,947			(15,330	)
Cash Flows From Financing Activities
Net borrowings (repayments) on credit facility		(31,397	)		4,440
Cash dividends paid		(12,230	)		(12,143	)
Proceeds from issuance of common stock		2,524			2,582
Excess tax benefit from stock-based compensation		—			139
Shares withheld for employee taxes on equity awards		(273	)		(925	)
Deferred financing costs		(1,030	)		—
Net cash provided by (used for) financing activities - continuing operations		(42,406	)		(5,907	)
Net cash provided by (used for) financing activities - discontinued operations		—			—
Net cash provided by (used for) financing activities		(42,406	)		(5,907	)
Foreign exchange rate effect on cash		(28	)		831
Net increase (decrease) in cash		(3,377	)		(1,806	)
Cash at January 1		7,888			7,344
Cash at September 30	$	4,511		$	5,538

See notes to unaudited condensed consolidated financial statements.

6

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except where otherwise indicated)

1.  Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2016.

Certain reclassifications have been made to prior year’s reported amounts in order to conform to the current year presentation.

In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of September 30, 2017, and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2017.

Accounting Standards Adopted

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting, which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company adopted this ASU effective January 1, 2017 and elected to recognize forfeitures as they occur. The cash flow classification requirements of ASU 2016-09 were applied prospectively. The adoption of this ASU did not have a material impact on the Company’s results of operations, cash flows or financial position.

Accounting Standards Not Yet Adopted

In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  This ASU requires that an employer report the service cost component in the same line item(s) as other compensation costs arising from services rendered by the pertinent employees during the period.  The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented.  The ASU also allows only the service cost component to be eligible for capitalization when applicable. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods.  The ASU should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets.  The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements as the pension plan is frozen.

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.  This ASU eliminates Step 2 of the goodwill impairment test and requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of its goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019.  The guidance allows for early adoption for impairment testing dates after January 1, 2017.  While the Company has elected not to early adopt this guidance for fiscal year 2017 and will continue to evaluate the timing of adoption, it does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements.

7

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230)-Restricted Cash. This ASU requires that companies include amounts generally described as restricted cash and restricted cash equivalents, along with cash and cash equivalents, when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows.  The ASU should be applied using a retrospective transition method to each period presented and is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. To the extent there are changes in the Company’s restricted cash balances, adoption of this standard will impact the statement of cash flows.

In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740). This ASU requires immediate recognition of the income tax consequences of intercompany asset transfers other than inventory. The ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments, which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows.  The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows.  This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted.  The Company does not anticipate that adoption of this standard will have a significant impact on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which introduces new guidance for theaccounting for credit losses on instruments.  The new guidance introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2019 including interim periods within that reporting period, with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The new standard is effective for the Company beginning January 1, 2019 and requires a modified retrospective approach. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles used to recognize revenue for all entities. Under ASU 2014-09, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. Additional disclosures will also be required to help users of financial statements understand the nature, amount, and timing of revenue and cash flows arising from contracts. The new guidance is effective January 1, 2018, with early adoption permitted for January 1, 2017. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statements of Shareholders’ Equity. The Company plans to adopt the new guidance effective January 1, 2018 under the modified retrospective approach and has developed an implementation plan. As part of this plan, the Company has identified its revenue streams and substantially completed its contract review for each of these revenue streams to assess the impact of the new guidance on its consolidated financial statements. This assessment included the potential impact of whether revenue from certain product lines would be required to be recognized over time rather than at a point in time. Based on the reviews completed to date, the Company does not currently anticipate any material changes to the timing of revenue recognition from point in time, and will continue to evaluate this contract review through the date of adoption. The Company is currently designing and implementing changes to processes and controls, where necessary, to address the requirements of the new standard upon adoption. In addition, the Company is assessing what incremental disaggregated revenue disclosures will be required in the consolidated financial statements.

8

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

Translation of Foreign Currencies

All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders' equity.

Fair Value Measurement

The Company follows guidance included in the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, as required. The guidance established a common definition for fair value to be applied under U.S. GAAP requiring the use of fair value, established a framework for measuring fair value, and expanded disclosure requirements about such fair value measurements. The guidance did not require any new fair value measurements, but rather applied to all other accounting pronouncements that require or permit fair value measurements. Under ASC 820, the hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly.

Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions.

The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximate carrying value due to the nature and relative short maturity of these assets and liabilities.

The fair value of debt under the Company’s Loan Agreement, as defined in Note 11, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements which are considered Level 2 inputs. At September 30, 2017 and December 31, 2016, the aggregate fair value of the Company's $100.0 million fixed rate senior unsecured notes was estimated at $101.0 million and $98.0 million, respectively.

Factoring

The Company's wholly-owned subsidiaries Plasticos Novel Do Nordeste S.A. and Plasticos Novel Do Parana S.A. (collectively, "Novel") entered into a factoring agreement to sell, without recourse, certain of their Brazilian Real-based trade accounts receivables to unrelated third party financial institutions as part of its working capital management. The sale of these receivables accelerated the collection of cash and reduced credit exposure. Under the terms of the factoring agreements, the Company retains no rights or interest and has no obligations with respect to the sold receivables. As such, the factoring of trade receivables under these agreements are accounted for as a sale. The Company accounts for its trade receivable factoring program as required under ASC 860, Transfers and Servicing. During the nine months ended September 30, 2017, approximately $1.3 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $1.2 million. During the nine months ended September 30, 2016, approximately $0.9 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $0.8 million. The receivables sold pursuant to the factoring agreements have been recorded as a reduction of trade accounts receivable and as cash provided by operating activities in the accompanying Condensed Consolidated Statements of Cash Flows (Unaudited). The Company pays an administrative fee based on the dollar value of the receivables sold. Administrative fees related to the program for both the nine months ended September 30, 2017 and 2016 were approximately $0.1 million. These fees are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited).

Revenue Recognition

The Company recognizes revenues from the sale of products, net of actual and estimated returns, at the point of passage of title and risk of loss, which is generally at time of shipment, and collectability of the fixed or determinable sales price is reasonably assured.

9

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

	Foreign Currency			Defined Benefit Pension Plans			Total
Balance at January 1, 2017	$	(32,342	)	$	(1,832	)	$	(34,174	)
Other comprehensive income before reclassifications		3,491			—			3,491
Net current-period other comprehensive income		3,491			—			3,491
Balance at September 30, 2017	$	(28,851	)	$	(1,832	)	$	(30,683	)

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. The Company maintains operating cash and reserves for replacement balances in financial institutions which, from time to time, may exceed federally insured limits. The Company periodically assesses the financial condition of these institutions and believes that the risk of loss is minimal.

2.  Impairment Charges

During the second quarter of 2017, an underutilized building at the Company’s Scarborough, Ontario, Canada location, in the Material Handling Segment, was identified for closure and classified as held for sale as of June 30, 2017, in Other Assets in the Condensed Consolidated Statements of Financial Position (Unaudited). This building has been recorded at its fair value, less estimated costs to sell, of $3.2 million (based primarily on a third party offer considered to be a Level 2 input), which resulted in an impairment charge of approximately $0.5 million recognized in the second quarter of 2017. No changes in the estimated fair value were recorded in the quarter ended September 30, 2017.

During the first quarter of 2016, the Company reviewed its long-lived assets, intangible assets and goodwill at Plasticos Novel do Nordeste S.A. (“Novel”), a reporting unit within the Material Handling Segment for impairment. The testing for impairment was performed as a result of the presence of impairment indictors resulting from the communication of a reduction in capital spending in the near-term from a significant customer in March 2016, which resulted in a significant reduction in Novel’s forecasted revenue and income.

The Company first conducted a review for impairment of indefinite-lived intangibles and other long-lived assets related to Novel, including amortizable intangible assets and fixed assets which indicated that the carrying amounts of such assets may not be recoverable and required an assessment of fair value of the assets for purposes of measuring an impairment charge. The estimated fair value of indefinite-lived intangibles was determined using a relief from royalty payments income approach and the other long-lived assets was determined, in part, using an analysis of projected cash flows, a market approach and a cost approach. These valuation methods use Level 3 inputs under the fair value hierarchy discussed in Note 1.

To test for potential impairment for goodwill, the Company performed an interim impairment test as of March 31, 2016. The step one goodwill impairment test was performed using a discounted cash flow (“DCF”) valuation model. The significant assumptions in the DCF model are the annual revenue growth rate, the annual operating income margin and the discount rate used to determine the present value of the cash flow projections. The discount rate was based on the estimated weighted average cost of capital as of the testing date for market participants in the industry in which the Novel reporting unit operates. Based on the estimated fair value generated by the DCF model, the Novel reporting unit’s fair value did not exceed its carrying value as of March 31, 2016 and therefore a step two analysis was required to be performed. The decline in fair value of the reporting unit resulted primarily from lower projected operating results and cash flows than those utilized from the 2015 annual impairment test, directly related to the triggering event outlined above. During the first quarter of 2016, a step two analysis was performed to allocate estimated fair value to assets and liabilities in order to estimate an implied value of goodwill.  As a result of these impairment reviews, the Company concluded that the goodwill, intangibles and other long-lived assets related to Novel were impaired and recorded a non-cash impairment charge of $8.5 million, which was reported in Impairment Charges in the Condensed Consolidated Statements of Operations (Unaudited) in the first half of 2016.  

10

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

During the second quarter of 2016, the Company recorded impairment charges of $1.3 million primarily related to long-lived assets associated with the exit of a non-strategic product line in the Material Handling Segment.

3.  Discontinued Operations

On February 17, 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners V, L.P., a private equity firm, for $110.0 million, subject to a working capital adjustment. The terms of the agreement include a $90.0 million cash payment, promissory notes totaling $20.0 million that mature in August 2020 with a 6% interest rate, and approximately $8.6 million placed in escrow that was due to be settled by August 2016, but has been extended until indemnification claims are resolved, as described in Note 10.  The fair market value of the notes at the date of the sale was $17.8 million. The carrying value of the notes as of September 30, 2017 was $18.6 million, which represents the fair value at the date of sale plus accretion and is included in Notes Receivable in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited). The fair value of the notes receivable was calculated using Level 2 inputs as defined in Note 1. The final working capital adjustment resulted in a cash payment to the buyer of approximately $4.0 million in the first half of 2016.

4.  Restructuring

On March 9, 2017, the Company announced a restructuring plan (the “Plan”) to improve the Company’s organizational structure and operational efficiency within the Material Handling Segment, which related primarily to anticipated facility shutdowns and associated activities.  Total restructuring costs expected to be incurred are approximately $7.9 million, which includes employee severance and other employee-related costs of approximately $3.2 million, $2.6 million related to equipment relocation and facility shut down costs and non-cash charges, primarily accelerated depreciation charges on property, plant and equipment, of approximately $2.1 million.  The Company expects to incur approximately $0.8 million during the remainder of 2017 under the Plan, as all remaining actions under the Plan are expected to be substantially completed by the end of the year.

During the three and nine months ended September 30, 2017, the Company incurred restructuring charges of $1.0 million and $5.2 million, respectively, related to closing a manufacturing plant in Bluffton, Indiana. In the third quarter of 2017, the Bluffton facility and certain related equipment, previously classified as held for sale, were sold for approximately $6.0 million, which resulted in a gain of $2.6 million. Additional gains of $0.2 million and $1.5 million for the three and nine months ended September 30, 2017, respectively, were recognized on other asset dispositions in connection with closing this plant.  

In the second quarter of 2017, the Company finalized the specific actions to be taken under the Plan to reduce headcount in its Scarborough, Ontario, Canada location.  These actions resulted in the recognition of $0.9 million and $1.6 million of severance and related costs for the three and nine months ended September 30, 2017, respectively.

During the three and nine months ended September 30, 2017, the Company recognized $0.2 million and $0.3 million of restructuring charges related to the planned closure of a manufacturing plant in Sandusky, Ohio.

The restructuring charges noted above are presented in the Condensed Consolidated Statement of Operations (Unaudited) as follows:

	For the Three Months Ended September 30, 2017		For the Nine Months Ended September 30, 2017
Cost of sales	$	1,908	$	6,968
Selling, general and administrative expenses		164		164
	$	2,072	$	7,132

11

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

The table below summarizes restructuring activity for the nine months endedSeptember 30, 2017:

	Employee Reduction			Accelerated Depreciation			Other Exit Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—		$	—
Charges to expense		2,868			2,018			2,246			7,132
Cash payments		(773	)		—			(1,929	)		(2,702	)
Non-cash utilization		—			(2,018	)		—			(2,018	)
Balance at September 30, 2017	$	2,095		$	—		$	317		$	2,412

In addition to the restructuring costs noted above, the Company has also incurred other associated costs of the Plan of $0.3 million and $1.0 million for the three and nine months ended September 30, 2017, respectively, which are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited), and are primarily related to third party consulting costs.  Additional estimated costs of $0.2 million are expected to be incurred throughout the remainder of 2017.

