Weyco (WEYS) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 31, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
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		10,135,680
Entity Emerging Growth Company	false
Entity Small Business	true

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 15,750	$ 23,453
Marketable securities, at amortized cost	5,098	5,970
Accounts receivable, net	56,797	49,451
Income tax receivable	533	669
Inventories	60,069	60,270
Prepaid expenses and other current assets	3,085	5,770
Total current assets	141,332	145,583
Marketable securities, at amortized cost	18,895	17,669
Deferred income tax benefits	786	750
Property, plant and equipment, net	29,393	31,643
Goodwill	11,112	11,112
Trademarks	32,978	32,978
Other assets	23,192	23,097
Total assets	257,688	262,832
LIABILITIES AND EQUITY:
Short-term borrowings	8,048	0
Accounts payable	5,956	8,905
Dividend payable	0	2,228
Accrued liabilities	11,465	14,031
Total current liabilities	25,469	25,164
Deferred income tax liabilities	3,587	2,069
Long-term pension liability	24,422	27,766
Other long-term liabilities	1,634	2,174
Total liabilities	55,112	57,173
Common stock	10,202	10,162
Capital in excess of par value	63,938	55,884
Reinvested earnings	147,874	150,350
Accumulated other comprehensive loss	(19,438)	(17,859)
Total Weyco Group, Inc. equity	202,576	198,537
Noncontrolling interest	0	7,122
Total equity	202,576	205,659
Total liabilities and equity	$ 257,688	$ 262,832

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net sales	$ 78,375	$ 76,906	$ 208,789	$ 203,479
Cost of sales	47,984	47,438	128,067	126,693
Gross earnings	30,391	29,468	80,722	76,786
Selling and administrative expenses	22,344	21,666	67,161	63,635
Earnings from operations	8,047	7,802	13,561	13,151
Interest income	252	193	739	572
Interest expense	(10)	0	(10)	(7)
Other expense, net	(195)	(53)	(414)	(243)
Earnings before provision for income taxes	8,094	7,942	13,876	13,473
Provision for income taxes	1,942	3,022	3,385	5,135
Net earnings	6,152	4,920	10,491	8,338
Net loss attributable to noncontrolling interest	(124)	(14)	(398)	(70)
Net earnings attributable to Weyco Group, Inc.	$ 6,276	$ 4,934	$ 10,889	$ 8,408
Weighted average shares outstanding
Basic	10,114	10,160	10,167	10,299
Diluted	10,391	10,218	10,419	10,360
Earnings per share
Basic	$ 0.62	$ 0.49	$ 1.07	$ 0.82
Diluted	0.60	0.48	1.05	0.81
Cash dividends declared (per share)	$ 0.23	$ 0.22	$ 0.68	$ 0.65
Comprehensive income	$ 6,086	$ 5,452	$ 9,551	$ 10,251
Comprehensive (loss) income attributable to noncontrolling interest	(282)	25	(870)	271
Comprehensive income attributable to Weyco Group, Inc.	$ 6,368	$ 5,427	$ 10,421	$ 9,980

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 10,491	$ 8,338
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	2,842	2,971
Amortization	238	265
Bad debt expense	190	350
Deferred income taxes	1,353	2,192
Net foreign currency transaction losses (gains)	332	(61)
Stock-based compensation	1,149	1,174
Pension contribution	(3,000)	(4,000)
Pension expense	522	746
Increase in cash surrender value of life insurance	(250)	(250)
Changes in operating assets and liabilities -
Accounts receivable	(7,557)	(5,703)
Inventories	180	12,195
Prepaid expenses and other assets	2,756	3,167
Accounts payable	(2,928)	(6,838)
Accrued liabilities and other	(4,749)	1,849
Accrued income taxes	278	22
Net cash provided by operating activities	1,847	16,417
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	(7,819)	(14,719)
Proceeds from maturities of marketable securities	7,450	10,710
Life insurance premiums paid	(155)	(155)
Purchases of property, plant and equipment	(876)	(1,406)
Net cash used for investing activities	(1,400)	(5,570)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(9,213)	(8,877)
Cash dividends paid to noncontrolling interest of subsidiary	(88)	(204)
Payment to acquire noncontrolling interest of subsidiary	(3,740)	0
Shares purchased and retired	(6,589)	(11,621)
Proceeds from stock options exercised	4,308	2,013
Taxes paid related to the net share settlement of equity awards	(699)	(51)
Proceeds from bank borrowings	20,309	20,651
Repayments of bank borrowings	(12,261)	(20,147)
Net cash used for financing activities	(7,973)	(18,236)
Effect of exchange rate changes on cash and cash equivalents	(177)	383
Net decrease in cash and cash equivalents	(7,703)	(7,006)
CASH AND CASH EQUIVALENTS at beginning of period	23,453	13,710
CASH AND CASH EQUIVALENTS at end of period	15,750	6,704
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	1,915	2,829
Interest paid	$ 10	$ 7

