Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 10, 2014 | Jun. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'VIASYSTEMS GROUP INC | ' | ' |
Entity Central Index Key | '0001101169 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 20,799,047 | ' |
Entity Public Float | ' | ' | $52,143,122 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $54,738 | $74,816 |
Accounts receivable, net | 196,126 | 183,148 |
Inventories | 122,182 | 111,029 |
Deferred taxes | 9,361 | 7,806 |
Prepaid expenses and other | 28,770 | 31,032 |
Total current assets | 411,177 | 407,831 |
Property, plant and equipment, net | 446,488 | 427,968 |
Goodwill | 151,283 | 151,283 |
Intangible assets, net | 96,183 | 102,817 |
Deferred financing costs, net | 12,593 | 15,304 |
Other assets | 693 | 978 |
Total assets | 1,118,417 | 1,106,181 |
Current liabilities: | ' | ' |
Current maturities of long-term debt | 11,387 | 12,250 |
Accounts payable | 203,122 | 161,890 |
Accrued and other liabilities | 85,009 | 88,477 |
Income taxes payable | 3,211 | 2,335 |
Total current liabilities | 302,729 | 264,952 |
Long-term debt, less current maturities | 561,508 | 563,446 |
Other non-current liabilities | 41,592 | 45,926 |
Total liabilities | 905,829 | 874,324 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, $0.01 par value, 100,000,000 shares authorized; 20,759,014 and 20,624,255 shares issued and outstanding | 208 | 206 |
Paid-in capital | 2,394,268 | 2,385,522 |
Accumulated deficit | -2,193,289 | -2,165,069 |
Accumulated other comprehensive income | 8,461 | 8,868 |
Total Viasystems stockholders' equity | 209,648 | 229,527 |
Noncontrolling interest | 2,940 | 2,330 |
Total stockholders' equity | 212,588 | 231,857 |
Total liabilities and stockholders' equity | $1,118,417 | $1,106,181 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 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 | 20,759,014 | 20,624,255 |
Common stock, Shares outstanding | 20,759,014 | 20,624,255 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive (Loss) Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $1,171,046 | $1,159,906 | $1,057,317 |
Operating expenses: | ' | ' | ' |
Cost of goods sold, exclusive of items shown separately below | 949,496 | 927,154 | 837,686 |
Selling, general and administrative | 100,505 | 109,460 | 80,300 |
Depreciation | 88,060 | 80,019 | 65,938 |
Amortization | 6,715 | 4,547 | 1,710 |
Restructuring and impairment | 1,073 | 19,457 | 812 |
Operating income | 25,197 | 19,269 | 70,871 |
Other expense (income): | ' | ' | ' |
Interest expense, net | 44,797 | 42,156 | 28,906 |
Amortization of deferred financing costs | 2,898 | 2,723 | 2,015 |
Loss on early extinguishment of debt | ' | 24,234 | ' |
Other, net | -5,983 | -419 | 1,202 |
(Loss) income before income taxes | -16,515 | -49,425 | 38,748 |
Income taxes | 11,095 | 12,793 | 8,464 |
Net (loss) income | -27,610 | -62,218 | 30,284 |
Less: Net income attributable to noncontrolling interest | 610 | 89 | 1,791 |
Net (loss) income attributable to common stockholders | -28,220 | -62,307 | 28,493 |
Basic (loss) earnings per share | ($1.40) | ($3.12) | $1.43 |
Diluted (loss) earnings per share | ($1.40) | ($3.12) | $1.42 |
Basic weighted average shares outstanding | 20,089,507 | 19,991,190 | 19,981,022 |
Diluted weighted average shares outstanding | 20,089,507 | 19,991,190 | 20,129,787 |
Comprehensive (loss) income: | ' | ' | ' |
Net (loss) income | -27,610 | -62,218 | 30,284 |
Change in fair value of derivatives, net of tax | -407 | 813 | 507 |
Foreign currency translation, net of taxes | ' | ' | -148 |
Comprehensive (loss) income | -28,017 | -61,405 | 30,643 |
Less: Comprehensive income attributable to noncontrolling interests | 610 | 89 | 1,791 |
Comprehensive (loss) income attributable to common stockholders | ($28,627) | ($61,494) | $28,852 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Huizhou [Member] | Common Stock [Member] | Paid-in Capital [Member] | Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income [Member] | Non-controlling Interest [Member] | Non-controlling Interest [Member] |
In Thousands, except Share data | Huizhou [Member] | Huizhou [Member] | |||||||
Balance at Dec. 31, 2010 | $257,105 | ' | $202 | $2,376,197 | ' | ($2,131,255) | $7,696 | $4,265 | ' |
Balance, Shares at Dec. 31, 2010 | ' | ' | 20,238,085 | ' | ' | ' | ' | ' | ' |
Net (loss) income | 30,284 | ' | ' | ' | ' | 28,493 | ' | 1,791 | ' |
Change in fair value of derivatives, net of taxes | 507 | ' | ' | ' | ' | ' | 507 | ' | ' |
Foreign currency translation, net of taxes of $0 | -148 | ' | ' | ' | ' | ' | -148 | ' | ' |
Exercise of stock options | 18 | ' | ' | 18 | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 833 | ' | 833 | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock awards | ' | ' | 2 | -2 | ' | ' | ' | ' | ' |
Issuance of restricted stock awards, Shares | ' | ' | 154,519 | ' | ' | ' | ' | ' | ' |
Forfeiture of restricted stock awards, Shares | ' | ' | -3,428 | ' | ' | ' | ' | ' | ' |
Distribution to noncontrolling interest holder | -2,391 | ' | ' | ' | ' | ' | ' | -2,391 | ' |
Stock compensation expense | 7,697 | ' | ' | 7,697 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 293,072 | ' | 204 | 2,383,910 | ' | -2,102,762 | 8,055 | 3,665 | ' |
Balance, Shares at Dec. 31, 2011 | ' | ' | 20,390,009 | ' | ' | ' | ' | ' | ' |
Net (loss) income | -62,218 | ' | ' | ' | ' | -62,307 | ' | 89 | ' |
Change in fair value of derivatives, net of taxes | 813 | ' | ' | ' | ' | ' | 813 | ' | ' |
Foreign currency translation, net of taxes of $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock awards | ' | ' | 2 | -2 | ' | ' | ' | ' | ' |
Issuance of restricted stock awards, Shares | ' | ' | 240,825 | ' | ' | ' | ' | ' | ' |
Forfeiture of restricted stock awards, Shares | ' | ' | -6,579 | ' | ' | ' | ' | ' | ' |
Distribution to noncontrolling interest holder | -267 | ' | ' | ' | ' | ' | ' | -267 | ' |
Purchase of remaining interest in Huizhou subsidiary | ' | -10,106 | ' | ' | -8,949 | ' | ' | ' | -1,157 |
Stock compensation expense | 10,563 | ' | ' | 10,563 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 231,857 | ' | 206 | 2,385,522 | ' | -2,165,069 | 8,868 | 2,330 | ' |
Balance, Shares at Dec. 31, 2012 | 20,624,255 | ' | 20,624,255 | ' | ' | ' | ' | ' | ' |
Net (loss) income | -27,610 | ' | ' | ' | ' | -28,220 | ' | 610 | ' |
Change in fair value of derivatives, net of taxes | -407 | ' | ' | ' | ' | ' | -407 | ' | ' |
Foreign currency translation, net of taxes of $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock awards | ' | ' | 2 | -2 | ' | ' | ' | ' | ' |
Issuance of restricted stock awards, Shares | ' | ' | 203,089 | ' | ' | ' | ' | ' | ' |
Forfeiture of restricted stock awards, Shares | ' | ' | -11,509 | ' | ' | ' | ' | ' | ' |
Shares withheld for payment of taxes upon vesting of restricted stock awards | -666 | ' | ' | -666 | ' | ' | ' | ' | ' |
Shares withheld for payment of taxes upon vesting of restricted stock awards, Shares | ' | ' | -56,821 | ' | ' | ' | ' | ' | ' |
Stock compensation expense | 9,414 | ' | ' | 9,414 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $212,588 | ' | $208 | $2,394,268 | ' | ($2,193,289) | $8,461 | $2,940 | ' |
Balance, Shares at Dec. 31, 2013 | 20,759,014 | ' | 20,759,014 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax on change in fair value of derivatives | $256 | $0 | $436 |
Tax on foreign currency translation | ' | ' | 0 |
Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Tax on change in fair value of derivatives | 256 | 0 | 436 |
Tax on foreign currency translation | ' | ' | $0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net (loss) income | ($27,610) | ($62,218) | $30,284 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 94,775 | 84,566 | 67,648 |
Non-cash stock compensation expense | 9,414 | 10,563 | 7,697 |
Amortization of deferred financing costs | 2,898 | 2,723 | 2,015 |
Deferred income taxes | -652 | 306 | -1,286 |
(Gain) loss on disposition of assets, net | -161 | 551 | 980 |
Non-cash impact of exchange rates | -95 | 155 | 351 |
Loss on early extinguishment of debt | ' | 24,234 | ' |
Change in restricted cash | ' | 6,830 | ' |
Impairment of property, plant and equipment | ' | 747 | ' |
Amortization of original issue discount on 2015 Notes | ' | 665 | 1,596 |
Change in assets and liabilities: | ' | ' | ' |
Accounts receivable | -12,978 | 51,090 | -26,818 |
Inventories | -11,153 | 29,868 | -21,580 |
Prepaid expenses and other | 2,204 | 4,633 | -9,439 |
Accounts payable | 41,232 | -58,444 | 33,586 |
Accrued and other liabilities | -8,879 | -15,207 | -12,925 |
Income taxes payable | 876 | -2,973 | -698 |
Net cash provided by operating activities | 89,871 | 78,089 | 71,411 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -108,521 | -108,721 | -101,664 |
Proceeds from disposals of property, plant and equipment | 1,956 | 1,272 | 568 |
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 | -106,565 | -371,019 | -101,096 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from borrowings under credit facilities | 10,000 | 10,000 | 10,000 |
Repayments of borrowings under mortgages, capital leases and credit facilities | -11,636 | -10,787 | -10,260 |
Repayment of Senior Subordinated Convertible Notes due 2013 | -895 | ' | ' |
Withholding taxes related to stock awards net share settlements | -666 | ' | ' |
Financing and other fees | -187 | -16,186 | ' |
Distributions to noncontrolling interest holder | ' | -267 | -2,391 |
Proceeds from exercise of stock options | ' | ' | 18 |
Net cash (used in) provided by financing activities | -3,384 | 296,465 | -2,633 |
Net change in cash and cash equivalents | -20,078 | 3,535 | -32,318 |
Cash and cash equivalents, beginning of year | 74,816 | 71,281 | 103,599 |
Cash and cash equivalents, end of year | 54,738 | 74,816 | 71,281 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid | 44,598 | 46,294 | 27,399 |
Income taxes paid, net | 9,051 | 14,827 | 12,939 |
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 Secured Notes [Member] | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Repayment of 12.0% Senior Secured Notes | ' | ($236,295) | ' |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parenthetical) | Dec. 31, 2013 |
7.875% Senior Secured Notes [Member] | ' |
Debt instrument interest rate | 7.88% |
12.0% Senior Secured Notes [Member] | ' |
Debt instrument interest rate | 12.00% |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
1. Summary of Significant Accounting Policies | |||||||||||||
Viasystems Group, Inc., a Delaware corporation (“Group”), was formed on August 28, 1996. Group is a holding company and its only significant asset is stock of its wholly owned subsidiary, Viasystems, Inc. On April 10, 1997, Group contributed to Viasystems, Inc. all of the capital of its then existing subsidiaries. Prior to the contribution of capital by Group, Viasystems, Inc. had no operations of its own. Group relies on distributions from Viasystems, Inc. for cash. Moreover, the Senior Secured 2010 Credit Facility (see Note 9) and the indentures governing Viasystems, Inc.’s 2019 Notes each contain restrictions on Viasystems, Inc.’s ability to pay dividends to Group. Group, together with Viasystems, Inc. and its subsidiaries, is herein referred to as “the Company.” | |||||||||||||
Nature of Business | |||||||||||||
The Company is a leading worldwide provider of complex multi-layer printed circuit boards (“PCB”) 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, data networking equipment, telecommunications switching equipment, complex medical, technical and industrial instruments, and flight control systems. | |||||||||||||
Principles of Consolidation | |||||||||||||
The accompanying 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 generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) 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 our consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected 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 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. | |||||||||||||
Accounts Receivable and Concentration of Credit Risk | |||||||||||||
Accounts receivable balances represent customer trade receivables generated from the Company’s operations. To reduce the potential for credit risk, the Company evaluates the collectability of customer balances based on a combination of factors but does not generally require significant collateral. The Company regularly analyzes significant customer balances, and when it becomes evident a specific customer will be unable to meet its financial obligations to the Company for reasons including, but not limited to, bankruptcy filings or deterioration in the customer’s operating results or financial position, a specific allowance for doubtful accounts is recorded to reduce the related receivable to the amount that is believed reasonably collectible. The Company also records an allowance for doubtful accounts for all other customers based on a variety of factors, including the length of time the receivables are past due, historical experience and current economic conditions. If circumstances related to specific customers change, estimates of the recoverability of receivables could be further adjusted. | |||||||||||||
The provision for bad debts is included in selling, general and administrative expense. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. | |||||||||||||
Inventories | |||||||||||||
Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) and average cost methods. Cost includes raw materials, labor and manufacturing overhead. | |||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are stated at cost. Repairs and maintenance that do not extend the useful life of an asset are charged to expense as incurred. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the operations for the period. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Buildings | 20-50 years | ||||||||||||
Leasehold improvements | 3-15 years | ||||||||||||
Machinery, equipment, systems and other | 3-10 years | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company reviews intangible assets with a finite life and other long-lived assets for impairment if facts and circumstances exist that indicate the asset’s useful life is shorter than previously estimated or the carrying amount may not be recoverable from future operations based on undiscounted expected future cash flows. Impairment losses are recognized in operating results for the amount by which the carrying value of the asset exceeds its fair value. In addition, the remaining useful life of an impaired asset group would be reassessed and revised, if necessary. | |||||||||||||
Goodwill | |||||||||||||
Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of identifiable net tangible and intangible assets acquired. Goodwill and other indefinite-lived intangible assets are not amortized but are reviewed for impairment annually or more frequently if a triggering event were to occur in an interim period. | |||||||||||||
Intangible Assets | |||||||||||||
Intangible assets consist primarily of identifiable intangibles acquired. Amortization of identifiable intangible assets acquired is computed using systematic methods over the estimated useful lives of the related assets as follows: | |||||||||||||
Life | Method | ||||||||||||
Patents, trademarks and trade names | 2-5 years | Straight-line | |||||||||||
Customer lists | 12-20 years | Straight-line | |||||||||||
Manufacturer sales representative network | 12-20 years | Straight-line | |||||||||||
Developed technologies | 15 years | Double-declining | |||||||||||
balance | |||||||||||||
Impairment testing of these assets would occur if and when an indicator of impairment is identified. | |||||||||||||
Deferred Financing Costs | |||||||||||||
Deferred financing costs, consisting of fees and other expenses associated with debt financing, are amortized over the term of the related debt using the straight-line method, which approximates the effective interest method. | |||||||||||||
Product Warranties | |||||||||||||
Provisions for estimated expenses related to product warranties are generally made at the time products are sold. These estimates are established using historical information on the nature, frequency and average cost of warranty claims. | |||||||||||||
Amounts accrued for warranty reserves are included in accrued and other liabilities (see Note 8). The following table summarizes changes in the reserve for the years ended December 31, 2013 and 2012: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 9,211 | $ | 5,999 | |||||||||
Provision | 8,501 | 6,540 | |||||||||||
Acquired from DDi | — | 3,817 | |||||||||||
Claims and adjustments | (9,173 | ) | (7,145 | ) | |||||||||
Balance, end of year | $ | 8,539 | $ | 9,211 | |||||||||
Environmental Costs | |||||||||||||
Accruals for environmental matters are recorded in operating expenses when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Accrued liabilities do not include claims against third parties and are not discounted. Costs related to environmental remediation are charged to expense. Other environmental costs are also charged to expense unless they increase the value of the property and/or mitigate or prevent contamination from future operations, in which event they are capitalized. | |||||||||||||
Derivative Financial Instruments | |||||||||||||
From time to time, the Company enters into cash flow hedges in the form of foreign exchange forward contracts and cross-currency swaps to minimize the short-term impact of foreign currency fluctuations. However, there can be no assurance that these activities will eliminate or reduce foreign currency risk. To reduce the potential for credit risk associated with cash flow hedges, the Company monitors the credit ratings of the counter parties to its hedging transactions. The foreign exchange forward contracts and cross-currency swaps are designated as cash flow hedges and are accounted for at fair value. The effective portion of the change in each cash flow hedge’s gain or loss is reported as a component of other comprehensive (loss) income, net of taxes. The ineffective portion of the change in the cash flow hedge’s gain or loss is recorded in earnings at each measurement date. Gains and losses on derivative contracts are reclassified from accumulated other comprehensive (loss) income to current period earnings in the line item in which the hedged item is recorded in the same period the hedged foreign currency cash flow affects earnings (see Note 13). | |||||||||||||
Foreign Currency Translation and Remeasurement | |||||||||||||
All the Company’s foreign subsidiaries use the U.S. dollar as their functional currency. Net (loss) income includes gains and losses arising from transactions denominated in currencies other than the U.S. dollar, the impact of remeasuring local currency denominated assets and liabilities of foreign subsidiaries to the U.S. dollar and the realized gains and losses resulting from the Company’s foreign currency hedging activities. | |||||||||||||
As a result of the reversal of cumulative translation adjustments in connection with the liquidation of certain foreign investments, the Company recorded net translation adjustments of $148 for the year ended December 31, 2011, which reduced accumulated other comprehensive income in that year. | |||||||||||||
Revenue Recognition | |||||||||||||
Revenue is recognized when all of the following criteria are satisfied: persuasive evidence of an arrangement exists; risk of loss and title transfer to the customer; the price is fixed and determinable; and collectability is reasonably assured. Sales and related costs of goods sold are included in income when goods are shipped to the customer in accordance with the delivery terms, except in the case of vendor managed inventory arrangements, whereby sales and the related costs of goods sold are included in income when possession of goods is taken by the customer. Generally, there are no formal customer acceptance requirements or further obligations related to manufacturing services. If such requirements or obligations exist, then revenue is recognized at the time when such requirements are completed and the obligations are fulfilled. Services provided as part of the manufacturing process represent less than 10% of sales. Reserves for product returns are recorded based on historical trend rates at the time of sale. | |||||||||||||
Shipping Costs | |||||||||||||
Costs incurred by the Company to ship finished goods to its customers are included in cost of goods sold on the consolidated statements of operations and comprehensive income. | |||||||||||||
Income Taxes | |||||||||||||
The Company accounts for certain items of income and expense in different periods for financial reporting and income tax purposes. Provisions for deferred income taxes are made in recognition of such temporary differences, where applicable. A valuation allowance is established against deferred tax assets unless the Company believes it is more likely than not that the benefit will be realized. | |||||||||||||
The Company provides for uncertain tax positions and the related interest and penalties based upon its assessment of whether it is more likely than not that the tax position will be sustained on examination by the taxing authorities, given the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. | |||||||||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. | |||||||||||||
Earnings or Loss Per Share | |||||||||||||
The Company computes basic (loss) earnings per share by dividing its net (loss) income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. The computation of diluted (loss) earnings per share is based on the weighted average number of common shares outstanding during the period plus dilutive common equivalent shares (consisting primarily of employee stock options and unvested stock awards). The potentially dilutive impact of the Company’s share-based compensation awards is determined using the treasury stock method. | |||||||||||||
The components used in the computation of our basic and diluted (loss) earnings per share attributable to common stockholders were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income attributable to common stockholders | $ | (28,220 | ) | $ | (62,307 | ) | $ | 28,493 | |||||
Basic weighted average shares outstanding | 20,089,507 | 19,991,190 | 19,981,022 | ||||||||||
Dilutive effect of stock options | — | — | 2,630 | ||||||||||
Dilutive effect of restrictive stock awards | — | — | 146,135 | ||||||||||
Dilutive effect of performance share units | — | — | — | ||||||||||
Dilutive weighted average shares outstanding | 20,089,507 | 19,991,190 | 20,129,787 | ||||||||||
Basic (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.43 | |||||
Diluted (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.42 | |||||