5.  Inventories

Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 40 percent of our inventories are valued using the LIFO method of determining cost. All other inventories are valued at the FIFO method of determining cost. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management’s estimates of expected year-end inventory levels and costs. Because these are based on estimates, interim results are subject to change in the final year-end LIFO inventory valuation. In the current quarter, one inventory pool had an increase in commodity costs that is expected to hold through year-end, and therefore, an adjustment of $0.4 million was made to increase the LIFO reserve and cost of sales for the three months ended September 30, 2017. No adjustment was recorded during prior interim reporting periods as interim results in those periods were immaterial.

6.  Other Current Liabilities

The balance in other current liabilities is comprised of the following:

	September 30,		December 31,
	2017		2016
Deposits and amounts due to customers	$	4,048	$	2,688
Dividends payable		4,455		4,260
Accrued litigation and professional fees		606		452
Current portion of environmental reserves		1,022		605
Other accrued expenses		4,362		5,078
	$	14,493	$	13,083

7.  Goodwill and Intangible Assets

The change in goodwill for the nine months ended September 30, 2017 was as follows:

	Distribution		Material Handling		Total
January 1, 2017	$	505	$	58,714	$	59,219
Foreign currency translation		—		829		829
September 30, 2017	$	505	$	59,543	$	60,048

Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated

12

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

useful lives. The Company has indefinite-lived trade names which had a carrying value of $10.9 million at bothSeptember 30, 2017 and December 31, 2016.

See Note 2 for discussion of goodwill, trade names and other long-lived asset impairment charges in the first half of 2016.

8.  Net Income (Loss) per Common Share

Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Weighted average common shares outstanding basic		30,266,838		29,849,005		30,149,818		29,682,798
Dilutive effect of stock options and restricted stock		385,105		226,473		374,343		266,913
Weighted average common shares outstanding diluted		30,651,943		30,075,478		30,524,161		29,949,711

Options to purchase 256,600 and 261,100 shares of common stock that were outstanding for the three and nine months ended September 30, 2017, respectively, and 569,050 for the three and nine months ended September 30, 2016, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive.

9.  Stock Compensation

Subject to shareholder approval, which was received on April 26, 2017, the Board of Directors approved the Company’s Amended and Restated 2017 Incentive Stock Plan (the “2017 Plan”) on March 2, 2017. The 2017 Plan authorizes the Compensation Committee of the Board of Directors to issue up to 5,126,950 shares of various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. Options granted and outstanding vest over the requisite service period and expire ten years from the date of grant.

In March 2017, the Company granted 397,759 stock options with a weighted average exercise price of $14.30 and a weighted average fair value of $4.47. The fair value of options granted is estimated using a binomial lattice option pricing model. Also in March 2017, the Company granted 87,887 and 140,746 time-based and performance-based restricted stock units, respectively, with a weighted average fair value of $14.30. There were no stock-based awards granted in the second or third quarters of 2017.

Stock compensation expense was approximately $1.1 million and $0.7 million for the three months ended September 30, 2017 and 2016, respectively, and $2.9 million and $2.8 million for the nine months ended September 30, 2017 and 2016, respectively. These expenses are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited). Total unrecognized compensation cost related to non-vested stock-based compensation arrangements at September 30, 2017 was approximately $6.5 million, which will be recognized over the next three years, as such compensation is earned.

10.  Contingencies

The Company is a defendant in various lawsuits and a party to various other legal proceedings, in the ordinary course of business, some of which are covered in whole or in part by insurance.

New Idria Mercury Mine

In September 2015, the U.S. Environmental Protection Agency (“EPA”) formally informed a subsidiary of the Company, Buckhorn, Inc. (“Buckhorn”) via a notice letter and related documents (the “Notice Letter”) that it considers Buckhorn to be a potentially responsible party (“PRP”) in connection with the New Idria Mercury Mine site (“New Idria Mine”).  New Idria Mining & Chemical Company (“NIMCC”), which owned and/or operated the New Idria Mine through 1976 was merged into Buckhorn Metal Products Inc. in 1981, which was subsequently acquired by Myers Industries in 1987.  As a result of the EPA Notice Letter, Buckhorn and the

13

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

Company are engaged in negotiations with the EPA with respect to a draft Administrative Order of Consent (“AOC”) proposed by the EPA for the Remedial Investigation/Feasibility Study (“RI/FS”) to determine the extent of remediation necessary and the screening of alternatives.

The New Idria Mine is located near Hollister, California and was added to the Superfund National Priorities List by the EPA in October 2011, at which time the Company recognized expense of $1.9 million related to performing the RI/FS.   In the second quarter of 2016, the Company, based on discussions with the EPA, determined that the RI/FS would begin in 2017 and therefore obtained updated estimated costs to perform the RI/FS.  As a result of the updated estimated costs, the Company recorded additional expense of $1.0 million in the second quarter of 2016.  In the second quarter of 2017, the Company, based on the status of its discussions with the EPA, determined that field work on the RI/FS will likely begin in 2018 with no changes to the cost estimates to perform the RI/FS. In the third quarter of 2017, the Company recorded an additional reserve of $0.3 million for this project, as a result of additional professional fees and other project costs expected to be incurred as part of the implementation of the AOC and site preparation and stabilization, in advance of starting the RI/FS field work in 2018.  As part of the Notice Letter, the EPA also made a claim for approximately $1.6 million in past costs for actions it claims it has taken in connection with the New Idria Mine since 1993.  While the Company is challenging these past cost claims, in 2015 the Company recognized expense of $1.3 million related to the portion of these costs alleged to have been incurred after the site was added to the Superfund list in 2011.  

As of September 30, 2017, the Company has a total reserve of $2.7 million related to the New Idria Mine, of which $0.7 million is classified in Other Current Liabilities and $2.0 million is classified in Other Liabilities on the Condensed Consolidated Statements of Financial Position (Unaudited).

As negotiations with the EPA proceed it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. Estimates of the Company’s liability are based on current facts, laws, regulations and technology. Estimates of the Company’s environmental liabilities are further subject to uncertainties regarding the negotiations with EPA, the nature and extent of site contamination, the range of remediation alternatives available, evolving remediation standards, imprecise engineering evaluation and cost estimates, the extent of remedial actions that may be required, the number and financial condition of other PRPs that may be named as well as the extent of their responsibility for the remediation, and the availability of insurance coverage for these expenses.

At this time, we have not accrued for remediation costs in connection with this site as we are unable to estimate the liability, given the circumstances referred to above, including the fact that the final remediation strategy has not yet been determined.

New Almaden Mine

A number of parties, including the Company and its subsidiary, Buckhorn (as successor to NIMCC), were alleged by trustee agencies of the United States and the State of California to be responsible for natural resource damages due to environmental contamination of areas comprising the historical New Almaden mercury mines located in the Guadalupe River Watershed region in Santa Clara County, California (“County”). In 2005, Buckhorn and the Company, without admitting liability or chain of ownership of NIMCC, resolved the trustees’ claim against them through a consent decree that required them to contribute financially to the implementation by the County of an environmentally beneficial project within the impacted area.  Buckhorn and the Company negotiated an agreement with the County, whereby Buckhorn and the Company agreed to reimburse one-half of the County’s costs of implementing the project, originally estimated to be approximately $1.6 million. As a result, in 2005, the Company recognized expense of $0.8 million representing its share of the initial estimated project costs, of which approximately $0.5 million has been paid to date. In April 2016, the Company was notified by the County that the original cost estimate may no longer be appropriate due to expanded scope and increased costs of construction and provided a revised estimate of between $3.3 million and $4.4 million.  The Company completed a detailed review of the support provided by the County for the revised estimate, and as a result, recognized additional expense of $1.2 million in the second and third quarters of 2016.  As of September 30, 2017, the Company has a total reserve of $1.5 million related to the New Almaden Mine, of which $0.3 million is classified in Other Current Liabilities and $1.2 million is classified in Other Liabilities on the Condensed Consolidated Statements of Financial Position (Unaudited).  

The project has not yet been implemented though significant work on design and planning has been performed. Field work on the project is expected to commence in 2018.  As work on the project occurs, it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information.  In addition, the Company may have claims against and defenses to claims by the County under the 2005 agreement that could reduce or offset its obligation for reimbursement of some of these potential additional costs. With the assistance of environmental consultants, the Company will closely monitor this matter and will continue to assess its reserves as additional information becomes available.

14

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

Lawn and Garden Indemnification Claim

In connection with the sale of the Lawn and Garden business, as described in Note 3, the Company received a Notice of Indemnification Claims in April 2015, and a Second Notice of Indemnification Claims in July 2016 (collectively, the “Claims”), alleging breaches of certain representations and warranties under the agreement resulting in losses in the amount of approximately $10 million. As described in Note 3, approximately $8.6 million of the sale proceeds were placed in escrow and due to be settled in August 2016, but have been extended until the Claims are resolved. The Company believes these Claims are without merit and intends to vigorously defend its position.

When a loss arising from these matters is probable and can reasonably be estimated, we record the amount of the estimated loss, or the minimum estimated liability when the loss is estimated using a range, and no point within the range is more probable of occurrence than another. As additional information becomes available, any potential liability related to these matters will be assessed and the estimates will be revised, if necessary.

Based on current available information, management believes that the ultimate outcome of these matters will not have a material adverse effect on our financial position, cash flows or overall trends in our results of operations. However, these matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which the ruling occurs, or in future periods.

11.  Long-Term Debt and Loan Agreements

Long-term debt consisted of the following:

	September 30,		December 31,
	2017		2016
Loan Agreement	$	59,795	$	90,686
4.67% Senior Unsecured Notes due 2021		40,000		40,000
5.25% Senior Unsecured Notes due 2024		11,000		11,000
5.30% Senior Unsecured Notes due 2024		29,000		29,000
5.45% Senior Unsecured Notes due 2026		20,000		20,000
		159,795		190,686
Less unamortized deferred financing costs		1,785		1,164
	$	158,010	$	189,522

In March 2017, the Company entered into a Fifth Amended and Restated Loan Agreement (the “Loan Agreement”).  The Loan Agreement replaced the pre-existing $300 million senior revolving credit facility with a $200 million facility and extended the term from December 2018 to March 2022.  In addition, the Loan Agreement provides for a maximum Leverage Ratio of 3.75 for the first and second quarters of 2017, stepping down to 3.5 in the third quarter of 2017, and 3.25 thereafter.

Under the terms of the Loan Agreement, the Company may borrow up to $200.0 million, reduced for letters of credit issued. As of September 30, 2017, the Company had $135.8 million available under the Loan Agreement. The Company had $4.4 million of letters of credit issued related to insurance and other financing contracts in the ordinary course of business at September 30, 2017. Borrowings under the Loan Agreement bear interest at the LIBOR rate, prime rate, federal funds effective rate, the Canadian deposit offered rate, or the euro currency reference rate depending on the type of loan requested by the Company, plus the applicable margin as set forth in the Loan Agreement. The average interest rate on borrowings under our loan agreements were 5.18% and 4.65% for the three months ended September 30, 2017 and 2016, respectively, and 5.05% and 4.61% for the nine months ended September 30, 2017 and 2016, respectively, which includes a quarterly facility fee on the used and unused portion.

In September 2017, the Company made an offer to all holders of the $100 million Senior Unsecured Notes (“Notes”) to purchase all or a portion of the Notes prior to their maturity dates. In October 2017, one note holder accepted the offer and elected to tender $22 million in Notes. The Company purchased the Notes from the holder on October 31, 2017 and a loss on extinguishment of debt of approximately $1.9 million was recorded during the fourth quarter of 2017.

15

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

12.  Retirement Plans

The Company and certain of its subsidiaries have pension and profit sharing plans covering substantially all of their employees. The Company’s defined benefit pension plan, The Pension Agreement between Akro-Mils and United Steelworkers of America Local No. 1761-02, provides benefits primarily based upon a fixed amount for each year of service. The plan was frozen in 2007, and thus benefits for service were no longer accumulated after this date.

Net periodic pension cost is as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Interest cost	$	63		$	68		$	189		$	204
Expected return on assets		(74	)		(80	)		(222	)		(240	)
Amortization of net loss		24			20			72			61
Net periodic pension cost	$	13		$	8		$	39		$	25
Company contributions	$	—		$	—		$	—		$	—

The Company does not expect to make a contribution to the plan in 2017.

13.  Income Taxes

The Company’s effective tax rate was 38.5% and 42.0% for the three and nine months ended September 30, 2017, respectively, compared to 56.3% and 69.8% for the three and nine months ended September 30, 2016, respectively.  The effective income tax rate for the first nine months of 2017 and 2016 was different than the Company’s statutory rate, primarily due to losses in jurisdictions where the tax benefits are not recognized.   

The total amount of gross unrecognized tax benefits that would reduce the Company’s effective tax rate was $0.3 million and $0.5 million at September 30, 2017 and December 31, 2016, respectively.

The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of September 30, 2017, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2014. The Company is subject to state and local examinations for tax years of 2012 through 2016. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2012 through 2016.

16

MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – (Continued)

(Dollar amounts in thousands, except where otherwise indicated)

14.  Industry Segments

Using the criteria of ASC 280, Segment Reporting, the Company manages its business under two operating segments, Material Handling and Distribution, consistent with the manner in which our Chief Operating Decision Maker (“CODM”) evaluates performance and makes resource allocation decisions. None of the reportable segments include operating segments that have been aggregated.  These segments contain individual business components that have been combined on the basis of common management, customers, products, production processes and other economic characteristics. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up.

