Circor International (CIR) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 03, 2016	Apr. 25, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	CIRCOR INTERNATIONAL INC
Entity Central Index Key	1,091,883
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 3, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		16,421,011

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 66,580	$ 54,541
Trade accounts receivable, less allowance for doubtful accounts of $7,628 and $8,290, respectively	117,569	125,628
Inventories	170,100	177,840
Prepaid expenses and other current assets	21,303	16,441
Total Current Assets	375,552	374,450
PROPERTY, PLANT AND EQUIPMENT, NET	86,089	87,029
OTHER ASSETS:
Goodwill	118,170	115,452
Intangibles, net	47,520	48,981
Deferred income taxes	36,483	36,799
Other assets	7,283	7,204
TOTAL ASSETS	671,097	669,915
CURRENT LIABILITIES:
Accounts payable	55,726	64,284
Accrued expenses and other current liabilities	43,081	52,878
Accrued compensation and benefits	17,173	18,424
Income taxes payable	8,406	6,585
Total Current Liabilities	124,386	142,171
LONG-TERM DEBT, NET OF CURRENT PORTION	97,800	90,500
DEFERRED INCOME TAXES	10,168	10,424
OTHER NON-CURRENT LIABILITIES	24,636	26,043
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 29,000,000 shares authorized; 16,411,034 and 16,364,299 shares issued and outstanding at April 3, 2016 and December 31, 2015, respectively	177	177
Additional paid-in capital	285,410	283,621
Retained earnings	261,186	257,939
Common treasury stock, at cost (1,381,784 shares at April 3, 2016 and December 31, 2015)	(74,972)	(74,972)
Accumulated other comprehensive loss, net of tax	(57,694)	(65,988)
Total Shareholders’ Equity	414,107	400,777
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 671,097	$ 669,915

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Trade accounts receivable, allowance for doubtful accounts	$ 7,628	$ 8,290
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	29,000,000	29,000,000
Common Stock, Shares, Issued	16,411,034	17,681,955
Common Stock, Shares, Outstanding	16,411,034	17,681,955

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Net revenues	$ 150,798	$ 165,860
Cost of revenues	105,565	113,211
GROSS PROFIT	45,233	52,649
Selling, general and administrative expenses	37,799	38,808
Loss on write down of property, plant and equipment	1,489	0
Special charges, net	1,939	1,511
OPERATING INCOME	5,495	12,331
Other expense (income):
Interest expense, net	631	641
Other income, net	(528)	(506)
TOTAL OTHER EXPENSE, NET	103	135
INCOME BEFORE INCOME TAXES	5,392	12,196
Provision for income taxes	1,520	3,284
NET INCOME	$ 3,872	$ 8,913
Earnings per common share:
Basic	$ 0.24	$ 0.50
Diluted	$ 0.23	$ 0.50
Weighted average number of common shares outstanding:
Basic	16,381	17,662
Diluted	16,481	17,712
Dividends paid per common share	$ 0.0375	$ 0.0375

Statements Of Consolidated Comp

Statements Of Consolidated Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 3,872	$ 8,913
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	8,294	(25,779)
Other comprehensive income (loss)	8,294	(25,779)
COMPREHENSIVE INCOME (LOSS)	$ 12,166	$ (16,866)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
OPERATING ACTIVITIES
Net income	$ 3,872	$ 8,913
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	3,263	3,521
Amortization	2,529	710
Bad debt (recovery) expense	(848)	312
Loss on write down of inventory	2,525	510
Compensation expense of share-based plans	1,538	2,222
Tax effect of share-based plan compensation	92	(289)
Loss on sale of property, plant and equipment	14	46
Loss on write down of property, plant and equipment	1,489	0
Gain on sale of business	0	(972)
Changes in operating assets and liabilities, net of effects of acquisition and disposition:
Trade accounts receivable	11,089	6,694
Inventories	8,486	(19,207)
Prepaid expenses and other assets	(4,287)	(3,431)
Accounts payable, accrued expenses and other liabilities	(22,108)	(18,224)
Net cash provided by (used in) operating activities	7,654	(19,195)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(4,021)	(2,610)
Proceeds from the sale of property, plant and equipment	87	0
Proceeds from the sale of affiliate	0	2,759
Net cash (used in) provided by investing activities	(3,934)	149
FINANCING ACTIVITIES
Proceeds from long-term debt	35,139	46,903
Payments of long-term debt	(27,871)	(21,540)
Dividends paid	(625)	(672)
Proceeds from the exercise of stock options	111	38
Tax effect of share-based plan compensation	(92)	289
Purchases of common stock	0	(13,291)
Net cash provided by financing activities	6,662	11,727
Effect of exchange rate changes on cash and cash equivalents	1,657	(10,081)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	12,039	(17,400)
Cash and cash equivalents at beginning of period	54,541	121,286
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 66,580	$ 103,886

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Apr. 03, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation The accompanying unaudited, condensed consolidated financial statements have been prepared according to the rules and regulations of the United States (the "U.S.") Securities and Exchange Commission (“SEC”) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows of CIRCOR International, Inc. (“CIRCOR”, the “Company”, “us”, “we” or “our”) for the periods presented. We prepare our interim financial information using the same accounting principles we use for our annual audited consolidated financial statements. Certain information and note disclosures normally included in the annual audited consolidated financial statements have been condensed or omitted in accordance with prescribed SEC rules. We believe that the disclosures made in our condensed consolidated financial statements and the accompanying notes are adequate to make the information presented not misleading. The consolidated balance sheet at December 31, 2015 is as reported in our audited consolidated financial statements as of that date. Our accounting policies are described in the notes to our December 31, 2015 consolidated financial statements, which were included in our Annual Report filed on Form 10-K for the year ended December 31, 2015. We recommend that the financial statements included in our Quarterly Report on Form 10-Q be read in conjunction with the consolidated financial statements and notes included in our Annual Report filed on Form 10-K for the year ended December 31, 2015 . We operate and report financial information using a 52-week fiscal year ending December 31. The data periods contained within our Quarterly Reports on Form 10-Q reflect the results of operations for the 13-week, 26-week and 39-week periods which generally end on the Sunday nearest the calendar quarter-end date. Operating results for the three months ended April 3, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . The Company recorded additions to property, plant and equipment for which cash payments had not yet been made of $ 1.0 million and $0.5 million in the three months ended April 3, 2016 and April 5, 2015 , respectively. Revision of Prior Period Financial Statements In the third quarter of fiscal 2015, the Company identified prior period errors related to the Company’s consolidated financial statements related to the Brazil operations for the fiscal quarter ended April 5, 2015. Specifically, the Company determined that accounts receivable and certain taxes (primarily the Value Added Tax Recoverable) related to the Company’s Brazil operations were not properly stated. The Company’s correction of these errors resulted in a decrease in Net Income from $9.6 million to $8.9 million and in Operating Income from $13.1 million to $12.3 million for the three months ended April 5, 2015. In addition, during the same period, the Company identified that it incorrectly classified certain items on the statement of cash flows for the quarter ended April 5, 2015. This resulted in overstating operating cash flows, overstating investing cash flows, and understating financing cash flows by $2.8 million , $0.6 million , and $3.4 million , respectively. The Company has corrected these errors within the financial information for the fiscal quarter ended April 5, 2015. The following table details the impact of the revision on the Company’s condensed consolidated balance sheet as of April 5, 2015 (in thousands): April 5, 2015 As Reported Adjustments Revised Trade accounts receivable, less allowance for doubtful accounts $ 140,752 $ 474 $ 141,226 Prepaid expenses and other current assets 21,731 (1,356 ) 20,375 Total Current Assets 483,254 (882 ) 482,372 TOTAL ASSETS 688,691 (882 ) 687,809 Accrued expenses and other current liabilities 53,443 (162 ) 53,281 Total Current Liabilities 157,983 (162 ) 157,821 Retained earnings 259,599 (720 ) 258,879 Total Shareholders’ Equity 463,103 (720 ) 462,383 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 688,691 $ (882 ) $ 687,809 The following table details the impact of the revision on the Company’s condensed consolidated statement of operations for the three months ended April 5, 2015 (in thousands, except per share data): Three months ended April 5, 2015 As Reported Adjustments Revised Selling, general and administrative expenses $ 38,088 $ 720 $ 38,808 OPERATING INCOME 13,050 (720 ) 12,331 INCOME BEFORE INCOME TAXES 12,916 (720 ) 12,196 NET INCOME $ 9,632 $ (720 ) $ 8,913 Earnings per common share: Basic $ 0.55 $ (0.05 ) $ 0.50 Diluted $ 0.54 $ (0.04 ) $ 0.50 The following table details the impact of the revision on the Company’s condensed consolidated statement of comprehensive (loss) income for the three months ended April 5, 2015 (in thousands): Three months ended April 5, 2015 As Reported Adjustments Revised Net income $ 9,632 $ (720 ) $ 8,913 COMPREHENSIVE INCOME (LOSS) $ (16,147 ) $ (720 ) $ (16,866 ) The following table details the impact of the revision on the Company’s condensed consolidated statement of cash flows for the three months ended April 5, 2015 (in thousands): Three Months Ended April 5, 2015 As Reported Adjustments Revised OPERATING ACTIVITIES Net income $ 9,632 $ (720 ) $ 8,913 Changes in operating assets and liabilities: Trade accounts receivable, net 7,480 (474 ) 7,006 Prepaid expenses and other assets (4,787 ) 1,356 (3,431 ) Accounts payable, accrued expenses and other liabilities (15,298 ) (2,926 ) (18,224 ) Net cash used in operating activities $ (16,432 ) $ (2,764 ) $ (19,195 ) INVESTING ACTIVITIES Purchases of property, plant and equipment (1,983 ) (627 ) (2,610 ) Net cash provided by investing activities 776 (627 ) 149 FINANCING ACTIVITIES Purchases of common stock (16,682 ) 3,391 (13,291 ) Net cash provided by financing activities 8,336 3,391 11,727

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Apr. 03, 2016
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies The significant accounting policies used in preparation of these condensed consolidated financial statements for the three months ended April 3, 2016 are consistent with those discussed in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2015 . In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-02, Leases. ASU 2016-02 outlines a model of enhanced transparency for lessees by recognizing lease-related assets and liabilities on the balance sheet. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. We are currently evaluating the requirements of ASU 2016-02 and have not yet determined its impact on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, as part of its Simplification Initiative. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early application is permitted for all entities. We are currently evaluating the requirements of ASU 2016-09 and have not yet determined its impact on our consolidated financial statements.