For the year ended December 31, 2013, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 1,869,124 shares of common stock, ii) unvested restricted stock awards of 576,042 because their inclusion would be antidilutive, and iii) the effect of performance share units representing a maximum of 971,518 shares of common stock because the related performance measures were not attainable during the period. For the year ended December 31, 2012, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 2,029,010 shares of common stock, ii) unvested restricted stock awards of 629,435, iii) long-term debt convertible into 6,593 shares of common stock because their inclusion would be antidilutive and iv) the effect of performance share units representing a maximum of 278,686 shares of common stock because the related performance measures were not attainable during the period. For the year ended December 31, 2011, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 1,644,812 shares of common stock and ii) long-term debt convertible into 6,593 shares of common stock because their inclusion would be antidilutive. | |||||||||||||
Employee Stock-Based Compensation | |||||||||||||
The Company maintains two stock option plans, the “2010 Equity Incentive Plan” and the “2003 Stock Option Plan,” and recognizes compensation expense for share-based awards, including stock options and restricted stock awards, ratably over the awards’ vesting periods based on the grant date fair values of the awards (see Note 14). | |||||||||||||
Noncontrolling Interest | |||||||||||||
The Company owns a majority interest in its subsidiary that operates a manufacturing facility in Huiyang, China, and a noncontrolling interest holder (the “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 (the “Huizhou Facility”), and the 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. | |||||||||||||
Research and Development | |||||||||||||
Research, development and engineering expenditures for the creation and application of new products and processes were approximately $4,304, $3,615 and $2,517 for the years ended December 31, 2013, 2012 and 2011, respectively. Research and development is included in the selling, general and administrative line item on the consolidated statements of operations and comprehensive (loss) income. | |||||||||||||
Reclassifications | |||||||||||||
The accompanying consolidated financial statements for prior years contain certain reclassifications to conform to the presentation used in the current period. | |||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||
On January 1, 2013, the Company adopted a new accounting standard which requires it 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 as of 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 16). | |||||||||||||
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 does not expect the adoption of this standard will have a material impact on its consolidated financial statements when adopted. |
The_DDi_Acquisition
The DDi Acquisition | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
The DDi Acquisition | ' | ||||
2. The DDi Acquisition | |||||
On May 31, 2012, the Company acquired DDi Corp. (“DDi”) in an all cash purchase transaction pursuant to which DDi became a wholly owned subsidiary of the Company (the “DDi Acquisition”). | |||||
Pro Forma Information (unaudited) | |||||
The following unaudited pro forma information presents the combined results of operations of Viasystems and DDi for the year ended December 31, 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 result 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 each 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: | |||||
Year Ended | |||||
December 31, 2012 | |||||
Net sales | $ | 1,272,908 | |||
Net (loss) income | $ | (22,909 | ) | ||
The pro forma net income was adjusted to give effect to pro forma events which are directly attributable to the DDi Acquisition. Adjustments to the pro forma net income for the year ended December 31, 2012 included: i) the exclusion of $17,789 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. |
Accounts_Receivable_and_Concen
Accounts Receivable and Concentration of Credit Risk | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Accounts Receivable and Concentration of Credit Risk | ' | ||||||||||||
3. Accounts Receivable and Concentration of Credit Risk | |||||||||||||
The allowance for doubtful accounts is included in accounts receivable, net in the accompanying consolidated balance sheets. | |||||||||||||
The activity in the allowance for doubtful accounts is summarized as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, beginning of year | $ | 2,680 | $ | 2,770 | $ | 2,280 | |||||||
Provision | 1,660 | 2,066 | 2,499 | ||||||||||
Write-offs, credits and adjustments | (693 | ) | (2,156 | ) | (2,009 | ) | |||||||
Balance, end of year | $ | 3,647 | $ | 2,680 | $ | 2,770 | |||||||
For the years ended December 31, 2013, 2012 and 2011, sales to the Company’s ten largest customers accounted for approximately 40.6%, 49.0% and 58.8% of the Company’s net sales, respectively. During the years ended December 31, 2013, 2012 and 2011 one customer, Robert Bosch GmbH, individually accounted for more than 10% of our net sales, with sales representing 12.6%, 13.9% and 14.5% of our net sales in those years, respectively. Sales to Robert Bosch GmbH occurred in the Printed Circuit Boards segment. |
Inventories
Inventories | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
4. Inventories | |||||||||
The composition of inventories at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 42,538 | $ | 42,149 | |||||
Work in process | 35,504 | 34,136 | |||||||
Finished goods | 44,140 | 34,744 | |||||||
Total | $ | 122,182 | $ | 111,029 | |||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
5. Property, Plant and Equipment | |||||||||
The composition of property, plant and equipment at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 157,245 | $ | 126,142 | |||||
Machinery, equipment and systems | 638,348 | 718,321 | |||||||
Leasehold improvements | 91,662 | 84,197 | |||||||
Construction in progress | 26,874 | 24,848 | |||||||
914,129 | 953,508 | ||||||||
Less: Accumulated depreciation | (467,641 | ) | (525,540 | ) | |||||
Total | $ | 446,488 | $ | 427,968 | |||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||||||||
6. Goodwill and Other Intangible Assets | |||||||||||||||||||||||||
As of December 31, 2013, the Company had recorded goodwill of $151,283 from prior acquisitions which related entirely to its Printed Circuit Boards segment. The Company conducts an assessment of the carrying value of goodwill annually, as of the first day of its fourth fiscal quarter, or more frequently if circumstances arise which would indicate the fair value of a reporting unit with goodwill is below its carrying amount. No adjustments were recorded to goodwill as a result of these assessments. | |||||||||||||||||||||||||
The components of intangible assets subject to amortization were as follows: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net Book | Gross | Accumulated | Net Book | ||||||||||||||||||||
Carrying | Amortization | Value | Carrying | Amortization | Value | ||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Developed technologies | $ | 20,371 | $ | (19,830 | ) | $ | 541 | $ | 20,371 | $ | (18,904 | ) | $ | 1,467 | |||||||||||
Customer list | 88,015 | (7,967 | ) | 80,048 | 88,015 | (3,430 | ) | 84,585 | |||||||||||||||||
Manufacturer sales representative network | 17,115 | (1,769 | ) | 15,346 | 17,115 | (857 | ) | 16,258 | |||||||||||||||||
Patents, trademarks and trade name | 2,615 | (2,367 | ) | 248 | 2,535 | (2,028 | ) | 507 | |||||||||||||||||
Total | $ | 128,116 | $ | (31,933 | ) | $ | 96,183 | $ | 128,036 | $ | (25,219 | ) | $ | 102,817 | |||||||||||
The expected future annual amortization expense of definite-lived intangible assets for the next five fiscal years is as follows: | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2014 | $ | 6,154 | |||||||||||||||||||||||
2015 | 5,483 | ||||||||||||||||||||||||
2016 | 5,475 | ||||||||||||||||||||||||
2017 | 5,471 | ||||||||||||||||||||||||
2018 | 5,460 | ||||||||||||||||||||||||
Thereafter | 68,140 | ||||||||||||||||||||||||
Total | $ | 96,183 | |||||||||||||||||||||||
Restructuring_and_Impairment
Restructuring and Impairment | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||||||||||||||
Restructuring and Impairment | ' | ||||||||||||||||||||||||||||
7. Restructuring and Impairment | |||||||||||||||||||||||||||||
As of December 31, 2013, the reserve for restructuring charges included $1,224, $261 and $1,342 related to i) activities initiated in 2012 to achieve general cost savings, ii) the closure of its Huizhou Facility and iii) plant shutdowns and downsizings which occurred in 2001 through 2005 as a result of the economic downturn that began in 2000 (the “2001 Restructuring”), respectively. | |||||||||||||||||||||||||||||
The following tables summarize changes in the reserve for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/12 | Charges | Payments | 12/31/13 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 3,758 | $ | 276 | $ | (436 | ) | $ | (160 | ) | $ | (2,011 | ) | $ | — | $ | 1,587 | ||||||||||||
Lease and other contractual commitments | 1,610 | 1,250 | (17 | ) | 1,233 | (1,650 | ) | 47 | (a) | 1,240 | |||||||||||||||||||
$ | 5,368 | $ | 1,526 | $ | (453 | ) | $ | 1,073 | $ | (3,661 | ) | $ | 47 | $ | 2,827 | ||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/11 | Charges | Payments | 12/31/12 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 190 | $ | 16,151 | $ | — | $ | 16,151 | $ | (12,583 | ) | $ | — | $ | 3,758 | ||||||||||||||
Lease and other contractual commitments | 952 | 1,622 | — | 1,622 | (1,050 | ) | 86 | (a) | 1,610 | ||||||||||||||||||||
Asset impairments | — | 1,684 | — | 1,684 | — | (1,684 | ) | — | |||||||||||||||||||||
$ | 1,142 | $ | 19,457 | $ | — | $ | 19,457 | $ | (13,633 | ) | $ | (1,598 | ) | $ | 5,368 | ||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/10 | Charges | Payments | 12/31/11 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 445 | $ | — | $ | (134 | ) | $ | (134 | ) | $ | (121 | ) | $ | — | $ | 190 | ||||||||||||
Lease and other contractual commitments | 1,277 | 946 | — | 946 | (1,302 | ) | 31 | (a) | 952 | ||||||||||||||||||||
$ | 1,722 | $ | 946 | $ | (134 | ) | $ | 812 | $ | (1,423 | ) | $ | 31 | $ | 1,142 | ||||||||||||||
(a) | Represents accretion of interest on discounted restructuring liabilities. | ||||||||||||||||||||||||||||
The restructuring and impairment charges were determined based on formal plans approved by the Company’s management using the best information available at the time. The amounts the Company ultimately incurs may change as the balance of the plans are executed. Expected cash payout of the accrued expenses is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2014 | $ | 1,632 | |||||||||||||||||||||||||||
2015 | 100 | ||||||||||||||||||||||||||||
2016 | 104 | ||||||||||||||||||||||||||||
2017 | 108 | ||||||||||||||||||||||||||||
2018 | 104 | ||||||||||||||||||||||||||||
Thereafter | 1,275 | ||||||||||||||||||||||||||||
Total | 3,323 | ||||||||||||||||||||||||||||
Less: Amounts representing interest | (496 | ) | |||||||||||||||||||||||||||
Restructuring liability | $ | 2,827 | |||||||||||||||||||||||||||
2013 Restructuring and Impairment Charges | |||||||||||||||||||||||||||||
During the year ended December 31, 2013, the Company recognized net restructuring charges of $1,073, including $818 in its Printed Circuit Boards segment, $183 in its Assembly segment and $72 in its “Other” segment (see Note 15). Charges incurred in the Printed Circuit Boards segment included i) $741 related to the relocation of the Company’s Anaheim, California facility, ii) $334 related to the closure of the Huizhou Facility, iii) $102 related to the 2012 fire at the Company’s Guangzhou, China PCB factory and iv) $77 related to staffing reductions at certain North America manufacturing facilities, partially offset by the reversal of $436 of accrued severance costs associated with the closure of the Huizhou Facility. Charges incurred in the Assembly segment related to staffing reductions during the fourth quarter of 2013, and charges incurred in the “Other” segment related to an increase in estimated long-term obligations incurred in connection with the 2001 Restructuring. | |||||||||||||||||||||||||||||
Anaheim Move | |||||||||||||||||||||||||||||
During the second half of 2013, the Company relocated a PCB manufacturing facility it was leasing in Anaheim, California to a facility it had purchased and renovated in the same city (the “Anaheim Move”). The charges related to the Anaheim Move during 2013 related to lease and moving costs. The Company expects the total costs related to the Anaheim Move to be approximately $1,000. | |||||||||||||||||||||||||||||
Huizhou PCB Facility Closure | |||||||||||||||||||||||||||||
The Huizhou Facility ceased operations during the third quarter of 2012, and was decommissioned and returned to its landlord in January 2013. During the year ended December 31, 2013, the Company incurred $334 of moving costs related to relocating the operations of the Huizhou Facility to its other PCB facilities in China, and reversed $436 of accrued severance costs as a result of favorable resolutions of related contingencies. | |||||||||||||||||||||||||||||
2012 Restructuring and Impairment Charges | |||||||||||||||||||||||||||||
During the year ended December 31, 2012, the Company recognized $19,457 of restructuring and impairment charges, including $18,405 in its Printed Circuit Boards segment, $801 in its Assembly segment and $251 in “Other.” Restructuring and impairment charges incurred in the Printed Circuit Boards segment included i) $10,662 related to the closure of its Huizhou Facility, ii) $826 associated with integrating the newly acquired DDi business, iii) $5,923 related to general cost savings and iv) $994 of impairment charges and other costs related to fire damage at its Guangzhou, China PCB facility. Restructuring and impairment charges incurred in the Assembly segment related to general cost savings which primarily included the closure of the Company’s Qingdao facility. Restructuring charges incurred in “Other” related to a revaluation of certain employee benefit obligations related to the 2001 Restructuring. | |||||||||||||||||||||||||||||
Guangzhou Fire | |||||||||||||||||||||||||||||
On September 5, 2012, the Company experienced a fire on the campus of its PCB manufacturing facility in Guangzhou, China which resulted in the loss of inventory with a carrying value of $4,692 and property, plant and equipment with a net book value of $1,988. The Company maintains insurance coverage for property losses and business interruptions caused by fire which is subject to certain deductibles. During the year ended December 31, 2012, the Company recorded an impairment charge of $937 for the amount of the inventory loss subject to an insurance deductible and recorded a receivable for the amount it expected to recover for inventory and machinery and equipment destroyed. During the year ended December 31, 2013, the Company received an initial payment of $1,631 from its insurance carrier as a partial reimbursement of its property claim. The Company continues to actively pursue collection of its business interruption and property claims through negotiation with its insurance carrier; however, the Company may pursue its claims in litigation should such negotiations not produce a satisfactory result. The final payment from the Company’s insurance carrier for these claims is dependent on many variables that are difficult to predict and the Company is not able to estimate the total amount of the recovery it may receive or the timing of such recovery. During the years ended December 31, 2013 and 2012, the Company incurred $102 and $57 of costs to clean-up from the fire damage. | |||||||||||||||||||||||||||||
General Cost Savings Activities | |||||||||||||||||||||||||||||
During 2012, the Company initiated staffing reductions at certain of its manufacturing facilities in China in order to better align overhead costs and operating expenses with market demand for its products and recorded related restructuring charges of $5,923 and $142 in its Printed Circuit Boards and Assembly segments, respectively. The Company does not expect to incur significant additional costs related to the activities announced during 2012. | |||||||||||||||||||||||||||||
2011 Restructuring and Impairment Charges | |||||||||||||||||||||||||||||
The Company recorded $812 of net restructuring charges for the year ended December 31, 2011, which included $535 incurred in the Assembly segment related to the relocation of our manufacturing operations in Juarez, Mexico to a new facility, $411 incurred in “Other” which primarily related to an increase in estimated long-term obligations incurred in connection with the 2001 Restructuring, and the reversal of $134 of accrued severance related to the DDi Acquisition. The charges related to the relocation of our Juarez, Mexico facility and the charges related to the 2001 Restructuring relate to lease and other contractual commitment costs. |
Accrued_and_Other_Liabilities
Accrued and Other Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Accrued and Other Liabilities | ' | ||||||||
8. Accrued and Other Liabilities | |||||||||
The composition of accrued and other liabilities at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Accrued payroll and related costs | $ | 36,547 | $ | 37,861 | |||||
Accrued interest | 7,302 | 7,382 | |||||||
Accrued warranty | 8,539 | 9,211 | |||||||
Accrued other | 32,621 | 34,023 | |||||||
Total | $ | 85,009 | $ | 88,477 | |||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
9. Long-Term Debt | |||||||||
The composition of long-term debt at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Senior Secured Notes due 2019 | $ | 550,000 | $ | 550,000 | |||||
Senior Secured 2010 Credit Facility | — | — | |||||||
North America Mortgage loans | 12,259 | 14,125 | |||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | |||||||
Capital leases | 636 | 676 | |||||||
Senior Subordinated Convertible Notes due 2013 | — | 895 | |||||||
572,895 | 575,696 | ||||||||
Less: Current maturities | (11,387 | ) | (12,250 | ) | |||||
$ | 561,508 | $ | 563,446 | ||||||
As of December 31, 2013, $10,000 was outstanding under the Company’s various credit facilities, the Company had issued letters of credit totaling $1,501, and approximately $101,769 of the credit facilities was unused and available. | |||||||||
The schedule of principal payments for long-term debt at December 31, 2013, is as follows: | |||||||||
Year Ended December 31, | |||||||||
2014 | $ | 11,386 | |||||||
2015 | 1,129 | ||||||||
2016 | 765 | ||||||||
2017 | 795 | ||||||||
2018 | 826 | ||||||||
Thereafter | 557,994 | ||||||||
Total | $ | 572,895 | |||||||
Senior Secured Notes due 2019 | |||||||||
On April 30, 2012, the Company’s subsidiary, Viasystems, Inc., completed an offering of $550,000 of 7.875% Senior Secured Notes due 2019 (the “2019 Notes”). The Company incurred $16,186 of deferred financing fees related to the 2019 Notes that have been capitalized and will be amortized over the life of the 2019 Notes. The net proceeds of the 2019 Notes were used to fund the redemption of the 2015 Notes and the DDi Acquisition. | |||||||||
Interest on the 2019 Notes is due semiannually on May 1 and November 1 of each year, beginning on November 1, 2012. At any time prior to May 1, 2015, the Company may use the cash proceeds from one or more equity offerings to redeem up to $192,500 of the aggregate principal amount of the 2019 Notes at a redemption price of 107.875% plus accrued and unpaid interest. In addition, at any time from March 1, 2013 to May 1, 2015, but not more than once in any twelve-month period, the Company may redeem up to $55,000 of the aggregate principal amount of the notes at a redemption price of 103% plus accrued and unpaid interest. Furthermore, at any time prior to May 1, 2015, the Company may redeem all or part of the notes, at a redemption price of 100% plus a “make-whole” premium equal to the greater of a) 1% of the principal amount or b) the excess of i) the present value at the redemption rate of 105.906% of the principal amount redeemed calculated using a discount rate equal to the treasury rate (as defined) plus 50 basis points, over ii) the principal amount of the notes. On or after May 1, 2015, the Company may redeem all or a portion of the notes during the twelve month periods ended April 30, 2016, 2017 and 2018 at redemption prices of 105.906%, 103.938% and 101.969%, respectively, plus accrued and unpaid interest. After May 1, 2018, the Company may redeem the 2019 Notes at the redemption price of 100% plus accrued and unpaid interest. In the event of a Change in Control (as defined), the Company is required to make an offer to purchase the 2019 Notes at a redemption price of 101%, plus accrued and unpaid interest. | |||||||||
The 2019 Notes are guaranteed, jointly and severally, by all of Viasystems, Inc.’s current and future material domestic subsidiaries (the “Subsidiary Guarantors”) and by Viasystems Group, Inc. through a parent guarantee. The 2019 Notes are collateralized by all of the equity interests of each of the Subsidiary Guarantors, and by liens on substantially all of Viasystems, Inc.’s and the Subsidiary Guarantors’ assets. | |||||||||
The indenture governing the 2019 Notes contains restrictive covenants which, among other things, limit the ability of Viasystems, Inc. and the Subsidiary Guarantors to: a) incur additional indebtedness or issue disqualified stock or preferred stock; b) create liens; c) pay dividends, make investments or make other restricted payments; d) sell assets; e) consolidate, merge, sell or otherwise dispose of all or substantially all of the assets of Viasystems, Inc. and its subsidiaries; and f) enter into certain transactions with affiliates. | |||||||||
Senior Secured 2010 Credit Facility | |||||||||
Effective as of December 31, 2013, the Company amended its senior secured revolving credit agreement (the “Senior Secured 2010 Credit Facility) with Wells Fargo Capital Finance, LLC primarily for the purpose of extending the maturity date, increasing the maximum potential credit limit, and reducing the applicable margins for loans. The Senior Secured 2010 Credit Facility, as amended, provides a secured revolving credit facility in an aggregate principal amount of up to $75,000 which, upon mutual agreement, may be increased to a maximum of $100,000. The Facility matures on December 29, 2018. The annual interest rates applicable to loans under the Senior Secured 2010 Credit Facility are, at the Company’s option, either the Prime Rate or Eurodollar Rate (each as defined in the Senior Secured 2010 Credit Facility) plus, in each case, an applicable margin. The applicable margin is tied to the Company’s Monthly Average Excess Availability (as defined in the Senior Secured 2010 Credit Facility) and ranges from 0.25% to 0.75% for Prime Rate loans and 1.75% to 2.25% for Eurodollar Rate loans. In addition, the Company is required to pay an unused line fee and other fees as defined in the Senior Secured 2010 Credit Facility. | |||||||||
The Senior Secured 2010 Credit Facility is guaranteed by and secured by substantially all of the assets of the Company’s current and future material domestic subsidiaries, subject to certain exceptions as set forth in the Senior Secured 2010 Credit Facility. The Senior Secured 2010 Credit Facility contains negative covenants restricting and limiting the Company’s ability to, among other things: | |||||||||
