Materion (MTRN) 10-Q 1 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 28, 2014	Apr. 23, 2014
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	28-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'MTRN	'
Entity Registrant Name	'MATERION Corp	'
Entity Central Index Key	'0001104657	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	20,594,188

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Income Statement [Abstract]	'	'
Net sales	$258,929	$299,169
Cost of sales	213,467	250,830
Gross margin	45,462	48,339
Selling, general and administrative expense	31,259	32,780
Research and development expense	2,787	3,557
Other—net	363	2,480
Operating profit	11,053	9,522
Interest expense—net	695	828
Income before income taxes	10,358	8,694
Income tax expense	3,027	1,909
Net income	$7,331	$6,785
Basic earnings per share:	'	'
Net income per share of common stock (in dollars per share)	$0.36	$0.33
Diluted earnings per share:	'	'
Net income per share of common stock (in dollars per share)	$0.35	$0.33
Cash dividends per share (in dollars per share)	$0.08	$0.08
Weighted-average number of shares of common stock outstanding:	'	'
Basic (in shares)	20,604	20,481
Diluted (in shares)	20,962	20,824

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Statement of Comprehensive Income [Abstract]	'	'
Net income	$7,331	$6,785
Other comprehensive income:	'	'
Foreign currency translation adjustment	589	-2,754
Derivative and hedging activity, net of tax	7	403
Pension and post employment benefit adjustment, net of tax	9,383	1,219
Net change in accumulated other comprehensive income	9,979	-1,132
Comprehensive income	$17,310	$5,653

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$19,313	$22,774
Accounts receivable	121,527	113,012
Inventories	226,961	213,392
Prepaid expenses	38,037	35,761
Deferred income taxes	9,948	9,566
Total current assets	415,786	394,505
Long-term deferred income taxes	4,285	4,672
Property, plant and equipment—cost	784,513	782,879
Less allowances for depreciation, depletion and amortization	-529,546	-520,986
Property, plant and equipment—net	254,967	261,893
Intangible assets	22,751	24,248
Other assets	4,799	3,874
Goodwill	88,753	88,753
Total assets	791,341	777,945
Current liabilities	'	'
Short-term debt	41,832	35,566
Accounts payable	27,404	36,556
Other liabilities and accrued items	46,456	54,851
Income taxes	4,755	1,564
Unearned revenue	1,941	479
Total current liabilities	122,388	129,016
Other long-term liabilities	16,046	16,531
Retirement and post-employment benefits	59,970	80,275
Unearned income	55,317	56,490
Long-term income taxes	1,576	1,576
Deferred income taxes	6,063	1,469
Long-term debt	51,107	29,267
Shareholders’ equity	478,874	463,321
Total liabilities and shareholders’ equity	$791,341	$777,945

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Cash flows from operating activities:	'	'
Net income	$7,331	$6,785
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Depreciation, depletion and amortization	12,131	8,572
Amortization of deferred financing costs in interest expense	178	162
Stock-based compensation expense	1,412	1,199
Changes in assets and liabilities net of acquired assets and liabilities:	'	'
Decrease (increase) in accounts receivable	-8,214	-4,255
Decrease (increase) in inventory	-13,363	3,770
Decrease (increase) in prepaid and other current assets	153	2,390
Decrease (increase) in deferred income taxes	17	1,951
Increase (decrease) in accounts payable and accrued expenses	-16,474	-26,153
Increase (decrease) in unearned revenue	1,462	32
Increase (decrease) in interest and taxes payable	2,648	473
Increase (decrease) in long-term liabilities	-7,671	-525
Other-net	-2,821	833
Net cash used in operating activities	-23,211	-4,766
Cash flows from investing activities:	'	'
Payments for purchase of property, plant and equipment	-6,120	-5,781
Payments for mine development	-80	-3,874
Proceeds from sale of property, plant and equipment	3,009	0
Other investments-net	0	8
Net cash used in investing activities	-3,191	-9,647
Cash flows from financing activities:	'	'
Proceeds from issuance (repayments) of short-term debt	4,119	-678
Proceeds from issuance of long-term debt	30,086	20,097
Repayment of long-term debt	-8,246	-247
Principal payments under capital lease obligations	-163	-164
Payment of dividends	-1,648	-1,544
Repurchase of common stock	-1,466	'
Issuance of common stock under stock option plans	65	576
Tax benefit from stock compensation realization	13	920
Net cash provided from financing activities	22,760	18,960
Effects of exchange rate changes	181	-361
Net change in cash and cash equivalents	-3,461	4,186
Cash and cash equivalents at beginning of period	22,774	16,056
Cash and cash equivalents at end of period	$19,313	$20,242

Accounting_Policies

Accounting Policies	3 Months Ended
	Mar. 28, 2014
Accounting Policies [Abstract]	'
Accounting Policies	'
	Accounting Policies
	In management’s opinion, the accompanying consolidated financial statements contain all adjustments necessary to present fairly the financial position as of March 28, 2014 and December 31, 2013 and the results of operations for the first quarter ended March 28, 2014 and March 29, 2013. All adjustments were of a normal and recurring nature. Certain amounts in prior years have been reclassified to conform to the 2014 consolidated financial statement presentation.

