Carbo Ceramics (CRRTQ) 10-Q 30 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 23, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	CRR
Entity Registrant Name	CARBO CERAMICS INC
Entity Central Index Key	1009672
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		23,271,763

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$96,143	$24,298
Trade accounts and other receivables, net	68,713	132,573
Inventories:
Finished goods	105,632	106,941
Raw materials and supplies	23,664	37,502
Total inventories	129,296	144,443
Prepaid expenses and other current assets	4,530	5,241
Prepaid income taxes	2,632	19,708
Deferred income taxes	26,271	11,348
Total current assets	327,585	337,611
Property, plant and equipment:
Land and land improvements	40,888	40,921
Land-use and mineral rights	19,877	19,877
Buildings	75,263	74,911
Machinery and equipment	625,370	627,517
Construction in progress	128,351	109,378
Total	889,749	872,604
Less accumulated depreciation and amortization	314,271	303,888
Net property, plant and equipment	575,478	568,716
Goodwill	12,164	12,164
Intangible and other assets, net	24,286	15,735
Total assets	939,513	934,226
Current liabilities:
Bank borrowings	75,000	25,000
Accounts payable	13,028	22,922
Accrued payroll and benefits	2,766	12,466
Accrued freight	1,155	5,925
Accrued utilities	1,768	3,714
Dividends payable	2,327
Derivative instruments	6,759
Other accrued expenses	12,155	7,388
Total current liabilities	114,958	77,415
Deferred income taxes	81,631	80,754
Derivative instruments	5,788
Shareholders' equity:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none outstanding
Common stock, par value $0.01 per share, 80,000,000 shares authorized; 23,271,763 and 23,092,674 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	233	231
Additional paid-in capital	59,937	59,297
Retained earnings	700,337	739,498
Accumulated other comprehensive loss	-23,371	-22,969
Total shareholders' equity	737,136	776,057
Total liabilities and shareholders' equity	$939,513	$934,226

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred stock, par value	$0.01	$0.01
Preferred stock, share authorized	5,000	5,000
Preferred stock, share outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, share authorized	80,000,000	80,000,000
Common stock, share issued	23,271,763	23,092,674
Common stock, share outstanding	23,271,763	23,092,674

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues	$73,747	$148,564
Cost of sales	99,745	104,200
Gross (loss) profit	-25,998	44,364
Selling, general, and administrative expenses, and other operating expenses	16,515	16,953
Operating (loss) profit	-42,513	27,411
Other (expense) income, net	-131	92
(Loss) income before income taxes	-42,644	27,503
Income tax (benefit) expense	-14,042	9,076
Net (loss) income	($28,602)	$18,427
(Loss) earnings per share:
Basic	($1.24)	$0.80
Diluted	($1.24)	$0.80
Other information:
Dividends declared per common share (See Note 4)	$0.43	$0.60

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net (loss) income	($28,602)	$18,427
Other comprehensive loss:
Foreign currency translation adjustment	-402	-4,448
Deferred income tax benefit		1,370
Other comprehensive loss, net of tax	-402	-3,078
Comprehensive (loss) income	($29,004)	$15,349

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net (loss) income	($28,602)	$18,427
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	12,994	11,803
Provision for doubtful accounts	91	89
Deferred income taxes	-14,043	482
Excess tax benefits from stock based compensation		-372
Lower of cost or market inventory adjustment	4,372
Gain on disposal of assets	-32	-8
Foreign currency transaction loss, net	48	23
Stock compensation expense	2,242	2,086
Loss on derivative instruments	12,547
Changes in operating assets and liabilities:
Trade accounts and other receivables	63,785	17,701
Inventories	1,871	-7,352
Prepaid expenses and other current assets	711	680
Long-term prepaid expenses	78	-1,927
Accounts payable	-6,778	134
Accrued expenses	-11,648	-6,235
Accrued income taxes, net	15,479	8,578
Net cash provided by operating activities	53,115	44,109
Investing activities
Capital expenditures	-22,887	-38,908
Net cash used in investing activities	-22,887	-38,908
Financing activities
Proceeds from bank borrowings	50,000
Dividends paid	-7,682	-6,945
Purchase of common stock	-549	-5,779
Excess tax benefits from stock based compensation		372
Net cash provided by (used in) financing activities	41,769	-12,352
Effect of exchange rate changes on cash	-152	-1,001
Net increase (decrease) in cash and cash equivalents	71,845	-8,152
Cash and cash equivalents at beginning of period	24,298	94,250
Cash and cash equivalents at end of period	96,143	86,098
Supplemental cash flow information
Interest paid	164	10
Income taxes paid		$16