Inventories

Inventories	3 Months Ended
	Apr. 03, 2016
Inventory, Net [Abstract]
Inventories	Inventories Inventories consist of the following (in thousands): April 3, 2016 December 31, 2015 Raw materials $ 50,554 $ 51,439 Work in process 79,570 83,324 Finished goods 39,976 43,077 Total inventories $ 170,100 $ 177,840

Business Acquisitions

Business Acquisitions	3 Months Ended
	Apr. 03, 2016
Business Combinations [Abstract]
Business Acquisitions	Business Acquisition On April 15, 2015, we acquired all of the outstanding equity interest of Germany-based Schroedahl GMBH ("Schroedahl"), a privately-owned manufacturer of safety and control valves primarily serving the power generation market. Founded in 1962 with customers in Asia, Europe and the Americas, Schroedahl designs and manufactures custom-engineered high-pressure auto-recirculation and control valves primarily for pump protection applications. We acquired Schroedahl for an aggregate purchase price of $79.7 million in cash, net of acquired cash. We acquired Schroedahl to further increase our penetration into the power generation market. The operating results of Schroedahl have been included in our consolidated financial statements from the date of acquisition reported within the Energy segment. Acquisition-related costs of $0.4 million primarily consisted of legal and financial advisory services and were expensed as incurred in general and administrative expenses during the three months ended April 5, 2015. We financed the acquisition of Schroedahl through cash on hand and net borrowings of approximately $23.8 million under our existing credit facility. The purchase price allocation is based upon a valuation of assets and liabilities that was prepared with assistance from a third party valuation specialist. The purchase accounting was finalized during the first quarter of fiscal 2016. The assets and liabilities include the valuation of acquired intangible assets, certain operating liabilities, and the evaluation of deferred income taxes. The following table summarizes the fair value of the assets acquired and the liabilities assumed, at the date of acquisition: (in thousands) Cash and cash equivalents $ 36,316 Other current assets 11,470 Property, plant and equipment 1,999 Intangible assets 32,829 Current liabilities (5,452 ) Deferred tax liability (7,285 ) Other non-current liabilities (642 ) Total identifiable net assets 69,034 Goodwill 46,818 Total purchase price $ 116,053 The fair value of accounts receivable acquired approximates the contractual value of $4.3 million . The goodwill recognized is attributable primarily to projected future profitable growth, market penetration, as well as an expanded customer base for the Energy segment. The goodwill arising from the acquisition that is deductible for income tax purposes is $13.2 million . The Schroedahl acquisition resulted in the identification of the following identifiable intangible assets: Intangible assets acquired (in thousands) Weighted average amortization period (in years) Customer relationships $ 22,185 7 Order backlog 3,993 1 Acquired technology 2,260 10 Trade name 4,391 Indefinite Total intangible assets $ 32,829 The fair value of the intangible assets was based on variations of the income approach, which estimates fair value based on the present value of cash flows that the assets are expected to generate which included the relief-from-royalty method, incremental cash flow method, multi-period excess earnings method and direct cash flow method, depending on the intangible asset being valued. Customer relationships, order backlog, and acquired technology are amortized on a cash flow basis. The trade name was assigned an indefinite life based on the Company’s intention to keep the Schroedahl name for an indefinite period of time. Refer to Note 5 for future expected amortization to be recorded. Schroedahl's results for the three months ended April 3, 2016 include $6.1 million of net revenue, and $0.3 million of operating income, respectively. Operating income includes $0.6 million of intangible amortization. Pro forma results of operations for the acquisition have not been presented because the effects of the acquisition are not material to the Company's consolidated financial results.

Goodwill And Intangible Assets

Goodwill And Intangible Assets	3 Months Ended
	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill And Intangible Assets	Goodwill and Intangibles, net The following table shows goodwill by segment as of April 3, 2016 (in thousands): Energy Aerospace & Defense Consolidated Total Goodwill as of December 31, 2015 $ 93,175 $ 22,277 $ 115,452 Adjustments to preliminary purchase price allocation 196 — 196 Currency translation adjustments 2,464 58 2,522 Goodwill as of April 3, 2016 $ 95,835 $ 22,335 $ 118,170 The table below presents gross intangible assets and the related accumulated amortization as of April 3, 2016 (in thousands): Gross Carrying Amount Accumulated Amortization Patents $ 6,042 $ (5,779 ) Non-amortized intangibles (primarily trademarks and trade names) 15,582 — Customer relationships 53,982 (25,783 ) Order backlog 5,279 (4,607 ) Acquired technology 2,419 (575 ) Other 5,570 (4,610 ) Total $ 88,874 $ (41,354 ) Net carrying value of intangible assets $ 47,520 The table below presents estimated remaining amortization expense for intangible assets recorded as of April 3, 2016 (in thousands): 2016 2017 2018 2019 2020 After 2020 Estimated amortization expense $ 7,593 $ 8,064 $ 6,252 $ 4,603 $ 2,951 $ 2,475

Segment Information

Segment Information	3 Months Ended
	Apr. 03, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The following table presents certain reportable segment information (in thousands): Energy Aerospace & Defense Corporate / Eliminations Consolidated Total Three Months Ended April 3, 2016 Net revenues $ 112,620 $ 38,178 $ — $ 150,798 Inter-segment revenues 194 47 (241 ) — Operating income (loss) 9,903 2,082 (6,490 ) 5,495 Interest expense, net 631 Other income, net (528 ) Income before income taxes $ 5,392 Identifiable assets 724,540 186,681 (240,124 ) 671,097 Capital expenditures 2,068 1,076 106 3,250 Depreciation and amortization 4,106 1,361 325 5,792 Three Months Ended April 5, 2015 Net revenues $ 127,586 $ 38,274 $ — $ 165,860 Inter-segment revenues 250 82 (332 ) — Operating income (loss) 15,932 2,852 (6,454 ) 12,331 Interest expense, net 641 Other income, net (506 ) Income before income taxes $ 12,196 Identifiable assets 592,145 189,850 (94,186 ) 687,809 Capital expenditures 1,316 475 192 1,983 Depreciation and amortization 2,432 1,531 268 4,231 Each reporting segment is individually managed and has separate financial results that are reviewed by our chief operating decision-maker. Each segment contains related products and services particular to that segment. In calculating operating income for each reporting segment, certain administrative expenses incurred at the corporate level for the benefit of other reporting segments were allocated to the segments based upon specific identification of costs, employment related information or net revenues. Corporate / Eliminations are reported on a net “after allocations” basis. Inter-segment intercompany transactions affecting net operating profit have been eliminated within the respective operating segments. The operating loss reported in the Corporate / Eliminations column in the preceding table consists primarily of the following corporate expenses: compensation and fringe benefit costs for executive management and other corporate staff; Board of Director compensation; corporate development costs (relating to mergers and acquisitions); human resource development and benefit plan administration expenses; legal, accounting and other professional and consulting fees; facilities, equipment and maintenance costs; and travel and various other administrative costs. The above costs are incurred in the course of furthering the business prospects of the Company and relate to activities such as: implementing strategic business growth opportunities; corporate governance; risk management; treasury; investor relations and shareholder services; regulatory compliance; and stock transfer agent costs. The total assets for each operating segment have been reported as the Identifiable Assets for that segment, including inter-segment intercompany receivables, payables and investments in other CIRCOR businesses. Identifiable assets reported in Corporate / Eliminations include both corporate assets, such as cash, deferred taxes, prepaid and other assets, fixed assets, as well as the elimination of all inter-segment intercompany assets. The elimination of intercompany assets results in negative amounts reported in Corporate / Eliminations for Identifiable Assets as of April 3, 2016 and April 5, 2015 . Corporate Identifiable Assets after elimination of intercompany assets were $41.1 million and $39.7 million as of April 3, 2016 and April 5, 2015 , respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Apr. 03, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share ("EPS") (in thousands, except per share amounts) Three Months Ended April 3, 2016 April 5, 2015 Net Income Shares Per Share Amount Net Income Shares Per Share Amount Basic EPS $ 3,872 16,381 $ 0.24 $ 8,913 17,662 $ 0.50 Dilutive securities, common stock options — 100 (0.01 ) — 50 — Diluted EPS $ 3,872 16,481 $ 0.23 $ 8,913 17,712 $ 0.50 Stock options, Restricted Stock Unit Awards (“RSU Awards”) and Restricted Stock Unit Management Stock Plans ("RSU MSPs") covering 511,220 and 362,261 shares of common stock, for the three months ended April 3, 2016 and April 5, 2015 , respectively, were not included in the computation of diluted EPS because their effect would be anti-dilutive.

