Materion (MTRN) 10-Q 1 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Apr. 03, 2015	Apr. 23, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MATERION Corp
Entity Central Index Key	1104657
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	3-Apr-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	MTRN
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		20,151,163

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Income Statement [Abstract]
Net sales	$290,024	$258,929
Cost of sales	237,669	213,467
Gross margin	52,355	45,462
Selling, general, and administrative expense	36,941	31,259
Research and development expense	3,348	2,787
Other—net	-2,158	363
Operating profit	14,224	11,053
Interest expense—net	657	695
Income before income taxes	13,567	10,358
Income tax expense (benefit)	3,938	3,027
Net income	$9,629	$7,331
Basic earnings per share:
Net income per share of common stock (in dollars per share)	$0.48	$0.36
Diluted earnings per share:
Net income per share of common stock (in dollars per share)	$0.47	$0.35
Cash dividends per share (in dollars per share)	$0.09	$0.08
Weighted-average number of shares of common stock outstanding:
Basic (in shares)	20,144	20,604
Diluted (in shares)	20,447	20,962

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Statement of Comprehensive Income [Abstract]
Net income	$9,629	$7,331
Other comprehensive income:
Foreign currency translation adjustment	-1,570	589
Derivative and hedging activity, net of tax	503	7
Pension and post-employment benefit adjustment, net of tax	902	9,383
Net change in accumulated other comprehensive income	-165	9,979
Comprehensive income	$9,464	$17,310

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Apr. 03, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$21,938	$13,150
Accounts receivable	117,126	112,780
Inventories	237,028	232,409
Prepaid expenses	17,161	14,953
Deferred income taxes	13,347	13,402
Total current assets	406,600	386,694
Long-term deferred income taxes	17,494	17,722
Property, plant, and equipment	813,806	800,671
Less allowances for depreciation, depletion, and amortization	-565,456	-553,083
Property, plant, and equipment—net	248,350	247,588
Intangible assets	17,109	18,559
Other assets	4,868	4,781
Goodwill	86,725	86,725
Total Assets	781,146	762,069
Current liabilities
Short-term debt	667	653
Accounts payable	38,054	36,239
Other liabilities and accrued items	41,171	59,151
Income taxes	4,222	3,144
Unearned revenue	10,389	4,879
Total current liabilities	94,503	104,066
Other long-term liabilities	17,853	18,203
Retirement and post-employment benefits	99,701	103,891
Unearned income	49,469	51,796
Long-term income taxes	1,750	1,750
Deferred income taxes	2,166	617
Long-term debt	50,787	23,613
Common stock	201,838	202,104
Retained earnings	484,198	476,277
Common stock in treasury	-141,717	-140,938
Other comprehensive income (loss)	-82,402	-82,237
Other equity transactions	3,000	2,927
Total shareholders' equity	464,917	458,133
Total Liabilities and Shareholders’ Equity	$781,146	$762,069

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Cash flows from operating activities:
Net income	$9,629	$7,331
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation, depletion, and amortization	11,909	12,131
Amortization of deferred financing costs in interest expense	148	178
Changes in assets and liabilities net of acquired assets and liabilities:
Decrease (increase) in accounts receivable	-5,467	-8,214
Decrease (increase) in inventory	-5,925	-13,363
Decrease (increase) in prepaid and other current assets	-2,480	153
Decrease (increase) in deferred income taxes	340	17
Increase (decrease) in accounts payable and accrued expenses	-18,494	-16,474
Increase (decrease) in unearned revenue	5,510	1,462
Increase (decrease) in interest and taxes payable	1,314	2,648
Increase (decrease) in long-term liabilities	-1,520	-7,671
Other-net	969	-1,409
Net cash (used in) operating activities	-4,067	-23,211
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	-7,196	-6,120
Payments for mine development	-3,748	-80
Proceeds from sale of property, plant, and equipment	0	3,009
Net cash (used in) investing activities	-10,944	-3,191
Cash flows from financing activities:
Proceeds from issuance (repayment) of short-term debt	13	4,119
Proceeds from issuance of long-term debt	41,103	30,086
Repayment of long-term debt	-13,929	-8,246
Principal payments under capital lease obligations	-230	-163
Cash dividends paid	-1,708	-1,648
Repurchase of common stock	-768	-1,466
Issuance of common stock under stock option plans	0	65
Tax benefit from stock compensation realization	0	13
Net cash provided from financing activities	24,481	22,760
Effects of exchange rate changes	-682	181
Net change in cash and cash equivalents	8,788	-3,461
Cash and cash equivalents at beginning of period	13,150	22,774
Cash and cash equivalents at end of period	$21,938	$19,313

