Weyco (WEYS) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	WEYCO GROUP INC
Entity Central Index Key	106,532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	WEYS
Entity Common Stock, Shares Outstanding		10,237,361

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Cash and cash equivalents	$ 11,854	$ 13,710
Marketable securities, at amortized cost	10,805	4,601
Accounts receivable, net	37,195	50,726
Income tax receivable	2,891	789
Inventories	60,858	69,898
Prepaid expenses and other current assets	3,427	6,203
Total current assets	127,030	145,927
Marketable securities, at amortized cost	19,236	21,061
Deferred income tax benefits	704	660
Property, plant and equipment, net	32,748	33,717
Goodwill	11,112	11,112
Trademarks	32,978	32,978
Other assets	22,853	22,785
Total assets	246,661	268,240
LIABILITIES AND EQUITY:
Short-term borrowings	0	4,268
Accounts payable	4,963	11,942
Dividend payable	0	2,192
Accrued liabilities	10,545	10,572
Total current liabilities	15,508	28,974
Deferred income tax liabilities	2,287	703
Long-term pension liability	23,707	27,801
Other long-term liabilities	2,350	2,482
Common stock	10,274	10,505
Capital in excess of par value	51,406	50,184
Reinvested earnings	149,885	157,468
Accumulated other comprehensive loss	(15,490)	(16,569)
Total Weyco Group, Inc. equity	196,075	201,588
Noncontrolling interest	6,734	6,692
Total equity	202,809	208,280
Total liabilities and equity	$ 246,661	$ 268,240

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net sales	$ 57,453	$ 56,867	$ 126,573	$ 135,767
Cost of sales	35,363	34,576	79,255	86,349
Gross earnings	22,090	22,291	47,318	49,418
Selling and administrative expenses	20,200	20,263	41,969	43,183
Earnings from operations	1,890	2,028	5,349	6,235
Interest income	200	190	379	394
Interest expense	0	(94)	(7)	(167)
Other expense, net	(55)	(301)	(190)	(539)
Earnings before provision for income taxes	2,035	1,823	5,531	5,923
Provision for income taxes	732	745	2,113	2,213
Net earnings	1,303	1,078	3,418	3,710
Net earnings attributable to noncontrolling interest	46	78	(56)	23
Net earnings attributable to Weyco Group, Inc.	$ 1,257	$ 1,000	$ 3,474	$ 3,687
Weighted average shares outstanding
Basic (in shares)	10,305	10,546	10,370	10,601
Diluted (in shares)	10,368	10,600	10,433	10,647
Earnings per share
Basic (in dollars per share)	$ 0.12	$ 0.09	$ 0.34	$ 0.35
Diluted (in dollars per share)	0.12	0.09	0.33	0.35
Cash dividends declared (in dollars per share)	$ 0.22	$ 0.21	$ 0.43	$ 0.41
Comprehensive income	$ 1,924	$ 1,056	$ 4,799	$ 5,182
Comprehensive income (loss) attributable to noncontrolling interest	80	(31)	246	141
Comprehensive income attributable to Weyco Group, Inc.	$ 1,844	$ 1,087	$ 4,553	$ 5,041

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 3,418	$ 3,710
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	1,995	1,835
Amortization	186	194
Bad debt expense	291	45
Deferred income taxes	1,434	772
Net foreign currency transaction gains	(15)	(148)
Stock-based compensation	779	727
Pension contribution	(4,000)	(2,400)
Pension expense	497	1,667
Increase in cash surrender value of life insurance	(115)	(115)
Changes in operating assets and liabilities -
Accounts receivable	13,179	14,616
Inventories	9,041	20,558
Prepaid expenses and other assets	2,831	1,519
Accounts payable	(6,927)	(8,827)
Accrued liabilities and other	216	(2,329)
Accrued income taxes	(2,092)	(2,755)
Net cash provided by operating activities	20,718	29,069
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	(7,433)	(2,245)
Proceeds from maturities of marketable securities	3,015	2,670
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(772)	(3,475)
Net cash used for investing activities	(5,345)	(3,205)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(6,643)	(6,483)
Cash dividends paid to noncontrolling interest of subsidiary	(204)	0
Shares purchased and retired	(6,843)	(6,106)
Proceeds from stock options exercised	438	453
Payment of contingent consideration	0	(5,217)
Proceeds from bank borrowings	6,816	58,993
Repayments of bank borrowings	(11,084)	(70,401)
Income tax benefits from stock-based compensation	25	0
Net cash used for financing activities	(17,495)	(28,761)
Effect of exchange rate changes on cash and cash equivalents	266	274
Net decrease in cash and cash equivalents	(1,856)	(2,623)
CASH AND CASH EQUIVALENTS at beginning of period	13,710	17,926
CASH AND CASH EQUIVALENTS at end of period	11,854	15,303
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	2,805	3,989
Interest paid	$ 7	$ 158

