Weyco (WEYS) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
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		10,160,124

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 23,998	$ 23,453
Marketable securities, at amortized cost	8,781	5,970
Accounts receivable, net	37,879	49,451
Income tax receivable	1,901	669
Inventories	56,530	60,270
Prepaid expenses and other current assets	3,413	5,770
Total current assets	132,502	145,583
Marketable securities, at amortized cost	17,421	17,669
Deferred income tax benefits	746	750
Property, plant and equipment, net	30,030	31,643
Goodwill	11,112	11,112
Trademarks	32,978	32,978
Other assets	23,019	23,097
Total assets	247,808	262,832
LIABILITIES AND EQUITY:
Accounts payable	5,878	8,905
Dividend payable	0	2,228
Accrued liabilities	10,520	14,031
Total current liabilities	16,398	25,164
Deferred income tax liabilities	2,990	2,069
Long-term pension liability	24,592	27,766
Other long-term liabilities	1,792	2,174
Total liabilities	45,772	57,173
Common stock	10,160	10,162
Capital in excess of par value	59,928	55,884
Reinvested earnings	143,921	150,350
Accumulated other comprehensive loss	(18,419)	(17,859)
Total Weyco Group, Inc. equity	195,590	198,537
Noncontrolling interest	6,446	7,122
Total equity	202,036	205,659
Total liabilities and equity	$ 247,808	$ 262,832

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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales	$ 60,888	$ 57,453	$ 130,414	$ 126,573
Cost of sales	37,182	35,363	80,083	79,255
Gross earnings	23,706	22,090	50,331	47,318
Selling and administrative expenses	21,759	20,200	44,817	41,969
Earnings from operations	1,947	1,890	5,514	5,349
Interest income	254	200	487	379
Interest expense	0	0	0	(7)
Other expense, net	(176)	(55)	(219)	(190)
Earnings before provision for income taxes	2,025	2,035	5,782	5,531
Provision for income taxes	502	732	1,443	2,113
Net earnings	1,523	1,303	4,339	3,418
Net (loss) earnings attributable to noncontrolling interest	(103)	46	(274)	(56)
Net earnings attributable to Weyco Group, Inc.	$ 1,626	$ 1,257	$ 4,613	$ 3,474
Weighted average shares outstanding
Basic (in shares)	10,214	10,305	10,194	10,370
Diluted (in shares)	10,505	10,368	10,433	10,433
Earnings per share
Basic (in dollars per share)	$ 0.16	$ 0.12	$ 0.45	$ 0.34
Diluted (in dollars per share)	0.15	0.12	0.44	0.33
Cash dividends declared (per share)	$ 0.23	$ 0.22	$ 0.45	$ 0.43
Comprehensive income	$ 650	$ 1,924	$ 3,465	$ 4,799
Comprehensive (loss) income attributable to noncontrolling interest	(383)	80	(588)	246
Comprehensive income attributable to Weyco Group, Inc.	$ 1,033	$ 1,844	$ 4,053	$ 4,553

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 4,339	$ 3,418
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	1,905	1,995
Amortization	171	186
Bad debt expense	160	291
Deferred income taxes	841	1,434
Net foreign currency transaction losses (gains)	105	(15)
Stock-based compensation	805	779
Pension contribution	(3,000)	(4,000)
Pension expense	426	497
Increase in cash surrender value of life insurance	(115)	(115)
Changes in operating assets and liabilities -
Accounts receivable	11,464	13,179
Inventories	3,714	9,041
Prepaid expenses and other assets	2,527	2,831
Accounts payable	(3,008)	(6,927)
Accrued liabilities and other	(5,213)	241
Accrued income taxes	(1,111)	(2,092)
Net cash provided by operating activities	14,010	20,743
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	(5,961)	(7,433)
Proceeds from maturities of marketable securities	3,375	3,015
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(491)	(772)
Net cash used for investing activities	(3,232)	(5,345)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(6,836)	(6,643)
Cash dividends paid to noncontrolling interest of subsidiary	(88)	(204)
Shares purchased and retired	(6,589)	(6,843)
Net proceeds from stock options exercised	4,048	438
Taxes paid related to the net share settlement of equity awards	(611)	0
Proceeds from bank borrowings	0	6,816
Repayments of bank borrowings	0	(11,084)
Net cash used for financing activities	(10,076)	(17,520)
Effect of exchange rate changes on cash and cash equivalents	(157)	266
Net increase (decrease) in cash and cash equivalents	545	(1,856)
CASH AND CASH EQUIVALENTS at beginning of period	23,453	13,710
CASH AND CASH EQUIVALENTS at end of period	23,998	11,854
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	1,927	2,805
Interest paid	$ 0	$ 7

