Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q1 |
Entity Registrant Name | 'HUTTIG BUILDING PRODUCTS INC |
Entity Central Index Key | '0001093082 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 24,578,066 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Income Statement [Abstract] | ' | ' |
Net sales | $135.30 | $124.50 |
Cost of sales | 108.8 | 101.4 |
Gross margin | 26.5 | 23.1 |
Operating expenses | 26.7 | 24.5 |
Operating loss | -0.2 | -1.4 |
Interest expense, net | 0.6 | 0.6 |
Loss from continuing operations before income taxes | -0.8 | -2 |
Provision for income taxes | ' | ' |
Loss from continuing operations | -0.8 | -2 |
Net loss from discontinued operations, net of taxes | -3.2 | ' |
Net loss | ($4) | ($2) |
Net loss from continuing operations per share-basic and diluted | ($0.03) | ($0.09) |
Net loss from discontinued operations per share-basic and diluted | ($0.14) | ' |
Net loss per share-basic and diluted | ($0.17) | ($0.09) |
Weighted average shares outstanding: | ' | ' |
Basic shares outstanding | 23.3 | 22.6 |
Diluted shares outstanding | 23.3 | 22.6 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | |||
CURRENT ASSETS: | ' | ' | ' |
Cash and equivalents | $2.40 | $0.60 | $1.20 |
Trade accounts receivable, net | 60.2 | 44.3 | 54.6 |
Inventories | 75.1 | 66.7 | 64.1 |
Other current assets | 6.1 | 7.2 | 9.6 |
Total current assets | 143.8 | 118.8 | 129.5 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' | ' |
Land | 4.3 | 4.3 | 4.3 |
Building and improvements | 24.2 | 24.2 | 23.7 |
Machinery and equipment | 34.6 | 34.2 | 32 |
Gross property, plant and equipment | 63.1 | 62.7 | 60 |
Less accumulated depreciation | 46.8 | 46.1 | 44.2 |
Property, plant and equipment, net | 16.3 | 16.6 | 15.8 |
OTHER ASSETS: | ' | ' | ' |
Goodwill | 6.3 | 6.3 | 6.3 |
Other | 1.8 | 1.9 | 2.1 |
Deferred income taxes | 7.9 | 7.9 | 7.4 |
Total other assets | 16 | 16.1 | 15.8 |
TOTAL ASSETS | 176.1 | 151.5 | 161.1 |
CURRENT LIABILITIES: | ' | ' | ' |
Current maturities of long-term debt | 0.8 | 1.2 | 0.4 |
Trade accounts payable | 52.6 | 40.8 | 43.7 |
Deferred income taxes | 7.9 | 7.9 | 7.4 |
Accrued compensation | 4 | 3.5 | 4.4 |
Other accrued liabilities | 10.2 | 13.1 | 14.4 |
Total current liabilities | 75.5 | 66.5 | 70.3 |
NON-CURRENT LIABILITIES: | ' | ' | ' |
Long-term debt, less current maturities | 77.9 | 60.8 | 72.1 |
Other non-current liabilities | 4.3 | 1.3 | 1.8 |
Total non-current liabilities | 82.2 | 62.1 | 73.9 |
SHAREHOLDERS' EQUITY | ' | ' | ' |
Preferred shares; $.01 par (5,000,000 shares authorized) | ' | ' | ' |
Common shares; $.01 par (50,000,000 shares authorized: 24,578,066; 24,317,192; and 24,324,025 shares issued at March 31, 2014, December 31, 2013 and March 31, 2013, respectively) | 0.2 | 0.2 | 0.2 |
Additional paid-in capital | 39.3 | 39.8 | 39.1 |
Accumulated deficit | -21.1 | -17.1 | -22.4 |
Total shareholders' equity | 18.4 | 22.9 | 16.9 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $176.10 | $151.50 | $161.10 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
Statement Of Financial Position [Abstract] | ' | ' | ' |
Preferred stock, par value | $0.01 | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Common stock, shares issued | 24,578,066 | 24,317,192 | 24,324,025 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash Flows From Operating Activities: | ' | ' |
Net loss | ($4) | ($2) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Net loss from discontinued operations | 3.2 | ' |
Depreciation and amortization | 0.9 | 0.7 |
Stock-based compensation | 0.3 | 0.2 |
Changes in operating assets and liabilities: | ' | ' |
Trade accounts receivable | -15.9 | -12.5 |
Inventories | -8.4 | -9.1 |
Trade accounts payable | 11.8 | 12.1 |
Other | -1.6 | -1.9 |
Total cash used in operating activities | -13.7 | -12.5 |
Cash Flows From Investing Activities: | ' | ' |
Capital expenditures | -0.3 | -0.8 |
Total cash used in investing activities | -0.3 | -0.8 |
Cash Flows From Financing Activities: | ' | ' |
Borrowings of debt, net | 16.6 | 12.6 |
Repurchase shares of common stock | -0.8 | -0.4 |
Total cash provided by financing activities | 15.8 | 12.2 |
Net increase (decrease) in cash and equivalents | 1.8 | -1.1 |
Cash and equivalents, beginning of period | 0.6 | 2.3 |
Cash and equivalents, end of period | 2.4 | 1.2 |
Supplemental Disclosure of Cash Flow Information: | ' | ' |
Interest paid | 0.6 | 0.5 |
Income taxes paid | ' | $0.10 |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
BASIS OF PRESENTATION | ' |
1. BASIS OF PRESENTATION | |
The unaudited interim condensed consolidated financial statements of Huttig Building Products, Inc. and Subsidiary (the “Company” or “Huttig”) were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and reflect all adjustments (including normal recurring accruals) which, in the opinion of management, are considered necessary for the fair presentation of the results for the periods presented. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
