Weyco (WEYS) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	WEYCO GROUP INC
Entity Central Index Key	0000106532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	WEYS
Entity Common Stock, Shares Outstanding		9,998,452
Entity Emerging Growth Company	false
Entity Small Business	true

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS:
Cash and cash equivalents	$ 17,340	$ 22,973
Marketable securities, at amortized cost	1,834	1,525
Accounts receivable, net	50,672	51,533
Inventories	65,783	72,684
Prepaid expenses and other current assets	3,072	5,380
Total current assets	138,701	154,095
Marketable securities, at amortized cost	19,032	18,702
Deferred income tax benefits	1,283	1,277
Property, plant and equipment, net	28,877	28,707
Operating lease right-of-use assets	24,394	0
Goodwill	11,112	11,112
Trademarks	32,868	32,868
Other assets	23,449	23,283
Total assets	279,716	270,044
LIABILITIES AND EQUITY:
Short-term borrowings	3,720	5,840
Accounts payable	4,771	12,764
Dividend payable	0	2,308
Operating lease liabilities	7,704	0
Accrued liabilities	10,439	14,306
Accrued income tax payable	1,608	912
Total current liabilities	28,242	36,130
Deferred income tax liabilities	3,756	3,724
Long-term pension liability	23,098	23,112
Operating lease liabilities	18,362	0
Other long-term liabilities	223	1,495
Total liabilities	73,681	64,461
Common stock	9,995	10,057
Capital in excess of par value	64,634	64,263
Reinvested earnings	152,740	152,835
Accumulated other comprehensive loss	(21,334)	(21,572)
Total equity	206,035	205,583
Total liabilities and equity	$ 279,716	$ 270,044

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 74,128	$ 69,526
Cost of sales	45,364	42,901
Gross earnings	28,764	26,625
Selling and administrative expenses	23,618	23,058
Earnings from operations	5,146	3,567
Interest income	223	233
Interest expense	(32)	0
Other expense, net	(125)	(43)
Earnings before provision for income taxes	5,212	3,757
Provision for income taxes	1,244	941
Net earnings	3,968	2,816
Net (loss) earnings attributable to noncontrolling interest	0	(171)
Net earnings attributable to Weyco Group, Inc.	$ 3,968	$ 2,987
Weighted average shares outstanding
Basic	9,949	10,173
Diluted	10,027	10,361
Earnings per share
Basic	$ 0.40	$ 0.29
Diluted	0.40	0.29
Cash dividends declared (per share	$ 0.23	$ 0.22
Comprehensive income	$ 4,206	$ 2,815
Comprehensive loss attributable to noncontrolling interest	0	(205)
Comprehensive income attributable to Weyco Group, Inc.	$ 4,206	$ 3,020

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 3,968	$ 2,816
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation	827	962
Amortization	83	92
Bad debt expense	48	105
Deferred income taxes	(12)	135
Net foreign currency transaction losses (gains)	16	(14)
Share-based compensation expense	366	351
Pension expense	229	213
Increase in cash surrender value of life insurance	(135)	(135)
Changes in operating assets and liabilities -
Accounts receivable	816	(1,415)
Inventories	6,900	9,165
Prepaid expenses and other assets	2,182	2,590
Accounts payable	(7,990)	(3,586)
Accrued liabilities and other	(3,537)	(3,402)
Accrued income taxes	696	490
Net cash provided by operating activities	4,457	8,367
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities	(1,327)	(1,241)
Proceeds from maturities of marketable securities	680	1,350
Purchases of property, plant and equipment	(981)	(125)
Net cash used for investing activities	(1,628)	(16)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(4,593)	(4,471)
Cash dividends paid to noncontrolling interest of subsidiary	0	(88)
Shares purchased and retired	(1,828)	0
Net proceeds from stock options exercised	7	2,884
Proceeds from bank borrowings	31,813	0
Repayments of bank borrowings	(33,933)	0
Net cash used for financing activities	(8,534)	(1,675)
Effect of exchange rate changes on cash and cash equivalents	72	(47)
Net (decrease) increase in cash and cash equivalents	(5,633)	6,629
CASH AND CASH EQUIVALENTS at beginning of year	22,973	23,453
CASH AND CASH EQUIVALENTS at end of year	17,340	30,082
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	423	146
Interest paid	$ 31	$ 0

