Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'VIASYSTEMS GROUP INC | ' |
Entity Central Index Key | '0001101169 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 20,760,775 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $61,671 | $74,816 |
Accounts receivable, net | 204,646 | 183,148 |
Inventories | 120,655 | 111,029 |
Prepaid expenses and other | 43,590 | 38,838 |
Total current assets | 430,562 | 407,831 |
Property, plant and equipment, net | 426,480 | 427,968 |
Goodwill | 151,283 | 151,283 |
Intangible assets, net | 97,840 | 102,817 |
Deferred financing costs, net | 13,130 | 15,304 |
Other assets | 943 | 978 |
Total assets | 1,120,238 | 1,106,181 |
Current liabilities: | ' | ' |
Current maturities of long-term debt | 11,385 | 12,250 |
Accounts payable | 187,177 | 161,890 |
Accrued and other liabilities | 99,757 | 90,812 |
Total current liabilities | 298,319 | 264,952 |
Long-term debt, less current maturities | 562,030 | 563,446 |
Other non-current liabilities | 52,474 | 45,926 |
Total liabilities | 912,823 | 874,324 |
Stockholders' equity: | ' | ' |
Common stock, par value $0.01 per share, 100,000,000 shares authorized, 20,760,775 and 20,624,255 shares issued and outstanding | 208 | 206 |
Paid-in capital | 2,393,092 | 2,385,522 |
Accumulated deficit | -2,198,046 | -2,165,069 |
Accumulated other comprehensive income | 9,436 | 8,868 |
Total Viasystems stockholders' equity | 204,690 | 229,527 |
Noncontrolling interest | 2,725 | 2,330 |
Total stockholders' equity | 207,415 | 231,857 |
Total liabilities and stockholders' equity | $1,120,238 | $1,106,181 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 20,760,775 | 20,624,255 |
Common stock, shares outstanding | 20,760,775 | 20,624,255 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net sales | $309,172 | $327,352 | $867,665 | $886,302 |
Operating expenses: | ' | ' | ' | ' |
Cost of goods sold, exclusive of items shown separately | 253,737 | 261,953 | 705,243 | 708,566 |
Selling, general and administrative | 25,192 | 27,635 | 77,886 | 80,355 |
Depreciation | 21,857 | 22,246 | 65,693 | 57,831 |
Amortization | 1,680 | 1,679 | 5,036 | 2,869 |
Restructuring and impairment | 347 | 9,480 | 347 | 18,425 |
Operating income | 6,359 | 4,359 | 13,460 | 18,256 |
Other expense (income): | ' | ' | ' | ' |
Interest expense, net | 11,159 | 11,257 | 33,617 | 30,753 |
Amortization of deferred financing costs | 725 | 730 | 2,174 | 2,000 |
Loss on early extinguishment of debt | ' | ' | ' | 24,234 |
Other, net | 975 | -272 | 2,664 | -758 |
Loss before income taxes | -6,500 | -7,356 | -24,995 | -37,973 |
Income taxes | 2,532 | 2,189 | 7,587 | 9,747 |
Net loss | -9,032 | -9,545 | -32,582 | -47,720 |
Less: Net income (loss) attributable to noncontrolling interest | 121 | 243 | 395 | 19 |
Net loss attributable to common stockholders | -9,153 | -9,788 | -32,977 | -47,739 |
Basic loss per share | ($0.45) | ($0.49) | ($1.64) | ($2.39) |
Diluted loss per share | ($0.45) | ($0.49) | ($1.64) | ($2.39) |
Basic weighted average shares outstanding | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 |
Diluted weighted average shares outstanding | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 |
Comprehensive (loss) income: | ' | ' | ' | ' |
Net loss | -9,032 | -9,545 | -32,582 | -47,720 |
Change in fair value of derivatives, net of tax | -355 | 1,413 | 568 | -1,178 |
Comprehensive loss Less: | -9,387 | -8,132 | -32,014 | -48,898 |
Comprehensive income (loss) attributable to noncontrolling interests | 121 | 243 | 395 | 19 |
Comprehensive loss attributable to common stockholders | ($9,508) | ($8,375) | ($32,409) | ($48,917) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss | ($32,582) | ($47,720) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 70,729 | 60,700 |
Non-cash stock compensation expense | 8,235 | 7,890 |
Amortization of deferred financing costs | 2,174 | 2,000 |
Loss on disposition of assets, net | 279 | 499 |
Deferred income taxes | -171 | 797 |
Non-cash impact of exchange rate changes | -16 | 134 |
Impairment of property, plant and equipment | ' | 1,315 |
Loss on early extinguishment of debt | ' | 24,234 |
Amortization of original issue discount on 2015 Notes | ' | 665 |
Change in assets and liabilities: | ' | ' |
Accounts receivable | -21,498 | 19,808 |
Inventories | -9,626 | 23,960 |
Prepaid expenses and other | -932 | 4,732 |
Accounts payable | 25,287 | -28,180 |
Accrued and other liabilities | 12,410 | -147 |
Net cash provided by operating activities | 54,289 | 70,687 |
Cash flows from investing activities: | ' | ' |
Proceeds from disposals of property, plant and equipment | 550 | 390 |
Capital expenditures | -65,179 | -81,497 |
Acquisition of DDi, net of cash acquired | ' | -253,464 |
Acquisition of remaining interest in Huizhou, China facility | ' | -10,106 |
Net cash used in investing activities | -64,629 | -344,677 |
Cash flows from financing activities: | ' | ' |
Proceeds from borrowings under credit facilities | 10,000 | 10,000 |
Repayments of borrowings under mortgages and credit facilities | -11,247 | -10,396 |
Repayment of Senior Subordinated Convertible Notes due 2013 | -895 | ' |
Withholding taxes related to stock awards net share settlements | -663 | ' |
Financing and other fees | ' | -16,213 |
Net cash (used in) provided by financing activities | -2,805 | 297,096 |
Net change in cash and cash equivalents | -13,145 | 23,106 |
Cash and cash equivalents, beginning of the period | 74,816 | 71,281 |
Cash and cash equivalents, end of the period | 61,671 | 94,387 |
Supplemental cash flow information: | ' | ' |
Interest paid | 22,783 | 24,078 |
Income taxes paid, net | 5,454 | 11,341 |
7.875% Senior Secured Notes [Member] | ' | ' |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of 7.875% Senior Secured Notes due 2019 | ' | 550,000 |
12.0% Senior Subordinated Notes [Member] | ' | ' |
Cash flows from financing activities: | ' | ' |
Repayment of 12.0% Senior Subordinated Notes | ' | ($236,295) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Parenthetical) | Sep. 30, 2012 |
7.875% Senior Secured Notes [Member] | ' |
Debt instrument interest rate | 7.88% |
12.0% Senior Subordinated Notes [Member] | ' |
Debt instrument interest rate | 12.00% |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Basis of Presentation | ' | ||||||||||||||||
1. Basis of Presentation | |||||||||||||||||
Unaudited Interim Condensed Consolidated Financial Statements | |||||||||||||||||
The unaudited interim condensed consolidated financial statements of Viasystems Group, Inc. and its subsidiaries (“Viasystems” or the “Company”) reflect all adjustments consisting only of normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of financial position, results of operations and cash flows. The results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for a full fiscal year. These condensed consolidated financial 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, 2012, filed with the Securities and Exchange Commission. | |||||||||||||||||
Nature of Business | |||||||||||||||||
Viasystems is a leading worldwide provider of complex multi-layer printed circuit boards (“PCBs”) and electro-mechanical solutions (“E-M Solutions”). The Company’s products are used in a wide range of applications including, for example, automotive engine controls and safety systems, data networking equipment, telecommunications switching equipment, complex medical, technical and industrial instruments, and flight control systems. | |||||||||||||||||
Principles of Consolidation | |||||||||||||||||
The accompanying condensed consolidated financial statements include the accounts of Viasystems Group, Inc. and its wholly-owned and majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect i) the reported amounts of assets and liabilities, ii) the disclosure of contingent assets and liabilities at the date of the financial statements and iii) the reported amounts of revenues and expenses during the reporting period. | |||||||||||||||||
Estimates and assumptions are used in accounting for the following significant matters, among others: | |||||||||||||||||
• | allowances for doubtful accounts; | ||||||||||||||||
• | inventory valuation; | ||||||||||||||||
• | fair value of derivative instruments and related hedged items; | ||||||||||||||||
• | fair value of assets acquired and liabilities assumed in acquisitions; | ||||||||||||||||
• | useful lives of property, plant, equipment and intangible assets; | ||||||||||||||||
• | long-lived and intangible asset impairments; | ||||||||||||||||
• | restructuring charges; | ||||||||||||||||
• | warranty and product returns allowances; | ||||||||||||||||
• | deferred compensation agreements; | ||||||||||||||||
• | tax related items; | ||||||||||||||||
• | contingencies; and | ||||||||||||||||
• | fair value of awards granted under the Company’s stock-based compensation plans. | ||||||||||||||||
Actual results may differ from previously estimated amounts, and such differences may be material to the Company’s condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the condensed consolidated financial statements in the period in which the revision is made. The Company does not consider as material any revisions made to estimates or assumptions during the periods presented in the accompanying condensed consolidated financial statements. | |||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | |||||||||||||||||
The Company considers short-term highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. | |||||||||||||||||
Commitments and Contingencies | |||||||||||||||||
The Company is a party to contracts with third party consultants, independent contractors and other service providers in which the Company has agreed to indemnify such parties against certain liabilities in connection with their performance. Based on historical experience and the likelihood that such parties will assert a claim against the Company, in the opinion of the Company’s management, the ultimate liabilities resulting from such indemnification obligations will not have a material adverse effect on its business, financial condition, results of operations or cash flows. | |||||||||||||||||
The Company is a party to agreements with third parties in which the Company has agreed to indemnify such parties against certain liabilities in connection with claims by unrelated parties. At September 30, 2013 and December 31, 2012, other non-current liabilities include $10,905 and $11,314, respectively, of accruals for potential claims in connection with such indemnities. | |||||||||||||||||
Viasystems’ certificate of incorporation provides that none of the directors and officers of the Company bear the risk of personal liability for monetary damages for breach of fiduciary duty as a director or officer, except in cases where the action involves a breach of the duty of loyalty, acts or omissions not in good faith or involving intentional misconduct or knowing violation of the law, the unlawful payment of dividends or repurchasing of capital stock, or transactions from which the director or officer derived improper personal benefits. | |||||||||||||||||
The Company is subject to various lawsuits and claims with respect to such matters as product liability, product development and other actions arising in the normal course of business. In the opinion of the Company’s management, the ultimate liabilities resulting from such lawsuits and claims will not have a material adverse effect on its business, financial condition, results of operations or cash flows. | |||||||||||||||||
Earnings or Loss Per Share | |||||||||||||||||
The Company computes basic earnings per share by dividing its net income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share is based on the weighted average number of common shares outstanding during the period plus, to the extent they are dilutive, common equivalent shares (consisting primarily of employee stock options, unvested restricted stock awards and unvested performance share units). The potentially dilutive impact of the Company’s share-based compensation is determined using the treasury stock method. | |||||||||||||||||