The Material Handling Segment manufactures a broad selection of plastic reusable containers, pallets, small parts bins, bulk shipping containers, storage and organization products and rotationally-molded plastic tanks for water, fuel and waste handling. This segment conducts its primary operations in the United States, but also operates in Brazil and Canada. Markets served encompass various niches of industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer, and others. Products are sold both directly to end-users and through distributors.

The Distribution Segment is engaged in the distribution of equipment, tools, and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products. The product line includes categories such as tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment and tools, and tire repair/retread supplies. The Distribution Segment operates domestically through sales offices, and four regional distribution centers in the United States and in foreign countries through export sales. In addition, the Distribution Segment operates directly in certain foreign markets, principally Central America, through foreign branch operations. Markets served include retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire retreaders, and government agencies.

Summarized segment detail for the three and nine months ended September 30, 2017 and 2016 are presented in the following table:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Net Sales
Material Handling	$	104,089		$	89,911		$	310,343		$	299,842
Distribution		40,004			42,793			117,836			128,248
Inter-company sales		(18	)		(28	)		(98	)		(92	)
Total net sales	$	144,075		$	132,676		$	428,081		$	427,998

Income (loss) from continuing operations before income taxes
Material Handling	$	10,325		$	4,378		$	29,839		$	26,152
Distribution		3,179			3,301			7,742			9,803
Corporate		(6,393	)		(4,693	)		(17,532	)		(20,674	)
Total operating income		7,111			2,986			20,049			15,281
Interest expense, net		(1,785	)		(2,015	)		(5,545	)		(6,087	)
Income from continuing operations before income taxes	$	5,326		$	971		$	14,504		$	9,194

17

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations:

Comparison of the Three Months Ended September 30, 2017 to the Three Months Ended September 30, 2016

Net Sales:

(dollars in millions)	Three Months Ended September 30,
Segment	2017		2016		Change			% Change
Material Handling	$	104.1	$	89.9	$	14.2			16	%
Distribution		40.0		42.8		(2.8	)		(7	)%
Inter-company sales		—		—		—
Total net sales	$	144.1	$	132.7	$	11.4			9	%

Net sales for the three months ended September 30, 2017 were $144.1 million, an increase of $11.4 million or 9% compared to the three months ended September 30, 2016. Net sales were positively impacted by higher sales volume of approximately $9.5 million, higher pricing of $1.2 million, and the effect of favorable currency translation of $0.7 million.

Net sales in the Material Handling Segment increased $14.2 million or 16% for the three months ended September 30, 2017 compared to the three months ended September 30, 2016. The increase in net sales was primarily due to higher sales volume of approximately $12.8 million, mainly due to increased demand in the Company’s consumer and food and beverage markets, higher pricing of $0.7 million, and the effect of favorable foreign currency translation of $0.7 million.

Net sales in the Distribution Segment decreased $2.8 million or 7% for the three months ended September 30, 2017 compared to the three months ended September 30, 2016, primarily the result of lower sales volume of approximately $3.3 million offset by higher pricing of $0.5 million.

Cost of Sales & Gross Profit:

	Three Months Ended September 30,
(dollars in millions)	2017			2016			Change		% Change
Cost of sales	$	103.3		$	96.8		$	6.5		7	%
Gross profit	$	40.7		$	35.9		$	4.8		13	%
Gross profit as a percentage of sales		28.3	%		27.1	%

Gross profit margin increased to 28.3% in the three months ended September 30, 2017 compared to 27.1% for the three months ended September 30, 2016, primarily due to improved mix within the higher sales volumes noted above, mainly in the food and beverage and consumer end markets, as well as the higher pricing of $1.2 million. These effects were partially offset by restructuring costs of $1.9 million within the Material Handling Segment, as well as higher raw material costs.

Selling, General and Administrative Expenses:

	Three Months Ended September 30,
(dollars in millions)	2017			2016			Change		% Change
SG&A expenses	$	36.4		$	32.6		$	3.8		12	%
SG&A expenses as a percentage of sales		25.3	%		24.6	%

Selling, general and administrative (“SG&A”) expenses for the three months ended September 30, 2017 were $36.4 million, an increase of $3.8 million or 12% compared to the same period in the prior year. SG&A expenses in the third quarter 2017 were impacted by higher incentive compensation of $3.9 million.

18

Restructuring:

As further discussed in Note 4, the Company continued to execute on the restructuring plan within the Material Handling Segment initiated in the first quarter of 2017.  The Company incurred a total of $2.1 million of restructuring costs in connection with the Plan during the three months ended September 30, 2017, as well as recognized $2.8 million in gains on sales of assets related to the closure and sale of the Bluffton, Indiana facility and certain related equipment.

As previously announced, the Company expects to save approximately $10 million on an annual basis as a result of the actions under the Plan, a portion of which began being realized starting in the third quarter of 2017.  The Plan is expected to be substantially completed by the end of 2017.

Net Interest Expense:

	Three Months Ended September 30,
(dollars in millions)	2017			2016			Change			% Change
Net interest expense	$	1.8		$	2.0		$	(0.2	)		(10	)%
Outstanding borrowings, net of deferred financing costs	$	158.0		$	197.9		$	(39.9	)		(20	)%
Average borrowing rate		5.18	%		4.65	%

Net interest expense for the three months ended September 30, 2017 of $1.8 million decreased 10% compared with $2.0 million for the three months ended September 30, 2016.  Lower average outstanding borrowings for the period were partially offset with a higher average borrowing rate.

Income Taxes:

	Three Months Ended September 30,
(dollars in millions)	2017			2016
Income from continuing operations before income taxes	$	5.3		$	1.0
Income tax expense	$	2.1		$	0.5
Effective tax rate		38.5	%		56.3	%

The Company’s effective tax rate of 38.5% for the three months ended September 30, 2017, decreased when compared with 56.3% for the three months ended September 30, 2016, primarily due to the mix of income by jurisdiction between periods, including those where no benefits are recognized on losses.

19

Comparison of theNine Months EndedSeptember 30, 2017 to the Nine Months EndedSeptember 30, 2016

Net Sales:

(dollars in millions)	Nine Months Ended September 30,
Segment	2017			2016			Change			% Change
Material Handling	$	310.3		$	299.8		$	10.5			4	%
Distribution		117.9			128.3			(10.4	)		(8	)%
Inter-company elimination		(0.1	)		(0.1	)		—
Total net sales	$	428.1		$	428.0		$	0.1			0	%

Net sales for the nine months ended September 30, 2017 were $428.1 million and were relatively flat with the nine months ended September 30, 2016. Net sales were negatively impacted by lower sales volume of approximately $4.0 million, offset by the effect of favorable foreign currency translation of approximately $2.2 million and higher pricing of $1.9 million.

Net sales in the Material Handling Segment increased $10.5 million or 4% for the nine months ended September 30, 2017 compared to the nine months ended September 30, 2016. The increase in net sales was due to higher sales volume of $6.7 million, mainly in the consumer and food and beverage markets, higher pricing of $1.6 million, and the effect of favorable foreign currency translation of $2.2 million.

Net sales in the Distribution Segment decreased $10.4 million or 8% for the nine months ended September 30, 2017 compared to the nine months ended September 30, 2016, primarily due to lower volume.  The decrease in volume was across all product lines and regions, including our export and international channels.  

Cost of Sales & Gross Profit:

	Nine Months Ended September 30,
(dollars in millions)	2017			2016			Change			% Change
Cost of sales	$	306.1		$	299.4		$	6.7			2	%
Gross profit	$	122.0		$	128.6		$	(6.6	)		(5	)%
Gross profit as a percentage of sales		28.5	%		30.1	%

Gross profit margin decreased to 28.5% in the nine months ended September 30, 2017 compared to 30.1% for the nine months ended September 30, 2016, primarily due to higher raw material costs and operating inefficiencies, as well as restructuring costs of $7.0 million within the Material Handling Segment. These impacts were partially offset by higher pricing and a favorable sales mix.

Selling, General and Administrative Expenses:

	Nine Months Ended September 30,
(dollars in millions)	2017			2016			Change		% Change
SG&A expenses	$	105.6		$	103.1		$	2.5		2	%
SG&A expenses as a percentage of sales		24.7	%		24.1	%

SG&A expenses for the nine months ended September 30, 2017 were $105.6 million, an increase of $2.5 million or 2% compared to the same period in the prior year. SG&A expenses in the first nine months of 2017 were primarily impacted by higher severance, compensation and benefits of approximately $1.2 million and higher legal and professional fees of $1.3 million.  

Impairment Charges:

During the nine months ended September 30, 2017, the Company recorded an impairment charge of $0.5 million related to assets held for sale at its Scarborough, Ontario, Canada location, as discussed in Note 2.

The Company recorded $9.9 million of non-cash impairment charges, primarily related to its Plasticos Novel do Nordeste S.A. (“Novel”) reporting unit during the nine months ended September 30, 2016, as discussed in Note 2.

20

Restructuring:

As further discussed in Note 4, the Company initiated a restructuring plan in the first quarter of 2017 to improve the Company’s organizational structure and operational efficiency within the Material Handling Segment.  The Company has incurred a total of $7.1 million of restructuring costs in connection with the Plan during the nine months ended September 30, 2017, with additional costs under the Plan of approximately $0.8 million expected through the end of 2017.  The Company also recorded $4.1 million in gains on sales of assets in the nine months ended September 30, 2017 related to the closure and sale of the Bluffton, Indiana facility and certain related equipment.  

As previously announced, the Company expects to save approximately $10 million on an annual basis as a result of the actions under the Plan, a portion of which began being realized starting in the third quarter of 2017.  The Plan is to be substantially completed by the end of 2017.

Net Interest Expense:

	Nine Months Ended September 30,
(dollars in millions)	2017			2016			Change			% Change
Net interest expense	$	5.5		$	6.1		$	(0.6	)		(10	)%
Outstanding borrowings, net of deferred financing costs	$	158.0		$	197.9		$	(39.9	)		(20	)%
Average borrowing rate		5.05	%		4.61	%

Net interest expense for the nine months ended September 30, 2017 was $5.5 million compared to $6.1 million during the nine months ended September 30, 2016. The decrease in net interest expense is due to lower average outstanding borrowings during the nine months ended September 30, 2017 as compared to the same period in 2016, partially offset by a slightly higher borrowing rate.

Income Taxes:

	Nine Months Ended September 30,
(dollars in millions)	2017			2016
Income from continuing operations before income taxes	$	14.5		$	9.2
Income tax expense	$	6.1		$	6.4
Effective tax rate		42.0	%		69.8	%

The effective income tax rate for the nine months ended September 30, 2017 was different than the Company’s effective tax rate for the same period in 2016, primarily due to losses in jurisdictions where the tax benefits are not recognized, which included the impairment charges in Brazil in 2016.

Financial Condition & Liquidity and Capital Resources:

Operating Activities

Cash provided by operating activities from continuing operations was $36.1 million for the nine months ended September 30, 2017, compared to $18.6 million in the same period in 2016. The improvement was due to an increase in cash provided by working capital of $22.5 million, which resulted from a swing in the cash provided by (used for) accounts payable and accrued expenses.

Investing Activities

Cash provided by investing activities from continuing operations was $2.9 million for the nine months ended September 30, 2017 compared to cash used of $15.3 million for the nine months ended September 30, 2016. The Company paid a final working capital adjustment to the buyer of the Lawn and Garden business of approximately $4.0 million in the first quarter of 2016, as described in Note 3. The Company received proceeds of $8.1 million in the first nine months of 2017 from the sale of fixed assets, a significant portion of which was derived from the sale of the Company’s Bluffton, Indiana facility and related equipment as part of the Material Handling restructuring plan.  Capital expenditures were $5.1 million and $11.5 million for the nine months ended September 30, 2017 and 2016, respectively. Full year capital expenditures in 2017 are expected to be approximately $7 to $9 million.

21

Financing Activities

Net payments on the credit facility were $31.4 million for the nine months ended September 30, 2017 compared to net borrowings of $4.4 million for the nine months ended September 30, 2016. The Company used cash to pay dividends of $12.2 million and $12.1 million for the nine months ended September 30, 2017 and 2016, respectively.  

Credit Sources

In March 2017, the Company entered into a Fifth Amended and Restated Loan Agreement (the “Loan Agreement”).  The Loan Agreement replaced the pre-existing $300 million senior revolving credit facility with a $200 million facility and extended the term from December 2018 to March 2022.  In addition, the Loan Agreement provides for a maximum Leverage Ratio of 3.75 for the first and second quarters of 2017, stepping down to 3.5 in the third quarter of 2017, and 3.25 thereafter.

Total debt outstanding at September 30, 2017 was $158.0 million, net of $1.8 million of deferred financing costs, compared with $189.5 million at December 31, 2016. The Company’s Loan Agreement provides available borrowing up to $200 million, reduced for letters of credit issued. As of September 30, 2017, the Company had $4.4 million of letters of credit issued related to insurance and other financing contracts in the ordinary course of business and there was $135.8 million available under our Loan Agreement.