Financial Statements

Financial Statements	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	1. Financial Statements In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three-month period ended March 31, 2019, may not necessarily be indicative of the results for the full year.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncement	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncement [Text Block]	2. Recently Adopted Accounting Pronouncement On January 1, 2019, the Company adopted Accounting Standards Update 2016-02, Leases existing at the date of initial application. The comparative information has not been restated and continues to be reported in accordance with historical accounting under Topic 840. The Company elected to utilize certain practical expedients that were provided for transition relief. Accordingly, the Company is not reassessing expired or existing contracts, lease classifications or related initial direct costs as part of its assessment process. Additionally, the Company elected not to apply the recognition requirements of ASC 842 to short-term leases. The adoption of ASC 842 ad a material impact on the Company’s consolidated condensed balance sheet due to the recognition of ROU assets and lease liabilities. The Company recognized operating lease ROU assets and corresponding lease liabilities totaling $26.0 million and $27.8 million, respectively, The operating lease ROU assets recorded on the adoption date were net of approximately $1.8 million in reclassifications of other accrued liabilities and long-term liabilities. The adoption did not impact beginning retained earnings, nor did it have a material impact on the Company’s earnings or cash flows.

Update to Significant Accountin

Update to Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	3. Update to Significant Accounting Policies The Company adopted ASC 842 in the first quarter of 2019. As a result, the Company updated its significant accounting policies for leases below. Refer to Note 2 for the impact of the adoption on the Company’s consolidated condensed financial statements and Note 9 for additional information related to the Company’s lease arrangements. The Company leases retail shoe stores, primarily located in the U.S. and Australia, as well as several office and distribution facilities worldwide. The Company determines whether an arrangement is or contains a lease at contract inception. All of the Company’s leases are classified as operating leases, which are included in the operating lease ROU assets and operating lease liabilities in the consolidated condensed balance sheets (unaudited). The Company has no finance leases. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement, as well as any variable rate payments that depend on an index, initially measured using the index at the lease commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. As the Company’s leases generally do not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The incremental borrowing rate was a hypothetical rate based on an understanding of what the Company could borrow from a third-party lender, on a collateralized basis, over a similar term, and in an amount that approximates the value of the Company’s future lease payments. The Company used a portfolio approach and applied a single discount rate to all of its leases. Operating lease costs are recognized on a straight-line basis over the lease term and are included in selling and administrative expenses. Variable lease payments that do not depend on a rate or index, payments associated with non-lease components, and short-term rentals (leases with terms less than 12 months) are expensed as incurred.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	4. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, 2019 2018 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 3,968 $ 2,987 Denominator: Basic weighted average shares outstanding 9,949 10,173 Effect of dilutive securities: Employee share-based awards 78 188 Diluted weighted average shares outstanding 10,027 10,361 Basic earnings per share $ 0.40 $ 0.29 Diluted earnings per share $ 0.40 $ 0.29 Diluted weighted average shares outstanding for the three months ended March 31, 2019, exclude anti-dilutive stock options totaling 348,000 shares of common stock at a weighted average price of $29.51. Diluted weighted average shares outstanding for the three months ended March 31, 2018, exclude anti-dilutive stock options totaling 207,000 shares of common stock at a weighted average price of $27.94.

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	5. Investments As noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, all of the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities , as the Company has the intent and ability to hold all investments to maturity. Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of March 31, 2019 and December 31, 2018. March 31, 2019 December 31, 2018 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 1,834 $ 1,839 $ 1,525 $ 1,532 Due from one through five years 10,194 10,373 9,752 9,861 Due from six through ten years 6,027 6,356 6,239 6,433 Due from eleven through twenty years 2,811 2,906 2,711 2,713 Total $ 20,866 $ 21,474 $ 20,227 $ 20,539 The unrealized gains and losses on marketable securities at March 31, 2019, and at December 31, 2018, were as follows: March 31, 2019 December 31, 2018 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 610 $ (2 ) $ 388 $ (76 ) The estimated market values provided are level 2 valuations as defined by ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). The Company reviewed its portfolio of investments as of March 31, 2019 and determined that no other-than-temporary market value impairment exists.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible Assets During the three months ended March 31, 2019, there were no changes in the carrying value of the Company’s indefinite-lived intangible assets (goodwill and trademarks). The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: March 31, 2019 December 31, 2018 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 (1,886 ) $ 1,614 $ 3,500 (1,828 ) $ 1,672 Total amortizable intangible assets $ 3,500 (1,886 ) $ 1,614 $ 3,500 (1,828 ) $ 1,672 Amortization expense related to the intangible assets was approximately $60,000 in both the first quarters of 2019 and 2018.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	7. Segment Information The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the table below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. Summarized segment data for the three months ended March 31, 2019 and 2018, was as follows: Three Months Ended March 31, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 58,774 $ 5,571 $ 9,076 $ 73,421 Licensing revenues 707 - - 707 Net sales $ 59,481 $ 5,571 $ 9,076 $ 74,128 Earnings (loss) from operations $ 5,206 $ 483 $ (543 ) $ 5,146 2018 Product sales $ 52,995 $ 4,927 $ 10,811 $ 68,733 Licensing revenues 793 - - 793 Net sales $ 53,788 $ 4,927 $ 10,811 $ 69,526 Earnings (loss) from operations $ 3,390 $ 206 $ (29 ) $ 3,567