The components used in the computation of basic and diluted loss per share attributable to common stockholders were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net loss attributable to common stockholders | $ | (9,153 | ) | $ | (9,788 | ) | $ | (32,977 | ) | $ | (47,739 | ) | |||||
Weighted average number of shares—basic | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Dilutive effect of stock options | — | — | — | — | |||||||||||||
Dilutive effect of restricted stock awards | — | — | — | — | |||||||||||||
Dilutive effect of performance share units | — | — | — | — | |||||||||||||
Weighted average number of shares—diluted | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Basic loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
Diluted loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
For the three and nine months ended September 30, 2013, the calculation of diluted weighted average shares outstanding excludes i) the effect of performance share units representing a maximum of 987,147 shares of common stock, ii) options to purchase 1,900,455 shares of common stock, iii) unvested restricted stock awards of 586,287, and iv) convertible debt through the date it was retired (see Note 5), which was convertible into 6,593 shares of common stock. For the three and nine months ended September 30, 2012, the calculation of diluted weighted average shares outstanding excludes i) the effect of performance share units representing a maximum of 278,686 shares of common stock, ii) the effect of options to purchase 2,039,176 shares of common stock, iii) unvested restricted stock awards of 631,935 and iv) debt which was convertible into 6,593 shares of common stock. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The Company measures the fair value of assets and liabilities using a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: Level 1—observable inputs such as quoted prices in active markets; Level 2—inputs, other than quoted market prices in active markets, which are observable, either directly or indirectly; and Level 3—valuations derived from valuation techniques in which one or more significant inputs are unobservable. In addition, the Company may use various valuation techniques including the market approach, using comparable market prices; the income approach, using present value of future income or cash flow; and the cost approach, using the replacement cost of assets. | |||||||||||||||||
The Company records deferred gains and losses related to cash flow hedges based on the fair value of active derivative contracts on the reporting date, as determined using a market approach (see Note 7). As quoted prices in active markets are not available for identical contracts, Level 2 inputs are used to determine fair value. These inputs include quotes for similar but not identical derivative contracts, market interest rates that are corroborated with publicly available market information and third party credit ratings for the counterparties to our derivative contracts. When applicable, all such contracts covered by master netting agreements are reported net, with gross positive fair values netted with gross negative fair values by counterparty. | |||||||||||||||||
In addition to cash flow hedges, the Company’s financial instruments consist of cash equivalents, accounts receivable, long-term debt and other long-term obligations. For cash equivalents, accounts receivable and other long-term obligations, the carrying amounts approximate fair market value. The estimated fair values of the Company’s debt instruments and cash flow hedges as of September 30, 2013, and December 31, 2012, are as follows: | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 583,000 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 12,344 | 12,724 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | — | — | |||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,999 | 1,999 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | (41 | ) | (41 | ) | Prepaid expenses and other | ||||||||||||
Cash flow hedges – long-term deferred gain contracts | 72 | 72 | Other assets | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 543,125 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 14,128 | 14,125 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | 895 | 895 | Long-term debt, less current maturities | ||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,340 | 1,340 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | — | — | |||||||||||||||
Cash flow hedges – long-term deferred gain contracts | — | — | |||||||||||||||
The Company determined the fair value of the Senior Secured Notes due 2019 using Level 1 inputs—quoted market prices for the notes. The Company determined the fair value of the North America Mortgage Loans and Zhongshan 2010 Credit Facility using Level 2 inputs, and estimated the fair value based on discounted future cash flows using a discount rate that approximates the current effective borrowing rate for comparable loans. | |||||||||||||||||
Noncontrolling Interest | |||||||||||||||||
The Company owns a majority interest in its subsidiary that operates a manufacturing facility in Huiyang, China, and a noncontrolling interest holder owns 5% of this subsidiary. During the first five months of 2012, the Company also owned a majority interest in its subsidiary that operated a manufacturing facility in Huizhou, China, and the same noncontrolling interest holder owned 15% of that subsidiary. In connection with the closure of the Huizhou facility in 2012, the Company purchased the 15% noncontrolling interest which increased the Company’s ownership to 100%. Noncontrolling interest is reported as a component of equity, and net income attributable to the noncontrolling interest is reported as a reduction from net income to arrive at net income attributable to the Company’s common stockholders. | |||||||||||||||||
The Company purchases consulting and other services from the noncontrolling interest holder related to the Huiyang facility. During the three and nine months ended September 30, 2013, the Company paid the noncontrolling interest holder $29 and $85, respectively, related to these services. During the three and nine months ended September 30, 2012, the Company paid the noncontrolling interest holder $29 and $87, respectively, related to these services. | |||||||||||||||||
During 2012, the Company leased the Huizhou facility and purchased consulting and other services from the noncontrolling interest holder related to the Huizhou facility. During the three and nine months ended September 30, 2012, the Company paid the noncontrolling interest holder $186 and $546 for rental and service fees. | |||||||||||||||||
A reconciliation of noncontrolling interest for the nine months ended September 30, 2013 and 2012, is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance, beginning of year | $ | 2,330 | $ | 3,665 | |||||||||||||
Net income attributable to noncontrolling interest | 395 | 19 | |||||||||||||||
Purchase of noncontrolling interest in Huizhou, China facility | — | (1,157 | ) | ||||||||||||||
Balance, September 30, | $ | 2,725 | $ | 2,527 | |||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||||||
On January 1, 2013, the Company adopted a new accounting standard which requires the Company to disclose additional information about financial instruments that have been offset on its balance sheet. Assets and liabilities for financial instruments, such as cash flow hedge contracts, which are covered by master netting agreements are reported net, with gross positive fair values netted with gross negative fair values by counterparty. While the adoption of this standard impacts the Company’s disclosures, it does not change the way the Company accounts for such financial instruments and has no effect on the Company’s financial condition or results of operations. | |||||||||||||||||
On January 1, 2012, the Company adopted an accounting standard which changes the way accumulated other comprehensive income is presented in its financial statements and elected to begin reporting accumulated other comprehensive income in a continuous consolidated statement of operations and other comprehensive income. In addition, certain other aspects of the new standard were adopted on January 1, 2013, requiring additional disclosure about reclassification adjustments out of accumulated other comprehensive income. The adoption of this standard had no effect on the Company’s financial condition or results of operations (see Note 11). | |||||||||||||||||
Recently issued Accounting Pronouncements | |||||||||||||||||
In July 2013, the FASB issued a new accounting standard to provide guidance on the financial statement presentation of unrecognized tax benefits when a net operating loss carryforward exists. The new standard provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward if the settlement of such liability is required or expected in the event the uncertain tax position is disallowed. This standard will be applicable for the Company beginning in 2014, and the Company is evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements. |
The_DDi_Acquisition
The DDi Acquisition | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
The DDi Acquisition | ' | ||||
2. The DDi Acquisition | |||||
On May 31, 2012, the Company acquired DDi Corp. (“DDi”) in a cash purchase transaction pursuant to which DDi became a wholly owned subsidiary of the Company (the “DDi Acquisition”). The following unaudited pro forma information presents the combined results of operations of Viasystems and DDi for the nine months ended September 30, 2012, as if the DDi Acquisition had been completed on January 1, 2012, with adjustments to give effect to pro forma events that are directly attributable to the DDi Acquisition. The unaudited pro forma results do not reflect any operating efficiencies or potential cost savings which may have resulted from the consolidation of the operations of the companies. Accordingly, these unaudited pro forma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined company that would have been achieved had the acquisition occurred at the beginning of the period presented, nor are they intended to represent or be indicative of future results of operations. | |||||
The following table summarizes the unaudited pro forma results of operations: | |||||
Nine Months | |||||
Ended | |||||
September 30, | |||||
2012 | |||||
Net sales | $ | 999,304 | |||
Net loss | $ | (8,923 | ) | ||
Adjustments to the pro forma net loss for the nine months ended September 30, 2012 were: i) the exclusion of $17,277 of acquisition-related costs, ii) the inclusion of $454 of net expense related to fair value adjustments to acquisition-date net assets acquired and iii) the exclusion of $21,288 of net expense related to merger financing transactions, including debt extinguishment costs, interest expense and amortization of deferred financing costs. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
3. Inventories | |||||||||
The composition of inventories is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 44,840 | $ | 42,149 | |||||
Work in process | 36,177 | 34,136 | |||||||
Finished goods | 39,638 | 34,744 | |||||||
Total | $ | 120,655 | $ | 111,029 | |||||
Inventories are stated at the lower of cost (valued using the first-in, first-out and average cost methods) or market. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
4. Property, Plant and Equipment | |||||||||
The composition of property, plant and equipment is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 142,531 | $ | 126,142 | |||||
Machinery, equipment and systems | 747,465 | 718,321 | |||||||
Leasehold improvements | 86,533 | 84,197 | |||||||
Construction in progress | 27,813 | 24,848 | |||||||
1,004,342 | 953,508 | ||||||||
Less: Accumulated depreciation | (577,862 | ) | (525,540 | ) | |||||
Total | $ | 426,480 | $ | 427,968 |
Credit_Facilities_and_Longterm
Credit Facilities and Long-term Debt | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Credit Facilities and Long-term Debt | ' | ||||||||
5. Credit Facilities and Long-term Debt | |||||||||
The composition of long-term debt is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Senior Secured Notes due 2019 | $ | 550,000 | $ | 550,000 | |||||