• | incur debt, incur contingent obligations and issue certain types of preferred stock; | ||||||||
• | create liens; | ||||||||
• | pay dividends, distributions or make other specified restricted payments; | ||||||||
• | make certain investments and acquisitions; | ||||||||
• | enter into certain transactions with affiliates; and | ||||||||
• | merge or consolidate with any other entity or sell, assign, transfer, lease, convey or otherwise dispose of assets. | ||||||||
Under the Senior Secured 2010 Credit Facility, if the Excess Availability (as defined in the Senior Secured 2010 Credit Facility) is less than $9,375, the Company must maintain, on a monthly basis, a minimum fixed charge coverage ratio of 1.0 to 1.0. | |||||||||
The Company incurred $2,529 of deferred financing fees related to the Senior Secured 2010 Credit Facility, including the 2013 amendment, which have been capitalized and are being amortized over the life of the facility. As of December 31, 2013, the Senior Secured 2010 Credit Facility supported letters of credit totaling $1,501, and approximately $71,001 was unused and available based on eligible collateral. | |||||||||
Zhongshan 2010 Credit Facility | |||||||||
The Company’s unsecured revolving credit facility between its Kalex Multi-layer Circuit Board (Zhongshan) Limited (“KMLCB”) subsidiary and China Construction Bank, Zhongshan Branch (the “Zhongshan 2010 Credit Facility”), provides for borrowing denominated in Renminbi (“RMB”) and foreign currency including the U.S. dollar. Borrowings are guaranteed by KMLCB’s sole Hong Kong parent company, Kalex Circuit Board (China) Limited. This revolving credit facility is renewable annually upon mutual agreement. Loans under the credit facility bear interest at the rate of i) LIBOR plus a margin negotiated prior to each U.S. dollar denominated loan or ii) the interest rate quoted by the Peoples Bank of China for Chinese RMB denominated loans. The Zhongshan 2010 Credit Facility has certain restrictions and other covenants that are customary for similar credit arrangements; however, there are no financial covenants contained in this facility. As of December 31, 2013, $10,000 in U.S. dollar loans was outstanding under the Zhongshan 2010 Credit Facility at a rate of 3.4%, and approximately $30,768 of the facility was 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 scheduled maturity. | |||||||||
North America Mortgage Loans | |||||||||
Toronto Mortgages | |||||||||
The Company’s mortgage loans with Business Development Bank of Canada (“BDC”) consists of two loan agreements, one denominated in U.S. dollars and the second denominated in Canadian dollars, which are secured by the land, building and certain equipment at the Company’s manufacturing facility in Toronto, Canada. The loan agreements contain a covenant requiring maintenance of an available funds coverage ratio of 1.5 to 1.0. As of December 31, 2013, the balance of the U.S. dollar loan was $787. The loan bears interest at a variable rate equal to the applicable BDC floating base rate less 0.4% (3.30% as of December 31, 2013), requires monthly principal and interest payments of approximately $38, and will mature in October 2015. As of December 31, 2013, the U.S. dollar equivalent balance of the Canadian dollar loan was $3,661. The loan bears interest at a variable rate equal to the applicable BDC floating base rate less 0.75% (4.25% as of December 31, 2013), requires monthly principal and interest payments of approximately $36, and will mature in September 2028. | |||||||||
Anaheim Mortgage | |||||||||
The Company’s mortgage loan with Wells Fargo Bank is secured by the land and building at the Company’s manufacturing facility in Anaheim, California. The loan agreement contains a covenant requiring maintenance of a minimum fixed charge coverage ratio of 1.25 to 1.0. As of December 31, 2013, the balance of the loan was $5,147. The loan bears interest at a fixed rate of 4.326%, requires monthly principal and interest payments of approximately $43, and will mature in March 2019, when a balloon principal payment of $3,446 will be due. | |||||||||
Cleveland Mortgage | |||||||||
The Company’s mortgage loan with Zions Bank is secured by the land and building of the Company’s manufacturing facility in Cuyahoga Falls, Ohio. As of December 31, 2013, the balance of the loan was $1,401. The loan bears interest at a variable rate equal to the Federal Home Loan Bank of Seattle prime rate plus 2% (3.25% as of December 31, 2013), requires monthly principal and interest payments of approximately $8, and will mature in November 2032. | |||||||||
Denver Mortgage | |||||||||
The Company’s mortgage loan with GE Real Estate is secured by the land and building at the Company’s manufacturing facility in Littleton, Colorado. As of December 31, 2013, the balance of the loan was $987. The loan bears interest at a fixed rate of 7.55%, requires monthly principal and interest payments of approximately $11, and will mature in July 2032. | |||||||||
North Jackson Mortgage | |||||||||
The Company’s mortgage loan with Key Bank is secured by the land and building at the Company’s manufacturing facility in North Jackson, Ohio. As of December 31, 2013, the balance of the loan was $277. The loan agreement contains a covenant requiring maintenance of a minimum operating cash flow to fixed charge ratio of 1.0 to 1.0. The loan bears interest at a variable rate of LIBOR plus 1.5% (1.67% as of December 31, 2013), requires monthly principal and interest payments of approximately $21, and will mature in April 2015. |
Commitments
Commitments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments | ' | ||||||||
10. Commitments | |||||||||
The Company leases certain buildings, transportation and other equipment under capital and operating leases. As of December 31, 2013 and 2012, there was equipment held under capital leases with a cost basis of $12,007 included in property, plant and equipment. The Company has recorded accumulated depreciation related to this equipment of $8,405 and $7,205 as of December 31, 2013 and 2012, respectively. Total rental expense under operating leases was $10,320, $7,571 and $5,321 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
Future minimum lease payments under capital leases and operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2013, are as follows: | |||||||||
Year Ended December 31, | Capital | Operating | |||||||
2014 | $ | 131 | $ | 10,056 | |||||
2015 | 131 | 8,256 | |||||||
2016 | 131 | 6,498 | |||||||
2017 | 131 | 5,433 | |||||||
2018 | 131 | 4,204 | |||||||
Thereafter | 262 | 11,637 | |||||||
Total | 917 | $ | 46,084 | ||||||
Less: Amounts representing interest | (281 | ) | |||||||
Capital lease obligations | $ | 636 | |||||||
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Contingencies | ' |
11. 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 ever make a claim against the Company, in the opinion of our management, the ultimate liabilities resulting from such indemnification obligations will not have a material adverse effect on its financial condition and results of operations and cash flows. | |
The Company is a party to contracts and agreements with other third parties in which the Company has agreed to indemnify such parties against certain liabilities in connection with claims by unrelated parties. At December 31, 2013 and 2012, other non-current liabilities include $1,927 and $11,314, respectively, of accruals for potential claims in connection with such indemnities. Other income, net for the year ended December 31, 2013, includes $8,991 for the reversal of a portion of this liability which existed at December 31, 2012, as a result of the lapse of related contingencies. | |
The Company’s 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 in bad faith or intentional misconduct, the unlawful paying 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 our management, the ultimate liabilities resulting from such lawsuits and claims have been adequately provided for and will not have a material adverse effect on the Company’s financial condition and results of operations and cash flows. | |
To manage various business risks, the Company maintains a portfolio of insurance policies that the Company’s management believes are reasonable and customary for similarly situated companies. During 2012, stemming from a 2010 fire which damaged an electrical distribution hub at the Company’s manufacturing facility in Zhongshan, China, the Company settled its related insurance claim and received a payment which included $1,242 to compensate for business interruption. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
12. Income Taxes | |||||||||||||
The Company’s income tax provision for the years ended December 31, 2013, 2012 and 2011, consists of the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | (196 | ) | (408 | ) | 272 | ||||||||
Foreign | 12,180 | 12,491 | 9,934 | ||||||||||
11,984 | 12,083 | 10,206 | |||||||||||
Deferred: | |||||||||||||
Federal | — | 3,407 | (1,764 | ) | |||||||||
State | — | 292 | (292 | ) | |||||||||
Foreign | (889 | ) | (2,989 | ) | 314 | ||||||||
(889 | ) | 710 | (1,742 | ) | |||||||||
Total | $ | 11,095 | $ | 12,793 | $ | 8,464 | |||||||
A reconciliation between the income tax provision at the federal statutory income tax rate and at the effective tax rate, for the years ended December 31, 2013, 2012 and 2011, is summarized below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. Federal Statutory Rate | $ | (5,780 | ) | $ | (17,299 | ) | $ | 13,562 | |||||
State taxes, net of federal benefit | 1 | (106 | ) | 337 | |||||||||
Permanent items | 3,709 | 3,726 | (2,679 | ) | |||||||||
Foreign tax (under) U.S. Statutory rate | (4,574 | ) | (1,993 | ) | (5,431 | ) | |||||||
Current year valuation allowance for deferred tax assets | 16,117 | 26,416 | (916 | ) | |||||||||
Uncertain tax positions | 2,099 | (87 | ) | (2,785 | ) | ||||||||
Foreign tax rate changes and withholdings | 611 | 440 | 5,865 | ||||||||||
Other | (1,088 | ) | 1,696 | 511 | |||||||||
$ | 11,095 | $ | 12,793 | $ | 8,464 | ||||||||
The tax effects of significant temporary differences representing deferred tax assets and liabilities at December 31, 2013 and 2012, are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 378,143 | $ | 370,340 | |||||||||
Capital loss carryforwards | 103,583 | 111,550 | |||||||||||
Federal and State credit carryforwards | 25,633 | 25,335 | |||||||||||
Accrued liabilities not yet deductible | 9,989 | 14,128 | |||||||||||
Equity compensation | 11,824 | 13,116 | |||||||||||
Other | 1,119 | 878 | |||||||||||
530,291 | 535,347 | ||||||||||||
Valuation allowance | (481,019 | ) | (479,921 | ) | |||||||||
49,272 | 55,426 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (1,530 | ) | (7,298 | ) | |||||||||
Inventory | (4,348 | ) | (2,878 | ) | |||||||||
Intangibles | (35,641 | ) | (38,844 | ) | |||||||||
Other | (515 | ) | (84 | ) | |||||||||
(42,034 | ) | (49,104 | ) | ||||||||||
Net deferred tax assets | $ | 7,238 | $ | 6,322 | |||||||||
The domestic and foreign income (loss) before income tax provision are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Domestic | $ | (69,938 | ) | $ | (50,723 | ) | $ | 2,393 | |||||
Foreign | 53,423 | 1,298 | 36,355 | ||||||||||
$ | (16,515 | ) | $ | (49,425 | ) | $ | 38,748 | ||||||
As of December 31, 2013, the Company had the following net operating loss (“NOL”) carryforwards: $755,329 in the U.S., $12,311 in China, $55,752 in Canada, $33,966 in Hong Kong, $24 in Singapore, and $15,264 in the Netherlands. The U.S. NOLs expire in 2019 through 2033, the Canada NOLs expire in 2026 through 2033, and the Netherlands NOLs expire in 2014 through 2017. All other NOLs carry forward indefinitely. Canada has a capital loss of $385,069 that will carry forward indefinitely. For the year ended December 31, 2013, the Company recognized a benefit from the utilization of NOL carryforwards of $5,221, of which all was recognized in Canada and the Netherlands. | |||||||||||||
As of December 31, 2013 and 2012, the Company has established a full valuation allowance in both the U.S. and Canada for the deferred tax assets for NOL carryforwards. During the years ended December 31, 2013 and 2012, the Company increased the valuation allowance by $1,098 and $57,663, respectively. | |||||||||||||
In connection with the Company’s reorganization under Chapter 11 completed on January 31, 2003, Viasystems Group believes more than a 50% change in ownership occurred under Section 382 of the Internal Revenue Code of 1986, as amended, and regulations issued thereunder. As a consequence, the utilization of the U.S. NOLs is limited to approximately $21,687 per year (except to the extent the Company recognizes certain gains built in at the time of the ownership change), with any unused portion carried over to succeeding years. Any NOLs not utilized in a year can be carried over to succeeding years. | |||||||||||||
Certain of the Company’s subsidiaries have tax rate reductions in China that, as of December 31, 2013, allow for an annually-reviewed 10% rate reduction. If not for such tax rate reductions, the Company would have had $217 ($0.01 per basic and diluted shares outstanding), $594 ($0.03 per basic and diluted share outstanding) and $1,832 ($0.09 per basic and diluted share outstanding) of additional income tax expense for the years ended December 31, 2013, 2012 and 2011, respectively, based on the applicable reduced tax rate of 15%. | |||||||||||||
As of December 31, 2013, the Company has not recognized deferred income taxes on $145,237 of undistributed earnings of its foreign subsidiaries as such earnings are considered to be permanently reinvested in the Company’s foreign operations. If the earnings were distributed in the form of dividends, the Company estimates it would be subject to foreign distribution taxes of approximately $7,182 as of December 31, 2013. The Company estimates impact of any U.S. federal income tax would be offset by NOL carryforwards. | |||||||||||||
Uncertain Tax Positions | |||||||||||||
At December 31, 2013 and 2012, other non-current liabilities include $28,164 and $25,652 of long-term accrued taxes, respectively, related to the liability for unrecognized tax benefits. The Company classifies income tax-related interest and penalties as a component of income tax expense. At December 31, 2013 and 2012, the total unrecognized tax benefit in the consolidated balance sheet included a liability of $13,394 and $10,787, respectively, related to accrued interest and penalties on unrecognized tax benefits. The income tax provision included in the Company’s consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, included expense of $2,607, $1,638 and $1,111, respectively, related to interest and penalties on unrecognized tax benefits. | |||||||||||||
The liability for unrecognized tax benefits decreased by $95 from December 31, 2012, to December 31, 2013, primarily due to the reversal of $397 of uncertain tax positions due to lapsing of the applicable statute of limitations, partially offset by provisions related to tax positions taken in the current period, and interest and penalties related to positions taken in prior periods. At December 31, 2013 and 2012, the liability for unrecognized tax benefits included $28,164 and $25,652, respectively, that, if recognized, would affect the effective tax rate. The Company is in discussions with various taxing authorities on several open tax positions, and it is possible that the amount of the liability for unrecognized tax benefits could change during the next year. The Company currently estimates approximately $600 of the liability for uncertain tax positions could be settled in the next twelve months. | |||||||||||||
As of December 31, 2013, the Company is subject to U.S. federal income tax examination for all tax years from 1998 forward, and to non-U.S. income tax examinations generally for the tax years 2002 through 2012. In addition, the Company is subject to state and local income tax examinations generally for the tax years 2002 through 2012. | |||||||||||||
A reconciliation of the Company’s total gross unrecognized tax benefits, exclusive of related interest and penalties, for the years ended December 31, 2013, 2012 and 2011, is summarized below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, beginning of year | $ | 14,865 | $ | 15,664 | $ | 19,009 | |||||||
Tax positions related to current year: | |||||||||||||
Additions | 321 | 181 | 839 | ||||||||||
Reductions | — | — | — | ||||||||||
Tax positions related to prior years: | |||||||||||||
Additions | — | — | — | ||||||||||
Reductions | — | — | — | ||||||||||
Tax positions acquired from DDi | — | 787 | — | ||||||||||
Settlements | (19 | ) | (16 | ) | — | ||||||||
Lapses in statutes of limitations | (397 | ) | (1,751 | ) | (4,184 | ) | |||||||
Balance, end of year | $ | 14,770 | $ | 14,865 | $ | 15,664 | |||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments and Fair Value Measurements | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||
Derivative Financial Instruments and Fair Value Measurements | ' | ||||||||||||||
13. Derivative Financial Instruments and Fair Value Measurements | |||||||||||||||
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 the transacting of business in a currency 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 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 formally 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 ensuing fiscal year. | |||||||||||||||
The Company recognizes all such derivative contracts as either assets or liabilities in the balance sheet and measures those instruments at fair value (see Note 1) through adjustments to other comprehensive income, current earnings, or both, as appropriate. Accumulated other comprehensive (loss) income as of December 31, 2013, 2012 and 2011, included net deferred gains on derivatives of $933 (net of taxes $256), $1,340 (net of taxes $0) and $527 (net of taxes of $435), respectively related to cash flow hedges. | |||||||||||||||
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. As of December 31, 2013, all of the Company’s derivative contracts were in the form of the RMB cross-currency swaps and as of December 31, 2012, all of the Company’s derivative contracts were in the form of the RMB foreign exchange forward contracts and cross currency swaps, which were designated and qualified as cash flow hedging instruments. Realized gains or losses from the settlement of foreign exchange forward contracts and cross-currency swaps are recognized in earnings in the same period the hedged foreign currency cash flow affects earnings. For the years ended December 31, 2013, 2012 and 2011, gains of $5,784, $2,347 and $3,439, respectively, were recorded in cost of goods sold related to foreign currency cash flow hedges. | |||||||||||||||
The following table summarizes the Company’s outstanding derivative contracts: | |||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||
Notional amount in thousands of Chinese RMB | 479,096 | 1,200,000 | |||||||||||||
Weighted average remaining maturity in months | 6.4 | 6.1 | |||||||||||||
Weighted average exchange rate per one U.S. Dollar | 6.18 | 6.36 | |||||||||||||
In January 2014, the Company entered into derivative contracts to hedge an additional 786.6 million RMB with a weighted average exchange rate of 6.05 RMB per one U.S. dollars. | |||||||||||||||
Fair Value of Measurements | |||||||||||||||
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. | |||||||||||||||
Financial Instruments Measured on a Recurring Basis | |||||||||||||||
The following table sets forth, as of December 31, 2013 and 2012, the hierarchy of the Company’s financial asset (liability) positions for which fair value is measured on a recurring basis: | |||||||||||||||
December 31, 2013 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Available – for – sale investments in Savings Restoration Plan | $ | 1,077 | — | — | Prepaid expense and other | ||||||||||
Savings Restoration Plan liability | (1,143 | ) | — | — | Accrued and other liabilities | ||||||||||
Cash flow hedges – deferred gains contracts | — | 1,189 | — | Prepaid expense and other | |||||||||||
$ | (66 | ) | $ | 1,189 | $ | — | |||||||||
December 31, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Available – for – sale investments in Savings Restoration Plan | $ | 411 | — | — | Prepaid expense and other | ||||||||||
Savings Restoration Plan liability | (471 | ) | — | — | Accrued and other liabilities | ||||||||||
Cash flow hedges – deferred gains contracts | — | 1,340 | — | Prepaid expense and other | |||||||||||
$ | (60 | ) | $ | 1,340 | $ | — | |||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Cash flow hedges – deferred gain contracts | $ | — | 1,742 | — | Prepaid expense and other | ||||||||||
Cash flow hedges – deferred loss contracts | — | (779 | ) | — | Accrued and other liabilities | ||||||||||
$ | — | $ | 963 | $ | — | ||||||||||
Available-for-sale investments in the Savings Restoration Plan (see Note 17) consist of investments in money market accounts and mutual funds invested in a rabbi trust, and are valued based on quoted prices in active markets (Level 1). The liability to participants in the Savings Restoration Plan is equal to the fair value of the plan’s investments, with any difference attributable to the timing of deposits into the trust. | |||||||||||||||
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. 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 counter parties 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. | |||||||||||||||
The Company did not have any transfers between levels during the years ended December 31, 2013, 2012 or 2011. | |||||||||||||||
Other Financial Instruments | |||||||||||||||
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 as of December 31, 2013 and 2012, are as follows: | |||||||||||||||
December 31, 2013 | |||||||||||||||
Fair | Carrying | Balance Sheet Classification | |||||||||||||
Value | Amount | ||||||||||||||
Senior Secured Notes due 2019 | $ | 595,034 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||
North America Mortgage Loans | 11,710 | 12,259 | 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 | — | — | |||||||||||||
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 | ||||||||||||
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. |
Equity_Incentive_Plans
Equity Incentive Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Equity Incentive Plans | ' | ||||||||||||||||||||||||
14. Equity Incentive Plans | |||||||||||||||||||||||||
2010 Equity Incentive Plan | |||||||||||||||||||||||||
The 2010 Plan was adopted in April 2010, and provides for grants of stock options, restricted stock awards, performance share units and other stock-based awards to the Company’s employees and directors. Subject to additions and adjustments, 4,600,000 shares are authorized for granting under the 2010 Plan. At December 31, 2013, 920,171 shares were available for future grants. | |||||||||||||||||||||||||