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. Employee Retirement Plans The components of the Company’s net periodic pension cost were as follows: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Service cost $ 103 $ 151 Interest cost 606 549 Expected return on plan assets (626 ) (646 ) Net amortization and deferral 146 159 Net periodic pension cost $ 229 $ 213 The components of net periodic pension cost other than the service cost component were included in "other expense, net" in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Unaudited).

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	9. Leases The Company retail shoe stores, and distribution facilities . The leases have original lease periods expiring between 2019 and 2033. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonable assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of the Company’s operating lease costs were as follows (dollars in thousands): Three Months Ended March 31, 2019 Operating lease costs $ 2,194 Variable lease costs (1) 9 Total lease costs $ 2,203 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts. The following is a schedule of maturities of operating lease liabilities as of March 31, 2019 (dollars in thousands): Operating Leases 2019, excluding the quarter ended March 31, 2019 $ 6,605 2020 7,685 2021 5,703 2022 3,372 2023 2,361 Thereafter 3,002 Total lease payments 28,728 Less imputed interest (2,662 ) Present value of lease liabilities 26,066 The operating lease liabilities are classified in the consolidated condensed balance sheet (unaudited) as follows (dollars in thousands): March 31, 2019 Operating lease liabilities - current $ 7,704 Operating lease liabilities - non-current 18,362 Total $ 26,066 The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of March 31, 2019, the Company’s leases have a weighted-average remaining lease term of 6.25 years. The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands): Operating Leases 2019 $ 9,468 2020 7,529 2021 5,584 2022 3,278 2023 2,321 Thereafter 4,161 Total $ 32,341 Supplemental cash flow information related to the Company’s operating leases are as follows (dollars in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 2,252 Right-of-use assets obtained in exchange for new lease liabilities $ 26,029

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2019
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 months ended March 31, 2019, the Company recognized $366,000 of compensation expense associated with stock option and restricted stock awards granted in years 2015 through 2019. During the three months ended March 31, 2018, the Company recognized $351,000 of compensation expense associated with stock option and restricted stock awards granted in years 2014 through 2017. The following table summarizes the Company’s stock option activity for the three-month period ended March 31, 2019: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2018 1,173,620 $ 27.96 Granted 2,500 $ 28.77 Exercised (3,250 ) $ 27.97 Forfeited or expired (1,430 ) $ 30.43 Outstanding at March 31, 2019 1,171,440 $ 27.96 3.9 $ 4,316,000 Exercisable at March 31, 2019 688,757 $ 26.91 2.1 $ 2,789,000 * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 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 months ended March 31, 2019 and 2018: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Total intrinsic value of stock options exercised $ 11 $ 501 Cash received from stock option exercises $ 7 $ 2,884 Income tax benefit from the exercise of stock options $ 3 $ 130 The following table summarizes the Company’s restricted stock award activity for the three-month period ended March 31, 2019: Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2018 61,480 $ 30.74 Issued 600 $ 28.77 Vested - - Forfeited - - Non-vested at March 31, 2019 62,080 $ 30.72 2.4 $ 1,922,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 multiplied by the number of non-vested restricted shares outstanding.

