Core Molding (CMT) 10-Q 4 Nov 16 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2016	Nov. 03, 2016
Entity Information [Line Items]
Entity Registrant Name	CORE MOLDING TECHNOLOGIES INC.
Entity Central Index Key	1,026,655
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,791,483

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 24,311,000	$ 8,943,000
Accounts receivable (less allowance for doubtful accounts: September 30, 2016 - $1,000; December 31, 2015 - $40,000)	21,190,000	36,886,000
Inventories:
Inventory, Finished Goods, Net of Reserves	1,560,000	1,646,000
Inventory, Work in Process, Net of Reserves	1,163,000	1,516,000
Inventory, Stores, Net of Reserves	8,602,000	10,535,000
Total inventories, net	11,325,000	13,697,000
Deferred tax asset-current portion	1,575,000	1,598,000
Foreign sales tax receivable	226,000	280,000
Income taxes receivable	0	670,000
Prepaid expenses and other current assets	985,000	610,000
Total current assets	59,612,000	62,684,000
Property, plant and equipment — net	71,212,000	74,103,000
Goodwill	2,403,000	2,403,000
Intangible Assets, Net (Excluding Goodwill)	575,000	613,000
Total Assets	133,802,000	139,803,000
Current liabilities:
Current portion of long-term debt	3,000,000	3,714,000
Accounts payable	9,704,000	13,481,000
Tooling in progress	1,072,000	2,271,000
Current portion of post retirement benefits liability	1,088,000	1,088,000
Accrued liabilities:
Compensation and related benefits	5,187,000	8,474,000
Taxes	168,000	203,000
Other	1,333,000	1,919,000
Total current liabilities	21,552,000	31,150,000
Long-term debt	7,500,000	9,750,000
Deferred Tax Liabilities, Net, Noncurrent	2,252,000	2,252,000
Post retirement benefits liability	7,890,000	7,918,000
Total Liabilities	39,194,000	51,070,000
Stockholders' Equity:
Preferred stock — $0.01 par value, authorized shares — 10,000,000; outstanding shares: 0 at September 30, 2016 and December 31, 2015	0	0
Common stock — $0.01 par value, authorized shares – 20,000,000; outstanding shares: 7,635,093 at September 30, 2016 and 7,596,500 at December 31, 2015	76,000	76,000
Paid-in capital	29,909,000	29,147,000
Accumulated other comprehensive income, net of income taxes	2,513,000	2,645,000
Treasury stock	(27,781,000)	(27,647,000)
Retained earnings	89,891,000	84,512,000
Total Stockholders' Equity	94,608,000	88,733,000
Total Liabilities and Stockholders' Equity	133,802,000	139,803,000
Commitments and Contingencies	$ 0	$ 0

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Assets, Current [Abstract]
Allowance for doubtful accounts	$ 1,000	$ 40,000
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common Stock, Shares, Outstanding	7,635,093	7,596,500

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net sales:
Sales Revenue, Goods, Net	$ 33,816,000	$ 44,243,000	$ 113,159,000	$ 145,612,000
Contracts Revenue	7,520,000	3,806,000	12,651,000	6,893,000
Total net sales	41,336,000	48,049,000	125,810,000	152,505,000
Total cost of sales	35,755,000	39,738,000	105,043,000	124,186,000
Gross margin	5,581,000	8,311,000	20,767,000	28,319,000
Total selling, general and administrative expense	3,924,000	4,409,000	12,361,000	13,294,000
Income before interest and taxes	1,657,000	3,902,000	8,406,000	15,025,000
Interest expense	67,000	95,000	233,000	237,000
Income before income taxes	1,590,000	3,807,000	8,173,000	14,788,000
Income tax expense	561,000	1,323,000	2,794,000	5,069,000
Net income	$ 1,029,000	$ 2,484,000	$ 5,379,000	$ 9,719,000
Net income per common share:
Basic (USD per share)	$ 0.13	$ 0.33	$ 0.71	$ 1.28
Diluted (USD per share)	$ 0.13	$ 0.33	$ 0.70	$ 1.27
Weighted average shares outstanding:
Basic	7,635,000	7,597,000	7,616,000	7,578,000
Diluted	7,667,000	7,625,000	7,649,000	7,623,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income	$ 1,029,000	$ 2,484,000	$ 5,379,000	$ 9,719,000
Other comprehensive income:
Unrealized Gain on Foreign Currency Derivatives, before Tax	67,000	0	67,000	0
Unrealized Foreign Currency Hedge Gain (Loss), Tax	(23,000)	0	(23,000)	0
Interest rate swaps:
Adjustment for amortization of losses included in net income	0	6,000	5,000	16,000
Income tax expense	0	2,000	2,000	5,000
Post retirement benefit plan adjustments:
Net actuarial loss	38,000	42,000	116,000	126,000
Prior service costs	(124,000)	(124,000)	(372,000)	(372,000)
Income tax benefit	26,000	24,000	77,000	73,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 1,013,000	$ 2,430,000	$ 5,247,000	$ 9,557,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock Outstanding	Paid-In Capital	Accumulated Other Comprehensive Income	Treasury Stock	Retained Earnings
Common Stock, Shares, Outstanding	7,596,500	7,596,500
Balance at Dec. 31, 2015	$ (88,733,000)	$ (76,000)	$ (29,147,000)	$ (2,645,000)	$ (27,647,000)	$ (84,512,000)
Net income	5,379,000
Change in post retirement benefits, net of tax of $77,000	(179,000)			(179,000)
Change in Unrealized Gain (Loss) on Foreign Currency Fair Value Hedging Instruments	44,000
Change in interest rate swaps, net of tax of $2,000	3,000			3,000
Treasury Stock, Retired, Par Value Method, Amount	(134,000)				(134,000)
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net	(16,000)		(16,000)
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		49,183
Share-based compensation	778,000		778,000
Balance at Sep. 30, 2016	$ (94,608,000)	$ (76,000)	$ 29,909,000	$ (2,513,000)	$ (27,781,000)	$ (89,891,000)
Common Stock, Shares, Outstanding	7,635,093	7,635,093
Treasury Stock, Shares		(10,590)