Accounting_Policies

Accounting Policies	3 Months Ended
	Apr. 03, 2015
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies
	In management’s opinion, the accompanying consolidated financial statements of Materion Corporation and its subsidiaries (Company) contain all adjustments necessary to present fairly the financial position as of April 3, 2015 and December 31, 2014, and the results of operations for the first quarter ended April 3, 2015 and March 28, 2014. All adjustments were of a normal and recurring nature. Certain amounts in prior years have been reclassified to conform to the 2015 consolidated financial statement presentation.
	In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), Revenue from Contracts with Customers, which supersedes previous revenue recognition guidance. The new standard requires that a company recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Companies will need to use more judgment and estimates than under the guidance currently in effect, including estimating the amount of variable revenue to recognize over each identified performance obligation. Additional disclosures will be required to help users of financial statements understand the nature, amount, and timing of revenue and cash flows arising from contracts. This ASU is effective beginning in fiscal year 2017 and can be adopted either retrospectively or as a cumulative-effect adjustment as of the date of adoption. In April 2015, the FASB proposed to delay the effective date one year, beginning in fiscal year 2018. The proposal will be subject to the FASB's due process requirement, which includes a period for public comments. The Company is currently evaluating the impact of adopting this new guidance on the consolidated financial statements.

Inventories

Inventories	3 Months Ended
	Apr. 03, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories on the Consolidated Balance Sheets are summarized as follows:
		Apr. 3,		Dec. 31,
	(Thousands)	2015		2014
	Principally average cost:
	Raw materials and supplies	$	39,398	$	39,559
	Work in process	158,360		155,377
	Finished goods	39,270		37,473
	Net inventories	$	237,028	$	232,409
	The Company recognized a $1.1 million last-in, first-out (LIFO) liquidation benefit in the first quarter of 2015 due to a forecasted reduction in year-end copper inventory.

Pensions_and_Other_Postemploym

Pensions and Other Post-employment Benefits	3 Months Ended
	Apr. 03, 2015
Compensation and Retirement Disclosure [Abstract]
Pensions and Other Post-employment Benefits	Pensions and Other Post-employment Benefits
	The following is a summary of the net periodic benefit cost for the first quarter of 2015 and 2014 for the domestic pension plans (which include the defined benefit pension plan and the supplemental retirement plans) and the domestic retiree medical plan.
		Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
		Apr. 3,			Mar. 28,			Apr. 3,			Mar. 28,
	(Thousands)	2015			2014			2015			2014
	Components of net periodic benefit cost
	Service cost	$	2,230		$	1,936		$	29		$	34
	Interest cost	2,500			2,444			138			169
	Expected return on plan assets	(3,354		)	(3,013		)	—			—
	Amortization of prior service cost (benefit)	(112		)	(109		)	(374		)	(374		)
	Amortization of net loss	1,820			1,275			—			—
	Net periodic benefit cost (benefit)	$	3,084		$	2,533		$	(207	)	$	(171	)
	The Company made contributions to the domestic defined benefit pension plans of $4.0 million in the first quarter of 2015.
	In 2014, the Company amended 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 of 2014, with the offset increasing other comprehensive income, a component of shareholders' equity. The liability reduction will be recognized in earnings over the average remaining service life of participants.

Contingencies

Contingencies	3 Months Ended
	Apr. 03, 2015
Loss Contingency [Abstract]
Contingencies	Contingencies
	Materion Brush Inc., one of the Company's wholly owned subsidiaries, is a defendant from time to time in 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. There was one CBD case outstanding as of the end of the first quarter of 2015, and the Company does not expect the resolution of this matter to have a material impact on the consolidated financial statements.
	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 $5.0 million at April 3, 2015 and $4.9 million at December 31, 2014. Environmental projects tend to be long term, and the final actual remediation costs may differ from the amounts currently recorded.
	During the first quarter of 2015, the Company reached a $3.8 million settlement agreement on an insurance claim regarding construction of the Company's beryllium pebble facility located in Elmore, Ohio. The Company recognized this benefit in Other-net in the Consolidated Statement of Income. The cash was received by the Company subsequent to April 3, 2015.