Short-Term Borrowings

Short-Term Borrowings	3 Months Ended
	Mar. 31, 2019
Short-term Debt [Abstract]
Short-term Debt [Text Block]	11. Short-Term Borrowings At March 31, 2019, the Company had a $60 million unsecured revolving line of credit with a bank expiring November 5, 2019. The line of credit bears interest at the London Interbank Offered Rate (“LIBOR”) plus 0.75%. At March 31, 2019, outstanding borrowings were approximately $3.7 million at an interest rate of 3.25%. The highest balance on the line of credit during the quarter was $7.7 million.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2019
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	12. Financial Instruments At March 31, 2019, the Company had foreign exchange contracts outstanding to sell $3.0 million Canadian dollars at a price of approximately $2.3 million U.S. 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	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	13. Comprehensive Income Comprehensive income for the three months ended March 31, 2019 and 2018, was as follows: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Net earnings $ 3,968 $ 2,816 Foreign currency translation adjustments 130 (119 ) Pension liability, net of tax of $38 and $41, respectively 108 118 Total comprehensive income $ 4,206 $ 2,815 The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: March 31, December 31, 2019 2018 (Dollars in thousands) Foreign currency translation adjustments $ (6,771 ) $ (6,901 ) Pension liability, net of tax (14,563 ) (14,671 ) Total accumulated other comprehensive loss $ (21,334 ) $ (21,572 ) The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the three months ended March 31, 2019: Foreign Currency Translation Adjustments Defined Benefit Pension Items Total Beginning balance, December 31, 2018 $ (6,901 ) $ (14,671 ) $ (21,572 ) Other comprehensive income before reclassifications 130 - 130 Amounts reclassified from accumulated other comprehensive loss - 108 108 Net current period other comprehensive income 130 108 238 Ending balance, March 31, 2019 $ (6,771 ) $ (14,563 ) $ (21,334 ) The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the three months ended March 31, 2019: Amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2019 Affected line item in the statement where net income is presented Amortization of defined benefit pension items Prior service cost $ (16 ) (1) Other expense, net Actuarial losses 162 (1) Other expense, net Total before tax 146 Tax benefit (38 ) Net of tax $ 108 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	14. Equity The following table reconciles the Company’s equity for the three months ended March 31, 2019: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Stock Par Value Earnings Loss (Dollars in thousands) Balance, December 31, 2018 $ 10,057 $ 64,263 $ 152,835 $ (21,572 ) Net earnings - - 3,968 - Foreign currency translation adjustments - - - 130 Pension liability adjustment, net of tax - - - 108 Cash dividends declared - - (2,299 ) - Stock options exercised 1 6 - - Issuance of restricted stock 1 (1 ) - - Share-based compensation expense - 366 - - Shares purchased and retired (64 ) - (1,764 ) - Balance, March 31, 2019 $ 9,995 $ 64,634 $ 152,740 $ (21,334 ) The following table reconciles the Company’s equity for the three months ended March 31, 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 - - 2,987 - (171 ) Foreign currency translation adjustments - - - (85 ) (34 ) Pension liability adjustment, net of tax - - - 118 - Cash dividends declared - - (2,257 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Stock options exercised 108 2,776 - - - Restricted stock forfeited (2 ) 2 - - - Share-based compensation expense - 351 - - - Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826 ) $ 6,829

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, 2019 2018 (In thousands, except per share amounts) Numerator: Net earnings attributable to Weyco Group, Inc. $ 3,968 $ 2,987 Denominator: Basic weighted average shares outstanding 9,949 10,173 Effect of dilutive securities: Employee share-based awards 78 188 Diluted weighted average shares outstanding 10,027 10,361 Basic earnings per share $ 0.40 $ 0.29 Diluted earnings per share $ 0.40 $ 0.29

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018. March 31, 2019 December 31, 2018 Amortized Market Amortized Market Cost Value Cost Value (Dollars in thousands) Municipal bonds: Current $ 1,834 $ 1,839 $ 1,525 $ 1,532 Due from one through five years 10,194 10,373 9,752 9,861 Due from six through ten years 6,027 6,356 6,239 6,433 Due from eleven through twenty years 2,811 2,906 2,711 2,713 Total $ 20,866 $ 21,474 $ 20,227 $ 20,539
Unrealized Gain (Loss) on Investments [Table Text Block]	The unrealized gains and losses on marketable securities at March 31, 2019, and at December 31, 2018, were as follows: March 31, 2019 December 31, 2018 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 610 $ (2 ) $ 388 $ (76 )

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The Company’s amortizable intangible assets, which were included within other assets in the Consolidated Condensed Balance Sheets (unaudited), consisted of the following: March 31, 2019 December 31, 2018 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 (1,886 ) $ 1,614 $ 3,500 (1,828 ) $ 1,672 Total amortizable intangible assets $ 3,500 (1,886 ) $ 1,614 $ 3,500 (1,828 ) $ 1,672