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2018, may not necessarily be indicative of the results for the full year.

Acquisition of Noncontrolling I

Acquisition of Noncontrolling Interest	9 Months Ended
	Sep. 30, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interest Disclosure [Text Block]	2. Acquisition of Noncontrolling Interest During the third quarter of 2018, David Venner, Director of Seraneuse Pty Ltd, the minority interest shareholder of Florsheim Australia Pty Ltd (“Florsheim Australia”), provided notice and tendered to the Company his shares, which represented a 45% $3.7 . This transaction was accounted for in accordance with Accounting Standards Codification (ASC) 810, Consolidation , as an equity transaction. Therefore, no gain or loss was recognized in consolidated net income or comprehensive income. The carrying amount of the noncontrolling interest was adjusted to zero, and the difference between the fair value of the consideration paid and the balance of the noncontrolling interest as of the acquisition date was recognized within equity.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	3. New Accounting Pronouncements Recently Adopted On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, Revenue - Revenue from Contracts with Customers and all related amendments, which were together codified into ASC 606. This guidance was adopted using the modified retrospective method. The adoption of ASC 606 did not have a material impact on the Company’s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of retained earnings to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance will have a material effect on the results of operations in future periods. See Note 4. Not Yet Adopted In February 2016, the Financial Accounting Standards Board issued ASU 2016-02, Leases

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue from Contract with Customer [Text Block]	4. 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	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications [Text Block]	5. 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	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	6. 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, 2018 2017 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 6,276 $ 4,934 $ 10,889 $ 8,408 Denominator: Basic weighted average shares outstanding 10,114 10,160 10,167 10,299 Effect of dilutive securities: Employee stock-based awards 277 58 252 61 Diluted weighted average shares outstanding 10,391 10,218 10,419 10,360 Basic earnings per share $ 0.62 $ 0.49 $ 1.07 $ 0.82 Diluted earnings per share $ 0.60 $ 0.48 $ 1.05 $ 0.81 Diluted weighted average shares outstanding for the three months ended September 30, 2018, exclude anti-dilutive stock-based awards totaling 151,080 shares of common stock at a weighted average price of $31.58. Diluted weighted average shares outstanding for the nine months ended September 30, 2018, exclude anti-dilutive stock-based awards totaling 178,683 shares of common stock at a weighted average price of $29.78. Diluted weighted average shares outstanding for the three months ended September 30, 2017, exclude anti-dilutive stock-based awards totaling 1,116,325 shares of common stock at a weighted average price of $26.49. Diluted weighted average shares outstanding for the nine months ended September 30, 2017, exclude anti-dilutive stock-based awards totaling 844,036 shares of common stock at a weighted average price of $26.93.

Investments

Investments	9 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	7. 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 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 September 30, 2018, and December 31, 2017. September 30, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 5,098 $ 5,104 $ 5,970 $ 5,977 Due from one through five years 9,916 10,017 10,260 10,536 Due from six through ten years 5,579 5,608 5,005 5,197 Due from eleven through twenty years 3,400 3,408 2,404 2,539 Total $ 23,993 $ 24,137 $ 23,639 $ 24,249 The unrealized gains and losses on marketable securities at September 30, 2018, and at December 31, 2017, were as follows: September 30, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 283 $ (139 ) $ 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	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	8. Intangible Assets The Company’s indefinite-lived intangible assets as recorded in the Consolidated Condensed Balance Sheets (Unaudited) consisted of the following: September 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: September 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 $ (1,769 ) $ 1,731 $ 3,500 $ (1,594 ) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,769 ) $ 1,731 $ 3,500 $ (1,594 ) $ 1,906 Amortization expense related to the intangible assets was approximately $58,000 in both the third quarters of 2018 and 2017. For the nine months ended September 30, amortization expense related to the intangible assets was approximately $175,000 in both 2018 and 2017. The amortizable intangible assets are included within other assets in the Consolidated Condensed Balance Sheets (Unaudited).