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Basis of Presentation	1	Basis of Presentation
	The accompanying unaudited consolidated financial statements of CARBO Ceramics Inc. have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of the interim periods presented herein are not necessarily indicative of the results to be expected for any other interim period or the full year. The consolidated balance sheet as of December 31, 2014 has been derived from the audited financial statements at that date. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the annual report on Form 10-K of CARBO Ceramics Inc. for the year ended December 31, 2014.
	The consolidated financial statements include the accounts of CARBO Ceramics Inc. and its operating subsidiaries (the “Company”). All significant intercompany transactions have been eliminated.
	Lower of Cost or Market Inventory Adjustment
	During the three-month period ended March 31, 2015, market conditions changed with regard to demand for certain products offered by the Company. The Company evaluated its operations and reviewed the carrying values of long-lived assets and inventories and concluded that certain assets had been impacted by the change in market conditions. The Company concluded that current market prices were below carrying costs for some of its inventories. Consequently, the Company recognized a $4,372 loss in cost of sales to adjust finished goods and raw materials carrying values to the lower market prices.

Loss_Earnings_Per_Share

(Loss) Earnings Per Share	3 Months Ended
	Mar. 31, 2015
(Loss) Earnings Per Share	2	(Loss) Earnings Per Share
	The following table sets forth the computation of basic and diluted (loss) earnings per share under the two-class method:
			Three months ended
			March 31,
			2015			2014
	Numerator for basic and diluted (loss) earnings per share:
	Net (loss) income		$	(28,602	)	$	18,427
	Effect of reallocating undistributed earnings of participating securities			—			(136	)
	Net (loss) income available under the two-class method		$	(28,602	)	$	18,291
	Denominator:
	Denominator for basic (loss) earnings per share — weighted-average shares			22,974,880			22,948,109
	Effect of dilutive potential common shares			—			—
	Denominator for diluted (loss) earnings per share — adjusted weighted-average shares			22,974,880			22,948,109
	Basic (loss) earnings per share		$	(1.24	)	$	0.8
	Diluted (loss) earnings per share		$	(1.24	)	$	0.8

Common_Stock_Repurchase_Progra

Common Stock Repurchase Program	3 Months Ended
	Mar. 31, 2015
Common Stock Repurchase Program	3	Common Stock Repurchase Program
	On January 28, 2015, the Company’s Board of Directors authorized the repurchase of up to two million shares of the Company’s common stock. Shares are effectively retired at the time of purchase. As of March 31, 2015, the Company had not yet repurchased any shares under the plan.

Dividends

Dividends	3 Months Ended
	Mar. 31, 2015
Dividends	4	Dividends
	On January 20, 2015, the Board of Directors declared a cash dividend of $0.33 per common share payable to shareholders of record on February 2, 2015. The dividend was paid on February 17, 2015. On March 17, 2015, the Board of Directors declared a cash dividend of $0.10 per common share payable to shareholders of record on May 1, 2015. The dividend is payable on May 15, 2015 and is presented in Current Liabilities at March 31, 2015.

Derivative_Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2015
Derivative Instruments	5	Derivative Instruments
	Natural gas is used to fire the kilns at the Company’s domestic manufacturing plants. In an effort to mitigate potential volatility in the cost of natural gas purchases and reduce exposure to short-term spikes in the price of this commodity, from time to time, the Company enters into contracts to purchase a portion of the anticipated monthly natural gas requirements at specified prices. Contracts are geographic by plant location. Historically, the Company has taken delivery of all natural gas quantities under contract, which exempted the Company from accounting for the contracts as derivative instruments. However, due to the severe decline in industry activity during the first quarter of 2015, the Company significantly reduced production levels and consequently did not take delivery of all of the contracted natural gas quantities. As a result, during the three months ended March 31, 2015, the Company began accounting for relevant contracts as derivative instruments, which requires the gas contracts to be recognized as either assets or liabilities at fair value with an offsetting entry in earnings. As a result, during the three months ended March 31, 2015, the Company recognized a loss of $12,547 in cost of sales on the recognition of derivative instruments. The cumulative present value losses on these natural gas derivative contracts as of March 31, 2015 are presented as current and long-term liabilities, as applicable, in the Consolidated Balance Sheet. At March 31, 2015, the Company has contracted for delivery a total of 11,160,000 MMBtu of natural gas at an average price of $4.57 per MMBtu through December 31, 2018. Contracts covering 9,480,000 MMBtu are now subject to accounting as derivative instruments.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements	6	Fair Value Measurements
	The Company’s derivative instruments are measured at fair value on a recurring basis. U.S. GAAP establishes a fair value hierarchy that has three levels based on the reliability of the inputs used to determine the fair value. These levels include: Level 1, defined as inputs such as unadjusted quoted prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for use when little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company uses the income approach in determining the fair value of its derivative instruments. The model used considers the difference between our contracted prices and the New York Mercantile Exchange forward strip price as of March 31, 2015 for each contracted period. The estimated cash flows from these contracts are discounted using a discount rate that reflects the nature of the contracts as well as the timing and risk of estimated cash flows associated with the contracts. The Company’s gas contract derivatives are included within the Level 2 fair value hierarchy.
	The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value:
			Fair value as of March 31, 2015
			Level 1		Level 2			Level 3		Total
	Assets		$	—	$	—		$	—	$	—
	Liabilities:
	Derivative instruments			—		(12,547	)		—		(12,547	)
	Total fair value		$	—	$	(12,547	)	$	—	$	(12,547	)

