Weyco (WEYS) 10-Q 6 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		10,192,905

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS:
Cash and cash equivalents	$ 6,704	$ 13,710
Marketable securities, at amortized cost	11,354	4,601
Accounts receivable, net	56,271	50,726
Income tax receivable	781	789
Inventories	57,692	69,898
Prepaid expenses and other current assets	3,010	6,203
Total current assets	135,812	145,927
Marketable securities, at amortized cost	18,273	21,061
Deferred income tax benefits	707	660
Property, plant and equipment, net	32,371	33,717
Goodwill	11,112	11,112
Trademarks	32,978	32,978
Other assets	22,984	22,785
Total assets	254,237	268,240
LIABILITIES AND EQUITY:
Short-term borrowings	4,772	4,268
Accounts payable	5,001	11,942
Dividend payable	0	2,192
Accrued liabilities	12,207	10,572
Total current liabilities	21,980	28,974
Deferred income tax liabilities	3,096	703
Long-term pension liability	23,724	27,801
Other long-term liabilities	2,269	2,482
Common stock	10,197	10,505
Capital in excess of par value	53,258	50,184
Reinvested earnings	147,951	157,468
Accumulated other comprehensive loss	(14,997)	(16,569)
Total Weyco Group, Inc. equity	196,409	201,588
Noncontrolling interest	6,759	6,692
Total equity	203,168	208,280
Total liabilities and equity	$ 254,237	$ 268,240

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 76,906	$ 79,069	$ 203,479	$ 214,836
Cost of sales	47,438	49,747	126,693	136,096
Gross earnings	29,468	29,322	76,786	78,740
Selling and administrative expenses	21,666	21,568	63,635	64,751
Earnings from operations	7,802	7,754	13,151	13,989
Interest income	193	190	572	584
Interest expense	0	(61)	(7)	(228)
Other expense, net	(53)	(311)	(243)	(850)
Earnings before provision for income taxes	7,942	7,572	13,473	13,495
Provision for income taxes	3,022	2,871	5,135	5,084
Net earnings	4,920	4,701	8,338	8,411
Net (losses) earnings attributable to noncontrolling interest	(14)	101	(70)	124
Net earnings attributable to Weyco Group, Inc.	$ 4,934	$ 4,600	$ 8,408	$ 8,287
Weighted average shares outstanding
Basic (in shares)	10,160	10,461	10,299	10,556
Diluted (in shares)	10,218	10,516	10,360	10,605
Earnings per share
Basic (in dollars per share)	$ 0.49	$ 0.44	$ 0.82	$ 0.79
Diluted (in dollars per share)	0.48	0.44	0.81	0.78
Cash dividends declared (in dollars per share)	$ 0.22	$ 0.21	$ 0.65	$ 0.62
Comprehensive income	$ 5,452	$ 5,218	$ 10,251	$ 10,400
Comprehensive income attributable to noncontrolling interest	25	235	271	376
Comprehensive income attributable to Weyco Group, Inc.	$ 5,427	$ 4,983	$ 9,980	$ 10,024

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 8,338	$ 8,411
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	2,971	2,708
Amortization	265	288
Bad debt expense	350	96
Deferred income taxes	2,192	1,537
Net foreign currency transaction gains	(61)	(389)
Stock-based compensation	1,174	1,121
Pension contributions	(4,000)	(2,400)
Pension expense	746	2,500
Increase in cash surrender value of life insurance	(250)	(250)
Changes in operating assets and liabilities -
Accounts receivable	(5,703)	(3,714)
Inventories	12,195	26,641
Prepaid expenses and other assets	3,167	800
Accounts payable	(6,838)	(7,699)
Accrued liabilities and other	1,879	(1,023)
Accrued income taxes	22	(839)
Excess tax benefits from stock-based compensation	(30)	0
Net cash provided by operating activities	16,417	27,788
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	(14,719)	(3,605)
Proceeds from maturities of marketable securities	10,710	4,190
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(1,406)	(4,872)
Net cash used for investing activities	(5,570)	(4,442)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(8,877)	(8,678)
Cash dividends paid to noncontrolling interest of subsidiary	(204)	(170)
Shares purchased and retired	(11,621)	(9,368)
Proceeds from stock options exercised	2,013	585
Taxes paid related to the net share settlement of equity awards	(51)	0
Payment of contingent consideration	0	(5,217)
Proceeds from bank borrowings	20,651	91,729
Repayments of bank borrowings	(20,147)	(95,568)
Excess tax benefits from stock-based compensation	0	3
Net cash used for financing activities	(18,236)	(26,684)
Effect of exchange rate changes on cash and cash equivalents	383	252
Net decrease in cash and cash equivalents	(7,006)	(3,086)
CASH AND CASH EQUIVALENTS at beginning of period	13,710	17,926
CASH AND CASH EQUIVALENTS at end of period	6,704	14,840
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	2,829	4,083
Interest paid	$ 7	$ 228

