Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Impacts of ASC 842 on Consolidated Financial Statements

The following tables summarize the impacts of ASC 842 on the Company’s consolidated financial statements:

	For the Year Ended December 31, 2019
	As Reported		Adjustments			Balances Without Adoption of ASC 842
Net sales	$	515,698	$	—		$	515,698
Cost of sales		344,386		—			344,386
Gross profit		171,312		—			171,312
Selling, general and administrative expenses		133,130		(135	)		132,995
Impairment charges		916		—			916
Operating income		37,266		135			37,401
Interest expense, net		4,083		—			4,083
Income from continuing operations before income taxes		33,183		135			33,318
Income tax expense		8,968		36			9,004
Income from continuing operations	$	24,215	$	99		$	24,314

	As of December 31, 2019
	As Reported			Adjustments			Balances Without Adoption of ASC 842
Assets
Right of use asset - operating leases	$	5,901		$	(5,901	)	$	—
Deferred tax asset		5,807			298			6,105

Liabilities
Other current liabilities	$	18,324		$	230		$	18,554
Operating lease liability - short-term		2,057			(2,057	)		—
Operating lease liability - long-term		4,074			(4,074	)		—
Other liabilities		22,582			1,102			23,684

Shareholders’ Equity
Retained deficit	$	(135,117	)	$	(804	)	$	(135,921	)

Summary of Determination Cost of Inventories

Inventories at December 31 consist of the following:

	December 31,		December 31,
	2019		2018
Finished and in-process products	$	32,537	$	27,960
Raw materials and supplies		11,723		15,636
	$	44,260	$	43,596

Schedule of Estimated Useful Lives of the Assets

The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows:

Buildings	20 to 40 years
Machinery and Equipment	3 to 10 years
Leasehold Improvements	5 to 10 years

Schedule of Property Plant and Equipment by Major Assets Class

The Company’s property, plant and equipment by major asset class at December 31 consists of:

	December 31,			December 31,
	2019			2018
Land	$	6,622		$	7,017
Buildings and leasehold improvements		43,803			53,821
Machinery and equipment		252,384			253,785
		302,809			314,623
Less allowances for depreciation and amortization		(247,845	)		(249,163	)
	$	54,964		$	65,460

The balances in the Company's Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

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

	Foreign Currency			Defined Benefit Pension Plans			Total
Balance at January 1, 2017	$	(32,342	)	$	(1,832	)	$	(34,174	)
Other comprehensive income (loss) before reclassifications		2,391			(31	)		2,360
Amounts reclassified from accumulated other comprehensive income, net of tax of ($24) ^{(1) (2)}		17,201			72			17,273
Net current-period other comprehensive income (loss)		19,592			41			19,633
Balance at December 31, 2017		(12,750	)		(1,791	)		(14,541	)
Other comprehensive income (loss) before reclassifications		(3,501	)		14			(3,487	)
Amounts reclassified from accumulated other comprehensive income, net of tax of ($21) ⁽¹⁾		—			63			63
Reclassification of stranded tax effects to retained earnings⁽³⁾		—			(315	)		(315	)
Net current-period other comprehensive income (loss)		(3,501	)		(238	)		(3,739	)
Balance at December 31, 2018		(16,251	)		(2,029	)		(18,280	)
Other comprehensive income (loss) before reclassifications		1,649			209			1,858
Amounts reclassified from accumulated other comprehensive income, net of tax of ($24) ⁽¹⁾		—			73			73
Net current-period other comprehensive income (loss)		1,649			282			1,931
Balance at December 31, 2019	$	(14,602	)	$	(1,747	)	$	(16,349	)

(1)	The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 15, Retirement Plans for additional details.

(2)	Cumulative translation adjustment associated with the 2017 sale of the Brazil Business, as further disclosed in Note 6, was realized as part of the loss on disposal included within discontinued operations when the subsidiary was disposed.

(3)	Reclassification of stranded tax effects resulting from the Tax Cuts and Jobs Act to retained earnings due to the adoption of ASU 2018-02 during the first quarter of 2018.