Weyco (WEYS) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		10,280,518

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 30,082	$ 23,453
Marketable securities, at amortized cost	5,326	5,970
Accounts receivable, net	50,771	49,451
Income tax receivable	176	669
Inventories	51,087	60,270
Prepaid expenses and other current assets	3,237	5,770
Total current assets	140,679	145,583
Marketable securities, at amortized cost	18,186	17,669
Deferred income tax benefits	741	750
Property, plant and equipment, net	30,758	31,643
Goodwill	11,112	11,112
Trademarks	32,978	32,978
Other assets	23,096	23,097
Total assets	257,550	262,832
LIABILITIES AND EQUITY:
Accounts payable	5,263	8,905
Dividend payable	0	2,228
Accrued liabilities	11,027	14,031
Total current liabilities	16,290	25,164
Deferred income tax liabilities	2,237	2,069
Long-term pension liability	27,643	27,766
Other long-term liabilities	2,016	2,174
Total liabilities	48,186	57,173
Common stock	10,268	10,162
Capital in excess of par value	59,013	55,884
Reinvested earnings	151,080	150,350
Accumulated other comprehensive loss	(17,826)	(17,859)
Total Weyco Group, Inc. equity	202,535	198,537
Noncontrolling interest	6,829	7,122
Total equity	209,364	205,659
Total liabilities and equity	$ 257,550	$ 262,832

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 69,526	$ 69,120
Cost of sales	42,901	43,892
Gross earnings	26,625	25,228
Selling and administrative expenses	23,058	21,769
Earnings from operations	3,567	3,459
Interest income	233	179
Interest expense	0	(7)
Other expense, net	(43)	(135)
Earnings before provision for income taxes	3,757	3,496
Provision for income taxes	941	1,381
Net earnings	2,816	2,115
Net loss attributable to noncontrolling interest	(171)	(102)
Net earnings attributable to Weyco Group, Inc.	$ 2,987	$ 2,217
Weighted average shares outstanding
Basic (in shares)	10,173	10,435
Diluted (in shares)	10,361	10,498
Earnings per share
Basic (in dollars per share)	$ 0.29	$ 0.21
Diluted (in dollars per share)	0.29	0.21
Cash dividends declared (per share)	$ 0.22	$ 0.21
Comprehensive income	$ 2,815	$ 2,875
Comprehensive (loss) income attributable to noncontrolling interest	(205)	166
Comprehensive income attributable to Weyco Group, Inc.	$ 3,020	$ 2,709

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 2,816	$ 2,115
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	962	1,001
Amortization	92	97
Bad debt expense	105	133
Deferred income taxes	135	10
Net foreign currency transaction (gains) losses	(14)	1
Stock-based compensation	351	369
Pension expense	213	266
Increase in cash surrender value of life insurance	(135)	(135)
Changes in operating assets and liabilities -
Accounts receivable	(1,415)	2,823
Inventories	9,165	14,765
Prepaid expenses and other assets	2,590	3,210
Accounts payable	(3,586)	(7,096)
Accrued liabilities and other	(3,402)	(1,276)
Accrued income taxes	490	981
Net cash provided by operating activities	8,367	17,264
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	(1,241)	(250)
Proceeds from maturities of marketable securities	1,350	1,850
Purchases of property, plant and equipment	(125)	(416)
Net cash (used for) provided by investing activities	(16)	1,184
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(4,471)	(4,378)
Cash dividends paid to noncontrolling interest of subsidiary	(88)	(204)
Shares purchased and retired	0	(2,393)
Proceeds from stock options exercised	2,884	356
Proceeds from bank borrowings	0	6,816
Repayments of bank borrowings	0	(11,084)
Net cash used for financing activities	(1,675)	(10,887)
Effect of exchange rate changes on cash and cash equivalents	(47)	202
Net increase in cash and cash equivalents	6,629	7,763
CASH AND CASH EQUIVALENTS at beginning of period	23,453	13,710
CASH AND CASH EQUIVALENTS at end of period	30,082	21,473
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	146	308
Interest paid	$ 0	$ 7

Financial Statements

Financial Statements	3 Months Ended
	Mar. 31, 2018
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-month period ended March 31, 2018, may not necessarily be indicative of the results for the full year.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. New Accounting Pronouncements On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, Revenue - Revenue from Contracts with Customers