The 2010 Plan provides the compensation committee of the Company’s board of directors the discretion to grant awards in any form and with any terms permitted by the 2010 Plan. All stock option grants awarded since the inception of the 2010 Plan expire 7 years after the grant date, with one-third of the options vesting on the first anniversary of the grant date, and one-twelfth of the options vesting on each of the next eight ensuing calendar quarter-ends. Subject to certain accelerated vesting provisions of the 2010 Plan, restricted stock awards granted since the inception of the 2010 Plan vest on the third anniversary of the grant date. Performance share units vest only if the performance objectives of the awards are met as measured over the performance period established for each grant. Based upon the extent to which performance objectives are achieved, shares issued upon the vesting of share units may range from zero to 200% of the original grant. | |||||||||||||||||||||||||
2003 Stock Option Plan | |||||||||||||||||||||||||
In January 2013, the Company’s 2003 Stock Option Plan (the “2003 Plan”) expired such that no new awards may be granted under that plan. The 2003 Plan allowed for the granting of options to purchase shares of the Company’s common stock. Options granted expire 10 years after the grant date. At December 31, 2013, 62,519 options were issued and outstanding under this plan. | |||||||||||||||||||||||||
Stock Compensation Expense | |||||||||||||||||||||||||
Stock compensation expense recognized in the consolidated statements of operations was as follows: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Cost of goods sold | $ | 684 | $ | 640 | $ | 506 | |||||||||||||||||||
Selling, general and administrative | 8,730 | 9,923 | 7,191 | ||||||||||||||||||||||
$ | 9,414 | $ | 10,563 | $ | 7,697 | ||||||||||||||||||||
As of December 31, 2013, unrecognized compensation expense related to grants of stock options, restricted stock awards and performance share units totaled $10,260 and will be recognized over a period of approximately three years. | |||||||||||||||||||||||||
Stock Option Activity | |||||||||||||||||||||||||
The following table summarizes the stock option activity under both the 2003 Plan and the 2010 Plan for the year ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Options | Exercise | Options | Exercise | Options | Exercise | ||||||||||||||||||||
Price(1) | Price(1) | Price(1) | |||||||||||||||||||||||
Beginning balance | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | 1,194,640 | $ | 43.13 | ||||||||||||||||
Granted | 22,500 | 13.47 | 406,962 | 17.7 | 542,784 | 20.44 | |||||||||||||||||||
Exercised | — | — | — | — | (833 | ) | 21.88 | ||||||||||||||||||
Forfeited | (182,386 | ) | 102.43 | (54,764 | ) | 54.16 | (59,779 | ) | 37.51 | ||||||||||||||||
Ending balance | 1,869,124 | $ | 24.73 | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | ||||||||||||||||
Exercisable at year end | 1,697,339 | $ | 25.5 | 1,377,982 | $ | 37.97 | 753,165 | $ | 54.47 | ||||||||||||||||
-1 | weighted average | ||||||||||||||||||||||||
The exercise price for all options outstanding and options exercisable as of December 31, 2013, was above the closing market price of the Company’s stock on that day. | |||||||||||||||||||||||||
The fair value of each option grant during the years ended December 31, 2013, 2012 and 2011 was estimated on the date of the grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Expected life of options | 4.3 years | 4.3 years | 4.3 years | ||||||||||||||||||||||
Risk free interest rate | 0.75% to 0.88% | 0.63% to 0.85% | 0.91% to 2.39% | ||||||||||||||||||||||
Expected volatility of stock | 54.66% to 54.94% | 62.12% to 67.05% | 60.72% to 62.73% | ||||||||||||||||||||||
Expected dividend yield | None | None | None | ||||||||||||||||||||||
Weighted average fair value | $5.95 | $8.86 | $10.22 | ||||||||||||||||||||||
The Company’s common stock was listed and began trading on the NASDAQ on February 17, 2010. For stock options granted during the year ended December 31, 2013, the Company estimated the expected volatility of the underlying shares using its historical stock performance. In prior years, 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. | |||||||||||||||||||||||||
As of December 31, 2013, outstanding stock options under the 2003 Plan had an exercise price of $150.99; and outstanding stock options under the 2010 Plan had exercise prices ranging from $12.66 to $24.00. The following table summarizes information regarding outstanding stock options under these plans as of December 31, 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 | 435,898 | 5.13 years | $ | 17.21 | 271,574 | 4.96 years | $ | 17.42 | |||||||||||||||||
$ 20.38 to $21.04 | 493,197 | 4.01 years | 20.41 | 489,696 | 4.00 years | 20.4 | |||||||||||||||||||
$ 21.88 to $24.00 | 877,510 | 3.27 years | 21.89 | 873,550 | 3.26 years | 21.89 | |||||||||||||||||||
$150.99 | 62,519 | 2.09 years | 150.99 | 62,519 | 2.09 years | 150.99 | |||||||||||||||||||
1,869,124 | 3.86 years | $ | 24.73 | 1,697,339 | 3.71 years | $ | 25.5 | ||||||||||||||||||
Restricted Stock Award Activity | |||||||||||||||||||||||||
The following table summarizes restricted stock award activity for the year ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant Date | Grant Date | Grant Date | |||||||||||||||||||||||
Per Share | Per Share | Per Share | |||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||||||
Nonvested, beginning of year | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | 257,932 | $ | 16.6 | ||||||||||||||||
Granted | 203,089 | 13.5 | 240,825 | 19.02 | 154,519 | 20.41 | |||||||||||||||||||
Vested | (244,973 | ) | 16.61 | (10,406 | ) | 18.13 | (3,428 | ) | 16.62 | ||||||||||||||||
Forfeited | (11,509 | ) | 16.96 | (6,579 | ) | 19.85 | (3,428 | ) | 16.62 | ||||||||||||||||
Nonvested, end of year | 576,042 | $ | 17.47 | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | ||||||||||||||||
Restricted stock awards outstanding as of December 31, 2013, had an aggregate intrinsic value of $7,880. As of the vesting date, the total fair value of restricted stock awards which vested during 2013 was $2,885. | |||||||||||||||||||||||||
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 are estimated using the Monte Carlo simulation method and expensed ratably over the requisite service period. For performance share units without market conditions, the grant date fair value of awards is based on the share price of the Company’s common stock on the date of grant and 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. For performance share units granted in 2013, the performance objectives were based on the achievement of targeted future stock prices of the Company’s common stock over a period of three years. For performance share units granted in 2012, the performance objectives were based on the achievement of targeted levels of Adjusted EBITDA and return on invested capital (both as defined in the grant agreements) over a period of three to five years. | |||||||||||||||||||||||||
The following table summarizes performance share unit activity for the years ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Share Units | Weighted | Share Units | 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 | (8,966 | ) | 17.04 | — | — | ||||||||||||||||||||
Nonvested, at end of year | 558,113 | $ | 17.02 | 139,343 | $ | 18.42 | |||||||||||||||||||
No performance share units were granted in 2011. |
Business_Segment_Information
Business Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Business Segment Information | ' | ||||||||||||
15. Business Segment Information | |||||||||||||
Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. During the year ended December 31, 2013, the Company operated its business in two segments: i) Printed Circuit Boards and ii) Assembly. | |||||||||||||
The Printed Circuit Boards segment consists of the Company’s 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 enclosures, and full system assembly and testing. The assembly operations are conducted in manufacturing facilities in China and Mexico. Intersegment sales are eliminated in consolidation. The accounting policies of segments are the same as those described in Note 1. | |||||||||||||
Assets and liabilities of the Company’s corporate headquarters, along with those of its closed printed circuit boards and assembly operations, are reported in “Other.” Operating expenses of our corporate headquarters are allocated to the Printed Circuit Boards and Assembly segments based on a number of factors, including sales. | |||||||||||||
Total assets by segment are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Total assets: | |||||||||||||
Printed Circuit Boards | $ | 975,570 | $ | 955,618 | |||||||||
Assembly | 99,857 | 87,280 | |||||||||||
Other | 42,990 | 63,283 | |||||||||||
Total assets | $ | 1,118,417 | $ | 1,106,181 | |||||||||
Net sales and operating income (loss) by segment, together with reconciliation to (loss) income before income taxes, are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales to external customers: | |||||||||||||
Printed Circuit Boards | $ | 996,528 | $ | 959,793 | $ | 856,319 | |||||||
Assembly | 174,518 | 200,113 | 200,998 | ||||||||||
Total | $ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | |||||||
Intersegment sales: | |||||||||||||
Printed Circuit Boards | $ | 11,581 | $ | 7,379 | $ | 9,628 | |||||||
Assembly | — | — | — | ||||||||||
Total | $ | 11,581 | $ | 7,379 | $ | 9,628 | |||||||
Operating income (loss): | |||||||||||||
Printed Circuit Boards | $ | 25,255 | $ | 27,357 | $ | 65,550 | |||||||
Assembly | 565 | 1,639 | 6,656 | ||||||||||
Other | (623 | ) | (9,727 | ) | (1,335 | ) | |||||||
Total | 25,197 | 19,269 | 70,871 | ||||||||||
Interest expense, net | 44,797 | 42,156 | 28,906 | ||||||||||
Amortization of deferred financing costs | 2,898 | 2,723 | 2,015 | ||||||||||
Loss on early extinguishment of debt | — | 24,234 | — | ||||||||||
Other, net | (5,983 | ) | (419 | ) | 1,202 | ||||||||
(Loss) income before income taxes | $ | (16,515 | ) | $ | (49,425 | ) | $ | 38,748 | |||||
Capital expenditures and depreciation expense by segment are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Capital expenditures: | |||||||||||||
Printed Circuit Boards | $ | 100,881 | $ | 102,058 | $ | 93,387 | |||||||
Assembly | 6,653 | 5,952 | 7,639 | ||||||||||
Other | 987 | 711 | 638 | ||||||||||
Total capital expenditures | $ | 108,521 | $ | 108,721 | $ | 101,664 | |||||||
Depreciation expense: | |||||||||||||
Printed Circuit Boards | $ | 83,554 | $ | 75,506 | $ | 61,995 | |||||||
Assembly | 4,506 | 4,513 | 3,943 | ||||||||||
Total depreciation expense | $ | 88,060 | $ | 80,019 | $ | 65,938 | |||||||
Net sales by country of destination are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 526,744 | $ | 465,798 | $ | 384,594 | |||||||
People’s Republic of China, including Hong Kong | 234,072 | 244,290 | 247,321 | ||||||||||
Germany | 46,237 | 55,305 | 63,955 | ||||||||||
Canada | 43,874 | 40,070 | 27,312 | ||||||||||
Malaysia | 43,651 | 44,474 | 30,633 | ||||||||||
Hungary | 42,374 | 43,141 | 44,288 | ||||||||||
Netherlands | 27,169 | 27,084 | 9,143 | ||||||||||
France | 22,316 | 27,733 | 43,066 | ||||||||||
India | 21,662 | 28,905 | 29,032 | ||||||||||
Singapore | 19,915 | 16,366 | 14,560 | ||||||||||
Mexico | 14,026 | 8,248 | 11,820 | ||||||||||
Sweden | 13,969 | 7,877 | 4,624 | ||||||||||
Brazil | 13,508 | 14,632 | 4,913 | ||||||||||
Thailand | 12,959 | 12,873 | 11,290 | ||||||||||
Israel | 12,326 | 15,651 | 10,552 | ||||||||||
United Kingdom | 12,052 | 19,542 | 20,876 | ||||||||||
Portugal | 9,555 | 15,223 | 12,888 | ||||||||||
Czech Republic | 9,026 | 13,585 | 15,991 | ||||||||||
Other | 45,611 | 59,109 | 70,459 | ||||||||||
Total | $ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | |||||||
Net sales by country of manufacture are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
People’s Republic of China | $ | 758,425 | $ | 829,593 | $ | 877,987 | |||||||
United States | 282,036 | 246,959 | 142,675 | ||||||||||
Canada | 75,106 | 41,881 | — | ||||||||||
Mexico | 55,479 | 41,473 | 36,655 | ||||||||||
$ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | ||||||||
Property, plant and equipment, net by country are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
People’s Republic of China, including Hong Kong | $ | 302,563 | $ | 284,690 | |||||||||
United States | 104,647 | 104,192 | |||||||||||
Canada | 30,448 | 30,951 | |||||||||||
Mexico | 8,830 | 8,135 | |||||||||||
$ | 446,488 | $ | 427,968 | ||||||||||
Accumulated_Other_Compensation
Accumulated Other Compensation Income | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Accumulated Other Compensation Income | ' | ||||||||||||
16. Accumulated Other Compensation Income | |||||||||||||
Changes in accumulated other comprehensive income, by component, for the years ended December 31, 2013, 2012, and 2011, were as follows: | |||||||||||||
Cash Flow | Foreign | Total | |||||||||||
Hedges | Currency | ||||||||||||
(see Note13) | Translation | ||||||||||||
Accumulated other comprehensive income at December 31, 2010 | $ | 20 | $ | 7,676 | $ | 7,696 | |||||||
Other comprehensive income, net of tax and before reclassifications | 3,946 | — | 3,946 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (3,439 | ) | (148 | ) | (3,587 | ) | |||||||
Other comprehensive (loss) income, net of tax | 507 | (148 | ) | 359 | |||||||||
Accumulated other comprehensive income at December 31, 2011 | $ | 527 | $ | 7,528 | $ | 8,055 | |||||||
Other comprehensive income, net of tax and before reclassifications | 3,160 | — | 3,160 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (2,347 | ) | — | (2,347 | ) | ||||||||
Other comprehensive income, net of tax | 813 | — | 813 | ||||||||||
Accumulated other comprehensive income at December 31, 2012 | $ | 1,340 | $ | 7,528 | $ | 8,868 | |||||||
Other comprehensive income, net of tax and before reclassifications | 5,377 | — | 5,377 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (5,784 | ) | — | (5,784 | ) | ||||||||
Other comprehensive loss, net of tax | (407 | ) | — | (407 | ) | ||||||||
Accumulated other comprehensive income at December 31, 2013 | $ | 933 | $ | 7,528 | $ | 8,461 | |||||||
Other comprehensive income (loss) for the years ended December 31, 2013, 2012 and 2011, was net of tax of $256, $0 and $436, respectively. |
Retirement_Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Retirement Plans | ' |
17. Retirement Plans | |
The Company has a defined contribution retirement savings plan (the “Retirement Plan”) covering substantially all domestic employees who meet certain eligibility requirements as to age and length of service. The Retirement Plan incorporates the salary deferral provision of Section 401(k) of the Internal Revenue Code and employees may defer up to 30% of their compensation or the annual maximum limit prescribed by the Internal Revenue Code. The Company matches a percentage of the employees’ deferrals (the “Matching Contribution”) and may contribute an additional 1% of employees’ salaries to the Retirement Plan regardless of employee deferrals. The Company may also elect to contribute an additional profit-sharing contribution at the end of each year. At the beginning of 2013, the employees of the U.S. based manufacturing facilities acquired from DDi became eligible to receive Matching Contributions under the Retirement Plan. The Company’s contributions to the Retirement Plan were $1,871, $1,310 and $1,227 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
The Company has a savings restoration plan (the “Savings Restoration Plan”) to provide additional benefits to certain domestic employees who are not eligible to receive the full Matching Contribution due to limitations imposed by the Internal Revenue Code. The Savings Restoration Plan also allows for the voluntary deferral of certain compensation by eligible employees. The Company’s expense related to the Savings Restoration Plan were $114 and $120 for the years ended December 31, 2013 and 2012, respectively. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
18. Related Party Transactions | |
Noncontrolling Interest Holder | |
The Company purchases consulting and other services from the Noncontrolling Interest Holder related to its Huiyang, China PCB manufacturing facility. During the years ended December 31, 2013, 2012 and 2011, the Company paid the Noncontrolling Interest Holder $107, $108 and $118, respectively, related to these services and as of December 31, 2013, $23 was payable to the Noncontrolling Interest Holder. | |
Prior to the 2012 closure of the Huizhou Facility, the Company made rental payments and purchased consulting and other services from the Noncontrolling Interest Holder related to the Huizhou Facility. During the years ended December 31, 2012 and 2011, the Company paid the Noncontrolling Interest Holder $721 and $781, respectively, related to these rental payments service fees. | |
Compensation of Directors | |
For each of the years ended December 31, 2013, 2012 and 2011, the Company paid director fees based on the following rates: the Chairman of the Board receives an annual fee of $120; directors (other than the Chairman) who are not executive officers receive an annual fee of $60; members of the Audit Committee, Compensation Committee and Nominating and Governance Committee receives an additional annual fee of $15, $13 and $10, respectively; and the chairman of the Audit Committee, Compensation Committee and Nominating and Governance Committee receive an additional fee of $15, $13 and $10, respectively. In addition, Directors are reimbursed for out-of-pocket expenses incurred in connection with attending meetings of the Board and its committees. | |
In 2013, the Company awarded each director who was not an executive officer 11,848 shares of restricted stock as of the date of the Company’s annual shareholders meeting. In 2012, the Company awarded each director who was not an executive officer 6,852 shares of restricted stock as of the Company’s annual shareholders meeting and granted two directors who joined the board subsequently 7,333 shares of restricted stock each. In 2011, upon joining the board, the Company granted a new director 7,129 shares of restricted stock. |
Summary_of_Interim_Financial_I
Summary of Interim Financial Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Summary of Interim Financial Information | ' | ||||||||||||||||||||
19. Summary of Interim Financial Information (unaudited) | |||||||||||||||||||||
Quarterly financial data for the years ended December 31, 2013 and 2012 is presented below: | |||||||||||||||||||||
Quarter | |||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
2013:00:00 | |||||||||||||||||||||
Net sales | $ | 272,940 | $ | 285,553 | $ | 309,172 | $ | 303,381 | $ | 1,171,046 | |||||||||||
Cost of goods sold | 219,058 | 232,448 | 253,737 | 244,253 | 949,496 | ||||||||||||||||
Selling, general and administrative | 27,693 | 25,001 | 25,192 | 22,619 | 100,505 | ||||||||||||||||
Depreciation and amortization | 23,636 | 23,556 | 23,537 | 24,046 | 94,775 | ||||||||||||||||
Restructuring and impairment | — | — | 347 | 726 | 1,073 | ||||||||||||||||
Operating income | 2,553 | 4,548 | 6,359 | 11,737 | 25,197 | ||||||||||||||||
Net (loss) income | (13,282 | ) | (10,268 | ) | (9,032 | ) | 4,972 | (27,610 | ) | ||||||||||||
Noncontrolling interest | 173 | 101 | 121 | 215 | 610 | ||||||||||||||||
Net (loss) income attributable to common stockholders | (13,455 | ) | (10,369 | ) | (9,153 | ) | 4,757 | (28,220 | ) | ||||||||||||
Basic earnings per share | $ | (0.67 | ) | $ | (0.52 | ) | $ | (0.45 | ) | $ | 0.24 | $ | (1.40 | ) | |||||||
Diluted earnings per share | $ | (0.67 | ) | $ | (0.52 | ) | $ | (0.45 | ) | $ | 0.23 | $ | (1.40 | ) | |||||||
Basic weighted average shares outstanding | 19,994,820 | 20,010,029 | 20,171,083 | 20,179,174 | 20,089,507 | ||||||||||||||||
Diluted weighted average shares outstanding | 19,994,820 | 20,010,029 | 20,171,083 | 20,464,264 | 20,089,507 | ||||||||||||||||
2012:00:00 | |||||||||||||||||||||
Net sales | $ | 262,089 | $ | 296,861 | $ | 327,352 | $ | 273,604 | $ | 1,159,906 | |||||||||||
Cost of goods sold | 211,057 | 235,556 | 261,953 | 218,588 | 927,154 | ||||||||||||||||
Selling, general and administrative | 21,492 | 31,228 | 27,635 | 29,105 | 109,460 | ||||||||||||||||
Depreciation and amortization | 17,394 | 19,381 | 23,925 | 23,866 | 84,566 | ||||||||||||||||
Restructuring and impairment | 6,987 | 1,958 | 9,480 | 1,032 | 19,457 | ||||||||||||||||
Operating income | 5,159 | 8,738 | 4,359 | 1,013 | 19,269 | ||||||||||||||||
Net (loss) income | (5,137 | ) | (33,038 | ) | (9,545 | ) | (14,498 | ) | (62,218 | ) | |||||||||||
Noncontrolling interest | (495 | ) | 271 | 243 | 70 | 89 | |||||||||||||||
Net (loss) income attributable to common stockholders | (4,642 | ) | (33,309 | ) | (9,788 | ) | (14,568 | ) | (62,307 | ) | |||||||||||
Basic earnings per share | $ | (0.23 | ) | $ | (1.67 | ) | $ | (0.49 | ) | $ | (0.73 | ) | $ | (3.12 | ) | ||||||
Diluted earnings per share | $ | (0.23 | ) | $ | (1.67 | ) | $ | (0.49 | ) | $ | (0.73 | ) | $ | (3.12 | ) | ||||||
Basic weighted average shares outstanding | 19,984,414 | 19,990,628 | 19,994,820 | 19,994,820 | 19,991,190 | ||||||||||||||||
Diluted weighted average shares outstanding | 19,984,414 | 19,990,628 | 19,994,820 | 19,994,820 | 19,991,190 | ||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Nature of Business | ' | ||||||||||||
Nature of Business | |||||||||||||
The Company is a leading worldwide provider of complex multi-layer printed circuit boards (“PCB”) 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, data networking equipment, telecommunications switching equipment, complex medical, technical and industrial instruments, and flight control systems. | |||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The accompanying 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 generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) 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 our consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected 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 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. | |||||||||||||
Accounts Receivable and Concentration of Credit Risk | ' | ||||||||||||
Accounts Receivable and Concentration of Credit Risk | |||||||||||||
Accounts receivable balances represent customer trade receivables generated from the Company’s operations. To reduce the potential for credit risk, the Company evaluates the collectability of customer balances based on a combination of factors but does not generally require significant collateral. The Company regularly analyzes significant customer balances, and when it becomes evident a specific customer will be unable to meet its financial obligations to the Company for reasons including, but not limited to, bankruptcy filings or deterioration in the customer’s operating results or financial position, a specific allowance for doubtful accounts is recorded to reduce the related receivable to the amount that is believed reasonably collectible. The Company also records an allowance for doubtful accounts for all other customers based on a variety of factors, including the length of time the receivables are past due, historical experience and current economic conditions. If circumstances related to specific customers change, estimates of the recoverability of receivables could be further adjusted. | |||||||||||||