Consolidated Statement of Stoc7

Consolidated Statement of Stockholders' Equity (Unaudited) - Parenthetical	9 Months Ended
	Sep. 30, 2016USD ($)
Statement of Stockholders' Equity [Abstract]
Tax effect of change in post retirement benefits	$ 77,000
Tax effect of change in interest rate swaps	2,000
Unrealized Foreign Currency Hedge Gain (Loss), Tax	$ 23,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 5,379,000	$ 9,719,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,658,000	4,506,000
Interest rate swaps - Mark-to-market and amortization of losses	3,000	(14,000)
Share-based compensation	778,000	605,000
(Gain) loss on foreign currency translation and transaction	(51,000)	56,000
Change in operating assets and liabilities:
Accounts receivable	15,696,000	(3,088,000)
Inventories	2,372,000	(323,000)
Prepaid and other assets	(270,000)	1,023,000
Accounts payable	(3,538,000)	2,144,000
Increase (Decrease) in Income Taxes Receivable	670,000	2,286,000
Accrued and other liabilities	(5,030,000)	(6,941,000)
Post retirement benefits liability	(284,000)	(359,000)
Net cash provided by operating activities	20,383,000	9,614,000
Cash flows from investing activities:
Purchase of property, plant and equipment	(1,901,000)	(4,041,000)
Business Combination, Purchase Price Allocated	0	(14,512,000)
Net cash used in investing activities	(1,901,000)	(18,553,000)
Cash flows from financing activities:
Gross repayments on revolving line of credit	0	(10,102,000)
Gross borrowings on revolving line of credit	0	7,334,000
Excess tax benefit from equity plans	(16,000)	148,000
Payments related to purchase of treasury stock	(134,000)	(287,000)
Proceeds from issuance of common stock	0	(19,000)
Net cash used in financing activities	(3,114,000)	9,327,000
Net change in cash and cash equivalents	15,368,000	388,000
Cash and cash equivalents at beginning of period	8,943,000	2,312,000
Cash and cash equivalents at end of period	24,311,000	2,700,000
Cash paid for:
Interest (net of amounts capitalized)	225,000	198,000
Income taxes	1,882,000	3,590,000
Non Cash:
Fixed asset purchases in accounts payable	452,000	270,000
Term Loan [Member]
Cash flows from financing activities:
Proceeds from (Repayments of) Debt	0	15,500,000
Repayments of Short-term Debt	2,250,000	2,000,000
Capex Loan [Member]
Cash flows from financing activities:
Repayments of Short-term Debt	$ 714,000	$ 1,285,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States of America for interim reporting, which are less than those required for annual reporting. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (all of which are normal and recurring in nature) necessary to present fairly the financial position of Core Molding Technologies, Inc. and its subsidiaries (“Core Molding Technologies” or the “Company”) at September 30, 2016 , and the results of operations and cash flows for the nine months ended September 30, 2016 . The “Notes to Consolidated Financial Statements” contained in the Company's 2015 Annual Report to Shareholders, should be read in conjunction with these consolidated financial statements. Core Molding Technologies and its subsidiaries operate in the plastics market in a family of products known as “reinforced plastics.” Reinforced plastics are combinations of resins and reinforcing fibers (typically glass or carbon) that are molded to shape. Core Molding Technologies is a manufacturer of sheet molding compound ("SMC") and molder of fiberglass reinforced plastics. The Company specializes in large-format moldings and offers a wide range of fiberglass processes, including compression molding of SMC, glass mat thermoplastics, bulk molding compounds and direct long-fiber thermoplastics, spray-up, hand-lay-up, and resin transfer molding. Additionally, the Company offers reaction injection molding, utilizing dicyclopentadiene technology. Core Molding Technologies maintains five production facilities in Columbus, Ohio; Batavia, Ohio; Gaffney, South Carolina; Winona, Minnesota and Matamoros, Mexico. The Company operates in one business segment as a manufacturer of SMC and molder of fiberglass reinforced plastics. The Company produces and sells SMC and molded products for varied markets, including light, medium and heavy-duty trucks, automobiles and automotive aftermarket, marine, construction and other commercial products.

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common Share Basic net income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed similarly but includes the effect of the assumed exercise of restricted stock under the treasury stock method. The computation of basic and diluted net income per common share is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net income $ 1,029,000 $ 2,484,000 $ 5,379,000 $ 9,719,000 Weighted average common shares outstanding — basic 7,635,000 7,597,000 7,616,000 7,578,000 Effect of dilutive securities 32,000 28,000 33,000 45,000 Weighted average common and potentially issuable common shares outstanding — diluted 7,667,000 7,625,000 7,649,000 7,623,000 Basic net income per common share $ 0.13 $ 0.33 $ 0.71 $ 1.28 Diluted net income per common share $ 0.13 $ 0.33 $ 0.70 $ 1.27

Major Customers

Major Customers	9 Months Ended
	Sep. 30, 2016
Revenue, Net [Abstract]
Major Customers	Major Customers Core Molding Technologies has four major customers, Navistar, Inc. (“Navistar”), Volvo Group North America, LLC (“Volvo”), PACCAR, Inc. (“PACCAR”) and Yamaha Motor Manufacturing Corporation (“Yamaha”). Major customers are defined as customers whose sales individually consist of more than ten percent of total sales during any reporting period in the current year. The following table presents sales revenue for the above-mentioned customers for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Navistar product sales $ 9,575,000 $ 12,219,000 $ 31,304,000 $ 38,520,000 Navistar tooling sales 470,000 2,325,000 1,166,000 3,373,000 Total Navistar sales 10,045,000 14,544,000 32,470,000 41,893,000 Volvo product sales 6,337,000 13,080,000 23,465,000 41,720,000 Volvo tooling sales 5,353,000 387,000 5,801,000 1,585,000 Total Volvo sales 11,690,000 13,467,000 29,266,000 43,305,000 PACCAR product sales 6,887,000 8,409,000 18,434,000 27,567,000 PACCAR tooling sales 18,000 63,000 3,454,000 819,000 Total PACCAR sales 6,905,000 8,472,000 21,888,000 28,386,000 Yamaha product sales 3,602,000 2,067,000 11,658,000 11,551,000 Yamaha tooling sales — — — — Total Yamaha sales 3,602,000 2,067,000 11,658,000 11,551,000 Other product sales 7,415,000 8,468,000 28,298,000 26,254,000 Other tooling sales 1,679,000 1,031,000 2,230,000 1,116,000 Total other sales 9,094,000 9,499,000 30,528,000 27,370,000 Total product sales 33,816,000 44,243,000 113,159,000 145,612,000 Total tooling sales 7,520,000 3,806,000 12,651,000 6,893,000 Total sales $ 41,336,000 $ 48,049,000 $ 125,810,000 $ 152,505,000

Property, Plant & Equipment

Property, Plant & Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant & Equipment	Property, Plant & Equipment Property, plant and equipment consisted of the following for the periods specified: September 30, 2016 December 31, 2015 Property, plant and equipment $ 139,885,000 $ 137,996,000 Accumulated depreciation (68,673,000 ) (63,893,000 ) Property, plant and equipment — net $ 71,212,000 $ 74,103,000 Property, plant, and equipment are recorded at cost, unless obtained through acquisition, then assets are recorded at estimated fair value at the date of acquisition. Depreciation is provided on a straight-line method over the estimated useful lives of the assets. The carrying amount of long-lived assets is evaluated annually to determine if an adjustment to the depreciation period or to the unamortized balance is warranted. Amounts invested in capital additions in progress were $ 1,516,000 and $ 2,331,000 at September 30, 2016 and December 31, 2015 , respectively. The Company capitalized $ 0 and $ 2,000 of interest expense for the nine months ended September 30, 2016 and 2015 , respectively. At September 30, 2016 and December 31, 2015 , purchase commitments for capital expenditures in progress were $ 1,013,000 and $ 1,102,000 , respectively.