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue Recognition [Text Block]	3. Revenue Recognition The Company’s revenue contracts represent a single performance obligation to sell its products to its customers. Sales are recorded at the time control of the products is transferred to customers in an amount that reflects the consideration the Company expects to receive in exchange for the products. All revenue is recorded net of estimated allowances for returns and discounts; these revenue offsets are accrued at the time of the sale. Generally, payments from customers are received within 90 days following the sale. The Company’s contracts with customers do not have significant financing components or significant prepayments from customers, and there is no non-cash consideration. The Company does not have unbilled revenue, and there are no contract assets or contract liabilities.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	4. Earnings Per Share Three Months Ended March 31, 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 2,987 $ 2,217 Denominator: Basic weighted average shares outstanding 10,173 10,435 Effect of dilutive securities: Employee stock-based awards 188 63 Diluted weighted average shares outstanding 10,361 10,498 Basic earnings per share $ 0.29 $ 0.21 Diluted earnings per share $ 0.29 $ 0.21 Diluted weighted average shares outstanding for the three months ended March 31, 2018, exclude anti-dilutive stock options totaling 207,000 27.94 573,000 27.45

Investments

Investments	3 Months Ended
	Mar. 31, 2018
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, 2017, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of March 31, 2018, and December 31, 2017. March 31, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 5,326 $ 5,331 $ 5,970 $ 5,977 Due from one through five years 10,142 10,331 10,260 10,536 Due from six through ten years 5,424 5,497 5,005 5,197 Due from eleven through twenty years 2,620 2,685 2,404 2,539 Total $ 23,512 $ 23,844 $ 23,639 $ 24,249 The unrealized gains and losses on marketable securities at March 31, 2018, and at December 31, 2017, were as follows: March 31, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 415 $ (83) $ 634 $ (24) The estimated market values provided are level 2 valuations as defined by ASC 820, Fair Value Measurements and Disclosures

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible Assets March 31, 2018 December 31, 2017 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 March 31, 2018 December 31, 2017 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 $ (1,653) $ 1,847 $ 3,500 $ (1,594) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,653) $ 1,847 $ 3,500 $ (1,594) $ 1,906 Amortization expense related to the intangible assets was approximately $ 60,000

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
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 table 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 March 31, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 52,995 $ 4,927 $ 10,811 $ 68,733 Licensing revenues 793 - - 793 Net sales $ 53,788 $ 4,927 $ 10,811 $ 69,526 Earnings (loss) from operations $ 3,390 $ 206 $ (29) $ 3,567 2017 Product sales $ 52,149 $ 4,930 $ 11,340 $ 68,419 Licensing revenues 701 - - 701 Net sales $ 52,850 $ 4,930 $ 11,340 $ 69,120 Earnings from operations $ 3,166 $ 43 $ 250 $ 3,459

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Mar. 31, 2018
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. Employee Retirement Plans Three Months Ended March 31, 2018 2017 (Dollars in thousands) Service cost $ 151 $ 140 Interest cost 549 548 Expected return on plan assets (646) (542) Net amortization and deferral 159 120 Net periodic pension cost $ 213 $ 266 The components of net periodic pension cost other than the service cost component were included in "other expense, net" in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited).

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2018
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 months ended March 31, 2018, the Company recognized approximately $ 351,000 369,000 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2017 1,502,493 $ 26.57 Exercised (107,743) $ 26.76 Forfeited or expired (11,575) $ 26.52 Outstanding at March 31, 2018 1,383,175 $ 26.56 3.7 $ 9,744,000 Exercisable at March 31, 2018 769,388 $ 26.57 2.1 $ 5,412,000 * 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 March 29, 2018, the last trading day of the quarter, of $ 33.60 Three Months Ended March 31, 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 501 $ 41 Cash received from stock option exercises $ 2,884 $ 356 Income tax benefit from the exercise of stock options $ 130 $ 15 Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2017 66,050 $ 26.79 Issued - - Vested - - Forfeited (1,675) 26.59 Non-vested at March 31, 2018 64,375 $ 26.80 2.6 $ 2,163,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2018, the last trading day of the quarter, of $ 33.60

Short-Term Borrowings

Short-Term Borrowings	3 Months Ended
	Mar. 31, 2018
Short-term Debt [Abstract]
Short-term Debt [Text Block]	10. Short-Term Borrowings At March 31, 2018, the Company had a $ 60 November 4, 2018 0.75%