Senior Secured 2010 Credit Facility | — | — | |||||||
North America Mortgage Loans | 12,724 | 14,125 | |||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | |||||||
Capital leases | 691 | 676 | |||||||
Senior Subordinated Convertible Notes due 2013 | — | 895 | |||||||
573,415 | 575,696 | ||||||||
Less: Current maturities | (11,385 | ) | (12,250 | ) | |||||
$ | 562,030 | $ | 563,446 | ||||||
As of September 30, 2013, $10,000 was outstanding under the Company’s various credit facilities, the Company had issued letters of credit totaling $1,501, and approximately $104,162 of the credit facilities were unused and available. | |||||||||
Senior Subordinated Convertible Notes due 2013 | |||||||||
On May 15, 2013, the Company redeemed all of its outstanding Senior Subordinated Convertible Notes due 2013 upon their maturity. |
Restructuring_and_Impairment
Restructuring and Impairment | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||||||
Restructuring and Impairment | ' | ||||||||||||||||||||
6. Restructuring and Impairment | |||||||||||||||||||||
As of September 30, 2013, the reserve for restructuring charges included $1,224, $297 and $1,290 related to i) a staffing reduction plan in the Company’s Printed Circuit Boards segment which was announced in 2012, ii) the closure of its Huizhou, China PCB facility which ceased operations during 2012 and iii) plant shutdowns and downsizings which occurred in 2001 through 2005 as a result of the economic downturn that began in 2000. | |||||||||||||||||||||
The following tables summarize changes in the reserve for restructuring charges for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Reserve | Net | Cash | Adjustments | Reserve | |||||||||||||||||
at | Charges | Payments | at | ||||||||||||||||||
12/31/12 | 9/30/13 | ||||||||||||||||||||
Restructuring Activities: | |||||||||||||||||||||
Personnel and severance | $ | 3,758 | $ | (420 | ) | $ | (1,727 | ) | $ | — | $ | 1,611 | |||||||||
Lease and other contractual commitments | 1,610 | 767 | (1,212 | ) | 35 | (a) | 1,200 | ||||||||||||||
Total restructuring charges | $ | 5,368 | $ | 347 | $ | (2,939 | ) | $ | 35 | $ | 2,811 | ||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Reserve | Net | Cash | Adjustments | Reserve | |||||||||||||||||
at | Charges | Payments | at | ||||||||||||||||||
12/31/11 | 9/30/12 | ||||||||||||||||||||
Restructuring Activities: | |||||||||||||||||||||
Personnel and severance | $ | 190 | $ | 15,480 | $ | (7,982 | ) | $ | — | $ | 7,688 | ||||||||||
Lease and other contractual commitments | 952 | 693 | (400 | ) | 43 | (a) | 1,288 | ||||||||||||||
Asset impairment | — | 2,252 | — | (2,252 | ) | — | |||||||||||||||
Total restructuring charges | $ | 1,142 | $ | 18,425 | $ | (8,382 | ) | $ | (2,209 | ) | $ | 8,976 | |||||||||
(a) | Represents accretion of interest on discounted restructuring liabilities. | ||||||||||||||||||||
During the three and nine months ended September 30, 2013, the Company incurred net restructuring charges of $347 in its Printed Circuit Boards segment which related to i) $338 of lease and moving costs for the relocation of its Anaheim, California facility, ii) $327 of moving costs related to the closure of the Company’s Huizhou, China facility and iii) $102 of costs related to fire damage at the Company’s Guangzhou, China PCB factory in 2012, partially offset by the reversal of $420 of accrued severance costs associated with the closure the Huizhou facility. | |||||||||||||||||||||
During the three and nine months ended September 30, 2012, the Company recognized $9,422 and $17,804, respectively, of restructuring charges in its Printed Circuit Boards segment and $58 and $621, respectively, of restructuring charges in its Assembly segment. Restructuring charges incurred in the Printed Circuit Boards segment during the three and nine months ended September 30, 2012, included i) $1,992 and $10,150, respectively, related to the closure of its Huizhou, China facility, ii) $544 and $768, respectively, associated with integrating the newly acquired DDi business, iii) $5,949 in both the three and nine month periods related to general cost savings and iv) a $937 impairment charge in both the three and nine month periods related to inventory damaged in a fire at its Guangzhou, China PCB facility. Restructuring and impairment charges incurred in the Assembly segment during the three and nine months ended September 30, 2012, related to general cost savings which primarily included the closure of the Company’s Qingdao, China facility. |
Derivative_Financial_Instrumen
Derivative Financial Instruments and Cash Flow Hedging Strategy | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||
Derivative Financial Instruments and Cash Flow Hedging Strategy | ' | ||||||||
7. Derivative Financial Instruments and Cash Flow Hedging Strategy | |||||||||
The Company uses foreign exchange forward contracts and cross-currency swaps that are designated and qualify as cash flow hedges to manage certain of its foreign exchange rate risks. The Company’s objective is to limit potential losses in earnings or cash flows from adverse foreign currency exchange rate movements. The Company’s foreign currency exposure arises from transacting business in currencies other than the U.S. dollar, primarily the Chinese Renminbi (“RMB”). | |||||||||
The Company enters into foreign exchange forward contracts and cross-currency swaps after considering expected future use of foreign currencies, desired foreign exchange rate sensitivities and the foreign exchange rate environment. Prior to entering into a hedge transaction, the Company documents the relationship between hedging instruments to be used and the hedged items, as well as the risk management objective for undertaking the hedge transactions. The Company generally does not hedge its exposure to the exchange rate variability of future cash flows beyond the end of its next fiscal year. | |||||||||
The Company recognizes all such derivative contracts as either assets or liabilities on the balance sheet and measures those instruments at fair value through adjustments to other comprehensive income, current earnings, or both, as appropriate. Accumulated other comprehensive income as of September 30, 2013 and December 31, 2012, included net deferred gains on derivatives of $1,908 (net of taxes of $122) and $1,340 (net of taxes of $0), respectively. | |||||||||
The Company records deferred gains and losses related to cash flow hedges based on the fair value of open derivative contracts on the reporting date, as determined using a market approach and Level 2 inputs (see Note 1). As of September 30, 2013 and December 31, 2012, all of the Company’s derivative contracts were in the form of Chinese RMB foreign exchange forward contracts and cross-currency swaps which were designated and qualified as cash flow hedging instruments. The following table summarizes the Company’s outstanding derivative contracts: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Notional amount in thousands of Chinese RMB | 930,476 | 1,200,000 | |||||||
Weighted average remaining maturity in months | 5.7 | 6.1 | |||||||
Weighted average exchange rate to one U.S. Dollar | 6.24 | 6.36 | |||||||
Realized gains or losses from the settlement of foreign exchange forward contracts and cross-currency swap contracts are recognized in earnings in the same period the hedged foreign currency cash flow affects earnings. For the three and nine months ended September 30, 2013, gains of $1,706 and $3,551, respectively, were recorded in cost of goods sold related to foreign currency cash flow hedges. For the three and nine months ended September 30, 2012, gains of $47 and $1,482, respectively, were recorded in cost of goods sold related to the settlement of foreign currency cash flow hedges. |
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock-based Compensation | ' | ||||||||||||||||||||||||
8. Stock-based Compensation | |||||||||||||||||||||||||
Stock compensation expense recognized in the condensed consolidated statements of operations and comprehensive (loss) income was as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Cost of goods sold | $ | 171 | $ | 170 | $ | 531 | $ | 485 | |||||||||||||||||
Selling, general and administrative | 2,259 | 2,530 | 7,704 | 7,405 | |||||||||||||||||||||
$ | 2,430 | $ | 2,700 | $ | 8,235 | $ | 7,890 | ||||||||||||||||||
Stock Options | |||||||||||||||||||||||||
The following table summarizes the stock option activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||
Outstanding at beginning of year | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | |||||||||||||||||||
Granted | 22,500 | 13.47 | 403,962 | 17.72 | |||||||||||||||||||||
Exercised | — | — | — | — | |||||||||||||||||||||
Forfeited | (151,055 | ) | 114.49 | (41,598 | ) | 63.6 | |||||||||||||||||||
Outstanding at September 30, | 1,900,455 | $ | 25.05 | 2,039,176 | $ | 31.81 | |||||||||||||||||||
Options exercisable at September 30, | 1,652,110 | $ | 26.15 | 1,263,155 | $ | 39.54 | |||||||||||||||||||
The weighted average fair value of stock options granted during the nine months ended September 30, 2013 and 2012, was $5.95 and $8.87, respectively, estimated on the date of the grants using the Black-Scholes option pricing model with the following assumptions: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Expected life of options | 4.3 years | 4.3 years | |||||||||||||||||||||||
Risk free interest rate | 0.75% to 0.88% | 0.71% to 0.85% | |||||||||||||||||||||||
Expected volatility of stock | 54.66% to 54.94% | 62.12% to 67.05% | |||||||||||||||||||||||
Expected dividend yield | None | None | |||||||||||||||||||||||
For stock options granted during the nine months ended September 30, 2013, the Company estimated the expected volatility of the underlying shares using its historical stock performance. In prior periods, as there was insufficient historical data about the Company’s common stock performance, the Company estimated the expected volatility of the underlying shares based on the blended historical stock volatility of peer companies. The Company estimated the expected life of new option grants using the simplified method. | |||||||||||||||||||||||||
The following table summarizes information regarding outstanding stock options as of September 30, 2013: | |||||||||||||||||||||||||
Outstanding | Exercisable | ||||||||||||||||||||||||
Exercise Price | Number of | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Options | Average | Average | of | Average | Average | ||||||||||||||||||||
Remaining | Exercise | Options | Remaining | Exercise | |||||||||||||||||||||
Contractual | Price | Contractual | Price | ||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||
$ 12.66 to $18.94 | 438,295 | 5.41 years | $ | 17.21 | 239,038 | 5.23 years | $ | 17.4 | |||||||||||||||||
$ 20.38 to $21.04 | 499,863 | 4.27 years | 20.41 | 455,863 | 4.26 years | 20.4 | |||||||||||||||||||
$ 21.88 to $24.00 | 894,176 | 3.52 years | 21.89 | 889,088 | 3.51 years | 21.89 | |||||||||||||||||||
$150.99 | 68,121 | 2.20 years | 150.99 | 68,121 | 2.20 years | 150.99 | |||||||||||||||||||
1,900,455 | 4.10 years | $ | 25.05 | 1,652,110 | 3.91 years | $ | 26.15 | ||||||||||||||||||
Restricted Stock Awards | |||||||||||||||||||||||||
The following table summarizes restricted stock award activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Grant Date | Grant Date | ||||||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Nonvested at beginning of year | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | |||||||||||||||||||
Granted | 203,089 | 13.5 | 240,825 | 19.02 | |||||||||||||||||||||
Vested | (236,237 | ) | 16.53 | (10,406 | ) | 18.13 | |||||||||||||||||||
Forfeited | (10,000 | ) | 16.74 | (4,079 | ) | 20.72 | |||||||||||||||||||
Nonvested at September 30, | 586,287 | $ | 17.49 | 631,935 | $ | 18.4 | |||||||||||||||||||
As of the vesting date, the total fair value of restricted stock awards which vested during the nine months ended September 30, 2013, was $2,754. | |||||||||||||||||||||||||
Performance Share Units | |||||||||||||||||||||||||