Inventories

Inventories	3 Months Ended
	Mar. 28, 2014
Inventory Disclosure [Abstract]	'
Inventories	'
	Inventories
	Inventories on the Consolidated Balance Sheets are summarized as follows:
	(Thousands)	Mar. 28,		Dec. 31,
		2014		2013
	Principally average cost:
	Raw materials and supplies	$	42,235	$	42,352
	Work in process	211,520		203,107
	Finished goods	52,022		45,503
	Gross inventories	305,777		290,962
	Excess of average cost over LIFO inventory value	78,816		77,570
	Net inventories	$	226,961	$	213,392

Pensions_and_Other_Postemploym

Pensions and Other Post-employment Benefits	3 Months Ended
	Mar. 28, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pensions and Other Post-employment Benefits	'
	Pensions and Other Post-employment Benefits
	The following is a summary of the first quarter 2014 and 2013 net periodic benefit cost for the domestic pension plans (which include the defined benefit plan and the supplemental retirement plans) and the domestic retiree medical plan.
		Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
	(Thousands)	Mar. 28, 2014			Mar. 29, 2013			Mar. 28, 2014			Mar. 29, 2013
	Components of net periodic benefit cost
	Service cost	$	1,936		$	2,356		$	34		$	76
	Interest cost	2,444			2,353			169			311
	Expected return on plan assets	(3,013		)	(2,996		)	—			—
	Amortization of prior service cost (benefit)	(109		)	(86		)	(374		)	29
	Amortization of net loss	1,275			1,933			—			—
	Net periodic benefit cost (benefit)	$	2,533		$	3,560		$	(171	)	$	416
	The Company made contributions to the domestic defined benefit pension plan of $7.8 million in the first quarter of 2014.
	The Company has notified participants of planned changes to the domestic retiree medical plan, including changing the benefit formula for participants covered by the plan. The revised benefit formula is designed to lower costs for the Company and the majority of plan participants. As a result of this change, the plan liability on the Company's Consolidated Balance Sheet was reduced by $14.0 million in the first quarter 2014, with the offset increasing other comprehensive income, a component of sharholders' equity. The liability reduction will be recognized in earnings over the average remaining service life.

Contingencies

Contingencies	3 Months Ended
	Mar. 28, 2014
Loss Contingency [Abstract]	'
Contingencies	'
	Contingencies
	Materion Brush Inc., one of the Company’s wholly owned subsidiaries, is a defendant from time to time in legal proceedings where the plaintiffs allege they have contracted chronic beryllium disease (CBD) or related ailments as a result of exposure to beryllium. The Company will record a reserve for CBD or other litigation when a loss from either settlement or verdict is probable and estimable. Claims filed by third-party plaintiffs where the alleged exposure occurred prior to December 31, 2007 may be covered by insurance subject to an annual deductible of $1.0 million. Reserves are recorded for asserted claims only and defense costs are expensed as incurred. Two CBD cases, which were filed in prior periods, were outstanding as of the end of the first quarter 2014.
	No other CBD cases were filed or dismissed during the first quarter 2014. A loss reserve of $0.2 million was recorded for these two cases as of the end of the first quarter 2014.
	The Company has an active environmental compliance program and records reserves for the probable cost of identified environmental remediation projects. The reserves are established based upon analyses conducted by the Company’s engineers and outside consultants and are adjusted from time to time based upon ongoing studies, the difference between actual and estimated costs and other factors. The reserves may also be affected by rulings and negotiations with regulatory agencies. The undiscounted reserve balance was $4.8 million as of the end of the first quarter 2014 and $4.8 million at December 31, 2013. Environmental projects tend to be long term and the final actual remediation costs may differ from the amounts currently recorded.
	Early in the second quarter 2014, the Company reached an agreement with its insurance carrier to settle the outstanding precious metal theft claim for $6.8 million. The cash was received and the benefit of this settlement will be recorded in the Company's financial statements in the second quarter 2014.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 28, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	Segment Reporting
	(Thousands)	Advanced		Performance		Beryllium and			Technical		Subtotal		All			Total
		Material		Alloys		Composites			Materials				Other
		Technologies
	First Quarter 2014
	Sales to external customers	$	163,197	$	66,685	$	15,497		$	13,550	$	258,929	$	—		$	258,929
	Intersegment sales	497		519		147			120		1,283		—			1,283
	Operating profit (loss)	7,604		3,548		1,102			182		12,436		(1,383		)	11,053
	Assets	318,561		266,977		145,216			20,865		751,619		39,722			791,341
	First Quarter 2013
	Sales to external customers	$	193,853	$	74,522	$	12,322		$	18,472	$	299,169	$	—		$	299,169
	Intersegment sales	748		430		70			230		1,478		—			1,478
	Operating profit (loss)	3,351		7,236		(1,296		)	1,436		10,727		(1,205		)	9,522
	Assets	334,325		272,245		135,166			23,417		765,153		47,247			812,400

