Weyco (WEYS) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	WEYCO GROUP INC
Entity Central Index Key	0000106532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	WEYS
Entity Common Stock, Shares Outstanding		9,887,833
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS:
Cash and cash equivalents	$ 9,055	$ 22,973
Marketable securities, at amortized cost	6,543	1,525
Accounts receivable, net	56,827	51,533
Inventories	81,340	72,684
Prepaid expenses and other current assets	3,512	5,380
Total current assets	157,277	154,095
Marketable securities, at amortized cost	16,547	18,702
Deferred income tax benefits	1,182	1,277
Property, plant and equipment, net	30,496	28,707
Operating lease right-of-use assets	19,822	0
Goodwill	11,112	11,112
Trademarks	32,868	32,868
Other assets	23,569	23,283
Total assets	292,873	270,044
LIABILITIES AND EQUITY:
Short-term borrowings	16,862	5,840
Accounts payable	6,343	12,764
Dividend payable	0	2,308
Operating lease liabilities	6,817	0
Accrued liabilities	12,488	14,306
Accrued income tax payable	1,290	912
Total current liabilities	43,800	36,130
Deferred income tax liabilities	3,541	3,724
Long-term pension liability	23,079	23,112
Operating lease liabilities	14,460	0
Other long-term liabilities	343	1,495
Total liabilities	85,223	64,461
Common stock	9,941	10,057
Capital in excess of par value	65,482	64,263
Reinvested earnings	153,933	152,835
Accumulated other comprehensive loss	(21,706)	(21,572)
Total equity	207,650	205,583
Total liabilities and equity	$ 292,873	$ 270,044

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
Net sales	$ 82,502	$ 78,375	$ 217,106	$ 208,789
Cost of sales	50,196	47,984	131,633	128,067
Gross earnings	32,306	30,391	85,473	80,722
Selling and administrative expenses	23,817	22,344	69,974	67,161
Earnings from operations	8,489	8,047	15,499	13,561
Interest income	210	252	663	739
Interest expense	(96)	(10)	(162)	(10)
Other income (expense), net	11	(195)	(242)	(414)
Earnings before provision for income taxes	8,614	8,094	15,758	13,876
Provision for income taxes	2,029	1,942	3,691	3,385
Net earnings	6,585	6,152	12,067	10,491
Net loss attributable to noncontrolling interest	0	(124)	0	(398)
Net earnings attributable to Weyco Group, Inc.	$ 6,585	$ 6,276	$ 12,067	$ 10,889
Weighted average shares outstanding
Basic	9,912	10,114	9,933	10,167
Diluted	9,929	10,391	9,996	10,419
Earnings per share
Basic	$ 0.66	$ 0.62	$ 1.21	$ 1.07
Diluted	0.66	0.60	1.21	1.05
Cash dividends declared (per share)	$ 0.24	$ 0.23	$ 0.71	$ 0.68
Comprehensive income	$ 5,990	$ 6,086	$ 11,933	$ 9,551
Comprehensive loss attributable to noncontrolling interest	0	(282)	0	(870)
Comprehensive income attributable to Weyco Group, Inc.	$ 5,990	$ 6,368	$ 11,933	$ 10,421

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 12,067	$ 10,491
Adjustments to reconcile net earnings to net cash (used for) provided by operating activities -
Depreciation	2,478	2,842
Amortization	133	238
Bad debt expense	100	190
Deferred income taxes	(209)	1,353
Net foreign currency transaction (gains) losses	(105)	332
Share-based compensation expense	1,102	1,149
Pension contribution	0	(3,000)
Pension expense	785	522
Increase in cash surrender value of life insurance	(250)	(250)
Changes in operating assets and liabilities -
Accounts receivable	(5,413)	(7,557)
Inventories	(8,622)	180
Prepaid expenses and other assets	1,731	2,756
Accounts payable	(6,418)	(2,928)
Accrued liabilities and other	(1,873)	(4,749)
Accrued income taxes	338	278
Net cash (used for) provided by operating activities	(4,156)	1,847
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	(14,641)	(7,819)
Proceeds from maturities of marketable securities	11,865	7,450
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(4,564)	(876)
Net cash used for investing activities	(7,495)	(1,400)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(9,408)	(9,213)
Cash dividends paid to noncontrolling interest of subsidiary	0	(88)
Payment to acquire noncontrolling interest of subsidiary	0	(3,740)
Shares purchased and retired	(4,029)	(6,589)
Net proceeds from stock options exercised	161	4,308
Taxes paid related to the net share settlement of equity awards	(5)	(699)
Proceeds from bank borrowings	113,711	20,309
Repayments of bank borrowings	(102,689)	(12,261)
Net cash used for financing activities	(2,259)	(7,973)
Effect of exchange rate changes on cash and cash equivalents	(8)	(177)
Net decrease in cash and cash equivalents	(13,918)	(7,703)
CASH AND CASH EQUIVALENTS at beginning of period	22,973	23,453
CASH AND CASH EQUIVALENTS at end of period	9,055	15,750
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	3,385	1,915
Interest paid	$ 162	$ 10