Segment_Reporting

Segment Reporting	3 Months Ended
	Apr. 03, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting
							Other
	(Thousands)		Performance		Advanced Materials		Other (1)		Corporate (2)			Subtotal			Total
			Alloys and
			Composites
	First Quarter 2015
	Net sales		$	103,259	$	149,917	$	36,617	$	231		$	36,848		$	290,024
	Intersegment sales (3)		177		17,385		—		—			—			17,562
	Value-added sales		85,590		51,727		24,564		750			25,314			162,631
	Operating profit (loss)		6,803		8,903		1,675		(3,157		)	(1,482		)	14,224
	Assets		438,816		145,606		125,039		71,685			196,724			781,146
	First Quarter 2014
	Net sales		$	97,156	$	129,339	$	33,899	$	(1,465	)	$	32,434		$	258,929
	Intersegment sales (3)		232		11,087		—		—			—			11,319
	Value-added sales		80,024		41,670		23,919		(752		)	23,167			144,861
	Operating profit (loss)		6,209		5,145		4,123		(4,424		)	(301		)	11,053
	Assets		428,339		171,277		146,301		45,424			191,725			791,341
	(1)	The Other reportable segment includes the results of our Precision Optics and Large Area Coatings operating segments, which do not meet the quantitative thresholds for separate disclosure and are collectively referred to as our Precision Coatings group.
	(2)	Costs associated with our unallocated corporate functions have been shown separately to better illustrate the financial information for the businesses within the Other reportable segment.
	(3)	Intersegment sales are eliminated in consolidation.

Stockbased_Compensation_Expens

Stock-based Compensation Expense	3 Months Ended
	Apr. 03, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation Expense	Stock-based Compensation Expense
	Stock-based compensation expense was $3.1 million in the first quarter of 2015 and $2.1 million in the first quarter of 2014, which includes awards settled in shares and in cash.
	The Company granted approximately 160,000 stock appreciation rights (SARs) to certain employees in the first quarter of 2015 at a strike price of $36.81 per share. The fair value of the SARs, which was determined on the grant date using a Black-Scholes model, was $13.27 per share and will be amortized over the vesting period of three years. The SARs expire in seven years from the date of the grant. Exercises of SARs totaled approximately 41,000 in the first quarter of 2015 and 27,000 in the first quarter of 2014.
	The Company granted approximately 40,000 stock-settled restricted stock units (RSUs) in the first quarter of 2015. These shares will be amortized over a vesting period of three years using the closing price of Materion's common stock on the date of grant of $36.81. Additionally, approximately 21,000 cash-settled RSUs were granted to employees in the first quarter of 2015. Because these shares are settled in cash, the liability and related expense are adjusted based on the closing price of Materion’s common stock over the vesting period of three years.
	The Company granted approximately 77,000 stock-settled performance-based restricted stock units (PRSUs) to certain employees in the first quarter of 2015 at a weighted-average fair value of $33.31 per share. The fair value will be expensed over the vesting period of three years. In addition, approximately 39,000 cash-settled PRSUs were awarded to employees in the first quarter of 2015. The liability for cash-settled PRSUs is remeasured at fair value each reporting period, and the expense is recorded accordingly. The final payout to the employees for all PRSUs will be based upon the Company’s return on invested capital and the total return to shareholders over the vesting period relative to a peer group’s performance over the same period.

Othernet

Other-net	3 Months Ended
	Apr. 03, 2015
Other Income and Expenses [Abstract]
Other-net	Other-net
	Other-net (income) expense for the first quarter of 2015 and 2014 is summarized as follows:
		First Quarter Ended
		Apr. 3,			Mar. 28,
	(Thousands)	2015			2014
	Foreign currency exchange/translation (gain) loss	$	(1,584	)	$	52
	Amortization of intangible assets	1,256			1,322
	Metal consignment fees	2,035			1,866
	Net (gain) loss on disposal of fixed assets	74			(2,637		)
	Recovery from insurance	(3,800		)	—
	Other items	(139		)	(240		)
	Total	$	(2,158	)	$	363

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The Company recorded income tax expense of $3.9 million in the first quarter of 2015, an effective tax rate of 29.1% against income before income taxes, and an income tax expense of $3.0 million in the first quarter of 2014, an effective tax rate of 29.3% against income before income taxes.
	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, discrete events, and other factors.