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	9. Segment Information The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the tables below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. Summarized segment data for the three and nine months ended September 30, 2018 and 2017, was as follows: Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 62,652 $ 4,942 $ 10,249 $ 77,843 Licensing revenues 532 - - 532 Net sales $ 63,184 $ 4,942 $ 10,249 $ 78,375 Earnings from operations $ 7,611 $ 428 $ 8 $ 8,047 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 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 160,814 $ 14,493 $ 31,685 $ 206,992 Licensing revenues 1,797 - - 1,797 Net sales $ 162,611 $ 14,493 $ 31,685 $ 208,789 Earnings (loss) from operations $ 12,750 $ 856 $ (45 ) $ 13,561 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

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	10. Employee Retirement Plans The components of the Company’s net periodic pension cost were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Service cost $ 126 $ 141 $ 427 $ 423 Interest cost 554 552 1,652 1,655 Expected return on plan assets (741 ) (576 ) (2,033 ) (1,727 ) Net amortization and deferral 157 132 476 395 Net periodic pension cost $ 96 $ 249 $ 522 $ 746 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	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	11. Stock-Based Compensation Plans During the three and nine months ended September 30, 2018, the Company recognized $344,000 and $1,149,000 respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2014 through 2018. During the three and nine months ended September 30, 2017, the Company recognized $395,000 and $1,174,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2013 through 2017. The following table summarizes the Company’s stock option activity for the nine-month period ended September 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 Granted 129,200 $ 37.22 Exercised (412,014 ) $ 25.94 Forfeited or expired (27,576 ) $ 26.36 Outstanding at September 30, 2018 1,192,103 $ 27.93 4.4 $ 8,903,000 Exercisable at September 30, 2018 709,040 $ 26.89 2.6 $ 5,880,000 * of $35.18 . The following table summarizes the Company’s stock option exercise activity for the three and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 654 $ 208 $ 3,704 $ 272 Net cash proceeds from stock option exercises $ 260 $ 1,575 $ 4,308 $ 2,013 Income tax benefit from the exercise of stock options $ 170 $ 81 $ 963 $ 106 The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 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 25,319 37.06 Vested (25,514 ) 37.59 Forfeited (4,375 ) 26.60 Non-vested at September 30, 2018 61,480 $ 30.74 2.9 $ 2,163,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 28, 2018, the last trading day of the quarter, of $35.18 multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	9 Months Ended
	Sep. 30, 2018
Short-term Debt [Abstract]
Short-term Debt [Text Block]	12. Short-Term Borrowings At September 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 daily London Interbank Offered Rate (“LIBOR”) plus 0.75%. At September 30, 2018, outstanding borrowings were approximately $8.0 million at an interest rate of 3.0%. The highest balance on the line of credit during the third quarter of 2018 was approximately $8.0 million. Subsequent to September 30, 2018, the line of credit agreement was renewed on the same terms for another one-year period, expiring November 5, 2019 .

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2018
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	13. Financial Instruments At September 30, 2018, the Company’s wholly-owned subsidiary, Florsheim Australia, had foreign exchange contracts outstanding to buy $800,000 U.S. dollars at a price of approximately $1.0 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	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	14. Comprehensive Income Comprehensive income for the three and nine months ended September 30, 2018 and 2017, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Net earnings $ 6,152 $ 4,920 $ 10,491 $ 8,338 Foreign currency translation adjustments (182 ) 452 (1,292 ) 1,672 Pension liability, net of tax of $41, $52, $124 and $154, respectively 116 80 352 241 Total comprehensive income $ 6,086 $ 5,452 $ 9,551 $ 10,251 The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: September 30, December 31, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (6,117 ) $ (4,186 ) Pension liability, net of tax (13,321 ) (13,673 ) Total accumulated other comprehensive loss $ (19,438 ) $ (17,859 ) The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the nine months ended September 30, 2018: Foreign Defined Total Beginning balance, December 31, 2017 $ (4,186 ) $ (13,673 ) $ (17,859 ) Other comprehensive loss before reclassifications (820 ) - (820 ) Amounts reclassified from accumulated other comprehensive loss - 352 352 Amounts reclassified from noncontrolling interest (1,111 ) - (1,111 ) Net current period other comprehensive (loss) income (1,931 ) 352 (1,579 ) Ending balance, September 30, 2018 $ (6,117 ) $ (13,321 ) $ (19,438 ) The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the nine months ended September 30, 2018: Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (47 ) (1) Other expense, net Actuarial losses 523 (1) Other expense, net Total before tax 476 Tax benefit (124 ) Net of tax $ 352 (1) These amounts were included in the net periodic pension cost. See Note 10 for additional details.