Financial Instruments

Financial Instruments	3 Months Ended
	Apr. 03, 2016
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Fair Value The carrying amounts of cash and cash equivalents, trade receivables and trade payables approximate fair value because of the short maturity of these financial instruments. Cash equivalents are carried at cost which approximates fair value at the balance sheet date and is a Level 1 financial instrument. As of April 3, 2016 and December 31, 2015, the outstanding balance of the Company’s debt approximated its fair value based on current rates available to the Company for debt of the same maturity and is a Level 2 financial instrument. Foreign Currency Exchange Risk The Company is exposed to certain risks relating to its ongoing business operations including foreign currency exchange rate risk and interest rate risk. The Company currently uses derivative instruments to manage foreign currency risk on certain business transactions denominated in foreign currencies. To the extent the underlying transactions hedged are completed, these forward contracts do not subject us to significant risk from exchange rate movements because they offset gains and losses on the related foreign currency denominated transactions. These forward contracts do not qualify as hedging instruments and, therefore, do not qualify for fair value or cash flow hedge treatment. Any gains and losses on our contracts are recognized as a component of other expense in our condensed consolidated statements of income. As of April 3, 2016 , we had eleven forward contracts: eight U.S. Dollar/Euro contracts with a notional amount of $26.9 million and three Brazilian Real/Euro contracts with a notional amount of less than $0.1 million . This compares to thirteen forward contracts as of December 31, 2015 . The fair value asset of the derivative forward contracts as of April 3, 2016 was $0.9 million and was included in prepaid expenses and other current assets on our condensed consolidated balance sheet. This compares to a fair value liability of $0.2 million that was included in accrued expenses and other current liabilities on our consolidated balance sheet as of December 31, 2015 . Our foreign currency forward contracts fall within Level 2 of the fair value hierarchy, in accordance with Accounting Standards Codification (“ASC”) Topic 820. For the three month period ended April 3, 2016 , the unrealized foreign exchange gain associated with these forward contracts was approximately $1.2 million . This compares to an unrealized foreign exchange loss of $0.4 million for the three month period ended April 5, 2015 , respectively.

Guarantees And Indemnification

Guarantees And Indemnification Obligations	3 Months Ended
	Apr. 03, 2016
Guarantees And Indemnification Obligations [Abstract]
Guarantees And Indemnification Obligations	Guarantees and Indemnification Obligations As permitted under Delaware law, we have agreements whereby we indemnify certain of our officers and directors for certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited. However, we have directors’ and officers’ liability insurance policies that insure us with respect to certain events covered under the policies and should enable us to recover a portion of any future amounts paid under the indemnification agreements. We have no liabilities recorded from those agreements as of April 3, 2016. We record provisions for the estimated cost of product warranties, primarily from historical information, at the time product revenue is recognized. We also record provisions with respect to any significant individual warranty issues as they arise. While we engage in extensive product quality programs and processes, our warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure, and supplier warranties on parts delivered to us. Should actual product failure rates, utilization levels, material usage, service delivery costs or supplier warranties on parts differ from our estimates, revisions to the estimated warranty liability would be required. The following table sets forth information related to our product warranty reserves for the three months ended April 3, 2016 (in thousands): Balance beginning December 31, 2015 $ 4,551 Provisions 582 Claims settled (929 ) Currency translation adjustment 97 Balance ending April 3, 2016 $ 4,301 Warranty obligations decreased $0.3 million from $4.6 million as of December 31, 2015 to $4.3 million as of April 3, 2016 , primarily related to higher claims settled within our engineered valves and California businesses ( $0.9 million ), offset in part by our standard provisions during the period of $0.6 million .

Contingencies And Commitments

Contingencies And Commitments	3 Months Ended
	Apr. 03, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies And Commitments	Contingencies and Commitments We are currently involved in various legal claims and legal proceedings, some of which may involve substantial dollar amounts. Periodically, we review the status of each significant matter and assess our potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be estimated, we accrue a liability for the estimated loss. Significant judgment is required in both the determination of probability and the determination as to whether an exposure can be reasonably estimated. Because of uncertainties related to these matters, accruals are based on the best information available at the time. As additional information becomes available, we reassess the potential liability related to our pending claims and litigation and may revise our estimates. Such revisions in the estimates of the potential liabilities could have a material adverse effect on our business, results of operations and financial position. Asbestos-related product liability claims continue to be filed against two of our subsidiaries: Spence Engineering Company, Inc. (“Spence”), the stock of which we acquired in 1984; and CIRCOR Instrumentation Technologies, Inc. (f/k/a Hoke, Inc.) (“Hoke”), the stock of which we acquired in 1998. Due to the nature of the products supplied by these entities, the markets they serve and our historical experience in resolving these claims, we do not believe that these asbestos-related claims will have a material adverse effect on the financial condition, results of operations or liquidity of Spence or Hoke, or our financial condition, consolidated results of operations or liquidity of the Company. Standby Letters of Credit We execute standby letters of credit, which include bid bonds and performance bonds, in the normal course of business to ensure our performance or payments to third parties. The aggregate notional value of these instruments was $55.8 million at April 3, 2016 . Our historical experience with these types of instruments has been good and no claims have been paid in the current or past five fiscal years. We believe that the likelihood of demand for a significant payment relating to the outstanding instruments is remote. These instruments generally have expiration dates ranging from less than 1 month to 5 years from April 3, 2016 . The following table contains information related to standby letters of credit instruments outstanding as of April 3, 2016 (in thousands): Term Remaining Maximum Potential Future Payments 0–12 months $ 29,587 Greater than 12 months 26,169 Total $ 55,756

Defined Pension Benefit Plans

Defined Pension Benefit Plans	3 Months Ended
	Apr. 03, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Defined Pension Benefit Plans	Defined Benefit Pension Plans We maintain two benefit pension plans, a qualified noncontributory defined benefit plan and a nonqualified, noncontributory defined benefit supplemental plan that provides benefits to certain retired highly compensated officers and employees. To date, the supplemental plan remains an unfunded plan. These plans include significant pension benefit obligations which are calculated based on actuarial valuations. Key assumptions are made in determining these obligations and related expenses, including expected rates of return on plan assets and discount rates. Benefits are based primarily on years of service and employees’ compensation. As of July 1, 2006, in connection with a revision to our retirement plan, we froze the pension benefits of our qualified noncontributory plan participants. Under the revised plan, such participants generally do not accrue any additional benefits under the defined benefit plan after July 1, 2006. During the three months ended April 3, 2016 , we made a cash contribution of $0.4 million to our qualified defined benefit pension plan. Additionally, substantially all of our U.S. employees are eligible to participate in a 401(k) savings plan. Under this plan, we make a core contribution and match a specified percentage of employee contributions, subject to certain limitations. The components of net periodic cost (benefit) of defined benefit pension plans are as follows (in thousands): Three Months Ended April 3, April 5, Interest cost on benefits obligation $ 574 $ 548 Estimated return on assets (664 ) (723 ) Loss amortization 226 210 Net periodic cost of defined benefit pension plans $ 136 $ 35

