Operations and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of property plant and equipment useful life

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the following estimated useful lives:

Building and improvements	12 to 40 years
Leasehold improvements	Shorter of life of asset or life of lease
Machinery and equipment	2 to 15 years

Schedule of calculation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share at December 31, 2020, 2019 and 2018, respectively: 

	2020		2019		2018
Net income	$	9,517	$	28,620	$	40,854
Basic-weighted average shares outstanding	28,581		28,325		28,118
Effect of dilutive potential securities	883		1,170		772
Diluted-weighted average shares outstanding	29,464		29,495		28,890
Net income (per share)
Basic	$	0.33	$	1.01	$	1.45
Diluted	0.32		0.97		1.41

Schedule of accumulated other comprehensive loss

Accumulated other comprehensive loss consists of the following:

	Cash Flow Hedging Gain (Loss)		Pension Liability		Foreign Currency Translation Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2017	$	(3,530)	$	(25,813)	$	(19,735)	$	(49,078)
Other comprehensive income (loss) before reclassifications, net of tax	7,639		(2,711)		(8,369)		(3,441)
Amounts reclassified from accumulated other comprehensive income before tax(a)	913		2,689		—		3,602
Income tax	(221)		(650)		—		(871)
Net current-period other comprehensive income (loss)	8,331		(672)		(8,369)		(710)
Cumulative effect of change in accounting principle(b)	(716)		(5,233)		—		(5,949)
Balance, December 31, 2018	$	4,085	$	(31,718)	$	(28,104)	$	(55,737)
Other comprehensive income (loss) before reclassifications, net of tax	2,936		(2,158)		25		803
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(8,607)		2,881		—		(5,726)
Income tax	2,079		(696)		—		1,383
Net current-period other comprehensive income (loss)	(3,592)		27		25		(3,540)
Balance, December 31, 2019	$	493	$	(31,691)	$	(28,079)	$	(59,277)
Other comprehensive income (loss) before reclassifications, net of tax	(5,393)		(7,068)		6,963		(5,498)
Amounts reclassified from accumulated other comprehensive income (loss) before tax(a)	(1,378)		2,821		—		1,443
Income tax	333		(682)		—		(349)
Net current-period other comprehensive income (loss)	(6,438)		(4,929)		6,963		(4,404)
Balance, December 31, 2020	$	(5,945)	$	(36,620)	$	(21,116)	$	(63,681)

(a) The cash flow hedging gain (loss) and pension liability accumulated other comprehensive income components are included in sales or cost of sales and as a component of net periodic pension cost, respectively. Refer to Note 16 and Note 12, respectively, for further details.

(b) We recorded the cumulative impact of adopting ASU 2018-02 in 2018, which allows for the elimination of the stranded tax effects of Tax Reform through a reclassification between accumulated other comprehensive income (loss) and retained earnings.