Depreciation_and_Amortization

Depreciation and Amortization	3 Months Ended
	Apr. 03, 2015
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 of 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 three months ended April 3, 2015, the depreciation expense on the equipment subject to reimbursement was $2.3 million. Unearned income was reduced by $2.3 million, accordingly, with the offset recorded as a credit to cost of sales. Depreciation, depletion, and amortization expense on the Consolidated Statements of Cash Flows is shown net of the reduction in unearned income.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Apr. 03, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The Company measures and records financial instruments at fair value. 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 Sheet as of April 3, 2015:
				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	$	401	$	401	$	—	$	—
	Foreign currency forward contracts	4,275		—		4,275		—
	Total	$	4,676	$	401	$	4,275	$	—
	Financial Liabilities
	Directors’ deferred compensation liability	$	401	$	401	$	—	$	—
	Foreign currency forward contracts	20		—		20		—
	Total	$	421	$	401	$	20	$	—
	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 in the Consolidated Balance Sheet approximate fair values as of April 3, 2015.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activity	3 Months Ended
	Apr. 03, 2015
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 exposures and may also use derivatives to hedge a portion of its precious metal exposures. The objectives and strategies for using derivatives in these areas are as follows:
	Foreign Currency.    The Company sells a portion of its products to overseas customers in their local currencies, primarily the euro and yen. The Company secures 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 the dollar value of 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, hedge contracts 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 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 its 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. The price paid by the Company forms the basis for the price charged to the customer. This methodology allows for changes in either direction in the market prices of the precious metals used by the Company to be passed through to the customer and reduces the impact changes in prices could have on the Company's margins and operating profit. The consigned metal is owned by financial institutions who charge the Company a financing fee based upon the current value of the metal on hand.
	In certain instances, a customer may want to establish the price for the precious metal at the time the sales order is placed rather than at the time of shipment. Setting the sales 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 precious metal. The forward contract allows the Company to purchase metal at a fixed price on a specific future date. The price in the forward contract serves as the basis for the price to be charged to the customer. By doing so, the selling price and purchase price are matched, and the Company's 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 for a set period of time. The Company may then elect to enter into a hedge contract, either a forward contract or a swap, to fix the price for the estimated quantity of metal to be purchased, thereby reducing the exposure to adverse movements in the price of the metal.
	The Company may from time to time elect to purchase precious metal and hold in inventory rather than on consignment due to potential credit line limitations or other factors. These purchases are typically held for a short duration. A forward contract will be secured at the time of the purchase to fix the price to be used when the metal is transferred back to the consignment line, thereby limiting any price exposure during the time when the metal was owned.
	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 $34.4 million as of April 3, 2015. All of these contracts were designated and effective as cash flow hedges. The net fair value of the outstanding contracts was $4.3 million, with an asset recorded in prepaid expenses and other assets on the Consolidated Balance Sheet as of April 3, 2015.
	No ineffective expense was recorded in the first quarter of 2015 or 2014.
	Changes in the fair value of outstanding cash flow hedges recorded in OCI totaled $2.6 million at April 3, 2015 and $(0.1) million at March 28, 2014. The Company expects to relieve substantially the entire balance in OCI as of April 3, 2015 to income on the Consolidated Statements of Income during the twelve-month period beginning April 4, 2015. Refer to Note L for additional OCI details.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	3 Months Ended
	Apr. 03, 2015
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 2015 and 2014 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, 2014
	Gross	$	3,456		$	—		$	3,456		$	(109,080	)	$	(4,153	)	$	(109,777	)
	Deferred tax expense (benefit)	(122		)	—			(122		)	(27,418		)	—			(27,540		)
	Net	$	3,578		$	—		$	3,578		$	(81,662	)	$	(4,153	)	$	(82,237	)
	First quarter 2015 activity
	Other comprehensive income (loss) before reclassifications	$	2,636		$	—		$	2,636		$	14		$	(1,570	)	$	1,080
	Amounts reclassified from accumulated other comprehensive income	(1,837		)	—			(1,837		)	1,395			—			(442		)
	Net current period other comprehensive income (loss) before tax	799			—			799			1,409			(1,570		)	638
	Deferred taxes on current period activity	296			—			296			507			—			803
	Net current period other comprehensive income (loss) after tax	$	503		$	—		$	503		$	902		$	(1,570	)	$	(165	)
	Accumulated other comprehensive income, as of April 3, 2015
	Gross	$	4,255		$	—		$	4,255		$	(107,671	)	$	(5,723	)	$	(109,139	)
	Deferred tax expense (benefit)	174			—			174			(26,911		)	—			(26,737		)
	Net	$	4,081		$	—		$	4,081		$	(80,760	)	$	(5,723	)	$	(82,402	)
	Accumulated other comprehensive income, as of December 31, 2013
	Gross	$	(87	)	$	(19	)	$	(106	)	$	(77,301	)	$	287		$	(77,120	)
	Deferred tax expense (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 expense (benefit)	(1,437		)	—			(1,437		)	(9,932		)	—			(11,369		)
	Net	$	1,341		$	—		$	1,341		$	(52,126	)	$	876		$	(49,909	)
	Reclassifications from accumulated other comprehensive income of gains and losses on foreign currency cash flow hedges are recorded in Other-net in the Consolidated Statements of Income. Gains and losses on precious metal cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income in order to offset the impact of precious metal price movements in Cost of sales. The Company has no precious metal hedges as of April 3, 2015. Refer to Note K 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. Refer to Note C for additional details on pension and post-employment expenses.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Apr. 03, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories on the Consolidated Balance Sheets are summarized as follows:
		Apr. 3,		Dec. 31,
	(Thousands)	2015		2014
	Principally average cost:
	Raw materials and supplies	$	39,398	$	39,559
	Work in process	158,360		155,377
	Finished goods	39,270		37,473
	Net inventories	$	237,028	$	232,409