Financial Statements

Financial Statements	9 Months Ended
	Sep. 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 nine months ended September 30, 2017, may not necessarily be indicative of the results for the full year.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 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: Improvements to Employee Share-Based Payment Accounting” · The prospective recognition of excess tax benefits or deficiencies within the provision for income taxes in the income statement. Prior to the adoption of the new standard, these amounts would have been recorded within capital in excess of par value on the balance sheet. This change may create volatility in the Company’s future effective tax rate. · Accounting rules require the use of the treasury stock method when calculating potential common shares used to determine diluted earnings per share. The new standard requires that the calculation of diluted earnings per share under the treasury stock method exclude the amount of excess tax benefits that would have been recognized within capital in excess of par value on the balance sheet. This change was adopted prospectively and had an immaterial impact on the Company’s weighted average diluted shares outstanding for the quarter and year-to-date periods. · The new standard requires that excess tax benefits from share-based payment awards be reported as operating activities in the cash flow statement. Previously, these cash flows were included in financing activities. This change was adopted prospectively, and had an immaterial impact on the Consolidated Condensed Statements of Cash Flows (Unaudited) for the year-to-date period. · The new standard requires that cash flows related to employee taxes paid for withheld shares be presented as a financing activity in the cash flow statement. Previously, accounting rules did not specify where such cash flows should be reported. This change was retrospectively applied to all periods presented, and had an immaterial impact on the Consolidated Condensed Statements of Cash Flows (Unaudited) for the year-to-date period. The Company elected not to change its policy on accounting for forfeitures, and will continue to estimate forfeitures expected to occur to determine the amount of stock-based compensation expense recognized in each period. Finally, the Company will continue to allow its employees to withhold up to the minimum statutory withholding requirements, as allowed under the new standard. ASU No. 2014-09, " Revenue from Contracts with Customers The Company plans to complete an assessment of its revenue streams during the fourth quarter of 2017. 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. The Company is currently planning to adopt this standard using the modified retrospective approach. In February 2016, the FASB issued ASU No. 2016-02 “ Leases.

Reclassifications

Reclassifications	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications [Text Block]	3. 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 nine months ended September 30, 2016, the Company reclassified $ 424,000 1,272,000 pension

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	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, 2017 2016 2017 2016 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 4,934 $ 4,600 $ 8,408 $ 8,287 Denominator: Basic weighted average shares outstanding 10,160 10,461 10,299 10,556 Effect of dilutive securities: Employee stock-based awards 58 55 61 49 Diluted weighted average shares outstanding 10,218 10,516 10,360 10,605 Basic earnings per share $ 0.49 $ 0.44 $ 0.82 $ 0.79 Diluted earnings per share $ 0.48 $ 0.44 $ 0.81 $ 0.78 Diluted weighted average shares outstanding for the three months ended September 30, 2017, exclude anti-dilutive stock -based awards 1,116,325 26.49 -based awards 844,036 26.93 -based awards 1,232,000 26.14 -based awards 924,161 26.78

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	5. 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 (“ASC”) Investments – Debt and Equity Securities, Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of September 30, 2017, and December 31, 2016. September 30, 2017 December 31, 2016 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 11,354 $ 11,380 $ 4,601 $ 4,610 Due from one through five years 9,819 10,157 12,133 12,486 Due from six through ten years 5,789 6,050 7,705 7,804 Due from eleven through twenty years 2,665 2,763 1,223 1,222 Total $ 29,627 $ 30,350 $ 25,662 $ 26,122 The unrealized gains and losses on marketable securities at September 30, 2017, and at December 31, 2016, were as follows: September 30, 2017 December 31, 2016 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 759 $ (36) $ 546 $ (86) The estimated market values provided are level 2 valuations as defined by ASC 820, Fair Value Measurements and Disclosures