Business Combination (Notes)

Business Combination (Notes)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	5. Acquisition of CPI On March 20, 2015, the Company acquired substantially all of the assets of CPI Binani, Inc., a wholly owned subsidiary of Binani Industries Limited, located in Winona, Minnesota for a cash purchase price of $15,000,000 , which expanded the Company's capabilities to include D-LFT and diversified the customer base. The purchase price was subject to working capital adjustments resulting in a reduction in the purchase price of $488,000 . Cash paid at closing was financed through borrowings under the Company's existing credit facility, as amended and further described in Note 8 below. Consideration was allocated to assets acquired and liabilities assumed based on their fair values as of the acquisition date as follows: Accounts Receivable $ 1,615,000 Inventory 675,000 Other Current Assets 171,000 Property and Equipment 12,474,000 Intangibles 650,000 Goodwill 1,306,000 Accounts Payable (2,277,000 ) Other Current Liabilities (102,000 ) $ 14,512,000 The purchase price included consideration for strategic benefits, including an assembled workforce, operational infrastructure and synergistic revenue opportunities, which resulted in the recognition of goodwill. The goodwill is deductible for income tax purposes. The acquisition was not considered significant to the Company's consolidated balance sheet and results of operations. Accordingly, no pro-forma results are provided prior to the effective date of the acquisition. The Company incurred $ 303,000 of expense for the nine months ended September 30, 2015 associated with the acquisition, which was recorded in selling, general and administrative expense.

Goodwill and Intangibles (Notes

Goodwill and Intangibles (Notes)	9 Months Ended
	Sep. 30, 2016
Goodwill [Line Items]
Goodwill and Intangible Assets Disclosure [Text Block]	6. Goodwill and Intangibles Goodwill activity for the nine months ended September 30, 2016 consisted of the following: Balance at December 31, 2015 $ 2,403,000 Additions — Impairment — Balance at September 30, 2016 $ 2,403,000 Intangible assets at September 30, 2016 were comprised of the following: Definite-lived Intangible Assets Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade Name 25 years $ 250,000 $ (15,000 ) $ 235,000 Customer Relationships 10 years 400,000 (60,000 ) 340,000 $ 650,000 $ (75,000 ) $ 575,000 The aggregate intangible asset amortization expense was $ 13,000 for each of the three months ended September 30, 2016 and 2015 . For the nine months ended September 30, 2016 and 2015 , the aggregate intangible asset amortization expense was $ 38,000 and $ 25,000 , respectively.

Post Retirement Benefits

Post Retirement Benefits	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Post Retirement Benefits	Post Retirement Benefits The components of expense for Core Molding Technologies’ post-retirement benefit plans for the three and nine months ended September 30, 2016 and 2015 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Pension expense: Multi-employer plan $ 168,000 $ 218,000 $ 538,000 $ 646,000 Defined contribution plan 165,000 222,000 578,000 629,000 Total pension expense 333,000 440,000 1,116,000 1,275,000 Health and life insurance: Interest cost 81,000 79,000 243,000 237,000 Amortization of prior service costs (124,000 ) (124,000 ) (372,000 ) (372,000 ) Amortization of net loss 38,000 42,000 116,000 126,000 Net periodic benefit cost (5,000 ) (3,000 ) (13,000 ) (9,000 ) Total post retirement benefits expense $ 328,000 $ 437,000 $ 1,103,000 $ 1,266,000 The Company made payments of $1,273,000 to pension plans and $271,000 for post-retirement healthcare and life insurance during the nine months ended September 30, 2016 . For the remainder of 2016 , the Company expects to make approximately $218,000 of pension plan payments, of which $66,000 was accrued at September 30, 2016 . The Company also expects to make approximately $136,000 of post-retirement healthcare and life insurance payments for the remainder of 2016 , all of which were accrued at September 30, 2016 .