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Summarized segment data for the three months ended March 31, 2019 and 2018, was as follows: Three Months Ended March 31, Wholesale Retail Other Total (Dollars in thousands) 2019 Product sales $ 58,774 $ 5,571 $ 9,076 $ 73,421 Licensing revenues 707 - - 707 Net sales $ 59,481 $ 5,571 $ 9,076 $ 74,128 Earnings (loss) from operations $ 5,206 $ 483 $ (543 ) $ 5,146 2018 Product sales $ 52,995 $ 4,927 $ 10,811 $ 68,733 Licensing revenues 793 - - 793 Net sales $ 53,788 $ 4,927 $ 10,811 $ 69,526 Earnings (loss) from operations $ 3,390 $ 206 $ (29 ) $ 3,567

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 2018 (Dollars in thousands) Service cost $ 103 $ 151 Interest cost 606 549 Expected return on plan assets (626 ) (646 ) Net amortization and deferral 146 159 Net periodic pension cost $ 229 $ 213

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of the Company’s operating lease costs were as follows (dollars in thousands): Three Months Ended March 31, 2019 Operating lease costs $ 2,194 Variable lease costs (1) 9 Total lease costs $ 2,203 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The following is a schedule of maturities of operating lease liabilities as of March 31, 2019 (dollars in thousands): Operating Leases 2019, excluding the quarter ended March 31, 2019 $ 6,605 2020 7,685 2021 5,703 2022 3,372 2023 2,361 Thereafter 3,002 Total lease payments 28,728 Less imputed interest (2,662 ) Present value of lease liabilities 26,066
Lessee, Operating Lease, Disclosure [Table Text Block]	The operating lease liabilities are classified in the consolidated condensed balance sheet (unaudited) as follows (dollars in thousands): March 31, 2019 Operating lease liabilities - current $ 7,704 Operating lease liabilities - non-current 18,362 Total $ 26,066
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands): Operating Leases 2019 $ 9,468 2020 7,529 2021 5,584 2022 3,278 2023 2,321 Thereafter 4,161 Total $ 32,341
Supplemental Information Related To Operating Lease [Table Text Block]	Supplemental cash flow information related to the Company’s operating leases are as follows (dollars in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 2,252 Right-of-use assets obtained in exchange for new lease liabilities $ 26,029