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible Assets September 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: September 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 15 $ 3,500 $ (1,536) $ 1,964 $ 3,500 $ (1,361) $ 2,139 Total amortizable intangible assets $ 3,500 $ (1,536) $ 1,964 $ 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 $ 58,000 175,000 182,000

Segment Information

Segment Information	9 Months Ended
	Sep. 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. Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 60,200 $ 4,291 $ 11,887 $ 76,378 Licensing revenues 528 - - 528 Net sales $ 60,728 $ 4,291 $ 11,887 $ 76,906 Earnings from operations $ 7,416 $ 17 $ 369 $ 7,802 2016 Product sales $ 61,645 $ 4,702 $ 12,197 $ 78,544 Licensing revenues 525 - - 525 Net sales $ 62,170 $ 4,702 $ 12,197 $ 79,069 Earnings from operations $ 6,710 $ 313 $ 731 $ 7,754 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 154,049 $ 13,979 $ 33,631 $ 201,659 Licensing revenues 1,820 - - 1,820 Net sales $ 155,869 $ 13,979 $ 33,631 $ 203,479 Earnings from operations $ 11,880 $ 244 $ 1,027 $ 13,151 2016 Product sales $ 164,145 $ 14,508 $ 34,452 $ 213,105 Licensing revenues 1,731 - - 1,731 Net sales $ 165,876 $ 14,508 $ 34,452 $ 214,836 Earnings from operations $ 11,910 $ 787 $ 1,292 $ 13,989

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. Employee Retirement Plans pension Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Service cost $ 141 $ 409 $ 423 $ 1,228 Interest cost 552 612 1,655 1,837 Expected return on plan assets (576) (607) (1,727) (1,822) Net amortization and deferral 132 419 395 1,257 Net periodic pension cost $ 249 $ 833 $ 746 $ 2,500 The components of net periodic pension The Company made a $ 4.0

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation Plans During the three and nine months ended September 30, 2017, the Company recognized approximately $ 395,000 1,174,000 393,000 1,121,000 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2016 1,486,257 $ 26.13 Granted 211,200 $ 27.94 Exercised (81,464) $ 24.71 Forfeited or expired (14,175) $ 26.46 Outstanding at September 30, 2017 1,601,818 $ 26.44 3.9 $ 3,149,000 Exercisable at September 30, 2017 898,106 $ 26.19 2.4 $ 1,992,000 * 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 September 29, 2017, the last trading day of the quarter, 28.38 The following table summarizes the Company’s stock option exercise activity for the three and nine months ended September 30, 2017 and 2016: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Total intrinsic value of stock options exercised $ 208 $ 14 $ 272 $ 87 Cash received from stock option exercises $ 1,575 $ 132 $ 2,013 $ 585 Income tax benefit from the exercise of stock options $ 81 $ 5 $ 106 $ 34 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 30,800 27.94 Vested (18,600) 26.05 Forfeited - - Non-vested at September 30, 2017 70,700 $ 26.90 2.9 $ 2,006,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 29, 2017, the last trading day of the quarter, 28.38

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2017
Short-term Debt [Abstract]
Short-term Debt [Text Block]	10. Short-Term Borrowings At September 30, 2017, the Company had a $ 60 November 3, 2017 4.8 2.0 4.8 . Subsequent to September 30, 2017, the line of credit agreement was renewed on the same terms for another one-year period, expiring November 4, 2018