Financial Statements

Financial Statements	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	NOTES: 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, 2018, may not necessarily be indicative of the results for the full year.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue from Contract with Customer [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.

Reclassifications

Reclassifications	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications [Text Block]	4. Reclassifications Certain prior year amounts in the Consolidated Condensed Statements of Cash Flows (Unaudited) were reclassified to conform to current year presentation. These reclassifications had no effect on previously reported net earnings or equity.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	5. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 1,626 $ 1,257 $ 4,613 $ 3,474 Denominator: Basic weighted average shares outstanding 10,214 10,305 10,194 10,370 Effect of dilutive securities: Employee stock-based awards 291 63 239 63 Diluted weighted average shares outstanding 10,505 10,368 10,433 10,433 Basic earnings per share $ 0.16 $ 0.12 $ 0.45 $ 0.34 Diluted earnings per share $ 0.15 $ 0.12 $ 0.44 $ 0.33 There were no anti-dilutive stock options for the three months ended June 30, 2018. Diluted weighted average shares outstanding for the six months ended June 30, 2018, exclude anti-dilutive stock options totaling approximately 207,000 shares of common stock at a weighted average price of $27.94. Diluted weighted average shares outstanding for the three months ended June 30, 2017, exclude anti-dilutive stock options totaling approximately 837,000 shares of common stock at a weighted average price of $26.85. Diluted weighted average shares outstanding for the six months ended June 30, 2017, exclude anti-dilutive stock options totaling approximately 706,000 shares of common stock at a weighted average price of $27.15.

Investments

Investments	6 Months Ended
	Jun. 30, 2018
Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	6. 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 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 June 30, 2018, and December 31, 2017. June 30, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 8,781 $ 8,783 $ 5,970 $ 5,977 Due from one through five years 9,550 9,719 10,260 10,536 Due from six through ten years 5,261 5,332 5,005 5,197 Due from eleven through twenty years 2,610 2,675 2,404 2,539 Total $ 26,202 $ 26,509 $ 23,639 $ 24,249 The unrealized gains and losses on marketable securities at June 30, 2018, and at December 31, 2017, were as follows: June 30, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 394 $ (87 ) $ 634 $ (24 ) 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, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	7. Intangible Assets The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 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 The Company’s amortizable intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 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 $ (1,711 ) $ 1,789 $ 3,500 $ (1,594 ) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,711 ) $ 1,789 $ 3,500 $ (1,594 ) $ 1,906 Amortization expense related to the intangible assets was approximately $58,000 in both the second quarters of 2018 and 2017. For the six months ended June 30, amortization expense related to the intangible assets was approximately $117,000 in both 2018 and in 2017. The amortizable intangible assets are included within other assets in the Consolidated Condensed Balance Sheets. (Unaudited).