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 2019
Financial Statements
Financial Statements	1. Financial Statements In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended September 30, 2019, may not necessarily be indicative of the results for the full year.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncement	9 Months Ended
	Sep. 30, 2019
Recently Adopted Accounting Pronouncement
Recently Adopted Accounting Pronouncement	2. Recently Adopted Accounting Pronouncement On January 1, 2019, the Company adopted Accounting Standards Update 2016‑02, Leases , as amended (hereinafter referred to as “ASC 842”), which supersedes the lease accounting guidance under Topic 840. ASC 842 generally requires lessees to recognize lease liabilities and corresponding right-of-use (“ROU”) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. The Company adopted the new guidance using the modified retrospective transition approach by applying the new standard to all leases existing at the date of initial application. The comparative information was not restated and continues to be reported in accordance with historical accounting under Topic 840. The Company elected to utilize certain practical expedients that were provided for transition relief. Accordingly, the Company did not reassess expired or existing contracts, lease classifications or related initial direct costs as part of its assessment process. Additionally, the Company elected not to apply the recognition requirements of ASC 842 to short-term leases. The adoption of ASC 842 had a material impact on the Company’s consolidated condensed balance sheet due to the recognition of ROU assets and lease liabilities. The Company recognized operating lease ROU assets and corresponding lease liabilities totaling $26.0 million and $27.8 million, respectively, on January 1, 2019. The operating lease ROU assets recorded on the adoption date were net of approximately $1.8 million in reclassifications of other accrued liabilities and long-term liabilities. The adoption did not impact the Company’s beginning retained earnings, nor did it have a material impact on the Company’s consolidated earnings or cash flows.

Update to Significant Accountin

Update to Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Update to Significant Accounting Policies
Update to Significant Accounting Policies	3. Update to Significant Accounting Policies The Company adopted ASC 842 in the first quarter of 2019. As a result, the Company updated its significant accounting policies for leases, as discussed below. Refer to Note 2 for the impact of the adoption on the Company’s consolidated condensed financial statements and Note 9 for additional information related to the Company’s lease arrangements. The Company leases retail shoe stores, primarily located in the U.S. and Australia, as well as several office and distribution facilities worldwide. The Company determines whether an arrangement is or contains a lease at contract inception. All of the Company’s leases are classified as operating leases, which are included in the operating lease ROU assets and operating lease liabilities in the consolidated condensed balance sheets (unaudited). The Company has no finance leases. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement, as well as any variable rate payments that depend on an index, initially measured using the index at the lease commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. As the Company’s leases generally do not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The incremental borrowing rate was a hypothetical rate based on an understanding of what the Company could borrow from a third-party lender, on a collateralized basis, over a similar term, and in an amount that approximates the value of the Company’s future lease payments. The Company used a portfolio approach and applied a single discount rate to all of its leases. Operating lease costs are recognized on a straight-line basis over the lease term and are included in selling and administrative expenses. Variable lease payments that do not depend on a rate or index, payments associated with non-lease components, and short-term rentals (leases with terms less than 12 months) are expensed as incurred.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share
Earnings Per Share	4. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 6,585 $ 6,276 $ 12,067 $ 10,889 Denominator: Basic weighted average shares outstanding 9,912 10,114 9,933 10,167 Effect of dilutive securities: Employee share-based awards 17 277 63 252 Diluted weighted average shares outstanding 9,929 10,391 9,996 10,419 Basic earnings per share $ 0.66 $ 0.62 $ 1.21 $ 1.07 Diluted earnings per share $ 0.66 $ 0.60 $ 1.21 $ 1.05 Diluted weighted average shares outstanding for the three months ended September 30, 2019 excludes anti-dilutive share-based awards totaling 1,382,000 shares of common stock at a weighted average price of $26.56. Diluted weighted average shares outstanding for the nine months ended September 30, 2019 excludes anti-dilutive share-based awards totaling 696,000 shares of common stock at a weighted average price of $28.51. Diluted weighted average shares outstanding for the three months ended September 30, 2018 excludes anti-dilutive share-based awards totaling 151,000 shares of common stock at a weighted average price of $31.58 . Diluted weighted average shares outstanding for the nine months ended September 30, 2018 excludes anti-dilutive share-based awards totaling 179,000 shares of common stock at a weighted average price of $29.78.

Investments

Investments	9 Months Ended
	Sep. 30, 2019
Investments
Investments	5. Investments As noted in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2018, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities, as the Company has the intent and ability to hold all investments to maturity. Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of September 30, 2019, and December 31, 2018. September 30, 2019 December 31, 2018 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 6,543 $ 6,550 $ 1,525 $ 1,532 Due from one through five years 8,621 8,883 9,752 9,861 Due from six through ten years 4,669 5,060 6,239 6,433 Due from eleven through twenty years 3,257 3,478 2,711 2,713 Total $ 23,090 $ 23,971 $ 20,227 $ 20,539 The unrealized gains and losses on marketable securities at September 30, 2019, and at December 31, 2018, were as follows: September 30, 2019 December 31, 2018 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 881 $ — $ 388 $ (76) The estimated market values provided are level 2 valuations as defined by ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Company reviewed its portfolio of investments as of September 30, 2019 and determined that no other-than-temporary market value impairment exists.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2019
Intangible Assets
Intangible Assets	6. Intangible Assets During the nine months ended September 30, 2019, there were no changes in the carrying value of the Company’s indefinite-lived intangible assets (goodwill and trademarks). The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: September 30, 2019 December 31, 2018 Weighted Gross Gross Average Carrying Accumulated Carrying Accumulated Life (Years) Amount Amortization Net Amount Amortization Net (Dollars in thousands) (Dollars in thousands) Amortizable intangible assets Customer relationships 15 $ 3,500 $ (2,003) $ 1,497 $ 3,500 $ (1,828) $ 1,672 Total amortizable intangible assets $ 3,500 $ (2,003) $ 1,497 $ 3,500 $ (1,828) $ 1,672 Amortization expense related to the intangible assets was approximately $58,000 in both the third quarters of 2019 and 2018. For the nine months ended September 30, amortization expense related to the intangible assets was approximately $175,000 in both 2019 and 2018.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Information
Segment Information	7. Segment Information The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the tables below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. Summarized segment data for the three and nine months ended September 30, 2019 and 2018, was as follows: Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 67,193 $ 5,158 $ 9,521 $ 81,872 Licensing revenues 630 — — 630 Net sales $ 67,823 $ 5,158 $ 9,521 $ 82,502 Earnings (loss) from operations $ 9,485 $ 365 $ (1,361) $ 8,489 2018 Product sales $ 62,652 $ 4,942 $ 10,249 $ 77,843 Licensing revenues 532 — — 532 Net sales $ 63,184 $ 4,942 $ 10,249 $ 78,375 Earnings from operations $ 7,611 $ 428 $ 8 $ 8,047 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 171,383 $ 16,124 $ 27,626 $ 215,133 Licensing revenues 1,973 — — 1,973 Net sales $ 173,356 $ 16,124 $ 27,626 $ 217,106 Earnings (loss) from operations $ 16,903 $ 1,249 $ (2,653) $ 15,499 2018 Product sales $ 160,814 $ 14,493 $ 31,685 $ 206,992 Licensing revenues 1,797 — — 1,797 Net sales $ 162,611 $ 14,493 $ 31,685 $ 208,789 Earnings (loss) from operations $ 12,750 $ 856 $ (45) $ 13,561