Stockbased_Compensation_Expens

Stock-based Compensation Expense	3 Months Ended
	Mar. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-based Compensation Expense	'
	Stock-based Compensation Expense
	Stock-based compensation expense was $1.4 million in the first quarter 2014 and $1.2 million in the first quarter 2013.
	The Company granted approximately 25,000 performance-based restricted stock units to certain employees in the first quarter 2014. The fair value will be expensed over the vesting period of three years. The final share payout to the employees will be based upon the Company’s total return to shareholders over the vesting period relative to a peer group’s performance over the same period.
	The Company received $0.1 million for the exercise of approximately 4,000 options during the first quarter 2014 and $0.6 million for the exercise of approximately 40,000 options during the first quarter 2013. Exercises of stock appreciation rights totaled approximately 27,000 in the first quarter 2014 and 28,000 in the first quarter 2013.

Othernet

Other-net	3 Months Ended
	Mar. 28, 2014
Other Income and Expenses [Abstract]	'
Other-net	'
	Other-net
	Other-net income (expense) for the first quarter 2014 and 2013 is summarized as follows:
		First Quarter Ended
		Mar. 28,			Mar. 29,
	(Thousands)	2014			2013
	Foreign currency exchange/translation (loss) gain	$	(52	)	$	719
	Amortization of intangible assets	(1,322		)	(1,292		)
	Metal consignment fees	(1,866		)	(1,817		)
	Net gain on disposal of fixed assets	2,637			33
	Other items	240			(123		)
	Total	$	(363	)	$	(2,480	)

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 28, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The tax expense of $3.0 million in the first quarter 2014 was calculated by applying a rate of 29.2% against income before income taxes, while the tax expense of $1.9 million in the first quarter 2013 was calculated by applying a rate of 22.0% against the income before income taxes in that period.
	The differences between the statutory and effective rates in the first quarter of both years was due to the impact of percentage depletion, the production deduction, foreign source income and deductions, executive compensation, state and local taxes and other factors. The research and experimentation credit also reduced the effective tax rate in the first quarter 2013. The U.S. Congress has not extended the credit for 2014, so no benefit has been recognized in 2014.
	A discrete tax benefit of $0.6 million was recorded in the first quarter 2013 primarily for the research and experimentation credit for 2012 that was not extended by the U.S. Congress until 2013. Accounting regulations require tax expense to be recorded based upon the laws that were in effect as of the end of the period.