As of September 30, 2017, the Company was in compliance with all its debt covenants. The most restrictive financial covenants for all of the Company’s debt are an interest coverage ratio (defined as earnings before interest, taxes, depreciation and amortization, as adjusted, divided by interest expense) and a leverage ratio (defined as total debt divided by earnings before interest, taxes, depreciation and amortization, as adjusted). The ratios as of and for the period ended September 30, 2017 are shown in the following table:

	Required Level	Actual Level
Interest Coverage Ratio	3.00 to 1(minimum)		7.03
Leverage Ratio	3.50 to 1 (maximum)		2.58

In September 2017, the Company made an offer to all holders of the $100 million Senior Unsecured Notes (“Notes”) to purchase all or a portion of the Notes prior to their maturity dates. In October 2017, one note holder accepted the offer and elected to tender $22 million in Notes. The Company purchased the Notes from the holder on October 31, 2017 and a loss on extinguishment of debt of approximately $1.9 million was recorded during the fourth quarter of 2017.

The Company believes that cash flows from operations and available borrowing under its Loan Agreement will be sufficient to meet expected business requirements including capital expenditures, dividends, working capital, and debt service.

22

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The Company has certain financing arrangements that require interest payments based on floating interest rates. The Company’s financial results are subject to changes in the market rate of interest. At present, the Company has not entered into any interest rate swaps or other derivative instruments to fix the interest rate on any portion of its financing arrangements with floating rates. Accordingly, based on current debt levels at September 30, 2017, if market interest rates increase one percent, the Company’s interest expense would increase approximately $0.6 million annually.

Some of the Company’s subsidiaries operate in foreign countries and their financial results are subject to exchange rate movements. The Company has operations in Canada with foreign currency exposure, primarily due to sales made from businesses in Canada to customers in the United States (“U.S.”). These sales are denominated in U.S. dollars. The Company has a systematic program to limit its exposure to fluctuations in exchange rates related to certain assets and liabilities of its operations in Canada and Brazil that are denominated in U.S. dollars. The net exposure generally ranges from $2 million to $7 million. The foreign currency contracts and arrangements created under this program are not designated as hedged items under ASC 815, Derivatives and Hedging, and accordingly, the changes in the fair value of the foreign currency arrangements, which have been immaterial, are recorded in the statements of operations. The Company’s foreign currency arrangements are typically three months or less and are settled before the end of a reporting period. At September 30, 2017, the Company had no foreign currency arrangements or contracts in place.

The Company uses certain commodities, primarily plastic resins, in its manufacturing processes. The cost of operations can be affected as the market for these commodities changes. The Company currently has no derivative contracts to hedge this risk; however, the Company also has no significant purchase obligations to purchase fixed quantities of such commodities in future periods. Significant future increases in the cost of plastic resin or other adverse changes in the general economic environment could have a material adverse impact on the Company’s financial position, results of operations or cash flows.

23

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures, as defined under Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended, that are designed to ensure that information required to be disclosed in the Company’s reports under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure.

The Company carries out a variety of on-going procedures, under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, to evaluate the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based on the foregoing, the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of September 30, 2017.

Changes in Internal Control Over Financial Reporting

During the nine months ended September 30, 2017, there have been no changes in our internal control over financial reporting during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

24

PART II – Other Information

Item 1.Legal Proceedings

Certain legal proceedings in which the Company is involved are discussed in Note 10, Contingencies, in the Unaudited Condensed Consolidated Financial Statements in Part I of this report and Part I, Item 3 of the Company's Annual Report on Form 10-K for the year ended December 31, 2016. The Company is a defendant in various lawsuits and a party to various other legal proceedings, in the ordinary course of business, some of which are covered in whole or in part by insurance. We believe that the outcome of these lawsuits and other proceedings will not individually or in the aggregate have a future material adverse effect on our consolidated financial position, results of operations or cash flows.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On July 11, 2013, the Board authorized the repurchase of up to 5.0 million shares of its common stock. This authorization was in addition to the 2011 Board authorized repurchase of up to 5.0 million shares. The Company completed the repurchase of approximately 2.0 million shares in 2011 pursuant to Rule 10b5-1 plans, which were adopted pursuant to the 2011 authorized share repurchase. The Company has repurchased a total of 5,547,665 shares of its common stock under this program and as of September 30, 2017, 2,452,335 shares of common stock remain available for repurchase under the Board authorization. The Company did not repurchase any shares of its common stock during the three or nine months ended September 30, 2017.

Item 6. Exhibits

2(a)	Asset Purchase Agreement, dated as of May 30, 2014, among Scepter Corporation, SHI Properties Inc., CA Acquisition Inc., and Myers Industries, Inc. Reference is made to Exhibit 2.1 to Form 8-K filed with the Commission on July 7, 2014.**
2(b)	Unit Purchase Agreement, dated as of May 30, 2014, among Eco One Holdings, Inc., Crown US Acquisition Company, and Myers Industries, Inc. Reference is made to Exhibit 2.2 to Form 8-K filed with the Commission on July 7, 2014.**
2(c)	Indemnification Agreement, dated as of May 30, 2014 among Scepter Corporation, SHI Properties Inc., Eco One Holdings, Inc., Crown US Acquisition Company, and CA Acquisition Inc. Reference is made to Exhibit 2.3 to Form 8-K filed with the Commission on July 7, 2014.**
2(d)	First Amendment to the Asset Purchase Agreement, Unit Purchase Agreement and Indemnification Agreement, dated as of July 2, 2014, among Scepter Corporation, SHI Properties Inc., CA Acquisition Inc., Eco One Holdings, Inc., Crown US Acquisition Company, and Myers Industries, Inc. Reference is made to Exhibit 2.4 to Form 8-K filed with the Commission on July 7, 2014.**
2(e)	Amended and Restated Asset Purchase Agreement, dated as of February 17, 2015, among Myers Industries, Inc., MYE Canada Operations, Inc., and the HC Companies, Inc. Reference is made to Exhibit 2.1 to Form 8-K filed with the Commission on February 18, 2015.**
3(a)	Myers Industries, Inc. Amended and Restated Articles of Incorporation. Reference is made to Exhibit 3(a) to Form 10-K filed with the Commission on March 16, 2005.
3(b)	Myers Industries, Inc. Amended and Restated Code of Regulations. Reference is made to Exhibit 3.1 to Form 8-K filed with the Commission on April 12, 2013.
31.1	Certification of R. David Banyard, President and Chief Executive Officer of Myers Industries, Inc., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Matteo Anversa, Executive Vice President, Chief Financial Officer and Corporate Secretary of Myers Industries, Inc., pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certifications of R. David Banyard, President and Chief Executive Officer, and Matteo Anversa, Executive Vice President, Chief Financial Officer and Corporate Secretary, of Myers Industries, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	The following financial information from Myers Industries, Inc. Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2017, formatted in XBRL includes: (i) Condensed Consolidated Statements of Operations, (ii) Condensed Consolidated Statements of Comprehensive Income (Loss), (iii) Condensed Consolidated Statements of Financial Position, (iv) Condensed Consolidated Statement of Shareholders' Equity, (v) Condensed Consolidated Statements of Cash Flows and (vi) the Notes to Condensed Consolidated Financial Statements.

* Indicates executive compensation plan or arrangement.

** Pursuant to Item 601(b)(2) of Regulation S-K, certain exhibits and schedules have been omitted from this filing. The registrant agrees to furnish the Commission on a supplemental basis a copy of any omitted exhibit or schedule.

25

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	MYERS INDUSTRIES, INC.
November 7, 2017	/s/ Matteo Anversa
	Matteo Anversa
	Executive Vice President Chief Financial Officer and Corporate Secretary (Principal Financial Officer)
November 7, 2017	/s/ Kevin L. Brackman
	Kevin L. Brackman
	Vice President Chief Accounting Officer (Principal Accounting Officer)

26

EX-31.1

Exhibit 31.1

Certification Per Section 302 of the Sarbanes-Oxley Act of 2002

I, R. David Banyard, certify that:

1.  I have reviewed this quarterly report on Form 10-Q of Myers Industries, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f), for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 7, 2017	/s/ R. David Banyard
		R. David Banyard, President and Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification Per Section 302 of the Sarbanes-Oxley Act of 2002

I, Matteo Anversa, certify that:

1.  I have reviewed this quarterly report on Form 10-Q of Myers Industries, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f), for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 7, 2017	/s/ Matteo Anversa
		Matteo Anversa, Executive Vice President Chief Financial Officer and Corporate Secretary

EX-32.1

Exhibit 32.1

CERTIFICATION

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Myers Industries, Inc. (the Company) on Form 10-Q for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, R. David Banyard, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and to my knowledge:

(1) The Quarterly Report on Form 10-Q of the Company for the period ended September 30, 2017 which this certification accompanies fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated:	November 7, 2017	/s/ R. David Banyard
		R. David Banyard, President and Chief Executive Officer

Exhibit 32.1

CERTIFICATION

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Myers Industries, Inc. (the Company) on Form 10-Q for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Matteo Anversa, Executive Vice President, Chief Financial Officer and Corporate Secretary of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and to my knowledge:

(1) The Quarterly Report on Form 10-Q of the Company for the period ended September 30, 2017 which this certification accompanies fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated:	November 7, 2017	/s/ Matteo Anversa
		Matteo Anversa, Executive Vice President Chief Financial Officer and Corporate Secretary

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	MYERS INDUSTRIES INC
Entity Central Index Key	0000069488
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		30,438,041

XML

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 144,075	$ 132,676	$ 428,081	$ 427,998
Cost of sales	103,336	96,758	306,056	299,373
Gross profit	40,739	35,918	122,025	128,625
Selling, general and administrative expenses	36,391	32,617	105,560	103,087
(Gain) loss on disposal of fixed assets	(2,763)	315	(4,128)	383
Impairment charges	0	0	544	9,874
Operating income	7,111	2,986	20,049	15,281
Interest expense, net	1,785	2,015	5,545	6,087
Income from continuing operations before income taxes	5,326	971	14,504	9,194
Income tax expense	2,050	547	6,088	6,422
Income from continuing operations	3,276	424	8,416	2,772
Income (loss) from discontinued operations, net of income tax	(19)	(10)	(52)	(257)
Net income	$ 3,257	$ 414	$ 8,364	$ 2,515
Income per common share from continuing operations:
Basic	$ 0.11	$ 0.01	$ 0.28	$ 0.09
Diluted	0.11	0.01	0.28	0.09
Income (loss) per common share from discontinued operations:
Basic	0.00	0.00	0.00	(0.01)
Diluted	0.00	0.00	0.00	(0.01)
Net income per share:
Basic	0.11	0.01	0.28	0.08
Diluted	0.11	0.01	0.28	0.08
Dividends declared per share	$ 0.14	$ 0.14	$ 0.41	$ 0.41

XML

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 3,257	$ 414	$ 8,364	$ 2,515
Other comprehensive income (loss)
Foreign currency translation adjustment	2,380	(823)	3,491	6,009
Total other comprehensive income (loss)	2,380	(823)	3,491	6,009
Comprehensive income (loss)	$ 5,637	$ (409)	$ 11,855	$ 8,524

XML

Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash	$ 4,511	$ 7,888
Restricted cash	8,650	8,635
Accounts receivable, less allowances of $1,375 and $1,563, respectively	88,278	73,818
Inventories
Finished and in-process products	31,254	31,826
Raw materials and supplies	17,718	14,197
Inventory net	48,972	46,023
Prepaid expenses and other current assets	2,881	4,787
Total Current Assets	153,292	141,151
Other Assets
Goodwill	60,048	59,219
Intangible assets, net	42,377	47,994
Deferred income taxes	253	216
Notes receivable	18,632	18,275
Other	6,871	3,347
Total other non current assets	128,181	129,051
Property, Plant and Equipment, at Cost
Land	7,973	8,916
Buildings and leasehold improvements	59,925	65,566
Machinery and equipment	285,189	319,606
Property, Plant and Equipment, at cost	353,087	394,088
Less allowances for depreciation and amortization	(261,153)	(282,606)
Property, plant and equipment, net	91,934	111,482
Total Assets	373,407	381,684
Current Liabilities
Accounts payable	61,990	48,988
Accrued expenses
Employee compensation	17,921	11,861
Taxes, other than income taxes	2,185	2,178
Accrued interest	1,731	3,202
Other current liabilities	14,493	13,083
Total Current Liabilities	98,320	79,312
Long-term debt	158,010	189,522
Other liabilities	7,616	9,235
Deferred income taxes	11,729	10,582
Shareholders’ Equity
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	0	0
Common Shares, without par value (authorized 60,000,000 shares; outstanding 30,301,721 and 30,019,561; net of treasury shares of 7,650,736 and 7,932,896, respectively)	18,418	18,234
Additional paid-in capital	207,118	202,033
Accumulated other comprehensive loss	(30,683)	(34,174)
Retained deficit	(97,121)	(93,060)
Total Shareholders’ Equity	97,732	93,033
Total Liabilities and Shareholders’ Equity	$ 373,407	$ 381,684

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Condensed Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Allowances for accounts receivable	$ 1,375	$ 1,563
Shareholders’ Equity
Preferred Shares, shares authorized (in shares)	1,000,000	1,000,000
Preferred Shares, shares issued (in shares)	0	0
Preferred Shares, shares outstanding (in shares)	0	0
Common Shares, shares authorized (in shares)	60,000,000	60,000,000
Common Shares, shares outstanding (in shares)	30,301,721	30,019,561
Common shares, treasury (in shares)	7,650,736	7,932,896