The provision for bad debts is included in selling, general and administrative expense. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. | |||||||||||||
Inventories | ' | ||||||||||||
Inventories | |||||||||||||
Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) and average cost methods. Cost includes raw materials, labor and manufacturing overhead. | |||||||||||||
Property, Plant and Equipment | ' | ||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are stated at cost. Repairs and maintenance that do not extend the useful life of an asset are charged to expense as incurred. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the operations for the period. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Buildings | 20-50 years | ||||||||||||
Leasehold improvements | 3-15 years | ||||||||||||
Machinery, equipment, systems and other | 3-10 years | ||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company reviews intangible assets with a finite life and other long-lived assets for impairment if facts and circumstances exist that indicate the asset’s useful life is shorter than previously estimated or the carrying amount may not be recoverable from future operations based on undiscounted expected future cash flows. Impairment losses are recognized in operating results for the amount by which the carrying value of the asset exceeds its fair value. In addition, the remaining useful life of an impaired asset group would be reassessed and revised, if necessary. | |||||||||||||
Goodwill | ' | ||||||||||||
Goodwill | |||||||||||||
Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of identifiable net tangible and intangible assets acquired. Goodwill and other indefinite-lived intangible assets are not amortized but are reviewed for impairment annually or more frequently if a triggering event were to occur in an interim period. | |||||||||||||
Intangible Assets | ' | ||||||||||||
Intangible Assets | |||||||||||||
Intangible assets consist primarily of identifiable intangibles acquired. Amortization of identifiable intangible assets acquired is computed using systematic methods over the estimated useful lives of the related assets as follows: | |||||||||||||
Life | Method | ||||||||||||
Patents, trademarks and trade names | 2-5 years | Straight-line | |||||||||||
Customer lists | 12-20 years | Straight-line | |||||||||||
Manufacturer sales representative network | 12-20 years | Straight-line | |||||||||||
Developed technologies | 15 years | Double-declining | |||||||||||
balance | |||||||||||||
Impairment testing of these assets would occur if and when an indicator of impairment is identified. | |||||||||||||
Deferred Financing Costs | ' | ||||||||||||
Deferred Financing Costs | |||||||||||||
Deferred financing costs, consisting of fees and other expenses associated with debt financing, are amortized over the term of the related debt using the straight-line method, which approximates the effective interest method. | |||||||||||||
Product Warranties | ' | ||||||||||||
Product Warranties | |||||||||||||
Provisions for estimated expenses related to product warranties are generally made at the time products are sold. These estimates are established using historical information on the nature, frequency and average cost of warranty claims. | |||||||||||||
Amounts accrued for warranty reserves are included in accrued and other liabilities (see Note 8). The following table summarizes changes in the reserve for the years ended December 31, 2013 and 2012: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 9,211 | $ | 5,999 | |||||||||
Provision | 8,501 | 6,540 | |||||||||||
Acquired from DDi | — | 3,817 | |||||||||||
Claims and adjustments | (9,173 | ) | (7,145 | ) | |||||||||
Balance, end of year | $ | 8,539 | $ | 9,211 | |||||||||
Environmental Costs | ' | ||||||||||||
Environmental Costs | |||||||||||||
Accruals for environmental matters are recorded in operating expenses when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Accrued liabilities do not include claims against third parties and are not discounted. Costs related to environmental remediation are charged to expense. Other environmental costs are also charged to expense unless they increase the value of the property and/or mitigate or prevent contamination from future operations, in which event they are capitalized. | |||||||||||||
Derivative Financial Instruments | ' | ||||||||||||
Derivative Financial Instruments | |||||||||||||
From time to time, the Company enters into cash flow hedges in the form of foreign exchange forward contracts and cross-currency swaps to minimize the short-term impact of foreign currency fluctuations. However, there can be no assurance that these activities will eliminate or reduce foreign currency risk. To reduce the potential for credit risk associated with cash flow hedges, the Company monitors the credit ratings of the counter parties to its hedging transactions. The foreign exchange forward contracts and cross-currency swaps are designated as cash flow hedges and are accounted for at fair value. The effective portion of the change in each cash flow hedge’s gain or loss is reported as a component of other comprehensive (loss) income, net of taxes. The ineffective portion of the change in the cash flow hedge’s gain or loss is recorded in earnings at each measurement date. Gains and losses on derivative contracts are reclassified from accumulated other comprehensive (loss) income to current period earnings in the line item in which the hedged item is recorded in the same period the hedged foreign currency cash flow affects earnings (see Note 13). | |||||||||||||
Foreign Currency Translation and Remeasurement | ' | ||||||||||||
Foreign Currency Translation and Remeasurement | |||||||||||||
All the Company’s foreign subsidiaries use the U.S. dollar as their functional currency. Net (loss) income includes gains and losses arising from transactions denominated in currencies other than the U.S. dollar, the impact of remeasuring local currency denominated assets and liabilities of foreign subsidiaries to the U.S. dollar and the realized gains and losses resulting from the Company’s foreign currency hedging activities. | |||||||||||||
As a result of the reversal of cumulative translation adjustments in connection with the liquidation of certain foreign investments, the Company recorded net translation adjustments of $148 for the year ended December 31, 2011, which reduced accumulated other comprehensive income in that year. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
Revenue is recognized when all of the following criteria are satisfied: persuasive evidence of an arrangement exists; risk of loss and title transfer to the customer; the price is fixed and determinable; and collectability is reasonably assured. Sales and related costs of goods sold are included in income when goods are shipped to the customer in accordance with the delivery terms, except in the case of vendor managed inventory arrangements, whereby sales and the related costs of goods sold are included in income when possession of goods is taken by the customer. Generally, there are no formal customer acceptance requirements or further obligations related to manufacturing services. If such requirements or obligations exist, then revenue is recognized at the time when such requirements are completed and the obligations are fulfilled. Services provided as part of the manufacturing process represent less than 10% of sales. Reserves for product returns are recorded based on historical trend rates at the time of sale. | |||||||||||||
Shipping Costs | ' | ||||||||||||
Shipping Costs | |||||||||||||
Costs incurred by the Company to ship finished goods to its customers are included in cost of goods sold on the consolidated statements of operations and comprehensive income. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
The Company accounts for certain items of income and expense in different periods for financial reporting and income tax purposes. Provisions for deferred income taxes are made in recognition of such temporary differences, where applicable. A valuation allowance is established against deferred tax assets unless the Company believes it is more likely than not that the benefit will be realized. | |||||||||||||
The Company provides for uncertain tax positions and the related interest and penalties based upon its assessment of whether it is more likely than not that the tax position will be sustained on examination by the taxing authorities, given the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. | |||||||||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. | |||||||||||||
Earnings or Loss Per Share | ' | ||||||||||||
Earnings or Loss Per Share | |||||||||||||
The Company computes basic (loss) earnings per share by dividing its net (loss) income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. The computation of diluted (loss) earnings per share is based on the weighted average number of common shares outstanding during the period plus dilutive common equivalent shares (consisting primarily of employee stock options and unvested stock awards). The potentially dilutive impact of the Company’s share-based compensation awards is determined using the treasury stock method. | |||||||||||||
The components used in the computation of our basic and diluted (loss) earnings per share attributable to common stockholders were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income attributable to common stockholders | $ | (28,220 | ) | $ | (62,307 | ) | $ | 28,493 | |||||
Basic weighted average shares outstanding | 20,089,507 | 19,991,190 | 19,981,022 | ||||||||||
Dilutive effect of stock options | — | — | 2,630 | ||||||||||
Dilutive effect of restrictive stock awards | — | — | 146,135 | ||||||||||
Dilutive effect of performance share units | — | — | — | ||||||||||
Dilutive weighted average shares outstanding | 20,089,507 | 19,991,190 | 20,129,787 | ||||||||||
Basic (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.43 | |||||
Diluted (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.42 | |||||
For the year ended December 31, 2013, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 1,869,124 shares of common stock, ii) unvested restricted stock awards of 576,042 because their inclusion would be antidilutive, and iii) the effect of performance share units representing a maximum of 971,518 shares of common stock because the related performance measures were not attainable during the period. For the year ended December 31, 2012, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 2,029,010 shares of common stock, ii) unvested restricted stock awards of 629,435, iii) long-term debt convertible into 6,593 shares of common stock because their inclusion would be antidilutive and iv) the effect of performance share units representing a maximum of 278,686 shares of common stock because the related performance measures were not attainable during the period. For the year ended December 31, 2011, the calculation of diluted weighted average shares outstanding excludes i) the effect of options to purchase 1,644,812 shares of common stock and ii) long-term debt convertible into 6,593 shares of common stock because their inclusion would be antidilutive. | |||||||||||||
Employee Stock-Based Compensation | ' | ||||||||||||
Employee Stock-Based Compensation | |||||||||||||
The Company maintains two stock option plans, the “2010 Equity Incentive Plan” and the “2003 Stock Option Plan,” and recognizes compensation expense for share-based awards, including stock options and restricted stock awards, ratably over the awards’ vesting periods based on the grant date fair values of the awards (see Note 14). | |||||||||||||
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 (the “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 (the “Huizhou Facility”), and the 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. | |||||||||||||
Research and Development | ' | ||||||||||||
Research and Development | |||||||||||||
Research, development and engineering expenditures for the creation and application of new products and processes were approximately $4,304, $3,615 and $2,517 for the years ended December 31, 2013, 2012 and 2011, respectively. Research and development is included in the selling, general and administrative line item on the consolidated statements of operations and comprehensive (loss) income. | |||||||||||||
Reclassifications | ' | ||||||||||||
Reclassifications | |||||||||||||
The accompanying consolidated financial statements for prior years contain certain reclassifications to conform to the presentation used in the current period. | |||||||||||||
Recently Adopted Accounting Pronouncements | ' | ||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||
On January 1, 2013, the Company adopted a new accounting standard which requires it 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 as of 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 16). | |||||||||||||
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 does not expect the adoption of this standard will have a material impact on its consolidated financial statements when adopted. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Property, Plant and Equipment, Estimated Useful Life | ' | ||||||||||||
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Buildings | 20-50 years | ||||||||||||
Leasehold improvements | 3-15 years | ||||||||||||
Machinery, equipment, systems and other | 3-10 years | ||||||||||||
Identifiable Intangible Assets Acquired, Estimated Useful Life | ' | ||||||||||||
Amortization of identifiable intangible assets acquired is computed using systematic methods over the estimated useful lives of the related assets as follows: | |||||||||||||
Life | Method | ||||||||||||
Patents, trademarks and trade names | 2-5 years | Straight-line | |||||||||||
Customer lists | 12-20 years | Straight-line | |||||||||||
Manufacturer sales representative network | 12-20 years | Straight-line | |||||||||||
Developed technologies | 15 years | Double-declining | |||||||||||
balance | |||||||||||||
Summary of Changes in Accrued Warranty Reserves | ' | ||||||||||||
The following table summarizes changes in the reserve for the years ended December 31, 2013 and 2012: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 9,211 | $ | 5,999 | |||||||||
Provision | 8,501 | 6,540 | |||||||||||
Acquired from DDi | — | 3,817 | |||||||||||
Claims and adjustments | (9,173 | ) | (7,145 | ) | |||||||||
Balance, end of year | $ | 8,539 | $ | 9,211 | |||||||||
Components Used in Computation of Basic and Diluted Earnings (Loss) Per Share | ' | ||||||||||||
The components used in the computation of our basic and diluted (loss) earnings per share attributable to common stockholders were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income attributable to common stockholders | $ | (28,220 | ) | $ | (62,307 | ) | $ | 28,493 | |||||
Basic weighted average shares outstanding | 20,089,507 | 19,991,190 | 19,981,022 | ||||||||||
Dilutive effect of stock options | — | — | 2,630 | ||||||||||
Dilutive effect of restrictive stock awards | — | — | 146,135 | ||||||||||
Dilutive effect of performance share units | — | — | — | ||||||||||
Dilutive weighted average shares outstanding | 20,089,507 | 19,991,190 | 20,129,787 | ||||||||||
Basic (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.43 | |||||
Diluted (loss) earnings per share | $ | (1.40 | ) | $ | (3.12 | ) | $ | 1.42 | |||||
The_DDi_Acquisition_Tables
The DDi Acquisition (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Unaudited Pro Forma Results of Operations | ' | ||||
The following table summarizes the unaudited pro forma results of operations: | |||||
Year Ended | |||||
December 31, 2012 | |||||
Net sales | $ | 1,272,908 | |||
Net (loss) income | $ | (22,909 | ) | ||
Accounts_Receivable_and_Concen1
Accounts Receivable and Concentration of Credit Risk (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Allowance for Doubtful Accounts | ' | ||||||||||||
The activity in the allowance for doubtful accounts is summarized as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, beginning of year | $ | 2,680 | $ | 2,770 | $ | 2,280 | |||||||
Provision | 1,660 | 2,066 | 2,499 | ||||||||||
Write-offs, credits and adjustments | (693 | ) | (2,156 | ) | (2,009 | ) | |||||||
Balance, end of year | $ | 3,647 | $ | 2,680 | $ | 2,770 |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
The composition of inventories at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 42,538 | $ | 42,149 | |||||
Work in process | 35,504 | 34,136 | |||||||
Finished goods | 44,140 | 34,744 | |||||||
Total | $ | 122,182 | $ | 111,029 | |||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Composition of Property, Plant and Equipment | ' | ||||||||
The composition of property, plant and equipment at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Land and buildings | $ | 157,245 | $ | 126,142 | |||||
Machinery, equipment and systems | 638,348 | 718,321 | |||||||
Leasehold improvements | 91,662 | 84,197 | |||||||
Construction in progress | 26,874 | 24,848 | |||||||
914,129 | 953,508 | ||||||||
Less: Accumulated depreciation | (467,641 | ) | (525,540 | ) | |||||
Total | $ | 446,488 | $ | 427,968 | |||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Components of Intangible Assets Subject to Amortization | ' | ||||||||||||||||||||||||
The components of intangible assets subject to amortization were as follows: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net Book | Gross | Accumulated | Net Book | ||||||||||||||||||||
Carrying | Amortization | Value | Carrying | Amortization | Value | ||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||
Developed technologies | $ | 20,371 | $ | (19,830 | ) | $ | 541 | $ | 20,371 | $ | (18,904 | ) | $ | 1,467 | |||||||||||
Customer list | 88,015 | (7,967 | ) | 80,048 | 88,015 | (3,430 | ) | 84,585 | |||||||||||||||||
Manufacturer sales representative network | 17,115 | (1,769 | ) | 15,346 | 17,115 | (857 | ) | 16,258 | |||||||||||||||||
Patents, trademarks and trade name | 2,615 | (2,367 | ) | 248 | 2,535 | (2,028 | ) | 507 | |||||||||||||||||
Total | $ | 128,116 | $ | (31,933 | ) | $ | 96,183 | $ | 128,036 | $ | (25,219 | ) | $ | 102,817 | |||||||||||
Expected Future Annual Amortization Expense of Definite-Lived Intangible Assets | ' | ||||||||||||||||||||||||
The expected future annual amortization expense of definite-lived intangible assets for the next five fiscal years is as follows: | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2014 | $ | 6,154 | |||||||||||||||||||||||
2015 | 5,483 | ||||||||||||||||||||||||
2016 | 5,475 | ||||||||||||||||||||||||
2017 | 5,471 | ||||||||||||||||||||||||
2018 | 5,460 | ||||||||||||||||||||||||
Thereafter | 68,140 | ||||||||||||||||||||||||
Total | $ | 96,183 | |||||||||||||||||||||||
Restructuring_and_Impairment_T
Restructuring and Impairment (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||||||||||||||
Changes in Reserve for Restructuring Charges | ' | ||||||||||||||||||||||||||||
The following tables summarize changes in the reserve for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/12 | Charges | Payments | 12/31/13 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 3,758 | $ | 276 | $ | (436 | ) | $ | (160 | ) | $ | (2,011 | ) | $ | — | $ | 1,587 | ||||||||||||
Lease and other contractual commitments | 1,610 | 1,250 | (17 | ) | 1,233 | (1,650 | ) | 47 | (a) | 1,240 | |||||||||||||||||||
$ | 5,368 | $ | 1,526 | $ | (453 | ) | $ | 1,073 | $ | (3,661 | ) | $ | 47 | $ | 2,827 | ||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/11 | Charges | Payments | 12/31/12 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 190 | $ | 16,151 | $ | — | $ | 16,151 | $ | (12,583 | ) | $ | — | $ | 3,758 | ||||||||||||||
Lease and other contractual commitments | 952 | 1,622 | — | 1,622 | (1,050 | ) | 86 | (a) | 1,610 | ||||||||||||||||||||
Asset impairments | — | 1,684 | — | 1,684 | — | (1,684 | ) | — | |||||||||||||||||||||
$ | 1,142 | $ | 19,457 | $ | — | $ | 19,457 | $ | (13,633 | ) | $ | (1,598 | ) | $ | 5,368 | ||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
Reserve | Charges | Reversals | Net | Cash | Adjustments | Reserve | |||||||||||||||||||||||
12/31/10 | Charges | Payments | 12/31/11 | ||||||||||||||||||||||||||
Restructuring activities: | |||||||||||||||||||||||||||||
Personnel and severance | $ | 445 | $ | — | $ | (134 | ) | $ | (134 | ) | $ | (121 | ) | $ | — | $ | 190 | ||||||||||||
Lease and other contractual commitments | 1,277 | 946 | — | 946 | (1,302 | ) | 31 | (a) | 952 | ||||||||||||||||||||
$ | 1,722 | $ | 946 | $ | (134 | ) | $ | 812 | $ | (1,423 | ) | $ | 31 | $ | 1,142 | ||||||||||||||
(a) | Represents accretion of interest on discounted restructuring liabilities. | ||||||||||||||||||||||||||||
Expected Cash Payouts of Restructuring Accrued Expenses | ' | ||||||||||||||||||||||||||||
plans are executed. Expected cash payout of the accrued expenses is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2014 | $ | 1,632 | |||||||||||||||||||||||||||
2015 | 100 | ||||||||||||||||||||||||||||
2016 | 104 | ||||||||||||||||||||||||||||
2017 | 108 | ||||||||||||||||||||||||||||
2018 | 104 | ||||||||||||||||||||||||||||
Thereafter | 1,275 | ||||||||||||||||||||||||||||
Total | 3,323 | ||||||||||||||||||||||||||||
Less: Amounts representing interest | (496 | ) | |||||||||||||||||||||||||||
Restructuring liability | $ | 2,827 | |||||||||||||||||||||||||||
Accrued_and_Other_Liabilities_
Accrued and Other Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Composition of Accrued and Other Liabilities | ' | ||||||||
The composition of accrued and other liabilities at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Accrued payroll and related costs | $ | 36,547 | $ | 37,861 | |||||
Accrued interest | 7,302 | 7,382 | |||||||
Accrued warranty | 8,539 | 9,211 | |||||||
Accrued other | 32,621 | 34,023 | |||||||
Total | $ | 85,009 | $ | 88,477 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Composition of Long-Term Debt | ' | ||||||||
The composition of long-term debt at December 31, is as follows: | |||||||||
2013 | 2012 | ||||||||
Senior Secured Notes due 2019 | $ | 550,000 | $ | 550,000 | |||||
Senior Secured 2010 Credit Facility | — | — | |||||||
North America Mortgage loans | 12,259 | 14,125 | |||||||
Zhongshan 2010 Credit Facility | 10,000 | 10,000 | |||||||
Capital leases | 636 | 676 | |||||||
Senior Subordinated Convertible Notes due 2013 | — | 895 | |||||||
572,895 | 575,696 | ||||||||
Less: Current maturities | (11,387 | ) | (12,250 | ) | |||||
$ | 561,508 | $ | 563,446 | ||||||
Schedule of Principal Payments of Long-Term Debt | ' | ||||||||
The schedule of principal payments for long-term debt at December 31, 2013, is as follows: | |||||||||
Year Ended December 31, | |||||||||
2014 | $ | 11,386 | |||||||
2015 | 1,129 | ||||||||
2016 | 765 | ||||||||
2017 | 795 | ||||||||
2018 | 826 | ||||||||
Thereafter | 557,994 | ||||||||
Total | $ | 572,895 | |||||||
Commitments_Tables
Commitments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Future Minimum Lease Payments Under Capital Leases and Operating Leases | ' | ||||||||