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	8. 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, 2018 and 2017, was as follows: Three Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 45,167 $ 4,624 $ 10,625 $ 60,416 Licensing revenues 472 - - 472 Net sales $ 45,639 $ 4,624 $ 10,625 $ 60,888 Earnings from operations $ 1,748 $ 222 $ (23 ) $ 1,947 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 Six Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 98,161 $ 9,551 $ 21,436 $ 129,148 Licensing revenues 1,266 - - 1,266 Net sales $ 99,427 $ 9,551 $ 21,436 $ 130,414 Earnings from operations $ 5,139 $ 428 $ (53 ) $ 5,514 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

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	9. Employee Retirement Plans The components of the Company’s net periodic pension cost were as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Service cost $ 151 $ 142 $ 301 $ 282 Interest cost 549 555 1,098 1,103 Expected return on plan assets (646 ) (609 ) (1,292 ) (1,151 ) Net amortization and deferral 159 143 319 263 Net periodic pension cost $ 213 $ 231 $ 426 $ 497 The components of net periodic pension 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 $3.0 million pension contribution in the second quarter of 2018. No additional cash contributions are expected for the remainder of 2018.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. Stock-Based Compensation Plans During the three and six months ended June 30, 2018, the Company recognized approximately $454,000 and $805,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2014 through 2017. During the three and six months ended June 30, 2017, the Company recognized approximately $410,000 and $779,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2013 through 2016. The following table summarizes the Company’s stock option activity for the six-month period ended June 30, 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 (352,566 ) $ 25.82 Forfeited or expired (11,075 ) $ 26.57 Outstanding at June 30, 2018 1,138,852 $ 26.80 4.0 $ 10,936,000 Exercisable at June 30, 2018 524,690 $ 27.10 2.3 $ 4,878,000 * 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 29, 2018, the last trading day of the quarter, of $36.40 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. The following table summarizes the Company’s stock option exercise activity for the three and six months ended June 30, 2018 and 2017: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 2,549 $ 23 $ 3,050 $ 64 Net cash proceeds from stock option exercises $ 1,164 $ 82 $ 4,048 $ 438 Income tax benefit from the exercise of stock options $ 663 $ 10 $ 793 $ 25 The following table summarizes the Company’s restricted stock award activity for the six-month period ended June 30, 2018: 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 2,439 $ 35.55 Vested (2,439 ) $ 35.55 Forfeited (1,675 ) 26.59 Non-vested at June 30, 2018 64,375 $ 26.80 2.3 $ 2,343,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 29, 2018 of $36.40 multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	6 Months Ended
	Jun. 30, 2018
Short-term Debt [Abstract]
Short-term Debt [Text Block]	11. Short-Term Borrowings At June 30, 2018, the Company had a $60 million unsecured revolving line of credit with a bank expiring November 4, 2018. The line of credit bears interest at the London Interbank Offered Rate (“LIBOR”) plus 0.75%. At June 30, 2018, there were no amounts outstanding on the line of credit. There were also no amounts outstanding on the line of credit to date in 2018.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2018
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	12. Financial Instruments At June 30, 2018, the Company’s majority-owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $2.5 million U.S. dollars at a price of approximately $3.1 million Australian dollars. Based on quarter-end exchange rates, there were no significant unrealized gains or losses on the outstanding contracts. The Company determines the fair value of foreign exchange contracts based on the difference between the foreign currency contract rates and the widely available foreign currency rates as of the measurement date. The fair value measurements are based on observable market transactions, and thus represent a level 2 valuation as defined by ASC 820.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	13. Comprehensive Income Comprehensive income for the three and six months ended June 30, 2018 and 2017, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Net earnings $ 1,523 $ 1,303 $ 4,339 $ 3,418 Foreign currency translation adjustments (991 ) 533 (1,110 ) 1,220 Pension liability, net of tax of $42, $56, $83, and $102, respectively 118 88 236 161 Total comprehensive income $ 650 $ 1,924 $ 3,465 $ 4,799 The components of accumulated other comprehensive loss as recorded on the Consolidated Condensed Balance Sheets (Unaudited) were as follows: June 30, December 31, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (4,982 ) $ (4,186 ) Pension liability, net of tax (13,437 ) (13,673 ) Total accumulated other comprehensive loss $ (18,419 ) $ (17,859 ) The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the six months ended June 30, 2018: Foreign ‎ Currency ‎ Translation ‎ Adjustments Defined ‎ Benefit ‎ Pension ‎ Items Total Beginning balance, December 31, 2017 $ (4,186 ) $ (13,673 ) $ (17,859 ) Other comprehensive loss before reclassifications (796 ) - (796 ) Amounts reclassified from accumulated other comprehensive loss - 236 236 Net current period other comprehensive (loss) income (796 ) 236 (560 ) Ending balance, June 30, 2018 $ (4,982 ) $ (13,437 ) $ (18,419 ) The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the six months ended June 30, 2018: Amounts reclassified ‎ from accumulated other ‎ comprehensive loss for ‎ the six months ended ‎ June 30, 2018 Affected line item in the ‎ statement where net ‎ income is presented Amortization of defined benefit pension items Prior service cost $ (31 ) (1) Other expense, net Actuarial losses 350 (1) Other expense, net Total before tax 319 Tax benefit (83 ) Net of tax $ 236 (1) These amounts were included in net periodic pension cost. See Note 9 for additional details.