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following: September 30, December 31, Term loan payable to Key Bank, interest at a variable rate (2.36% at September 30, 2016 and 2.24% at December 31, 2015) with monthly payments of interest and principal through March 2020. $ 10,500,000 $ 12,750,000 Capex loan payable to Key Bank, interest at a variable rate (2.04% at December 31, 2015) with monthly payments of interest and principal through May 2016. — 714,000 Total 10,500,000 13,464,000 Less current portion (3,000,000 ) (3,714,000 ) Long-term debt $ 7,500,000 $ 9,750,000 Credit Agreement In 2008, the Company and its wholly owned subsidiary, CoreComposites de Mexico, S. de R.L. de C.V., entered into a credit agreement (the “Credit Agreement”) with Key Bank National Association to refinance certain existing debt and borrow funds to finance the construction of the Company’s manufacturing facility in Mexico. Under this Credit Agreement, as amended, the Company received certain loans, subject to the terms and conditions stated in the agreement, which included (1) a $12,000,000 Capex loan; (2) a $18,000,000 variable rate revolving line of credit. The Credit Agreement is secured by a guarantee of each U.S. subsidiary of the Company and by a lien on substantially all of the present and future assets of the Company and its U.S. subsidiaries, except that only 65% of the stock issued by CoreComposites de Mexico, S. de C.V. has been pledged. On March 20, 2015, the Company and its wholly owned subsidiary, CoreComposites de Mexico, S. de R.L. de C.V., entered into a tenth amendment (the “Tenth Amendment”) to the Credit Agreement. Pursuant to the terms of the Tenth Amendment, the parties agreed to modify certain terms of the Credit Agreement. These modifications included an extension of the commitment period for the revolving line of credit to May 31, 2017 and an agreement to make a term loan in an original amount of $15,500,000 to finance the acquisition of CPI assets. On March 30, 2015, the Company repaid $500,000 of unused proceeds from the original term loan. On June 21, 2016, the Company and its wholly owned subsidiary, Corecomposites de Mexico, S. DE R.L. DE C.V., entered into an eleventh amendment (the "Eleventh Amendment") to the Credit Agreement. Pursuant to the terms of the Eleventh Amendment, the parties agreed to modify certain terms of the Credit Agreement. These modifications included an extension of the commitment period on the revolving line of credit to May 31, 2018 and an increase in the letter of credit commitment from $100,000 to $250,000 , as provided in the Credit Agreement. Revolving Line of Credit The $18,000,000 revolving line of credit is collateralized by all of the present and future assets of the Company and its U.S. subsidiaries (except that only 65% of the stock issued by CoreComposites de Mexico, S. de C.V. has been pledged). The revolving line of credit, as amended, is scheduled to mature on May 31, 2018. Bank Covenants The Company is required to meet certain financial covenants included in the Credit Agreement with respect to leverage ratios, fixed charge ratios, capital expenditures as well as other customary affirmative and negative covenants. As of September 30, 2016 , the Company was in compliance with its financial covenants associated with the loans made under the Credit Agreement as described above. Interest Rate Swap On December 18, 2008, the Company entered into an interest rate swap agreement that became effective May 1, 2009 and continued through May 2016, which was designated as a cash flow hedge of the $12,000,000 Capex loan. Under this agreement, the Company paid a fixed rate of 2.295% to the counterparty and received a variable rate equal to LIBOR . Effective March 31, 2009, the interest terms in the Company’s Credit Agreement related to the $12,000,000 Capex loan were amended. The Company then determined that this interest rate swap was no longer highly effective. As a result, the Company discontinued the use of hedge accounting effective as of March 31, 2009 related to this swap, and began recording mark-to-market adjustments within interest expense in the Company’s Consolidated Statements of Income. The pre-tax loss previously recognized in Accumulated Other Comprehensive Income, totaling $146,000 as of March 31, 2009, was amortized as an increase to interest expense of approximately $2,000 per month, or $1,000 net of tax, through March 31, 2016. The fair value of the swap as of September 30, 2016 and December 31, 2015 was a liability of $ 0 and $ 2,000 , respectively. The Company recorded interest income of $ 0 and $ 9,000 for a mark-to-market adjustment of swap fair value for the three months ended September 30, 2016 and 2015 , respectively, related to this swap. The Company recorded interest income for the nine months ended September 30, 2016 and 2015 , of $ 2,000 and $ 30,000 , respectively, for mark-to-market adjustments of this swap. The notional amount of the swap at September 30, 2016 and December 31, 2015 was $ 0 and $ 714,000 , respectively. Interest expense included $ 0 and $ 7,000 of expense for settlements related to the Company's swaps for the three months ended September 30, 2016 and 2015 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s consolidated balance sheets include a net current deferred tax asset of $ 1,575,000 and $ 1,598,000 at September 30, 2016 and December 31, 2015 , respectively, and a net non-current deferred tax liability of $ 2,252,000 at each of September 30, 2016 and December 31, 2015 . The Company evaluates the balance of deferred tax assets that will be realized. Such evaluations are based on the premise that the Company is more likely than not to realize deferred tax benefits through the generation of future taxable income. Income tax expense for the nine months ended September 30, 2016 is estimated to be $ 2,794,000 , or approximately 34% of income before income taxes. Income tax expense for the nine months ended September 30, 2015 was estimated to be $ 5,069,000 , or approximately 34% of income before income taxes. As of September 30, 2016 and December 31, 2015 , the Company had no liability for unrecognized tax benefits. The Company does not anticipate that unrecognized tax benefits will significantly change within the next twelve months. The Company files income tax returns in the U.S., Mexico and various state jurisdictions. The Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years prior to 2013, and is no longer subject to Mexican income tax examinations by Mexican authorities for years prior to 2011.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2016
Share-based Compensation [Abstract]
Stock Based Compensation	Share Based Compensation The Company has a Long Term Equity Incentive Plan (the “2006 Plan”), as approved by the Company’s stockholders in May 2006 and as amended in May 2015. The 2006 Plan allows for grants to directors and employees of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, performance shares, performance units and other incentive awards (“Stock Awards”) up to an aggregate of 3,000,000 awards, each representing a right to buy a share of Core Molding Technologies common stock. Stock Awards can be granted under the 2006 Plan through the earlier of December 31, 2025, or the date the maximum number of available awards under the 2006 Plan have been granted. Restricted Stock The Company grants shares of its common stock to certain directors, officers, and key managers in the form of unvested stock (“Restricted Stock”). These awards are recorded at the market value of Core Molding Technologies’ common stock on the date of issuance and amortized ratably as compensation expense over the applicable vesting period. The following summarizes the status of Restricted Stock and changes during the nine months ended September 30, 2016 : Number of Shares Weighted Average Grant Date Fair Value Unvested balance at December 31, 2015 112,907 $ 16.86 Granted 121,092 12.55 Vested (49,183 ) 14.16 Forfeited (28,426 ) 15.93 Unvested balance at September 30, 2016 156,390 $ 14.54 At September 30, 2016 and 2015 , there was $ 1,580,000 and $ 1,449,000 , respectively, of total unrecognized compensation expense related to Restricted Stock granted under the 2006 Plan. That cost is expected to be recognized over the weighted-average period of 1.6 years. Total compensation cost related to restricted stock grants for the three months ended September 30, 2016 and 2015 was $ 197,000 and $ 183,000 , respectively, all of which was recorded to selling, general and administrative expense. Compensation cost related to restricted stock grants for the nine months ended September 30, 2016 and 2015 was $ 778,000 and $ 609,000 , respectively, all of which was recorded to selling, general and administrative expense. Compensation expense for restricted stock is recorded at the fair value at the time of the grant over the vesting period of the restricted stock grant. The Company does not receive a tax deduction for restricted stock until the restricted stock vests. The tax deduction for restricted stock is based on the fair market value as of the vesting date. Tax expense due for the fair market value as of the grant date in excess of the vested restricted stock was $ 16,000 for the nine months ended September 30, 2016 . Tax benefits received for vested restricted stock in excess of the fair market value as of the grant date was $ 145,000 for the nine months ended September 30, 2015 . During the nine months ended September 30, 2016 and 2015 , employees surrendered 10,590 and 12,141 shares, respectively, of the Company's common stock to satisfy income tax withholding obligations in connection with the vesting of restricted stock.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants as of the measurement date. Fair value is measured using the fair value hierarchy and related valuation methodologies as defined in the authoritative literature. This guidance provides a fair value framework that requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1 - Quoted prices in active markets for identical assets and liabilities. Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 - Significant unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability. The Company’s financial instruments consist of debt, interest rate swaps, foreign currency derivatives, accounts receivable, and accounts payable. The carrying amount of these financial instruments approximated their fair value. During 2016, the Company had two Level 2 fair value measurements, which related to the Company’s interest rate swap and foreign currency derivatives. Interest rate swap The Company utilized interest rate swap contracts to manage its targeted mix of fixed and floating rate debt, and these swaps are valued using observable benchmark rates at commonly quoted intervals for the full term of the swaps (market approach). The interest rate swap, discussed in detail in Note 8, was deemed immaterial to the financial statements. There were no non-recurring fair value measurements for the nine months ended September 30, 2016 . Derivative and hedging activities The Company conducts business in Mexico and pays certain expenses in Mexican Pesos. The Company is exposed to foreign currency exchange risk between the U.S. dollar and the Mexican Peso, which could impact the Company’s operating income and cash flows. To mitigate risk associated with foreign currency exchange, the Company entered into forward contracts to exchange a fixed amount of U.S. dollars for a fixed amount of Mexican Pesos, which will be used to fund future peso cash flows. At inception, all forward contracts are formally documented as cash flow hedges and are measured at fair value each reporting period. Derivatives are formally assessed both at inception and at least quarterly thereafter, to ensure that derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged item. If it is determined that a derivative ceases to be a highly effective hedge, or if the anticipated transaction is no longer probable of occurring, hedge accounting is discontinued, and any future mark-to-market adjustments are recognized in earnings. The effective portion of gain or loss is reported in other comprehensive income and the ineffective portion is reported in earnings. The impacts of these contracts were largely offset by gains and losses resulting from the impact of changes in exchange rates on transactions denominated in the Mexican Peso. As of September 30, 2016 , the Company had no ineffective portion related to the cash flow hedges. Financial statements impacts The following tables detail amounts related to our derivatives designated as hedging instruments as of September 30, 2016 : Fair Values of Derivatives Instruments Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign exchange contracts Prepaid expense other current assets $ 67,000 Accrued liabilities other $ — Notional contract values $ 5,772,000 $ — The Company had no derivatives designated as hedging instruments as of December 31, 2015 . The following tables summarize the amount of unrealized / realized gain and loss recognized in Accumulated Comprehensive Income (AOCI) for the three months ended September 30, 2016 and 2015: Derivatives in subtopic 815-20 Cash Flow Hedging Relationship Amount of Unrealized Gain or (Loss) Recognized in Accumulated other Comprehensive Income on Derivative Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (A) Amount of Realized Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income 2016 2015 2016 2015 Foreign exchange contracts $ 67,000 $ — Cost of goods sold $ — $ — Sales, general and administrative expense $ — $ — The following tables summarize the amount of unrealized / realized gain and loss recognized in Accumulated Comprehensive Income (AOCI) for the nine months ended September 30, 2016 and 2015: Derivatives in subtopic 815-20 Cash Flow Hedging Relationship Amount of Unrealized Gain or (Loss) Recognized in Accumulated other Comprehensive Income on Derivative Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (A) Amount of Realized Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income 2016 2015 2016 2015 Foreign exchange contracts $ 67,000 $ — Cost of goods sold $ — $ — Sales, general and administrative expense $ — $ — (A) The foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is allocated to cost of goods sold and sales, general and administrative expense based on the percentage of Mexican Peso spend.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Notes)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Accumulated Other Comprehensive Income The following table presents changes in Accumulated Other Comprehensive Income, net of tax, for the nine months ended September 30, 2016 and 2015 : 2015: Foreign Currency Derivative Activities (A) Post Retirement Benefit Plan Items (B) Accumulated Other Comprehensive Income Balance at December 31, 2014 $ — $ 2,830,000 $ 2,830,000 Other Comprehensive Income before reclassifications — — — Amounts reclassified from accumulated other comprehensive income — (230,000 ) (230,000 ) Income tax benefit — 68,000 68,000 Balance at September 30, 2015 $ — $ 2,668,000 $ 2,668,000 2016: Balance at December 31, 2015 $ — $ 2,645,000 $ 2,645,000 Other Comprehensive Income before reclassifications 67,000 — 67,000 Amounts reclassified from accumulated other comprehensive income — (251,000 ) (251,000 ) Income tax benefit (expense) (23,000 ) 75,000 52,000 Balance at September 30, 2016 $ 44,000 $ 2,469,000 $ 2,513,000 (A) The foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is allocated to cost of goods sold and sales, general and administrative expense based on the percentage of Mexican Peso spend. The tax effect of the foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income. (B) The Company has historically disclosed both interest rate swap activity and post-retirement benefit activity, however due to immaterial interest rate swap activity the components have been combined. The effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in total cost of sales on the Consolidated Statements of Income. These Accumulated Other Comprehensive Income components are included in the computation of net periodic benefit cost (see Note 7 "Post Retirement Benefits" for additional details). The tax effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. ASC Topic 606 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASC Topic 606 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The effective date for ASC Topic 606, as updated by ASU No. 2015-14 in August 2015, has been delayed until the first quarter of fiscal year 2018. The Company is currently assessing the transition alternatives and potential impact the pronouncement and adoption of ASC Topic 606 will have on the Company’s financial statements. Early adoption is permitted, but not before annual periods beginning after December 15, 2016. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740). This update requires all deferred tax assets and liabilities, and any related valuation allowance, to be classified as noncurrent on the balance sheet. The ASU simplifies the current standard, which requires entities to separately present deferred tax assets and liabilities as current and noncurrent in a classified balance sheet. The ASU is effective for annual reporting periods beginning on or after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company will adopt this standard's update as required and does not expect the adoption of this ASU to have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This update requires organizations to recognize lease assets and lease liabilities on the balance sheet and also disclose key information about leasing arrangements. This ASU is effective for annual reporting periods beginning on or after December 15, 2018, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual period. The Company will adopt this standard's update as required and does not expect the adoption of this ASU to have a material impact on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718) ("ASU 2016-09") as part of the FASB simplification initiative. The new standard provides for changes to accounting for stock compensation including 1) excess tax benefits and tax deficiencies related to share based payment awards will be recognized as income tax expense in the reporting period in which they occur; 2) excess tax benefits will be classified as an operating activity in the statement of cash flow; 3) the option to elect to estimate forfeitures or account for them when they occur; and 4) increases the tax withholding requirement threshold to qualify for equity classification. The ASU is effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the impact that ASU 2016-09 will have on the consolidated financial statements. In August 2016, FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"). The new standard provides clarification on the classification of the following eight specific cash flow issues: 1) debt prepayments or debt extinguishment costs, 2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of borrowing, 3) contingent consideration payments made after a business combination, 4) proceeds from the settlement of insurance claims, 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, 6) distributions received from equity method investees, 7) beneficial interests in securitization transactions and 8) separately identifiable cash flows and application of the predominance principle. The ASU is effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2017 and early adoption is permitted. The Company will adopt this standard update as required and does not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of basic and diluted net income per common share:	The computation of basic and diluted net income per common share is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net income $ 1,029,000 $ 2,484,000 $ 5,379,000 $ 9,719,000 Weighted average common shares outstanding — basic 7,635,000 7,597,000 7,616,000 7,578,000 Effect of dilutive securities 32,000 28,000 33,000 45,000 Weighted average common and potentially issuable common shares outstanding — diluted 7,667,000 7,625,000 7,649,000 7,623,000 Basic net income per common share $ 0.13 $ 0.33 $ 0.71 $ 1.28 Diluted net income per common share $ 0.13 $ 0.33 $ 0.70 $ 1.27