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2017
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	11. Financial Instruments At September 30, 2017, the Company had foreign exchange contracts outstanding to sell $ 8.0 6.0 3.7 4.7 200,000 299,000 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	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	12. Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Net earnings $ 4,920 $ 4,701 $ 8,338 $ 8,411 Foreign currency translation adjustments 452 261 1,672 1,222 Pension liability, net of tax of $52, $163, $154 and $490, respectively 80 256 241 767 Total comprehensive income $ 5,452 $ 5,218 $ 10,251 $ 10,400 September 30, December 31, 2017 2016 (Dollars in thousands) Foreign currency translation adjustments $ (4,158) $ (5,489) Pension liability, net of tax (10,839) (11,080) Total accumulated other comprehensive loss $ (14,997) $ (16,569) Foreign Defined Total Beginning balance, December 31, 2016 $ (5,489) $ (11,080) $ (16,569) Other comprehensive income before reclassifications 1,331 - 1,331 Amounts reclassified from accumulated other comprehensive loss - 241 241 Net current period other comprehensive income 1,331 241 1,572 Ending balance, September 30, 2017 $ (4,158) $ (10,839) $ (14,997) Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (47) (1) Other expense, net Actuarial losses 442 (1) Other expense, net Total before tax 395 Tax benefit (154) Net of tax $ 241 (1) These amounts were included in the net periodic pension cost. See Note 8 for additional details.

Equity

Equity	9 Months Ended
	Sep. 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 - - 8,408 - (70) Foreign currency translation adjustments - - - 1,331 341 Pension liability adjustment, net of tax - - - 241 - Cash dividends declared - - (6,725) - - Cash dividends paid to noncontrolling interest - - - - (204) Stock options exercised 82 1,931 - - - Issuance of restricted stock 31 (31) - - - Stock-based compensation expense - 1,174 - - - Shares purchased and retired (421) - (11,200) - - Balance, September 30, 2017 $ 10,197 $ 53,258 $ 147,951 $ (14,997) $ 6,759

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	14. Subsequent Events On October 31, 2017, the Company’s Board of Directors authorized the repurchase of an additional 1.0 million shares of common stock under its repurchase program, bringing the total available to purchase to approximately 1.1 million shares.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 4,934 $ 4,600 $ 8,408 $ 8,287 Denominator: Basic weighted average shares outstanding 10,160 10,461 10,299 10,556 Effect of dilutive securities: Employee stock-based awards 58 55 61 49 Diluted weighted average shares outstanding 10,218 10,516 10,360 10,605 Basic earnings per share $ 0.49 $ 0.44 $ 0.82 $ 0.79 Diluted earnings per share $ 0.48 $ 0.44 $ 0.81 $ 0.78

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 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 September 30, 2017, and December 31, 2016. September 30, 2017 December 31, 2016 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 11,354 $ 11,380 $ 4,601 $ 4,610 Due from one through five years 9,819 10,157 12,133 12,486 Due from six through ten years 5,789 6,050 7,705 7,804 Due from eleven through twenty years 2,665 2,763 1,223 1,222 Total $ 29,627 $ 30,350 $ 25,662 $ 26,122
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at September 30, 2017, and at December 31, 2016, were as follows: September 30, 2017 December 31, 2016 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 759 $ (36) $ 546 $ (86)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	September 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: September 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 15 $ 3,500 $ (1,536) $ 1,964 $ 3,500 $ (1,361) $ 2,139 Total amortizable intangible assets $ 3,500 $ (1,536) $ 1,964 $ 3,500 $ (1,361) $ 2,139

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 60,200 $ 4,291 $ 11,887 $ 76,378 Licensing revenues 528 - - 528 Net sales $ 60,728 $ 4,291 $ 11,887 $ 76,906 Earnings from operations $ 7,416 $ 17 $ 369 $ 7,802 2016 Product sales $ 61,645 $ 4,702 $ 12,197 $ 78,544 Licensing revenues 525 - - 525 Net sales $ 62,170 $ 4,702 $ 12,197 $ 79,069 Earnings from operations $ 6,710 $ 313 $ 731 $ 7,754 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2017 Product sales $ 154,049 $ 13,979 $ 33,631 $ 201,659 Licensing revenues 1,820 - - 1,820 Net sales $ 155,869 $ 13,979 $ 33,631 $ 203,479 Earnings from operations $ 11,880 $ 244 $ 1,027 $ 13,151 2016 Product sales $ 164,145 $ 14,508 $ 34,452 $ 213,105 Licensing revenues 1,731 - - 1,731 Net sales $ 165,876 $ 14,508 $ 34,452 $ 214,836 Earnings from operations $ 11,910 $ 787 $ 1,292 $ 13,989