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 30, 2019
Employee Retirement Plans
Employee Retirement Plans	8. Employee Retirement Plans The components of the Company’s net periodic pension cost were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Service cost $ 116 $ 126 $ 347 $ 427 Interest cost 615 554 1,845 1,652 Expected return on plan assets (625) (741) (1,876) (2,033) Net amortization and deferral 156 157 469 476 Net periodic pension cost $ 262 $ 96 $ 785 $ 522 The components of net periodic pension cost other than the service cost component are included in "other income (expense), net" in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited).

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases
Leases	9. Leases The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2019 and 2033. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of the Company’s operating lease costs were as follows (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating lease costs $ 2,198 $ 6,590 Variable lease costs (1) — 43 Total lease costs $ 2,198 $ 6,633 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts. Short-term lease costs, which were excluded from the above table, are not material to the Company’s financial statements. The following is a schedule of maturities of operating lease liabilities as of September 30, 2019 (dollars in thousands): Operating Leases 2019, excluding the nine months ended September 30, 2019 $ 2,039 2020 7,163 2021 5,562 2022 3,313 2023 2,279 Thereafter 2,941 Total lease payments 23,297 Less imputed interest (2,020) Present value of lease liabilities $ 21,277 The operating lease liabilities are classified in the consolidated condensed balance sheet (unaudited) as follows (dollars in thousands): September 30, 2019 Operating lease liabilities – current $ 6,817 Operating lease liabilities - non-current 14,460 Total $ 21,277 The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of September 30, 2019, the Company’s leases have a weighted-average remaining lease term of 4.6 years. The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands): Operating Leases 2019 $ 9,468 2020 7,529 2021 5,584 2022 3,278 2023 2,321 Thereafter 4,161 Total $ 32,341 Supplemental cash flow information related to the Company’s operating leases is as follows (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 2,278 $ 6,803 Right-of-use assets obtained in exchange for new lease liabilities (noncash) $ — $ 27,002

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2019
Share-Based Compensation Plans
Share-Based Compensation Plans	10. Share-Based Compensation Plans During the three and nine months ended September 30, 2019, the Company recognized $371,000 and $1,102,000 respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2015 through 2019. During the three and nine months ended September 30, 2018, the Company recognized $344,000 and $1,149,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2014 through 2018. The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2019: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2018 1,173,620 $ 26.57 Granted 192,650 $ 23.45 Exercised (18,795) $ 27.75 Forfeited or expired (2,850) $ 31.80 Outstanding at September 30, 2019 1,344,625 $ 27.31 4.4 $ — Exercisable at September 30, 2019 866,830 $ 27.05 2.2 $ — * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company’s stock on September 30, 2019 ($22.61) and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.As of September 30, 2019, there were no in-the-money stock options outstanding, therefore the aggregate intrinsic value was zero. The following table summarizes the Company’s stock option exercise activity for the three and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Total intrinsic value of stock options exercised $ — $ 654 $ 88 $ 3,704 Net proceeds from stock option exercises $ — $ 260 $ 161 $ 4,308 Income tax benefit from the exercise of stock options $ — $ 170 $ 23 $ 963 The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2019: Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2018 61,480 $ 30.74 Issued 31,000 23.48 Vested (23,745) 24.63 Non-vested at September 30, 2019 68,735 $ 28.04 3.0 $ 1,554,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on September 30, 2019 ($22.61) multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2019
Short-Term Borrowings
Short-Term Borrowings	11. Short-Term Borrowings At September 30, 2019, the Company had a $60 million unsecured revolving line of credit with a bank expiring November 5, 2019. The line of credit bears interest at the London Interbank Offered Rate (“LIBOR”) plus 0.75%. At September 30, 2019, outstanding borrowings were approximately $16.9 million at an interest rate of 2.77%. The highest balance on the line of credit during the nine months ended September 30, 2019 was approximately $18.1 million. Subsequent to September 30, 2019, the line of credit agreement was renewed on the same terms for another one-year period, expiring November 5, 2020.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2019
Financial Instruments
Financial Instruments	12. Financial Instruments At September 30, 2019, the Company had foreign exchange contracts outstanding to sell $7.0 million Canadian dollars at a price of approximately $5.3 million U.S. dollars. The Company’s wholly-owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $3.5 million U.S. dollars at a price of approximately $4.9 million Australian dollars . Based on 2019 third quarter-end exchange rates, there were no significant unrealized gains or losses on the outstanding contracts. The Company determines the fair value of foreign exchange contracts based on the difference between the foreign currency contract rates and the widely available foreign currency rates as of the measurement date. The fair value measurements are based on observable market transactions, and thus represent a level 2 valuation as defined by ASC 820.