Depreciation_and_Amortization

Depreciation and Amortization	3 Months Ended
	Mar. 28, 2014
Property, Plant and Equipment [Abstract]	'
Depreciation and Amortization	'
	Depreciation and Amortization
	The Company received $63.5 million from the U.S. Department of Defense (DoD) in previous periods for reimbursement of the DoD's share of the cost of capital equipment acquired by the Company under a Title III contract. The Company recorded the cost of the equipment in property, plant and equipment and the reimbursements as unearned income, a liability on the Consolidated Balance Sheets. The equipment was placed in service during the third quarter 2012 and its full cost is being depreciated in accordance with Company policy. The unearned income liability is being reduced ratably with the depreciation expense recorded over the life of the equipment.
	In the first quarter of 2014, the depreciation expense on the equipment subject to reimbursement was $1.2 million. Unearned income was reduced by $1.2 million, accordingly, with the offset recorded as a credit to cost of sales. Depreciation, depletion and amortization expense on the Consolidated Statement of Cash Flows is shown net of the reduction in unearned income.
	Amortization of mine development costs are initially recorded in inventory and subsequently recorded into cost of sales in the period that the inventory is sold. Depreciation, depletion and amortization depicted on the Consolidated Statement of Cash Flows, including the mine development costs amortized into inventory, totaled $12.1 million in the first quarter 2014 and $8.6 million in the first quarter 2013. Depreciation, depletion and amortization expense recorded in operating profit in the Consolidated Statement of Income totaled $9.8 million in the first quarter 2014 and $9.8 million in the first quarter 2013.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 28, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The Company measures and records financial instruments at their fair values. A fair value hierarchy is used for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels:
	Level 1 — Quoted market prices in active markets for identical assets and liabilities;
	Level 2 — Inputs other than Level 1 inputs that are either directly or indirectly observable; and
	Level 3 — Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use.
	The following table summarizes the financial instruments measured at fair value in the Consolidated Balance Sheets as of March 28, 2014:
				Fair Value Measurements
	(Thousands)	Total		Quoted Prices		Significant		Significant
				in  Active		Other		Unobservable
				Markets  for		Observable		Inputs
				Identical		Inputs		(Level 3)
				Assets		(Level 2)
				(Level  1)
	Financial Assets
	Directors’ deferred compensation investments	$	540	$	540	$	—	$	—
	Foreign currency forward contracts	164		—		164		—
	Total	$	704	$	540	$	164	$	—
	Financial Liabilities
	Directors’ deferred compensation liability	$	540	$	540	$	—	$	—
	Foreign currency forward contracts	260		—		260		—
	Total	$	800	$	540	$	260	$	—
	The Company uses a market approach to value the assets and liabilities for outstanding derivative contracts in the table above. Outstanding contracts are valued through models that utilize market observable inputs including both spot and forward prices for the same underlying currencies and metals. The carrying values of the other working capital items and debt on the Consolidated Balance Sheets approximate their fair values as of March 28, 2014.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activity	3 Months Ended
	Mar. 28, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activity	'
	Derivative Instruments and Hedging Activity
	The Company uses derivative contracts to hedge portions of its foreign currency and precious metal exposures. The objectives for using derivatives in these areas are as follows:
	Foreign Currency. The Company sells products to overseas customers in their local currencies, primarily the euro and yen. The Company uses foreign currency derivatives, mainly forward contracts and options, to hedge these anticipated sales transactions. The purpose of the hedge program is to protect against the reduction in dollar value of the foreign currency sales from adverse exchange rate movements. Should the dollar strengthen significantly, the decrease in the translated value of the foreign currency sales should be partially offset by gains on the hedge contracts. Depending upon the methods used, the hedge contract may limit the benefits from a weakening U.S. dollar.
	The use of forward contracts locks in a firm rate and eliminates any downside from an adverse rate movement as well as any benefit from a favorable rate movement. The Company may from time to time choose to hedge with options or a tandem of options known as a collar. These hedging techniques can limit or eliminate the downside risk but can allow for some or all of the benefit from a favorable rate movement to be realized. Unlike a forward contract, a premium is paid for an option; collars, which are a combination of a put and call option, may have a net premium but they can be structured to be cash neutral. The Company will primarily hedge with forward contracts due to the relationship between the cash outlay and the level of risk.
	The use of foreign currency derivative contracts is governed by policies approved by the Audit Committee of the Board of Directors. A team consisting of senior financial managers reviews the estimated exposure levels, as defined by budgets, forecasts and other internal data, and determines the timing, amounts and instruments to use to hedge that exposure within the confines of the policy. Management analyzes the effective hedged rates and the actual and projected gains and losses on the hedging transactions against the program objectives, targeted rates and levels of risk assumed. Hedge contracts are typically layered in at different times for a specified exposure period in order to minimize the impact of rate movements.
	Precious Metals. The Company maintains the majority of its precious metal production requirements on consignment in order to reduce the working capital investment and the exposure to metal price movements. When a precious metal product is fabricated and ready for shipment to the customer, the metal is purchased out of consignment at the current market price and that price forms the basis for the price to be charged to the customer.
	In certain circumstances, a customer may want to establish the price for the precious metal when the sales order is placed rather than at the time of the shipment. Setting the selling price at a different date than when the material would be purchased potentially creates an exposure to movements in the market price of the metal. Therefore, in these limited situations, the Company may elect to enter into a forward contract to purchase a stated quantity of precious metal at a fixed price on a specified date in the future. The price in the forward contract serves as the basis for the price to be charged to the customer. By so doing, the selling and purchase prices are matched and the Company’s market price exposure is reduced.