Stock_Based_Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2015
Stock Based Compensation	7	Stock Based Compensation
	The 2014 CARBO Ceramics Inc. Omnibus Incentive Plan (the “2014 Omnibus Incentive Plan”) provides for granting of cash-based awards, stock options (both non-qualified and incentive) and other equity-based awards (including stock appreciation rights, phantom stock, restricted stock, restricted stock units, performance shares, deferred share units or share-denominated performance units) to employees and non-employee directors. As of March 31, 2015, 544,584 shares were available for issuance under the 2014 Omnibus Incentive Plan. Although the 2009 CARBO Ceramics Inc. Omnibus Incentive Plan (the “2009 Omnibus Incentive Plan”) has expired, nonvested restricted shares granted under that plan remain outstanding in accordance with its terms.
	A summary of restricted stock activity and related information for the three months ended March 31, 2015 is presented below:
			Shares			Weighted-
						Average
						Grant-Date
						Fair Value
	Nonvested at January 1, 2015			147,489		$	99.51
	Granted			204,395		$	33.79
	Vested			(62,552	)	$	101.24
	Forfeited			(8,553	)	$	51.58
	Nonvested at March 31, 2015			280,779		$	52.74
	As of March 31, 2015, there was $11,605 of total unrecognized compensation cost, net of estimated forfeitures, related to restricted shares granted under both the expired 2009 Omnibus Incentive Plan and the 2014 Omnibus Incentive Plan. That cost is expected to be recognized over a weighted-average period of 2.5 years. The total fair value of shares vested during the three months ended March 31, 2015 was $6,333.
	The Company made performance-based cash awards to certain executives of the Company pursuant to the 2014 Omnibus Incentive Plan with a total Target Award of $818. The amount of awards that will ultimately vest can range from 0% to 200% based on the Company’s Relative Total Shareholder Return calculated over a three year period beginning January 1, 2015 through December 31, 2017.
	The Company also made phantom stock awards to key international employees pursuant to the expired 2009 Omnibus Incentive Plan prior to its expiration and the 2014 Omnibus Incentive Plan. The units subject to a phantom stock award vest and cease to be forfeitable in equal annual installments over a three-year period. Participants awarded units of phantom stock are entitled to a lump sum cash payment equal to the fair market value of a share of Common Stock on the vesting date. In no event will Common Stock of the Company be issued with regard to outstanding phantom stock awards. As of March 31, 2015, there were 18,180 units of phantom stock granted under the expired 2009 Omnibus Incentive Plan, of which 12,569 have vested and 2,182 have been forfeited. As of March 31, 2015, there were 5,020 units of phantom stock granted under the 2014 Omnibus Incentive Plan, of which none have vested and none have been forfeited. As of March 31, 2015, nonvested units of phantom stock under the 2009 Omnibus Incentive Plan and the 2014 Omnibus Incentive Plan have a total value of $258, a portion of which is accrued as a liability within Accrued Payroll and Benefits.

Bank_Borrowings

Bank Borrowings	3 Months Ended
	Mar. 31, 2015
Bank Borrowings	8	Bank Borrowings
	The Company has an unsecured revolving credit agreement with a bank. On October 31, 2014 the Company entered into a third amendment to this credit agreement that (i) extends the maturity date of the credit agreement from July 25, 2018 to October 31, 2019 and (ii) increases the size of the revolving credit facility from $50,000 to $100,000. The Company has the option of choosing either the bank’s fluctuating Base Rate or LIBOR Fixed Rate, plus an Applicable Margin, all as defined in the credit agreement. The terms of the credit agreement provide for certain affirmative and negative covenants and require the Company to maintain certain financial ratios. Commitment fees are payable quarterly at an annual rate between 0.375% and 0.50% of the unused line of credit. As of March 31, 2015, the Company’s outstanding debt under the credit agreement was $75,000 and the weighted average interest rate was 2.65% based on LIBOR-based rate borrowings.