Comprehensive Income

Comprehensive Income	9 Months Ended
	Sep. 30, 2019
Comprehensive Income
Comprehensive Income	13. Comprehensive Income Comprehensive income for the three and nine months ended September 30, 2019 and 2018, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Net earnings $ 6,585 $ 6,152 $ 12,067 $ 10,491 Foreign currency translation adjustments (711) (182) (481) (1,292) Pension liability, net of tax of $40, $41, $122 and $124, respectively 116 116 347 352 Total comprehensive income $ 5,990 $ 6,086 $ 11,933 $ 9,551 The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: September 30, December 31, 2019 2018 (Dollars in thousands) Foreign currency translation adjustments $ (7,382) $ (6,901) Pension liability, net of tax (14,324) (14,671) Total accumulated other comprehensive loss $ (21,706) $ (21,572) The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2019: Foreign Defined Currency Benefit Translation Pension Adjustments Items Total Beginning balance, December 31, 2018 $ (6,901) $ (14,671) $ (21,572) Other comprehensive loss before reclassifications (481) — (481) Amounts reclassified from accumulated other comprehensive loss — 347 347 Net current period other comprehensive (loss) income (481) 347 (134) Ending balance, September 30, 2019 $ (7,382) $ (14,324) $ (21,706) The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2019: Amounts reclassified from accumulated other comprehensive loss for Affected line item in the the nine months ended statement where net September 30, 2019 income is presented Amortization of defined benefit pension items Prior service cost $ (47) (1) Other expense, net Actuarial losses 516 (1) Other expense, net Total before tax 469 Tax benefit (122) Net of tax $ 347 (1) These amounts were included in the net periodic pension cost. See Note 8 for additional details.

Equity

Equity	9 Months Ended
	Sep. 30, 2019
Equity
Equity	14. Equity The following table reconciles the Company’s equity for the nine months ended September 30, 2019: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Stock Par Value Earnings Loss (Dollars in thousands) Balance, December 31, 2018 $ 10,057 $ 64,263 $ 152,835 $ (21,572) Net earnings — — 3,968 — Foreign currency translation adjustments — — — 130 Pension liability adjustment, net of tax — — — 108 Cash dividends declared — — (2,299) — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 1 6 — — Issuance of restricted stock 1 (1) — — Share-based compensation expense — 366 — — Shares purchased and retired (64) — (1,764) — Balance, March 31, 2019 $ 9,995 $ 64,634 $ 152,740 $ (21,334) Net earnings — — 1,514 — Foreign currency translation adjustments — — — 100 Pension liability adjustment, net of tax — — — 123 Cash dividends declared — — (2,401) — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 7 142 — — Share-based compensation expense — 365 — — Balance, June 30,2019 $ 10,002 $ 65,141 $ 151,853 $ (21,111) Net earnings — — 6,585 — Foreign currency translation adjustments — — — (711) Pension liability adjustment, net of tax — — — 116 Cash dividends declared — — (2,395) — Issuance of restricted stock 30 (30) — — Share-based compensation expense — 371 — — Shares purchased and retired (91) — (2,110) — Balance, September 30, 2019 $ 9,941 $ 65,482 $ 153,933 $ (21,706) The following table reconciles the Company’s equity for the nine months ended September 30, 2018: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859) $ 7,122 Net earnings — — 2,987 — (171) Foreign currency translation adjustments — — — (85) (34) Pension liability adjustment, net of tax — — — 118 — Cash dividends declared — — (2,257) — — Cash dividends paid to noncontrolling interest — — — — (88) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 108 2,776 — — — Restricted stock forfeited (2) 2 — — — Share-based compensation expense — 351 — — — Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826) $ 6,829 Net earnings — — 1,626 — (103) Foreign currency translation adjustments — — — (711) (280) Pension liability adjustment, net of tax — — — 118 — Cash dividends declared — — (2,395) — — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 89 463 — — — Issuance of restricted stock 2 (2) — — — Share-based compensation expense — 454 — — — Shares purchased and retired (199) — (6,390) — — Balance, June 30, 2018 $ 10,160 $ 59,928 $ 143,921 $ (18,419) $ 6,446 Net earnings — — 6,276 — (124) Foreign currency translation adjustments — — — (24) (158) Pension liability adjustment, net of tax — — — 116 — Cash dividends declared — — (2,323) — — Purchase of noncontrolling interest — 3,535 — (1,111) (6,164) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 21 152 — — — Issuance of restricted stock 23 (23) — — — Restricted stock forfeited (2) 2 — — — Share-based compensation expense — 344 — — — Balance, September 30, 2018 $ 10,202 $ 63,938 $ 147,874 $ (19,438) $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share
Schedule of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 6,585 $ 6,276 $ 12,067 $ 10,889 Denominator: Basic weighted average shares outstanding 9,912 10,114 9,933 10,167 Effect of dilutive securities: Employee share-based awards 17 277 63 252 Diluted weighted average shares outstanding 9,929 10,391 9,996 10,419 Basic earnings per share $ 0.66 $ 0.62 $ 1.21 $ 1.07 Diluted earnings per share $ 0.66 $ 0.60 $ 1.21 $ 1.05