Financial Statements

Financial Statements	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	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 six months ended June 30, 2017, may not necessarily be indicative of the results for the full year.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	New Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-07 “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post Retirement Benefit Cost” In March 2016, the FASB issued ASU No. 2016-09, " Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ASU No. 2014-09, " Revenue from Contracts with Customers (Topic 606) The Company plans to complete its assessment of its revenue streams during the third and fourth quarters. Based on its assessment to date, the Company does not expect that the adoption of this new standard will have a material impact on its consolidated financial statements. The Company is continuing its assessment, which may identify other impacts. The Company currently plans to adopt the new standard in the first quarter of 2018. In February 2016, the FASB issued ASU No. 2016-02 “ Leases (Topic 842).

Reclassifications

Reclassifications	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications [Text Block]	Reclassifications Certain prior year amounts in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited) were reclassified to conform to current year presentation. For the three and six months ended June 30, 2016, the Company reclassified $ 456,000 848,000

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	4. Earnings Per Share Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 1,257 $ 1,000 $ 3,474 $ 3,687 Denominator: Basic weighted average shares outstanding 10,305 10,546 10,370 10,601 Effect of dilutive securities: Employee stock-based awards 63 54 63 46 Diluted weighted average shares outstanding 10,368 10,600 10,433 10,647 Basic earnings per share $ 0.12 $ 0.09 $ 0.34 $ 0.35 Diluted earnings per share $ 0.12 $ 0.09 $ 0.33 $ 0.35 Diluted weighted average shares outstanding for the three months ended June 30, 2017, exclude anti-dilutive stock options totaling 837,201 26.85 705,634 27.15 605,100 27.12 768,550 27.11

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	Investments As noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification 320, Investments – Debt and Equity Securities, June 30, 2017 December 31, 2016 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 10,805 $ 10,820 $ 4,601 $ 4,610 Due from one through five years 10,602 10,975 12,133 12,486 Due from six through ten years 6,365 6,635 7,705 7,804 Due from eleven through twenty years 2,269 2,347 1,223 1,222 Total $ 30,041 $ 30,777 $ 25,662 $ 26,122 June 30, 2017 December 31, 2016 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 771 $ (35) $ 546 $ (86) The estimated market values provided are level 2 valuations as defined by Accounting Standards Codification 820, Fair Value Measurements and Disclosures

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible Assets June 30, 2017 December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Impairment Net Amount Impairment Net (Dollars in thousands) (Dollars in thousands) Indefinite-lived intangible assets Goodwill $ 11,112 $ - $ 11,112 $ 11,112 $ - $ 11,112 Trademarks 34,748 (1,770) 32,978 34,748 (1,770) 32,978 Total indefinite-lived intangible assets $ 45,860 $ (1,770) $ 44,090 $ 45,860 $ (1,770) $ 44,090 The Company’s amortizable intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 2017 December 31, 2016 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 $ (1,478) $ 2,022 $ 3,500 $ (1,361) $ 2,139 Total amortizable intangible assets $ 3,500 $ (1,478) $ 2,022 $ 3,500 $ (1,361) $ 2,139 The amortizable intangible assets are included within other assets in the Consolidated Condensed Balance Sheets. (Unaudited). Amortization expense related to the intangible assets was approximately $ 58,000 117,000 123,000