For performance share units with market conditions, such as those that include performance conditions related to attaining a specific stock price, the grant date fair value of awards is expensed ratably over the requisite service period. For performance share units without market conditions, the grant date fair value of awards is expensed ratably over the requisite service period based on the probability of achieving the performance objectives, with changes in expectations recognized as an adjustment to earnings in the period of the change. Performance share units vest only if performance objectives are achieved, and vested shares may range from zero to 200% of the original grant, depending upon the terms of the respective awards and the actual results compared with the performance objectives. | |||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Company granted performance share units with market conditions. The weighted average per share fair value of these grants was $16.57, estimated using the Monte Carlo simulation model. | |||||||||||||||||||||||||
The following table summarizes performance share unit activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Grant Date | Grant Date | ||||||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Nonvested, beginning of year | 139,343 | $ | 18.42 | — | $ | — | |||||||||||||||||||
Granted | 427,736 | 16.57 | 139,343 | 18.42 | |||||||||||||||||||||
Vested | — | — | — | — | |||||||||||||||||||||
Forfeited | — | — | — | — | |||||||||||||||||||||
Nonvested, at September 30, | 567,079 | $ | 17.02 | 139,343 | $ | 18.42 | |||||||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
9. Income Taxes | |
The Company’s income tax provision relates to i) taxes provided on its pre-tax earnings based on the estimated annual effective tax rates in the jurisdictions where the income is earned and ii) other tax matters, including changes in tax-related contingencies and changes in the valuation allowance established for deferred tax assets. Taxes provided on pre-tax income relate primarily to the Company’s profitable operations in China. Because of substantial net operating loss carryforwards related to the U.S. and other tax jurisdictions, the Company has not recognized income tax benefits in those jurisdictions for these losses. | |
For the three and nine months ended September 30, 2013, the Company’s tax provision includes net expense of $2,006 and $5,933 related to pre-tax earnings, and net expense of $526 and $1,654 related to other tax matters, including reversals of $113 and $325 of uncertain tax positions due to the lapse of the applicable statute of limitations. For the three and nine months ended September 30, 2012, the Company’s tax provision included net expense of $1,534 and $10,375, respectively, related to its pre-tax earnings and a net expense (benefit) of $655 and $(628), respectively, related to other tax matters. As a result of impacts to profitability from the DDi Acquisition and the redemption of the 2015 Notes, the Company changed its judgment of the expected realization of tax loss carryforwards, and for the nine months ended September 30, 2012, the portion of the tax provision related to pre-tax earnings included an increase to the valuation allowance for deferred tax assets of $3,700. For the nine months ended September 30, 2012, the portion of the tax provision related to other tax matters included reversals of $2,666 of uncertain tax positions due to lapsing of the applicable statute of limitations. |
Business_Segment_Information
Business Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segment Information | ' | ||||||||||||||||
10. Business Segment Information | |||||||||||||||||
The Company operates in two segments: i) Printed Circuit Boards and ii) Assembly. The Printed Circuit Boards segment consists of printed circuit board manufacturing facilities located in the United States, Canada and China. These facilities manufacture double-sided and multi-layer printed circuit boards and backpanels. The Assembly segment consists of assembly operations including backpanel assembly, printed circuit board assembly, cable assembly, custom enclosure fabrication, and full system assembly and testing. The assembly operations are conducted in manufacturing facilities in China and Mexico. Assets and liabilities of the Company’s corporate headquarters, along with those of its closed printed circuit board and assembly operations, have not been allocated and remain in “Other” for purpose of segment disclosures. Operating expenses of the Company’s corporate headquarters are allocated to each segment based on a number of factors, including relative sales contributions. Expenses related to acquisitions and equity registrations are reported in “Other” for purpose of segment disclosures. | |||||||||||||||||
Total assets by segment are as follows: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Printed Circuit Boards | $ | 966,564 | $ | 955,618 | |||||||||||||
Assembly | 101,775 | 87,280 | |||||||||||||||
Other | 51,899 | 63,283 | |||||||||||||||
Total assets | $ | 1,120,238 | $ | 1,106,181 | |||||||||||||
Net sales and operating income (loss) by segment, together with a reconciliation to loss before income taxes, are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net sales to external customers: | |||||||||||||||||
Printed Circuit Boards | $ | 256,808 | $ | 269,497 | $ | 738,528 | $ | 722,982 | |||||||||
Assembly | 52,364 | 57,855 | 129,137 | 163,320 | |||||||||||||
Total | $ | 309,172 | $ | 327,352 | $ | 867,665 | $ | 886,302 | |||||||||
Intersegment sales: | |||||||||||||||||
Printed Circuit Boards | $ | 3,202 | $ | 1,758 | $ | 8,660 | $ | 5,790 | |||||||||
Assembly | — | — | — | — | |||||||||||||
Total | $ | 3,202 | $ | 1,758 | $ | 8,660 | $ | 5,790 | |||||||||
Operating income (loss): | |||||||||||||||||
Printed Circuit Boards | $ | 5,727 | $ | 2,969 | $ | 14,106 | $ | 25,064 | |||||||||
Assembly | 825 | 1,615 | (298 | ) | 2,407 | ||||||||||||
Other | (193 | ) | (225 | ) | (348 | ) | (9,215 | ) | |||||||||
Total | 6,359 | 4,359 | 13,460 | 18,256 | |||||||||||||
Interest expense, net | 11,159 | 11,257 | 33,617 | 30,753 | |||||||||||||
Amortization of deferred financing costs | 725 | 730 | 2,174 | 2,000 | |||||||||||||
Loss on early extinguishment of debt | — | — | — | 24,234 | |||||||||||||
Other, net | 975 | (272 | ) | 2,664 | (758 | ) | |||||||||||
Loss before income taxes | $ | (6,500 | ) | $ | (7,356 | ) | $ | (24,995 | ) | $ | (37,973 | ) | |||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||||||
11. Accumulated Other Comprehensive Income | |||||||||||||||||||||||||
Changes in accumulated other comprehensive income, by component, for the three and nine months ended September 30, 2013 and 2012, were as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Cash Flow | Foreign | Total | Cash Flow | Foreign | Total | ||||||||||||||||||||
Hedges | Currency | Hedges | Currency | ||||||||||||||||||||||
(see Note 7) | Translation | (see Note 7) | Translation | ||||||||||||||||||||||
Accumulated other comprehensive income at beginning of period | $ | 2,263 | $ | 7,528 | $ | 9,791 | $ | 1,340 | $ | 7,528 | $ | 8,868 | |||||||||||||
Other comprehensive income, net of tax and before reclassifications | 1,351 | — | 1,351 | 4,119 | — | 4,119 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | (1,706 | ) | — | (1,706 | ) | (3,551 | ) | — | (3,551 | ) | |||||||||||||||
Other comprehensive (loss) income, net of tax | (355 | ) | — | (355 | ) | 568 | — | 568 | |||||||||||||||||
Accumulated other comprehensive income at September 30, 2013 | $ | 1,908 | $ | 7,528 | $ | 9,436 | $ | 1,908 | $ | 7,528 | $ | 9,436 | |||||||||||||
Other comprehensive (loss) income for the three and nine months ended September 30, 2013, was net of taxes of $110 and $122, respectively. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Cash Flow | Foreign | Total | Cash Flow | Foreign | Total | ||||||||||||||||||||
Hedges | Currency | Hedges | Currency | ||||||||||||||||||||||
(see Note 7) | Translation | (see Note 7) | Translation | ||||||||||||||||||||||
Accumulated other comprehensive income at beginning of period | $ | (2,064 | ) | $ | 7,528 | $ | 5,464 | $ | 527 | $ | 7,528 | $ | 8,055 | ||||||||||||
Other comprehensive income, net of tax and before reclassifications | 1,460 | — | 1,460 | 304 | — | 304 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | (47 | ) | — | (47 | ) | (1,482 | ) | — | (1,482 | ) | |||||||||||||||
Other comprehensive income (loss), net of tax | 1,413 | — | 1,413 | (1,178 | ) | — | (1,178 | ) | |||||||||||||||||
Accumulated other comprehensive income (loss) September 30, 2013 | $ | (651 | ) | $ | 7,528 | $ | 6,877 | $ | (651 | ) | $ | 7,528 | $ | 6,877 | |||||||||||
Other comprehensive income (loss) for the three and nine months ended September 30, 2012, was net of taxes of $80 and $484, respectively. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Unaudited Interim Condensed Consolidated Financial Statements | ' | ||||||||||||||||
Unaudited Interim Condensed Consolidated Financial Statements | |||||||||||||||||
The unaudited interim condensed consolidated financial statements of Viasystems Group, Inc. and its subsidiaries (“Viasystems” or the “Company”) reflect all adjustments consisting only of normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of financial position, results of operations and cash flows. The results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for a full fiscal year. These condensed consolidated financial 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, 2012, filed with the Securities and Exchange Commission. | |||||||||||||||||
Nature of Business | ' | ||||||||||||||||
Nature of Business | |||||||||||||||||
Viasystems is a leading worldwide provider of complex multi-layer printed circuit boards (“PCBs”) and electro-mechanical solutions (“E-M Solutions”). The Company’s products are used in a wide range of applications including, for example, automotive engine controls and safety systems, data networking equipment, telecommunications switching equipment, complex medical, technical and industrial instruments, and flight control systems. | |||||||||||||||||
Principles of Consolidation | ' | ||||||||||||||||
Principles of Consolidation | |||||||||||||||||
The accompanying condensed consolidated financial statements include the accounts of Viasystems Group, Inc. and its wholly-owned and majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||||||
Use of Estimates | ' | ||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect i) the reported amounts of assets and liabilities, ii) the disclosure of contingent assets and liabilities at the date of the financial statements and iii) the reported amounts of revenues and expenses during the reporting period. | |||||||||||||||||
Estimates and assumptions are used in accounting for the following significant matters, among others: | |||||||||||||||||
• | allowances for doubtful accounts; | ||||||||||||||||
• | inventory valuation; | ||||||||||||||||
• | fair value of derivative instruments and related hedged items; | ||||||||||||||||
• | fair value of assets acquired and liabilities assumed in acquisitions; | ||||||||||||||||
• | useful lives of property, plant, equipment and intangible assets; | ||||||||||||||||
• | long-lived and intangible asset impairments; | ||||||||||||||||
• | restructuring charges; | ||||||||||||||||
• | warranty and product returns allowances; | ||||||||||||||||
• | deferred compensation agreements; | ||||||||||||||||
• | tax related items; | ||||||||||||||||
• | contingencies; and | ||||||||||||||||
• | fair value of awards granted under the Company’s stock-based compensation plans. | ||||||||||||||||
Actual results may differ from previously estimated amounts, and such differences may be material to the Company’s condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the condensed consolidated financial statements in the period in which the revision is made. The Company does not consider as material any revisions made to estimates or assumptions during the periods presented in the accompanying condensed consolidated financial statements. | |||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | ' | ||||||||||||||||
Cash and Cash Equivalents and Restricted Cash | |||||||||||||||||