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2019
Investments
Schedule of Marketable securities	Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of September 30, 2019, and December 31, 2018. September 30, 2019 December 31, 2018 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 6,543 $ 6,550 $ 1,525 $ 1,532 Due from one through five years 8,621 8,883 9,752 9,861 Due from six through ten years 4,669 5,060 6,239 6,433 Due from eleven through twenty years 3,257 3,478 2,711 2,713 Total $ 23,090 $ 23,971 $ 20,227 $ 20,539
Schedule of Unrealized gains and losses	The unrealized gains and losses on marketable securities at September 30, 2019, and at December 31, 2018, were as follows: September 30, 2019 December 31, 2018 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 881 $ — $ 388 $ (76)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Intangible Assets
Schedule of Condensed Balance Sheet	The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: September 30, 2019 December 31, 2018 Weighted Gross Gross Average Carrying Accumulated Carrying Accumulated Life (Years) Amount Amortization Net Amount Amortization Net (Dollars in thousands) (Dollars in thousands) Amortizable intangible assets Customer relationships 15 $ 3,500 $ (2,003) $ 1,497 $ 3,500 $ (1,828) $ 1,672 Total amortizable intangible assets $ 3,500 $ (2,003) $ 1,497 $ 3,500 $ (1,828) $ 1,672

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Information
Schedule of Segment Reporting Information	Summarized segment data for the three and nine months ended September 30, 2019 and 2018, was as follows: Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 67,193 $ 5,158 $ 9,521 $ 81,872 Licensing revenues 630 — — 630 Net sales $ 67,823 $ 5,158 $ 9,521 $ 82,502 Earnings (loss) from operations $ 9,485 $ 365 $ (1,361) $ 8,489 2018 Product sales $ 62,652 $ 4,942 $ 10,249 $ 77,843 Licensing revenues 532 — — 532 Net sales $ 63,184 $ 4,942 $ 10,249 $ 78,375 Earnings from operations $ 7,611 $ 428 $ 8 $ 8,047 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 171,383 $ 16,124 $ 27,626 $ 215,133 Licensing revenues 1,973 — — 1,973 Net sales $ 173,356 $ 16,124 $ 27,626 $ 217,106 Earnings (loss) from operations $ 16,903 $ 1,249 $ (2,653) $ 15,499 2018 Product sales $ 160,814 $ 14,493 $ 31,685 $ 206,992 Licensing revenues 1,797 — — 1,797 Net sales $ 162,611 $ 14,493 $ 31,685 $ 208,789 Earnings (loss) from operations $ 12,750 $ 856 $ (45) $ 13,561

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Employee Retirement Plans
Schedule of Company's net periodic pension cost	The components of the Company’s net periodic pension cost were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Service cost $ 116 $ 126 $ 347 $ 427 Interest cost 615 554 1,845 1,652 Expected return on plan assets (625) (741) (1,876) (2,033) Net amortization and deferral 156 157 469 476 Net periodic pension cost $ 262 $ 96 $ 785 $ 522

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases
Schedule of operating lease costs	The components of the Company’s operating lease costs were as follows (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating lease costs $ 2,198 $ 6,590 Variable lease costs (1) — 43 Total lease costs $ 2,198 $ 6,633 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.
Schedule of maturities of operating lease liabilities	The following is a schedule of maturities of operating lease liabilities as of September 30, 2019 (dollars in thousands): Operating Leases 2019, excluding the nine months ended September 30, 2019 $ 2,039 2020 7,163 2021 5,562 2022 3,313 2023 2,279 Thereafter 2,941 Total lease payments 23,297 Less imputed interest (2,020) Present value of lease liabilities $ 21,277 The operating lease liabilities are classified in the consolidated condensed balance sheet (unaudited) as follows (dollars in thousands): September 30, 2019 Operating lease liabilities – current $ 6,817 Operating lease liabilities - non-current 14,460 Total $ 21,277
Schedule of future minimum rental commitments	The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands): Operating Leases 2019 $ 9,468 2020 7,529 2021 5,584 2022 3,278 2023 2,321 Thereafter 4,161 Total $ 32,341
Schedule of supplemental cash flow information	Supplemental cash flow information related to the Company’s operating leases is as follows (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 2,278 $ 6,803 Right-of-use assets obtained in exchange for new lease liabilities (noncash) $ — $ 27,002