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2019
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 three-month period ended March 31, 2019: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Years) Value* Outstanding at December 31, 2018 1,173,620 $ 27.96 Granted 2,500 $ 28.77 Exercised (3,250 ) $ 27.97 Forfeited or expired (1,430 ) $ 30.43 Outstanding at March 31, 2019 1,171,440 $ 27.96 3.9 $ 4,316,000 Exercisable at March 31, 2019 688,757 $ 26.91 2.1 $ 2,789,000 * The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block]	The following table summarizes the Company’s stock option exercise activity for the three months ended March 31, 2019 and 2018: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Total intrinsic value of stock options exercised $ 11 $ 501 Cash received from stock option exercises $ 7 $ 2,884 Income tax benefit from the exercise of stock options $ 3 $ 130
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	The following table summarizes the Company’s restricted stock award activity for the three-month period ended March 31, 2019: Weighted Weighted Average Shares of Average Remaining Aggregate Restricted Grant Date Contractual Intrinsic Stock Fair Value Term (Years) Value* Non-vested at December 31, 2018 61,480 $ 30.74 Issued 600 $ 28.77 Vested - - Forfeited - - Non-vested at March 31, 2019 62,080 $ 30.72 2.4 $ 1,922,000 * The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 multiplied by the number of non-vested restricted shares outstanding.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Comprehensive income for the three months ended March 31, 2019 and 2018, was as follows: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Net earnings $ 3,968 $ 2,816 Foreign currency translation adjustments 130 (119 ) Pension liability, net of tax of $38 and $41, respectively 108 118 Total comprehensive income $ 4,206 $ 2,815
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss as recorded in the Consolidated Condensed Balance Sheets (Unaudited) were as follows: March 31, December 31, 2019 2018 (Dollars in thousands) Foreign currency translation adjustments $ (6,771 ) $ (6,901 ) Pension liability, net of tax (14,563 ) (14,671 ) Total accumulated other comprehensive loss $ (21,334 ) $ (21,572 )
Changes In Accumulated Other Comprehensive Loss [Table Text Block]	The following presents a tabular disclosure about changes in accumulated other comprehensive loss during the three months ended March 31, 2019: Foreign Currency Translation Adjustments Defined Benefit Pension Items Total Beginning balance, December 31, 2018 $ (6,901 ) $ (14,671 ) $ (21,572 ) Other comprehensive income before reclassifications 130 - 130 Amounts reclassified from accumulated other comprehensive loss - 108 108 Net current period other comprehensive income 130 108 238 Ending balance, March 31, 2019 $ (6,771 ) $ (14,563 ) $ (21,334 )
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 three months ended March 31, 2019: Amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2019 Affected line item in the statement where net income is presented Amortization of defined benefit pension items Prior service cost $ (16 ) (1) Other expense, net Actuarial losses 162 (1) Other expense, net Total before tax 146 Tax benefit (38 ) Net of tax $ 108 (1) These amounts were included in net periodic pension cost. See Note 8 for additional details.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following table reconciles the Company’s equity for the three months ended March 31, 2019: Accumulated Capital in Other Common Excess of Reinvested Comprehensive Stock Par Value Earnings Loss (Dollars in thousands) Balance, December 31, 2018 $ 10,057 $ 64,263 $ 152,835 $ (21,572 ) Net earnings - - 3,968 - Foreign currency translation adjustments - - - 130 Pension liability adjustment, net of tax - - - 108 Cash dividends declared - - (2,299 ) - Stock options exercised 1 6 - - Issuance of restricted stock 1 (1 ) - - Share-based compensation expense - 366 - - Shares purchased and retired (64 ) - (1,764 ) - Balance, March 31, 2019 $ 9,995 $ 64,634 $ 152,740 $ (21,334 ) The following table reconciles the Company’s equity for the three months ended March 31, 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 - - 2,987 - (171 ) Foreign currency translation adjustments - - - (85 ) (34 ) Pension liability adjustment, net of tax - - - 118 - Cash dividends declared - - (2,257 ) - - Cash dividends paid to noncontrolling interest - - - - (88 ) Stock options exercised 108 2,776 - - - Restricted stock forfeited (2 ) 2 - - - Share-based compensation expense - 351 - - - Balance, March 31, 2018 $ 10,268 $ 59,013 $ 151,080 $ (17,826 ) $ 6,829

Recently Adopted Accounting P_2

Recently Adopted Accounting Pronouncement- (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Operating Lease, Right-of-Use Asset	$ 24,394	$ 26,000	$ 0
Operating Lease, Liability	$ 26,066	27,800
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ 1,800

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net earnings attributable to Weyco Group, Inc.	$ 3,968	$ 2,987
Denominator:
Basic weighted average shares outstanding (in shares)	9,949	10,173
Effect of dilutive securities:
Employee stock-based awards (in shares)	78	188
Diluted weighted average shares outstanding (in shares)	10,027	10,361
Basic earnings per share (in dollars per share)	$ 0.40	$ 0.29
Diluted earnings per share (in dollars per share)	$ 0.40	$ 0.29

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	348,000	207,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 29.51	$ 27.94

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 1,834	$ 1,525
Municipal Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	1,834	1,525
Amortized Cost, Due from one through five years	10,194	9,752
Amortized Cost, Due from six through ten years	6,027	6,239
Amortized Cost, Due from eleven through twenty years	2,811	2,711
Amortized Cost, Total	20,866	20,227
Market Value, Current	1,839	1,532
Market Value, Due from one through five years	10,373	9,861
Market Value, Due from six through ten years	6,356	6,433
Market Value, Due from eleven through twenty years	2,906	2,713
Market Value, Total	$ 21,474	$ 20,539

Investments (Details 1)

Investments (Details 1) - Municipal Bonds [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Investment Income [Line Items]
Unrealized Gains	$ 610	$ 388
Unrealized Losses	$ (2)	$ (76)

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Amortizable intangible assets:
Gross Carrying Amount	$ 3,500	$ 3,500
Accumulated Amortization	(1,886)	(1,828)
Net	$ 1,614	1,672
Customer Relationships [Member]
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(1,886)	(1,828)
Net	$ 1,614	$ 1,672