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	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 six months ended June 30, 2017 and 2016, was as follows: Three Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 41,700 $ 4,758 $ 10,404 $ 56,862 Licensing revenues 591 - - 591 Net sales $ 42,291 $ 4,758 $ 10,404 $ 57,453 Earnings from operations $ 1,298 $ 184 $ 408 $ 1,890 2016 Product sales $ 40,864 $ 4,721 $ 10,686 $ 56,271 Licensing revenues 596 - - 596 Net sales $ 41,460 $ 4,721 $ 10,686 $ 56,867 Earnings from operations $ 1,475 $ 228 $ 325 $ 2,028 Six Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 93,849 $ 9,688 $ 21,744 $ 125,281 Licensing revenues 1,292 - - 1,292 Net sales $ 95,141 $ 9,688 $ 21,744 $ 126,573 Earnings from operations $ 4,464 $ 227 $ 658 $ 5,349 2016 Product sales $ 102,501 $ 9,805 $ 22,255 $ 134,561 Licensing revenues 1,206 - - 1,206 Net sales $ 103,707 $ 9,805 $ 22,255 $ 135,767 Earnings from operations $ 5,200 $ 474 $ 561 $ 6,235

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
	Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. Employee Retirement Plans Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Service cost $ 142 $ 444 $ 282 $ 819 Interest cost 555 610 1,103 1,225 Expected return on plan assets (609) (630) (1,151) (1,215) Net amortization and deferral 143 476 263 838 Net periodic benefit cost $ 231 $ 900 $ 497 $ 1,667 The components of net periodic benefit cost other than the service cost component are included in "other expense, net" in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited). The Company made a $ 4.0

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. Stock-Based Compensation Plans During the three and six months ended June 30, 2017, the Company recognized approximately $ 410,000 779,000 363,000 727,000 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2016 1,486,257 $ 26.13 Exercised (16,888) $ 25.96 Forfeited or expired (6,125) $ 26.32 Outstanding at June 30, 2017 1,463,244 $ 26.13 3.1 $ 2,748,000 Exercisable at June 30, 2017 750,344 $ 26.07 2.2 $ 1,501,000 * 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 June 30, 2017 of $ 27.88 Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Total intrinsic value of stock options exercised $ 23 $ 72 $ 64 $ 73 Cash received from stock option exercises $ 82 $ 441 $ 438 $ 453 Income tax benefit from the exercise of stock options $ 10 $ - $ 25 $ - Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2016 58,500 $ 26.09 Issued - - Vested (1,425) 26.18 Forfeited - - Non-vested at June 30, 2017 57,075 $ 26.09 2.3 $ 1,591,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 30, 2017 of $ 27.88

Short-Term Borrowings

Short-Term Borrowings	6 Months Ended
	Jun. 30, 2017
Short-term Debt [Abstract]
Short-term Debt [Text Block]	10. Short-Term Borrowings At June 30, 2017, the Company had a $ 60 November 3, 2017 (“LIBOR”) plus 0.75%

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2017
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	11. Financial Instruments At June 30, 2017, the Company had foreign exchange contracts outstanding to sell $ 9.0 6.8 2.5 3.2 208,000 310,000 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	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Comprehensive Income Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Net earnings $ 1,303 $ 1,078 $ 3,418 $ 3,710 Foreign currency translation adjustments 533 (312) 1,220 961 Pension liability, net of tax of $56, $186, $102, and $327, respectively 88 290 161 511 Total comprehensive income $ 1,924 $ 1,056 $ 4,799 $ 5,182 June 30, December 31, 2017 2016 (Dollars in thousands) Foreign currency translation adjustments $ (4,571) $ (5,489) Pension liability, net of tax (10,919) (11,080) Total accumulated other comprehensive loss $ (15,490) $ (16,569) Foreign Currency Translation Adjustments Defined Benefit Pension Items Total Beginning balance, December 31, 2016 $ (5,489) $ (11,080) $ (16,569) Other comprehensive income before reclassifications 918 - 918 Amounts reclassified from accumulated other comprehensive loss - 161 161 Net current period other comprehensive income 918 161 1,079 Ending balance, June 30, 2017 $ (4,571) $ (10,919) $ (15,490) Amounts reclassified from accumulated other comprehensive loss for the six months ended June Affected line item in the statement where net income is 30, 2017 presented Amortization of defined benefit pension items Prior service cost $ (31) (1) Other expense, net Actuarial losses 294 (1) Other expense, net Total before tax 263 Tax benefit (102) Net of tax $ 161 (1) These amounts were included in net periodic benefit cost. See Note 8 for additional details.