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Share-Based Compensation Plans
Schedule of Company's stock option activity	The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2019: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2018 1,173,620 $ 26.57 Granted 192,650 $ 23.45 Exercised (18,795) $ 27.75 Forfeited or expired (2,850) $ 31.80 Outstanding at September 30, 2019 1,344,625 $ 27.31 4.4 $ — Exercisable at September 30, 2019 866,830 $ 27.05 2.2 $ — * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company’s stock on September 30, 2019 ($22.61) and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.As of September 30, 2019, there were no in-the-money stock options outstanding, therefore the aggregate intrinsic value was zero.
Schedule of Company's stock option exercise activity	The following table summarizes the Company’s stock option exercise activity for the three and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Total intrinsic value of stock options exercised $ — $ 654 $ 88 $ 3,704 Net proceeds from stock option exercises $ — $ 260 $ 161 $ 4,308 Income tax benefit from the exercise of stock options $ — $ 170 $ 23 $ 963
Schedule of Company's restricted stock award	The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2019: Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2018 61,480 $ 30.74 Issued 31,000 23.48 Vested (23,745) 24.63 Non-vested at September 30, 2019 68,735 $ 28.04 3.0 $ 1,554,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on September 30, 2019 ($22.61) multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2019
Comprehensive Income
Schedule of comprehensive income	Comprehensive income for the three and nine months ended September 30, 2019 and 2018, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Dollars in thousands) Net earnings $ 6,585 $ 6,152 $ 12,067 $ 10,491 Foreign currency translation adjustments (711) (182) (481) (1,292) Pension liability, net of tax of $40, $41, $122 and $124, respectively 116 116 347 352 Total comprehensive income $ 5,990 $ 6,086 $ 11,933 $ 9,551
Schedule of accumulated other comprehensive loss	The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: September 30, December 31, 2019 2018 (Dollars in thousands) Foreign currency translation adjustments $ (7,382) $ (6,901) Pension liability, net of tax (14,324) (14,671) Total accumulated other comprehensive loss $ (21,706) $ (21,572)
Schedule of changes in accumulated other comprehensive loss	The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2019: Foreign Defined Currency Benefit Translation Pension Adjustments Items Total Beginning balance, December 31, 2018 $ (6,901) $ (14,671) $ (21,572) Other comprehensive loss before reclassifications (481) — (481) Amounts reclassified from accumulated other comprehensive loss — 347 347 Net current period other comprehensive (loss) income (481) 347 (134) Ending balance, September 30, 2019 $ (7,382) $ (14,324) $ (21,706)
Schedule of reclassification adjustments out of accumulated other comprehensive loss	The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2019: Amounts reclassified from accumulated other comprehensive loss for Affected line item in the the nine months ended statement where net September 30, 2019 income is presented Amortization of defined benefit pension items Prior service cost $ (47) (1) Other expense, net Actuarial losses 516 (1) Other expense, net Total before tax 469 Tax benefit (122) Net of tax $ 347 These amounts were included in the net periodic pension cost. See Note 8 for additional details.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity
Schedule of reconciliation of company's equity	The following table reconciles the Company’s equity for the nine months ended September 30, 2019: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Stock Par Value Earnings Loss (Dollars in thousands) Balance, December 31, 2018 $ 10,057 $ 64,263 $ 152,835 $ (21,572) Net earnings — — 3,968 — Foreign currency translation adjustments — — — 130 Pension liability adjustment, net of tax — — — 108 Cash dividends declared — — (2,299) — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 1 6 — — Issuance of restricted stock 1 (1) — — Share-based compensation expense — 366 — — Shares purchased and retired (64) — (1,764) — Balance, March 31, 2019 $ 9,995 $ 64,634 $ 152,740 $ (21,334) Net earnings — — 1,514 — Foreign currency translation adjustments — — — 100 Pension liability adjustment, net of tax — — — 123 Cash dividends declared — — (2,401) — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 7 142 — — Share-based compensation expense — 365 — — Balance, June 30,2019 $ 10,002 $ 65,141 $ 151,853 $ (21,111) Net earnings — — 6,585 — Foreign currency translation adjustments — — — (711) Pension liability adjustment, net of tax — — — 116 Cash dividends declared — — (2,395) — Issuance of restricted stock 30 (30) — — Share-based compensation expense — 371 — — Shares purchased and retired (91) — (2,110) — Balance, September 30, 2019 $ 9,941 $ 65,482 $ 153,933 $ (21,706) The following table reconciles the Company’s equity for the nine months ended September 30, 2018: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859) $ 7,122 Net earnings — — 2,987 — (171) Foreign currency translation adjustments — — — (85) (34) Pension liability adjustment, net of tax — — — 118 — Cash dividends declared — — (2,257) — — Cash dividends paid to noncontrolling interest — — — — (88) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 108 2,776 — — — Restricted stock forfeited (2) 2 — — — Share-based compensation expense — 351 — — — Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826) $ 6,829 Net earnings — — 1,626 — (103) Foreign currency translation adjustments — — — (711) (280) Pension liability adjustment, net of tax — — — 118 — Cash dividends declared — — (2,395) — — Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 89 463 — — — Issuance of restricted stock 2 (2) — — — Share-based compensation expense — 454 — — — Shares purchased and retired (199) — (6,390) — — Balance, June 30, 2018 $ 10,160 $ 59,928 $ 143,921 $ (18,419) $ 6,446 Net earnings — — 6,276 — (124) Foreign currency translation adjustments — — — (24) (158) Pension liability adjustment, net of tax — — — 116 — Cash dividends declared — — (2,323) — — Purchase of noncontrolling interest — 3,535 — (1,111) (6,164) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 21 152 — — — Issuance of restricted stock 23 (23) — — — Restricted stock forfeited (2) 2 — — — Share-based compensation expense — 344 — — — Balance, September 30, 2018 $ 10,202 $ 63,938 $ 147,874 $ (19,438) $ —

Recently Adopted Accounting P_2

Recently Adopted Accounting Pronouncement- Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Recently Adopted Accounting Pronouncement
Operating Lease, Right-of-Use Asset	$ 19,822	$ 26,000	$ 0
Operating Lease, Liability	$ 21,277	27,800
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ 1,800

Earnings Per Share - Earning pe

Earnings Per Share - Earning per share basic and diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 6,585	$ 6,276	$ 12,067	$ 10,889
Denominator:
Basic weighted average shares outstanding (in shares)	9,912	10,114	9,933	10,167
Effect of dilutive securities:
Employee stock-based awards (in shares)	17	277	63	252
Diluted weighted average shares outstanding (in shares)	9,929	10,391	9,996	10,419
Basic earnings per share (in dollars per share)	$ 0.66	$ 0.62	$ 1.21	$ 1.07
Diluted earnings per share (in dollars per share)	$ 0.66	$ 0.60	$ 1.21	$ 1.05

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,382,000	151,000	696,000	179,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.56	$ 31.58	$ 28.51	$ 29.78