Equity

Equity	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	14. Equity The following table reconciles the Company’s equity for the six months ended June 30, 2018: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859 ) $ 7,122 Net earnings - - 4,613 (274 ) Foreign currency translation adjustments - - - (796 ) (314 ) Pension liability adjustment, net of tax - - - 236 - Cash dividends declared - - (4,652 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 197 3,239 - - - Issuance of restricted stock 2 (2 ) - - - Restricted stock forfeited (2 ) 2 - - - Stock-based compensation expense - 805 - - - Shares purchased and retired (199 ) - (6,390 ) - - Balance, June 30, 2018 $ 10,160 $ 59,928 $ 143,921 $ (18,419 ) $ 6,446

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	15. Subsequent Event On July 31, 2018, David Venner, Director of Seraneuse Pty Ltd (“Seraneuse”), the minority interest shareholder of Florsheim Australia Pty Ltd, provided notice that Seraneuse will tender its shares, representing 45% equity in Florsheim Australia, to the Company, in accordance with the Shareholders Agreement dated January 23, 2009. Accordingly, the Company will purchase the minority interest of Florsheim Australia for $3.8 million on August 30, 2018. The Shareholders Agreement referenced above was filed as Exhibit 10.2 to Form 10-K for the Year Ended December 31, 2008.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 1,626 $ 1,257 $ 4,613 $ 3,474 Denominator: Basic weighted average shares outstanding 10,214 10,305 10,194 10,370 Effect of dilutive securities: Employee stock-based awards 291 63 239 63 Diluted weighted average shares outstanding 10,505 10,368 10,433 10,433 Basic earnings per share $ 0.16 $ 0.12 $ 0.45 $ 0.34 Diluted earnings per share $ 0.15 $ 0.12 $ 0.44 $ 0.33

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Investments [Abstract]
Debt Securities, Held-to-maturity [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, 2018, and December 31, 2017. June 30, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 8,781 $ 8,783 $ 5,970 $ 5,977 Due from one through five years 9,550 9,719 10,260 10,536 Due from six through ten years 5,261 5,332 5,005 5,197 Due from eleven through twenty years 2,610 2,675 2,404 2,539 Total $ 26,202 $ 26,509 $ 23,639 $ 24,249
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at June 30, 2018, and at December 31, 2017, were as follows: June 30, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 394 $ (87 ) $ 634 $ (24 )

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
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, 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 The Company’s amortizable intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: June 30, 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 $ (1,711 ) $ 1,789 $ 3,500 $ (1,594 ) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,711 ) $ 1,789 $ 3,500 $ (1,594 ) $ 1,906