Major Customers (Tables)

Major Customers (Tables)	9 Months Ended
	Sep. 30, 2016
Revenue, Net [Abstract]
Schedule of Major Customers	The following table presents sales revenue for the above-mentioned customers for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Navistar product sales $ 9,575,000 $ 12,219,000 $ 31,304,000 $ 38,520,000 Navistar tooling sales 470,000 2,325,000 1,166,000 3,373,000 Total Navistar sales 10,045,000 14,544,000 32,470,000 41,893,000 Volvo product sales 6,337,000 13,080,000 23,465,000 41,720,000 Volvo tooling sales 5,353,000 387,000 5,801,000 1,585,000 Total Volvo sales 11,690,000 13,467,000 29,266,000 43,305,000 PACCAR product sales 6,887,000 8,409,000 18,434,000 27,567,000 PACCAR tooling sales 18,000 63,000 3,454,000 819,000 Total PACCAR sales 6,905,000 8,472,000 21,888,000 28,386,000 Yamaha product sales 3,602,000 2,067,000 11,658,000 11,551,000 Yamaha tooling sales — — — — Total Yamaha sales 3,602,000 2,067,000 11,658,000 11,551,000 Other product sales 7,415,000 8,468,000 28,298,000 26,254,000 Other tooling sales 1,679,000 1,031,000 2,230,000 1,116,000 Total other sales 9,094,000 9,499,000 30,528,000 27,370,000 Total product sales 33,816,000 44,243,000 113,159,000 145,612,000 Total tooling sales 7,520,000 3,806,000 12,651,000 6,893,000 Total sales $ 41,336,000 $ 48,049,000 $ 125,810,000 $ 152,505,000

Property, Plant & Equipment (Ta

Property, Plant & Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment [Table]	Property, Plant & Equipment Property, plant and equipment consisted of the following for the periods specified: September 30, 2016 December 31, 2015 Property, plant and equipment $ 139,885,000 $ 137,996,000 Accumulated depreciation (68,673,000 ) (63,893,000 ) Property, plant and equipment — net $ 71,212,000 $ 74,103,000

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2016
CPI [Member]
Acquisition of CPI [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Accounts Receivable $ 1,615,000 Inventory 675,000 Other Current Assets 171,000 Property and Equipment 12,474,000 Intangibles 650,000 Goodwill 1,306,000 Accounts Payable (2,277,000 ) Other Current Liabilities (102,000 ) $ 14,512,000

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill [Line Items]
Schedule of Goodwill [Table Text Block]	Goodwill activity for the nine months ended September 30, 2016 consisted of the following: Balance at December 31, 2015 $ 2,403,000 Additions — Impairment — Balance at September 30, 2016 $ 2,403,000

Goodwill and Intangibles Intang

Goodwill and Intangibles Intangibles (Tables)	9 Months Ended
	Sep. 30, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Intangible assets at September 30, 2016 were comprised of the following: Definite-lived Intangible Assets Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade Name 25 years $ 250,000 $ (15,000 ) $ 235,000 Customer Relationships 10 years 400,000 (60,000 ) 340,000 $ 650,000 $ (75,000 ) $ 575,000

Post Retirement Benefits (Table

Post Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The components of expense for Core Molding Technologies’ post-retirement benefit plans for the three and nine months ended September 30, 2016 and 2015 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Pension expense: Multi-employer plan $ 168,000 $ 218,000 $ 538,000 $ 646,000 Defined contribution plan 165,000 222,000 578,000 629,000 Total pension expense 333,000 440,000 1,116,000 1,275,000 Health and life insurance: Interest cost 81,000 79,000 243,000 237,000 Amortization of prior service costs (124,000 ) (124,000 ) (372,000 ) (372,000 ) Amortization of net loss 38,000 42,000 116,000 126,000 Net periodic benefit cost (5,000 ) (3,000 ) (13,000 ) (9,000 ) Total post retirement benefits expense $ 328,000 $ 437,000 $ 1,103,000 $ 1,266,000

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplemental [Abstract]
Schedule of Debt	Debt consists of the following: September 30, December 31, Term loan payable to Key Bank, interest at a variable rate (2.36% at September 30, 2016 and 2.24% at December 31, 2015) with monthly payments of interest and principal through March 2020. $ 10,500,000 $ 12,750,000 Capex loan payable to Key Bank, interest at a variable rate (2.04% at December 31, 2015) with monthly payments of interest and principal through May 2016. — 714,000 Total 10,500,000 13,464,000 Less current portion (3,000,000 ) (3,714,000 ) Long-term debt $ 7,500,000 $ 9,750,000

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Share-based Compensation [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	The following summarizes the status of Restricted Stock and changes during the nine months ended September 30, 2016 : Number of Shares Weighted Average Grant Date Fair Value Unvested balance at December 31, 2015 112,907 $ 16.86 Granted 121,092 12.55 Vested (49,183 ) 14.16 Forfeited (28,426 ) 15.93 Unvested balance at September 30, 2016 156,390 $ 14.54

Fair Value of Financial Instr31

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives in subtopic 815-20 Cash Flow Hedging Relationship Amount of Unrealized Gain or (Loss) Recognized in Accumulated other Comprehensive Income on Derivative Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (A) Amount of Realized Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income 2016 2015 2016 2015 Foreign exchange contracts $ 67,000 $ — Cost of goods sold $ — $ — Sales, general and administrative expense $ — $ — Derivatives in subtopic 815-20 Cash Flow Hedging Relationship Amount of Unrealized Gain or (Loss) Recognized in Accumulated other Comprehensive Income on Derivative Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (A) Amount of Realized Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income 2016 2015 2016 2015 Foreign exchange contracts $ 67,000 $ — Cost of goods sold $ — $ — Sales, general and administrative expense $ — $ —
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Values of Derivatives Instruments Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign exchange contracts Prepaid expense other current assets $ 67,000 Accrued liabilities other $ — Notional contract values $ 5,772,000 $ —