Future minimum lease payments under capital leases and operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2013, are as follows: | |||||||||
Year Ended December 31, | Capital | Operating | |||||||
2014 | $ | 131 | $ | 10,056 | |||||
2015 | 131 | 8,256 | |||||||
2016 | 131 | 6,498 | |||||||
2017 | 131 | 5,433 | |||||||
2018 | 131 | 4,204 | |||||||
Thereafter | 262 | 11,637 | |||||||
Total | 917 | $ | 46,084 | ||||||
Less: Amounts representing interest | (281 | ) | |||||||
Capital lease obligations | $ | 636 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Components of Income Tax Provision | ' | ||||||||||||
The Company’s income tax provision for the years ended December 31, 2013, 2012 and 2011, consists of the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | (196 | ) | (408 | ) | 272 | ||||||||
Foreign | 12,180 | 12,491 | 9,934 | ||||||||||
11,984 | 12,083 | 10,206 | |||||||||||
Deferred: | |||||||||||||
Federal | — | 3,407 | (1,764 | ) | |||||||||
State | — | 292 | (292 | ) | |||||||||
Foreign | (889 | ) | (2,989 | ) | 314 | ||||||||
(889 | ) | 710 | (1,742 | ) | |||||||||
Total | $ | 11,095 | $ | 12,793 | $ | 8,464 | |||||||
Reconciliation of Income Tax Provision at Federal Statutory Income Tax Rate and Effective Tax Rate | ' | ||||||||||||
A reconciliation between the income tax provision at the federal statutory income tax rate and at the effective tax rate, for the years ended December 31, 2013, 2012 and 2011, is summarized below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. Federal Statutory Rate | $ | (5,780 | ) | $ | (17,299 | ) | $ | 13,562 | |||||
State taxes, net of federal benefit | 1 | (106 | ) | 337 | |||||||||
Permanent items | 3,709 | 3,726 | (2,679 | ) | |||||||||
Foreign tax (under) U.S. Statutory rate | (4,574 | ) | (1,993 | ) | (5,431 | ) | |||||||
Current year valuation allowance for deferred tax assets | 16,117 | 26,416 | (916 | ) | |||||||||
Uncertain tax positions | 2,099 | (87 | ) | (2,785 | ) | ||||||||
Foreign tax rate changes and withholdings | 611 | 440 | 5,865 | ||||||||||
Other | (1,088 | ) | 1,696 | 511 | |||||||||
$ | 11,095 | $ | 12,793 | $ | 8,464 | ||||||||
Deferred Tax Assets and Liabilities | ' | ||||||||||||
The tax effects of significant temporary differences representing deferred tax assets and liabilities at December 31, 2013 and 2012, are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 378,143 | $ | 370,340 | |||||||||
Capital loss carryforwards | 103,583 | 111,550 | |||||||||||
Federal and State credit carryforwards | 25,633 | 25,335 | |||||||||||
Accrued liabilities not yet deductible | 9,989 | 14,128 | |||||||||||
Equity compensation | 11,824 | 13,116 | |||||||||||
Other | 1,119 | 878 | |||||||||||
530,291 | 535,347 | ||||||||||||
Valuation allowance | (481,019 | ) | (479,921 | ) | |||||||||
49,272 | 55,426 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (1,530 | ) | (7,298 | ) | |||||||||
Inventory | (4,348 | ) | (2,878 | ) | |||||||||
Intangibles | (35,641 | ) | (38,844 | ) | |||||||||
Other | (515 | ) | (84 | ) | |||||||||
(42,034 | ) | (49,104 | ) | ||||||||||
Net deferred tax assets | $ | 7,238 | $ | 6,322 | |||||||||
Domestic and Foreign Income (Loss) Before Income Tax Provision | ' | ||||||||||||
The domestic and foreign income (loss) before income tax provision are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Domestic | $ | (69,938 | ) | $ | (50,723 | ) | $ | 2,393 | |||||
Foreign | 53,423 | 1,298 | 36,355 | ||||||||||
$ | (16,515 | ) | $ | (49,425 | ) | $ | 38,748 | ||||||
Reconciliation of Total Gross Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the Company’s total gross unrecognized tax benefits, exclusive of related interest and penalties, for the years ended December 31, 2013, 2012 and 2011, is summarized below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance, beginning of year | $ | 14,865 | $ | 15,664 | $ | 19,009 | |||||||
Tax positions related to current year: | |||||||||||||
Additions | 321 | 181 | 839 | ||||||||||
Reductions | — | — | — | ||||||||||
Tax positions related to prior years: | |||||||||||||
Additions | — | — | — | ||||||||||
Reductions | — | — | — | ||||||||||
Tax positions acquired from DDi | — | 787 | — | ||||||||||
Settlements | (19 | ) | (16 | ) | — | ||||||||
Lapses in statutes of limitations | (397 | ) | (1,751 | ) | (4,184 | ) | |||||||
Balance, end of year | $ | 14,770 | $ | 14,865 | $ | 15,664 | |||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||
Outstanding Derivative Contracts | ' | ||||||||||||||
The following table summarizes the Company’s outstanding derivative contracts: | |||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||
Notional amount in thousands of Chinese RMB | 479,096 | 1,200,000 | |||||||||||||
Weighted average remaining maturity in months | 6.4 | 6.1 | |||||||||||||
Weighted average exchange rate per one U.S. Dollar | 6.18 | 6.36 | |||||||||||||
Fair Vale of Financial Asset (Liability) Positions Measured on a Recurring Basis | ' | ||||||||||||||
The following table sets forth, as of December 31, 2013 and 2012, the hierarchy of the Company’s financial asset (liability) positions for which fair value is measured on a recurring basis: | |||||||||||||||
December 31, 2013 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Available – for – sale investments in Savings Restoration Plan | $ | 1,077 | — | — | Prepaid expense and other | ||||||||||
Savings Restoration Plan liability | (1,143 | ) | — | — | Accrued and other liabilities | ||||||||||
Cash flow hedges – deferred gains contracts | — | 1,189 | — | Prepaid expense and other | |||||||||||
$ | (66 | ) | $ | 1,189 | $ | — | |||||||||
December 31, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Available – for – sale investments in Savings Restoration Plan | $ | 411 | — | — | Prepaid expense and other | ||||||||||
Savings Restoration Plan liability | (471 | ) | — | — | Accrued and other liabilities | ||||||||||
Cash flow hedges – deferred gains contracts | — | 1,340 | — | Prepaid expense and other | |||||||||||
$ | (60 | ) | $ | 1,340 | $ | — | |||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Balance Sheet Classification | ||||||||||||
Cash flow hedges – deferred gain contracts | $ | — | 1,742 | — | Prepaid expense and other | ||||||||||
Cash flow hedges – deferred loss contracts | — | (779 | ) | — | Accrued and other liabilities | ||||||||||
$ | — | $ | 963 | $ | — | ||||||||||
Estimated Fair Value of Debt Instruments | ' | ||||||||||||||
The estimated fair values of the Company’s debt instruments as of December 31, 2013 and 2012, are as follows: | |||||||||||||||
December 31, 2013 | |||||||||||||||
Fair | Carrying | Balance Sheet Classification | |||||||||||||
Value | Amount | ||||||||||||||
Senior Secured Notes due 2019 | $ | 595,034 | $ | 550,000 | Long-term debt, less current maturities | ||||||||||
Senior Secured 2010 Credit Facility | — | — | |||||||||||||
North America Mortgage Loans | 11,710 | 12,259 | 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 | — | — | |||||||||||||
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 |
Equity_Incentive_Plans_Tables
Equity Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||
Stock compensation expense recognized in the consolidated statements of operations was as follows: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Cost of goods sold | $ | 684 | $ | 640 | $ | 506 | |||||||||||||||||||
Selling, general and administrative | 8,730 | 9,923 | 7,191 | ||||||||||||||||||||||
$ | 9,414 | $ | 10,563 | $ | 7,697 | ||||||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||||||||||
The following table summarizes the stock option activity under both the 2003 Plan and the 2010 Plan for the year ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Options | Exercise | Options | Exercise | Options | Exercise | ||||||||||||||||||||
Price(1) | Price(1) | Price(1) | |||||||||||||||||||||||
Beginning balance | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | 1,194,640 | $ | 43.13 | ||||||||||||||||
Granted | 22,500 | 13.47 | 406,962 | 17.7 | 542,784 | 20.44 | |||||||||||||||||||
Exercised | — | — | — | — | (833 | ) | 21.88 | ||||||||||||||||||
Forfeited | (182,386 | ) | 102.43 | (54,764 | ) | 54.16 | (59,779 | ) | 37.51 | ||||||||||||||||
Ending balance | 1,869,124 | $ | 24.73 | 2,029,010 | $ | 31.84 | 1,676,812 | $ | 36 | ||||||||||||||||
Exercisable at year end | 1,697,339 | $ | 25.5 | 1,377,982 | $ | 37.97 | 753,165 | $ | 54.47 | ||||||||||||||||
-1 | weighted average | ||||||||||||||||||||||||
Black-Scholes Option-Pricing Model | ' | ||||||||||||||||||||||||
The fair value of each option grant during the years ended December 31, 2013, 2012 and 2011 was estimated on the date of the grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Expected life of options | 4.3 years | 4.3 years | 4.3 years | ||||||||||||||||||||||
Risk free interest rate | 0.75% to 0.88% | 0.63% to 0.85% | 0.91% to 2.39% | ||||||||||||||||||||||
Expected volatility of stock | 54.66% to 54.94% | 62.12% to 67.05% | 60.72% to 62.73% | ||||||||||||||||||||||
Expected dividend yield | None | None | None | ||||||||||||||||||||||
Weighted average fair value | $5.95 | $8.86 | $10.22 | ||||||||||||||||||||||
Outstanding Stock Options | ' | ||||||||||||||||||||||||
The following table summarizes information regarding outstanding stock options under these plans as of December 31, 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 | 435,898 | 5.13 years | $ | 17.21 | 271,574 | 4.96 years | $ | 17.42 | |||||||||||||||||
$ 20.38 to $21.04 | 493,197 | 4.01 years | 20.41 | 489,696 | 4.00 years | 20.4 | |||||||||||||||||||
$ 21.88 to $24.00 | 877,510 | 3.27 years | 21.89 | 873,550 | 3.26 years | 21.89 | |||||||||||||||||||
$150.99 | 62,519 | 2.09 years | 150.99 | 62,519 | 2.09 years | 150.99 | |||||||||||||||||||
1,869,124 | 3.86 years | $ | 24.73 | 1,697,339 | 3.71 years | $ | 25.5 | ||||||||||||||||||
Restricted Stock Award | ' | ||||||||||||||||||||||||
The following table summarizes restricted stock award activity for the year ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant Date | Grant Date | Grant Date | |||||||||||||||||||||||
Per Share | Per Share | Per Share | |||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||||||
Nonvested, beginning of year | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | 257,932 | $ | 16.6 | ||||||||||||||||
Granted | 203,089 | 13.5 | 240,825 | 19.02 | 154,519 | 20.41 | |||||||||||||||||||
Vested | (244,973 | ) | 16.61 | (10,406 | ) | 18.13 | (3,428 | ) | 16.62 | ||||||||||||||||
Forfeited | (11,509 | ) | 16.96 | (6,579 | ) | 19.85 | (3,428 | ) | 16.62 | ||||||||||||||||
Nonvested, end of year | 576,042 | $ | 17.47 | 629,435 | $ | 18.4 | 405,595 | $ | 18.05 | ||||||||||||||||
Performance Share Unit | ' | ||||||||||||||||||||||||
The following table summarizes performance share unit activity for the years ended December 31: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Share Units | Weighted | Share Units | 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 | (8,966 | ) | 17.04 | — | — | ||||||||||||||||||||
Nonvested, at end of year | 558,113 | $ | 17.02 | 139,343 | $ | 18.42 | |||||||||||||||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Total Assets by Segment | ' | ||||||||||||
Total assets by segment are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Total assets: | |||||||||||||
Printed Circuit Boards | $ | 975,570 | $ | 955,618 | |||||||||
Assembly | 99,857 | 87,280 | |||||||||||
Other | 42,990 | 63,283 | |||||||||||
Total assets | $ | 1,118,417 | $ | 1,106,181 | |||||||||
Net Sales and Operating Income (Loss) by Segment, together with Reconciliation to (loss) Income Before Income Taxes | ' | ||||||||||||
Net sales and operating income (loss) by segment, together with reconciliation to (loss) income before income taxes, are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales to external customers: | |||||||||||||
Printed Circuit Boards | $ | 996,528 | $ | 959,793 | $ | 856,319 | |||||||
Assembly | 174,518 | 200,113 | 200,998 | ||||||||||
Total | $ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | |||||||
Intersegment sales: | |||||||||||||
Printed Circuit Boards | $ | 11,581 | $ | 7,379 | $ | 9,628 | |||||||
Assembly | — | — | — | ||||||||||
Total | $ | 11,581 | $ | 7,379 | $ | 9,628 | |||||||
Operating income (loss): | |||||||||||||
Printed Circuit Boards | $ | 25,255 | $ | 27,357 | $ | 65,550 | |||||||
Assembly | 565 | 1,639 | 6,656 | ||||||||||
Other | (623 | ) | (9,727 | ) | (1,335 | ) | |||||||
Total | 25,197 | 19,269 | 70,871 | ||||||||||
Interest expense, net | 44,797 | 42,156 | 28,906 | ||||||||||
Amortization of deferred financing costs | 2,898 | 2,723 | 2,015 | ||||||||||
Loss on early extinguishment of debt | — | 24,234 | — | ||||||||||
Other, net | (5,983 | ) | (419 | ) | 1,202 | ||||||||
(Loss) income before income taxes | $ | (16,515 | ) | $ | (49,425 | ) | $ | 38,748 | |||||
Capital Expenditures and Depreciation Expense by Segment | ' | ||||||||||||
Capital expenditures and depreciation expense by segment are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Capital expenditures: | |||||||||||||
Printed Circuit Boards | $ | 100,881 | $ | 102,058 | $ | 93,387 | |||||||
Assembly | 6,653 | 5,952 | 7,639 | ||||||||||
Other | 987 | 711 | 638 | ||||||||||
Total capital expenditures | $ | 108,521 | $ | 108,721 | $ | 101,664 | |||||||
Depreciation expense: | |||||||||||||
Printed Circuit Boards | $ | 83,554 | $ | 75,506 | $ | 61,995 | |||||||
Assembly | 4,506 | 4,513 | 3,943 | ||||||||||
Total depreciation expense | $ | 88,060 | $ | 80,019 | $ | 65,938 | |||||||
Net Sales by Country of Designation | ' | ||||||||||||
Net sales by country of destination are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 526,744 | $ | 465,798 | $ | 384,594 | |||||||
People’s Republic of China, including Hong Kong | 234,072 | 244,290 | 247,321 | ||||||||||
Germany | 46,237 | 55,305 | 63,955 | ||||||||||
Canada | 43,874 | 40,070 | 27,312 | ||||||||||
Malaysia | 43,651 | 44,474 | 30,633 | ||||||||||
Hungary | 42,374 | 43,141 | 44,288 | ||||||||||
Netherlands | 27,169 | 27,084 | 9,143 | ||||||||||
France | 22,316 | 27,733 | 43,066 | ||||||||||
India | 21,662 | 28,905 | 29,032 | ||||||||||
Singapore | 19,915 | 16,366 | 14,560 | ||||||||||
Mexico | 14,026 | 8,248 | 11,820 | ||||||||||
Sweden | 13,969 | 7,877 | 4,624 | ||||||||||
Brazil | 13,508 | 14,632 | 4,913 | ||||||||||
Thailand | 12,959 | 12,873 | 11,290 | ||||||||||
Israel | 12,326 | 15,651 | 10,552 | ||||||||||
United Kingdom | 12,052 | 19,542 | 20,876 | ||||||||||
Portugal | 9,555 | 15,223 | 12,888 | ||||||||||
Czech Republic | 9,026 | 13,585 | 15,991 | ||||||||||
Other | 45,611 | 59,109 | 70,459 | ||||||||||
Total | $ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | |||||||
Components of Net Sales by Country of Manufacture | ' | ||||||||||||
Net sales by country of manufacture are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
People’s Republic of China | $ | 758,425 | $ | 829,593 | $ | 877,987 | |||||||
United States | 282,036 | 246,959 | 142,675 | ||||||||||
Canada | 75,106 | 41,881 | — | ||||||||||
Mexico | 55,479 | 41,473 | 36,655 | ||||||||||
$ | 1,171,046 | $ | 1,159,906 | $ | 1,057,317 | ||||||||
Components of Property, Plant and Equipment | ' | ||||||||||||
Property, plant and equipment, net by country are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
People’s Republic of China, including Hong Kong | $ | 302,563 | $ | 284,690 | |||||||||
United States | 104,647 | 104,192 | |||||||||||
Canada | 30,448 | 30,951 | |||||||||||
Mexico | 8,830 | 8,135 | |||||||||||
$ | 446,488 | $ | 427,968 | ||||||||||
Accumulated_Other_Compensation1
Accumulated Other Compensation Income (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Summary of Changes in Accumulated Other Comprehensive Income, by Component | ' | ||||||||||||
Changes in accumulated other comprehensive income, by component, for the years ended December 31, 2013, 2012, and 2011, were as follows: | |||||||||||||
Cash Flow | Foreign | Total | |||||||||||
Hedges | Currency | ||||||||||||
(see Note13) | Translation | ||||||||||||
Accumulated other comprehensive income at December 31, 2010 | $ | 20 | $ | 7,676 | $ | 7,696 | |||||||
Other comprehensive income, net of tax and before reclassifications | 3,946 | — | 3,946 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (3,439 | ) | (148 | ) | (3,587 | ) | |||||||
Other comprehensive (loss) income, net of tax | 507 | (148 | ) | 359 | |||||||||
Accumulated other comprehensive income at December 31, 2011 | $ | 527 | $ | 7,528 | $ | 8,055 | |||||||
Other comprehensive income, net of tax and before reclassifications | 3,160 | — | 3,160 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (2,347 | ) | — | (2,347 | ) | ||||||||
Other comprehensive income, net of tax | 813 | — | 813 | ||||||||||
Accumulated other comprehensive income at December 31, 2012 | $ | 1,340 | $ | 7,528 | $ | 8,868 | |||||||
Other comprehensive income, net of tax and before reclassifications | 5,377 | — | 5,377 | ||||||||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (5,784 | ) | — | (5,784 | ) | ||||||||
Other comprehensive loss, net of tax | (407 | ) | — | (407 | ) | ||||||||
Accumulated other comprehensive income at December 31, 2013 | $ | 933 | $ | 7,528 | $ | 8,461 | |||||||
Other comprehensive income (loss) for the years ended December 31, 2013, 2012 and 2011, was net of tax of $256, $0 and $436, respectively. |
Summary_of_Interim_Financial_I1
Summary of Interim Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial Data | ' | ||||||||||||||||||||
Quarterly financial data for the years ended December 31, 2013 and 2012 is presented below: | |||||||||||||||||||||
Quarter | |||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
2013:00:00 | |||||||||||||||||||||
Net sales | $ | 272,940 | $ | 285,553 | $ | 309,172 | $ | 303,381 | $ | 1,171,046 | |||||||||||
Cost of goods sold | 219,058 | 232,448 | 253,737 | 244,253 | 949,496 | ||||||||||||||||
Selling, general and administrative | 27,693 | 25,001 | 25,192 | 22,619 | 100,505 | ||||||||||||||||
Depreciation and amortization | 23,636 | 23,556 | 23,537 | 24,046 | 94,775 | ||||||||||||||||
Restructuring and impairment | — | — | 347 | 726 | 1,073 | ||||||||||||||||
Operating income | 2,553 | 4,548 | 6,359 | 11,737 | 25,197 | ||||||||||||||||
Net (loss) income | (13,282 | ) | (10,268 | ) | (9,032 | ) | 4,972 | (27,610 | ) | ||||||||||||
Noncontrolling interest | 173 | 101 | 121 | 215 | 610 | ||||||||||||||||
Net (loss) income attributable to common stockholders | (13,455 | ) | (10,369 | ) | (9,153 | ) | 4,757 | (28,220 | ) | ||||||||||||
Basic earnings per share | $ | (0.67 | ) | $ | (0.52 | ) | $ | (0.45 | ) | $ | 0.24 | $ | (1.40 | ) | |||||||
Diluted earnings per share | $ | (0.67 | ) | $ | (0.52 | ) | $ | (0.45 | ) | $ | 0.23 | $ | (1.40 | ) | |||||||
Basic weighted average shares outstanding | 19,994,820 | 20,010,029 | 20,171,083 | 20,179,174 | 20,089,507 | ||||||||||||||||
Diluted weighted average shares outstanding | 19,994,820 | 20,010,029 | 20,171,083 | 20,464,264 | 20,089,507 | ||||||||||||||||
2012:00:00 | |||||||||||||||||||||
Net sales | $ | 262,089 | $ | 296,861 | $ | 327,352 | $ | 273,604 | $ | 1,159,906 | |||||||||||
Cost of goods sold | 211,057 | 235,556 | 261,953 | 218,588 | 927,154 | ||||||||||||||||
Selling, general and administrative | 21,492 | 31,228 | 27,635 | 29,105 | 109,460 | ||||||||||||||||
Depreciation and amortization | 17,394 | 19,381 | 23,925 | 23,866 | 84,566 | ||||||||||||||||
Restructuring and impairment | 6,987 | 1,958 | 9,480 | 1,032 | 19,457 | ||||||||||||||||
Operating income | 5,159 | 8,738 | 4,359 | 1,013 | 19,269 | ||||||||||||||||
Net (loss) income | (5,137 | ) | (33,038 | ) | (9,545 | ) | (14,498 | ) | (62,218 | ) | |||||||||||
Noncontrolling interest | (495 | ) | 271 | 243 | 70 | 89 | |||||||||||||||
Net (loss) income attributable to common stockholders | (4,642 | ) | (33,309 | ) | (9,788 | ) | (14,568 | ) | (62,307 | ) | |||||||||||
Basic earnings per share | $ | (0.23 | ) | $ | (1.67 | ) | $ | (0.49 | ) | $ | (0.73 | ) | $ | (3.12 | ) | ||||||
Diluted earnings per share | $ | (0.23 | ) | $ | (1.67 | ) | $ | (0.49 | ) | $ | (0.73 | ) | $ | (3.12 | ) | ||||||
Basic weighted average shares outstanding | 19,984,414 | 19,990,628 | 19,994,820 | 19,994,820 | 19,991,190 | ||||||||||||||||
Diluted weighted average shares outstanding | 19,984,414 | 19,990,628 | 19,994,820 | 19,994,820 | 19,991,190 | ||||||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | 31-May-12 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Huizhou [Member] | Huizhou [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | Unvested Restricted Stock [Member] | Unvested Restricted Stock [Member] | Performance Shares [Member] | Performance Shares [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of highly liquid investments | 'Three months or less | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Translation Adjustments | ' | ' | $148 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of service revenue included in manufacturing process | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options to purchase shares of common stock | ' | ' | ' | ' | ' | 1,869,124 | 2,029,010 | 1,644,812 | 6,593 | 6,593 | 576,042 | 629,435 | 971,518 | 278,686 |
Noncontrolling interest holder retained an ownership | ' | ' | ' | 5.00% | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest purchased during period | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company's ownership | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research, development and engineering expenditures | $4,304 | $3,615 | $2,517 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Property, Plant and Equipment, Estimated Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Land and Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '20 years |
Minimum [Member] | Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '3 years |
Minimum [Member] | Machinery, Equipment, Systems and Other [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '3 years |
Maximum [Member] | Land and Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '50 years |
Maximum [Member] | Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '15 years |
Maximum [Member] | Machinery, Equipment, Systems and Other [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life of asset | '10 years |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Identifiable Intangible Assets Acquired, Estimated Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Patents, Trademarks and Trade Name [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Method of amortization identifiable intangible asset | 'Straight-line |
Patents, Trademarks and Trade Name [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '2 years |
Patents, Trademarks and Trade Name [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '5 years |
Customer Lists [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Method of amortization identifiable intangible asset | 'Straight-line |
Customer Lists [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '12 years |
Customer Lists [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '20 years |
Manufacturer Sales Representative Network [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Method of amortization identifiable intangible asset | 'Straight-line |