The Company considers short-term highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. | |||||||||||||||||
Commitments and Contingencies | ' | ||||||||||||||||
Commitments and Contingencies | |||||||||||||||||
The Company is a party to contracts with third party consultants, independent contractors and other service providers in which the Company has agreed to indemnify such parties against certain liabilities in connection with their performance. Based on historical experience and the likelihood that such parties will assert a claim against the Company, in the opinion of the Company’s management, the ultimate liabilities resulting from such indemnification obligations will not have a material adverse effect on its business, financial condition, results of operations or cash flows. | |||||||||||||||||
The Company is a party to agreements with third parties in which the Company has agreed to indemnify such parties against certain liabilities in connection with claims by unrelated parties. At September 30, 2013 and December 31, 2012, other non-current liabilities include $10,905 and $11,314, respectively, of accruals for potential claims in connection with such indemnities. | |||||||||||||||||
Viasystems’ certificate of incorporation provides that none of the directors and officers of the Company bear the risk of personal liability for monetary damages for breach of fiduciary duty as a director or officer, except in cases where the action involves a breach of the duty of loyalty, acts or omissions not in good faith or involving intentional misconduct or knowing violation of the law, the unlawful payment of dividends or repurchasing of capital stock, or transactions from which the director or officer derived improper personal benefits. | |||||||||||||||||
The Company is subject to various lawsuits and claims with respect to such matters as product liability, product development and other actions arising in the normal course of business. In the opinion of the Company’s management, the ultimate liabilities resulting from such lawsuits and claims will not have a material adverse effect on its business, financial condition, results of operations or cash flows. | |||||||||||||||||
Earnings or Loss Per Share | ' | ||||||||||||||||
Earnings or Loss Per Share | |||||||||||||||||
The Company computes basic earnings per share by dividing its net income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share is based on the weighted average number of common shares outstanding during the period plus, to the extent they are dilutive, common equivalent shares (consisting primarily of employee stock options, unvested restricted stock awards and unvested performance share units). The potentially dilutive impact of the Company’s share-based compensation is determined using the treasury stock method. | |||||||||||||||||
The components used in the computation of basic and diluted loss per share attributable to common stockholders were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net loss attributable to common stockholders | $ | (9,153 | ) | $ | (9,788 | ) | $ | (32,977 | ) | $ | (47,739 | ) | |||||
Weighted average number of shares—basic | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Dilutive effect of stock options | — | — | — | — | |||||||||||||
Dilutive effect of restricted stock awards | — | — | — | — | |||||||||||||
Dilutive effect of performance share units | — | — | — | — | |||||||||||||
Weighted average number of shares—diluted | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Basic loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
Diluted loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
For the three and nine months ended September 30, 2013, the calculation of diluted weighted average shares outstanding excludes i) the effect of performance share units representing a maximum of 987,147 shares of common stock, ii) options to purchase 1,900,455 shares of common stock, iii) unvested restricted stock awards of 586,287, and iv) convertible debt through the date it was retired (see Note 5), which was convertible into 6,593 shares of common stock. For the three and nine months ended September 30, 2012, the calculation of diluted weighted average shares outstanding excludes i) the effect of performance share units representing a maximum of 278,686 shares of common stock, ii) the effect of options to purchase 2,039,176 shares of common stock, iii) unvested restricted stock awards of 631,935 and iv) debt which was convertible into 6,593 shares of common stock. | |||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The Company measures the fair value of assets and liabilities using a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: Level 1—observable inputs such as quoted prices in active markets; Level 2—inputs, other than quoted market prices in active markets, which are observable, either directly or indirectly; and Level 3—valuations derived from valuation techniques in which one or more significant inputs are unobservable. In addition, the Company may use various valuation techniques including the market approach, using comparable market prices; the income approach, using present value of future income or cash flow; and the cost approach, using the replacement cost of assets. | |||||||||||||||||
The Company records deferred gains and losses related to cash flow hedges based on the fair value of active derivative contracts on the reporting date, as determined using a market approach (see Note 7). As quoted prices in active markets are not available for identical contracts, Level 2 inputs are used to determine fair value. These inputs include quotes for similar but not identical derivative contracts, market interest rates that are corroborated with publicly available market information and third party credit ratings for the counterparties to our derivative contracts. When applicable, all such contracts covered by master netting agreements are reported net, with gross positive fair values netted with gross negative fair values by counterparty. | |||||||||||||||||
In addition to cash flow hedges, the Company’s financial instruments consist of cash equivalents, accounts receivable, long-term debt and other long-term obligations. For cash equivalents, accounts receivable and other long-term obligations, the carrying amounts approximate fair market value. The estimated fair values of the Company’s debt instruments and cash flow hedges as of September 30, 2013, and December 31, 2012, are as follows: | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 583,000 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 12,344 | 12,724 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | — | — | |||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,999 | 1,999 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | (41 | ) | (41 | ) | Prepaid expenses and other | ||||||||||||
Cash flow hedges – long-term deferred gain contracts | 72 | 72 | Other assets | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 543,125 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 14,128 | 14,125 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | 895 | 895 | Long-term debt, less current maturities | ||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,340 | 1,340 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | — | — | |||||||||||||||
Cash flow hedges – long-term deferred gain contracts | — | — | |||||||||||||||
The Company determined the fair value of the Senior Secured Notes due 2019 using Level 1 inputs—quoted market prices for the notes. The Company determined the fair value of the North America Mortgage Loans and Zhongshan 2010 Credit Facility using Level 2 inputs, and estimated the fair value based on discounted future cash flows using a discount rate that approximates the current effective borrowing rate for comparable loans. | |||||||||||||||||
Noncontrolling Interest | ' | ||||||||||||||||
Noncontrolling Interest | |||||||||||||||||
The Company owns a majority interest in its subsidiary that operates a manufacturing facility in Huiyang, China, and a noncontrolling interest holder owns 5% of this subsidiary. During the first five months of 2012, the Company also owned a majority interest in its subsidiary that operated a manufacturing facility in Huizhou, China, and the same noncontrolling interest holder owned 15% of that subsidiary. In connection with the closure of the Huizhou facility in 2012, the Company purchased the 15% noncontrolling interest which increased the Company’s ownership to 100%. Noncontrolling interest is reported as a component of equity, and net income attributable to the noncontrolling interest is reported as a reduction from net income to arrive at net income attributable to the Company’s common stockholders. | |||||||||||||||||
The Company purchases consulting and other services from the noncontrolling interest holder related to the Huiyang facility. During the three and nine months ended September 30, 2013, the Company paid the noncontrolling interest holder $29 and $85, respectively, related to these services. During the three and nine months ended September 30, 2012, the Company paid the noncontrolling interest holder $29 and $87, respectively, related to these services. | |||||||||||||||||
During 2012, the Company leased the Huizhou facility and purchased consulting and other services from the noncontrolling interest holder related to the Huizhou facility. During the three and nine months ended September 30, 2012, the Company paid the noncontrolling interest holder $186 and $546 for rental and service fees. | |||||||||||||||||
A reconciliation of noncontrolling interest for the nine months ended September 30, 2013 and 2012, is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance, beginning of year | $ | 2,330 | $ | 3,665 | |||||||||||||
Net income attributable to noncontrolling interest | 395 | 19 | |||||||||||||||
Purchase of noncontrolling interest in Huizhou, China facility | — | (1,157 | ) | ||||||||||||||
Balance, September 30, | $ | 2,725 | $ | 2,527 | |||||||||||||
Recently Adopted Accounting Pronouncements | ' | ||||||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||||||
On January 1, 2013, the Company adopted a new accounting standard which requires the Company to disclose additional information about financial instruments that have been offset on its balance sheet. Assets and liabilities for financial instruments, such as cash flow hedge contracts, which are covered by master netting agreements are reported net, with gross positive fair values netted with gross negative fair values by counterparty. While the adoption of this standard impacts the Company’s disclosures, it does not change the way the Company accounts for such financial instruments and has no effect on the Company’s financial condition or results of operations. | |||||||||||||||||
On January 1, 2012, the Company adopted an accounting standard which changes the way accumulated other comprehensive income is presented in its financial statements and elected to begin reporting accumulated other comprehensive income in a continuous consolidated statement of operations and other comprehensive income. In addition, certain other aspects of the new standard were adopted on January 1, 2013, requiring additional disclosure about reclassification adjustments out of accumulated other comprehensive income. The adoption of this standard had no effect on the Company’s financial condition or results of operations (see Note 11). | |||||||||||||||||
Recently Issued Accounting Pronouncements | ' | ||||||||||||||||
Recently issued Accounting Pronouncements | |||||||||||||||||
In July 2013, the FASB issued a new accounting standard to provide guidance on the financial statement presentation of unrecognized tax benefits when a net operating loss carryforward exists. The new standard provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward if the settlement of such liability is required or expected in the event the uncertain tax position is disallowed. This standard will be applicable for the Company beginning in 2014, and the Company is evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements. |