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 60,000	$ 60,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 74,128	$ 69,526
Earnings from operations	5,146	3,567
Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	73,421	68,733
Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	707	793
Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	59,481	53,788
Earnings from operations	5,206	3,390
Wholesale [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	58,774	52,995
Wholesale [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	707	793
Retail Segment [Member]
Segment Reporting Information [Line Items]
Net sales	5,571	4,927
Earnings from operations	483	206
Retail Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	5,571	4,927
Retail Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	0	0
Other Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,076	10,811
Earnings from operations	(543)	(29)
Other Segment [Member] | Product sales [Member]
Segment Reporting Information [Line Items]
Net sales	9,076	10,811
Other Segment [Member] | Licensing revenues [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0

Employee Retirement Plans (Deta

Employee Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 103	$ 151
Interest cost	606	549
Expected return on plan assets	(626)	(646)
Net amortization and deferral	146	159
Net periodic pension cost	$ 229	$ 213

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease costs	$ 2,194
Variable lease costs	9	[1]
Total lease costs	$ 2,203
[1]	Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.

Leases (Details1)

Leases (Details1) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2019, excluding the quarter ended March 31, 2019	$ 6,605
2020	7,685
2021	5,703
2022	3,372
2023	2,361
Thereafter	3,002
Total lease payments	28,728
Less imputed interest	(2,662)
Present value of lease liabilities	$ 26,066	$ 27,800

Leases (Details 2)

Leases (Details 2) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease liabilities - current	$ 7,704		$ 0
Operating lease liabilities - non-current	18,362		$ 0
Total	$ 26,066	$ 27,800

Leases (Details 3)

Leases (Details 3) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2019	$ 9,468
2020	7,529
2021	5,584
2022	3,278
2023	2,321
Thereafter	4,161
Total	$ 32,341

Leases (Details 4)

Leases (Details 4) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 2,252
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$ 26,029

Leases (Details Textual)

Leases (Details Textual)	Mar. 31, 2019
Operating Lease, Weighted Average Discount Rate, Percent	4.25%
Operating Lease, Weighted Average Remaining Lease Term	6 years 3 months

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) - Employee Stock Option [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of year | shares	1,173,620
Shares, Granted | shares	2,500
Shares, Exercised | shares	(3,250)
Shares, Forfeited or expired | shares	(1,430)
Shares, Outstanding at end of year | shares	1,171,440
Shares, Exercisable at end of year | shares	688,757
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share) | $ / shares	$ 27.96
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares	28.77
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	27.97
Weighted Average Exercise Price, Forfeited or expired (in dollars per share) | $ / shares	30.43
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share) | $ / shares	27.96
Weighted Average Exercise Price, Exercisable at end of year (in dollars per share) | $ / shares	$ 26.91
Weighted Average Remaining Contractual Life (Years), Outstanding - December 31, 2018	3 years 10 months 24 days
Weighted Average Remaining Contractual Life (Years), Exercisable - December 31, 2018	2 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at December 31, 2018 | $	$ 4,316,000	[1]
Aggregate Intrinsic Value, Exercisable at December 31, 2018 | $	$ 2,789,000	[1]
[1]	The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 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
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 11	$ 501
Net proceeds from stock option exercises	7	2,884
Income tax benefit from the exercise of stock options	$ 3	$ 130

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Details 2) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of year | shares	61,480
Shares of Restricted Stock, Issued | shares	600
Shares of Restricted Stock, Vested | shares	0
Shares of Restricted Stock, Forfeited | shares	0
Shares of Restricted Stock, Non-vested end of year | shares	62,080
Weighted Average Grant Date Fair Value, Non-vested beginning of year (in dollars per share) | $ / shares	$ 30.74
Weighted Average Grant Date Fair Value, Issued (in dollars per share) | $ / shares	28.77
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	0
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	0
Weighted Average Grant Date Fair Value, Non-vested end of year (in dollars per share) | $ / shares	$ 30.72
Weighted Average Remaining Contractual Term (Years)	2 years 4 months 24 days
Aggregate Intrinsic Value | $	$ 1,922,000	[1]
[1]	The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 multiplied by the number of non-vested restricted shares outstanding.