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
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, 2018 and 2017, was as follows: Three Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 45,167 $ 4,624 $ 10,625 $ 60,416 Licensing revenues 472 - - 472 Net sales $ 45,639 $ 4,624 $ 10,625 $ 60,888 Earnings from operations $ 1,748 $ 222 $ (23 ) $ 1,947 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 Six Months Ended June 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 98,161 $ 9,551 $ 21,436 $ 129,148 Licensing revenues 1,266 - - 1,266 Net sales $ 99,427 $ 9,551 $ 21,436 $ 130,414 Earnings from operations $ 5,139 $ 428 $ (53 ) $ 5,514 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

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Service cost $ 151 $ 142 $ 301 $ 282 Interest cost 549 555 1,098 1,103 Expected return on plan assets (646 ) (609 ) (1,292 ) (1,151 ) Net amortization and deferral 159 143 319 263 Net periodic pension cost $ 213 $ 231 $ 426 $ 497

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes the Company’s stock option activity for the six-month period ended June 30, 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 (352,566 ) $ 25.82 Forfeited or expired (11,075 ) $ 26.57 Outstanding at June 30, 2018 1,138,852 $ 26.80 4.0 $ 10,936,000 Exercisable at June 30, 2018 524,690 $ 27.10 2.3 $ 4,878,000 * 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 29, 2018, the last trading day of the quarter, of $36.40 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.
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, 2018 and 2017: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 2,549 $ 23 $ 3,050 $ 64 Net cash proceeds from stock option exercises $ 1,164 $ 82 $ 4,048 $ 438 Income tax benefit from the exercise of stock options $ 663 $ 10 $ 793 $ 25
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	The following table summarizes the Company’s restricted stock award activity for the six-month period ended June 30, 2018: 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 2,439 $ 35.55 Vested (2,439 ) $ 35.55 Forfeited (1,675 ) 26.59 Non-vested at June 30, 2018 64,375 $ 26.80 2.3 $ 2,343,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 29, 2018 of $36.40 multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three and six months ended June 30, 2018 and 2017, was as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Dollars in thousands) Net earnings $ 1,523 $ 1,303 $ 4,339 $ 3,418 Foreign currency translation adjustments (991 ) 533 (1,110 ) 1,220 Pension liability, net of tax of $42, $56, $83, and $102, respectively 118 88 236 161 Total comprehensive income $ 650 $ 1,924 $ 3,465 $ 4,799
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, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (4,982 ) $ (4,186 ) Pension liability, net of tax (13,437 ) (13,673 ) Total accumulated other comprehensive loss $ (18,419 ) $ (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 six months ended June 30, 2018: Foreign ‎ Currency ‎ Translation ‎ Adjustments Defined ‎ Benefit ‎ Pension ‎ Items Total Beginning balance, December 31, 2017 $ (4,186 ) $ (13,673 ) $ (17,859 ) Other comprehensive loss before reclassifications (796 ) - (796 ) Amounts reclassified from accumulated other comprehensive loss - 236 236 Net current period other comprehensive (loss) income (796 ) 236 (560 ) Ending balance, June 30, 2018 $ (4,982 ) $ (13,437 ) $ (18,419 )
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 six months ended June 30, 2018: Amounts reclassified ‎ from accumulated other ‎ comprehensive loss for ‎ the six months ended ‎ June 30, 2018 Affected line item in the ‎ statement where net ‎ income is presented Amortization of defined benefit pension items Prior service cost $ (31 ) (1) Other expense, net Actuarial losses 350 (1) Other expense, net Total before tax 319 Tax benefit (83 ) Net of tax $ 236 (1) These amounts were included in net periodic pension cost. See Note 9 for additional details.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following table reconciles the Company’s equity for the six months ended June 30, 2018: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859 ) $ 7,122 Net earnings - - 4,613 (274 ) Foreign currency translation adjustments - - - (796 ) (314 ) Pension liability adjustment, net of tax - - - 236 - Cash dividends declared - - (4,652 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price 197 3,239 - - - Issuance of restricted stock 2 (2 ) - - - Restricted stock forfeited (2 ) 2 - - - Stock-based compensation expense - 805 - - - Shares purchased and retired (199 ) - (6,390 ) - - Balance, June 30, 2018 $ 10,160 $ 59,928 $ 143,921 $ (18,419 ) $ 6,446