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Components Used in Computation of Basic and Diluted Loss Per Share | ' | ||||||||||||||||
The components used in the computation of basic and diluted loss per share attributable to common stockholders were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net loss attributable to common stockholders | $ | (9,153 | ) | $ | (9,788 | ) | $ | (32,977 | ) | $ | (47,739 | ) | |||||
Weighted average number of shares—basic | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Dilutive effect of stock options | — | — | — | — | |||||||||||||
Dilutive effect of restricted stock awards | — | — | — | — | |||||||||||||
Dilutive effect of performance share units | — | — | — | — | |||||||||||||
Weighted average number of shares—diluted | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 | |||||||||||||
Basic loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
Diluted loss per share | $ | (0.45 | ) | $ | (0.49 | ) | $ | (1.64 | ) | $ | (2.39 | ) | |||||
Debt Instruments and Cash Flow Hedges | ' | ||||||||||||||||
The estimated fair values of the Company’s debt instruments and cash flow hedges as of September 30, 2013, and December 31, 2012, are as follows: | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 583,000 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 12,344 | 12,724 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | — | — | |||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,999 | 1,999 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | (41 | ) | (41 | ) | Prepaid expenses and other | ||||||||||||
Cash flow hedges – long-term deferred gain contracts | 72 | 72 | Other assets | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Fair Value | Carrying | Balance Sheet Classification | |||||||||||||||
Amount | |||||||||||||||||
Senior Secured Notes due 2019 | $ | 543,125 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||||
North America Mortgage Loans | 14,128 | 14,125 | Long-term debt, including current maturities | ||||||||||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | Current maturities of long-term debt | ||||||||||||||
Senior Subordinated Convertible Notes due 2013 | 895 | 895 | Long-term debt, less current maturities | ||||||||||||||
Cash flow hedges – current deferred gain contracts | 1,340 | 1,340 | Prepaid expenses and other | ||||||||||||||
Cash flow hedges – current deferred loss contracts | — | — | |||||||||||||||
Cash flow hedges – long-term deferred gain contracts | — | — | |||||||||||||||
Reconciliation of Noncontrolling Interest | ' | ||||||||||||||||
A reconciliation of noncontrolling interest for the nine months ended September 30, 2013 and 2012, is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance, beginning of year | $ | 2,330 | $ | 3,665 | |||||||||||||
Net income attributable to noncontrolling interest | 395 | 19 | |||||||||||||||
Purchase of noncontrolling interest in Huizhou, China facility | — | (1,157 | ) | ||||||||||||||
Balance, September 30, | $ | 2,725 | $ | 2,527 | |||||||||||||
The_DDi_Acquisition_Tables
The DDi Acquisition (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Unaudited Pro Forma Results of Operations | ' | ||||
The following table summarizes the unaudited pro forma results of operations: | |||||
Nine Months | |||||
Ended | |||||
September 30, | |||||
2012 | |||||
Net sales | $ | 999,304 | |||
Net loss | $ | (8,923 | ) | ||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
The composition of inventories is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 44,840 | $ | 42,149 | |||||
Work in process | 36,177 | 34,136 | |||||||
Finished goods | 39,638 | 34,744 | |||||||
Total | $ | 120,655 | $ | 111,029 | |||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Composition of Property, Plant and Equipment | ' | ||||||||
The composition of property, plant and equipment is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 142,531 | $ | 126,142 | |||||
Machinery, equipment and systems | 747,465 | 718,321 | |||||||
Leasehold improvements | 86,533 | 84,197 | |||||||
Construction in progress | 27,813 | 24,848 | |||||||
1,004,342 | 953,508 | ||||||||
Less: Accumulated depreciation | (577,862 | ) | (525,540 | ) | |||||
Total | $ | 426,480 | $ | 427,968 | |||||
Credit_Facilities_and_Longterm1
Credit Facilities and Long-term Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Composition of Long-Term Debt | ' | ||||||||
The composition of long-term debt is as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Senior Secured Notes due 2019 | $ | 550,000 | $ | 550,000 | |||||
Senior Secured 2010 Credit Facility | — | — | |||||||
North America Mortgage Loans | 12,724 | 14,125 | |||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | |||||||
Capital leases | 691 | 676 | |||||||
Senior Subordinated Convertible Notes due 2013 | — | 895 | |||||||
573,415 | 575,696 | ||||||||
Less: Current maturities | (11,385 | ) | (12,250 | ) | |||||
$ | 562,030 | $ | 563,446 | ||||||
Restructuring_and_Impairment_T
Restructuring and Impairment (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||||||
Changes in Reserve for Restructuring Charges | ' | ||||||||||||||||||||
The following tables summarize changes in the reserve for restructuring charges for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Reserve | Net | Cash | Adjustments | Reserve | |||||||||||||||||
at | Charges | Payments | at | ||||||||||||||||||
12/31/12 | 9/30/13 | ||||||||||||||||||||
Restructuring Activities: | |||||||||||||||||||||
Personnel and severance | $ | 3,758 | $ | (420 | ) | $ | (1,727 | ) | $ | — | $ | 1,611 | |||||||||
Lease and other contractual commitments | 1,610 | 767 | (1,212 | ) | 35 | (a) | 1,200 | ||||||||||||||
Total restructuring charges | $ | 5,368 | $ | 347 | $ | (2,939 | ) | $ | 35 | $ | 2,811 | ||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Reserve | Net | Cash | Adjustments | Reserve | |||||||||||||||||
at | Charges | Payments | at | ||||||||||||||||||
12/31/11 | 9/30/12 | ||||||||||||||||||||
Restructuring Activities: | |||||||||||||||||||||
Personnel and severance | $ | 190 | $ | 15,480 | $ | (7,982 | ) | $ | — | $ | 7,688 | ||||||||||
Lease and other contractual commitments | 952 | 693 | (400 | ) | 43 | (a) | 1,288 | ||||||||||||||
Asset impairment | — | 2,252 | — | (2,252 | ) | — | |||||||||||||||
Total restructuring charges | $ | 1,142 | $ | 18,425 | $ | (8,382 | ) | $ | (2,209 | ) | $ | 8,976 | |||||||||
(a) | Represents accretion of interest on discounted restructuring liabilities. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments and Cash Flow Hedging Strategy (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||
Outstanding Derivative Contracts | ' | ||||||||
instruments. The following table summarizes the Company’s outstanding derivative contracts: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Notional amount in thousands of Chinese RMB | 930,476 | 1,200,000 | |||||||
Weighted average remaining maturity in months | 5.7 | 6.1 | |||||||
Weighted average exchange rate to one U.S. Dollar | 6.24 | 6.36 |
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||
Stock compensation expense recognized in the condensed consolidated statements of operations and comprehensive (loss) income was as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Cost of goods sold | $ | 171 | $ | 170 | $ | 531 | $ | 485 | |||||||||||||||||
Selling, general and administrative | 2,259 | 2,530 | 7,704 | 7,405 | |||||||||||||||||||||
$ | 2,430 | $ | 2,700 | $ | 8,235 | $ | 7,890 | ||||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||||||||||
The following table summarizes the stock option activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||
Outstanding at beginning of year | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | |||||||||||||||||||
Granted | 22,500 | 13.47 | 403,962 | 17.72 | |||||||||||||||||||||
Exercised | — | — | — | — | |||||||||||||||||||||
Forfeited | (151,055 | ) | 114.49 | (41,598 | ) | 63.6 | |||||||||||||||||||
Outstanding at September 30, | 1,900,455 | $ | 25.05 | 2,039,176 | $ | 31.81 | |||||||||||||||||||
Options exercisable at September 30, | 1,652,110 | $ | 26.15 | 1,263,155 | $ | 39.54 | |||||||||||||||||||
Black-Scholes Option-Pricing Model | ' | ||||||||||||||||||||||||
The weighted average fair value of stock options granted during the nine months ended September 30, 2013 and 2012, was $5.95 and $8.87, respectively, estimated on the date of the grants using the Black-Scholes option pricing model with the following assumptions: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Expected life of options | 4.3 years | 4.3 years | |||||||||||||||||||||||
Risk free interest rate | 0.75% to 0.88% | 0.71% to 0.85% | |||||||||||||||||||||||
Expected volatility of stock | 54.66% to 54.94% | 62.12% to 67.05% | |||||||||||||||||||||||
Expected dividend yield | None | None | |||||||||||||||||||||||
Outstanding Stock Options | ' | ||||||||||||||||||||||||
The following table summarizes information regarding outstanding stock options as of September 30, 2013: | |||||||||||||||||||||||||
Outstanding | Exercisable | ||||||||||||||||||||||||
Exercise Price | Number of | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Options | Average | Average | of | Average | Average | ||||||||||||||||||||
Remaining | Exercise | Options | Remaining | Exercise | |||||||||||||||||||||
Contractual | Price | Contractual | Price | ||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||
$ 12.66 to $18.94 | 438,295 | 5.41 years | $ | 17.21 | 239,038 | 5.23 years | $ | 17.4 | |||||||||||||||||
$ 20.38 to $21.04 | 499,863 | 4.27 years | 20.41 | 455,863 | 4.26 years | 20.4 | |||||||||||||||||||
$ 21.88 to $24.00 | 894,176 | 3.52 years | 21.89 | 889,088 | 3.51 years | 21.89 | |||||||||||||||||||
$150.99 | 68,121 | 2.20 years | 150.99 | 68,121 | 2.20 years | 150.99 | |||||||||||||||||||
1,900,455 | 4.10 years | $ | 25.05 | 1,652,110 | 3.91 years | $ | 26.15 | ||||||||||||||||||
Restricted Stock Awards | ' | ||||||||||||||||||||||||
The following table summarizes restricted stock award activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Grant Date | Grant Date | ||||||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Nonvested at beginning of year | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | |||||||||||||||||||
Granted | 203,089 | 13.5 | 240,825 | 19.02 | |||||||||||||||||||||
Vested | (236,237 | ) | 16.53 | (10,406 | ) | 18.13 | |||||||||||||||||||
Forfeited | (10,000 | ) | 16.74 | (4,079 | ) | 20.72 | |||||||||||||||||||
Nonvested at September 30, | 586,287 | $ | 17.49 | 631,935 | $ | 18.4 | |||||||||||||||||||
Performance Share Unit | ' | ||||||||||||||||||||||||
The following table summarizes performance share unit activity for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Grant Date | Grant Date | ||||||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Nonvested, beginning of year | 139,343 | $ | 18.42 | — | $ | — | |||||||||||||||||||
Granted | 427,736 | 16.57 | 139,343 | 18.42 | |||||||||||||||||||||
Vested | — | — | — | — | |||||||||||||||||||||
Forfeited | — | — | — | — | |||||||||||||||||||||
Nonvested, at September 30, | 567,079 | $ | 17.02 | 139,343 | $ | 18.42 | |||||||||||||||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Total Assets by Segment | ' | ||||||||||||||||
Total assets by segment are as follows: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Printed Circuit Boards | $ | 966,564 | $ | 955,618 | |||||||||||||
Assembly | 101,775 | 87,280 | |||||||||||||||
Other | 51,899 | 63,283 | |||||||||||||||
Total assets | $ | 1,120,238 | $ | 1,106,181 | |||||||||||||
Net Sales and Operating Income (Loss) by Segment, together with Reconciliation to Loss Before Income Taxes | ' | ||||||||||||||||
Net sales and operating income (loss) by segment, together with a reconciliation to loss before income taxes, are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net sales to external customers: | |||||||||||||||||
Printed Circuit Boards | $ | 256,808 | $ | 269,497 | $ | 738,528 | $ | 722,982 | |||||||||
Assembly | 52,364 | 57,855 | 129,137 | 163,320 | |||||||||||||
Total | $ | 309,172 | $ | 327,352 | $ | 867,665 | $ | 886,302 | |||||||||
Intersegment sales: | |||||||||||||||||
Printed Circuit Boards | $ | 3,202 | $ | 1,758 | $ | 8,660 | $ | 5,790 | |||||||||