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Condensed Consolidated Statement of Shareholders' Equity - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Deficit [Member]
Beginning balance at Dec. 31, 2016	$ 93,033	$ 18,234	$ 202,033	$ (34,174)	$ (93,060)
Stockholders' Equity [Roll Forward]
Net income	8,364	0	0	0	8,364
Foreign currency translation adjustment	3,491	0	0	3,491	0
Shares issued under incentive plans, net of shares withheld for tax	2,251	184	2,067	0	0
Stock compensation expense	3,018	0	3,018	0	0
Declared dividends - $0.41 per share	(12,425)	0	0	0	(12,425)
Ending balance at Sep. 30, 2017	$ 97,732	$ 18,418	$ 207,118	$ (30,683)	$ (97,121)

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Condensed Consolidated Statement of Shareholders' Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2017 $ / shares
Dividends declared per share (in dollars per share)	$ 0.41
Retained Deficit [Member]
Dividends declared per share (in dollars per share)	$ 0.41

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows From Operating Activities
Net income	$ 8,364	$ 2,515
Income (loss) from discontinued operations, net of income tax	(52)	(257)
Income from continuing operations	8,416	2,772
Adjustments to reconcile income from continuing operations to net cash provided by (used for) operating activities
Depreciation	16,758	18,465
Amortization	6,764	7,428
Accelerated depreciation associated with restructuring activities	2,018	0
Non-cash stock-based compensation expense	2,873	2,804
(Gain) loss on disposal of fixed assets	(4,128)	383
Deferred taxes	101	(1,985)
Accrued interest income on note receivable	(983)	(948)
Impairment charges	544	9,874
Other	29	(338)
Payments on performance based compensation	(1,010)	(1,794)
Other long-term liabilities	(140)	(431)
Cash flows provided by (used for) working capital
Accounts receivable	(12,754)	1,057
Inventories	(2,490)	7,349
Prepaid expenses and other current assets	1,696	484
Accounts payable and accrued expenses	18,416	(26,520)
Net cash provided by (used for) operating activities - continuing operations	36,110	18,600
Net cash provided by (used for) operating activities - discontinued operations	0	0
Net cash provided by (used for) operating activities	36,110	18,600
Cash Flows From Investing Activities
Capital expenditures	(5,128)	(11,490)
Proceeds from sale of property, plant and equipment	8,075	194
Proceeds (payments) related to sale of business	0	(4,034)
Net cash provided by (used for) investing activities - continuing operations	2,947	(15,330)
Net cash provided by (used for) investing activities - discontinued operations	0	0
Net cash provided by (used for) investing activities	2,947	(15,330)
Cash Flows From Financing Activities
Net borrowings (repayments) on credit facility	(31,397)	4,440
Cash dividends paid	(12,230)	(12,143)
Proceeds from issuance of common stock	2,524	2,582
Excess tax benefit from stock-based compensation	0	139
Shares withheld for employee taxes on equity awards	(273)	(925)
Deferred financing costs	(1,030)	0
Net cash provided by (used for) financing activities - continuing operations	(42,406)	(5,907)
Net cash provided by (used for) financing activities - discontinued operations	0	0
Net cash provided by (used for) financing activities	(42,406)	(5,907)
Foreign exchange rate effect on cash	(28)	831
Net increase (decrease) in cash	(3,377)	(1,806)
Cash at January 1	7,888	7,344
Cash at September 30	$ 4,511	$ 5,538

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Significant Accounting Policies

1.  Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2016.

Certain reclassifications have been made to prior year’s reported amounts in order to conform to the current year presentation.

In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of September 30, 2017, and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2017.

Accounting Standards Adopted

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting, which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company adopted this ASU effective January 1, 2017 and elected to recognize forfeitures as they occur. The cash flow classification requirements of ASU 2016-09 were applied prospectively. The adoption of this ASU did not have a material impact on the Company’s results of operations, cash flows or financial position.

Accounting Standards Not Yet Adopted

In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  This ASU requires that an employer report the service cost component in the same line item(s) as other compensation costs arising from services rendered by the pertinent employees during the period.  The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented.  The ASU also allows only the service cost component to be eligible for capitalization when applicable. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods.  The ASU should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets.  The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements as the pension plan is frozen.

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.  This ASU eliminates Step 2 of the goodwill impairment test and requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of its goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019.  The guidance allows for early adoption for impairment testing dates after January 1, 2017.  While the Company has elected not to early adopt this guidance for fiscal year 2017 and will continue to evaluate the timing of adoption, it does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash. This ASU requires that companies include amounts generally described as restricted cash and restricted cash equivalents, along with cash and cash equivalents, when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows.  The ASU should be applied using a retrospective transition method to each period presented and is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. To the extent there are changes in the Company’s restricted cash balances, adoption of this standard will impact the statement of cash flows.

In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740). This ASU requires immediate recognition of the income tax consequences of intercompany asset transfers other than inventory. The ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments, which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows.  The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows.  This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted.  The Company does not anticipate that adoption of this standard will have a significant impact on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which introduces new guidance for theaccounting for credit losses on instruments.  The new guidance introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2019 including interim periods within that reporting period, with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The new standard is effective for the Company beginning January 1, 2019 and requires a modified retrospective approach. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles used to recognize revenue for all entities. Under ASU 2014-09, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. Additional disclosures will also be required to help users of financial statements understand the nature, amount, and timing of revenue and cash flows arising from contracts. The new guidance is effective January 1, 2018, with early adoption permitted for January 1, 2017. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statements of Shareholders’ Equity. The Company plans to adopt the new guidance effective January 1, 2018 under the modified retrospective approach and has developed an implementation plan. As part of this plan, the Company has identified its revenue streams and substantially completed its contract review for each of these revenue streams to assess the impact of the new guidance on its consolidated financial statements. This assessment included the potential impact of whether revenue from certain product lines would be required to be recognized over time rather than at a point in time. Based on the reviews completed to date, the Company does not currently anticipate any material changes to the timing of revenue recognition from point in time, and will continue to evaluate this contract review through the date of adoption. The Company is currently designing and implementing changes to processes and controls, where necessary, to address the requirements of the new standard upon adoption. In addition, the Company is assessing what incremental disaggregated revenue disclosures will be required in the consolidated financial statements.

Translation of Foreign Currencies

All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders' equity.

Fair Value Measurement

The Company follows guidance included in the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, as required. The guidance established a common definition for fair value to be applied under U.S. GAAP requiring the use of fair value, established a framework for measuring fair value, and expanded disclosure requirements about such fair value measurements. The guidance did not require any new fair value measurements, but rather applied to all other accounting pronouncements that require or permit fair value measurements. Under ASC 820, the hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly.

Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions.

The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximate carrying value due to the nature and relative short maturity of these assets and liabilities.

The fair value of debt under the Company’s Loan Agreement, as defined in Note 11, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements which are considered Level 2 inputs. At September 30, 2017 and December 31, 2016, the aggregate fair value of the Company's $100.0 million fixed rate senior unsecured notes was estimated at $101.0 million and $98.0 million, respectively.

Factoring

The Company's wholly-owned subsidiaries Plasticos Novel Do Nordeste S.A. and Plasticos Novel Do Parana S.A. (collectively, "Novel") entered into a factoring agreement to sell, without recourse, certain of their Brazilian Real-based trade accounts receivables to unrelated third party financial institutions as part of its working capital management. The sale of these receivables accelerated the collection of cash and reduced credit exposure. Under the terms of the factoring agreements, the Company retains no rights or interest and has no obligations with respect to the sold receivables. As such, the factoring of trade receivables under these agreements are accounted for as a sale. The Company accounts for its trade receivable factoring program as required under ASC 860, Transfers and Servicing. During the nine months ended September 30, 2017, approximately $1.3 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $1.2 million. During the nine months ended September 30, 2016, approximately $0.9 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $0.8 million. The receivables sold pursuant to the factoring agreements have been recorded as a reduction of trade accounts receivable and as cash provided by operating activities in the accompanying Condensed Consolidated Statements of Cash Flows (Unaudited). The Company pays an administrative fee based on the dollar value of the receivables sold. Administrative fees related to the program for both the nine months ended September 30, 2017 and 2016 were approximately $0.1 million. These fees are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited).

Revenue Recognition

The Company recognizes revenues from the sale of products, net of actual and estimated returns, at the point of passage of title and risk of loss, which is generally at time of shipment, and collectability of the fixed or determinable sales price is reasonably assured.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

	Foreign Currency			Defined Benefit Pension Plans			Total
Balance at January 1, 2017	$	(32,342	)	$	(1,832	)	$	(34,174	)
Other comprehensive income before reclassifications		3,491			—			3,491
Net current-period other comprehensive income		3,491			—			3,491
Balance at September 30, 2017	$	(28,851	)	$	(1,832	)	$	(30,683	)

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. The Company maintains operating cash and reserves for replacement balances in financial institutions which, from time to time, may exceed federally insured limits. The Company periodically assesses the financial condition of these institutions and believes that the risk of loss is minimal.

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Impairment Charges

9 Months Ended

Sep. 30, 2017

Asset Impairment Charges [Abstract]

Impairment Charges

2.  Impairment Charges

During the second quarter of 2017, an underutilized building at the Company’s Scarborough, Ontario, Canada location, in the Material Handling Segment, was identified for closure and classified as held for sale as of June 30, 2017, in Other Assets in the Condensed Consolidated Statements of Financial Position (Unaudited). This building has been recorded at its fair value, less estimated costs to sell, of $3.2 million (based primarily on a third party offer considered to be a Level 2 input), which resulted in an impairment charge of approximately $0.5 million recognized in the second quarter of 2017. No changes in the estimated fair value were recorded in the quarter ended September 30, 2017.

During the first quarter of 2016, the Company reviewed its long-lived assets, intangible assets and goodwill at Plasticos Novel do Nordeste S.A. (“Novel”), a reporting unit within the Material Handling Segment for impairment. The testing for impairment was performed as a result of the presence of impairment indictors resulting from the communication of a reduction in capital spending in the near-term from a significant customer in March 2016, which resulted in a significant reduction in Novel’s forecasted revenue and income.

The Company first conducted a review for impairment of indefinite-lived intangibles and other long-lived assets related to Novel, including amortizable intangible assets and fixed assets which indicated that the carrying amounts of such assets may not be recoverable and required an assessment of fair value of the assets for purposes of measuring an impairment charge. The estimated fair value of indefinite-lived intangibles was determined using a relief from royalty payments income approach and the other long-lived assets was determined, in part, using an analysis of projected cash flows, a market approach and a cost approach. These valuation methods use Level 3 inputs under the fair value hierarchy discussed in Note 1.

To test for potential impairment for goodwill, the Company performed an interim impairment test as of March 31, 2016. The step one goodwill impairment test was performed using a discounted cash flow (“DCF”) valuation model. The significant assumptions in the DCF model are the annual revenue growth rate, the annual operating income margin and the discount rate used to determine the present value of the cash flow projections. The discount rate was based on the estimated weighted average cost of capital as of the testing date for market participants in the industry in which the Novel reporting unit operates. Based on the estimated fair value generated by the DCF model, the Novel reporting unit’s fair value did not exceed its carrying value as of March 31, 2016 and therefore a step two analysis was required to be performed. The decline in fair value of the reporting unit resulted primarily from lower projected operating results and cash flows than those utilized from the 2015 annual impairment test, directly related to the triggering event outlined above. During the first quarter of 2016, a step two analysis was performed to allocate estimated fair value to assets and liabilities in order to estimate an implied value of goodwill.  As a result of these impairment reviews, the Company concluded that the goodwill, intangibles and other long-lived assets related to Novel were impaired and recorded a non-cash impairment charge of $8.5 million, which was reported in Impairment Charges in the Condensed Consolidated Statements of Operations (Unaudited) in the first half of 2016.  

During the second quarter of 2016, the Company recorded impairment charges of $1.3 million primarily related to long-lived assets associated with the exit of a non-strategic product line in the Material Handling Segment.

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Discontinued Operations

9 Months Ended

Sep. 30, 2017

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

3.  Discontinued Operations

On February 17, 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners V, L.P., a private equity firm, for $110.0 million, subject to a working capital adjustment. The terms of the agreement include a $90.0 million cash payment, promissory notes totaling $20.0 million that mature in August 2020 with a 6% interest rate, and approximately $8.6 million placed in escrow that was due to be settled by August 2016, but has been extended until indemnification claims are resolved, as described in Note 10.  The fair market value of the notes at the date of the sale was $17.8 million. The carrying value of the notes as of September 30, 2017 was $18.6 million, which represents the fair value at the date of sale plus accretion and is included in Notes Receivable in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited). The fair value of the notes receivable was calculated using Level 2 inputs as defined in Note 1. The final working capital adjustment resulted in a cash payment to the buyer of approximately $4.0 million in the first half of 2016.