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	15. Equity A reconciliation of the Company’s equity for the nine months ended September 30, 2018, is as follows: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859 ) $ 7,122 Net earnings - - 10,889 - (398 ) Foreign currency translation adjustments - - - (820 ) (472 ) Pension liability adjustment, net of tax - - - 352 - Cash dividends declared - - (6,975 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Purchase of noncontrolling interest - 3,535 - (1,111 ) (6,164 ) Stock options exercised 218 3,391 - - - Issuance of restricted stock 25 (25 ) - - - Restricted stock forfeited (4 ) 4 - - - Stock-based compensation expense - 1,149 - - - Shares purchased and retired (199 ) - (6,390 ) - - Balance, September 30, 2018 $ 10,202 $ 63,938 $ 147,874 $ (19,438 ) $ -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 6,276 $ 4,934 $ 10,889 $ 8,408 Denominator: Basic weighted average shares outstanding 10,114 10,160 10,167 10,299 Effect of dilutive securities: Employee stock-based awards 277 58 252 61 Diluted weighted average shares outstanding 10,391 10,218 10,419 10,360 Basic earnings per share $ 0.62 $ 0.49 $ 1.07 $ 0.82 Diluted earnings per share $ 0.60 $ 0.48 $ 1.05 $ 0.81

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 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 September 30, 2018, and December 31, 2017. September 30, 2018 December 31, 2017 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 5,098 $ 5,104 $ 5,970 $ 5,977 Due from one through five years 9,916 10,017 10,260 10,536 Due from six through ten years 5,579 5,608 5,005 5,197 Due from eleven through twenty years 3,400 3,408 2,404 2,539 Total $ 23,993 $ 24,137 $ 23,639 $ 24,249
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at September 30, 2018, and at December 31, 2017, were as follows: September 30, 2018 December 31, 2017 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 283 $ (139 ) $ 634 $ (24 )

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 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: September 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: September 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 $ (1,769 ) $ 1,731 $ 3,500 $ (1,594 ) $ 1,906 Total amortizable intangible assets $ 3,500 $ (1,769 ) $ 1,731 $ 3,500 $ (1,594 ) $ 1,906

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Summarized segment data for the three and nine months ended September 30, 2018 and 2017, was as follows: Three Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 62,652 $ 4,942 $ 10,249 $ 77,843 Licensing revenues 532 - - 532 Net sales $ 63,184 $ 4,942 $ 10,249 $ 78,375 Earnings from operations $ 7,611 $ 428 $ 8 $ 8,047 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 Nine Months Ended September 30, Wholesale Retail Other Total (Dollars in thousands) 2018 Product sales $ 160,814 $ 14,493 $ 31,685 $ 206,992 Licensing revenues 1,797 - - 1,797 Net sales $ 162,611 $ 14,493 $ 31,685 $ 208,789 Earnings (loss) from operations $ 12,750 $ 856 $ (45 ) $ 13,561 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

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Service cost $ 126 $ 141 $ 427 $ 423 Interest cost 554 552 1,652 1,655 Expected return on plan assets (741 ) (576 ) (2,033 ) (1,727 ) Net amortization and deferral 157 132 476 395 Net periodic pension cost $ 96 $ 249 $ 522 $ 746