Assembly | — | — | — | — | |||||||||||||
Total | $ | 3,202 | $ | 1,758 | $ | 8,660 | $ | 5,790 | |||||||||
Operating income (loss): | |||||||||||||||||
Printed Circuit Boards | $ | 5,727 | $ | 2,969 | $ | 14,106 | $ | 25,064 | |||||||||
Assembly | 825 | 1,615 | (298 | ) | 2,407 | ||||||||||||
Other | (193 | ) | (225 | ) | (348 | ) | (9,215 | ) | |||||||||
Total | 6,359 | 4,359 | 13,460 | 18,256 | |||||||||||||
Interest expense, net | 11,159 | 11,257 | 33,617 | 30,753 | |||||||||||||
Amortization of deferred financing costs | 725 | 730 | 2,174 | 2,000 | |||||||||||||
Loss on early extinguishment of debt | — | — | — | 24,234 | |||||||||||||
Other, net | 975 | (272 | ) | 2,664 | (758 | ) | |||||||||||
Loss before income taxes | $ | (6,500 | ) | $ | (7,356 | ) | $ | (24,995 | ) | $ | (37,973 | ) | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Summary of Changes in Accumulated Other Comprehensive Income, by Component | ' | ||||||||||||||||||||||||
Changes in accumulated other comprehensive income, by component, for the three and nine months ended September 30, 2013 and 2012, were as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Cash Flow | Foreign | Total | Cash Flow | Foreign | Total | ||||||||||||||||||||
Hedges | Currency | Hedges | Currency | ||||||||||||||||||||||
(see Note 7) | Translation | (see Note 7) | Translation | ||||||||||||||||||||||
Accumulated other comprehensive income at beginning of period | $ | 2,263 | $ | 7,528 | $ | 9,791 | $ | 1,340 | $ | 7,528 | $ | 8,868 | |||||||||||||
Other comprehensive income, net of tax and before reclassifications | 1,351 | — | 1,351 | 4,119 | — | 4,119 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | (1,706 | ) | — | (1,706 | ) | (3,551 | ) | — | (3,551 | ) | |||||||||||||||
Other comprehensive (loss) income, net of tax | (355 | ) | — | (355 | ) | 568 | — | 568 | |||||||||||||||||
Accumulated other comprehensive income at September 30, 2013 | $ | 1,908 | $ | 7,528 | $ | 9,436 | $ | 1,908 | $ | 7,528 | $ | 9,436 | |||||||||||||
Other comprehensive (loss) income for the three and nine months ended September 30, 2013, was net of taxes of $110 and $122, respectively. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Cash Flow | Foreign | Total | Cash Flow | Foreign | Total | ||||||||||||||||||||
Hedges | Currency | Hedges | Currency | ||||||||||||||||||||||
(see Note 7) | Translation | (see Note 7) | Translation | ||||||||||||||||||||||
Accumulated other comprehensive income at beginning of period | $ | (2,064 | ) | $ | 7,528 | $ | 5,464 | $ | 527 | $ | 7,528 | $ | 8,055 | ||||||||||||
Other comprehensive income, net of tax and before reclassifications | 1,460 | — | 1,460 | 304 | — | 304 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | (47 | ) | — | (47 | ) | (1,482 | ) | — | (1,482 | ) | |||||||||||||||
Other comprehensive income (loss), net of tax | 1,413 | — | 1,413 | (1,178 | ) | — | (1,178 | ) | |||||||||||||||||
Accumulated other comprehensive income (loss) September 30, 2013 | $ | (651 | ) | $ | 7,528 | $ | 6,877 | $ | (651 | ) | $ | 7,528 | $ | 6,877 | |||||||||||
Other comprehensive income (loss) for the three and nine months ended September 30, 2012, was net of taxes of $80 and $484, respectively. |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | 31-May-12 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, except Share data, unless otherwise specified | Huiyang [Member] | Huiyang [Member] | Huiyang [Member] | Huiyang [Member] | Huizhou [Member] | Huizhou [Member] | Huizhou [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Unvested Restricted Stock [Member] | Unvested Restricted Stock [Member] | Unvested Restricted Stock [Member] | Unvested Restricted Stock [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other non-current liabilities | $10,905 | $11,314 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options to purchase shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,455 | 2,039,176 | 1,900,455 | 2,039,176 | 586,287 | 631,935 | 586,287 | 631,935 | 6,593 | 6,593 | 6,593 | 6,593 | 987,147 | 278,686 | 987,147 | 278,686 |
Noncontrolling interest purchased during period | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest holder retained an ownership | ' | ' | 5.00% | ' | 5.00% | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company's ownership | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid to noncontrolling interest holder | ' | ' | 29 | 29 | 85 | 87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid to noncontrolling interest holder, rental | ' | ' | ' | ' | ' | ' | 186 | 186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid to noncontrolling interest holder, service fees | ' | ' | ' | ' | ' | ' | $546 | $546 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_Componen
Basis of Presentation - Components Used in Computation of Basic and Diluted Loss Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Net loss attributable to common stockholders | ($9,153) | ($9,788) | ($32,977) | ($47,739) |
Weighted average number of shares-basic | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 |
Weighted average number of shares-diluted | 20,171,083 | 19,994,820 | 20,059,290 | 19,989,972 |
Basic loss per share | ($0.45) | ($0.49) | ($1.64) | ($2.39) |
Diluted loss per share | ($0.45) | ($0.49) | ($1.64) | ($2.39) |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' |
Performance Shares [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' |
Basis_of_Presentation_Debt_Ins
Basis of Presentation - Debt Instruments and Cash Flow Hedges (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Carrying Amount | $573,415 | $575,696 |
Senior Secured Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | 583,000 | 543,125 |
Debt instrument, Carrying Amount | 550,000 | 550,000 |
Senior Secured 2010 Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | ' | ' |
Debt instrument, Carrying Amount | ' | ' |
North America Mortgage Loans [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | 12,344 | 14,128 |
Debt instrument, Carrying Amount | 12,724 | 14,125 |
Zhongshan 2010 Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | 10,000 | 10,000 |
Debt instrument, Carrying Amount | 10,000 | 10,000 |
Senior Subordinated Convertible Notes Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | ' | 895 |
Debt instrument, Carrying Amount | ' | 895 |
Cash Flow Hedges [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Cash flow hedges - current deferred gain contracts, Fair Value | 1,999 | 1,340 |
Cash flow hedges - current deferred loss contracts, Fair Value | -41 | ' |
Cash flow hedges - current deferred gain contracts, Carrying Amount | 1,999 | 1,340 |
Cash flow hedges - current deferred loss contracts, Carrying Amount | -41 | ' |
Cash Flow Hedges [Member] | Other Assets [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Cash flow hedges - current deferred gain contracts, Fair Value | 72 | ' |
Cash flow hedges - current deferred gain contracts, Carrying Amount | $72 | ' |
Basis_of_Presentation_Reconcil
Basis of Presentation - Reconciliation of Noncontrolling Interest (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ' | ' |
Beginning Balance | ' | ' | $2,330 | $3,665 |
Net income attributable to noncontrolling interest | 121 | 243 | 395 | 19 |
Purchase of noncontrolling interest in Huizhou, China facility | ' | ' | ' | -1,157 |
Ending Balance | $2,725 | $2,527 | $2,725 | $2,527 |
The_DDi_Acquisition_Unaudited_
The DDi Acquisition - Unaudited Pro Forma Results of Operations (Detail) (DDi Acquisition [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
DDi Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Net sales | $999,304 |
Net loss | ($8,923) |
The_DDi_Acquisition_Additional
The DDi Acquisition - Additional Information (Detail) (DDi Acquisition [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
DDi Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Net loss, acquisition-related costs | $17,277 |
Net expense related to fair value adjustments to acquisition-date net assets acquired | 454 |
Net expense related to merger financing transactions, including debt extinguishment costs, interest expense and amortization of deferred financing costs | $21,288 |
Inventories_Inventories_Detail
Inventories - Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $44,840 | $42,149 |
Work in process | 36,177 | 34,136 |
Finished goods | 39,638 | 34,744 |
Total | $120,655 | $111,029 |
Property_Plant_and_Equipment_C
Property, Plant and Equipment - Composition of Property, Plant and Equipment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Machinery, equipment and systems | $747,465 | $718,321 |
Leasehold improvements | 86,533 | 84,197 |
Construction in progress | 27,813 | 24,848 |
Property, plant and equipment, Gross | 1,004,342 | 953,508 |
Less: Accumulated depreciation | -577,862 | -525,540 |
Total | 426,480 | 427,968 |
Land and Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, Gross | $142,531 | $126,142 |
Credit_Facilities_and_Longterm2
Credit Facilities and Long-term Debt - Composition of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | $573,415 | $575,696 |
Less: Current maturities | -11,385 | -12,250 |
Long-term debt, less current maturities | 562,030 | 563,446 |
Senior Secured Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | 550,000 | 550,000 |
Senior Secured 2010 Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | ' | ' |
Long-term debt, Gross | ' | ' |
North America Mortgage Loans [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | 12,724 | 14,125 |
Zhongshan 2010 Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | 10,000 | 10,000 |
Capital Leases [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | 691 | 676 |
Senior Subordinated Convertible Notes Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | ' | $895 |
Credit_Facilities_and_Longterm3
Credit Facilities and Long-term Debt - Additional Information (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
Credit facilities amount outstanding | $10,000 |
Line of credit issued letters of credit | 1,501 |
Credit facilities unused and available | $104,162 |
Restructuring_and_Impairment_A
Restructuring and Impairment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Assembly [Member] | Assembly [Member] | Huizhou [Member] | Huizhou [Member] | DDi Acquisition [Member] | DDi Acquisition [Member] | General Cost Savings [Member] | General Cost Savings [Member] | General Cost Savings [Member] | China PCB Facility [Member] | China PCB Facility [Member] | Huizhou Facility [Member] | Huizhou Facility [Member] | Plant Shutdowns and Downsizings [Member] | Anaheim California [Member] | Anaheim California [Member] | China PCB Factory Guangzhou [Member] | |||||||
Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | |||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve for restructuring charges | $2,811 | $8,976 | $2,811 | $8,976 | $5,368 | $1,142 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,224 | ' | ' | ' | ' | $297 | $297 | $1,290 | ' | ' | ' |
Restructuring charges | 347 | 9,480 | 347 | 18,425 | ' | ' | 347 | ' | 347 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 327 | 327 | ' | 338 | 338 | 102 |
Accrued severance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 420 | 420 | ' | ' | ' | ' |
Restructuring and impairment charges | ' | ' | ' | ' | ' | ' | ' | $9,422 | ' | $17,804 | $58 | $621 | $1,992 | $10,150 | $544 | $768 | ' | $5,949 | $5,949 | $937 | $937 | ' | ' | ' | ' | ' | ' |
Restructuring_and_Impairment_C
Restructuring and Impairment - Changes in Reserve for Restructuring Charges (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reserve | $5,368 | $1,142 |
Net Charges | 347 | 18,425 |
Cash Payments | -2,939 | -8,382 |
Adjustments | 35 | -2,209 |
Reserve | 2,811 | 8,976 |
Personnel and Severance [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reserve | 3,758 | 190 |
Net Charges | -420 | 15,480 |
Cash Payments | -1,727 | -7,982 |
Adjustments | ' | ' |
Reserve | 1,611 | 7,688 |
Lease and Other Contractual Commitments [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reserve | 1,610 | 952 |
Net Charges | 767 | 693 |
Cash Payments | -1,212 | -400 |
Adjustments | 35 | 43 |
Reserve | 1,200 | 1,288 |