Pensions_and_Other_Postemploym1

Pensions and Other Post-employment Benefits (Tables)	3 Months Ended
	Apr. 03, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost	The following is a summary of the net periodic benefit cost for the first quarter of 2015 and 2014 for the domestic pension plans (which include the defined benefit pension plan and the supplemental retirement plans) and the domestic retiree medical plan.
		Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
		Apr. 3,			Mar. 28,			Apr. 3,			Mar. 28,
	(Thousands)	2015			2014			2015			2014
	Components of net periodic benefit cost
	Service cost	$	2,230		$	1,936		$	29		$	34
	Interest cost	2,500			2,444			138			169
	Expected return on plan assets	(3,354		)	(3,013		)	—			—
	Amortization of prior service cost (benefit)	(112		)	(109		)	(374		)	(374		)
	Amortization of net loss	1,820			1,275			—			—
	Net periodic benefit cost (benefit)	$	3,084		$	2,533		$	(207	)	$	(171	)

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Apr. 03, 2015
Segment Reporting [Abstract]
Segment Reporting
							Other
	(Thousands)		Performance		Advanced Materials		Other (1)		Corporate (2)			Subtotal			Total
			Alloys and
			Composites
	First Quarter 2015
	Net sales		$	103,259	$	149,917	$	36,617	$	231		$	36,848		$	290,024
	Intersegment sales (3)		177		17,385		—		—			—			17,562
	Value-added sales		85,590		51,727		24,564		750			25,314			162,631
	Operating profit (loss)		6,803		8,903		1,675		(3,157		)	(1,482		)	14,224
	Assets		438,816		145,606		125,039		71,685			196,724			781,146
	First Quarter 2014
	Net sales		$	97,156	$	129,339	$	33,899	$	(1,465	)	$	32,434		$	258,929
	Intersegment sales (3)		232		11,087		—		—			—			11,319
	Value-added sales		80,024		41,670		23,919		(752		)	23,167			144,861
	Operating profit (loss)		6,209		5,145		4,123		(4,424		)	(301		)	11,053
	Assets		428,339		171,277		146,301		45,424			191,725			791,341
	(1)	The Other reportable segment includes the results of our Precision Optics and Large Area Coatings operating segments, which do not meet the quantitative thresholds for separate disclosure and are collectively referred to as our Precision Coatings group.
	(2)	Costs associated with our unallocated corporate functions have been shown separately to better illustrate the financial information for the businesses within the Other reportable segment.
	(3)	Intersegment sales are eliminated in consolidation.