	The Company refines precious metal-containing materials for its customers and typically will purchase the refined metal from the customer at current market prices. In limited circumstances, the customer may want to fix the price to be paid at the time of the order as opposed to when the material is refined. The customer may also want to fix the price to be paid for a number of orders over a period of time. The Company may then enter into a hedge contract, either a forward contract or a swap, to fix the price for the estimated quantity of refined metal to be purchased thereby reducing the exposure to adverse movements in the market price of the metal.
	The Company will only enter into a derivative contract if there is an underlying identified exposure. Contracts are typically held until maturity. The Company does not engage in derivative trading activities and does not use derivatives for speculative purposes. The Company only uses currency hedge contracts that are denominated in the same currency as the underlying exposure and precious metal hedge contracts denominated in the same metal as the underlying exposure.
	All derivatives are recorded on the balance sheet at their fair values. If the derivative is designated and effective as a cash flow hedge, changes in the fair value of the derivative are recognized in other comprehensive income (OCI) until the hedged item is recognized in earnings. The ineffective portion of a derivative’s fair value, if any, is recognized in earnings immediately. If a derivative is not a hedge, changes in the fair value are adjusted through income. The fair values of the outstanding derivatives are recorded on the balance sheet as assets (if the derivatives are in a gain position) or liabilities (if the derivatives are in a loss position). The fair values will also be classified as short term or long term depending upon their maturity dates.
	The outstanding foreign currency forward contracts had a notional value of $30.9 million as of March 28, 2014. All of these contracts were designated and effective as cash flow hedges. The fair value of the yen forward contracts of $0.2 million was recorded in prepaid expenses and the fair value of a loss of $0.3 million on the euro forward contracts was recorded in other liabilities and accrued items on the Consolidated Balance Sheets as of March 28, 2014.
	There was no ineffectiveness associated with the contracts outstanding at March 28, 2014 and no ineffectiveness expense was recorded in the first quarter of 2014 or 2013.
	Changes in the fair value of outstanding cash flow hedges recorded in OCI totaled $(0.1) million at March 28, 2014 and $1.0 million at March 29, 2013. The Company expects to relieve substantially the entire balance in OCI as of March 28, 2014 to income on the Consolidated Statements of Income during the twelve month period beginning March 29, 2014. See Note L to the Consolidated Financial Statements for additional OCI details.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 28, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Income	'
	Accumulated Other Comprehensive Income
	Changes in the components of accumulated other comprehensive income, including the amounts reclassified out, for the first quarter of 2014 and 2013 are as follows:
		Gains and Losses
		On Cash Flow Hedges
	(Thousands)	Foreign Currency			Precious Metals			Total			Pension and Post Employment Benefits			Foreign Currency Translation			Total
	Accumulated other comprehensive income, as of December 31, 2013
	Gross	$	(87	)	$	(19	)	$	(106	)	$	(77,301	)	$	287		$	(77,120	)
	Deferred tax (benefit)	(1,433		)	(7		)	(1,440		)	(15,792		)	—			(17,232		)
	Net	$	1,346		$	(12	)	$	1,334		$	(61,509	)	$	287		$	(59,888	)
	First quarter 2014 activity:
	Other comprehensive income (loss) before reclassifications	(92		)	—			(92		)	14,034			589			14,531
	Amounts reclassified from accumulated other comprehensive income	83			19			102			1,209			—			1,311
	Net current period other comprehensive income (loss) before tax	(9		)	19			10			15,243			589			15,842
	Deferred taxes on current period activity	(4		)	7			3			5,860			—			5,863
	Net current period other comprehensive income (loss) after tax	(5		)	12			7			9,383			589			9,979
	Accumulated other comprehensive income, as of March 28, 2014
	Gross	(96		)	—			(96		)	(62,058		)	876			(61,278		)
	Deferred tax (benefit)	(1,437		)	—			(1,437		)	(9,932		)	—			(11,369		)
	Net	$	1,341		$	—		$	1,341		$	(52,126	)	$	876		$	(49,909	)
	Accumulated other comprehensive income, as of December 31, 2012
	Gross	$	253		$	97		$	350		$	(127,541	)	$	4,077		$	(123,114	)
	Deferred tax (benefit)	(1,314		)	34			(1,280		)	(33,405		)	—			(34,685		)
	Net	1,567			63			1,630			(94,136		)	4,077			(88,429		)
	First quarter 2013 activity
	Other comprehensive income (loss) before reclassifications	858			—			858			—			(2,754		)	(1,896		)
	Amounts reclassified from accumulated other comprehensive income	(142		)	(97		)	(239		)	1,876			—			1,637
	Net current period other comprehensive income (loss) before tax	716			(97		)	619			1,876			(2,754		)	(259		)
	Deferred taxes on current period activity	250			(34		)	216			657			—			873
	Net current period other comprehensive income (loss) after tax	466			(63		)	403			1,219			(2,754		)	(1,132		)
	Accumulated other comprehensive income, as of March 29, 2013
	Gross	969			—			969			(125,665		)	1,323			(123,373		)
	Deferred tax (benefit)	(1,064		)	—			(1,064		)	(32,748		)	—			(33,812		)
	Net	$	2,033		$	—		$	2,033		$	(92,917	)	$	1,323		$	(89,561	)
	Reclassifications from accumulated other comprehensive income of gains and losses on foreign currency cash flow hedges are recorded in other-net on the Consolidated Statement of Income while the gains and losses on precious metal cash flow hedges are recorded in cost of sales on the Consolidated Statement of Income. See Note K to the Consolidated Financial Statements for additional details on cash flow hedges.
	Reclassifications from accumulated other comprehensive income for pension and post employment benefits are included in the computation of the net periodic pension and post employment benefit expense. See Note C to the Consolidated Financial Statements for additional details on pension and post employment expenses.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 28, 2014
Inventory Disclosure [Abstract]	'
Summary of Inventories	'
	Inventories on the Consolidated Balance Sheets are summarized as follows:
	(Thousands)	Mar. 28,		Dec. 31,
		2014		2013
	Principally average cost:
	Raw materials and supplies	$	42,235	$	42,352
	Work in process	211,520		203,107
	Finished goods	52,022		45,503
	Gross inventories	305,777		290,962
	Excess of average cost over LIFO inventory value	78,816		77,570
	Net inventories	$	226,961	$	213,392