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As of April 3, 2016 and December 31, 2015 , we had $3.0 million and $2.9 million of unrecognized tax benefits, respectively, of which $2.6 million and $2.7 million , respectively, would affect our effective tax rate if recognized in any future period. The Company files income tax returns in the U.S. federal, state and local jurisdictions and in foreign jurisdictions. The Company is no longer subject to examination by the Internal Revenue Service (the "IRS") for years prior to 2012 and is no longer subject to examination by the tax authorities in foreign and state jurisdictions prior to 2006 . The Company is currently under examination for income tax filings in various foreign jurisdictions. The Company has a net U.S. domestic deferred income tax asset and a net foreign deferred tax liability. Due to uncertainties related to our ability to utilize certain of these U.S. domestic deferred income tax assets, primarily consisting of state net operating losses and state tax credits carried forward, we maintained a total valuation allowance of $0.9 million at April 3, 2016 and December 31, 2015 . The valuation allowance is based on estimates of income in each of the jurisdictions in which we operate and the period over which our deferred tax assets will be recoverable. If future results of operations exceed our current expectations, our existing tax valuation allowances may be adjusted, resulting in future tax benefits. Alternatively, if future results of operations are less than expected, future assessments may result in a determination that some or all of the deferred tax assets are not realizable. Consequently, we may need to establish additional tax valuation allowances for all or a portion of the deferred tax assets, which may have a material adverse effect on our business, results of operations and financial condition. The Company has had a history of domestic and foreign income, is able to avail itself of federal tax carryback provisions, has future taxable temporary differences and projects future domestic and foreign income. We believe that after considering all of the available objective evidence, it is more likely than not that the results of future operations will generate sufficient income to realize the remaining net deferred income tax asset.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 03, 2016
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation As of April 3, 2016 , we have two share-based compensation plans. The 2014 Stock Option and Incentive Plan (the "2014 Plan") was adopted by our Board of Directors on February 12, 2014 and approved by our shareholders at the Company's annual meeting held on April 30, 2014. As of April 30, 2014, no new awards may be granted under the existing Amended and Restated 1999 Stock Option and Incentive Plan (the “1999 Plan”). As a result, any shares subject to outstanding awards under the 1999 Plan that expire, are canceled or otherwise terminate, or are withheld to satisfy tax withholding obligations will not be available for award grant purposes under the 2014 Plan. Both plans permit the grant of the following types of awards to our officers, other employees and non-employee directors: incentive stock options; non-qualified stock options; deferred stock awards; restricted stock awards; unrestricted stock awards; performance share awards; cash-based awards; stock appreciation rights ("SARs") and dividend equivalent rights. The 2014 Plan provides for the issuance of up to 1,700,000 shares of common stock (subject to adjustment for stock splits and similar events). Under the 2014 Plan, shares issued for awards other than stock options or SARs count against the aggregate share limit as 1.9 shares for every share actually issued. New options granted under the 2014 Plan could have varying vesting provisions and exercise periods. Options previously granted under the 1999 Plan vest in periods ranging from one year to five years and expire either seven years or ten years after the grant date. Restricted stock units granted under the 1999 Plan generally vest within three years . Vested restricted stock units will be settled in shares of our common stock. As of April 3, 2016 , there were 771,388 stock options (including the Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") stock option awards noted below) and 234,310 restricted stock units outstanding. In addition, there were 1,013,423 shares available for grant under the 2014 Plan as of April 3, 2016 . The Black-Scholes option pricing model was used to estimate the fair value of each stock option grant at the date of grant excluding the 2013 and 2014 CEO and CFO stock option awards which were valued using the Monte Carlo option pricing model. Black-Scholes utilizes assumptions related to volatility, the risk-free interest rate, the dividend yield and employee exercise behavior. Expected volatility utilized in the model are based on the historic volatility of the Company’s stock price at the date of the grant. The risk-free interest rate is derived from the U.S. Treasury Yield curve in effect at the time of the grant. During the three months ended April 3, 2016 , we granted 210,633 stock options compared with 118,992 stock options granted during the three months ended April 5, 2015 . The average fair value of stock options granted during the first three months of 2016 and 2015 was $11.91 and $17.88 , respectively, and was estimated using the following weighted-average assumptions: 2016 2015 Risk-free interest rate 1.2 % 1.4 % Expected life (years) 4.5 4.5 Expected stock volatility 36.2 % 40.4 % Expected dividend yield 0.4 % 0.3 % For additional information regarding the historical issuance of stock options including awards to our CEO and CFO, refer to our Form 10-K for the year ended December 31, 2015 filed on February 23, 2016. We account for RSU Awards by expensing the weighted average fair value to selling, general and administrative expenses ratably over vesting periods generally ranging up to three years. During the three months ended April 3, 2016 and April 5, 2015 , we granted 84,578 and 54,702 RSU Awards with approximate fair values of $38.89 and $51.92 per RSU Award, respectively. During the first three months of 2016 and 2015 , we granted performance-based RSUs as part of the overall mix of RSU Awards. These performance-based RSUs include metrics for achieving Return on Invested Capital and Adjusted Operating Margin with target payouts ranging from 0% to 200% . Of the 84,578 RSUs granted during the three months ended April 3, 2016 , 43,016 are performance-based RSU awards. This compares to 26,094 performance-based RSU awards granted during the three months ended April 5, 2015 . The CIRCOR Management Stock Purchase Plan, which is a component of both the 2014 Plan and the 1999 Plan, provides that eligible employees may elect to receive restricted stock units in lieu of all or a portion of their pre-tax annual incentive bonus and, in some cases, make after-tax contributions in exchange for RSU MSPs. In addition, non-employee directors may elect to receive restricted stock units in lieu of all or a portion of their annual directors’ fees. Each RSU MSP represents a right to receive one share of our common stock after a three year vesting period. RSU MSPs are granted at a discount of 33% from the fair market value of the shares of common stock on the date of grant. This discount is amortized as compensation expense, to selling, general and administrative expenses, over a four year period. RSU MSPs totaling 20,130 and 38,965 with per unit discount amounts representing fair values of $12.83 and $17.11 were granted under the CIRCOR Management Stock Purchase Plan during the three months ended April 3, 2016 and April 5, 2015 , respectively. Compensation expense related to our share-based plans for the three month periods ended April 3, 2016 and April 5, 2015 was $1.5 million and $2.2 million , respectively. For the three month period ended April 3, 2016 , $1.5 million of compensation expense was recorded as selling, general and administrative expenses. For the three month period ended April 5, 2015 , $1.8 million was recorded as selling, general and administrative expense and $0.4 million was recorded as a special charge related to the retirement of one of our executive officers. As of April 3, 2016 , there was $11.2 million of total unrecognized compensation costs related to our outstanding share-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.2 years. The weighted average contractual term for stock options outstanding and options exercisable as of April 3, 2016 was 6.8 years and 6.1 years, respectively. The aggregate intrinsic value of stock options exercised during the three months ended April 3, 2016 was less than $0.1 million and the aggregate intrinsic value of stock options outstanding and options exercisable as of April 3, 2016 was $3.4 million and $1.2 million , respectively. The aggregate intrinsic value of RSU Awards settled during the three months ended April 3, 2016 was $1.4 million and the aggregate intrinsic value of RSU Awards outstanding and RSU Awards vested and deferred as of April 3, 2016 was $7.5 million and less than $0.1 million , respectively. The aggregate intrinsic value of RSU MSPs settled during the three months ended April 3, 2016 was $0.2 million and the aggregate intrinsic value of RSU MSPs outstanding and RSU MSPs vested and deferred as of April 3, 2016 was $0.9 million and less than $0.1 million , respectively. We also grant Cash Settled Stock Unit Awards to certain international employee participants. These Cash Settled Stock Unit Awards typically cliff-vest in three years and are settled in cash based on the Company's closing stock price at the time of vesting. As of April 3, 2016 , there were 34,128 Cash Settled Stock Unit Awards outstanding compared to 28,660 as of December 31, 2015. During the three months ended April 3, 2016 , the aggregate cash used to settle Cash Settled Stock Unit Awards was $0.4 million . As of April 3, 2016 , we had $0.5 million of accrued expenses in current liabilities associated with these Cash Settled Stock Unit Awards compared with $0.7 million as of December 31, 2015. Cash Settled Stock Unit Awards related compensation costs for the three month periods ended April 3, 2016 and April 5, 2015 was $0.2 million and $0.2 million , respectively, and was recorded as selling, general, and administrative expense.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, net of tax, which is reported as a component of shareholder's equity, for the three months ended April 3, 2016 (in thousands): Foreign Currency Translation Adjustments Pension, net Total Balance as of December 31, 2015 $ (36,725 ) $ (29,263 ) $ (65,988 ) Other comprehensive income, net of tax 8,294 — 8,294 Balance as of April 3, 2016 $ (28,431 ) $ (29,263 ) $ (57,694 ) Amounts reclassified from accumulated other comprehensive loss, net of tax, to net income were immaterial for the three months ended April 3, 2016 .