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	13. Equity Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2016 $ 10,505 $ 50,184 $ 157,468 $ (16,569) $ 6,692 Net earnings - - 3,474 - (56) Foreign currency translation - - - 918 302 Pension liability adjustment, - - - 161 - Cash dividends declared - - (4,462) - - Cash dividends paid to - - - - (204) Stock options exercised 17 421 - - - Stock-based compensation - 779 - - - Income tax benefit from - 22 - - - Shares purchased and retired (248) - (6,595) - - Balance, June 30, 2017 $ 10,274 $ 51,406 $ 149,885 $ (15,490) $ 6,734

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 1,257 $ 1,000 $ 3,474 $ 3,687 Denominator: Basic weighted average shares outstanding 10,305 10,546 10,370 10,601 Effect of dilutive securities: Employee stock-based awards 63 54 63 46 Diluted weighted average shares outstanding 10,368 10,600 10,433 10,647 Basic earnings per share $ 0.12 $ 0.09 $ 0.34 $ 0.35 Diluted earnings per share $ 0.12 $ 0.09 $ 0.33 $ 0.35

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Held-to-maturity Securities [Table Text Block]	Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of June 30, 2017, and December 31, 2016. June 30, 2017 December 31, 2016 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 10,805 $ 10,820 $ 4,601 $ 4,610 Due from one through five years 10,602 10,975 12,133 12,486 Due from six through ten years 6,365 6,635 7,705 7,804 Due from eleven through twenty years 2,269 2,347 1,223 1,222 Total $ 30,041 $ 30,777 $ 25,662 $ 26,122
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at June 30, 2017, and at December 31, 2016, were as follows: June 30, 2017 December 31, 2016 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 771 $ (35) $ 546 $ (86)

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 2017 December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Impairment Net Amount Impairment Net (Dollars in thousands) (Dollars in thousands) Indefinite-lived intangible assets Goodwill $ 11,112 $ - $ 11,112 $ 11,112 $ - $ 11,112 Trademarks 34,748 (1,770) 32,978 34,748 (1,770) 32,978 Total indefinite-lived intangible assets $ 45,860 $ (1,770) $ 44,090 $ 45,860 $ (1,770) $ 44,090 The Company’s amortizable intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 2017 December 31, 2016 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 $ (1,478) $ 2,022 $ 3,500 $ (1,361) $ 2,139 Total amortizable intangible assets $ 3,500 $ (1,478) $ 2,022 $ 3,500 $ (1,361) $ 2,139

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Summarized segment data for the three and six months ended June 30, 2017 and 2016, was as follows: Three Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 41,700 $ 4,758 $ 10,404 $ 56,862 Licensing revenues 591 - - 591 Net sales $ 42,291 $ 4,758 $ 10,404 $ 57,453 Earnings from operations $ 1,298 $ 184 $ 408 $ 1,890 2016 Product sales $ 40,864 $ 4,721 $ 10,686 $ 56,271 Licensing revenues 596 - - 596 Net sales $ 41,460 $ 4,721 $ 10,686 $ 56,867 Earnings from operations $ 1,475 $ 228 $ 325 $ 2,028 Six Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 93,849 $ 9,688 $ 21,744 $ 125,281 Licensing revenues 1,292 - - 1,292 Net sales $ 95,141 $ 9,688 $ 21,744 $ 126,573 Earnings from operations $ 4,464 $ 227 $ 658 $ 5,349 2016 Product sales $ 102,501 $ 9,805 $ 22,255 $ 134,561 Licensing revenues 1,206 - - 1,206 Net sales $ 103,707 $ 9,805 $ 22,255 $ 135,767 Earnings from operations $ 5,200 $ 474 $ 561 $ 6,235

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The components of the Company’s net periodic benefit cost were as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Service cost $ 142 $ 444 $ 282 $ 819 Interest cost 555 610 1,103 1,225 Expected return on plan assets (609) (630) (1,151) (1,215) Net amortization and deferral 143 476 263 838 Net periodic benefit cost $ 231 $ 900 $ 497 $ 1,667