Manufacturer Sales Representative Network [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '12 years |
Manufacturer Sales Representative Network [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '20 years |
Developed Technologies [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated useful life of identifiable intangible asset | '15 years |
Method of amortization identifiable intangible asset | 'Double-declining balance |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Summary of Changes in Accrued Warranty Reserves (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Assets [Abstract] | ' | ' |
Balance, beginning of year | $9,211 | $5,999 |
Provision | 8,501 | 6,540 |
Acquired from DDi | ' | 3,817 |
Claims and adjustments | -9,173 | -7,145 |
Balance, end of year | $8,539 | $9,211 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies - Components Used in Computation of Basic and Diluted Earnings (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to common stockholders | $4,757 | ($9,153) | ($10,369) | ($13,455) | ($14,568) | ($9,788) | ($33,309) | ($4,642) | ($28,220) | ($62,307) | $28,493 |
Basic weighted average shares outstanding | 20,179,174 | 20,171,083 | 20,010,029 | 19,994,820 | 19,994,820 | 19,994,820 | 19,990,628 | 19,984,414 | 20,089,507 | 19,991,190 | 19,981,022 |
Dilutive weighted average shares outstanding | 20,464,264 | 20,171,083 | 20,010,029 | 19,994,820 | 19,994,820 | 19,994,820 | 19,990,628 | 19,984,414 | 20,089,507 | 19,991,190 | 20,129,787 |
Basic (loss) earnings per share | $0.24 | ($0.45) | ($0.52) | ($0.67) | ($0.73) | ($0.49) | ($1.67) | ($0.23) | ($1.40) | ($3.12) | $1.43 |
Diluted (loss) earnings per share | $0.23 | ($0.45) | ($0.52) | ($0.67) | ($0.73) | ($0.49) | ($1.67) | ($0.23) | ($1.40) | ($3.12) | $1.42 |
Stock Options [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,630,000 |
Restricted Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,135,000 |
Performance Shares [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dilutive effect | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The_DDi_Acquisition_Unaudited_
The DDi Acquisition - Unaudited Pro Forma Results of Operations (Detail) (DDi Acquisition [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2012 |
DDi Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Net sales | $1,272,908 |
Net (loss) income | ($22,909) |
The_DDi_Acquisition_Additional
The DDi Acquisition - Additional Information (Detail) (DDi Acquisition [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2012 |
DDi Acquisition [Member] | ' |
Business Acquisition [Line Items] | ' |
Net income, acquisition-related costs | $17,789 |
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 |
Accounts_Receivable_and_Concen2
Accounts Receivable and Concentration of Credit Risk - Allowance for Doubtful Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Receivables [Abstract] | ' | ' | ' |
Balance, beginning of year | $2,680 | $2,770 | $2,280 |
Provision | 1,660 | 2,066 | 2,499 |
Write-offs, credits and adjustments | -693 | -2,156 | -2,009 |
Balance, end of year | $3,647 | $2,680 | $2,770 |
Accounts_Receivable_and_Concen3
Accounts Receivable and Concentration of Credit Risk - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Customer | Customer | Customer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Percentage of revenue from one major customer | 40.60% | 49.00% | 58.80% |
Number of company's largest customers | 10 | 10 | 10 |
Sales Revenue Net [Member] | Robert Bosch GmbH [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Percentage of revenue from one major customer | 12.60% | 13.90% | 14.50% |
Overall percentage of sales by one major customer | 10.00% | ' | ' |
Inventories_Inventories_Detail
Inventories - Inventories (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $42,538 | $42,149 |
Work in process | 35,504 | 34,136 |
Finished goods | 44,140 | 34,744 |
Total | $122,182 | $111,029 |
Property_Plant_and_Equipment_C
Property, Plant and Equipment - Composition of Property, Plant and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Machinery, equipment and systems | $638,348 | $718,321 |
Leasehold improvements | 91,662 | 84,197 |
Construction in progress | 26,874 | 24,848 |
Property, plant and equipment, Gross | 914,129 | 953,508 |
Less: Accumulated depreciation | -467,641 | -525,540 |
Total | 446,488 | 427,968 |
Land and Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, Gross | $157,245 | $126,142 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Goodwill | $151,283 | $151,283 |
Printed Circuit Boards [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Goodwill | $151,283 | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Components of Intangible Assets Subject to Amortization (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $128,116 | $128,036 |
Accumulated Amortization | -31,933 | -25,219 |
Net Book Value | 96,183 | 102,817 |
Developed Technologies [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 20,371 | 20,371 |
Accumulated Amortization | -19,830 | -18,904 |
Net Book Value | 541 | 1,467 |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 88,015 | 88,015 |
Accumulated Amortization | -7,967 | -3,430 |
Net Book Value | 80,048 | 84,585 |
Manufacturer Sales Representative Network [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 17,115 | 17,115 |
Accumulated Amortization | -1,769 | -857 |
Net Book Value | 15,346 | 16,258 |
Patents, Trademarks and Trade Name [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,615 | 2,535 |
Accumulated Amortization | -2,367 | -2,028 |
Net Book Value | $248 | $507 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Expected Future Annual Amortization Expense of Definite-Lived Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $6,154 | ' |
2015 | 5,483 | ' |
2016 | 5,475 | ' |
2017 | 5,471 | ' |
2018 | 5,460 | ' |
Thereafter | 68,140 | ' |
Net Book Value | $96,183 | $102,817 |
Restructuring_and_Impairment_A
Restructuring and Impairment - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 05, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Assembly [Member] | Assembly [Member] | Assembly [Member] | Other [Member] | Other [Member] | Printed Circuit Boards [Member] | Printed Circuit Boards [Member] | Other [Member] | General Cost Savings [Member] | General Cost Savings [Member] | General Cost Savings [Member] | Huizhou Facility [Member] | Huizhou Facility [Member] | Huizhou Facility [Member] | Plant Shutdowns and Downsizings [Member] | China PCB Facility [Member] | China PCB Facility [Member] | China PCB Facility [Member] | China PCB Facility [Member] | Anaheim California [Member] | China PCB Factory Guangzhou [Member] | North America Manufacturing Facility [Member] | DDi Acquisition [Member] | |||||||||||
Assembly [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 | $2,827 | ' | $5,368 | ' | ' | ' | $2,827 | $5,368 | $1,142 | $1,722 | ' | ' | ' | ' | ' | ' | ' | ' | $1,224 | ' | ' | $261 | ' | ' | $1,342 | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | 726 | 347 | 1,032 | 9,480 | 1,958 | 6,987 | 1,073 | 19,457 | 812 | ' | 183 | 801 | ' | 251 | ' | 818 | 18,405 | 72 | ' | ' | 5,923 | 334 | 334 | 10,662 | ' | ' | ' | ' | 994 | 741 | 102 | 77 | 826 |
Expected restructuring costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' |
Restructuring charges (reversed) | ' | ' | ' | ' | ' | ' | ' | ' | 134 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -436 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of inventory destroyed in fire | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,692 | ' | ' | ' | ' | ' | ' | ' |
Carrying value of property destroyed in fire | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,988 | ' | ' | ' | ' | ' | ' | ' |
Initial payment received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,631 | ' | ' | ' | ' | ' | ' |
Impairment charge | ' | ' | ' | ' | ' | ' | ' | 747 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 937 | ' | ' | ' | ' | ' |
Clean-up costs from fire damage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102 | 57 | ' | ' | ' | ' | ' |
Restructuring costs | ' | ' | ' | ' | ' | ' | 1,073 | 19,457 | 812 | ' | ' | ' | 535 | ' | ' | ' | ' | ' | ' | 142 | 5,923 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract termination fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $411 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring_and_Impairment_C
Restructuring and Impairment - Changes in Reserve for Restructuring Charges (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Reserve | $5,368 | $1,142 | $1,722 |
Charges | 1,526 | 19,457 | 946 |
Reversal | -453 | ' | -134 |
Net Charges | 1,073 | 19,457 | 812 |
Cash Payments | -3,661 | -13,633 | -1,423 |
Adjustments | 47 | -1,598 | 31 |
Reserve | 2,827 | 5,368 | 1,142 |
Personnel and Severance [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Reserve | 3,758 | 190 | 445 |
Charges | 276 | 16,151 | ' |
Reversal | -436 | ' | -134 |
Net Charges | -160 | 16,151 | -134 |
Cash Payments | -2,011 | -12,583 | -121 |
Adjustments | ' | ' | ' |
Reserve | 1,587 | 3,758 | 190 |
Lease and Other Contractual Commitments [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Reserve | 1,610 | 952 | 1,277 |
Charges | 1,250 | 1,622 | 946 |
Reversal | -17 | ' | ' |
Net Charges | 1,233 | 1,622 | 946 |
Cash Payments | -1,650 | -1,050 | -1,302 |
Adjustments | 47 | 86 | 31 |
Reserve | 1,240 | 1,610 | 952 |
Asset Impairments [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Reserve | ' | ' | ' |
Charges | ' | 1,684 | ' |
Reversal | ' | ' | ' |
Net Charges | ' | 1,684 | ' |
Cash Payments | ' | ' | ' |
Adjustments | ' | -1,684 | ' |
Reserve | ' | ' | ' |
Restructuring_and_Impairment_E
Restructuring and Impairment - Expected Cash Payout of Restructuring Accrued Expenses (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Restructuring And Related Activities [Abstract] | ' | ' | ' | ' |
2014 | $1,632 | ' | ' | ' |
2015 | 100 | ' | ' | ' |
2016 | 104 | ' | ' | ' |
2017 | 108 | ' | ' | ' |
2018 | 104 | ' | ' | ' |
Thereafter | 1,275 | ' | ' | ' |
Total | 3,323 | ' | ' | ' |
Less: Amounts representing interest | -496 | ' | ' | ' |
Restructuring liability | $2,827 | $5,368 | $1,142 | $1,722 |
Accrued_and_Other_Liabilities_1
Accrued and Other Liabilities - Composition of Accrued and Other Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Accrued payroll and related costs | $36,547 | $37,861 |
Accrued interest | 7,302 | 7,382 |
Accrued warranty | 8,539 | 9,211 |
Accrued other | 32,621 | 34,023 |
Total | $85,009 | $88,477 |
LongTerm_Debt_Composition_of_L
Long-Term Debt - Composition of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | $572,895 | $575,696 |
Less: Current maturities | -11,387 | -12,250 |
Long-term debt, less current maturities | 561,508 | 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 | ' | ' |
North America Mortgage Loans [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | 12,259 | 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 | 636 | 676 |
Senior Subordinated Convertible Notes Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, Gross | ' | $895 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Senior Subordinated Convertible Notes Due 2013 [Member] | Time Prior to May 1, 2015 [Member] | Time Between March 1, 2013 to May 1, 2015 [Member] | Senior Secured Notes Due 2019 [Member] | Senior Secured Notes Due 2019 [Member] | Senior Secured Notes Due 2019 [Member] | Senior Secured 2010 Credit Facility [Member] | Senior Secured 2010 Credit Facility [Member] | Senior Secured 2010 Credit Facility [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Toronto Mortgages [Member] | Infrastructure Loan [Member] | Cleveland Mortgage [Member] | Denver Mortgage [Member] | North Jackson Mortgage Facility [Member] | Anaheim Mortgage [Member] | Zhongshan 2010 Credit Facility [Member] | ||||
Make-Whole Premium [Member] | Minimum [Member] | Maximum [Member] | Facility | Canadian Dollar [Member] | U S Dollar [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||||
Canadian Dollar [Member] | U S Dollar [Member] | Canadian Dollar [Member] | U S Dollar [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facilities outstanding amount | $10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,000 |
Line of credit issued letters of credit | 1,501 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,501 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facilities unused and available | 101,769 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,768 |
Senior Secured Notes | ' | ' | ' | ' | ' | 550,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | 7.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.55% | ' | 4.33% | ' |
Financing fees Incurred | ' | ' | ' | ' | ' | 16,186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable principal amount | ' | ' | 192,500 | 55,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price | ' | ' | 107.88% | 103.00% | 100.00% | ' | ' | 105.91% | 103.94% | 101.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Present value of redemption rate | ' | ' | ' | ' | ' | ' | 105.91% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury rate, basis points | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued and unpaid interest | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured revolving credit facility in an aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured revolving credit facility maximum principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity of debt instrument | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29-Dec-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Base Rate loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Euro dollar Rate loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1.0 to 1.0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1.0 to 1.0 | '1.25 to 1.0 | ' |
Deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,529 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate for loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | 1.50% | ' | 3.40% |
Convertible senior subordinated notes with maturity date | ' | 15-May-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-28 | 31-Oct-15 | ' | ' | ' | ' | ' | ' | ' | 30-Nov-19 | 31-Jul-32 | 30-Apr-15 | 31-Mar-19 | ' |
Number of mortgage facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funds coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01 | ' | ' | 0.015 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt carrying amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,661 | ' | ' | ' | ' | ' | ' | ' | 787 | 1,401 | 987 | 277 | 5,147 | ' |
Variable rate interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.25% | 3.30% | ' | 3.25% | ' | 1.67% | ' | ' |
Fixed rate interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal and interest payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 38 | ' | ' | ' | ' | ' | ' | ' | 8 | 11 | 21 | 43 | ' |
Repayment of term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,446 | ' |
LongTerm_Debt_Schedule_of_Prin
Long-Term Debt - Schedule of Principal Payments of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $11,386 |
2015 | 1,129 |
2016 | 765 |
2017 | 795 |
2018 | 826 |
Thereafter | 557,994 |
Total | $572,895 |
Commitments_Additional_Informa
Commitments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Equipment held under capital leases | $12,007 | $12,007 | ' |
Accumulated depreciation related to equipment | 8,405 | 7,205 | ' |
Rental expense under operating leases | $10,320 | $7,571 | $5,321 |
Commitments_Future_Minimum_Lea
Commitments - Future Minimum Lease Payments Under Capital Leases and Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Capital lease obligations, 2014 | $131 |
Capital lease obligations, 2015 | 131 |
Capital lease obligations, 2016 | 131 |
Capital lease obligations, 2017 | 131 |
Capital lease obligations, 2018 | 131 |
Capital lease obligations, Thereafter | 262 |
Total | 917 |
Less: Amounts representing interest | -281 |
Capital lease obligations | 636 |
Operating lease obligations, 2014 | 10,056 |
Operating lease obligations, 2015 | 8,256 |
Operating lease obligations, 2016 | 6,498 |
Operating lease obligations, 2017 | 5,433 |
Operating lease obligations, 2018 | 4,204 |
Operating lease obligations, Thereafter | 11,637 |
Total | 46,084 |
Less: Amounts representing interest | ' |
Operating lease obligations | ' |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Other non-current liabilities, Indemnity potential claims accruals | $1,927 | $11,314 |
Other income from reversal of indemnification liability, net | 8,991 | ' |
Payment received from insurance towards settlement of business interruption claim | ' | $1,242 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Provision (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current income taxes, Federal | ' | ' | ' |
Current income taxes, State | -196 | -408 | 272 |
Current income taxes, Foreign | 12,180 | 12,491 | 9,934 |
Total current income taxes | 11,984 | 12,083 | 10,206 |
Deferred income taxes, Federal | ' | 3,407 | -1,764 |
Deferred income taxes, State | ' | 292 | -292 |
Deferred income taxes, Foreign | -889 | -2,989 | 314 |
Total deferred income taxes | -889 | 710 | -1,742 |
Total | $11,095 | $12,793 | $8,464 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Provision at Federal Statutory Income Tax Rate and Effective Tax Rate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. Federal Statutory Rate | ($5,780) | ($17,299) | $13,562 |
State taxes, net of federal benefit | 1 | -106 | 337 |
Permanent items | 3,709 | 3,726 | -2,679 |
Foreign tax (under) U.S. Statutory rate | -4,574 | -1,993 | -5,431 |
Current year valuation allowance for deferred tax assets | 16,117 | 26,416 | -916 |
Uncertain tax positions | 2,099 | -87 | -2,785 |
Foreign tax rate changes and withholdings | 611 | 440 | 5,865 |
Other | -1,088 | 1,696 | 511 |
Total | $11,095 | $12,793 | $8,464 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Net operating loss carryforwards | $378,143 | $370,340 |
Capital loss carryforwards | 103,583 | 111,550 |
Federal and State credit carryforwards | 25,633 | 25,335 |
Accrued liabilities not yet deductible | 9,989 | 14,128 |
Equity compensation | 11,824 | 13,116 |
Other | 1,119 | 878 |
Deferred tax assets Gross Total | 530,291 | 535,347 |
Valuation allowance | -481,019 | -479,921 |
Deferred tax assets Net Total | 49,272 | 55,426 |
Property, plant and equipment | -1,530 | -7,298 |
Inventory | -4,348 | -2,878 |
Intangibles | -35,641 | -38,844 |
Other | -515 | -84 |
Deferred tax liabilities Gross Total | -42,034 | -49,104 |
Net deferred tax assets | $7,238 | $6,322 |
Income_Taxes_Domestic_and_Fore
Income Taxes - Domestic and Foreign Income (Loss) Before Income Tax Provision (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income (loss) before income tax provision, Domestic | ($69,938) | ($50,723) | $2,393 |
Income (loss) before income tax provision, Foreign | 53,423 | 1,298 | 36,355 |
(Loss) income before income taxes | ($16,515) | ($49,425) | $38,748 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2003 |
United States [Member] | China [Member] | Canada [Member] | Hong Kong [Member] | Singapore [Member] | Netherlands [Member] | Minimum [Member] | ||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | $755,329 | $12,311 | $55,752 | $33,966 | $24 | $15,264 | ' |
Indefinite carryforward capital loss | 103,583 | 111,550 | ' | ' | ' | 385,069 | ' | ' | ' | ' |
Benefit from the utilization of NOL carryforwards | 5,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards expiration period, beginning period | ' | ' | ' | '2019 | ' | '2026 | ' | ' | '2014 | ' |
Net operating loss carryforwards expiration period, ending period | ' | ' | ' | '2033 | ' | '2033 | ' | ' | '2017 | ' |
Increase (decrease) of valuation allowance | 1,098 | 57,663 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of change in ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Utilization of the U.S. Net operating losses | 21,687 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annually-reviewed rate of reduction | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional income tax expenses | 217 | 594 | 1,832 | ' | ' | ' | ' | ' | ' | ' |
Additional income tax expense per basic and diluted share outstanding | $0.01 | $0.03 | $0.09 | ' | ' | ' | ' | ' | ' | ' |
Income tax rates ranging | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | 145,237 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign distribution taxes | 7,182 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term accrued taxes | 28,164 | 25,652 | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest and penalties on unrecognized tax benefits | 13,394 | 10,787 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties on unrecognized tax benefit | 2,607 | 1,638 | 1,111 | ' | ' | ' | ' | ' | ' | ' |
Liability for unrecognized tax benefits, decrease in period | 95 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reversal of uncertain tax positions | 397 | 1,751 | 4,184 | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits, tax positions would affect the effective tax rate | 28,164 | 25,652 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated liability for uncertain tax positions | $600 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Total Gross Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance, beginning of year | $14,865 | $15,664 | $19,009 |
Tax positions related to current year, Additions | 321 | 181 | 839 |
Tax positions related to current year, Reductions | ' | ' | ' |
Tax positions related to prior years, Additions | ' | ' | ' |
Tax positions related to prior years, Reductions | ' | ' | ' |
Tax positions acquired from DDi | ' | 787 | ' |
Settlements | -19 | -16 | ' |
Lapses in statutes of limitations | -397 | -1,751 | -4,184 |
Balance, end of year | $14,770 | $14,865 | $15,664 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments and Fair Value Measurements - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 01, 2014 | |
USD ($) | USD ($) | USD ($) | Subsequent Event [Member] | |
CNY | ||||
Derivative Instruments And Hedging Activities [Line Items] | ' | ' | ' | ' |
Deferred gains (losses) on derivatives | $933,000 | $1,340,000 | $527,000 | ' |
Deferred gains (losses) on derivatives, tax | 256,000 | 0 | 435,000 | ' |
Gain or loss forward contracts is recorded in cost of goods sold | 5,784,000 | 2,347,000 | 3,439,000 | ' |
Amount of derivative contracts to hedge | ' | ' | ' | 786,600,000 |
Weighted average exchange rate of one U.S. Dollars | 6.18 | 6.36 | ' | 6.05 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments and Fair Value Measurements - Outstanding Derivative Contracts (Detail) (CNY) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Notional amount in thousands of Chinese RMB | 479,096 | 1,200,000 |
Weighted average remaining maturity in months | '6 months 12 days | '6 months 3 days |
Weighted average exchange rate per one U.S. Dollar | 6.18 | 6.36 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments and Fair Value Measurements - Fair Value of Financial Asset (Liability) Positions Measured on a Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial asset (liability), net | ($66) | ($60) | ' |