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 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 nine-month period ended September 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 Granted 129,200 $ 37.22 Exercised (412,014 ) $ 25.94 Forfeited or expired (27,576 ) $ 26.36 Outstanding at September 30, 2018 1,192,103 $ 27.93 4.4 $ 8,903,000 Exercisable at September 30, 2018 709,040 $ 26.89 2.6 $ 5,880,000 * of $35.18 .
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, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Total intrinsic value of stock options exercised $ 654 $ 208 $ 3,704 $ 272 Net cash proceeds from stock option exercises $ 260 $ 1,575 $ 4,308 $ 2,013 Income tax benefit from the exercise of stock options $ 170 $ 81 $ 963 $ 106
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, 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 25,319 37.06 Vested (25,514 ) 37.59 Forfeited (4,375 ) 26.60 Non-vested at September 30, 2018 61,480 $ 30.74 2.9 $ 2,163,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 28, 2018, the last trading day of the quarter, of $35.18 multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three and nine months ended September 30, 2018 and 2017, was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Net earnings $ 6,152 $ 4,920 $ 10,491 $ 8,338 Foreign currency translation adjustments (182 ) 452 (1,292 ) 1,672 Pension liability, net of tax of $41, $52, $124 and $154, respectively 116 80 352 241 Total comprehensive income $ 6,086 $ 5,452 $ 9,551 $ 10,251
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, 2018 2017 (Dollars in thousands) Foreign currency translation adjustments $ (6,117 ) $ (4,186 ) Pension liability, net of tax (13,321 ) (13,673 ) Total accumulated other comprehensive loss $ (19,438 ) $ (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 nine months ended September 30, 2018: Foreign Defined Total Beginning balance, December 31, 2017 $ (4,186 ) $ (13,673 ) $ (17,859 ) Other comprehensive loss before reclassifications (820 ) - (820 ) Amounts reclassified from accumulated other comprehensive loss - 352 352 Amounts reclassified from noncontrolling interest (1,111 ) - (1,111 ) Net current period other comprehensive (loss) income (1,931 ) 352 (1,579 ) Ending balance, September 30, 2018 $ (6,117 ) $ (13,321 ) $ (19,438 )
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, 2018: Amounts reclassified Affected line item in the Amortization of defined benefit pension items Prior service cost $ (47 ) (1) Other expense, net Actuarial losses 523 (1) Other expense, net Total before tax 476 Tax benefit (124 ) Net of tax $ 352 (1) These amounts were included in the net periodic pension cost. See Note 10 for additional details.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	A reconciliation of the Company’s equity for the nine months ended September 30, 2018, is as follows: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Noncontrolling Stock Par Value Earnings Loss Interest (Dollars in thousands) Balance, December 31, 2017 $ 10,162 $ 55,884 $ 150,350 $ (17,859 ) $ 7,122 Net earnings - - 10,889 - (398 ) Foreign currency translation adjustments - - - (820 ) (472 ) Pension liability adjustment, net of tax - - - 352 - Cash dividends declared - - (6,975 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Purchase of noncontrolling interest - 3,535 - (1,111 ) (6,164 ) Stock options exercised 218 3,391 - - - Issuance of restricted stock 25 (25 ) - - - Restricted stock forfeited (4 ) 4 - - - Stock-based compensation expense - 1,149 - - - Shares purchased and retired (199 ) - (6,390 ) - - Balance, September 30, 2018 $ 10,202 $ 63,938 $ 147,874 $ (19,438 ) $ -

Acquisition of Noncontrolling_2

Acquisition of Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Aug. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Payments to Noncontrolling Interests	$ 3,700	$ 3,740	$ 0
Stockholders' Equity Attributable to Noncontrolling Interest		$ 0		$ 7,122
Florsheim Australia Pty Ltd [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	100.00%	45.00%

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 6,276	$ 4,934	$ 10,889	$ 8,408
Denominator:
Basic weighted average shares outstanding	10,114	10,160	10,167	10,299
Effect of dilutive securities:
Employee stock-based awards	277	58	252	61
Diluted weighted average shares outstanding	10,391	10,218	10,419	10,360
Basic earnings per share	$ 0.62	$ 0.49	$ 1.07	$ 0.82
Diluted earnings per share	$ 0.60	$ 0.48	$ 1.05	$ 0.81

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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)	151,080	1,116,325	178,683	844,036
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 31.58	$ 26.49	$ 29.78	$ 26.93