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in Accumulated Other Comprehensive Income, net of tax, for the nine months ended September 30, 2016 and 2015 : 2015: Foreign Currency Derivative Activities (A) Post Retirement Benefit Plan Items (B) Accumulated Other Comprehensive Income Balance at December 31, 2014 $ — $ 2,830,000 $ 2,830,000 Other Comprehensive Income before reclassifications — — — Amounts reclassified from accumulated other comprehensive income — (230,000 ) (230,000 ) Income tax benefit — 68,000 68,000 Balance at September 30, 2015 $ — $ 2,668,000 $ 2,668,000 2016: Balance at December 31, 2015 $ — $ 2,645,000 $ 2,645,000 Other Comprehensive Income before reclassifications 67,000 — 67,000 Amounts reclassified from accumulated other comprehensive income — (251,000 ) (251,000 ) Income tax benefit (expense) (23,000 ) 75,000 52,000 Balance at September 30, 2016 $ 44,000 $ 2,469,000 $ 2,513,000 (A) The foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is allocated to cost of goods sold and sales, general and administrative expense based on the percentage of Mexican Peso spend. The tax effect of the foreign currency derivative activity reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income. (B) The Company has historically disclosed both interest rate swap activity and post-retirement benefit activity, however due to immaterial interest rate swap activity the components have been combined. The effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in total cost of sales on the Consolidated Statements of Income. These Accumulated Other Comprehensive Income components are included in the computation of net periodic benefit cost (see Note 7 "Post Retirement Benefits" for additional details). The tax effect of post-retirement benefit items reclassified from Accumulated Other Comprehensive Income is included in income tax expense on the Consolidated Statements of Income.

Net Income per Common Share (De

Net Income per Common Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net income	$ 1,029,000	$ 2,484,000	$ 5,379,000	$ 9,719,000
Weighted average common shares outstanding — basic	7,635,000	7,597,000	7,616,000	7,578,000
Weighted Average Number Diluted Shares Outstanding Adjustment	32,000	28,000	33,000	45,000
Weighted average common and potentially issuable common shares outstanding — diluted	7,667,000	7,625,000	7,649,000	7,623,000
Basic net income per common share (USD per share)	$ 0.13	$ 0.33	$ 0.71	$ 1.28
Diluted net income per common share (USD per share)	$ 0.13	$ 0.33	$ 0.70	$ 1.27

Major Customers (Details)

Major Customers (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	$ 33,816,000	$ 44,243,000	$ 113,159,000	$ 145,612,000
Contracts Revenue	7,520,000	3,806,000	12,651,000	6,893,000
Revenue, Net	41,336,000	48,049,000	125,810,000	152,505,000
Navistar [Member]
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	9,575,000	12,219,000	31,304,000	38,520,000
Contracts Revenue	470,000	2,325,000	1,166,000	3,373,000
Revenue, Net	10,045,000	14,544,000	32,470,000	41,893,000
Volvo [Member]
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	6,337,000	13,080,000	23,465,000	41,720,000
Contracts Revenue	5,353,000	387,000	5,801,000	1,585,000
Revenue, Net	11,690,000	13,467,000	29,266,000	43,305,000
Paccar [Member]
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	6,887,000	8,409,000	18,434,000	27,567,000
Contracts Revenue	18,000	63,000	3,454,000	819,000
Revenue, Net	6,905,000	8,472,000	21,888,000	28,386,000
Yamaha [Member]
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	3,602,000	2,067,000	11,658,000	11,551,000
Contracts Revenue	0	0	0	0
Revenue, Net	3,602,000	2,067,000	11,658,000	11,551,000
Other Customers [Member]
Revenue, Major Customer [Line Items]
Sales Revenue, Goods, Net	7,415,000	8,468,000	28,298,000	26,254,000
Contracts Revenue	1,679,000	1,031,000	2,230,000	1,116,000
Revenue, Net	$ 9,094,000	$ 9,499,000	$ 30,528,000	$ 27,370,000

Property, Plant & Equipment (De

Property, Plant & Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 139,885,000		$ 137,996,000
Accumulated depreciation	(68,673,000)		(63,893,000)
Property, plant and equipment — net	71,212,000		74,103,000
Capital expenditures in progress	1,516,000		2,331,000
Capitalized interest expense	0	$ 2,000
Commitments for capital expenditures in progress	$ 1,013,000		$ 1,102,000

Business Combination (Details)

Business Combination (Details) - CPI [Member] - USD ($)	9 Months Ended
	Sep. 30, 2015	Mar. 20, 2015
Business Combination, Separately Recognized Transactions [Line Items]
Cash		$ 1,615,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		675,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		171,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		12,474,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill and Other Intangibles		650,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill		1,306,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(2,277,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		(102,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		14,512,000
Business Acquisitions, Gross Purchase Price		15,000,000
Business Combination, Reduction in Purchase Price		$ 488,000
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed	$ 303,000

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Mar. 20, 2015
Goodwill [Line Items]
Goodwill	$ 2,403,000	$ 2,403,000
Additions to Goodwill	0
Goodwill, Impairment Loss	$ 0
CPI [Member]
Goodwill [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill			$ 1,306,000

Goodwill and Intangibles Inta38

Goodwill and Intangibles Intangibles by Major Asset Class (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 13,000	$ 13,000	$ 38,000	$ 25,000
Finite-Lived Intangible Assets, Gross	650,000		650,000
Finite-Lived Intangible Assets, Accumulated Amortization	(75,000)		(75,000)
Finite-Lived Intangible Assets, Net	575,000		$ 575,000
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			25 years
Finite-Lived Intangible Assets, Gross	250,000		$ 250,000
Finite-Lived Intangible Assets, Accumulated Amortization	(15,000)		(15,000)
Finite-Lived Intangible Assets, Net	235,000		$ 235,000
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			10 years
Finite-Lived Intangible Assets, Gross	400,000		$ 400,000
Finite-Lived Intangible Assets, Accumulated Amortization	(60,000)		(60,000)
Finite-Lived Intangible Assets, Net	$ 340,000		$ 340,000