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2018
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	11. Financial Instruments At March 31, 2018, the Company’s majority-owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $ 2.2 2.8 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	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	12. Comprehensive Income Three Months Ended March 31, 2018 2017 (Dollars in thousands) Net earnings $ 2,816 $ 2,115 Foreign currency translation adjustments (119) 687 Pension liability, net of tax of $41 and $47, respectively 118 73 Total comprehensive income $ 2,815 $ 2,875 March 31, December 31, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (4,271) $ (4,186) Pension liability, net of tax (13,555) (13,673) Total accumulated other comprehensive loss $ (17,826) $ (17,859) Foreign Defined Total Beginning balance, December 31, 2017 $ (4,186) $ (13,673) $ (17,859) Other comprehensive loss before reclassifications (85) - (85) Amounts reclassified from accumulated other comprehensive loss - 118 118 Net current period other comprehensive (loss) income (85) 118 33 Ending balance, March 31, 2018 $ (4,271) $ (13,555) $ (17,826) Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (16) (1) Other expense, net Actuarial losses 175 (1) Other expense, net Total before tax 159 Tax benefit (41) Net of tax $ 118 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details.

Equity

Equity	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	13. Equity The following table reconciles the Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859) $ 7,122 Net earnings - - 2,987 - (171) Foreign currency translation adjustments - - - (85) (34) Pension liability adjustment, net of tax - - - 118 - Cash dividends declared - - (2,257) - - Cash dividends paid to noncontrolling interest - - - - (88) Stock options exercised 108 2,776 - - - Restricted stock forfeited (2) 2 - - - Stock-based compensation expense - 351 - - - Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826) $ 6,829

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 2,987 $ 2,217 Denominator: Basic weighted average shares outstanding 10,173 10,435 Effect of dilutive securities: Employee stock-based awards 188 63 Diluted weighted average shares outstanding 10,361 10,498 Basic earnings per share $ 0.29 $ 0.21 Diluted earnings per share $ 0.29 $ 0.21

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018, and December 31, 2017. March 31, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 5,326 $ 5,331 $ 5,970 $ 5,977 Due from one through five years 10,142 10,331 10,260 10,536 Due from six through ten years 5,424 5,497 5,005 5,197 Due from eleven through twenty years 2,620 2,685 2,404 2,539 Total $ 23,512 $ 23,844 $ 23,639 $ 24,249
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at March 31, 2018, and at December 31, 2017, were as follows: March 31, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 415 $ (83) $ 634 $ (24)

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	March 31, 2018 December 31, 2017 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 March 31, 2018 December 31, 2017 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 $ (1,653) $ 1,847 $ 3,500 $ (1,594) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,653) $ 1,847 $ 3,500 $ (1,594) $ 1,906

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Summarized segment data for the three months ended March 31, 2018 and 2017, was as follows: Three Months Ended March 31, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 52,995 $ 4,927 $ 10,811 $ 68,733 Licensing revenues 793 - - 793 Net sales $ 53,788 $ 4,927 $ 10,811 $ 69,526 Earnings (loss) from operations $ 3,390 $ 206 $ (29) $ 3,567 2017 Product sales $ 52,149 $ 4,930 $ 11,340 $ 68,419 Licensing revenues 701 - - 701 Net sales $ 52,850 $ 4,930 $ 11,340 $ 69,120 Earnings from operations $ 3,166 $ 43 $ 250 $ 3,459

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The components of the Company’s net periodic pension cost were as follows: Three Months Ended March 31, 2018 2017 (Dollars in thousands) Service cost $ 151 $ 140 Interest cost 549 548 Expected return on plan assets (646) (542) Net amortization and deferral 159 120 Net periodic pension cost $ 213 $ 266

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2018
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 three-month period ended March 31, 2018: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2017 1,502,493 $ 26.57 Exercised (107,743) $ 26.76 Forfeited or expired (11,575) $ 26.52 Outstanding at March 31, 2018 1,383,175 $ 26.56 3.7 $ 9,744,000 Exercisable at March 31, 2018 769,388 $ 26.57 2.1 $ 5,412,000 * 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 March 29, 2018, the last trading day of the quarter, of $ 33.60
Share-based Compensation, Stock Options Exercised, Activity [Table Text Block]	The following table summarizes the Company’s stock option exercise activity for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 501 $ 41 Cash received from stock option exercises $ 2,884 $ 356 Income tax benefit from the exercise of stock options $ 130 $ 15
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, 2017 66,050 $ 26.79 Issued - - Vested - - Forfeited (1,675) 26.59 Non-vested at March 31, 2018 64,375 $ 26.80 2.6 $ 2,163,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2018, the last trading day of the quarter, of $ 33.60