Othernet_Tables

Other-net (Tables)	3 Months Ended
	Apr. 03, 2015
Other Income and Expenses [Abstract]
Summary of Other-Net Expense	Other-net (income) expense for the first quarter of 2015 and 2014 is summarized as follows:
		First Quarter Ended
		Apr. 3,			Mar. 28,
	(Thousands)	2015			2014
	Foreign currency exchange/translation (gain) loss	$	(1,584	)	$	52
	Amortization of intangible assets	1,256			1,322
	Metal consignment fees	2,035			1,866
	Net (gain) loss on disposal of fixed assets	74			(2,637		)
	Recovery from insurance	(3,800		)	—
	Other items	(139		)	(240		)
	Total	$	(2,158	)	$	363

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Apr. 03, 2015
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 Sheet as of April 3, 2015:
				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	$	401	$	401	$	—	$	—
	Foreign currency forward contracts	4,275		—		4,275		—
	Total	$	4,676	$	401	$	4,275	$	—
	Financial Liabilities
	Directors’ deferred compensation liability	$	401	$	401	$	—	$	—
	Foreign currency forward contracts	20		—		20		—
	Total	$	421	$	401	$	20	$	—

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 03, 2015
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 2015 and 2014 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, 2014
	Gross	$	3,456		$	—		$	3,456		$	(109,080	)	$	(4,153	)	$	(109,777	)
	Deferred tax expense (benefit)	(122		)	—			(122		)	(27,418		)	—			(27,540		)
	Net	$	3,578		$	—		$	3,578		$	(81,662	)	$	(4,153	)	$	(82,237	)
	First quarter 2015 activity
	Other comprehensive income (loss) before reclassifications	$	2,636		$	—		$	2,636		$	14		$	(1,570	)	$	1,080
	Amounts reclassified from accumulated other comprehensive income	(1,837		)	—			(1,837		)	1,395			—			(442		)
	Net current period other comprehensive income (loss) before tax	799			—			799			1,409			(1,570		)	638
	Deferred taxes on current period activity	296			—			296			507			—			803
	Net current period other comprehensive income (loss) after tax	$	503		$	—		$	503		$	902		$	(1,570	)	$	(165	)
	Accumulated other comprehensive income, as of April 3, 2015
	Gross	$	4,255		$	—		$	4,255		$	(107,671	)	$	(5,723	)	$	(109,139	)
	Deferred tax expense (benefit)	174			—			174			(26,911		)	—			(26,737		)
	Net	$	4,081		$	—		$	4,081		$	(80,760	)	$	(5,723	)	$	(82,402	)
	Accumulated other comprehensive income, as of December 31, 2013
	Gross	$	(87	)	$	(19	)	$	(106	)	$	(77,301	)	$	287		$	(77,120	)
	Deferred tax expense (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 expense (benefit)	(1,437		)	—			(1,437		)	(9,932		)	—			(11,369		)
	Net	$	1,341		$	—		$	1,341		$	(52,126	)	$	876		$	(49,909	)

Inventories_Summary_of_Invento

Inventories - Summary of Inventories (Detail) (USD $)	Apr. 03, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Principally average cost:
Raw materials and supplies	$39,398	$39,559
Work in process	158,360	155,377
Finished goods	39,270	37,473
Net inventories	$237,028	$232,409

Inventories_Narrative_Details

Inventories - Narrative (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015
Inventory Disclosure [Abstract]
LIFO liquidation benefit	$1.10

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	Apr. 03, 2015	Mar. 28, 2014
Pension Benefits [Member]
Components of net periodic benefit cost
Service cost	$2,230	$1,936
Interest cost	2,500	2,444
Expected return on plan assets	-3,354	-3,013
Amortization of prior service cost (benefit)	-112	-109
Amortization of net loss	1,820	1,275
Net periodic benefit cost (benefit)	3,084	2,533
Other Benefits [Member]
Components of net periodic benefit cost
Service cost	29	34
Interest cost	138	169
Expected return on plan assets	0	0
Amortization of prior service cost (benefit)	-374	-374
Amortization of net loss	0	0
Net periodic benefit cost (benefit)	($207)	($171)