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Restructuring

9 Months Ended

Sep. 30, 2017

Restructuring And Related Activities [Abstract]

Restructuring

4.  Restructuring

On March 9, 2017, the Company announced a restructuring plan (the “Plan”) to improve the Company’s organizational structure and operational efficiency within the Material Handling Segment, which related primarily to anticipated facility shutdowns and associated activities.  Total restructuring costs expected to be incurred are approximately $7.9 million, which includes employee severance and other employee-related costs of approximately $3.2 million, $2.6 million related to equipment relocation and facility shut down costs and non-cash charges, primarily accelerated depreciation charges on property, plant and equipment, of approximately $2.1 million.  The Company expects to incur approximately $0.8 million during the remainder of 2017 under the Plan, as all remaining actions under the Plan are expected to be substantially completed by the end of the year.

During the three and nine months ended September 30, 2017, the Company incurred restructuring charges of $1.0 million and $5.2 million, respectively, related to closing a manufacturing plant in Bluffton, Indiana. In the third quarter of 2017, the Bluffton facility and certain related equipment, previously classified as held for sale, were sold for approximately $6.0 million, which resulted in a gain of $2.6 million. Additional gains of $0.2 million and $1.5 million for the three and nine months ended September 30, 2017, respectively, were recognized on other asset dispositions in connection with closing this plant.  

In the second quarter of 2017, the Company finalized the specific actions to be taken under the Plan to reduce headcount in its Scarborough, Ontario, Canada location.  These actions resulted in the recognition of $0.9 million and $1.6 million of severance and related costs for the three and nine months ended September 30, 2017, respectively.

During the three and nine months ended September 30, 2017, the Company recognized $0.2 million and $0.3 million of restructuring charges related to the planned closure of a manufacturing plant in Sandusky, Ohio.

The restructuring charges noted above are presented in the Condensed Consolidated Statement of Operations (Unaudited) as follows:

	For the Three Months Ended September 30, 2017		For the Nine Months Ended September 30, 2017
Cost of sales	$	1,908	$	6,968
Selling, general and administrative expenses		164		164
	$	2,072	$	7,132

The table below summarizes restructuring activity for the nine months ended September 30, 2017:

	Employee Reduction			Accelerated Depreciation			Other Exit Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—		$	—
Charges to expense		2,868			2,018			2,246			7,132
Cash payments		(773	)		—			(1,929	)		(2,702	)
Non-cash utilization		—			(2,018	)		—			(2,018	)
Balance at September 30, 2017	$	2,095		$	—		$	317		$	2,412

In addition to the restructuring costs noted above, the Company has also incurred other associated costs of the Plan of $0.3 million and $1.0 million for the three and nine months ended September 30, 2017, respectively, which are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited), and are primarily related to third party consulting costs.  Additional estimated costs of $0.2 million are expected to be incurred throughout the remainder of 2017.

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Inventories

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Inventories

5.  Inventories

Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 40 percent of our inventories are valued using the LIFO method of determining cost. All other inventories are valued at the FIFO method of determining cost. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management’s estimates of expected year-end inventory levels and costs. Because these are based on estimates, interim results are subject to change in the final year-end LIFO inventory valuation. In the current quarter, one inventory pool had an increase in commodity costs that is expected to hold through year-end, and therefore, an adjustment of $0.4 million was made to increase the LIFO reserve and cost of sales for the three months ended September 30, 2017. No adjustment was recorded during prior interim reporting periods as interim results in those periods were immaterial.

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Other Current Liabilities

9 Months Ended

Sep. 30, 2017

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

6.  Other Current Liabilities

The balance in other current liabilities is comprised of the following:

	September 30,		December 31,
	2017		2016
Deposits and amounts due to customers	$	4,048	$	2,688
Dividends payable		4,455		4,260
Accrued litigation and professional fees		606		452
Current portion of environmental reserves		1,022		605
Other accrued expenses		4,362		5,078
	$	14,493	$	13,083

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Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7.  Goodwill and Intangible Assets

The change in goodwill for the nine months ended September 30, 2017 was as follows:

	Distribution		Material Handling		Total
January 1, 2017	$	505	$	58,714	$	59,219
Foreign currency translation		—		829		829
September 30, 2017	$	505	$	59,543	$	60,048

Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated useful lives. The Company has indefinite-lived trade names which had a carrying value of $10.9 million at both September 30, 2017 and December 31, 2016.

See Note 2 for discussion of goodwill, trade names and other long-lived asset impairment charges in the first half of 2016.

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Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Net Income (Loss) per Common Share

8.  Net Income (Loss) per Common Share

Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Weighted average common shares outstanding basic		30,266,838		29,849,005		30,149,818		29,682,798
Dilutive effect of stock options and restricted stock		385,105		226,473		374,343		266,913
Weighted average common shares outstanding diluted		30,651,943		30,075,478		30,524,161		29,949,711

Options to purchase 256,600 and 261,100 shares of common stock that were outstanding for the three and nine months ended September 30, 2017, respectively, and 569,050 for the three and nine months ended September 30, 2016, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive.

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Stock Compensation

9 Months Ended

Sep. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Compensation

9.  Stock Compensation

Subject to shareholder approval, which was received on April 26, 2017, the Board of Directors approved the Company’s Amended and Restated 2017 Incentive Stock Plan (the “2017 Plan”) on March 2, 2017. The 2017 Plan authorizes the Compensation Committee of the Board of Directors to issue up to 5,126,950 shares of various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. Options granted and outstanding vest over the requisite service period and expire ten years from the date of grant.

In March 2017, the Company granted 397,759 stock options with a weighted average exercise price of $14.30 and a weighted average fair value of $4.47. The fair value of options granted is estimated using a binomial lattice option pricing model. Also in March 2017, the Company granted 87,887 and 140,746 time-based and performance-based restricted stock units, respectively, with a weighted average fair value of $14.30. There were no stock-based awards granted in the second or third quarters of 2017.

Stock compensation expense was approximately $1.1 million and $0.7 million for the three months ended September 30, 2017 and 2016, respectively, and $2.9 million and $2.8 million for the nine months ended September 30, 2017 and 2016, respectively. These expenses are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited). Total unrecognized compensation cost related to non-vested stock-based compensation arrangements at September 30, 2017 was approximately $6.5 million, which will be recognized over the next three years, as such compensation is earned.

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Contingencies

9 Months Ended

Sep. 30, 2017

Commitments And Contingencies Disclosure [Abstract]

Contingencies

10.  Contingencies

The Company is a defendant in various lawsuits and a party to various other legal proceedings, in the ordinary course of business, some of which are covered in whole or in part by insurance.

New Idria Mercury Mine

In September 2015, the U.S. Environmental Protection Agency (“EPA”) formally informed a subsidiary of the Company, Buckhorn, Inc. (“Buckhorn”) via a notice letter and related documents (the “Notice Letter”) that it considers Buckhorn to be a potentially responsible party (“PRP”) in connection with the New Idria Mercury Mine site (“New Idria Mine”).  New Idria Mining & Chemical Company (“NIMCC”), which owned and/or operated the New Idria Mine through 1976 was merged into Buckhorn Metal Products Inc. in 1981, which was subsequently acquired by Myers Industries in 1987.  As a result of the EPA Notice Letter, Buckhorn and the Company are engaged in negotiations with the EPA with respect to a draft Administrative Order of Consent (“AOC”) proposed by the EPA for the Remedial Investigation/Feasibility Study (“RI/FS”) to determine the extent of remediation necessary and the screening of alternatives.

The New Idria Mine is located near Hollister, California and was added to the Superfund National Priorities List by the EPA in October 2011, at which time the Company recognized expense of $1.9 million related to performing the RI/FS.   In the second quarter of 2016, the Company, based on discussions with the EPA, determined that the RI/FS would begin in 2017 and therefore obtained updated estimated costs to perform the RI/FS.  As a result of the updated estimated costs, the Company recorded additional expense of $1.0 million in the second quarter of 2016.  In the second quarter of 2017, the Company, based on the status of its discussions with the EPA, determined that field work on the RI/FS will likely begin in 2018 with no changes to the cost estimates to perform the RI/FS. In the third quarter of 2017, the Company recorded an additional reserve of $0.3 million for this project, as a result of additional professional fees and other project costs expected to be incurred as part of the implementation of the AOC and site preparation and stabilization, in advance of starting the RI/FS field work in 2018.  As part of the Notice Letter, the EPA also made a claim for approximately $1.6 million in past costs for actions it claims it has taken in connection with the New Idria Mine since 1993.  While the Company is challenging these past cost claims, in 2015 the Company recognized expense of $1.3 million related to the portion of these costs alleged to have been incurred after the site was added to the Superfund list in 2011.  

As of September 30, 2017, the Company has a total reserve of $2.7 million related to the New Idria Mine, of which $0.7 million is classified in Other Current Liabilities and $2.0 million is classified in Other Liabilities on the Condensed Consolidated Statements of Financial Position (Unaudited).

As negotiations with the EPA proceed it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. Estimates of the Company’s liability are based on current facts, laws, regulations and technology. Estimates of the Company’s environmental liabilities are further subject to uncertainties regarding the negotiations with EPA, the nature and extent of site contamination, the range of remediation alternatives available, evolving remediation standards, imprecise engineering evaluation and cost estimates, the extent of remedial actions that may be required, the number and financial condition of other PRPs that may be named as well as the extent of their responsibility for the remediation, and the availability of insurance coverage for these expenses.

At this time, we have not accrued for remediation costs in connection with this site as we are unable to estimate the liability, given the circumstances referred to above, including the fact that the final remediation strategy has not yet been determined.

New Almaden Mine

A number of parties, including the Company and its subsidiary, Buckhorn (as successor to NIMCC), were alleged by trustee agencies of the United States and the State of California to be responsible for natural resource damages due to environmental contamination of areas comprising the historical New Almaden mercury mines located in the Guadalupe River Watershed region in Santa Clara County, California (“County”). In 2005, Buckhorn and the Company, without admitting liability or chain of ownership of NIMCC, resolved the trustees’ claim against them through a consent decree that required them to contribute financially to the implementation by the County of an environmentally beneficial project within the impacted area.  Buckhorn and the Company negotiated an agreement with the County, whereby Buckhorn and the Company agreed to reimburse one-half of the County’s costs of implementing the project, originally estimated to be approximately $1.6 million. As a result, in 2005, the Company recognized expense of $0.8 million representing its share of the initial estimated project costs, of which approximately $0.5 million has been paid to date. In April 2016, the Company was notified by the County that the original cost estimate may no longer be appropriate due to expanded scope and increased costs of construction and provided a revised estimate of between $3.3 million and $4.4 million.  The Company completed a detailed review of the support provided by the County for the revised estimate, and as a result, recognized additional expense of $1.2 million in the second and third quarters of 2016.  As of September 30, 2017, the Company has a total reserve of $1.5 million related to the New Almaden Mine, of which $0.3 million is classified in Other Current Liabilities and $1.2 million is classified in Other Liabilities on the Condensed Consolidated Statements of Financial Position (Unaudited).  

The project has not yet been implemented though significant work on design and planning has been performed. Field work on the project is expected to commence in 2018.  As work on the project occurs, it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information.  In addition, the Company may have claims against and defenses to claims by the County under the 2005 agreement that could reduce or offset its obligation for reimbursement of some of these potential additional costs. With the assistance of environmental consultants, the Company will closely monitor this matter and will continue to assess its reserves as additional information becomes available.

Lawn and Garden Indemnification Claim

In connection with the sale of the Lawn and Garden business, as described in Note 3, the Company received a Notice of Indemnification Claims in April 2015, and a Second Notice of Indemnification Claims in July 2016 (collectively, the “Claims”), alleging breaches of certain representations and warranties under the agreement resulting in losses in the amount of approximately $10 million. As described in Note 3, approximately $8.6 million of the sale proceeds were placed in escrow and due to be settled in August 2016, but have been extended until the Claims are resolved. The Company believes these Claims are without merit and intends to vigorously defend its position.

When a loss arising from these matters is probable and can reasonably be estimated, we record the amount of the estimated loss, or the minimum estimated liability when the loss is estimated using a range, and no point within the range is more probable of occurrence than another. As additional information becomes available, any potential liability related to these matters will be assessed and the estimates will be revised, if necessary.

Based on current available information, management believes that the ultimate outcome of these matters will not have a material adverse effect on our financial position, cash flows or overall trends in our results of operations. However, these matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which the ruling occurs, or in future periods.

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Long-Term Debt and Loan Agreements

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Long-Term Debt and Loan Agreements

11.  Long-Term Debt and Loan Agreements

Long-term debt consisted of the following:

	September 30,		December 31,
	2017		2016
Loan Agreement	$	59,795	$	90,686
4.67% Senior Unsecured Notes due 2021		40,000		40,000
5.25% Senior Unsecured Notes due 2024		11,000		11,000
5.30% Senior Unsecured Notes due 2024		29,000		29,000
5.45% Senior Unsecured Notes due 2026		20,000		20,000
		159,795		190,686
Less unamortized deferred financing costs		1,785		1,164
	$	158,010	$	189,522

In March 2017, the Company entered into a Fifth Amended and Restated Loan Agreement (the “Loan Agreement”).  The Loan Agreement replaced the pre-existing $300 million senior revolving credit facility with a $200 million facility and extended the term from December 2018 to March 2022.  In addition, the Loan Agreement provides for a maximum Leverage Ratio of 3.75 for the first and second quarters of 2017, stepping down to 3.5 in the third quarter of 2017, and 3.25 thereafter.