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 5,098	$ 5,970
Held-to-maturity Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	5,098	5,970
Amortized Cost, Due from one through five years	9,916	10,260
Amortized Cost, Due from six through ten years	5,579	5,005
Amortized Cost, Due from eleven through twenty years	3,400	2,404
Amortized Cost, Total	23,993	23,639
Market Value, Current	5,104	5,977
Market Value, Due from one through five years	10,017	10,536
Market Value, Due from six through ten years	5,608	5,197
Market Value, Due from eleven through twenty years	3,408	2,539
Market Value, Total	$ 24,137	$ 24,249

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - Held-to-maturity Securities [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Unrealized Gains	$ 283	$ 634
Unrealized Losses	$ (139)	$ (24)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 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	(1,769)	(1,594)
Net	1,731	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	(1,769)	(1,594)
Net	$ 1,731	$ 1,906

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 58,000	$ 58,000	$ 175,000	$ 175,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 78,375	$ 76,906	$ 208,789	$ 203,479
Earnings (loss) from operations	8,047	7,802	13,561	13,151
Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	77,843	76,378	206,992	201,659
Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	532	528	1,797	1,820
Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	63,184	60,728	162,611	155,869
Earnings (loss) from operations	7,611	7,416	12,750	11,880
Wholesale [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	62,652	60,200	160,814	154,049
Wholesale [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	532	528	1,797	1,820
Retail [Member]
Segment Reporting Information [Line Items]
Net sales	4,942	4,291	14,493	13,979
Earnings (loss) from operations	428	17	856	244
Retail [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	4,942	4,291	14,493	13,979
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	10,249	11,887	31,685	33,631
Earnings (loss) from operations	8	369	(45)	1,027
Other [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	10,249	11,887	31,685	33,631
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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 126	$ 141	$ 427	$ 423
Interest cost	554	552	1,652	1,655
Expected return on plan assets	(741)	(576)	(2,033)	(1,727)
Net amortization and deferral	157	132	476	395
Net periodic pension cost	$ 96	$ 249	$ 522	$ 746

Employee Retirement Plans (De_2

Employee Retirement Plans (Details Textual) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Payment for Pension Benefits	$ 3,000	$ 3,000	$ 4,000

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 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, Granted | shares	129,200
Shares, Exercised | shares	(412,014)
Shares, Forfeited or expired | shares	(27,576)
Shares, Outstanding at end of year | shares	1,192,103
Shares, Exercisable at end of year | shares	709,040
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 26.57
Weighted Average Exercise Price,Granted (in dollars per share) | $ / shares	37.22
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	25.94
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	26.36
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	27.93
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 26.89
Weighted Average Remaining Contractual Life (Years), Outstanding - September 30, 2018	4 years 4 months 24 days
Weighted Average Remaining Contractual Life (Years), Exercisable - September 30, 2018	2 years 7 months 6 days
Aggregate Intrinsic Value, Outstanding at September 30, 2018 | $	$ 8,903,000	[1]
Aggregate Intrinsic Value, Exercisable at September 30, 2018 | $	$ 5,880,000	[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 28, 2018, the last trading day of the quarter, of $35.18 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 654	$ 208	$ 3,704	$ 272
Net cash proceeds from stock option exercises	260	1,575	4,308	2,013
Income tax benefit from the exercise of stock options	$ 170	$ 81	$ 963	$ 106

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member]	9 Months Ended
	Sep. 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	25,319
Shares of Restricted Stock, Vested | shares	(25,514)
Shares of Restricted Stock, Forfeited | shares	(4,375)
Shares of Restricted Stock, Non-vested end of year | shares	61,480
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	37.06
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	37.59
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	26.60
Weighted Average Grant Date Fair Value, Non-vested end of year (in dollars per share) | $ / shares	$ 30.74
Weighted Average Remaining Contractual Term (Years), Non-vested at September 30, 2018	2 years 10 months 24 days
Aggregate Intrinsic Value (in dollars), Non-vested at September 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 September 28, 2018, the last trading day of the quarter, of $35.18 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 28, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 344,000	$ 395,000	$ 1,149,000	$ 1,174,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 35.18
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share	$ 35.18

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) - USD ($) $ in Thousands	Nov. 14, 2018	Sep. 30, 2018	Dec. 31, 2017
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%
Short-term Debt		$ 8,048	$ 0
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total		$ 60,000
Line of Credit Facility, Interest Rate During Period		3.00%
Line of Credit Facility, Remaining Borrowing Capacity		$ 8,000
Revolving Credit Facility [Member] | Subsequent Event [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Description	Subsequent to September 30, 2018, the line of credit agreement was renewed on the same terms for another one-year period, expiring November 5, 2019.