Foreign_Currencies

Foreign Currencies	3 Months Ended
	Mar. 31, 2015
Foreign Currencies	9	Foreign Currencies
	As of March 31, 2015, the Company’s net investment that is subject to foreign currency fluctuations totaled $33,011, and the Company has recorded a cumulative foreign currency translation loss of $23,371. This cumulative translation loss is included in, and is the only component of, Accumulated Other Comprehensive Loss. There were no amounts reclassified to net income during the quarter ended March 31, 2015. During 2014 and continuing into 2015, the value of the Russian Ruble significantly declined relative to the U.S. dollar. The financial impact of this decline on the Company’s net assets in Russia is included in Other Comprehensive Income and the cumulative foreign currency translation loss noted above. No income tax benefits have been recorded on these losses as a result of the uncertainty about recoverability of the related deferred income tax benefits.

Legal_Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2015
Legal Proceedings	10	Legal Proceedings
	The Company is subject to legal proceedings, claims and litigation arising in the ordinary course of business. While the outcome of these matters is currently not determinable, management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events	11	Subsequent Events
	Subsequent to March 31, 2015, the Company borrowed $20,000 on its existing revolving credit facility. As of April 30, 2015, the balance outstanding on the Company’s revolving credit facility was $95,000.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2015
Lower of Cost or Market Inventory Adjustment	Lower of Cost or Market Inventory Adjustment
	During the three-month period ended March 31, 2015, market conditions changed with regard to demand for certain products offered by the Company. The Company evaluated its operations and reviewed the carrying values of long-lived assets and inventories and concluded that certain assets had been impacted by the change in market conditions. The Company concluded that current market prices were below carrying costs for some of its inventories. Consequently, the Company recognized a $4,372 loss in cost of sales to adjust finished goods and raw materials carrying values to the lower market prices.

Loss_Earnings_Per_Share_Tables

(Loss) Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Computation of Basic and Diluted (Loss) Earnings per Share under Two-Class Method	The following table sets forth the computation of basic and diluted (loss) earnings per share under the two-class method:
		Three months ended
		March 31,
		2015			2014
	Numerator for basic and diluted (loss) earnings per share:
	Net (loss) income	$	(28,602	)	$	18,427
	Effect of reallocating undistributed earnings of participating securities		—			(136	)
	Net (loss) income available under the two-class method	$	(28,602	)	$	18,291
	Denominator:
	Denominator for basic (loss) earnings per share — weighted-average shares		22,974,880			22,948,109
	Effect of dilutive potential common shares		—			—
	Denominator for diluted (loss) earnings per share — adjusted weighted-average shares		22,974,880			22,948,109
	Basic (loss) earnings per share	$	(1.24	)	$	0.8
	Diluted (loss) earnings per share	$	(1.24	)	$	0.8

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements of Financial Assets and Liabilities on Recurring and Non Recurring Basis	The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value:
		Fair value as of March 31, 2015
		Level 1		Level 2			Level 3		Total
	Assets	$	—	$	—		$	—	$	—
	Liabilities:
	Derivative instruments		—		(12,547	)		—		(12,547	)
	Total fair value	$	—	$	(12,547	)	$	—	$	(12,547	)

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Restricted Stock Activity and Related Information	A summary of restricted stock activity and related information for the three months ended March 31, 2015 is presented below:
		Shares			Weighted-
					Average
					Grant-Date
					Fair Value
	Nonvested at January 1, 2015		147,489		$	99.51
	Granted		204,395		$	33.79
	Vested		(62,552	)	$	101.24
	Forfeited		(8,553	)	$	51.58
	Nonvested at March 31, 2015		280,779		$	52.74

Basis_of_Presentation_Addition

Basis of Presentation - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Significant Accounting Policies [Line Items]
Lower of cost or market inventory adjustment	$4,372

Computation_of_Basic_and_Dilut

Computation of Basic and Diluted (Loss) Earnings per Share under Two-Class Method (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Numerator for basic and diluted (loss) earnings per share:
Net (loss) income	($28,602)	$18,427
Effect of reallocating undistributed earnings of participating securities		-136
Net (loss) income available under the two-class method	($28,602)	$18,291
Denominator:
Denominator for basic (loss) earnings per share - weighted-average shares	22,974,880	22,948,109
Effect of dilutive potential common shares	0	0
Denominator for diluted (loss) earnings per share - adjusted weighted-average shares	22,974,880	22,948,109
Basic (loss) earnings per share	($1.24)	$0.80
Diluted (loss) earnings per share	($1.24)	$0.80