The condensed consolidated results of operations and resulting cash flows for the interim periods presented are not necessarily indicative of the results that might be expected for the full year. Due to the seasonal nature of Huttig’s business, operating profitability is usually lower in the Company’s first and fourth quarters than in the second and third quarters. | |
Certain items in the 2013 financial statements have been reclassified to conform with the current year presentation. |
COMPREHENSIVE_INCOME
COMPREHENSIVE INCOME | 3 Months Ended |
Mar. 31, 2014 | |
Equity [Abstract] | ' |
COMPREHENSIVE INCOME | ' |
2. COMPREHENSIVE INCOME | |
Comprehensive income refers to net income adjusted by gains and losses that in conformity with U.S. GAAP are excluded from net income. Other comprehensive items are amounts that are included in stockholders’ equity in the condensed consolidated balance sheets. The Company has no comprehensive income (loss) items and therefore the comprehensive net income (loss) is equal to net income (loss) for all periods presented. |
DEBT
DEBT | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
DEBT | ' | ||||||||||||
3. DEBT | |||||||||||||
Debt consisted of the following (in millions): | |||||||||||||
March 31, | December 31, | March 31, | |||||||||||
2014 | 2013 | 2013 | |||||||||||
Revolving credit facility | $ | 76.9 | $ | 59.8 | $ | 72 | |||||||
Other obligations | 1.8 | 2.2 | 0.5 | ||||||||||
Total debt | 78.7 | 62 | 72.5 | ||||||||||
Less current portion | 0.8 | 1.2 | 0.4 | ||||||||||
Long-term debt | $ | 77.9 | $ | 60.8 | $ | 72.1 | |||||||
Credit Agreement — The Company has a $120.0 million asset based senior secured revolving credit facility (“credit facility”). Borrowing availability under the credit facility is based on eligible accounts receivable, inventory and real estate. The real estate component of the borrowing base amortizes monthly over 12.5 years on a straight-line basis. Borrowings under the credit facility are collateralized by substantially all of the Company’s assets and are subject to certain operating limitations applicable to a loan of this type, which, among other things, place limitations on indebtedness, liens, investments, mergers and acquisitions, dispositions of assets, cash dividends and transactions with affiliates. The entire unpaid balance under the credit facility is due and payable on December 21, 2017, the maturity date of the credit agreement. | |||||||||||||
At March 31, 2014, under the credit facility, the Company had revolving credit borrowings of $76.9 million outstanding at a weighted average interest rate of 2.75%, letters of credit outstanding totaling $3.6 million, primarily for health and workers’ compensation insurance, and $39.5 million of additional committed borrowing capacity. The Company pays an unused commitment fee in the range of 0.30% to 0.375% per annum. In addition, the Company had $1.8 million of capital lease and other obligations outstanding at March 31, 2014. | |||||||||||||
The sole financial covenant in the credit facility is the fixed charge coverage ratio (“FCCR”) of 1.25:1.00, which must be tested by the Company if the excess borrowing availability falls below a range of $10.0 million to $15.0 million, depending on the Company’s borrowing base, and must also be tested on a pro forma basis prior to consummation of certain significant business transactions outside the Company’s ordinary course of business, as defined in the agreement. | |||||||||||||
The Company believes that cash generated from its operations and funds available under the credit facility will provide sufficient funds to meet the operating needs of the Company for at least the next twelve months. However, if the Company’s availability falls below the required threshold and the Company does not meet the minimum FCCR, its lenders would have the right, but not the obligation, to terminate the loan commitments and accelerate the repayment of the entire amount outstanding under the credit facility. The lenders could also foreclose on the Company’s assets that secure the credit facility. In that event, the Company would be forced to seek alternative sources of financing, which may not be available on terms acceptable to it, or at all. |
CONTINGENCIES
CONTINGENCIES | 3 Months Ended |
Mar. 31, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
CONTINGENCIES | ' |
4. CONTINGENCIES | |
The Company carries insurance policies on insurable risks with coverage and other terms that it believes to be appropriate. The Company generally has self-insured retention limits and has obtained fully insured layers of coverage above such self-insured retention limits. Accruals for self-insurance losses are made based on claims experience. Liabilities for existing and unreported claims are accrued for when it is probable that future costs will be incurred and can be reasonably estimated. | |