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2016 1,486,257 $ 26.13 Exercised (16,888) $ 25.96 Forfeited or expired (6,125) $ 26.32 Outstanding at June 30, 2017 1,463,244 $ 26.13 3.1 $ 2,748,000 Exercisable at June 30, 2017 750,344 $ 26.07 2.2 $ 1,501,000 * 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 June 30, 2017 of $ 27.88
Share-based Compensation, Stock Options Exercised, Activity [Table Text Block]	The following table summarizes the Company’s stock option exercise activity for the three and six months ended June 30, 2017 and 2016: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Total intrinsic value of stock options exercised $ 23 $ 72 $ 64 $ 73 Cash received from stock option exercises $ 82 $ 441 $ 438 $ 453 Income tax benefit from the exercise of stock options $ 10 $ - $ 25 $ -
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2016 58,500 $ 26.09 Issued - - Vested (1,425) 26.18 Forfeited - - Non-vested at June 30, 2017 57,075 $ 26.09 2.3 $ 1,591,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 30, 2017 of $ 27.88

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three and six months ended June 30, 2017 and 2016, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (Dollars in thousands) Net earnings $ 1,303 $ 1,078 $ 3,418 $ 3,710 Foreign currency translation adjustments 533 (312) 1,220 961 Pension liability, net of tax of $56, $186, $102, and $327, respectively 88 290 161 511 Total comprehensive income $ 1,924 $ 1,056 $ 4,799 $ 5,182
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss as recorded on the Consolidated Condensed Balance Sheets (Unaudited) were as follows: June 30, December 31, 2017 2016 (Dollars in thousands) Foreign currency translation adjustments $ (4,571) $ (5,489) Pension liability, net of tax (10,919) (11,080) Total accumulated other comprehensive loss $ (15,490) $ (16,569)
Changes In Accumulated Other Comprehensive Loss [Table Text Block]	The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the six months ended June 30, 2017: Foreign Currency Translation Adjustments Defined Benefit Pension Items Total Beginning balance, December 31, 2016 $ (5,489) $ (11,080) $ (16,569) Other comprehensive income before reclassifications 918 - 918 Amounts reclassified from accumulated other comprehensive loss - 161 161 Net current period other comprehensive income 918 161 1,079 Ending balance, June 30, 2017 $ (4,571) $ (10,919) $ (15,490)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amounts reclassified from accumulated other comprehensive loss for the six months ended June Affected line item in the statement where net income is 30, 2017 presented Amortization of defined benefit pension items Prior service cost $ (31) (1) Other expense, net Actuarial losses 294 (1) Other expense, net Total before tax 263 Tax benefit (102) Net of tax $ 161 (1) These amounts were included in net periodic benefit cost. See Note 8 for additional details.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	A reconciliation of the Company’s equity for the six months ended June 30, 2017, is as follows: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2016 $ 10,505 $ 50,184 $ 157,468 $ (16,569) $ 6,692 Net earnings - - 3,474 - (56) Foreign currency translation - - - 918 302 Pension liability adjustment, - - - 161 - Cash dividends declared - - (4,462) - - Cash dividends paid to - - - - (204) Stock options exercised 17 421 - - - Stock-based compensation - 779 - - - Income tax benefit from - 22 - - - Shares purchased and retired (248) - (6,595) - - Balance, June 30, 2017 $ 10,274 $ 51,406 $ 149,885 $ (15,490) $ 6,734

Reclassifications (Details Text

Reclassifications (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Prior Period Reclassification Adjustment	$ 456,000	$ 848,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 1,257	$ 1,000	$ 3,474	$ 3,687
Denominator:
Basic weighted average shares outstanding	10,305	10,546	10,370	10,601
Effect of dilutive securities:
Employee stock-based awards	63	54	63	46
Diluted weighted average shares outstanding	10,368	10,600	10,433	10,647
Basic earnings per share	$ 0.12	$ 0.09	$ 0.34	$ 0.35
Diluted earnings per share	$ 0.12	$ 0.09	$ 0.33	$ 0.35

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	837,201	605,100	705,634	768,550
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.85	$ 27.12	$ 27.15	$ 27.11

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 10,805	$ 4,601
Held-to-maturity Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	10,805	4,601
Amortized Cost, Due from one through five years	10,602	12,133
Amortized Cost, Due from six through ten years	6,365	7,705
Amortized Cost, Due from eleven through twenty years	2,269	1,223
Amortized Cost, Total	30,041	25,662
Market Value, Current	10,820	4,610
Market Value, Due from one through five years	10,975	12,486
Market Value, Due from six through ten years	6,635	7,804
Market Value, Due from eleven through twenty years	2,347	1,222
Market Value, Total	$ 30,777	$ 26,122