Asset Impairments [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Reserve | ' | ' |
Net Charges | ' | 2,252 |
Cash Payments | ' | ' |
Adjustments | ' | -2,252 |
Reserve | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments and Cash Flow Hedging Strategy - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ' | ' | ' |
Deferred gains on derivatives | $1,908 | ' | $1,908 | ' | $1,340 |
Deferred gains on derivatives, tax | 122 | ' | 122 | ' | 0 |
Gain or loss forward contracts is recorded in cost of goods sold | $1,706 | $47 | $3,551 | $1,482 | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments and Cash Flow Hedging Strategy - Outstanding Derivative Contracts (Detail) (CNY) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Notional amount in thousands of Chinese RMB | 930,476 | 1,200,000 |
Weighted average remaining maturity in months | '5 years 8 months 12 days | '6 years 1 month 6 days |
Weighted average exchange rate to one U.S. Dollar | 6.24 | 6.36 |
Stockbased_Compensation_StockB
Stock-based Compensation - Stock-Based Compensation (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total Stock-based compensation expense | $2,430 | $2,700 | $8,235 | $7,890 |
Cost of Goods Sold [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total Stock-based compensation expense | 171 | 170 | 531 | 485 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total Stock-based compensation expense | $2,259 | $2,530 | $7,704 | $7,405 |
Stockbased_Compensation_Stock_
Stock-based Compensation - Stock Option Activity (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Outstanding at beginning of year, Shares | 2,029,010 | 1,676,812 |
Granted, Shares | 22,500 | 403,962 |
Exercised, Shares | ' | ' |
Forfeited, Shares | -151,055 | -41,598 |
Outstanding at September 30, Shares | 1,900,455 | 2,039,176 |
Options exercisable at September 30, Shares | 1,652,110 | 1,263,155 |
Outstanding at beginning of year, Weighted Average Exercise Price | $31.84 | $36 |
Granted, Weighted Average Exercise Price | $13.47 | $17.72 |
Exercised, Weighted Average Exercise Price | ' | ' |
Forfeited, Weighted Average Exercise Price | $114.49 | $63.60 |
Outstanding at September 30, Weighted Average Exercise Price | $25.05 | $31.81 |
Options exercisable at September 30, Weighted Average Exercise Price | $26.15 | $39.54 |
Stockbased_Compensation_Additi
Stock-based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted average fair value of options granted | $5.95 | $8.87 |
Fair value of restricted stock awards | $2,754 | ' |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Range of shares to vest | 0.00% | ' |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Range of shares to vest | 200.00% | ' |
Performance Shares [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted average fair value of options granted | $16.57 | $18.42 |
Stockbased_Compensation_BlackS
Stock-based Compensation - Black-Scholes Option-Pricing Model (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Expected life of options | '4 years 3 months 18 days | '4 years 3 months 18 days |
Risk free interest rate, minimum | 0.75% | 0.71% |
Risk free interest rate, maximum | 0.88% | 0.85% |
Expected volatility of stock, minimum | 54.66% | 62.12% |
Expected volatility of stock, maximum | 54.94% | 67.05% |
Expected dividend yield | ' | ' |
Stockbased_Compensation_Outsta
Stock-based Compensation - Outstanding Stock Options (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Range One [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, lower limit | $12.66 |
Exercise Price, upper limit | $18.94 |
Outstanding, Weighted Average Remaining Contractual Life | '5 years 4 months 28 days |
Outstanding, Number of Options | 438,295 |
Exercisable, Weighted Average Remaining Contractual Life | '5 years 2 months 23 days |
Outstanding, Weighted Average Exercise Price | $17.21 |
Exercisable, Weighted Average Exercise Price | $17.40 |
Exercisable, Number of Options | 239,038 |
Range Two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, lower limit | $20.38 |
Exercise Price, upper limit | $21.04 |
Outstanding, Weighted Average Remaining Contractual Life | '4 years 3 months 7 days |
Outstanding, Number of Options | 499,863 |
Exercisable, Weighted Average Remaining Contractual Life | '4 years 3 months 4 days |
Outstanding, Weighted Average Exercise Price | $20.41 |
Exercisable, Weighted Average Exercise Price | $20.40 |
Exercisable, Number of Options | 455,863 |
Range Three [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, lower limit | $21.88 |
Exercise Price, upper limit | $24 |
Outstanding, Weighted Average Remaining Contractual Life | '3 years 6 months 7 days |
Outstanding, Number of Options | 894,176 |
Exercisable, Weighted Average Remaining Contractual Life | '3 years 6 months 4 days |
Outstanding, Weighted Average Exercise Price | $21.89 |
Exercisable, Weighted Average Exercise Price | $21.89 |
Exercisable, Number of Options | 889,088 |
Range Four [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, upper limit | $150.99 |
Outstanding, Weighted Average Remaining Contractual Life | '2 years 2 months 12 days |
Outstanding, Number of Options | 68,121 |
Exercisable, Weighted Average Remaining Contractual Life | '2 years 2 months 12 days |
Outstanding, Weighted Average Exercise Price | $150.99 |
Exercisable, Weighted Average Exercise Price | $150.99 |
Exercisable, Number of Options | 68,121 |
Range Five [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding, Weighted Average Remaining Contractual Life | '4 years 1 month 6 days |
Outstanding, Number of Options | 1,900,455 |
Exercisable, Weighted Average Remaining Contractual Life | '3 years 10 months 28 days |
Outstanding, Weighted Average Exercise Price | $25.05 |
Exercisable, Weighted Average Exercise Price | $26.15 |
Exercisable, Number of Options | 1,652,110 |
Stockbased_Compensation_Restri
Stock-based Compensation - Restricted Stock Awards (Detail) (Restricted Stock [Member], USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Nonvested at beginning of year, Shares | 629,435 | 405,595 |
Granted, Shares | 203,089 | 240,825 |
Vested, Shares | -236,237 | -10,406 |
Forfeited, Shares | -10,000 | -4,079 |
Nonvested at September 30, Shares | 586,287 | 631,935 |
Nonvested at beginning of year, Weighted Average Grant Date Per Share Fair Value | $18.40 | $18.05 |
Granted, Weighted Average Grant Date Per Share Fair Value | $13.50 | $19.02 |
Vested, Weighted Average Grant Date Per Share Fair Value | $16.53 | $18.13 |
Forfeited, Weighted Average Grant Date Per Share Fair Value | $16.74 | $20.72 |
Nonvested at September 30, Weighted Average Grant Date Per Share Fair Value | $17.49 | $18.40 |
Stockbased_Compensation_Perfor
Stock-based Compensation - Performance Share Unit (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Weighted Average Grant Date Per Share Fair Value | $5.95 | $8.87 |
Performance Shares [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Nonvested at beginning of year, Shares | 139,343 | ' |
Granted, Shares | 427,736 | 139,343 |
Vested, Shares | ' | ' |
Forfeited, Shares | ' | ' |
Nonvested at September 30, Shares | 567,079 | 139,343 |
Nonvested at beginning of year, Weighted Average Grant Date Per Share Fair Value | $18.42 | ' |
Granted, Weighted Average Grant Date Per Share Fair Value | $16.57 | $18.42 |
Vested, Weighted Average Grant Date Per Share Fair Value | ' | ' |
Forfeited, Weighted Average Grant Date Per Share Fair Value | ' | ' |
Nonvested at September 30, Weighted Average Grant Date Per Share Fair Value | $17.02 | $18.42 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Net expense related to pretax earnings | $2,006 | $1,534 | $5,933 | $10,375 |
Net expense (benefit) related to other tax matters | 526 | 655 | 1,654 | -628 |
Reversal of uncertain tax positions | 113 | ' | 325 | 2,666 |
Increase to the valuation allowance for deferred tax assets | ' | ' | ' | $3,700 |
Business_Segment_Information_T1
Business Segment Information - Total Assets by Segment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | $1,120,238 | $1,106,181 |
Operating Segments [Member] | Printed Circuit Boards [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | 966,564 | 955,618 |
Operating Segments [Member] | Assembly [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | 101,775 | 87,280 |
Operating Segments [Member] | Other [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | $51,899 | $63,283 |
Business_Segment_Information_N
Business Segment Information - Net Sales and Operating Income (Loss) by Segment, together with Reconciliation to Loss Before Income Taxes (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales to external customers: | ' | ' | ' | ' |
Net sales | $309,172 | $327,352 | $867,665 | $886,302 |
Operating income (loss): | ' | ' | ' | ' |
Operating income (loss) | 6,359 | 4,359 | 13,460 | 18,256 |
Interest expense, net | 11,159 | 11,257 | 33,617 | 30,753 |
Amortization of deferred financing costs | 725 | 730 | 2,174 | 2,000 |
Loss on early extinguishment of debt | ' | ' | ' | 24,234 |
Other, net | 975 | -272 | 2,664 | -758 |
Loss before income taxes | -6,500 | -7,356 | -24,995 | -37,973 |
Operating Segments [Member] | ' | ' | ' | ' |
Net sales to external customers: | ' | ' | ' | ' |
Net sales | 309,172 | 327,352 | 867,665 | 886,302 |
Operating income (loss): | ' | ' | ' | ' |
Operating income (loss) | 6,359 | 4,359 | 13,460 | 18,256 |
Operating Segments [Member] | Printed Circuit Boards [Member] | ' | ' | ' | ' |
Net sales to external customers: | ' | ' | ' | ' |
Net sales | 256,808 | 269,497 | 738,528 | 722,982 |
Operating income (loss): | ' | ' | ' | ' |
Operating income (loss) | 5,727 | 2,969 | 14,106 | 25,064 |
Operating Segments [Member] | Assembly [Member] | ' | ' | ' | ' |
Net sales to external customers: | ' | ' | ' | ' |
Net sales | 52,364 | 57,855 | 129,137 | 163,320 |
Operating income (loss): | ' | ' | ' | ' |
Operating income (loss) | 825 | 1,615 | -298 | 2,407 |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' |
Operating income (loss): | ' | ' | ' | ' |
Operating income (loss) | -193 | -225 | -348 | -9,215 |
Intersegment Eliminations [Member] | ' | ' | ' | ' |
Intersegment sales: | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | 3,202 | 1,758 | 8,660 | 5,790 |
Intersegment Eliminations [Member] | Printed Circuit Boards [Member] | ' | ' | ' | ' |
Intersegment sales: | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | 3,202 | 1,758 | 8,660 | 5,790 |
Intersegment Eliminations [Member] | Assembly [Member] | ' | ' | ' | ' |
Intersegment sales: | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | ' | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Income, by Component (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | $9,791 | $5,464 | $8,868 | $8,055 |
Other comprehensive income, net of tax and before reclassifications | 1,351 | 1,460 | 4,119 | 304 |
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | -1,706 | -47 | -3,551 | -1,482 |
Other comprehensive income (loss), net of tax | -355 | 1,413 | 568 | -1,178 |
Accumulated other comprehensive income (loss) September 30, 2013 | 9,436 | 6,877 | 9,436 | 6,877 |
Cash Flow Hedges [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 2,263 | -2,064 | 1,340 | 527 |
Other comprehensive income, net of tax and before reclassifications | 1,351 | 1,460 | 4,119 | 304 |
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | -1,706 | -47 | -3,551 | -1,482 |
Other comprehensive income (loss), net of tax | -355 | 1,413 | 568 | -1,178 |
Accumulated other comprehensive income (loss) September 30, 2013 | 1,908 | -651 | 1,908 | -651 |
Foreign Currency Translation [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income at beginning of period | 7,528 | 7,528 | 7,528 | 7,528 |
Other comprehensive income, net of tax and before reclassifications | ' | ' | ' | ' |
Amounts reclassified from accumulated other comprehensive income, net of tax income, net of tax | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' |
Accumulated other comprehensive income (loss) September 30, 2013 | $7,528 | $7,528 | $7,528 | $7,528 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | ' | ' | ' | ' |
Other comprehensive income (loss) net of tax | $110 | $80 | $122 | $484 |