In 1995, Huttig was identified as a potentially responsible party in connection with the cleanup of contamination at a formerly owned property in Montana that was used for the manufacture and treatment of wood windows. The facility was closed in 1996 and was formerly owned by Missoula White Pine Sash Company which was acquired by Huttig in 1971. Since being identified as a potentially responsible party in 1995, Huttig has been voluntarily remediating this property under the oversight of, and in cooperation with, the Montana Department of Environmental Quality (DEQ) and has complied with a 1995 unilateral administrative order of the DEQ to complete a remedial investigation and feasibility study. The remedial investigation was completed by Huttig and was approved in 1998 by the DEQ, which has also issued its final risk assessment of this property. Since 1998 Huttig has remained in active discussions with the DEQ, expanded the remedial investigation where warranted, implemented voluntary interim cleanup actions, conducted pilot tests, and tested remedial technologies in the field. During the first quarter of 2014 the DEQ issued its initial proposed plan for the final cleanup of the Montana Property in its report titled Proposed Final Cleanup for the Missoula White Pine Sash State Superfund Facility (Proposed Plan). Under the preferred remedy set forth in the Proposed Plan, the DEQ estimated total costs to remediate the property at $7.9 million. The DEQ sought public comment on the Proposed Plan through April 14, 2014. Huttig’s comments, along with other public comments on the Proposed Plan, are currently being evaluated by the DEQ. After consideration of public comments, the DEQ is expected to publish a record of decision (ROD) outlining the final remedy for the site. The DEQ is then expected to negotiate with Huttig for an administrative order of consent related to Huttig’s role in the implementation of the final remedy. According to the DEQ, the ROD is expected to be issued in the third quarter of 2014. Based on the Company’s review of the Proposed Plan, including discussions with third party specialists, the Company recorded a charge of $3.1 million, which is reflected in discontinued operations, increasing the total accrual for reasonably estimable remediation costs to $3.7 million. The Company’s estimate is based on the preferred remedy of the Proposed Plan however takes into consideration alternative remediation treatments and underlying cost estimates. The Proposed Plan, as well as the Company’s estimate of remediation costs, may change when the ROD is issued or at other times when relevant circumstances change, depending on a number of factors. Factors impacting the Company’s estimate include, among other things, the final remedy sought by the DEQ in the ROD as compared to the preferred remedy set forth in the proposed plan, associated clean-up standards, alternative remediation methods, the number and financial condition of other potentially responsible parties, discussions with the DEQ, and the availability of insurance coverage. Huttig is reviewing whether insurance coverage is available to it with respect to any remediation costs incurred for this property. At this time Huttig has not recognized any recovery due to the uncertain nature of these claims. The ultimate amount of remediation expenditures is difficult to estimate because of the uncertainty relating to the final remedy to be selected by the DEQ in its ROD as well as alternative means of remediation, which may or may not be available. As of March 31, 2014, management believes the accrual represents a reasonable estimate, based on current facts and circumstances, of the expected costs of remediation to Huttig. Until the DEQ selects a final remedy and issues its ROD, and until alternative means of remediation can be evaluated, management cannot estimate the top end of the range of potential cost to Huttig. As a result, the amount of expenses ultimately incurred by Huttig with respect to this property could exceed the amount accrued as of March 31, 2014 by a material amount and could have a material adverse effect on Huttig’s liquidity, financial condition or operating results of any fiscal quarter or year in which additional expenses are incurred. | |
In addition, some of the Company’s current and former distribution centers are located in areas of current or former industrial activity where environmental contamination may have occurred, and for which it, among others, could be held responsible. The Company currently believes that there are no material environmental liabilities at any of its distribution center locations. | |