Pensions_and_Other_Postemploym1

Pensions and Other Post-employment Benefits (Tables)	3 Months Ended
	Mar. 28, 2014
Compensation and Retirement Disclosure [Abstract]	'
Components of Net Periodic Benefit Cost	'
	The following is a summary of the first quarter 2014 and 2013 net periodic benefit cost for the domestic pension plans (which include the defined benefit plan and the supplemental retirement plans) and the domestic retiree medical plan.
		Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
	(Thousands)	Mar. 28, 2014			Mar. 29, 2013			Mar. 28, 2014			Mar. 29, 2013
	Components of net periodic benefit cost
	Service cost	$	1,936		$	2,356		$	34		$	76
	Interest cost	2,444			2,353			169			311
	Expected return on plan assets	(3,013		)	(2,996		)	—			—
	Amortization of prior service cost (benefit)	(109		)	(86		)	(374		)	29
	Amortization of net loss	1,275			1,933			—			—
	Net periodic benefit cost (benefit)	$	2,533		$	3,560		$	(171	)	$	416

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 28, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	(Thousands)	Advanced		Performance		Beryllium and			Technical		Subtotal		All			Total
		Material		Alloys		Composites			Materials				Other
		Technologies
	First Quarter 2014
	Sales to external customers	$	163,197	$	66,685	$	15,497		$	13,550	$	258,929	$	—		$	258,929
	Intersegment sales	497		519		147			120		1,283		—			1,283
	Operating profit (loss)	7,604		3,548		1,102			182		12,436		(1,383		)	11,053
	Assets	318,561		266,977		145,216			20,865		751,619		39,722			791,341
	First Quarter 2013
	Sales to external customers	$	193,853	$	74,522	$	12,322		$	18,472	$	299,169	$	—		$	299,169
	Intersegment sales	748		430		70			230		1,478		—			1,478
	Operating profit (loss)	3,351		7,236		(1,296		)	1,436		10,727		(1,205		)	9,522
	Assets	334,325		272,245		135,166			23,417		765,153		47,247			812,400

Othernet_Tables

Other-net (Tables)	3 Months Ended
	Mar. 28, 2014
Other Income and Expenses [Abstract]	'
Summary of Other-Net Expense	'
	Other-net income (expense) for the first quarter 2014 and 2013 is summarized as follows:
		First Quarter Ended
		Mar. 28,			Mar. 29,
	(Thousands)	2014			2013
	Foreign currency exchange/translation (loss) gain	$	(52	)	$	719
	Amortization of intangible assets	(1,322		)	(1,292		)
	Metal consignment fees	(1,866		)	(1,817		)
	Net gain on disposal of fixed assets	2,637			33
	Other items	240			(123		)
	Total	$	(363	)	$	(2,480	)

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 28, 2014
Fair Value Disclosures [Abstract]	'
Summary of Fair Value Information and Derivative Financial Instruments	'
	The following table summarizes the financial instruments measured at fair value in the Consolidated Balance Sheets as of March 28, 2014:
				Fair Value Measurements
	(Thousands)	Total		Quoted Prices		Significant		Significant
				in  Active		Other		Unobservable
				Markets  for		Observable		Inputs
				Identical		Inputs		(Level 3)
				Assets		(Level 2)
				(Level  1)
	Financial Assets
	Directors’ deferred compensation investments	$	540	$	540	$	—	$	—
	Foreign currency forward contracts	164		—		164		—
	Total	$	704	$	540	$	164	$	—
	Financial Liabilities
	Directors’ deferred compensation liability	$	540	$	540	$	—	$	—
	Foreign currency forward contracts	260		—		260		—
	Total	$	800	$	540	$	260	$	—

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 28, 2014
Equity [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss)	'
	Changes in the components of accumulated other comprehensive income, including the amounts reclassified out, for the first quarter of 2014 and 2013 are as follows:
		Gains and Losses
		On Cash Flow Hedges
	(Thousands)	Foreign Currency			Precious Metals			Total			Pension and Post Employment Benefits			Foreign Currency Translation			Total
	Accumulated other comprehensive income, as of December 31, 2013
	Gross	$	(87	)	$	(19	)	$	(106	)	$	(77,301	)	$	287		$	(77,120	)
	Deferred tax (benefit)	(1,433		)	(7		)	(1,440		)	(15,792		)	—			(17,232		)
	Net	$	1,346		$	(12	)	$	1,334		$	(61,509	)	$	287		$	(59,888	)
	First quarter 2014 activity:
	Other comprehensive income (loss) before reclassifications	(92		)	—			(92		)	14,034			589			14,531
	Amounts reclassified from accumulated other comprehensive income	83			19			102			1,209			—			1,311
	Net current period other comprehensive income (loss) before tax	(9		)	19			10			15,243			589			15,842
	Deferred taxes on current period activity	(4		)	7			3			5,860			—			5,863
	Net current period other comprehensive income (loss) after tax	(5		)	12			7			9,383			589			9,979
	Accumulated other comprehensive income, as of March 28, 2014
	Gross	(96		)	—			(96		)	(62,058		)	876			(61,278		)
	Deferred tax (benefit)	(1,437		)	—			(1,437		)	(9,932		)	—			(11,369		)
	Net	$	1,341		$	—		$	1,341		$	(52,126	)	$	876		$	(49,909	)
	Accumulated other comprehensive income, as of December 31, 2012
	Gross	$	253		$	97		$	350		$	(127,541	)	$	4,077		$	(123,114	)
	Deferred tax (benefit)	(1,314		)	34			(1,280		)	(33,405		)	—			(34,685		)
	Net	1,567			63			1,630			(94,136		)	4,077			(88,429		)
	First quarter 2013 activity
	Other comprehensive income (loss) before reclassifications	858			—			858			—			(2,754		)	(1,896		)
	Amounts reclassified from accumulated other comprehensive income	(142		)	(97		)	(239		)	1,876			—			1,637
	Net current period other comprehensive income (loss) before tax	716			(97		)	619			1,876			(2,754		)	(259		)
	Deferred taxes on current period activity	250			(34		)	216			657			—			873
	Net current period other comprehensive income (loss) after tax	466			(63		)	403			1,219			(2,754		)	(1,132		)
	Accumulated other comprehensive income, as of March 29, 2013
	Gross	969			—			969			(125,665		)	1,323			(123,373		)
	Deferred tax (benefit)	(1,064		)	—			(1,064		)	(32,748		)	—			(33,812		)
	Net	$	2,033		$	—		$	2,033		$	(92,917	)	$	1,323		$	(89,561	)