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Net Investment Income [Line Items]
Unrealized Gains	$ 771	$ 546
Unrealized Losses	$ (35)	$ (86)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Indefinite-lived intangible assets:
Gross Carrying Amount	$ 45,860	$ 45,860
Accumulated Impairment	(1,770)	(1,770)
Net	44,090	44,090
Gross Carrying Amount	11,112	11,112
Accumulated Impairment	0	0
Net	11,112	11,112
Amortizable intangible assets:
Gross Carrying Amount	3,500	3,500
Accumulated Amortization	(1,478)	(1,361)
Net	2,022	2,139
Trademarks [Member]
Indefinite-lived intangible assets:
Gross Carrying Amount	34,748	34,748
Accumulated Impairment	(1,770)	(1,770)
Net	$ 32,978	32,978
Amortizable Intangible Assets Customer Relationships [Member]
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(1,478)	(1,361)
Net	$ 2,022	$ 2,139

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 117,000	$ 123,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Product sales	$ 56,862	$ 56,271	$ 125,281	$ 134,561
Licensing revenues	591	596	1,292	1,206
Net sales	57,453	56,867	126,573	135,767
Earnings from operations	1,890	2,028	5,349	6,235
Wholesale [Member]
Segment Reporting Information [Line Items]
Product sales	41,700	40,864	93,849	102,501
Licensing revenues	591	596	1,292	1,206
Net sales	42,291	41,460	95,141	103,707
Earnings from operations	1,298	1,475	4,464	5,200
Retail [Member]
Segment Reporting Information [Line Items]
Product sales	4,758	4,721	9,688	9,805
Licensing revenues	0	0	0	0
Net sales	4,758	4,721	9,688	9,805
Earnings from operations	184	228	227	474
Other [Member]
Segment Reporting Information [Line Items]
Product sales	10,404	10,686	21,744	22,255
Licensing revenues	0	0	0	0
Net sales	10,404	10,686	21,744	22,255
Earnings from operations	$ 408	$ 325	$ 658	$ 561

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 142	$ 444	$ 282	$ 819
Interest cost	555	610	1,103	1,225
Expected return on plan assets	(609)	(630)	(1,151)	(1,215)
Net amortization and deferral	143	476	263	838
Net periodic benefit cost	$ 231	$ 900	$ 497	$ 1,667

Employee Retirement Plans (De35

Employee Retirement Plans (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Pension Contributions	$ 4,000	$ 2,400

Stock-Based Compensation Plan36

Stock-Based Compensation Plans (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Remaining Contractual Life (Years), Outstanding - June 30, 2017	3 years 1 month 6 days
Weighted Average Remaining Contractual Life (Years), Exercisable - June 30, 2017	2 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding at June 30, 2017 | $	$ 2,748,000	[1]
Aggregate Intrinsic Value, Exercisable at June 30, 2017 | $	$ 1,501,000	[1]
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of year | shares	1,486,257
Shares, Exercised | shares	(16,888)
Shares, Forfeited or expired | shares	(6,125)
Shares, Outstanding at end of year | shares	1,463,244
Shares, Exercisable at end of year | shares	750,344
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 26.13
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	25.96
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	26.32
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	26.13
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 26.07
[1]	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 June 30, 2017 of $27.88 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Stock-Based Compensation Plan37

Stock-Based Compensation Plans (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 23	$ 72	$ 64	$ 73
Cash received from stock option exercises	82	441	438	453
Income tax benefit from the exercise of stock options	$ 10	$ 0	$ 25	$ 0

Stock-Based Compensation Plan38

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of year | shares	58,500
Shares of Restricted Stock, Issued | shares	0
Shares of Restricted Stock, Vested | shares	(1,425)
Shares of Restricted Stock, Forfeited | shares	0
Shares of Restricted Stock, Non-vested end of year | shares	57,075
Weighted Average Grant Date Fair Value, Non-vested beginning of year (in dollars per share) | $ / shares	$ 26.09
Weighted Average Grant Date Fair Value, Issued (in dollars per share) | $ / shares	0
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	26.18
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	0
Weighted Average Grant Date Fair Value, Non-vested end of year (in dollars per share) | $ / shares	$ 26.09
Weighted Average Remaining Contractual Term (Years), Non-vested at June 30, 2017	2 years 3 months 18 days
Aggregate Intrinsic Value (in dollars), Non-vested at June 30, 2017 | $	$ 1,591,000	[1]
[1]	The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 30, 2017 of $27.88 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan39