The Company accrues expenses for contingencies when it is probable that an asset has been impaired or a liability has been incurred and management can reasonably estimate the expense. Contingencies for which the Company has made accruals include environmental, product liability and other legal matters. It is possible, however, that future results of operations for any particular quarter or annual period and the Company’s financial condition could be materially affected by changes in assumptions or other circumstances related to these matters. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
EARNINGS PER SHARE | ' | ||||||||
5. EARNINGS PER SHARE | |||||||||
The Company calculates its basic income per share by dividing net income allocated to common shares outstanding by the weighted average number of common shares outstanding. Unvested shares of restricted stock participate in dividends on the same basis as common shares. As a result, these share-based awards meet the definition of participating securities and the Company applies the two-class method to compute earnings per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common stockholders. In periods in which the Company has net losses, the losses are not allocated to participating securities because the participating security holders are not obligated to share in such losses. The following table presents the number of participating securities and earnings allocated to those securities. | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Earnings allocated to participating shareholders | $ | — | $ | — | |||||
Number of participating securities | 1.4 | 1.8 | |||||||
The diluted earnings per share calculations include the effect of the assumed exercise using the treasury stock method for both stock options and unvested restricted stock units, except when the effect would be anti-dilutive. The following table presents the number of common shares used in the calculation of net income per share from continuing operations for the three-month period ended March 31, 2014 and March 31, 2013. | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Weighted-average number of common shares-basic | 23.3 | 22.6 | |||||||
Dilutive potential common shares | — | — | |||||||
Weighted-average number of common shares-dilutive | 23.3 | 22.6 | |||||||
The calculation of diluted earnings per common share for the three-month periods ended March 31, 2014 and March 31, 2013 excludes the impact of antidilutive stock options and restricted stock units. The Company has 0.2 million stock options outstanding at March 31, 2014 which were all antidilutive. |
INCOME_TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
6. INCOME TAXES | |
Huttig recognized no income tax expense or benefit in the three month periods ended March 31, 2014 and March 31, 2013. At March 31, 2014, the Company had gross deferred tax assets of $40.2 million and a valuation allowance of $31.5 million netting to deferred tax assets of $8.7 million. The Company had deferred tax liabilities of $8.7 million at March 31, 2014. After classifying $0.8 million of short-term deferred tax assets with short-term deferred tax liabilities, the Company had current net deferred tax liabilities of $7.9 million, as well as long term deferred tax assets of $7.9 million at March 31, 2014. The Company expects its deferred tax liabilities to be settled with utilization of its deferred tax assets. The deferred tax liabilities enable the Company to partially utilize the deferred tax assets at March 31, 2014 and the balance of the deferred tax assets are covered by the Company’s valuation allowance. The Company is not relying on future pre-tax income at March 31, 2014 to support the utilization of the deferred tax assets. |
STOCKBASED_EMPLOYEE_COMPENSATI
STOCK-BASED EMPLOYEE COMPENSATION | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
STOCK-BASED EMPLOYEE COMPENSATION | ' |
7. STOCK-BASED EMPLOYEE COMPENSATION | |
The Company recognized $0.3 million and $0.2 million in non-cash stock-based compensation expense in each of the three month periods ended March 31, 2014 and March 31, 2013, respectively. During the first three months of 2014, the Company granted an aggregate of 456,253 shares of restricted stock at a fair market value of $3.81 per share under its 2005 Executive Incentive Compensation Plan. The restricted shares vest in three equal installments on the first, second and third anniversaries of the grant date. The unearned compensation expense is being amortized into expense on a straight-line basis over the requisite service period for the entire award. As of March 31, 2014 and 2013, the total compensation expense not yet recognized related to all outstanding restricted stock/unit awards was approximately $2.7 million and $2.0 million, respectively. |
DEBT_Tables
DEBT (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Summary of Long-term Debt | ' | ||||||||||||
Debt consisted of the following (in millions): | |||||||||||||
March 31, | December 31, | March 31, | |||||||||||
2014 | 2013 | 2013 | |||||||||||
Revolving credit facility | $ | 76.9 | $ | 59.8 | $ | 72 | |||||||
Other obligations | 1.8 | 2.2 | 0.5 | ||||||||||
Total debt | 78.7 | 62 | 72.5 | ||||||||||