Inventories_Summary_of_Invento

Inventories - Summary of Inventories (Detail) (USD $)	Mar. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Principally average cost:	'	'
Raw materials and supplies	$42,235	$42,352
Work in process	211,520	203,107
Finished goods	52,022	45,503
Gross inventories	305,777	290,962
Excess of average cost over LIFO inventory value	78,816	77,570
Net inventories	$226,961	$213,392

Pensions_and_Other_Postemploym2

Pensions and Other Post-employment Benefits - Components of Net Periodic Benefit Cost (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Pension Benefits [Member]	'	'
Components of net periodic benefit cost	'	'
Service cost	$1,936	$2,356
Interest cost	2,444	2,353
Expected return on plan assets	-3,013	-2,996
Amortization of prior service cost (benefit)	-109	-86
Amortization of net loss	1,275	1,933
Net periodic benefit cost (benefit)	2,533	3,560
Other Benefits [Member]	'	'
Components of net periodic benefit cost	'	'
Service cost	34	76
Interest cost	169	311
Amortization of prior service cost (benefit)	-374	29
Net periodic benefit cost (benefit)	($171)	$416

Pensions_and_Other_Postemploym3

Pensions and Other Post-employment Benefits - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 28, 2014
Pension Benefits [Member]	'
Defined Benefit Plan Disclosure [Line Items]	'
Domestic defined benefit pension plan	$7.80
Other Benefits [Member]	'
Defined Benefit Plan Disclosure [Line Items]	'
Reduction in plan liability from changes in plan	$14

Contingencies_Additional_Infor

Contingencies - Additional Information (Detail) (USD $)	Mar. 28, 2014	Dec. 31, 2013	Jun. 27, 2014
In Millions, unless otherwise specified	LegalMatter		Subsequent Event [Member]
Loss Contingencies [Line Items]	'	'	'
Annual deductible to cover defense and indemnity costs incurred	$1	'	'
Number of CBD cases pending	2	'	'
Loss reserve on contingencies	0.2	'	'
Undiscounted reserve balance	4.8	4.8	'
Settlement of outstanding precious metal theft insurance claim	'	'	$6.80

Segment_Reporting_Detail

Segment Reporting (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	$258,929	$299,169	'
Intersegment sales	1,283	1,478	'
Operating profit (loss)	11,053	9,522	'
Assets	791,341	812,400	777,945
Subtotal [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	258,929	299,169	'
Intersegment sales	1,283	1,478	'
Operating profit (loss)	12,436	10,727	'
Assets	751,619	765,153	'
Advanced Material Technologies [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	163,197	193,853	'
Intersegment sales	497	748	'
Operating profit (loss)	7,604	3,351	'
Assets	318,561	334,325	'
Performance Alloys [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	66,685	74,522	'
Intersegment sales	519	430	'
Operating profit (loss)	3,548	7,236	'
Assets	266,977	272,245	'
Beryllium and Composites [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	15,497	12,322	'
Intersegment sales	147	70	'
Operating profit (loss)	1,102	-1,296	'
Assets	145,216	135,166	'
Technical Materials [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	13,550	18,472	'
Intersegment sales	120	230	'
Operating profit (loss)	182	1,436	'
Assets	20,865	23,417	'
All Other [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	0	0	'
Intersegment sales	0	0	'
Operating profit (loss)	-1,383	-1,205	'
Assets	$39,722	$47,247	'

Stockbased_Compensation_Expens1

Stock-based Compensation Expense - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Stock-based compensation expense	$1.40	$1.20
Stock Appreciation Rights [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number of SARs exercised	27	28
Performance Restricted Stock [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Stock appreciation rights to employees	25	'
Stock appreciation rights vested period	'3 years	'
Stock Options [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Total cash received from the exercise of stock options	$0.10	$0.60
Number of stock options	4	40

Othernet_Summary_of_OtherNet_E

Other-net - Summary of Other-Net Expense (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Other Income and Expenses [Abstract]	'	'
Foreign currency exchange/translation (loss) gain	($52)	$719
Amortization of intangible assets	-1,322	-1,292
Metal consignment fees	-1,866	-1,817
Net gain on disposal of fixed assets	2,637	33
Other items	240	-123
Total	($363)	($2,480)

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 28, 2014	Mar. 29, 2013
Income Tax Disclosure [Abstract]	'	'
Tax expense	$3,027,000	$1,909,000
Rate against income before income taxes	29.20%	22.00%
Discrete income tax charge	'	$600,000