Special Charges_Recoveries

Special Charges/Recoveries	3 Months Ended
	Apr. 03, 2016
Restructuring and Related Activities [Abstract]
Special Charges/Recoveries	Special Charges, net General Background The nature of Special Charges, net include restructuring costs, costs to exit a product line or program, litigation settlements and other special charges or gains that are generally not reflective of our on-going operational results. On November 3, 2015, the Board of Directors approved the closure and exit of our Brazil manufacturing operations ("Brazil Closure") due to the economic realities in Brazil and the ongoing challenges with our only significant end customer, Petrobras. CIRCOR Brazil has reported substantial operating losses every year since it was acquired in 2011 while the underlying market conditions and outlook have deteriorated. In connection with the closure, we recorded $0.9 million in special charges within the Energy Segment during the three months ended April 3, 2016 which primarily related to employee termination costs. As of April 3, 2016 , our remaining Brazil assets were $4.8 million of which $1.1 million relates to net third party accounts receivables, $0.9 million relates to net property, plant & equipment, $0.7 million relates to cash, and $0.6 million relates to inventory. In July 2015, we announced the closure of one of the two Corona, California manufacturing facilities ("California Restructuring"). Under this restructuring, we are reducing certain general, manufacturing and facility related expenses. On April 15, 2015, we acquired Germany-based Schroedahl, a privately-owned manufacturer of safety and control valves primarily in the power generation market. In connection with our acquisition of Schroedahl, we recorded certain acquisition related professional fees ("Acquisition related charges") as special charges. On February 18, 2015, we announced additional restructuring actions ("2015 Announced Restructurings"), under which we continued to simplify our businesses. Under this restructuring, we reduced certain general, administrative and manufacturing related expenses primarily personnel related. Charges with this action were finalized in the fourth quarter of 2015. Refer to Note 4, "Special Charges, net" of our Annual Report filed on Form 10-K for the year ended December 31, 2015 for further details regarding these charges. During the first quarter of 2015, we recorded special charges of $0.4 million associated with the retirement of our Energy President ("Executive retirement charges"). These charges primarily related to equity award modification charges. On January 6, 2015 we announced the divestiture of two of our non-core businesses ("Divestitures") as part of our simplification strategy. During the fourth quarter of 2014, we recorded $3.4 million of special charges associated with losses related to these divestitures. The Energy divestiture was substantially completed in the fourth quarter of 2014. During the first quarter of 2015, the Aerospace & Defense divestiture was substantially completed and we recorded a special gain of $1.0 million . On April 22, 2014, we announced additional restructuring actions ("2014 Announced Restructurings"), under which we continued to simplify our businesses. Under this restructuring, we reduced certain general and administrative expenses, including the reduction of certain management layers, and closing a number of smaller facilities. The savings from these restructuring actions were utilized for growth investments. Charges with this action were finalized in the second quarter of 2015. Refer to Note 4, "Special Charges, net" of our Annual Report filed on Form 10-K for the year ended December 31, 2015 for further details regarding these charges. The special charges described above are recorded in the special charges, net caption on our condensed consolidated statements of income. Inventory Restructuring During the first quarter of 2016, we recorded restructuring related inventory charges of $ 1.9 million associated with the closure of manufacturing operations and the exit of the gate, globe and check valves product line in Brazil. As of April 3, 2016 , our remaining Brazil inventory balance is $0.6 million which we believe is recoverable based upon our net realizable value calculations. During the first quarter of 2016, in connection with the restructuring of certain structural landing gear product lines, we recorded inventory related charges of less than $0.1 million within the Aerospace & Defense segment. As of April 3, 2016 , our remaining structural landing gear product line inventory balance is $1.9 million which we believe is recoverable based upon our net realizable value analysis. The inventory restructuring charges described above are recorded in the cost of revenues caption on our condensed consolidated statement of income. Q1 2016 The tables below (in thousands) show the non-inventory restructuring related and special charges, net of recoveries, for the quarter ending April 3, 2016 : Special Charges / (Recoveries) As of and for the quarter ended April 3, 2016 Energy Aerospace & Defense Corporate Total Facility related expenses (recoveries) $ (376 ) $ 1,400 $ — $ 1,024 Employee related expenses 98 41 — 139 Total restructuring charges, net $ (278 ) $ 1,441 $ — $ 1,163 Acquisition related recoveries (113 ) — — (113 ) Brazil Closure 887 — 2 889 Total special charges, net $ 496 $ 1,441 $ 2 $ 1,939 Accrued special and restructuring charges as of December 31, 2015 $ 4,664 Total quarterly special charges, net (shown above) 1,939 Special charges paid / settled, net (3,139 ) Accrued special and restructuring charges as of April 3, 2016 $ 3,464 The restructuring charges incurred to date that remain as of April 3, 2016 relate to Brazil closure charges recorded in 2015 for supplier cancellation penalties for fixed purchase commitments, customer cancellation penalties, and litigation claims that we deem probable of loss. We expect to make payment or settle the majority of the restructuring obligations accrued at April 3, 2016 during the second half of 2016. Q1 2015 The tables below (in thousands) show the non-inventory restructuring related and special charges, net of recoveries, for the quarter ending April 5, 2015: Special Charges / (Recoveries) As of and for the quarter ended April 5, 2015 Energy Aerospace & Defense Corporate Total Facility related expenses $ 19 $ 13 $ — $ 32 Employee related expenses 324 1,156 — 1,480 Total restructuring charges $ 343 $ 1,169 $ — $ 1,512 Divestiture expenses (recoveries) 26 (977 ) — (951 ) Acquisition related charges 530 — — 530 Executive retirement charges — — 420 420 Total special charges, net $ 899 $ 192 $ 420 $ 1,511 Accrued special and restructuring charges as of December 31, 2014 $ 9,133 Total quarterly special charges, net (shown above) 1,511 Special charges paid / settled, net (1,700 ) Accrued special and restructuring charges as of April 5, 2015 $ 8,944 Inception to Date The following table (in thousands) summarizes our California Restructuring related special charges to date as of April 3, 2016 : California Restructuring Charges / (Recoveries), net as of April 3, 2016 Aerospace & Defense Facility related expenses - incurred to date $ 1,400 Employee related expenses - incurred to date 31 Total restructuring related special charges - incurred to date $ 1,431 This restructuring action is expected to be completed in the second half of 2016.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 03, 2016
Inventory, Net [Abstract]
Components Of Inventory	Inventories consist of the following (in thousands): April 3, 2016 December 31, 2015 Raw materials $ 50,554 $ 51,439 Work in process 79,570 83,324 Finished goods 39,976 43,077 Total inventories $ 170,100 $ 177,840

Business Acquisitions (Tables)

Business Acquisitions (Tables)	3 Months Ended
	Apr. 03, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the fair value of the assets acquired and the liabilities assumed, at the date of acquisition: (in thousands) Cash and cash equivalents $ 36,316 Other current assets 11,470 Property, plant and equipment 1,999 Intangible assets 32,829 Current liabilities (5,452 ) Deferred tax liability (7,285 ) Other non-current liabilities (642 ) Total identifiable net assets 69,034 Goodwill 46,818 Total purchase price $ 116,053
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The Schroedahl acquisition resulted in the identification of the following identifiable intangible assets: Intangible assets acquired (in thousands) Weighted average amortization period (in years) Customer relationships $ 22,185 7 Order backlog 3,993 1 Acquired technology 2,260 10 Trade name 4,391 Indefinite Total intangible assets $ 32,829

Goodwill And Intangible Assets

Goodwill And Intangible Assets (Tables)	3 Months Ended
	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, By Segment	The following table shows goodwill by segment as of April 3, 2016 (in thousands): Energy Aerospace & Defense Consolidated Total Goodwill as of December 31, 2015 $ 93,175 $ 22,277 $ 115,452 Adjustments to preliminary purchase price allocation 196 — 196 Currency translation adjustments 2,464 58 2,522 Goodwill as of April 3, 2016 $ 95,835 $ 22,335 $ 118,170
Gross Intangible Assets And Related Accumulated Amortization	The table below presents gross intangible assets and the related accumulated amortization as of April 3, 2016 (in thousands): Gross Carrying Amount Accumulated Amortization Patents $ 6,042 $ (5,779 ) Non-amortized intangibles (primarily trademarks and trade names) 15,582 — Customer relationships 53,982 (25,783 ) Order backlog 5,279 (4,607 ) Acquired technology 2,419 (575 ) Other 5,570 (4,610 ) Total $ 88,874 $ (41,354 ) Net carrying value of intangible assets $ 47,520
Estimated Remaining Amortization Expense For Intangible Assets	The table below presents estimated remaining amortization expense for intangible assets recorded as of April 3, 2016 (in thousands): 2016 2017 2018 2019 2020 After 2020 Estimated amortization expense $ 7,593 $ 8,064 $ 6,252 $ 4,603 $ 2,951 $ 2,475

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 03, 2016
Segment Reporting [Abstract]
Reportable Segment Information	The following table presents certain reportable segment information (in thousands): Energy Aerospace & Defense Corporate / Eliminations Consolidated Total Three Months Ended April 3, 2016 Net revenues $ 112,620 $ 38,178 $ — $ 150,798 Inter-segment revenues 194 47 (241 ) — Operating income (loss) 9,903 2,082 (6,490 ) 5,495 Interest expense, net 631 Other income, net (528 ) Income before income taxes $ 5,392 Identifiable assets 724,540 186,681 (240,124 ) 671,097 Capital expenditures 2,068 1,076 106 3,250 Depreciation and amortization 4,106 1,361 325 5,792 Three Months Ended April 5, 2015 Net revenues $ 127,586 $ 38,274 $ — $ 165,860 Inter-segment revenues 250 82 (332 ) — Operating income (loss) 15,932 2,852 (6,454 ) 12,331 Interest expense, net 641 Other income, net (506 ) Income before income taxes $ 12,196 Identifiable assets 592,145 189,850 (94,186 ) 687,809 Capital expenditures 1,316 475 192 1,983 Depreciation and amortization 2,432 1,531 268 4,231

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Apr. 03, 2016
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share, Basic And Diluted	(in thousands, except per share amounts) Three Months Ended April 3, 2016 April 5, 2015 Net Income Shares Per Share Amount Net Income Shares Per Share Amount Basic EPS $ 3,872 16,381 $ 0.24 $ 8,913 17,662 $ 0.50 Dilutive securities, common stock options — 100 (0.01 ) — 50 — Diluted EPS $ 3,872 16,481 $ 0.23 $ 8,913 17,712 $ 0.50

Guarantees And Indemnificatio27

Guarantees And Indemnification Obligations (Tables)	3 Months Ended
	Apr. 03, 2016
Guarantees And Indemnification Obligations [Abstract]
Product Warranty Reserves	The following table sets forth information related to our product warranty reserves for the three months ended April 3, 2016 (in thousands): Balance beginning December 31, 2015 $ 4,551 Provisions 582 Claims settled (929 ) Currency translation adjustment 97 Balance ending April 3, 2016 $ 4,301 Warranty obligations decreased $0.3 million from $4.6 million as of December 31, 2015 to $4.3 million as of April 3, 2016 , primarily related to higher claims settled within our engineered valves and California businesses ( $0.9 million ), offset in part by our standard provisions during the period of $0.6 million .