Less current portion | 0.8 | 1.2 | 0.4 | ||||||||||
Long-term debt | $ | 77.9 | $ | 60.8 | $ | 72.1 | |||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Summary of Number of Participating Securities and Earning Allocations to those Securities | ' | ||||||||
The following table presents the number of participating securities and earnings allocated to those securities. | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Earnings allocated to participating shareholders | $ | — | $ | — | |||||
Number of participating securities | 1.4 | 1.8 | |||||||
Summary of Diluted Earning Per Share | ' | ||||||||
The following table presents the number of common shares used in the calculation of net income per share from continuing operations for the three-month period ended March 31, 2014 and March 31, 2013. | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Weighted-average number of common shares-basic | 23.3 | 22.6 | |||||||
Dilutive potential common shares | — | — | |||||||
Weighted-average number of common shares-dilutive | 23.3 | 22.6 | |||||||
Debt_Summary_of_Longterm_Debt_
Debt - Summary of Long-term Debt (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | |||
Line of Credit Facility [Line Items] | ' | ' | ' |
Total debt | $78.70 | $62 | $72.50 |
Less current portion | 0.8 | 1.2 | 0.4 |
Long-term debt | 77.9 | 60.8 | 72.1 |
Revolving credit facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Total debt | 76.9 | 59.8 | 72 |
Other obligations [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Total debt | $1.80 | $2.20 | $0.50 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
Line of Credit Facility [Line Items] | ' | ' | ' |
Asset based senior secured revolving credit | $120 | ' | ' |
Credit facility maturity date | 21-Dec-17 | ' | ' |
Revolving credit borrowing | 78.7 | 62 | 72.5 |
Weighted average interest rate | 2.75% | ' | ' |
Letters of credit outstanding | 3.6 | ' | ' |
Additional committed borrowing capacity | 39.5 | ' | ' |
Capital lease and other obligations | 1.8 | ' | ' |
Fixed charge coverage ratio of credit facility | 1.25% | ' | ' |
Minimum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Unused commitment fees | 0.30% | ' | ' |
Fixed charge coverage ratio | 10 | ' | ' |
Maximum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Unused commitment fees | 0.38% | ' | ' |
Fixed charge coverage ratio | 15 | ' | ' |
Revolving credit facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Revolving credit borrowing | $76.90 | $59.80 | $72 |
Amended amortization on real estate component of borrowing base [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Amortization on real estate component of borrowing base | '12 years 6 months | ' | ' |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Contingencies And Commitments [Line Items] | ' |
Total accrual for reasonably estimable remediation cost | $3.70 |
Estimated total costs to remediate property | 7.9 |
Discontinued Operation [Member] | ' |
Contingencies And Commitments [Line Items] | ' |
Environmental remediation expense | $3.10 |
Earnings_Per_Share_Summary_of_
Earnings Per Share - Summary of Number of Participating Securities and Earning Allocated to those Securities (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Earnings allocated to participating shareholders | ' | ' |
Number of participating securities | 1.4 | 1.8 |
Earnings_Per_Share_Summary_of_1
Earnings Per Share - Summary of Diluted Earning Per Share (Detail) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Weighted-average number of common shares-basic | 23.3 | 22.6 |
Dilutive potential common shares | ' | ' |
Weighted-average number of common shares-dilutive | 23.3 | 22.6 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (Stock Option [Member]) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Stock Option [Member] | ' |
Earnings Per Share Disclosure [Line Items] | ' |
Anti-dilutive shares not included in the computation of basic and diluted income per share | 0.2 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income tax expense or benefit | ' | ' | ' |
Gross deferred tax assets | 40.2 | ' | ' |
Valuation allowance for net deferred tax assets | 31.5 | ' | ' |
Net deferred tax assets | 8.7 | ' | ' |
Deferred tax liabilities | 8.7 | ' | ' |
Short term deferred tax liabilities | 0.8 | ' | ' |
Current net deferred tax liabilities | 7.9 | 7.4 | 7.9 |
Long term deferred tax assets | $7.90 | $7.40 | $7.90 |
Recovered_Sheet1
Stock-Based Employee Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Installment | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock-based compensation | $0.30 | $0.20 |
Number of installments of restricted shares | 3 | ' |
Fair market value of restricted shares granted | $3.81 | ' |
Unrecognized compensation expense of restricted stock | $2.70 | $2 |
2005 Executive Incentive Compensation Plan [Member] | Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted stock shares granted | 456,253 | ' |