Common_Stock_Repurchase_Progra1

Common Stock Repurchase Program - Additional Information (Detail) (Stock Repurchase Program)	3 Months Ended
	Mar. 31, 2015	Jan. 28, 2015
Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Board of Directors authorized the repurchase of common stock		2,000,000
Shares repurchased	0

Dividends_Additional_Informati

Dividends - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 17, 2015	Jan. 20, 2015
Dividends Payable [Line Items]
Dividends declared per common share	$0.43	$0.60
Dividend Declared
Dividends Payable [Line Items]
Dividends declared per common share			$0.10	$0.33
Cash dividend, date dividend paid			15-May-15	17-Feb-15
Cash dividend, record date			1-May-15	2-Feb-15
Cash dividend, declaration date			17-Mar-15	20-Jan-15

Derivative_Instruments_Additio

Derivative Instruments - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Derivative [Line Items]
Loss on derivative instruments	($12,547)
Natural gas derivative contract
Derivative [Line Items]
Contracts volume, derivative instruments	9,480,000
Natural gas derivative contract | 2015 through December 31, 2018
Derivative [Line Items]
Contracts volume, derivative instruments	11,160,000
Average price	4.57
Cost of Sales
Derivative [Line Items]
Loss on derivative instruments	$12,547

Fair_Value_Measurements_of_Fin

Fair Value Measurements of Financial Assets and Liabilities on Recurring and Non Recurring Basis (Detail) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$0
Liabilities:
Derivative instruments	-12,547
Total fair value	-12,547
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0
Liabilities:
Derivative instruments	-12,547
Total fair value	-12,547
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$0

Stock_Based_Compensation_Addit

Stock Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance under the plan	544,584
Omnibus Incentive Plan | Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total fair value of units outstanding	$258
Omnibus Incentive Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, net	11,605
Unrecognized compensation expense, net, weighted average period	2 years 6 months
Total fair value of restricted stock vested	6,333
2014 Omnibus Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash awards	$818
2014 Omnibus Incentive Plan | Executive Officer | Total Shareholders Return | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
2014 Omnibus Incentive Plan | Executive Officer | Total Shareholders Return | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
2014 Omnibus Incentive Plan | Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted	5,020
Units vested	0
Units forfeited	0
2009 Omnibus Incentive Plan | Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted	18,180
Units vested	12,569
Units forfeited	2,182

Summary_of_Restricted_Stock_Ac

Summary of Restricted Stock Activity and Related Information (Detail) (Restricted Stock Units (RSUs), USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock Units (RSUs)
Shares
Beginning Balance	147,489
Granted	204,395
Vested	-62,552
Forfeited	-8,553
Ending Balance	280,779
Weighted-Average Grant-Date Fair Value
Beginning Balance	$99.51
Granted	$33.79
Vested	$101.24
Forfeited	$51.58
Ending Balance	$52.74

Bank_Borrowings_Additional_Inf

Bank Borrowings - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Frequency of payments for commitment fees	Quarterly
Line of credit facility, amount outstanding	$75,000	$25,000
Line of credit, weighted average interest rate	2.65%
Minimum
Line of Credit Facility [Line Items]
Commitment fees on unused line of credit, percentage	0.38%
Maximum
Line of Credit Facility [Line Items]
Commitment fees on unused line of credit, percentage	0.50%
Second Amendment
Line of Credit Facility [Line Items]
Line of credit maturity date	25-Jul-18
Line of credit, maximum borrowing capacity	50,000
Third Amendment
Line of Credit Facility [Line Items]
Line of credit amendment date	31-Oct-14
Line of credit maturity date	31-Oct-19
Line of credit, maximum borrowing capacity	$100,000

Foreign_Currencies_Additional_

Foreign Currencies - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Foreign Currency Balance [Line Items]
Investment subject to foreign currency fluctuations	$33,011,000
Cumulative foreign currency translation loss, net of deferred income tax benefit	-23,371,000		-22,969,000
Amount reclassified to net income	0
Income taxes	-14,042,000	9,076,000
Foreign Currency Exchange Loss, Net
Schedule of Foreign Currency Balance [Line Items]
Income taxes	$0

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Apr. 30, 2015
Subsequent Event [Line Items]
Proceeds from bank borrowings	$50,000
Subsequent Event
Subsequent Event [Line Items]
Proceeds from bank borrowings		20,000
Line of credit facility, amount outstanding		$95,000