Depreciation_and_Amortization_

Depreciation and Amortization - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 28, 2014	Mar. 29, 2013
Property, Plant and Equipment [Abstract]	'	'
Reimbursements	$63,500,000	'
Depreciation expense	1,200,000	'
Unearned income	1,200,000	'
Credit to cost of sales for reduction in unearned income	1,200,000	'
Depreciation, depletion and amortization depicted on Consolidated Statement of Cash Flows	12,131,000	8,572,000
Depreciation, depletion and amortization expense recorded in operating profit	$9,800,000	$9,800,000

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Summary of Fair Value Information and Derivative Financial Instruments (Detail) (USD $)	Mar. 28, 2014
In Thousands, unless otherwise specified
Financial Assets	'
Assets Fair Value Disclosure	$704
Financial Liabilities	'
Liabilities Fair Value Disclosure	800
Directors' deferred compensation investments [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	540
Financial Liabilities	'
Liabilities Fair Value Disclosure	540
Foreign currency forward contracts [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	164
Financial Liabilities	'
Liabilities Fair Value Disclosure	260
Fair Value, Inputs, Level 1 [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	540
Financial Liabilities	'
Liabilities Fair Value Disclosure	540
Fair Value, Inputs, Level 1 [Member] | Directors' deferred compensation investments [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	540
Financial Liabilities	'
Liabilities Fair Value Disclosure	540
Fair Value, Inputs, Level 2 [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	164
Financial Liabilities	'
Liabilities Fair Value Disclosure	260
Fair Value, Inputs, Level 2 [Member] | Foreign currency forward contracts [Member]	'
Financial Assets	'
Assets Fair Value Disclosure	164
Financial Liabilities	'
Liabilities Fair Value Disclosure	$260

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activity - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 28, 2014	Mar. 29, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Ineffective expense	$0	$0
Foreign exchange forward [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Notional value of foreign currency forward contracts	30,900,000	'
Fair value of contracts	200,000	'
Fair value of loss on euro contracts	300,000	'
Cash Flow Hedging [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Fair value of contracts	($100,000)	$1,000,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income - (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2014	Mar. 29, 2013
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	($77,120)	($123,114)
Deferred tax (benefit)	-17,232	-34,685
Net	-59,888	-88,429
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	14,531	-1,896
Amounts reclassified from accumulated other comprehensive income	1,311	1,637
Net current period other comprehensive income (loss) before tax	15,842	-259
Deferred taxes on current period activity	5,863	873
Net change in accumulated other comprehensive income	9,979	-1,132
Gross	-61,278	-123,373
Deferred tax (benefit)	-11,369	-33,812
Net	-49,909	-89,561
Gains and Losses On Cash Flow Hedges [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	-106	350
Deferred tax (benefit)	-1,440	-1,280
Net	1,334	1,630
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	-92	858
Amounts reclassified from accumulated other comprehensive income	102	-239
Net current period other comprehensive income (loss) before tax	10	619
Deferred taxes on current period activity	3	216
Net change in accumulated other comprehensive income	7	403
Gross	-96	969
Deferred tax (benefit)	-1,437	-1,064
Net	1,341	2,033
Pension and Post Employment Benefits [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	-77,301	-127,541
Deferred tax (benefit)	-15,792	-33,405
Net	-61,509	-94,136
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	14,034	0
Amounts reclassified from accumulated other comprehensive income	1,209	1,876
Net current period other comprehensive income (loss) before tax	15,243	1,876
Deferred taxes on current period activity	5,860	657
Net change in accumulated other comprehensive income	9,383	1,219
Gross	-62,058	-125,665
Deferred tax (benefit)	-9,932	-32,748
Net	-52,126	-92,917
Foreign Currency Translation [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	287	4,077
Deferred tax (benefit)	'	0
Net	287	4,077
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	589	-2,754
Amounts reclassified from accumulated other comprehensive income	0	0
Net current period other comprehensive income (loss) before tax	589	-2,754
Deferred taxes on current period activity	0	0
Net change in accumulated other comprehensive income	589	-2,754
Gross	876	1,323
Deferred tax (benefit)	0	0
Net	876	1,323
Foreign Currency [Member] | Gains and Losses On Cash Flow Hedges [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	-87	253
Deferred tax (benefit)	-1,433	-1,314
Net	1,346	1,567
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	-92	858
Amounts reclassified from accumulated other comprehensive income	83	-142
Net current period other comprehensive income (loss) before tax	-9	716
Deferred taxes on current period activity	-4	250
Net change in accumulated other comprehensive income	-5	466
Gross	-96	969
Deferred tax (benefit)	-1,437	-1,064
Net	1,341	2,033
Precious Metals [Member] | Gains and Losses On Cash Flow Hedges [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Rollward]	'	'
Gross	-19	97
Deferred tax (benefit)	-7	34
Net	-12	63
First Quarter Activity	'	'
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	19	-97
Net current period other comprehensive income (loss) before tax	19	-97
Deferred taxes on current period activity	7	-34
Net change in accumulated other comprehensive income	12	-63
Gross	0	0
Deferred tax (benefit)	0	0
Net	$0	$0