Contingencies And Commitments (

Contingencies And Commitments (Tables)	3 Months Ended
	Apr. 03, 2016
Commitments and Contingencies Disclosure [Abstract]
Standby Letters Of Credit Instruments	The following table contains information related to standby letters of credit instruments outstanding as of April 3, 2016 (in thousands): Term Remaining Maximum Potential Future Payments 0–12 months $ 29,587 Greater than 12 months 26,169 Total $ 55,756

Defined Pension Benefit Plans (

Defined Pension Benefit Plans (Tables)	3 Months Ended
	Apr. 03, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Components Of Net Pension Benefit Expense	The components of net periodic cost (benefit) of defined benefit pension plans are as follows (in thousands): Three Months Ended April 3, April 5, Interest cost on benefits obligation $ 574 $ 548 Estimated return on assets (664 ) (723 ) Loss amortization 226 210 Net periodic cost of defined benefit pension plans $ 136 $ 35

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Apr. 03, 2016
Share-based Compensation [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The average fair value of stock options granted during the first three months of 2016 and 2015 was $11.91 and $17.88 , respectively, and was estimated using the following weighted-average assumptions: 2016 2015 Risk-free interest rate 1.2 % 1.4 % Expected life (years) 4.5 4.5 Expected stock volatility 36.2 % 40.4 % Expected dividend yield 0.4 % 0.3 %

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive loss, net of tax, which is reported as a component of shareholder's equity, for the three months ended April 3, 2016 (in thousands): Foreign Currency Translation Adjustments Pension, net Total Balance as of December 31, 2015 $ (36,725 ) $ (29,263 ) $ (65,988 ) Other comprehensive income, net of tax 8,294 — 8,294 Balance as of April 3, 2016 $ (28,431 ) $ (29,263 ) $ (57,694 )

Special Charges_Recoveries (Tab

Special Charges/Recoveries (Tables)	3 Months Ended
	Apr. 03, 2016
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring and Related Costs	Special Charges / (Recoveries) As of and for the quarter ended April 3, 2016 Energy Aerospace & Defense Corporate Total Facility related expenses (recoveries) $ (376 ) $ 1,400 $ — $ 1,024 Employee related expenses 98 41 — 139 Total restructuring charges, net $ (278 ) $ 1,441 $ — $ 1,163 Acquisition related recoveries (113 ) — — (113 ) Brazil Closure 887 — 2 889 Total special charges, net $ 496 $ 1,441 $ 2 $ 1,939 Accrued special and restructuring charges as of December 31, 2015 $ 4,664 Total quarterly special charges, net (shown above) 1,939 Special charges paid / settled, net (3,139 ) Accrued special and restructuring charges as of April 3, 2016 $ 3,464 Special Charges / (Recoveries) As of and for the quarter ended April 5, 2015 Energy Aerospace & Defense Corporate Total Facility related expenses $ 19 $ 13 $ — $ 32 Employee related expenses 324 1,156 — 1,480 Total restructuring charges $ 343 $ 1,169 $ — $ 1,512 Divestiture expenses (recoveries) 26 (977 ) — (951 ) Acquisition related charges 530 — — 530 Executive retirement charges — — 420 420 Total special charges, net $ 899 $ 192 $ 420 $ 1,511 Accrued special and restructuring charges as of December 31, 2014 $ 9,133 Total quarterly special charges, net (shown above) 1,511 Special charges paid / settled, net (1,700 ) Accrued special and restructuring charges as of April 5, 2015 $ 8,944 The following table (in thousands) summarizes our California Restructuring related special charges to date as of April 3, 2016 : California Restructuring Charges / (Recoveries), net as of April 3, 2016 Aerospace & Defense Facility related expenses - incurred to date $ 1,400 Employee related expenses - incurred to date 31 Total restructuring related special charges - incurred to date $ 1,431

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
ERROR in label resolution.	$ 0	$ 500
Net income	3,872	8,913
Operating Income (Loss)	5,495	12,331
Net Cash Provided by (Used in) Operating Activities	7,654	(19,195)
Net Cash Provided by (Used in) Investing Activities	3,934	(149)
Payments for Repurchase of Common Stock	0	13,291
Net Cash Provided by (Used in) Financing Activities	(6,662)	(11,727)
Assets, Current	375,552	482,372	$ 374,450
Assets	671,097	687,809	669,915
Liabilities, Current	124,386	157,821	142,171
Stockholders' Equity Attributable to Parent	414,107	462,383	400,777
Liabilities and Equity	671,097	687,809	669,915
Nonoperating Income (Expense)	103	135
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	5,392	12,196
Earnings Per Share [Abstract]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	12,166	(16,866)
Selling, general and administrative expenses	37,799	38,808
Trade accounts receivable, less allowance for doubtful accounts of $7,628 and $8,290, respectively	117,569	141,226	125,628
Prepaid expenses and other current assets	21,303	20,375	16,441
CURRENT LIABILITIES:
Accrued expenses and other current liabilities	43,081	53,281	52,878
Retained earnings	261,186	258,879	$ 257,939
Interest expense, net	$ 631	$ 641
Basic	$ 0.24	$ 0.50
Diluted	$ 0.23	$ 0.50
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$ 8,294	$ (25,779)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	8,294	(25,779)
Increase (Decrease) in Accounts Receivable		(7,006)
Increase (Decrease) in Prepaid Expense and Other Assets	4,287	3,431
Accounts payable, accrued expenses and other liabilities	(22,108)	(18,224)
INVESTING ACTIVITIES
Payments to Acquire Property, Plant, and Equipment	$ 4,021	2,610
Scenario, Previously Reported [Member]
Net income		9,632
Operating Income (Loss)		13,050
Net Cash Provided by (Used in) Operating Activities		(16,432)
Net Cash Provided by (Used in) Investing Activities		(776)
Payments for Repurchase of Common Stock		16,682
Net Cash Provided by (Used in) Financing Activities		(8,336)
Assets, Current		483,254
Assets		688,691
Liabilities, Current		157,983
Stockholders' Equity Attributable to Parent		463,103
Liabilities and Equity		688,691
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest		12,916
Earnings Per Share [Abstract]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(16,147)
Selling, general and administrative expenses		38,088
Trade accounts receivable, less allowance for doubtful accounts of $7,628 and $8,290, respectively		140,752
Prepaid expenses and other current assets		21,731
CURRENT LIABILITIES:
Accrued expenses and other current liabilities		53,443
Retained earnings		$ 259,599
Basic		$ 0.55
Diluted		$ 0.54
Increase (Decrease) in Accounts Receivable		$ (7,480)
Increase (Decrease) in Prepaid Expense and Other Assets		4,787
Accounts payable, accrued expenses and other liabilities		(15,298)
INVESTING ACTIVITIES
Payments to Acquire Property, Plant, and Equipment		1,983
Restatement Adjustment [Member]
Net income		(720)
Operating Income (Loss)		(720)
Net Cash Provided by (Used in) Operating Activities		(2,764)
Net Cash Provided by (Used in) Investing Activities		627
Payments for Repurchase of Common Stock		(3,391)
Net Cash Provided by (Used in) Financing Activities		(3,391)
Assets, Current		(882)
Assets		(882)
Liabilities, Current		(162)
Stockholders' Equity Attributable to Parent		(720)
Liabilities and Equity		(882)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest		(720)
Earnings Per Share [Abstract]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(720)
Selling, general and administrative expenses		720
Trade accounts receivable, less allowance for doubtful accounts of $7,628 and $8,290, respectively		474
Prepaid expenses and other current assets		(1,356)
CURRENT LIABILITIES:
Accrued expenses and other current liabilities		(162)
Retained earnings		$ (720)
Basic		$ (0.05)
Diluted		$ (0.04)
Increase (Decrease) in Accounts Receivable		$ 474
Increase (Decrease) in Prepaid Expense and Other Assets		(1,356)
Accounts payable, accrued expenses and other liabilities		(2,926)
INVESTING ACTIVITIES
Payments to Acquire Property, Plant, and Equipment		$ 627

Inventories (Components Of Inve

Inventories (Components Of Inventory) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
Inventory, Net [Abstract]
Loss on write down of inventory	$ 2,525	$ 510
Raw materials	50,554		$ 51,439
Work in process	79,570		83,324
Finished goods	39,976		43,077
Inventories	$ 170,100		$ 177,840

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Apr. 03, 2016	Jul. 05, 2015	Dec. 31, 2015	Apr. 15, 2015
Business Acquisition [Line Items]
Goodwill	$ 118,170		$ 115,452
Schroedahl [Member]
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs	$ 13,200	$ 400
Cash and cash equivalents				$ 36,316
Other current assets				11,470
Property, plant and equipment				1,999
Intangible assets				32,829
Current liabilities				(5,452)
Deferred tax liability				(7,285)
Other non-current liabilities				(642)
Total identifiable net assets				69,034
Goodwill				46,818
Total purchase price				$ 116,053