Post Retirement Benefits (Detai

Post Retirement Benefits (Details) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Pension, health and life insurance expense:
Multi-employer plan contributions	$ 168,000	$ 218,000		$ 538,000	$ 646,000
Defined contribution plan contributions	165,000	222,000		578,000	629,000
Total pension expense	333,000	440,000		1,116,000	1,275,000
Interest cost	81,000	79,000		243,000	237,000
Amortization of prior service costs	(124,000)	(124,000)		(372,000)	(372,000)
Amortization of net loss	38,000	42,000		116,000	126,000
Net periodic benefit cost	(5,000)	(3,000)		(13,000)	(9,000)
Total post retirement benefits expense	328,000	$ 437,000		1,103,000	$ 1,266,000
Payments to pension plans				1,273,000
Payments for post retirement healthcare and life insurance				271,000
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accrued Expected Pension Plan Payments	$ 66,000			$ 66,000
Scenario, Forecast [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected payments to pension plans			$ 218,000
Expected future payments for other post retirement benefits			$ 136,000

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Mar. 31, 2009
Debt Instrument [Line Items]
Debt	$ 10,500,000			$ 10,500,000		$ 13,464,000
Less current portion	(3,000,000)			(3,000,000)		(3,714,000)
Long-term debt	$ 7,500,000			$ 7,500,000		9,750,000
Percent of subsidiary stock not security for financing	65.00%			65.00%
Letter of Credit, Maximum	$ 250,000			$ 250,000		100,000
Capex Loan Swap Agreement [Member]
Debt Instrument [Line Items]
Derivative, Fixed Interest Rate	2.295%			2.295%
Derivative, Description of Variable Rate Basis				LIBOR
Description of Reclassification of Cash Flow Hedge Gain (Loss)				The pre-tax loss previously recognized in Accumulated Other Comprehensive Income, totaling $146,000 as of March 31, 2009, was amortized as an increase to interest expense of approximately $2,000 per month, or $1,000 net of tax, through March 31, 2016.
Interest rate swaps	$ 0			$ 0		2,000
Interest income (loss) for mark-to-market adjustment of swap fair value	0	$ 9,000		2,000	$ 30,000
Derivative, Notional Amount	0			0		$ 714,000
Interest expense for settlements related to swaps	$ 0	$ (7,000)		(2,000)	(27,000)
Capex Loan Swap Agreement [Member] | Accumulated Other-than-Temporary Impairment [Member]
Debt Instrument [Line Items]
Pre-Tax Loss							$ 146,000
Amortization of Pre-Tax Loss to Interest Expense, Before Tax, Monthly				2,000
Amortization of Pre-Tax Loss to Interest Expense, Net of Tax, Monthly				$ 1,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage
Maximum borrowing capacity	$ 18,000,000			$ 18,000,000
Debt Instrument, Basis Spread on Variable Rate				1.60%
Term Loan [Member]
Debt Instrument [Line Items]
Debt	$ 10,500,000			$ 10,500,000		$ 12,750,000
Debt Instrument, Interest Rate, Stated Percentage	2.36%			2.36%		2.24%
Proceeds from (Repayments of) Debt				$ 0	15,500,000
Repayments of Short-term Debt			$ 500,000	$ 2,250,000	2,000,000
Capex Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.00%			0.00%		2.04%
Debt - face amount	$ 12,000,000			$ 12,000,000
Repayments of Short-term Debt				$ 714,000	$ 1,285,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Net of Valuation Allowance, Current	$ 1,575,000		$ 1,575,000		$ 1,598,000
Deferred Tax Liabilities, Net, Noncurrent	2,252,000		2,252,000		$ 2,252,000
Income tax expense (benefit)	561,000	$ 1,323,000	$ 2,794,000	$ 5,069,000
Effective income tax rate			34.00%	34.00%
Unrecognized Tax Benefits	$ 0		$ 0

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized					3,000,000
Tax benefit recorded to additional paid in capital			$ 16,000	$ 145,000
Weighted Average Grant Date Fair Value of Restricted Stock
Shares Paid for Tax Withholding for Share Based Compensation			10,590	12,141
Restricted Stock [Member]
Restricted Stock Rollforward, Shares
Unvested balance at December 31, 2015			112,907
Granted			121,092
Vested			(49,183)
Forfeited			(28,426)
Unvested balance at Period End	156,390		156,390
Weighted Average Grant Date Fair Value of Restricted Stock
Unvested balance at December 31, 2015, USD per share	$ 14.54		$ 14.54		$ 14.54	$ 16.86
Granted, USD per share			12.55
Vested, USD per share			14.16
Forfeited, USD per share			15.93
Unvested balance at Period End, USD per share	$ 14.54		$ 14.54
Unrecognized compensation expense		$ 1,449,000		$ 1,449,000	$ 1,580,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	1 year 7 months
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs	$ 197,000	$ 183,000	$ 778,000	$ 609,000

Fair Value of Financial Instr43

Fair Value of Financial Instruments (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-Recurring Fair Value Measurements	$ 0
Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 67,000	$ 0
Description of Location of Foreign Currency Derivatives on Balance Sheet	Prepaid expense other current assets
Derivative, Notional Amount	$ 5,772,000
Liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Description of Location of Foreign Currency Derivatives on Balance Sheet	Accrued liabilities other
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 0	$ 0
Derivative, Notional Amount	$ 0

Fair Value of Financial Instr44

Fair Value of Financial Instruments Derivative Instruments and Hedging Activities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Loss on Foreign Currency Derivatives, before Tax	$ 67,000	$ 0	$ 67,000	$ 0
Selling, General and Administrative Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0	0
Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 0	$ 0

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 2,513,000	$ 2,668,000	$ 2,513,000	$ 2,668,000	$ 2,645,000	$ 2,830,000
Unrealized Loss on Foreign Currency Derivatives, before Tax			67,000	0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Before Tax			(251,000)	(230,000)
Unrealized Foreign Currency Hedge Gain (Loss), Tax	(23,000)	0	(23,000)	0
Other Comprehensive Income (Loss), Tax			52,000	68,000
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	2,469,000	2,668,000	2,469,000	2,668,000	2,645,000	2,830,000
Unrealized Loss on Foreign Currency Derivatives, before Tax			0	0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Before Tax			(251,000)	(230,000)
Other Comprehensive Income (Loss), Tax			75,000	68,000
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 44,000	$ 0	44,000	0	$ 0	$ 0
Unrealized Loss on Foreign Currency Derivatives, before Tax			67,000	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net			0	0
Unrealized Foreign Currency Hedge Gain (Loss), Tax			$ (23,000)
Other Comprehensive Income (Loss), Tax				$ 0