Pensions_and_Other_Postemploym3

Pensions and Other Post-employment Benefits - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Domestic defined benefit pension plan	$4
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 $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014
Loss Contingency [Abstract]
Annual deductible to cover defense and indemnity costs incurred	$1
Undiscounted reserve balance	5	4.9
Cash received from settlement agreement	$3.80

Segment_Reporting_Detail

Segment Reporting (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$290,024	$258,929
Intersegment sales	17,562	11,319
Value-added sales	162,631	144,861
Operating profit (loss)	14,224	11,053
Assets	781,146	791,341	762,069
Performance Alloys and Composites [Member]
Segment Reporting Information [Line Items]
Net sales	103,259	97,156
Intersegment sales	177	232
Value-added sales	85,590	80,024
Operating profit (loss)	6,803	6,209
Assets	438,816	428,339
Advanced Materials [Member]
Segment Reporting Information [Line Items]
Net sales	149,917	129,339
Intersegment sales	17,385	11,087
Value-added sales	51,727	41,670
Operating profit (loss)	8,903	5,145
Assets	145,606	171,277
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net sales	36,848	32,434
Intersegment sales	0	0
Value-added sales	25,314	23,167
Operating profit (loss)	-1,482	-301
Assets	196,724	191,725
All Other [Member]
Segment Reporting Information [Line Items]
Net sales	36,617	33,899
Intersegment sales	0	0
Value-added sales	24,564	23,919
Operating profit (loss)	1,675	4,123
Assets	125,039	146,301
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Net sales	231	-1,465
Intersegment sales	0	0
Value-added sales	750	-752
Operating profit (loss)	-3,157	-4,424
Assets	$71,685	$45,424

Stockbased_Compensation_Expens1

Stock-based Compensation Expense - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$3.10	$2.10
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights to employees	160
Strike price of units	$36.81
Fair value grant date per unit	$13.27
Stock appreciation rights vested period	3 years
Expiration term of units	7 years
Number of SARs exercised	41	27
Stock Settled Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights to employees	40
Stock appreciation rights vested period	3 years
Fair value grant date per unit	$36.81
Cash Settled Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights to employees	21
Stock appreciation rights vested period	3 years
Performance Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights to employees	77
Fair value grant date per unit	$33.31
Stock appreciation rights vested period	3 years
Cash Settled Performance Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights to employees	39

Othernet_Summary_of_OtherNet_E

Other-net - Summary of Other-Net Expense (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Other Income and Expenses [Abstract]
Foreign currency exchange/translation (gain) loss	($1,584)	$52
Amortization of intangible assets	1,256	1,322
Metal consignment fees	2,035	1,866
Net (gain) loss on disposal of fixed assets	74	-2,637
Recovery from insurance	-3,800	0
Other items	-139	-240
Total	($2,158)	$363

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014
Income Tax Disclosure [Abstract]
Tax expense (benefit)	$3,938	$3,027
Rate against income before income taxes	29.10%	-29.30%

Depreciation_and_Amortization_

Depreciation and Amortization - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 03, 2015
Property, Plant and Equipment [Abstract]
Reimbursements	$63.50
Depreciation expense	2.3
Unearned income	$2.30