Business Acquisitions - Sched36

Business Acquisitions - Schedule of Intangible Assets Acquired (Details) - Schroedahl [Member] $ in Thousands	Apr. 15, 2015USD ($)
Schedule of Finite and Indefinite-Lived Intangibles Acquired as Part of Business Combination [Line Items]
Intangible assets acquired	$ 32,829
Weighted average amortization period
Customer relationships [Member]
Schedule of Finite and Indefinite-Lived Intangibles Acquired as Part of Business Combination [Line Items]
Intangible assets acquired	$ 22,185
Weighted average amortization period	7 years
Order backlog [Member]
Schedule of Finite and Indefinite-Lived Intangibles Acquired as Part of Business Combination [Line Items]
Intangible assets acquired	$ 3,993
Weighted average amortization period	1 year
Acquired technology [Member]
Schedule of Finite and Indefinite-Lived Intangibles Acquired as Part of Business Combination [Line Items]
Intangible assets acquired	$ 2,260
Weighted average amortization period	10 years
Trade name [Member]
Schedule of Finite and Indefinite-Lived Intangibles Acquired as Part of Business Combination [Line Items]
Indefinite-lived intangible assets acquired	$ 4,391

Business Acquisitions Business

Business Acquisitions Business Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Apr. 15, 2015	Apr. 03, 2016	Apr. 05, 2015	Jul. 05, 2015
Business Acquisition [Line Items]
Net income		$ 3,872	$ 8,913
Schroedahl [Member]
Business Acquisition [Line Items]
Business acquisition, net of cash acquired	$ 79,700
Purchase price	116,053
Acquisition-related costs		13,200		$ 400
Fair value of accounts receivables acquired	4,300
Revenues		6,100
Net income		300
Intangible amortization included in operating income		$ 600
Line of Credit [Member] | Schroedahl [Member]
Business Acquisition [Line Items]
Borrowings under credit facility	$ 23,800

Goodwill And Intangible Asset38

Goodwill And Intangible Assets (Goodwill, By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Jul. 05, 2015
Goodwill [Line Items]
Goodwill as of December 31, 2015	$ 115,452
Goodwill, Impairment Loss		$ 196
Currency translation adjustments	2,522
Goodwill as of April 3, 2016	118,170
Energy [Member]
Goodwill [Line Items]
Goodwill as of December 31, 2015	93,175
Goodwill, Impairment Loss		196
Currency translation adjustments	2,464
Goodwill as of April 3, 2016	95,835
Aerospace [Member]
Goodwill [Line Items]
Goodwill as of December 31, 2015	22,277
Goodwill, Impairment Loss		$ 0
Currency translation adjustments	58
Goodwill as of April 3, 2016	22,335
Schroedahl [Member]
Goodwill [Line Items]
Acquisition-related costs	$ 13,200		$ 400

Goodwill And Intangible Asset39

Goodwill And Intangible Assets (Gross Intangible Assets And Related Accumulated Amortization) (Details) $ in Thousands	Apr. 03, 2016USD ($)
Intangible Assets [Line Items]
Gross Carrying Amount	$ 88,874
Accumulated Amortization	(41,354)
Net carrying value of intangible assets	47,520
Patents [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	6,042
Accumulated Amortization	(5,779)
Non-amortized intangibles (primarily trademarks and trade names) [Member]
Intangible Assets [Line Items]
Accumulated Amortization	0
Non-amortized intangibles	15,582
Customer relationships [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	53,982
Accumulated Amortization	(25,783)
Backlog [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	5,279
Accumulated Amortization	(4,607)
Acquired Technology [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	2,419
Accumulated Amortization	(575)
Other [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	5,570
Accumulated Amortization	$ (4,610)

Goodwill And Intangible Asset40

Goodwill And Intangible Assets (Estimated Remaining Amortization Expense For Intangible Assets) (Details) $ in Thousands	Apr. 03, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 7,593
2,017	8,064
2,018	6,252
2,019	4,603
2,020	2,951
After 2,020	$ 2,475

Segment Information (Reportable

Segment Information (Reportable Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015	Jun. 29, 2014
Segment Reporting Information [Line Items]
Net revenues	$ 150,798	$ 165,860
Operating income (loss)	5,495	12,331
Interest expense	631	641
Other income, net	(528)	(506)
INCOME BEFORE INCOME TAXES	5,392	12,196
Identifiable assets	671,097	687,809	$ 669,915
Capital expenditures	4,021	2,610
Corporate Identifiable Assets After Elimination Of Intercompany Assets [Member]
Segment Reporting Information [Line Items]
Identifiable assets	41,100			$ 39,700
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	150,798	165,860
Inter-segment revenues	0	0
Operating income (loss)	5,495	12,331
Interest expense	631	641
Other income, net	(528)	(506)
INCOME BEFORE INCOME TAXES	5,392	12,196
Identifiable assets	671,097			687,809
Capital expenditures	3,250	1,983
Depreciation and amortization	5,792	4,231
Operating Segments [Member] | Energy [Member]
Segment Reporting Information [Line Items]
Net revenues	112,620	127,586
Inter-segment revenues	194	250
Operating income (loss)	9,903	15,932
Identifiable assets	724,540			592,145
Capital expenditures	2,068	1,316
Depreciation and amortization	4,106	2,432
Operating Segments [Member] | Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	38,178	38,274
Inter-segment revenues	47	82
Operating income (loss)	2,082	2,852
Identifiable assets	186,681			189,850
Capital expenditures	1,076	475
Depreciation and amortization	1,361	1,531
Operating Segments [Member] | Corporate/Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	0	0
Inter-segment revenues	(241)	(332)
Operating income (loss)	(6,490)	(6,454)
Identifiable assets	(240,124)			$ (94,186)
Capital expenditures	106	192
Depreciation and amortization	$ 325	$ 268

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 3,872	$ 8,913
Basic Earnings Per Common Share (EPS), Shares	16,381,000	17,662,000
Basic EPS, Per Share Amount	$ 0.24	$ 0.50
Dilutive securities, common stock options, Shares	100,000	50,000
Dilutive securities, common stock options, Per Share Amount	$ (0.01)	$ 0
Diluted EPS, Shares	16,481,000	17,712,000
Diluted EPS, Per Share Amount	$ 0.23	$ 0.50
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options and RSUs, shares	511,220
RSU Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options and RSUs, shares		362,261

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 03, 2016USD ($)Forward_Contracts	Apr. 05, 2015USD ($)	Dec. 31, 2015Forward_Contracts
Derivative [Line Items]
Number of forward contracts | Forward_Contracts	11		13
Maximum [Member]
Derivative [Line Items]
Unrealized foreign currency transaction gain (loss)	$ 1.2	$ 0.4
USD/Euro Forward Contracts [Member]
Derivative [Line Items]
Number of forward contracts | Forward_Contracts	8
Total value of contracts	$ 26.9
Brazilian Real/Euro Forward Contracts [Member]
Derivative [Line Items]
Number of forward contracts | Forward_Contracts	3
Total value of contracts	$ 0.1
Forward Contracts [Member]
Derivative [Line Items]
Fair value asset of derivative forward contracts	0.9
Derivative Liability	$ 0.2

Guarantees And Indemnificatio44

Guarantees And Indemnification Obligations (Product Warranty Reserves) (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance beginning December 31, 2012	$ 4,551
Provisions	582
Claims settled	(929)
Currency translation adjustments	97
Balance ending June 30, 2013	4,301
Liability for indemnification agreements	0
Increase in warranty obligations	$ 300

Contingencies And Commitments45

Contingencies And Commitments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Contingencies, Commitments And Guarantees [Line Items]
Loss recorded for settlement of dispute		$ (951)
Aggregate notional value standby letters of credit	$ 55,756
Minimum [Member]
Contingencies, Commitments And Guarantees [Line Items]
Expiration period, minimum in months and maximum in years	1 month
Maximum [Member]
Contingencies, Commitments And Guarantees [Line Items]
Expiration period, minimum in months and maximum in years	5 years

Contingencies And Commitments46

Contingencies And Commitments (Standby Letters Of Credit Instruments) (Details) $ in Thousands	Apr. 03, 2016USD ($)
Contingencies, Commitments And Guarantees [Line Items]
Total	$ 55,756
0-12 months [Member]
Contingencies, Commitments And Guarantees [Line Items]
Total	29,587
Greater than 12 months [Member]
Contingencies, Commitments And Guarantees [Line Items]
Total	$ 26,169

Defined Pension Benefit Plans47

Defined Pension Benefit Plans (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 03, 2016USD ($)
Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Cash contributions to defined benefit pension plan	$ 0.4

Defined Pension Benefit Plans48

Defined Pension Benefit Plans (Components Of Net Pension Benefit Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Interest cost on benefits obligation	$ 574	$ 548
Estimated return on assets	(664)	(723)
Loss amortization	226	210
Net periodic cost of defined benefit plans	$ 136	$ 35

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
Income Tax Contingency [Line Items]
Income tax expense recorded	$ 1,520	$ 3,284
Unrecognized tax benefits that would impact effective tax rate	3,000		$ 2,900
Unrecognized tax benefits that would affect the effective tax rate if recognized	2,600		$ 2,700
Deferred Tax Assets, Valuation Allowance	$ 900