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The components of the Company’s net periodic pension Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Service cost $ 141 $ 409 $ 423 $ 1,228 Interest cost 552 612 1,655 1,837 Expected return on plan assets (576) (607) (1,727) (1,822) Net amortization and deferral 132 419 395 1,257 Net periodic pension cost $ 249 $ 833 $ 746 $ 2,500

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes the Company’s stock option activity for the nine-month period ended September 30, 2017: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2016 1,486,257 $ 26.13 Granted 211,200 $ 27.94 Exercised (81,464) $ 24.71 Forfeited or expired (14,175) $ 26.46 Outstanding at September 30, 2017 1,601,818 $ 26.44 3.9 $ 3,149,000 Exercisable at September 30, 2017 898,106 $ 26.19 2.4 $ 1,992,000 * 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 September 29, 2017, the last trading day of the quarter, 28.38
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 nine months ended September 30, 2017 and 2016: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Total intrinsic value of stock options exercised $ 208 $ 14 $ 272 $ 87 Cash received from stock option exercises $ 1,575 $ 132 $ 2,013 $ 585 Income tax benefit from the exercise of stock options $ 81 $ 5 $ 106 $ 34
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2017: 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 30,800 27.94 Vested (18,600) 26.05 Forfeited - - Non-vested at September 30, 2017 70,700 $ 26.90 2.9 $ 2,006,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 29, 2017, the last trading day of the quarter, 28.38

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three and nine months ended September 30, 2017 and 2016, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Net earnings $ 4,920 $ 4,701 $ 8,338 $ 8,411 Foreign currency translation adjustments 452 261 1,672 1,222 Pension liability, net of tax of $52, $163, $154 and $490, respectively 80 256 241 767 Total comprehensive income $ 5,452 $ 5,218 $ 10,251 $ 10,400
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: September 30, December 31, 2017 2016 (Dollars in thousands) Foreign currency translation adjustments $ (4,158) $ (5,489) Pension liability, net of tax (10,839) (11,080) Total accumulated other comprehensive loss $ (14,997) $ (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 nine months ended September 30, 2017: Foreign Defined Total Beginning balance, December 31, 2016 $ (5,489) $ (11,080) $ (16,569) Other comprehensive income before reclassifications 1,331 - 1,331 Amounts reclassified from accumulated other comprehensive loss - 241 241 Net current period other comprehensive income 1,331 241 1,572 Ending balance, September 30, 2017 $ (4,158) $ (10,839) $ (14,997)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2017: Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (47) (1) Other expense, net Actuarial losses 442 (1) Other expense, net Total before tax 395 Tax benefit (154) Net of tax $ 241 (1) 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, 2017
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	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 - - 8,408 - (70) Foreign currency translation adjustments - - - 1,331 341 Pension liability adjustment, net of tax - - - 241 - Cash dividends declared - - (6,725) - - Cash dividends paid to noncontrolling interest - - - - (204) Stock options exercised 82 1,931 - - - Issuance of restricted stock 31 (31) - - - Stock-based compensation expense - 1,174 - - - Shares purchased and retired (421) - (11,200) - - Balance, September 30, 2017 $ 10,197 $ 53,258 $ 147,951 $ (14,997) $ 6,759

Reclassifications (Details Text

Reclassifications (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Prior Period Reclassification Adjustment	$ 424,000	$ 1,272,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 4,934	$ 4,600	$ 8,408	$ 8,287
Denominator:
Basic weighted average shares outstanding	10,160	10,461	10,299	10,556
Effect of dilutive securities:
Employee stock-based awards	58	55	61	49
Diluted weighted average shares outstanding	10,218	10,516	10,360	10,605
Basic earnings per share	$ 0.49	$ 0.44	$ 0.82	$ 0.79
Diluted earnings per share	$ 0.48	$ 0.44	$ 0.81	$ 0.78

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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)	1,116,325	1,232,000	844,036	924,161
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.49	$ 26.14	$ 26.93	$ 26.78