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three months ended March 31, 2018 and 2017, was as follows: Three Months Ended March 31, 2018 2017 (Dollars in thousands) Net earnings $ 2,816 $ 2,115 Foreign currency translation adjustments (119) 687 Pension liability, net of tax of $41 and $47, respectively 118 73 Total comprehensive income $ 2,815 $ 2,875
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: March 31, December 31, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (4,271) $ (4,186) Pension liability, net of tax (13,555) (13,673) Total accumulated other comprehensive loss $ (17,826) $ (17,859)
Changes In Accumulated Other Comprehensive Loss [Table Text Block]	The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the three months ended March 31, 2018: Foreign Defined Total Beginning balance, December 31, 2017 $ (4,186) $ (13,673) $ (17,859) Other comprehensive loss before reclassifications (85) - (85) Amounts reclassified from accumulated other comprehensive loss - 118 118 Net current period other comprehensive (loss) income (85) 118 33 Ending balance, March 31, 2018 $ (4,271) $ (13,555) $ (17,826)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (16) (1) Other expense, net Actuarial losses 175 (1) Other expense, net Total before tax 159 Tax benefit (41) Net of tax $ 118 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following table reconciles the Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859) $ 7,122 Net earnings - - 2,987 - (171) Foreign currency translation adjustments - - - (85) (34) Pension liability adjustment, net of tax - - - 118 - Cash dividends declared - - (2,257) - - Cash dividends paid to noncontrolling interest - - - - (88) Stock options exercised 108 2,776 - - - Restricted stock forfeited (2) 2 - - - Stock-based compensation expense - 351 - - - Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826) $ 6,829

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 2,987	$ 2,217
Denominator:
Basic weighted average shares outstanding	10,173	10,435
Effect of dilutive securities:
Employee stock-based awards	188	63
Diluted weighted average shares outstanding	10,361	10,498
Basic earnings per share	$ 0.29	$ 0.21
Diluted earnings per share	$ 0.29	$ 0.21

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	207,000	573,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 27.94	$ 27.45

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 5,326	$ 5,970
Held-to-maturity Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	5,326	5,970
Amortized Cost, Due from one through five years	10,142	10,260
Amortized Cost, Due from six through ten years	5,424	5,005
Amortized Cost, Due from eleven through twenty years	2,620	2,404
Amortized Cost, Total	23,512	23,639
Market Value, Current	5,331	5,977
Market Value, Due from one through five years	10,331	10,536
Market Value, Due from six through ten years	5,497	5,197
Market Value, Due from eleven through twenty years	2,685	2,539
Market Value, Total	$ 23,844	$ 24,249

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Unrealized Gains	$ 415	$ 634
Unrealized Losses	$ (83)	$ (24)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
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	(1,653)	(1,594)
Net	1,847	1,906
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	(1,653)	(1,594)
Net	$ 1,847	$ 1,906

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 60,000	$ 60,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Product sales	$ 68,733	$ 68,419
Licensing revenues	793	701
Net sales	69,526	69,120
Earnings (loss) from operations	3,567	3,459
Wholesale [Member]
Segment Reporting Information [Line Items]
Product sales	52,995	52,149
Licensing revenues	793	701
Net sales	53,788	52,850
Earnings (loss) from operations	3,390	3,166
Retail [Member]
Segment Reporting Information [Line Items]
Product sales	4,927	4,930
Licensing revenues	0	0
Net sales	4,927	4,930
Earnings (loss) from operations	206	43
Other [Member]
Segment Reporting Information [Line Items]
Product sales	10,811	11,340
Licensing revenues	0	0
Net sales	10,811	11,340
Earnings (loss) from operations	$ (29)	$ 250

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 151	$ 140
Interest cost	549	548
Expected return on plan assets	(646)	(542)
Net amortization and deferral	159	120
Net periodic pension cost	$ 213	$ 266

Stock-Based Compensation Plan34

Stock-Based Compensation Plans (Details) - Employee Stock Option [Member]	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of year | shares	1,502,493
Shares, Exercised | shares	(107,743)
Shares, Forfeited or expired | shares	(11,575)
Shares, Outstanding at end of year | shares	1,383,175
Shares, Exercisable at end of year | shares	769,388
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 26.57
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	26.76
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	26.52
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	26.56
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 26.57
Weighted Average Remaining Contractual Life (Years), Outstanding - March 30, 2018	3 years 8 months 12 days
Weighted Average Remaining Contractual Life (Years), Exercisable - March 30, 2018	2 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at March 30, 2018 | $	$ 9,744,000	[1]
Aggregate Intrinsic Value, Exercisable at March 30, 2018 | $	$ 5,412,000	[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 March 29, 2018, the last trading day of the quarter, of $33.60 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Stock-Based Compensation Plan35

Stock-Based Compensation Plans (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 501	$ 41
Cash received from stock option exercises	2,884	356
Income tax benefit from the exercise of stock options	$ 130	$ 15