Under the terms of the Loan Agreement, the Company may borrow up to $200.0 million, reduced for letters of credit issued. As of September 30, 2017, the Company had $135.8 million available under the Loan Agreement. The Company had $4.4 million of letters of credit issued related to insurance and other financing contracts in the ordinary course of business at September 30, 2017. Borrowings under the Loan Agreement bear interest at the LIBOR rate, prime rate, federal funds effective rate, the Canadian deposit offered rate, or the euro currency reference rate depending on the type of loan requested by the Company, plus the applicable margin as set forth in the Loan Agreement. The average interest rate on borrowings under our loan agreements were 5.18% and 4.65% for the three months ended September 30, 2017 and 2016, respectively, and 5.05% and 4.61% for the nine months ended September 30, 2017 and 2016, respectively, which includes a quarterly facility fee on the used and unused portion.

In September 2017, the Company made an offer to all holders of the $100 million Senior Unsecured Notes (“Notes”) to purchase all or a portion of the Notes prior to their maturity dates. In October 2017, one note holder accepted the offer and elected to tender $22 million in Notes. The Company purchased the Notes from the holder on October 31, 2017 and a loss on extinguishment of debt of approximately $1.9 million was recorded during the fourth quarter of 2017.

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Retirement Plans

9 Months Ended

Sep. 30, 2017

Compensation And Retirement Disclosure [Abstract]

Retirement Plans

12.  Retirement Plans

The Company and certain of its subsidiaries have pension and profit sharing plans covering substantially all of their employees. The Company’s defined benefit pension plan, The Pension Agreement between Akro-Mils and United Steelworkers of America Local No. 1761-02, provides benefits primarily based upon a fixed amount for each year of service. The plan was frozen in 2007, and thus benefits for service were no longer accumulated after this date.

Net periodic pension cost is as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Interest cost	$	63		$	68		$	189		$	204
Expected return on assets		(74	)		(80	)		(222	)		(240	)
Amortization of net loss		24			20			72			61
Net periodic pension cost	$	13		$	8		$	39		$	25
Company contributions	$	—		$	—		$	—		$	—

The Company does not expect to make a contribution to the plan in 2017.

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Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

13.  Income Taxes

The Company’s effective tax rate was 38.5% and 42.0% for the three and nine months ended September 30, 2017, respectively, compared to 56.3% and 69.8% for the three and nine months ended September 30, 2016, respectively.  The effective income tax rate for the first nine months of 2017 and 2016 was different than the Company’s statutory rate, primarily due to losses in jurisdictions where the tax benefits are not recognized.   

The total amount of gross unrecognized tax benefits that would reduce the Company’s effective tax rate was $0.3 million and $0.5 million at September 30, 2017 and December 31, 2016, respectively.

The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of September 30, 2017, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2014. The Company is subject to state and local examinations for tax years of 2012 through 2016. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2012 through 2016.

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Industry Segments

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Industry Segments

14.  Industry Segments

Using the criteria of ASC 280, Segment Reporting, the Company manages its business under two operating segments, Material Handling and Distribution, consistent with the manner in which our Chief Operating Decision Maker (“CODM”) evaluates performance and makes resource allocation decisions. None of the reportable segments include operating segments that have been aggregated.  These segments contain individual business components that have been combined on the basis of common management, customers, products, production processes and other economic characteristics. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up.

The Material Handling Segment manufactures a broad selection of plastic reusable containers, pallets, small parts bins, bulk shipping containers, storage and organization products and rotationally-molded plastic tanks for water, fuel and waste handling. This segment conducts its primary operations in the United States, but also operates in Brazil and Canada. Markets served encompass various niches of industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer, and others. Products are sold both directly to end-users and through distributors.

The Distribution Segment is engaged in the distribution of equipment, tools, and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products. The product line includes categories such as tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment and tools, and tire repair/retread supplies. The Distribution Segment operates domestically through sales offices, and four regional distribution centers in the United States and in foreign countries through export sales. In addition, the Distribution Segment operates directly in certain foreign markets, principally Central America, through foreign branch operations. Markets served include retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire retreaders, and government agencies.

Summarized segment detail for the three and nine months ended September 30, 2017 and 2016 are presented in the following table:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Net Sales
Material Handling	$	104,089		$	89,911		$	310,343		$	299,842
Distribution		40,004			42,793			117,836			128,248
Inter-company sales		(18	)		(28	)		(98	)		(92	)
Total net sales	$	144,075		$	132,676		$	428,081		$	427,998

Income (loss) from continuing operations before income taxes
Material Handling	$	10,325		$	4,378		$	29,839		$	26,152
Distribution		3,179			3,301			7,742			9,803
Corporate		(6,393	)		(4,693	)		(17,532	)		(20,674	)
Total operating income		7,111			2,986			20,049			15,281
Interest expense, net		(1,785	)		(2,015	)		(5,545	)		(6,087	)
Income from continuing operations before income taxes	$	5,326		$	971		$	14,504		$	9,194

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2016.

Certain reclassifications have been made to prior year’s reported amounts in order to conform to the current year presentation.

In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of September 30, 2017, and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2017.

Recent Accounting Pronouncements

Accounting Standards Adopted

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting, which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company adopted this ASU effective January 1, 2017 and elected to recognize forfeitures as they occur. The cash flow classification requirements of ASU 2016-09 were applied prospectively. The adoption of this ASU did not have a material impact on the Company’s results of operations, cash flows or financial position.

Accounting Standards Not Yet Adopted

In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  This ASU requires that an employer report the service cost component in the same line item(s) as other compensation costs arising from services rendered by the pertinent employees during the period.  The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented.  The ASU also allows only the service cost component to be eligible for capitalization when applicable. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods.  The ASU should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets.  The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements as the pension plan is frozen.

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.  This ASU eliminates Step 2 of the goodwill impairment test and requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of its goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019.  The guidance allows for early adoption for impairment testing dates after January 1, 2017.  While the Company has elected not to early adopt this guidance for fiscal year 2017 and will continue to evaluate the timing of adoption, it does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash. This ASU requires that companies include amounts generally described as restricted cash and restricted cash equivalents, along with cash and cash equivalents, when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows.  The ASU should be applied using a retrospective transition method to each period presented and is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. To the extent there are changes in the Company’s restricted cash balances, adoption of this standard will impact the statement of cash flows.

In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740). This ASU requires immediate recognition of the income tax consequences of intercompany asset transfers other than inventory. The ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments, which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows.  The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows.  This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, with early adoption permitted.  The Company does not anticipate that adoption of this standard will have a significant impact on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which introduces new guidance for theaccounting for credit losses on instruments.  The new guidance introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2019 including interim periods within that reporting period, with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The new standard is effective for the Company beginning January 1, 2019 and requires a modified retrospective approach. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles used to recognize revenue for all entities. Under ASU 2014-09, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. Additional disclosures will also be required to help users of financial statements understand the nature, amount, and timing of revenue and cash flows arising from contracts. The new guidance is effective January 1, 2018, with early adoption permitted for January 1, 2017. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statements of Shareholders’ Equity. The Company plans to adopt the new guidance effective January 1, 2018 under the modified retrospective approach and has developed an implementation plan. As part of this plan, the Company has identified its revenue streams and substantially completed its contract review for each of these revenue streams to assess the impact of the new guidance on its consolidated financial statements. This assessment included the potential impact of whether revenue from certain product lines would be required to be recognized over time rather than at a point in time. Based on the reviews completed to date, the Company does not currently anticipate any material changes to the timing of revenue recognition from point in time, and will continue to evaluate this contract review through the date of adoption. The Company is currently designing and implementing changes to processes and controls, where necessary, to address the requirements of the new standard upon adoption. In addition, the Company is assessing what incremental disaggregated revenue disclosures will be required in the consolidated financial statements.

Translation of Foreign Currencies

Translation of Foreign Currencies

All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders' equity.

Fair Value Measurement

Fair Value Measurement

The Company follows guidance included in the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, as required. The guidance established a common definition for fair value to be applied under U.S. GAAP requiring the use of fair value, established a framework for measuring fair value, and expanded disclosure requirements about such fair value measurements. The guidance did not require any new fair value measurements, but rather applied to all other accounting pronouncements that require or permit fair value measurements. Under ASC 820, the hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly.

Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions.

The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximate carrying value due to the nature and relative short maturity of these assets and liabilities.

The fair value of debt under the Company’s Loan Agreement, as defined in Note 11, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements which are considered Level 2 inputs. At September 30, 2017 and December 31, 2016, the aggregate fair value of the Company's $100.0 million fixed rate senior unsecured notes was estimated at $101.0 million and $98.0 million, respectively.

Factoring

Factoring

The Company's wholly-owned subsidiaries Plasticos Novel Do Nordeste S.A. and Plasticos Novel Do Parana S.A. (collectively, "Novel") entered into a factoring agreement to sell, without recourse, certain of their Brazilian Real-based trade accounts receivables to unrelated third party financial institutions as part of its working capital management. The sale of these receivables accelerated the collection of cash and reduced credit exposure. Under the terms of the factoring agreements, the Company retains no rights or interest and has no obligations with respect to the sold receivables. As such, the factoring of trade receivables under these agreements are accounted for as a sale. The Company accounts for its trade receivable factoring program as required under ASC 860, Transfers and Servicing. During the nine months ended September 30, 2017, approximately $1.3 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $1.2 million. During the nine months ended September 30, 2016, approximately $0.9 million of trade accounts receivables had been sold under the terms of the factoring agreement for cash proceeds of $0.8 million. The receivables sold pursuant to the factoring agreements have been recorded as a reduction of trade accounts receivable and as cash provided by operating activities in the accompanying Condensed Consolidated Statements of Cash Flows (Unaudited). The Company pays an administrative fee based on the dollar value of the receivables sold. Administrative fees related to the program for both the nine months ended September 30, 2017 and 2016 were approximately $0.1 million. These fees are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited).

Revenue Recognition

Revenue Recognition

The Company recognizes revenues from the sale of products, net of actual and estimated returns, at the point of passage of title and risk of loss, which is generally at time of shipment, and collectability of the fixed or determinable sales price is reasonably assured.

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

	Foreign Currency			Defined Benefit Pension Plans			Total
Balance at January 1, 2017	$	(32,342	)	$	(1,832	)	$	(34,174	)
Other comprehensive income before reclassifications		3,491			—			3,491
Net current-period other comprehensive income		3,491			—			3,491
Balance at September 30, 2017	$	(28,851	)	$	(1,832	)	$	(30,683	)

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. The Company maintains operating cash and reserves for replacement balances in financial institutions which, from time to time, may exceed federally insured limits. The Company periodically assesses the financial condition of these institutions and believes that the risk of loss is minimal.

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

The balances in the Company's accumulated other comprehensive income (loss)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

	Foreign Currency			Defined Benefit Pension Plans			Total
Balance at January 1, 2017	$	(32,342	)	$	(1,832	)	$	(34,174	)
Other comprehensive income before reclassifications		3,491			—			3,491
Net current-period other comprehensive income		3,491			—			3,491
Balance at September 30, 2017	$	(28,851	)	$	(1,832	)	$	(30,683	)

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Restructuring (Tables)

9 Months Ended

Sep. 30, 2017

Restructuring And Related Activities [Abstract]

Summary of Restructuring Charges

The restructuring charges noted above are presented in the Condensed Consolidated Statement of Operations (Unaudited) as follows:

	For the Three Months Ended September 30, 2017		For the Nine Months Ended September 30, 2017
Cost of sales	$	1,908	$	6,968
Selling, general and administrative expenses		164		164
	$	2,072	$	7,132

Summary of Restructuring Activity

The table below summarizes restructuring activity for the nine months ended September 30, 2017:

	Employee Reduction			Accelerated Depreciation			Other Exit Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—		$	—
Charges to expense		2,868			2,018			2,246			7,132
Cash payments		(773	)		—			(1,929	)		(2,702	)
Non-cash utilization		—			(2,018	)		—			(2,018	)
Balance at September 30, 2017	$	2,095		$	—		$	317		$	2,412

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Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Liabilities

The balance in other current liabilities is comprised of the following:

	September 30,		December 31,
	2017		2016
Deposits and amounts due to customers	$	4,048	$	2,688
Dividends payable		4,455		4,260
Accrued litigation and professional fees		606		452
Current portion of environmental reserves		1,022		605
Other accrued expenses		4,362		5,078
	$	14,493	$	13,083

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Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

The change in goodwill

The change in goodwill for the nine months ended September 30, 2017 was as follows:

	Distribution		Material Handling		Total
January 1, 2017	$	505	$	58,714	$	59,219
Foreign currency translation		—		829		829
September 30, 2017	$	505	$	59,543	$	60,048

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Net Income (Loss) per Common Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Weighted average number of common shares outstanding during the period

Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Weighted average common shares outstanding basic		30,266,838		29,849,005		30,149,818		29,682,798
Dilutive effect of stock options and restricted stock		385,105		226,473		374,343		266,913
Weighted average common shares outstanding diluted		30,651,943		30,075,478		30,524,161		29,949,711