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 29, 2019	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 366,000	$ 351,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 30.96
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share	$ 30.96

Short-Term Borrowings (Details

Short-Term Borrowings (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 7.7
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total	60
Line of Credit, Current	$ 3.7
Line of Credit Facility, Interest Rate During Period	3.25%

Financial Instruments (Details

Financial Instruments (Details Textual) - Mar. 31, 2019 $ in Millions, $ in Millions	USD ($)	CAD ($)
Foreign Exchange Contracts Australian [Member]
Investment Owned, Foreign Currency Contract, Current Value	$ 2.3	$ 3

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Net earnings	$ 3,968	$ 2,816
Foreign currency translation adjustments	130	(119)
Pension liability, net of tax of $38 and $41, respectively	108	118
Total comprehensive income	$ 4,206	$ 2,815

Comprehensive Income (Details 1

Comprehensive Income (Details 1) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Foreign currency translation adjustments	$ (6,771)	$ (6,901)
Pension liability, net of tax	(14,563)	(14,671)
Total accumulated other comprehensive loss	$ (21,334)	$ (21,572)

Comprehensive Income (Details 2

Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign Currency Translation Adjustments, Beginning balance	$ (6,901)
Foreign Currency Translation Adjustments, Other comprehensive (loss) income before reclassifications	130
Foreign Currency Translation Adjustments, Amounts reclassified from accumulated other comprehensive loss	0
Foreign Currency Translation Adjustments, Net current period other comprehensive loss (income)	130
Foreign Currency Translation Adjustments, Ending balance	(6,771)
Defined Benefit Pension Items, Beginning balance	(14,671)
Defined Benefit Pension Items, Other comprehensive loss before reclassifications	0
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	108	$ 118
Defined Benefit Pension Items, Net current period other comprehensive loss (income)	108
Defined Benefit Pension Items, Ending balance	(14,563)
Beginning balance	(21,572)
Other comprehensive (loss) income before reclassifications	130
Amounts reclassified from accumulated other comprehensive loss	108
Net current period other comprehensive loss (income)	238
Ending balance	$ (21,334)

Comprehensive Income (Details 3

Comprehensive Income (Details 3) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Amortization of defined benefit pension items
Prior service cost	[1]	$ (16)
Actuarial losses	[1]	162
Total before tax		146
Tax benefit		(38)
Net of tax		$ 108	$ 118
[1]	These amounts were included in net periodic pension cost. See Note 8 for additional details.

Comprehensive Income (Details T

Comprehensive Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 38	$ 41

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance	$ 205,583
Net earnings	3,968	$ 2,816
Foreign currency translation adjustments	130	(119)
Pension liability adjustment, net of tax	(108)
Balance	206,035
Common Stock [Member]
Balance	10,057	10,162
Net earnings	0	0
Foreign currency translation adjustments	0	0
Pension liability adjustment, net of tax	0	0
Cash dividends declared	0	0
Cash dividends paid to noncontrolling interest		0
Stock options exercised	1	108
Restricted stock forfeited		(2)
Issuance of restricted stock	1
Share-based compensation expense	0	0
Shares purchased and retired	(64)
Balance	9,995	10,268
Capital in Excess of Par Value [Member]
Balance	64,263	55,884
Net earnings	0	0
Foreign currency translation adjustments	0	0
Pension liability adjustment, net of tax	0	0
Cash dividends declared	0	0
Cash dividends paid to noncontrolling interest		0
Stock options exercised	6	2,776
Restricted stock forfeited		2
Issuance of restricted stock	(1)
Share-based compensation expense	366	351
Shares purchased and retired	0
Balance	64,634	59,013
Reinvested Earnings [Member]
Balance	152,835	150,350
Net earnings	3,968	2,987
Foreign currency translation adjustments	0	0
Pension liability adjustment, net of tax	0	0
Cash dividends declared	(2,299)	(2,257)
Cash dividends paid to noncontrolling interest		0
Stock options exercised	0	0
Restricted stock forfeited		0
Issuance of restricted stock	0
Share-based compensation expense	0	0
Shares purchased and retired	(1,764)
Balance	152,740	151,080
Accumulated Other Comprehensive Loss [Member]
Balance	(21,572)	(17,859)
Net earnings	0	0
Foreign currency translation adjustments	130	(85)
Pension liability adjustment, net of tax	108	118
Cash dividends declared	0	0
Cash dividends paid to noncontrolling interest		0
Stock options exercised	0	0
Restricted stock forfeited		0
Issuance of restricted stock	0
Share-based compensation expense	0	0
Shares purchased and retired	0
Balance	$ (21,334)	(17,826)
Noncontrolling Interest [Member]
Balance		7,122
Net earnings		(171)
Foreign currency translation adjustments		(34)
Pension liability adjustment, net of tax		0
Cash dividends declared		0
Cash dividends paid to noncontrolling interest		(88)
Stock options exercised		0
Restricted stock forfeited		0
Share-based compensation expense		0
Balance		$ 6,829