Investments - Marketable securi

Investments - Marketable securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 6,543	$ 1,525
Municipal Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	6,543	1,525
Amortized Cost, Due from one through five years	8,621	9,752
Amortized Cost, Due from six through ten years	4,669	6,239
Amortized Cost, Due from eleven through twenty years	3,257	2,711
Amortized Cost, Total	23,090	20,227
Market Value, Current	6,550	1,532
Market Value, Due from one through five years	8,883	9,861
Market Value, Due from six through ten years	5,060	6,433
Market Value, Due from eleven through twenty years	3,478	2,713
Market Value, Total	$ 23,971	$ 20,539

Investments - Unrealized gains

Investments - Unrealized gains and losses (Details) - Municipal Bonds [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Net Investment Income [Line Items]
Unrealized Gains	$ 881	$ 388
Unrealized Losses	$ 0	$ (76)

Intangible Assets - Consolidate

Intangible Assets - Consolidated balance sheet (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Amortizable intangible assets:
Gross Carrying Amount	$ 3,500	$ 3,500
Accumulated Amortization	(2,003)	(1,828)
Net	$ 1,497	1,672
Customer Relationships [Member]
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(2,003)	(1,828)
Net	$ 1,497	$ 1,672

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Intangible Assets
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 175,000	$ 175,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 82,502	$ 78,375	$ 217,106	$ 208,789
Earnings (loss) from operations	8,489	8,047	15,499	13,561
Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	81,872	77,843	215,133	206,992
Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	630	532	1,973	1,797
Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	67,823	63,184	173,356	162,611
Earnings (loss) from operations	9,485	7,611	16,903	12,750
Wholesale [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	67,193	62,652	171,383	160,814
Wholesale [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	630	532	1,973	1,797
Retail Segment [Member]
Segment Reporting Information [Line Items]
Net sales	5,158	4,942	16,124	14,493
Earnings (loss) from operations	365	428	1,249	856
Retail Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	5,158	4,942	16,124	14,493
Retail Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,521	10,249	27,626	31,685
Earnings (loss) from operations	(1,361)	8	(2,653)	(45)
Other Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	9,521	10,249	27,626	31,685
Other Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	$ 116	$ 126	$ 347	$ 427
Interest cost	615	554	1,845	1,652
Expected return on plan assets	(625)	(741)	(1,876)	(2,033)
Net amortization and deferral	156	157	469	476
Net periodic pension cost	$ 262	$ 96	$ 785	$ 522

Leases - Operating lease costs

Leases - Operating lease costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases
Operating lease costs	$ 2,198	$ 6,590
Variable lease costs	0	43
Total lease costs	$ 2,198	$ 6,633

Leases - Maturities of operatin

Leases - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Leases
2019, excluding the quarter ended September, 2019	$ 2,039
2020	7,163
2021	5,562
2022	3,313
2023	2,279
Thereafter	2,941
Total lease payments	23,297
Less imputed interest	(2,020)
Present value of lease liabilities	$ 21,277	$ 27,800

Leases - Operating lease liabil

Leases - Operating lease liabilities classification (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases
Operating lease liabilities - current	$ 6,817		$ 0
Operating lease liabilities - non-current	14,460		$ 0
Total	$ 21,277	$ 27,800

Leases - Future minimum rental

Leases - Future minimum rental commitments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases
2019	$ 9,468
2020	7,529
2021	5,584
2022	3,278
2023	2,321
Thereafter	4,161
Total	$ 32,341

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases
Cash paid for amounts included in the measurement of lease liabilities	$ 2,278	$ 6,803
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$ 0	$ 27,002

Leases - Additional information

Leases - Additional information (Details)	Sep. 30, 2019
Leases
Operating Lease, Weighted Average Discount Rate, Percent	4.25%
Operating Lease, Weighted Average Remaining Lease Term	4 years 7 months 6 days

Share-Based Compensation Plan_2

Share-Based Compensation Plans - Company's stock option activity (Details) - Employee Stock Option [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of year | shares	1,173,620
Shares, Granted | shares	192,650
Shares, Exercised | shares	(18,795)
Shares, Forfeited or expired | shares	(2,850)
Shares, Outstanding at end of year | shares	1,344,625
Shares, Exercisable at end of year | shares	866,830
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 26.57
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares	23.45
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	27.75
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	31.80
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	27.31
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 27.05
Weighted Average Remaining Contractual Life (Years), Outstanding - September 30, 2019	4 years 4 months 24 days
Weighted Average Remaining Contractual Life (Years), Exercisable - September 30, 2019	2 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding at September 30, 2019 | $	$ 0
Aggregate Intrinsic Value, Exercisable at September 30, 2019 | $	$ 0

Share-Based Compensation Plan_3

Share-Based Compensation Plans - Company's stock option exercise activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-Based Compensation Plans
Total intrinsic value of stock options exercised	$ 0	$ 654	$ 88	$ 3,704
Net proceeds from stock option exercises	0	260	161	4,308
Income tax benefit from the exercise of stock options	$ 0	$ 170	$ 23	$ 963

Share-Based Compensation Plan_4

Share-Based Compensation Plans - Company's restricted stock award activity (Details) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of year | shares	61,480
Shares of Restricted Stock, Issued | shares	31,000
Shares of Restricted Stock, Vested | shares	(23,745)
Shares of Restricted Stock, Non-vested end of year | shares	68,735
Weighted Average Grant Date Fair Value, Non-vested beginning of year (in dollars per share) | $ / shares	$ 30.74
Weighted Average Grant Date Fair Value, Issued (in dollars per share) | $ / shares	23.48
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	24.63
Weighted Average Grant Date Fair Value, Non-vested end of year (in dollars per share) | $ / shares	$ 28.04
Weighted Average Remaining Contractual Term (Years)	3 years
Aggregate Intrinsic Value | $	$ 1,554,000