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Long-Term Debt and Loan Agreements (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Long Term Debt

Long-term debt consisted of the following:

	September 30,		December 31,
	2017		2016
Loan Agreement	$	59,795	$	90,686
4.67% Senior Unsecured Notes due 2021		40,000		40,000
5.25% Senior Unsecured Notes due 2024		11,000		11,000
5.30% Senior Unsecured Notes due 2024		29,000		29,000
5.45% Senior Unsecured Notes due 2026		20,000		20,000
		159,795		190,686
Less unamortized deferred financing costs		1,785		1,164
	$	158,010	$	189,522

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Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2017

Compensation And Retirement Disclosure [Abstract]

Net periodic pension cost

Net periodic pension cost is as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Interest cost	$	63		$	68		$	189		$	204
Expected return on assets		(74	)		(80	)		(222	)		(240	)
Amortization of net loss		24			20			72			61
Net periodic pension cost	$	13		$	8		$	39		$	25
Company contributions	$	—		$	—		$	—		$	—

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Industry Segments (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Schedule of Reporting Information by Segment

Summarized segment detail for the three and nine months ended September 30, 2017 and 2016 are presented in the following table:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Net Sales
Material Handling	$	104,089		$	89,911		$	310,343		$	299,842
Distribution		40,004			42,793			117,836			128,248
Inter-company sales		(18	)		(28	)		(98	)		(92	)
Total net sales	$	144,075		$	132,676		$	428,081		$	427,998

Income (loss) from continuing operations before income taxes
Material Handling	$	10,325		$	4,378		$	29,839		$	26,152
Distribution		3,179			3,301			7,742			9,803
Corporate		(6,393	)		(4,693	)		(17,532	)		(20,674	)
Total operating income		7,111			2,986			20,049			15,281
Interest expense, net		(1,785	)		(2,015	)		(5,545	)		(6,087	)
Income from continuing operations before income taxes	$	5,326		$	971		$	14,504		$	9,194

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Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Receivables
Trade receivable sold under factoring agreement	$ 1.3	$ 0.9
Cash proceeds from sale of receivables	1.2	0.8
Administrative fees	0.1	$ 0.1
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Less unamortized deferred financing fees [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Notes payable, carrying amount	100.0		$ 100.0
Estimate of Fair Value, Fair Value Disclosure [Member] | Less unamortized deferred financing fees [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Notes payable, fair value disclosure	$ 101.0		$ 98.0

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Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 93,033
Net current-period other comprehensive income	$ 2,380	$ (823)	3,491	$ 6,009
Ending balance	97,732		97,732
Foreign Currency [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(32,342)
Other comprehensive income before reclassifications			3,491
Net current-period other comprehensive income			3,491
Ending balance	(28,851)		(28,851)
Defined Benefit Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(1,832)
Other comprehensive income before reclassifications			0
Net current-period other comprehensive income			0
Ending balance	(1,832)		(1,832)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(34,174)
Other comprehensive income before reclassifications			3,491
Net current-period other comprehensive income			3,491
Ending balance	$ (30,683)		$ (30,683)

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Impairment Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Impairment charges	$ 0		$ 0			$ 544	$ 9,874
Material Handling [Member]
Impairment charges				$ 1,300
Novel [Member]
Impairment charges					$ 8,500
Manufacturing Plant Closing [Member] | Scarborough, Ontario, Canada [Member]
Impairment charges		$ 500
Other Assets [Member] | Manufacturing Plant Closing [Member] | Scarborough, Ontario, Canada [Member] | Level 2 [Member]
Building classified as held for sale, fair value		$ 3,200

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Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands		6 Months Ended
	Feb. 17, 2015	Jun. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Notes receivable, carrying value			$ 18,632	$ 18,275
Lawn and Garden Business [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Interest rate	6.00%
Notes Receivable, Fair Value Disclosure	$ 17,800
Notes receivable, carrying value			$ 18,600
Amount of consideration received	110,000
Proceeds from divestiture of businesses	90,000
Promissory note receivable	$ 20,000
Maturity date of promissory note receivable	2020-08
Escrow deposit	$ 8,600
Escrow deposit due to be settled date	2016-08
Adjustment to working capital		$ 4,000

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Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 2,072	$ 7,132
Held for Sale [Member]
Restructuring Cost And Reserve [Line Items]
Proceeds from the sale of assets	6,000
Gain on asset dispositions	2,600
Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	1,908	6,968
Manufacturing Plant Closing [Member]
Restructuring Cost And Reserve [Line Items]
Gains on other asset dispositions	200	1,500
Restructuring charges	1,000	5,200
Other restructuring associated costs incurred	300	1,000
Manufacturing Plant Closing [Member] | Sandusky, Ohio [member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	200	300
Headcount Efficiencies [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges		2,868
Headcount Efficiencies [Member] | Cost of Sales [Member] | Scarborough, Ontario, Canada [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges in employee severance and other employee-related costs	$ 900	$ 1,600
Scenario, Forecast [Member]
Restructuring Cost And Reserve [Line Items]
Expected restructuring charges in 2017			$ 7,900
Restructuring charges in employee severance and other employee-related costs			3,200
Restructuring charges in equipment relocation and facility shut down costs			2,600
Expected restructuring charges in accelerated depreciation charges on property, plant and equipment			2,100
Expected restructuring charges in remainder of 2017			800
Scenario, Forecast [Member] | Manufacturing Plant Closing [Member]
Restructuring Cost And Reserve [Line Items]
Expected restructuring charges in remainder of 2017			$ 200

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Restructuring - Summary of Restructuring Charges Presented in Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 2,072	$ 7,132
Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	1,908	6,968
Selling, General and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 164	$ 164

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Restructuring - Summary of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Restructuring Cost And Reserve [Line Items]
Charges to expense	$ 2,072	$ 7,132
Cash payments		(2,702)
Non-cash utilization		(2,018)
Balance at September 30, 2017	2,412	2,412
Employee Reduction [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense		2,868
Cash payments		(773)
Balance at September 30, 2017	2,095	2,095
Accelerated Depreciation [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense		2,018
Non-cash utilization		(2,018)
Other Exit Costs [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense		2,246
Cash payments		(1,929)
Balance at September 30, 2017	$ 317	$ 317

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Inventories - Additional Information (Details)	3 Months Ended
	Sep. 30, 2017 USD ($) Inventory_Pool	Jun. 30, 2017 USD ($)
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	40.00%
Number of LIFO inventory pool that increase commodity costs | Inventory_Pool	1
Inventory, increase in LIFO reserve and cost of sales	$ 400,000
Inventory adjustment		$ 0

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Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Deposits and amounts due to customers	$ 4,048	$ 2,688
Dividends payable	4,455	4,260
Accrued litigation and professional fees	606	452
Current portion of environmental reserves	1,022	605
Other accrued expenses	4,362	5,078
Other current liabilities, Total	$ 14,493	$ 13,083

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Goodwill and Intangible Assets - Change in Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 59,219
Foreign currency translation	829
Ending balance	60,048
Distribution [Member]
Goodwill [Roll Forward]
Beginning balance	505
Foreign currency translation	0
Ending balance	505
Material Handling [Member]
Goodwill [Roll Forward]
Beginning balance	58,714
Foreign currency translation	829
Ending balance	$ 59,543

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Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Trade Names [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Carrying value of indefinite-lived intangible assets	$ 10.9	$ 10.9

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Net Income (Loss) per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted average common shares outstanding basic	30,266,838	29,849,005	30,149,818	29,682,798
Dilutive effect of stock options and restricted stock (in shares)	385,105	226,473	374,343	266,913
Weighted average common shares outstanding diluted (in shares)	30,651,943	30,075,478	30,524,161	29,949,711

XML

Net Income (Loss) per Common Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of net earnings or loss per common share	256,600	569,050	261,100	569,050

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Stock Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted During Period		0	0
Stock compensation expense		$ 1.1		$ 0.7	$ 2.9	$ 2.8
Total unrecognized compensation cost related to non-vested share based compensation arrangements		$ 6.5			$ 6.5
Unrecognized compensation cost period for recognition					3 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of expiration, term					10 years
Options Granted	397,759
Options, Granted, Average exercise Price	$ 14.30
Options Granted, Average Fair Value price	$ 4.47
Time Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted During Period	87,887
Granted, Average Granted Date Fair Value	$ 14.30
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted During Period	140,746
Granted, Average Granted Date Fair Value	$ 14.30
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant under plan (in shares)							5,126,950

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Contingencies - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2016	Oct. 31, 2011	Sep. 30, 2017	Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2015	Dec. 31, 2005	Dec. 31, 2016
Loss Contingencies [Line Items]
Other current liabilities			$ 14,493			$ 14,493			$ 13,083
Other liabilities			7,616			7,616			$ 9,235
New Almaden Mine [Member] | Natural Resource Damage Claim [Member]
Loss Contingencies [Line Items]
Expense recognized					$ 1,200			$ 800
Total reserve			1,500			1,500
Other current liabilities			300			300
Other liabilities			1,200			1,200
Accrued balance						500
Originally estimated project costs	$ 1,600
Revised estimated project costs, Low Estimate	3,300
Revised estimated project costs, High Estimate	$ 4,400
Lawn and Garden Indemnification Claim [Member]
Loss Contingencies [Line Items]
Indemnification claims						10,000
Escrow deposit			8,600			$ 8,600
Escrow deposit due to be settled date						2016-08
Pending Litigation [Member] | New Idria Mercury Mine [Member] | EPA Notice Letter [Member]
Loss Contingencies [Line Items]
Expense recognized		$ 1,900		$ 1,000
Additional reserve			300
Loss contingency costs			1,600			$ 1,600
Accrued balance							$ 1,300
Total reserve			2,700			2,700
Other current liabilities			700			700
Other liabilities			$ 2,000			$ 2,000

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Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt	$ 159,795	$ 190,686
Less unamortized deferred financing fees	1,785	1,164
Long-term Debt, net of deferred financing costs	158,010	189,522
Loan Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt	59,795	90,686
4.67% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term Debt	40,000	40,000
5.25% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	11,000	11,000
5.30% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	29,000	29,000
5.45% Senior Unsecured Notes due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 20,000	$ 20,000

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Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2017
4.67% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate	4.67%
Debt instrument maturity period	2021
5.25% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.25%
Debt instrument maturity period	2024
5.30% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.30%
Debt instrument maturity period	2024
5.45% Senior Unsecured Notes due 2026 [Member]
Debt Instrument [Line Items]
Interest rate	5.45%
Debt instrument maturity period	2026

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Long-Term Debt and Loan Agreements - Additional Information (Details)	1 Months Ended	3 Months Ended					9 Months Ended
	Oct. 31, 2017 USD ($) NoteHolder	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017 USD ($)	Sep. 30, 2016	May 30, 2014 USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit			$ 200,000,000				$ 200,000,000
Letters of credit			4,400,000				4,400,000
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Face value of debt instrument with offer to be repurchased			$ 100,000,000				$ 100,000,000
Senior Unsecured Notes [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument repurchase amount	$ 22,000,000
Debt instrument repurchase date	Oct. 31, 2017
Number of note holder accepted the offer | NoteHolder	1
Scenario, Forecast [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 1,900,000
Loan Amendment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit									$ 300,000,000
Loan maturity period							2018-12
Maximum leverage ratio			3.50%	3.75%	3.75%
Remaining amount available under the line of credit			$ 135,800,000				$ 135,800,000
Interest rate during period			5.18%			4.65%	5.05%	4.61%
Loan Amendment [Member] | Extended Maturity [Member]
Debt Instrument [Line Items]
Loan maturity period							2022-03
Loan Amendment [Member] | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Maximum leverage ratio		3.25%

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Retirement Plans - Periodic Pension Cost (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 63	$ 68	$ 189	$ 204
Expected return on assets	(74)	(80)	(222)	(240)
Amortization of net loss	24	20	72	61
Net periodic pension cost	$ 13	$ 8	$ 39	$ 25

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Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective tax rate for the year	38.50%	56.30%	42.00%	69.80%
Unrecognized tax benefits that would impact effective tax rate	$ 0.3		$ 0.3		$ 0.5

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Industry Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2017 Segment
Segment Reporting [Abstract]
Number of operating segments	2

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Industry Segments - Schedule of reporting information by segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 144,075	$ 132,676	$ 428,081	$ 427,998
Operating Income	7,111	2,986	20,049	15,281
Interest expense, net	(1,785)	(2,015)	(5,545)	(6,087)
Income from continuing operations before income taxes	5,326	971	14,504	9,194
Operating Segments [Member] | Material Handling [Member]
Segment Reporting Information [Line Items]
Net sales	104,089	89,911	310,343	299,842
Operating Income	10,325	4,378	29,839	26,152
Operating Segments [Member] | Distribution [Member]
Segment Reporting Information [Line Items]
Net sales	40,004	42,793	117,836	128,248
Operating Income	3,179	3,301	7,742	9,803
Inter-company sales [Member]
Segment Reporting Information [Line Items]
Net sales	(18)	(28)	(98)	(92)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating Income	$ (6,393)	$ (4,693)	$ (17,532)	$ (20,674)