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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 1,626	$ 1,257	$ 4,613	$ 3,474
Denominator:
Basic weighted average shares outstanding	10,214	10,305	10,194	10,370
Effect of dilutive securities:
Employee stock-based awards	291	63	239	63
Diluted weighted average shares outstanding	10,505	10,368	10,433	10,433
Basic earnings per share	$ 0.16	$ 0.12	$ 0.45	$ 0.34
Diluted earnings per share	$ 0.15	$ 0.12	$ 0.44	$ 0.33

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	837,000	207,000	706,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.85	$ 27.94	$ 27.15

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 8,781	$ 5,970
Held-to-maturity Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	8,781	5,970
Amortized Cost, Due from one through five years	9,550	10,260
Amortized Cost, Due from six through ten years	5,261	5,005
Amortized Cost, Due from eleven through twenty years	2,610	2,404
Amortized Cost, Total	26,202	23,639
Market Value, Current	8,783	5,977
Market Value, Due from one through five years	9,719	10,536
Market Value, Due from six through ten years	5,332	5,197
Market Value, Due from eleven through twenty years	2,675	2,539
Market Value, Total	$ 26,509	$ 24,249

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - Held-to-maturity Securities [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Unrealized Gains	$ 394	$ 634
Unrealized Losses	$ (87)	$ (24)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 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	(1,711)	(1,594)
Net	1,789	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	(1,711)	(1,594)
Net	$ 1,789	$ 1,906

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 117,000	$ 117,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 60,888	$ 57,453	$ 130,414	$ 126,573
Earnings (loss) from operations	1,947	1,890	5,514	5,349
Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	60,416	56,862	129,148	125,281
Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	472	591	1,266	1,292
Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	45,639	42,291	99,427	95,141
Earnings (loss) from operations	1,748	1,298	5,139	4,464
Wholesale [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	45,167	41,700	98,161	93,849
Wholesale [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	472	591	1,266	1,292
Retail [Member]
Segment Reporting Information [Line Items]
Net sales	4,624	4,758	9,551	9,688
Earnings (loss) from operations	222	184	428	227
Retail [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	4,624	4,758	9,551	9,688
Retail [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other [Member]
Segment Reporting Information [Line Items]
Net sales	10,625	10,404	21,436	21,744
Earnings (loss) from operations	(23)	408	(53)	658
Other [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	10,625	10,404	21,436	21,744
Other [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 151	$ 142	$ 301	$ 282
Interest cost	549	555	1,098	1,103
Expected return on plan assets	(646)	(609)	(1,292)	(1,151)
Net amortization and deferral	159	143	319	263
Net periodic pension cost	$ 213	$ 231	$ 426	$ 497

Stock-Based Compensation Plan36

Stock-Based Compensation Plans (Details) - Employee Stock Option [Member]	6 Months Ended
	Jun. 30, 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	(352,566)
Shares, Forfeited or expired | shares	(11,075)
Shares, Outstanding at end of year | shares	1,138,852
Shares, Exercisable at end of year | shares	524,690
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	25.82
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	26.57
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	26.80
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 27.10
Weighted Average Remaining Contractual Life (Years), Outstanding - March 30, 2018	4 years
Weighted Average Remaining Contractual Life (Years), Exercisable - March 30, 2018	2 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding at June 30, 2018 | $	$ 10,936,000	[1]
Aggregate Intrinsic Value, Exercisable at June 30, 2018 | $	$ 4,878,000	[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 June 29, 2018, the last trading day of the quarter, of $36.40 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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 2,549	$ 23	$ 3,050	$ 64
Net cash proceeds from stock option exercises	1,164	82	4,048	438
Income tax benefit from the exercise of stock options	$ 663	$ 10	$ 793	$ 25