Share-Based Compensation Plan_5

Share-Based Compensation Plans - Additional information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 371,000	$ 344,000	$ 1,102,000	$ 1,149,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 22.61		$ 22.61
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share			$ 22.61

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - USD ($) $ in Millions	Nov. 05, 2020	Sep. 30, 2019
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period		$ 18.1
Subsequent Event [Member]
Short-term Debt [Line Items]
Debt Instrument, Term	1 year
London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.75%
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total		$ 60
Line of Credit, Current		$ 16.9
Line of Credit Facility, Interest Rate During Period		2.77%

Financial Instruments (Details)

Financial Instruments (Details) - Sep. 30, 2019 $ in Millions, $ in Millions, $ in Millions	CAD ($)	AUD ($)	USD ($)
Foreign Exchange Contracts, Canadian [Member]
Investment Owned, Foreign Currency Contract, Current Value	$ 7		$ 5.3
Foreign Exchange Contracts Australian [Member]
Investment Owned, Foreign Currency Contract, Current Value		$ 4.9	$ 3.5

Comprehensive Income - Comprehe

Comprehensive Income - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Comprehensive Income
Net earnings	$ 6,585	$ 6,152	$ 12,067	$ 10,491
Foreign currency translation adjustments	(711)	(182)	(481)	(1,292)
Pension liability, net of tax of $40, $41, $122 and $124, respectively	116	116	347	352
Total comprehensive income	$ 5,990	$ 6,086	$ 11,933	$ 9,551

Comprehensive Income - Accumula

Comprehensive Income - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Comprehensive Income
Foreign currency translation adjustments	$ (7,382)	$ (6,901)
Pension liability, net of tax	(14,324)	(14,671)
Total accumulated other comprehensive loss	$ (21,706)	$ (21,572)

Comprehensive Income - Changes

Comprehensive Income - Changes in accumulated comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Comprehensive Income
Foreign Currency Translation Adjustments, Beginning balance			$ (6,901)
Foreign Currency Translation Adjustments, Other comprehensive (loss) income before reclassifications			(481)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive loss (income)			(481)
Foreign Currency Translation Adjustments, Ending balance	$ (7,382)		(7,382)
Defined Benefit Pension Items, Beginning balance			(14,671)
Defined Benefit Pension Items, Other comprehensive loss before reclassifications			0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	116	$ 116	347	$ 352
Defined Benefit Pension Items, Net current period other comprehensive loss (income)			347
Defined Benefit Pension Items, Ending balance	(14,324)		(14,324)
Beginning balance			(21,572)
Other comprehensive (loss) income before reclassifications			(481)
Amounts reclassified from accumulated other comprehensive loss			347
Net current period other comprehensive loss (income)			(134)
Ending balance	$ (21,706)		$ (21,706)

Comprehensive Income - Reclassi

Comprehensive Income - Reclassification adjustments out of accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amortization of defined benefit pension items
Prior service cost			$ (47)
Actuarial losses			516
Total before tax			469
Tax benefit			(122)
Net of tax	$ 116	$ 116	$ 347	$ 352

Comprehensive Income - Addition

Comprehensive Income - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Comprehensive Income
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 40	$ 41	$ 122	$ 124

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Balance			$ 205,583				$ 205,583
Net earnings	$ 6,585			$ 6,152			12,067	$ 10,491
Foreign currency translation adjustments	(711)			(182)			(481)	(1,292)
Pension liability adjustment, net of tax							(347)
Balance	207,650						207,650
Common Stock [Member]
Balance	10,002	$ 9,995	10,057	10,160	$ 10,268	$ 10,162	10,057	10,162
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price		7	1	21	89	108
Restricted stock forfeited				(2)		(2)
Issuance of restricted stock	30		1	23	2
Shares purchased and retired	(91)		(64)		(199)
Balance	9,941	10,002	9,995	(10,202)	10,160	10,268	9,941	(10,202)
Capital in Excess Of Par Value [Member]
Balance	65,141	64,634	64,263	59,928	59,013	55,884	64,263	55,884
Purchase of noncontrolling interest				3,535
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price		142	6	152	463	2,776
Restricted stock forfeited				2		2
Issuance of restricted stock	(30)		(1)	(23)	(2)
Share-based compensation expense	371	365	366	344	454	351
Balance	65,482	65,141	64,634	(63,938)	59,928	59,013	65,482	(63,938)
Reinvested Earnings [Member]
Balance	151,853	152,740	152,835	143,921	151,080	150,350	152,835	150,350
Net earnings	6,585	1,514	3,968	6,276	1,626	2,987
Cash dividends declared	(2,395)	(2,401)	(2,299)	(2,323)	(2,395)	(2,257)
Shares purchased and retired	(2,110)		(1,764)		(6,390)
Balance	153,933	151,853	152,740	(147,874)	143,921	151,080	153,933	(147,874)
Accumulated Other Comprehensive Loss [Member]
Balance	(21,111)	(21,334)	(21,572)	(18,419)	(17,826)	(17,859)	(21,572)	(17,859)
Foreign currency translation adjustments	(711)	100	130	(24)	(711)	(85)
Pension liability adjustment, net of tax	116	123	108	116	118	118
Purchase of noncontrolling interest				(1,111)
Balance	$ (21,706)	$ (21,111)	$ (21,334)	19,438	(18,419)	(17,826)	$ (21,706)	19,438
Noncontrolling Interest [Member]
Balance				6,446	6,829	7,122		$ 7,122
Net earnings				(124)	(103)	(171)
Foreign currency translation adjustments				(158)	(280)	(34)
Cash dividends paid to noncontrolling interest						(88)
Purchase of noncontrolling interest				$ (6,164)
Balance					$ 6,446	$ 6,829