Stock-Based Compensation Plans (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 410,000	$ 363,000	$ 779,000	$ 727,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 27.88		$ 27.88
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share			$ 27.88

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) - Revolving Credit Facility [Member] $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Short-term Debt [Line Items]
Line of Credit Facility, Expiration Date	Nov. 3, 2017
Long-term Line of Credit	$ 60
Line of Credit Facility, Interest Rate Description	(LIBOR) plus 0.75%

Financial Instruments (Details

Financial Instruments (Details Textual) - Jun. 30, 2017 CAD in Millions, $ in Millions	USD ($)	CAD	EUR (€)	AUD
Foreign Exchange Contract [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value			€ 208,000	AUD 310,000
Foreign Exchange Contracts, Australian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 2.5			AUD 3,200,000
Foreign Exchange Contracts, Canadian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 6.8	CAD 9

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net earnings	$ 1,303	$ 1,078	$ 3,418	$ 3,710
Foreign currency translation adjustments	533	(312)	1,220	961
Pension liability, net of tax of $56, $186, $102, and $327, respectively	88	290	161	511
Total comprehensive income	$ 1,924	$ 1,056	$ 4,799	$ 5,182

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Foreign currency translation adjustments	$ (4,571)	$ (5,489)
Pension liability, net of tax	(10,919)	(11,080)
Total accumulated other comprehensive loss	$ (15,490)	$ (16,569)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign Currency Translation Adjustments, Beginning balance			$ (5,489)
Foreign Currency Translation Adjustments, Other comprehensive income before reclassifications			918
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive income			918
Foreign Currency Translation Adjustments, Ending balance	$ (4,571)		(4,571)
Defined Benefit Pension Items, Beginning balance			(11,080)
Defined Benefit Pension Items, Other comprehensive income before reclassifications			0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	88	$ 290	161	$ 511
Defined Benefit Pension Items, Net current period other comprehensive income			161
Defined Benefit Pension Items, Ending balance	(10,919)		(10,919)
Beginning balance			(16,569)
Other comprehensive income before reclassifications			918
Amounts reclassified from accumulated other comprehensive loss			161
Net current period other comprehensive income			1,079
Ending balance	$ (15,490)		$ (15,490)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Amortization of defined benefit pension items
Prior service cost	[1]			$ (31)
Actuarial losses	[1]			294
Total before tax				263
Tax benefit				(102)
Net of tax		$ 88	$ 290	$ 161	$ 511
[1]	These amounts were included in net periodic benefit cost. See Note 8 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax	$ 56	$ 186	$ 102	$ 327

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			$ 208,280
Net earnings	$ 1,303	$ 1,078	3,418	$ 3,710
Foreign currency translation adjustments	533	$ (312)	1,220	$ 961
Pension liability adjustment, net of tax			(161)
Balance, June 30, 2017	202,809		202,809
Common Stock [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			10,505
Net earnings			0
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Stock options exercised			17
Stock-based compensation expense			0
Income tax benefit from stock options exercised			0
Shares purchased and retired			(248)
Balance, June 30, 2017	10,274		10,274
Capital in Excess of Par Value [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			50,184
Net earnings			0
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Stock options exercised			421
Stock-based compensation expense			779
Income tax benefit from stock options exercised			22
Shares purchased and retired			0
Balance, June 30, 2017	51,406		51,406
Reinvested Earnings [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			157,468
Net earnings			3,474
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			(4,462)
Cash dividends paid to noncontrolling interest			0
Stock options exercised			0
Stock-based compensation expense			0
Income tax benefit from stock options exercised			0
Shares purchased and retired			(6,595)
Balance, June 30, 2017	149,885		149,885
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			(16,569)
Net earnings			0
Foreign currency translation adjustments			918
Pension liability adjustment, net of tax			161
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Stock options exercised			0
Stock-based compensation expense			0
Income tax benefit from stock options exercised			0
Shares purchased and retired			0
Balance, June 30, 2017	(15,490)		(15,490)
Noncontrolling Interest [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			6,692
Net earnings			(56)
Foreign currency translation adjustments			302
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			(204)
Stock options exercised			0
Stock-based compensation expense			0
Income tax benefit from stock options exercised			0
Shares purchased and retired			0
Balance, June 30, 2017	$ 6,734		$ 6,734