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 03, 2016USD ($)$ / sharesshares	Apr. 05, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Mar. 31, 2013shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation shares authorized | shares	1,700,000
RSU outstanding | shares	234,310
Shares available for grant | shares	1,013,423
Compensation expense	$ 1.5	$ 2.2
Unrecognized compensation costs	$ 11.2
Weighted average period of recognition of compensation expense (in years)	2 years 2 months 9 days
Weighted average contractual term for stock options outstanding, years	6 years 9 months 7 days
Weighted average contractual term for stock options exercisable, years	6 years 1 month 4 days
Selling, General And Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 1.5	1.8
Special Charges [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 0.4
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Grant Date Fair Value | $ / shares	$ 11.91	$ 17.88
Stock options outstanding | shares	771,388
Aggregate intrinsic value of stock options exercised	$ 0.1
Aggregate intrinsic value of stock options outstanding	3.4
Aggregate intrinsic value of stock options exercisable	$ 1.2
Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period, (in years)	1 year
Expiration period	7 years
Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period, (in years)	5 years
Expiration period	10 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted | shares	84,578	54,702
Granted RSU awards fair value | $ / shares	$ 38.89	$ 51.92
Aggregate intrinsic value of RSU Awards / RSU MSPs	$ 1.4
Aggregate intrinsic value of RSU Awards outstanding	7.5
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0.1
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period, (in years)	3 years
Performance target threshold (as a percent)	0.00%
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target threshold (as a percent)	200.00%
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted | shares	43,016	26,094
Restricted Stock Units Management Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period, (in years)	3 years
Restricted stock units granted | shares	20,130	38,965
Discount rate granted for RSU MSPs	33.00%
Award discount from market price amortization period	four
Restricted stock units discount amount | $ / shares	12.83	17.11
Aggregate intrinsic value of RSU Awards / RSU MSPs	$ 0.2
Aggregate intrinsic value of RSU Awards outstanding	0.9
Aggregate intrinsic value of RSU Awards vested and deferred	$ 0.1
Cash Settled Stock Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU outstanding | shares	34,128			28,660
Cash used to settle awards	$ 0.4
Accrued expenses and current liabilities for Cash Settled Stock Unit Awards	0.5		$ 0.7
Cash Settled Stock Unit Awards [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0.2	$ 0.2
2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued for awards other than stock options or SARs per share counted towards aggregate limit	1.9

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Estimated Weighted-Average Assumptions Of Stock Options) (Details)	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Share-based Compensation [Abstract]
Risk-free interest rate	1.20%	1.40%
Expected life	4 years 6 months	4 years 6 months
Expected stock volatility	36.20%	40.40%
Expected dividend yield	0.40%	0.30%

Share-Based Compensation CEO In

Share-Based Compensation CEO Inducement Stock Award (Details) - $ / shares	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share-based compensation shares authorized	1,700,000
Stock Options [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock options granted (in shares)	210,633	118,992
Grant Date Fair Value (in usd per share)	$ 11.91	$ 17.88

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2015	$ (65,988)
Other comprehensive income, net of tax	8,294
Balance as of April 3, 2016	(57,694)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2015	(36,725)
Other comprehensive income, net of tax	8,294
Balance as of April 3, 2016	(28,431)
Pension, net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2015	(29,263)
Other comprehensive income, net of tax	0
Balance as of April 3, 2016	$ (29,263)

Special Charges_Recoveries (Det

Special Charges/Recoveries (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2014
Restructuring Reserve [Roll Forward]
Restructuring Reserve Beginning of Period	$ 4,664	$ 9,133
Restructuring charges	1,163	1,512
Watts settlement		951
Deferred Compensation Arrangement with Individual, Compensation Expense		420
Other Nonrecurring (Income) Expense	1,939	1,511
Special charges paid	(3,139)	(1,700)
Restructuring Reserve End of Period	3,464		$ 9,133
Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Facility related recovery	1,024
Restructuring charges		32
Brazil exit	889
Total special and restructuring charges	1,939	1,511
Restructuring Reserve End of Period		8,944
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	139	1,480
Acquisitions [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	(113)
Inventory Related Charges [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	1,900
Energy [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	(278)	343
Watts settlement		(26)
Deferred Compensation Arrangement with Individual, Compensation Expense		0
Energy [Member] | Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Facility related recovery	(376)
Restructuring charges		19
Brazil exit	887
Total special and restructuring charges	496	899
Energy [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	98	324
Energy [Member] | Acquisitions [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	(113)	530
Aerospace [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		1,169
Watts settlement		977
Deferred Compensation Arrangement with Individual, Compensation Expense		0
Aerospace [Member] | Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		13
Aerospace [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		1,156
Aerospace [Member] | Acquisitions [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	0	0
Brazil exit	0
Aerospace & Defense [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	1,441
Aerospace & Defense [Member] | Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Facility related recovery	1,400
Total special and restructuring charges	1,441	192
Aerospace & Defense [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	41
Aerospace & Defense [Member] | Inventory Related Charges [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	100
Corporate [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	0	0
Watts settlement		0
Deferred Compensation Arrangement with Individual, Compensation Expense		420
Corporate [Member] | Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Facility related recovery	0
Restructuring charges		0
Brazil exit	2
Total special and restructuring charges	2	420
Corporate [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	0	0
Corporate [Member] | Acquisitions [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 0
2014 Announced Restructuring Charges / (Recoveries), net as of April 3, 2016 | Divestiture [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		$ 1,000	$ 3,400

Special Charges_Recoveries Char

Special Charges/Recoveries Charges Incurred to Date (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	Special Charges / (Recoveries) As of and for the quarter ended April 3, 2016 Energy Aerospace & Defense Corporate Total Facility related expenses (recoveries) $ (376 ) $ 1,400 $ — $ 1,024 Employee related expenses 98 41 — 139 Total restructuring charges, net $ (278 ) $ 1,441 $ — $ 1,163 Acquisition related recoveries (113 ) — — (113 ) Brazil Closure 887 — 2 889 Total special charges, net $ 496 $ 1,441 $ 2 $ 1,939 Accrued special and restructuring charges as of December 31, 2015 $ 4,664 Total quarterly special charges, net (shown above) 1,939 Special charges paid / settled, net (3,139 ) Accrued special and restructuring charges as of April 3, 2016 $ 3,464 Special Charges / (Recoveries) As of and for the quarter ended April 5, 2015 Energy Aerospace & Defense Corporate Total Facility related expenses $ 19 $ 13 $ — $ 32 Employee related expenses 324 1,156 — 1,480 Total restructuring charges $ 343 $ 1,169 $ — $ 1,512 Divestiture expenses (recoveries) 26 (977 ) — (951 ) Acquisition related charges 530 — — 530 Executive retirement charges — — 420 420 Total special charges, net $ 899 $ 192 $ 420 $ 1,511 Accrued special and restructuring charges as of December 31, 2014 $ 9,133 Total quarterly special charges, net (shown above) 1,511 Special charges paid / settled, net (1,700 ) Accrued special and restructuring charges as of April 5, 2015 $ 8,944 The following table (in thousands) summarizes our California Restructuring related special charges to date as of April 3, 2016 : California Restructuring Charges / (Recoveries), net as of April 3, 2016 Aerospace & Defense Facility related expenses - incurred to date $ 1,400 Employee related expenses - incurred to date 31 Total restructuring related special charges - incurred to date $ 1,431
Charges incurred to date	$ 1,431
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Charges incurred to date	31
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring Expense	1,939	$ 1,511
Charges incurred to date	1,400
Energy [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring Expense	496	899
Aerospace & Defense [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring Expense	1,441	192
Corporate [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring Expense	$ 2	$ 420

Special Charges Narrative (Deta

Special Charges Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2014	Dec. 31, 2015
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	$ 1,163	$ 1,512
Deferred Compensation Arrangement with Individual, Compensation Expense		420
Watts settlement		(951)
Special charges, net	1,939	1,511
Inventories	170,100			$ 177,840
Energy [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	(278)	343
Deferred Compensation Arrangement with Individual, Compensation Expense		0
Watts settlement		26
Corporate [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	0	0
Deferred Compensation Arrangement with Individual, Compensation Expense		420
Watts settlement		0
Aerospace [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		1,169
Deferred Compensation Arrangement with Individual, Compensation Expense		0
Watts settlement		(977)
Aerospace & Defense [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	1,441
Acquisitions [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	(113)
Acquisitions [Member] | Energy [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	(113)	530
Acquisitions [Member] | Corporate [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	0
Acquisitions [Member] | Aerospace [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	0	0
Divestiture [Member] | 2014 Announced Restructuring Charges / (Recoveries), net as of April 3, 2016
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		1,000	$ 3,400
Inventory Related Charges [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	1,900
Inventory Related Charges [Member] | Aerospace & Defense [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	100
Disposal Group, Including Discontinued Operation, Inventory	1,900
Facility Closing [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		32
Total special and restructuring charges	1,939	1,511
Facility Closing [Member] | Energy [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		19
Total special and restructuring charges	496	899
Facility Closing [Member] | Corporate [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		0
Total special and restructuring charges	2	420
Facility Closing [Member] | Aerospace [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges		13
Facility Closing [Member] | Aerospace & Defense [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Total special and restructuring charges	1,441	$ 192
Brazil Manufacturing Operations [Member] | Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Disposal Group, Including Discontinued Operation, Assets	4,800
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	1,100
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	900
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	700
Disposal Group, Including Discontinued Operation, Inventory	600
BRAZIL | Facility Closing [Member] | Brazil Closure [Member] | Energy [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring charges	$ 900