Level 1 [Member] | Available-for-Sale Investments in Savings Restoration Plan [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | 1,077 | 411 | ' |
Level 1 [Member] | Savings Restoration Plan Liability [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | -1,143 | -471 | ' |
Level 1 [Member] | Cash Flow Hedges - Deferred Gains Contracts [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | ' | ' | ' |
Level 1 [Member] | Cash Flow Hedges - Deferred Loss Contracts [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial asset (liability), net | 1,189 | 1,340 | 963 |
Level 2 [Member] | Available-for-Sale Investments in Savings Restoration Plan [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | ' | ' | ' |
Level 2 [Member] | Savings Restoration Plan Liability [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | ' | ' | ' |
Level 2 [Member] | Cash Flow Hedges - Deferred Gains Contracts [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | 1,189 | 1,340 | 1,742 |
Level 2 [Member] | Cash Flow Hedges - Deferred Loss Contracts [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | ' | ' | -779 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial asset (liability), net | ' | ' | ' |
Level 3 [Member] | Available-for-Sale Investments in Savings Restoration Plan [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | ' | ' | ' |
Level 3 [Member] | Savings Restoration Plan Liability [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | ' | ' | ' |
Level 3 [Member] | Cash Flow Hedges - Deferred Gains Contracts [Member] | Prepaid Expense and Other [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available - for - sale investments and Cash flow hedges | ' | ' | ' |
Level 3 [Member] | Cash Flow Hedges - Deferred Loss Contracts [Member] | Accrued and Other Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Savings Restoration Plan liability | ' | ' | ' |
Derivative_Financial_Instrumen5
Derivative Financial Instruments and Fair Value Measurements - Estimated Fair Value of Debt Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Carrying Amount | $572,895 | ' |
Senior Secured Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, Fair Value | 595,034 | 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 | 11,710 | 14,128 |
Debt instrument, Carrying Amount | 12,259 | 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 |
Equity_Incentive_Plans_Additio
Equity Incentive Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2003 Stock Option Plan [Member] | |||||
Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Performance Share Units [Member] | ||||||||||
Vesting Period One Year [Member] | Vesting Period For 8 Quarter After Completion Of One Year [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized shares | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | ' | ' | ' | ' | ' |
Shares available for future grants | ' | ' | ' | ' | ' | ' | ' | 920,171 | ' | ' | ' | ' | ' |
Stock option vesting period description | ' | ' | ' | ' | ' | ' | ' | ' | 'With one-third of the options vesting on the first anniversary of the grant date, and one-twelfth of the options vesting on each of the next eight ensuing calendar quarter-ends | ' | ' | ' | ' |
Expiration period from grant date | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' |
Percent of options vesting after 1 year of grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' | ' |
Percent of options vesting for eight quarters after 1 year of grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.33% | ' | ' |
Percent of original granted shares that can be vested - minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' |
Percent of original granted shares that can be vested - maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | ' |
Number of options issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,519 |
Number of options outstanding | 1,869,124 | 2,029,010 | 1,676,812 | 1,194,640 | ' | ' | ' | ' | ' | ' | ' | ' | 62,519 |
Options expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years |
Unrecognized compensation expense | $10,260 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards outstanding | 7,880 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of restricted stock awards | $2,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of achievement of targeted future prices of company's common stock | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' |
Period of return on invested capital and adjusted EBITDA | ' | ' | ' | ' | ' | 'Three to five years | ' | ' | ' | ' | ' | ' | ' |
Number of performance share units awarded | ' | ' | ' | ' | 427,736 | 139,343 | 0 | ' | ' | ' | ' | ' | ' |
Equity_Incentive_Plans_StockBa
Equity Incentive Plans - Stock-Based Compensation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total Stock-based compensation expense | $9,414 | $10,563 | $7,697 |
Cost of Goods Sold [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total Stock-based compensation expense | 684 | 640 | 506 |
Selling, General and Administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total Stock-based compensation expense | $8,730 | $9,923 | $7,191 |
Equity_Incentive_Plans_Stock_O
Equity Incentive Plans - Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Beginning balance, Shares | 2,029,010 | 1,676,812 | 1,194,640 |
Granted, Shares | 22,500 | 406,962 | 542,784 |
Exercised, Shares | ' | ' | -833 |
Forfeited, Shares | -182,386 | -54,764 | -59,779 |
Ending balance, Shares | 1,869,124 | 2,029,010 | 1,676,812 |
Exercisable at year end, Shares | 1,697,339 | 1,377,982 | 753,165 |
Beginning balance, Exercise Price | $31.84 | $36 | $43.13 |
Granted, Exercise Price | $13.47 | $17.70 | $20.44 |
Exercised, Exercise Price | ' | ' | $21.88 |
Forfeited, Exercise Price | $102.43 | $54.16 | $37.51 |
Ending balance, Exercise Price | $24.73 | $31.84 | $36 |
Exercisable at year end, Exercise Price | $25.50 | $37.97 | $54.47 |
Equity_Incentive_Plans_BlackSc
Equity Incentive Plans - Black-Scholes Option-Pricing Model (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Expected life of options | '4 years 3 months 18 days | '4 years 3 months 18 days | '4 years 3 months 18 days |
Risk free interest rate, minimum | 0.75% | 0.63% | 0.91% |
Risk free interest rate, maximum | 0.88% | 0.85% | 2.39% |
Expected volatility of stock, minimum | 54.66% | 62.12% | 60.72% |
Expected volatility of stock, maximum | 54.94% | 67.05% | 62.73% |
Expected dividend yield | ' | ' | ' |
Weighted average fair value | $5.95 | $8.86 | $10.22 |
Equity_Incentive_Plans_Outstan
Equity Incentive Plans - Outstanding Stock Options (Detail) (USD $) | 12 Months Ended |
Dec. 31, 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 1 month 17 days |
Outstanding, Number of Options | 435,898 |
Exercisable, Weighted Average Remaining Contractual Life | '4 years 11 months 16 days |
Outstanding, Weighted Average Exercise Price | $17.21 |
Exercisable, Number of Options | 271,574 |
Exercisable, Weighted Average Exercise Price | $17.42 |
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 4 days |
Outstanding, Number of Options | 493,197 |
Exercisable, Weighted Average Remaining Contractual Life | '4 years |
Outstanding, Weighted Average Exercise Price | $20.41 |
Exercisable, Number of Options | 489,696 |
Exercisable, Weighted Average Exercise Price | $20.40 |
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 3 months 7 days |
Outstanding, Number of Options | 877,510 |
Exercisable, Weighted Average Remaining Contractual Life | '3 years 3 months 4 days |
Outstanding, Weighted Average Exercise Price | $21.89 |
Exercisable, Number of Options | 873,550 |
Exercisable, Weighted Average Exercise Price | $21.89 |
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 1 month 2 days |
Outstanding, Number of Options | 62,519 |
Exercisable, Weighted Average Remaining Contractual Life | '2 years 1 month 2 days |
Outstanding, Weighted Average Exercise Price | $150.99 |
Exercisable, Number of Options | 62,519 |
Exercisable, Weighted Average Exercise Price | $150.99 |
Range Five [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding, Weighted Average Remaining Contractual Life | '3 years 10 months 10 days |
Outstanding, Number of Options | 1,869,124 |
Exercisable, Weighted Average Remaining Contractual Life | '3 years 8 months 16 days |
Outstanding, Weighted Average Exercise Price | $24.73 |
Exercisable, Number of Options | 1,697,339 |
Exercisable, Weighted Average Exercise Price | $25.50 |
Equity_Incentive_Plans_Restric
Equity Incentive Plans - Restricted Stock Award (Detail) (Restricted Stock [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested, beginning of year, Shares | 629,435 | 405,595 | 257,932 |
Granted, Shares | 203,089 | 240,825 | 154,519 |
Vested, Shares | -244,973 | -10,406 | -3,428 |
Forfeited, Shares | -11,509 | -6,579 | -3,428 |
Nonvested, end of year, Shares | 576,042 | 629,435 | 405,595 |
Nonvested, beginning of year, Weighted Average Grant Date Per Share Fair Value | $18.40 | $18.05 | $16.60 |
Granted, Weighted Average Grant Date Per Share Fair Value | $13.50 | $19.02 | $20.41 |
Vested, Weighted Average Grant Date Per Share Fair Value | $16.61 | $18.13 | $16.62 |
Forfeited, Weighted Average Grant Date Per Share Fair Value | $16.96 | $19.85 | $16.62 |
Nonvested, end of year, Weighted Average Grant Date Per Share Fair Value | $17.47 | $18.40 | $18.05 |
Equity_Incentive_Plans_Perform
Equity Incentive Plans - Performance Share Unit (Detail) (Performance Shares [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Performance Shares [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested, beginning of year, Shares | 139,343 | ' | ' |
Granted, Shares | 427,736 | 139,343 | 0 |
Vested, Shares | ' | ' | ' |
Forfeited, Shares | -8,966 | ' | ' |
Nonvested, end of year, Shares | 558,113 | 139,343 | ' |
Nonvested, 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 | $17.04 | ' | ' |
Nonvested, end of year, Weighted Average Grant Date Per Share Fair Value | $17.02 | $18.42 | ' |
Business_Segment_Information_A
Business Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of segments | 2 |
Business_Segment_Information_T1
Business Segment Information - Total Assets by Segment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | $1,118,417 | $1,106,181 |
Printed Circuit Boards [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | 975,570 | 955,618 |
Assembly [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | 99,857 | 87,280 |
Other [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets, Total | $42,990 | $63,283 |
Business_Segment_Information_N
Business Segment Information - Net Sales and Operating Income (Loss) by Segment, together with Reconciliation to (loss) Income Before Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales to external customers: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $303,381 | $309,172 | $285,553 | $272,940 | $273,604 | $327,352 | $296,861 | $262,089 | $1,171,046 | $1,159,906 | $1,057,317 |
Intersegment sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | ' | ' | ' | ' | ' | ' | ' | ' | 11,581 | 7,379 | 9,628 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | 11,737 | 6,359 | 4,548 | 2,553 | 1,013 | 4,359 | 8,738 | 5,159 | 25,197 | 19,269 | 70,871 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 44,797 | 42,156 | 28,906 |
Amortization of deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | 2,898 | 2,723 | 2,015 |
Loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,234 | ' |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -5,983 | -419 | 1,202 |
(Loss) income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -16,515 | -49,425 | 38,748 |
Operating Segments [Member] | Printed Circuit Boards [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 996,528 | 959,793 | 856,319 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 25,255 | 27,357 | 65,550 |
Operating Segments [Member] | Assembly [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 174,518 | 200,113 | 200,998 |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 565 | 1,639 | 6,656 |
Operating Segments [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -623 | -9,727 | -1,335 |
Intersegment Eliminations [Member] | Printed Circuit Boards [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intersegment sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | ' | ' | ' | ' | ' | ' | ' | ' | 11,581 | 7,379 | 9,628 |
Intersegment Eliminations [Member] | Assembly [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intersegment sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment reporting information, Intersegment revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Segment_Information_C
Business Segment Information - Capital Expenditures and Depreciation Expense by Segment (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Related Capital Expenditure And Depreciation And Amortization On Those Expenditure [Line Items] | ' | ' | ' |
Total capital expenditures | $108,521 | $108,721 | $101,664 |
Total depreciation expense | 88,060 | 80,019 | 65,938 |
Printed Circuit Boards [Member] | ' | ' | ' |
Segment Related Capital Expenditure And Depreciation And Amortization On Those Expenditure [Line Items] | ' | ' | ' |
Total capital expenditures | 100,881 | 102,058 | 93,387 |
Total depreciation expense | 83,554 | 75,506 | 61,995 |
Assembly [Member] | ' | ' | ' |
Segment Related Capital Expenditure And Depreciation And Amortization On Those Expenditure [Line Items] | ' | ' | ' |
Total capital expenditures | 6,653 | 5,952 | 7,639 |
Total depreciation expense | 4,506 | 4,513 | 3,943 |
Others [Member] | ' | ' | ' |
Segment Related Capital Expenditure And Depreciation And Amortization On Those Expenditure [Line Items] | ' | ' | ' |
Total capital expenditures | $987 | $711 | $638 |
Business_Segment_Information_N1
Business Segment Information - Net Sales by Country of Destination (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $303,381 | $309,172 | $285,553 | $272,940 | $273,604 | $327,352 | $296,861 | $262,089 | $1,171,046 | $1,159,906 | $1,057,317 |
Country of Destination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,171,046 | 1,159,906 | 1,057,317 |
Country of Destination [Member] | United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 526,744 | 465,798 | 384,594 |
Country of Destination [Member] | People's Republic of China, including Hong Kong [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 234,072 | 244,290 | 247,321 |
Country of Destination [Member] | Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 46,237 | 55,305 | 63,955 |
Country of Destination [Member] | Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 43,874 | 40,070 | 27,312 |
Country of Destination [Member] | Malaysia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 43,651 | 44,474 | 30,633 |
Country of Destination [Member] | Hungary [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 42,374 | 43,141 | 44,288 |
Country of Destination [Member] | Netherlands [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 27,169 | 27,084 | 9,143 |
Country of Destination [Member] | France [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 22,316 | 27,733 | 43,066 |
Country of Destination [Member] | India [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 21,662 | 28,905 | 29,032 |
Country of Destination [Member] | Singapore [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 19,915 | 16,366 | 14,560 |
Country of Destination [Member] | Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 14,026 | 8,248 | 11,820 |
Country of Destination [Member] | SWEDEN | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 13,969 | 7,877 | 4,624 |
Country of Destination [Member] | Brazil [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 13,508 | 14,632 | 4,913 |
Country of Destination [Member] | Thailand [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,959 | 12,873 | 11,290 |
Country of Destination [Member] | Israel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,326 | 15,651 | 10,552 |
Country of Destination [Member] | United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,052 | 19,542 | 20,876 |
Country of Destination [Member] | Portugal [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,555 | 15,223 | 12,888 |
Country of Destination [Member] | Czech Republic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,026 | 13,585 | 15,991 |
Country of Destination [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $45,611 | $59,109 | $70,459 |
Business_Segment_Information_C1
Business Segment Information - Components of Net Sales by Country of Manufacture (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $303,381 | $309,172 | $285,553 | $272,940 | $273,604 | $327,352 | $296,861 | $262,089 | $1,171,046 | $1,159,906 | $1,057,317 |
Country of Manufacture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,171,046 | 1,159,906 | 1,057,317 |
Country of Manufacture [Member] | China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 758,425 | 829,593 | 877,987 |
Country of Manufacture [Member] | United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 282,036 | 246,959 | 142,675 |
Country of Manufacture [Member] | Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 75,106 | 41,881 | ' |
Country of Manufacture [Member] | Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Geographical Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $55,479 | $41,473 | $36,655 |
Business_Segment_Information_C2
Business Segment Information - Components of Property, Plant and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Property, plant and equipment, net | $446,488 | $427,968 |
People's Republic of China, including Hong Kong [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Property, plant and equipment, net | 302,563 | 284,690 |
United States [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Property, plant and equipment, net | 104,647 | 104,192 |
Canada [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Property, plant and equipment, net | 30,448 | 30,951 |
Mexico [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Property, plant and equipment, net | $8,830 | $8,135 |
Accumulated_Other_Compensation2
Accumulated Other Compensation Income - Summary of Changes in Accumulated Other Comprehensive Income, by Component (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at Beginning Balance | $8,868 | $8,055 | $7,696 |
Other comprehensive income, net of tax and before reclassifications | 5,377 | 3,160 | 3,946 |
Amounts reclassified from accumulated other comprehensive income, net of tax | -5,784 | -2,347 | -3,587 |
Other comprehensive (loss) income, net of tax | -407 | 813 | 359 |
Accumulated other comprehensive income at Ending Balance | 8,461 | 8,868 | 8,055 |
Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at Beginning Balance | 1,340 | 527 | 20 |
Other comprehensive income, net of tax and before reclassifications | 5,377 | 3,160 | 3,946 |
Amounts reclassified from accumulated other comprehensive income, net of tax | -5,784 | -2,347 | -3,439 |
Other comprehensive (loss) income, net of tax | -407 | 813 | 507 |
Accumulated other comprehensive income at Ending Balance | 933 | 1,340 | 527 |
Foreign Currency Translation [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income at Beginning Balance | ' | ' | 7,676 |
Amounts reclassified from accumulated other comprehensive income, net of tax | ' | ' | -148 |
Other comprehensive (loss) income, net of tax | ' | ' | -148 |
Accumulated other comprehensive income at Ending Balance | $7,528 | $7,528 | $7,528 |
Accumulated_Other_Compensation3
Accumulated Other Compensation Income - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | ' | ' | ' |
Other comprehensive income (loss) net of tax | $256 | $0 | $436 |
Retirement_Plans_Additional_In
Retirement Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation Related Costs [Abstract] | ' | ' | ' |
Maximum compensation employees can defer | 30.00% | ' | ' |
Additional contributions by the Company to the Retirement Plan | 1.00% | ' | ' |
Company's contributions to the Retirement Plan | $1,871 | $1,310 | $1,227 |
Expense related to the Savings Restoration Plan | $114 | $120 | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Directors | |||
Related Party Transaction [Line Items] | ' | ' | ' |
Purchase price of minority interest purchased | $107 | $108 | $118 |
Rental and service fees | 23 | ' | ' |
Number of directors | ' | 2 | ' |
Directors [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 60 | 60 | 60 |
Restricted stock | 11,848 | 6,852 | 7,129 |
Restricted stock | ' | 7,333 | ' |
Chairman of Board [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 120 | 120 | 120 |
Members of Audit Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 15 | 15 | 15 |
Members of Compensation Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 13 | 13 | 13 |
Members of Nominating and Governance Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 10 | 10 | 10 |
Chairman of Audit Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 15 | 15 | 15 |
Chairman of Compensation Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 13 | 13 | 13 |
Chairman of Nominating and Governance Committee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Director fees | 10 | 10 | 10 |
Huizhou Facility [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Purchase price of minority interest purchased | ' | $721 | $781 |
Summary_of_Interim_Financial_I2
Summary of Interim Financial Information - Schedule of Quarterly financial Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Financial Position [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $303,381 | $309,172 | $285,553 | $272,940 | $273,604 | $327,352 | $296,861 | $262,089 | $1,171,046 | $1,159,906 | $1,057,317 |
Cost of goods sold | 244,253 | 253,737 | 232,448 | 219,058 | 218,588 | 261,953 | 235,556 | 211,057 | 949,496 | 927,154 | 837,686 |
Selling, general and administrative | 22,619 | 25,192 | 25,001 | 27,693 | 29,105 | 27,635 | 31,228 | 21,492 | 100,505 | 109,460 | 80,300 |
Depreciation and amortization | 24,046 | 23,537 | 23,556 | 23,636 | 23,866 | 23,925 | 19,381 | 17,394 | 94,775 | 84,566 | 67,648 |
Restructuring and impairment | 726 | 347 | ' | ' | 1,032 | 9,480 | 1,958 | 6,987 | 1,073 | 19,457 | 812 |
Operating income | 11,737 | 6,359 | 4,548 | 2,553 | 1,013 | 4,359 | 8,738 | 5,159 | 25,197 | 19,269 | 70,871 |
Net (loss) income | 4,972 | -9,032 | -10,268 | -13,282 | -14,498 | -9,545 | -33,038 | -5,137 | -27,610 | -62,218 | 30,284 |
Noncontrolling interest | 215 | 121 | 101 | 173 | 70 | 243 | 271 | -495 | 610 | 89 | 1,791 |
Net (loss) income attributable to common stockholders | $4,757 | ($9,153) | ($10,369) | ($13,455) | ($14,568) | ($9,788) | ($33,309) | ($4,642) | ($28,220) | ($62,307) | $28,493 |
Basic earnings per share | $0.24 | ($0.45) | ($0.52) | ($0.67) | ($0.73) | ($0.49) | ($1.67) | ($0.23) | ($1.40) | ($3.12) | $1.43 |
Diluted earnings per share | $0.23 | ($0.45) | ($0.52) | ($0.67) | ($0.73) | ($0.49) | ($1.67) | ($0.23) | ($1.40) | ($3.12) | $1.42 |
Basic weighted average shares outstanding | 20,179,174 | 20,171,083 | 20,010,029 | 19,994,820 | 19,994,820 | 19,994,820 | 19,990,628 | 19,984,414 | 20,089,507 | 19,991,190 | 19,981,022 |
Diluted weighted average shares outstanding | 20,464,264 | 20,171,083 | 20,010,029 | 19,994,820 | 19,994,820 | 19,994,820 | 19,990,628 | 19,984,414 | 20,089,507 | 19,991,190 | 20,129,787 |