Stock-Based Compensation Plan36

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of year | shares	66,050
Shares of Restricted Stock, Issued | shares	0
Shares of Restricted Stock, Vested | shares	0
Shares of Restricted Stock, Forfeited | shares	(1,675)
Shares of Restricted Stock, Non-vested end of year | shares	64,375
Weighted Average Grant Date Fair Value, Non-vested beginning of year (in dollars per share) | $ / shares	$ 26.79
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	0
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	26.59
Weighted Average Grant Date Fair Value, Non-vested end of year (in dollars per share) | $ / shares	$ 26.8
Weighted Average Remaining Contractual Term (Years), Non-vested at March 30, 2018	2 years 7 months 6 days
Aggregate Intrinsic Value (in dollars), Non-vested at March 30, 2018 | $	$ 2,163,000	[1]
[1]	The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2018, the last trading day of the quarter, of $33.60 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan37

Stock-Based Compensation Plans (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 29, 2018	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 351,000	$ 369,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 33.60
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share	$ 33.60

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Short-term Debt [Line Items]
Line of Credit Facility, Expiration Date	Nov. 4, 2018
Line of Credit Facility, Interest Rate Description	LIBOR plus 0.75%
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total	$ 60

Financial Instruments (Details

Financial Instruments (Details Textual) - Mar. 31, 2018 $ in Millions, $ in Millions	USD ($)	AUD ($)
Foreign Exchange Contracts, Australian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 2.2	$ 2.8

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net earnings	$ 2,816	$ 2,115
Foreign currency translation adjustments	(119)	687
Pension liability, net of tax of $41 and $47, respectively	118	73
Total comprehensive income	$ 2,815	$ 2,875

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Foreign currency translation adjustments	$ (4,271)	$ (4,186)
Pension liability, net of tax	(13,555)	(13,673)
Total accumulated other comprehensive loss	$ (17,826)	$ (17,859)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign Currency Translation Adjustments, Beginning balance	$ (4,186)
Foreign Currency Translation Adjustments, Other comprehensive loss before reclassifications	(85)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss	0
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income	(85)
Foreign Currency Translation Adjustments, Ending balance	(4,271)
Defined Benefit Pension Items, Beginning balance	(13,673)
Defined Benefit Pension Items, Other comprehensive loss before reclassifications	0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	118	$ 73
Defined Benefit Pension Items, Net current period other comprehensive (loss) income	118
Defined Benefit Pension Items, Ending balance	(13,555)
Beginning balance	(17,859)
Other comprehensive loss before reclassifications	(85)
Amounts reclassified from accumulated other comprehensive loss	118
Net current period other comprehensive (loss) income	33
Ending balance	$ (17,826)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Amortization of defined benefit pension items
Prior service cost	[1]	$ (16)
Actuarial losses	[1]	175
Total before tax		159
Tax benefit		(41)
Net of tax		$ 118	$ 73
[1]	These amounts were included in net periodic pension cost. See Note 8 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax	$ 41	$ 47

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	$ 205,659
Net earnings	2,816	$ 2,115
Foreign currency translation adjustments	(119)	$ 687
Pension liability adjustment, net of tax	(118)
Balance, March 31, 2018	209,364
Common Stock [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	10,162
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	108
Restricted stock forfeited	(2)
Stock-based compensation expense	0
Balance, March 31, 2018	10,268
Capital in Excess of Par Value [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	55,884
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	2,776
Restricted stock forfeited	2
Stock-based compensation expense	351
Balance, March 31, 2018	59,013
Reinvested Earnings [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	150,350
Net earnings	2,987
Foreign currency translation adjustments	0
Pension liability adjustment, net of tax	0
Cash dividends declared	(2,257)
Cash dividends paid to noncontrolling interest	0
Stock options exercised	0
Restricted stock forfeited	0
Stock-based compensation expense	0
Balance, March 31, 2018	151,080
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	(17,859)
Net earnings	0
Foreign currency translation adjustments	(85)
Pension liability adjustment, net of tax	118
Cash dividends declared	0
Cash dividends paid to noncontrolling interest	0
Stock options exercised	0
Restricted stock forfeited	0
Stock-based compensation expense	0
Balance, March 31, 2018	(17,826)
Noncontrolling Interest [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017	7,122
Net earnings	(171)
Foreign currency translation adjustments	(34)
Pension liability adjustment, net of tax	0
Cash dividends declared	0
Cash dividends paid to noncontrolling interest	(88)
Stock options exercised	0
Restricted stock forfeited	0
Stock-based compensation expense	0
Balance, March 31, 2018	$ 6,829