Financial Instruments (Details

Financial Instruments (Details Textual) - Sep. 30, 2018 $ in Millions	USD ($)	AUD ($)
Foreign Exchange Contracts, Australian [Member]
Financial Instruments [Line Items]
Investment Owned, Foreign Currency Contract, Current Value	$ 800,000	$ 1

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net earnings	$ 6,152	$ 4,920	$ 10,491	$ 8,338
Foreign currency translation adjustments	(182)	452	(1,292)	1,672
Pension liability, net of tax of $41, $52, $124 and $154, respectively	116	80	352	241
Total comprehensive income	$ 6,086	$ 5,452	$ 9,551	$ 10,251

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Foreign currency translation adjustments	$ (6,117)	$ (4,186)
Pension liability, net of tax	(13,321)	(13,673)
Total accumulated other comprehensive loss	$ (19,438)	$ (17,859)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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			(820)
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss			0
Foreign Currency Translation Adjustments, Amounts reclassified from noncontrolling interest			(1,111)
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income			(1,931)
Foreign Currency Translation Adjustments, Ending balance	$ (6,117)		(6,117)
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	116	$ 80	352	$ 241
Defined Benefit Pension Items, Amounts reclassified from noncontrolling interest			0
Defined Benefit Pension Items, Net current period other comprehensive (loss) income			352
Defined Benefit Pension Items, Ending balance	(13,321)		(13,321)
Beginning balance			(17,859)
Other comprehensive loss before reclassifications			(820)
Amounts reclassified from accumulated other comprehensive loss			352
Amounts reclassified from noncontrolling interest			(1,111)
Net current period other comprehensive (loss) income			(1,579)
Ending balance	$ (19,438)		$ (19,438)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Amortization of defined benefit pension items
Prior service cost	[1]			$ (47)
Actuarial losses	[1]			523
Total before tax				476
Tax benefit				(124)
Net of tax		$ 116	$ 80	$ 352	$ 241
[1]	These amounts were included in the net periodic pension cost. See Note 10 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 41	$ 52	$ 124	$ 154

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			$ 205,659
Net earnings	$ 6,152	$ 4,920	10,491	$ 8,338
Foreign currency translation adjustments	(182)	$ 452	(1,292)	$ 1,672
Pension liability adjustment, net of tax			(352)
Balance, September 30, 2018	202,576		202,576
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
Purchase of noncontrolling interest			0
Stock options exercised			218
Issuance of restricted stock			25
Restricted stock forfeited			(4)
Stock-based compensation expense			0
Shares purchased and retired			(199)
Balance, September 30, 2018	10,202		10,202
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
Purchase of noncontrolling interest			3,535
Stock options exercised			3,391
Issuance of restricted stock			(25)
Restricted stock forfeited			4
Stock-based compensation expense			1,149
Shares purchased and retired			0
Balance, September 30, 2018	63,938		63,938
Reinvested Earnings [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			150,350
Net earnings			10,889
Foreign currency translation adjustments			0
Pension liability adjustment, net of tax			0
Cash dividends declared			(6,975)
Cash dividends paid to noncontrolling interest			0
Purchase of noncontrolling interest			0
Stock options exercised			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			(6,390)
Balance, September 30, 2018	147,874		147,874
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			(17,859)
Net earnings			0
Foreign currency translation adjustments			(820)
Pension liability adjustment, net of tax			352
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			0
Purchase of noncontrolling interest			(1,111)
Stock options exercised			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, September 30, 2018	(19,438)		(19,438)
Noncontrolling Interest [Member]
Stockholders Equity Note [Line Items]
Balance, December 31, 2017			7,122
Net earnings			(398)
Foreign currency translation adjustments			(472)
Pension liability adjustment, net of tax			0
Cash dividends declared			0
Cash dividends paid to noncontrolling interest			(88)
Purchase of noncontrolling interest			(6,164)
Stock options exercised			0
Issuance of restricted stock			0
Restricted stock forfeited			0
Stock-based compensation expense			0
Shares purchased and retired			0
Balance, September 30, 2018	$ 0		$ 0