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 11,354	$ 4,601
Held-to-maturity Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	11,354	4,601
Amortized Cost, Due from one through five years	9,819	12,133
Amortized Cost, Due from six through ten years	5,789	7,705
Amortized Cost, Due from eleven through twenty years	2,665	1,223
Amortized Cost, Total	29,627	25,662
Market Value, Current	11,380	4,610
Market Value, Due from one through five years	10,157	12,486
Market Value, Due from six through ten years	6,050	7,804
Market Value, Due from eleven through twenty years	2,763	1,222
Market Value, Total	$ 30,350	$ 26,122

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Net Investment Income [Line Items]
Unrealized Gains	$ 759	$ 546
Unrealized Losses	$ (36)	$ (86)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 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	(1,536)	(1,361)
Net	1,964	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	(1,536)	(1,361)
Net	$ 1,964	$ 2,139

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 175,000	$ 182,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Product sales	$ 76,378	$ 78,544	$ 201,659	$ 213,105
Licensing revenues	528	525	1,820	1,731
Net sales	76,906	79,069	203,479	214,836
Earnings from operations	7,802	7,754	13,151	13,989
Wholesale [Member]
Segment Reporting Information [Line Items]
Product sales	60,200	61,645	154,049	164,145
Licensing revenues	528	525	1,820	1,731
Net sales	60,728	62,170	155,869	165,876
Earnings from operations	7,416	6,710	11,880	11,910
Retail [Member]
Segment Reporting Information [Line Items]
Product sales	4,291	4,702	13,979	14,508
Licensing revenues	0	0	0	0
Net sales	4,291	4,702	13,979	14,508
Earnings from operations	17	313	244	787
Other [Member]
Segment Reporting Information [Line Items]
Product sales	11,887	12,197	33,631	34,452
Licensing revenues	0	0	0	0
Net sales	11,887	12,197	33,631	34,452
Earnings from operations	$ 369	$ 731	$ 1,027	$ 1,292

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 141	$ 409	$ 423	$ 1,228
Interest cost	552	612	1,655	1,837
Expected return on plan assets	(576)	(607)	(1,727)	(1,822)
Net amortization and deferral	132	419	395	1,257
Net periodic pension cost	$ 249	$ 833	$ 746	$ 2,500

Employee Retirement Plans (De36

Employee Retirement Plans (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Pension Contributions	$ 4,000	$ 2,400

Stock-Based Compensation Plan37

Stock-Based Compensation Plans (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of year | shares	1,486,257
Granted | shares	211,200
Shares, Exercised | shares	(81,464)
Shares, Forfeited or expired | shares	(14,175)
Shares, Outstanding at end of year | shares	1,601,818
Shares, Exercisable at end of year | shares	898,106
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 26.13
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares	27.94
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	24.71
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	26.46
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	26.44
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 26.19
Weighted Average Remaining Contractual Life (Years), Outstanding - September 30, 2017	3 years 10 months 24 days
Weighted Average Remaining Contractual Life (Years), Exercisable - September 30, 2017	2 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding at September 30, 2017 | $	$ 3,149,000	[1]
Aggregate Intrinsic Value, Exercisable at September 30, 2017 | $	$ 1,992,000	[1]
[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 September 29, 2017, the last trading day of the quarter, of $28.38 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Stock-Based Compensation Plan38

Stock-Based Compensation Plans (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 208	$ 14	$ 272	$ 87
Cash received from stock option exercises	1,575	132	2,013	585
Income tax benefit from the exercise of stock options	$ 81	$ 5	$ 106	$ 34

Stock-Based Compensation Plan39

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member]	9 Months Ended
	Sep. 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	30,800
Shares of Restricted Stock, Vested | shares	(18,600)
Shares of Restricted Stock, Forfeited | shares	0
Shares of Restricted Stock, Non-vested end of year | shares	70,700
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	27.94
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	26.05
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	$ 26.9
Weighted Average Remaining Contractual Term (Years), Non-vested at September 30, 2017	2 years 10 months 24 days
Aggregate Intrinsic Value (in dollars), Non-vested at September 30, 2017 | $	$ 2,006,000	[1]
[1]	The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 29, 2017, the last trading day of the quarter, of $28.38 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan40

Stock-Based Compensation Plans (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 395,000	$ 393,000	$ 1,174,000	$ 1,121,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 28.38		$ 28.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share			$ 28.38