Stock-Based Compensation Plan38

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 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	2,439
Shares of Restricted Stock, Vested | shares	(2,439)
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	35.55
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	35.55
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	$ 26.80
Weighted Average Remaining Contractual Term (Years), Non-vested at March 30, 2018	2 years 3 months 18 days
Aggregate Intrinsic Value (in dollars), Non-vested at June 30, 2018 | $	$ 2,343,000	[1]
[1]	The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on June 29, 2018 of $36.40 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan39

Stock-Based Compensation Plans (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 29, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 454,000	$ 410,000	$ 805,000	$ 779,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 36.40
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share	$ 36.40

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 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) - Jun. 30, 2018 $ in Millions, $ in Millions	USD ($)	AUD ($)
Foreign Exchange Contracts, Australian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 2.5	$ 3.1

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net earnings	$ 1,523	$ 1,303	$ 4,339	$ 3,418
Foreign currency translation adjustments	(991)	533	(1,110)	1,220
Pension liability, net of tax of $42, $56, $83, and $102, respectively	118	88	236	161
Total comprehensive income	$ 650	$ 1,924	$ 3,465	$ 4,799

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Foreign currency translation adjustments	$ (4,982)	$ (4,186)
Pension liability, net of tax	(13,437)	(13,673)
Total accumulated other comprehensive loss	$ (18,419)	$ (17,859)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 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			(796)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income			(796)
Foreign Currency Translation Adjustments, Ending balance	$ (4,982)		(4,982)
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	$ 88	236	$ 161
Defined Benefit Pension Items, Net current period other comprehensive (loss) income			236
Defined Benefit Pension Items, Ending balance	(13,437)		(13,437)
Beginning balance			(17,859)
Other comprehensive loss before reclassifications			(796)
Amounts reclassified from accumulated other comprehensive loss			236
Net current period other comprehensive (loss) income			(560)
Ending balance	$ (18,419)		$ (18,419)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amortization of defined benefit pension items
Prior service cost	[1]			$ (31)
Actuarial losses	[1]			350
Total before tax				319
Tax benefit				(83)
Net of tax		$ 118	$ 88	$ 236	$ 161
[1]	These amounts were included in net periodic pension cost. See Note 9 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 42	$ 56	$ 83	$ 102

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			$ 205,659
Net earnings	$ 1,523	$ 1,303	4,339	$ 3,418
Foreign currency translation adjustments	(991)	$ 533	(1,110)	$ 1,220
Pension liability adjustment, net of tax			(236)
Balance, June 30, 2018	202,036		202,036
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
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price			197
Issuance of restricted stock			2
Restricted stock forfeited			(2)
Stock-based compensation expense			0
Shares purchased and retired			(199)
Balance, June 30, 2018	10,160		10,160
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
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price			3,239
Issuance of restricted stock			(2)
Restricted stock forfeited			2
Stock-based compensation expense			805
Shares purchased and retired			0
Balance, June 30, 2018	59,928		59,928
Reinvested Earnings [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			150,350
Net earnings			4,613
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			(4,652)
Cash dividends paid to noncontrolling interest			0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			(6,390)
Balance, June 30, 2018	143,921		143,921
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			(17,859)
Foreign currency translation adjustments			(796)
Pension liability adjustment, net of tax			236
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, June 30, 2018	(18,419)		(18,419)
Noncontrolling Interest [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			7,122
Net earnings			(274)
Foreign currency translation adjustments			(314)
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			(88)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, June 30, 2018	$ 6,446		$ 6,446

Subsequent Event (Details Textu

Subsequent Event (Details Textual) - Florsheim Australia Pty Ltd [Member] - USD ($) $ in Millions	Aug. 30, 2018	Jul. 31, 2018
Scenario, Forecast [Member]
Expected Investments to be Made in Minority Interests	$ 3.8
Subsequent Event [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		45.00%