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Millions	Nov. 14, 2017	Sep. 30, 2017
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total		$ 60
Line of Credit Facility, Maximum Amount Outstanding During Period		$ 4.8
Debt Instrument, Interest Rate at Period End		2.00%
Line of Credit Facility, Expiration Date		Nov. 3, 2017
Long-term Line of Credit		$ 4.8
Line of Credit Facility, Interest Rate Description		(LIBOR) plus 0.75%
Subsequent Event [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Expiration Date	Nov. 4, 2018
Line of Credit Facility, Renewal Term	the line of credit agreement was renewed on the same terms for another one-year period

Financial Instruments (Details

Financial Instruments (Details Textual) - Sep. 30, 2017 CAD in Millions, $ in Millions	USD ($)	CAD	EUR (€)	AUD
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value | AUD				AUD 299,000
Foreign Exchange Contract [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value | €			€ 200,000
Foreign Exchange Contracts, Australian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 3.7			AUD 4,700,000
Foreign Exchange Contracts, Canadian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 6	CAD 8

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net earnings	$ 4,920	$ 4,701	$ 8,338	$ 8,411
Foreign currency translation adjustments	452	261	1,672	1,222
Pension liability, net of tax of $52, $163, $154 and $490, respectively	80	256	241	767
Total comprehensive income	$ 5,452	$ 5,218	$ 10,251	$ 10,400

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Foreign currency translation adjustments	$ (4,158)	$ (5,489)
Pension liability, net of tax	(10,839)	(11,080)
Total accumulated other comprehensive loss	$ (14,997)	$ (16,569)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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			1,331
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive income			1,331
Foreign Currency Translation Adjustments, Ending balance	$ (4,158)		(4,158)
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	80	$ 256	241	$ 767
Defined Benefit Pension Items, Net current period other comprehensive income			241
Defined Benefit Pension Items, Ending balance	(10,839)		(10,839)
Beginning balance			(16,569)
Other comprehensive income before reclassifications			1,331
Amounts reclassified from accumulated other comprehensive loss			241
Net current period other comprehensive income			1,572
Ending balance	$ (14,997)		$ (14,997)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Amortization of defined benefit pension items
Prior service cost	[1]			$ (47)
Actuarial losses	[1]			442
Total before tax				395
Tax benefit				(154)
Net of tax		$ 80	$ 256	$ 241	$ 767
[1]	These amounts were included in the net periodic pension cost. See Note 8 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax	$ 52	$ 163	$ 154	$ 490

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			$ 208,280
Net earnings	$ 4,920	$ 4,701	8,338	$ 8,411
Foreign currency translation adjustments	452	$ 261	1,672	$ 1,222
Pension liability adjustment, net of tax			(241)
Balance, September 30, 2017	203,168		203,168
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			82
Issuance of restricted stock			31
Stock-based compensation expense			0
Shares purchased and retired			(421)
Balance, September 30, 2017	10,197		10,197
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			1,931
Issuance of restricted stock			(31)
Stock-based compensation expense			1,174
Shares purchased and retired			0
Balance, September 30, 2017	53,258		53,258
Reinvested Earnings [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			157,468
Net earnings			8,408
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			(6,725)
Cash dividends paid to noncontrolling interest			0
Stock options exercised			0
Issuance of restricted stock			0
Stock-based compensation expense			0
Shares purchased and retired			(11,200)
Balance, September 30, 2017	147,951		147,951
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			(16,569)
Net earnings			0
Foreign currency translation adjustments			1,331
Pension liability adjustment, net of tax			241
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Stock options exercised			0
Issuance of restricted stock			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, September 30, 2017	(14,997)		(14,997)
Noncontrolling Interest [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2016			6,692
Net earnings			(70)
Foreign currency translation adjustments			341
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			(204)
Stock options exercised			0
Issuance of restricted stock			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, September 30, 2017	$ 6,759		$ 6,759

Subsequent Events (Details Text

Subsequent Events (Details Textual) - Subsequent Event [Member] shares in Millions	Oct. 31, 2017shares
Subsequent Event [Line Items]
Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased	1
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1.1