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Summary of Fair Value Information and Derivative Financial Instruments (Detail) (USD $)	Apr. 03, 2015
In Thousands, unless otherwise specified
Financial Assets
Assets Fair Value Disclosure	$4,676
Financial Liabilities
Liabilities Fair Value Disclosure	421
Directors' deferred compensation investments [Member]
Financial Assets
Assets Fair Value Disclosure	401
Financial Liabilities
Liabilities Fair Value Disclosure	401
Foreign currency forward contracts [Member]
Financial Assets
Assets Fair Value Disclosure	4,275
Financial Liabilities
Liabilities Fair Value Disclosure	20
Fair Value, Inputs, Level 1 [Member]
Financial Assets
Assets Fair Value Disclosure	401
Financial Liabilities
Liabilities Fair Value Disclosure	401
Fair Value, Inputs, Level 1 [Member] | Directors' deferred compensation investments [Member]
Financial Assets
Assets Fair Value Disclosure	401
Financial Liabilities
Liabilities Fair Value Disclosure	401
Fair Value, Inputs, Level 1 [Member] | Foreign currency forward contracts [Member]
Financial Assets
Assets Fair Value Disclosure	0
Financial Liabilities
Liabilities Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member]
Financial Assets
Assets Fair Value Disclosure	4,275
Financial Liabilities
Liabilities Fair Value Disclosure	20
Fair Value, Inputs, Level 2 [Member] | Directors' deferred compensation investments [Member]
Financial Assets
Assets Fair Value Disclosure	0
Financial Liabilities
Liabilities Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member] | Foreign currency forward contracts [Member]
Financial Assets
Assets Fair Value Disclosure	4,275
Financial Liabilities
Liabilities Fair Value Disclosure	20
Fair Value, Inputs, Level 3 [Member]
Financial Assets
Assets Fair Value Disclosure	0
Financial Liabilities
Liabilities Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | Directors' deferred compensation investments [Member]
Financial Assets
Assets Fair Value Disclosure	0
Financial Liabilities
Liabilities Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | Foreign currency forward contracts [Member]
Financial Assets
Assets Fair Value Disclosure	0
Financial Liabilities
Liabilities Fair Value Disclosure	$0

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activity - Additional Information (Detail) (USD $)	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Ineffective expense	$0	$0
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of contracts	2,600,000	-100,000
Foreign exchange forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of foreign currency forward contracts	34,400,000
Fair value of contracts	$4,300,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income - (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 03, 2015	Mar. 28, 2014	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	($109,139)	($61,278)	($109,777)	($77,120)
Deferred tax expense (benefit)	-26,737	-11,369	-27,540	-17,232
Net	-82,402	-49,909	-82,237	-59,888
Activity
Other comprehensive income (loss) before reclassifications	1,080	14,531
Amounts reclassified from accumulated other comprehensive income	-442	1,311
Net current period other comprehensive income (loss) before tax	638	15,842
Deferred taxes on current period activity	803	5,863
Net change in accumulated other comprehensive income	-165	9,979
Gains and Losses On Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	4,255	-96	3,456	-106
Deferred tax expense (benefit)	174	-1,437	-122	-1,440
Net	4,081	1,341	3,578	1,334
Activity
Other comprehensive income (loss) before reclassifications	2,636	-92
Amounts reclassified from accumulated other comprehensive income	-1,837	102
Net current period other comprehensive income (loss) before tax	799	10
Deferred taxes on current period activity	296	3
Net change in accumulated other comprehensive income	503	7
Pension and Post Employment Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	-107,671	-62,058	-109,080	-77,301
Deferred tax expense (benefit)	-26,911	-9,932	-27,418	-15,792
Net	-80,760	-52,126	-81,662	-61,509
Activity
Other comprehensive income (loss) before reclassifications	14	14,034
Amounts reclassified from accumulated other comprehensive income	1,395	1,209
Net current period other comprehensive income (loss) before tax	1,409	15,243
Deferred taxes on current period activity	507	5,860
Net change in accumulated other comprehensive income	902	9,383
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	-5,723	876	-4,153	287
Deferred tax expense (benefit)	0	0	0	0
Net	-5,723	876	-4,153	287
Activity
Other comprehensive income (loss) before reclassifications	-1,570	589
Amounts reclassified from accumulated other comprehensive income	0	0
Net current period other comprehensive income (loss) before tax	-1,570	589
Deferred taxes on current period activity	0	0
Net change in accumulated other comprehensive income	-1,570	589
Foreign Currency [Member] | Gains and Losses On Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	4,255	-96	3,456	-87
Deferred tax expense (benefit)	174	-1,437	-122	-1,433
Net	4,081	1,341	3,578	1,346
Activity
Other comprehensive income (loss) before reclassifications	2,636	-92
Amounts reclassified from accumulated other comprehensive income	-1,837	83
Net current period other comprehensive income (loss) before tax	799	-9
Deferred taxes on current period activity	296	-4
Net change in accumulated other comprehensive income	503	-5
Precious Metals [Member] | Gains and Losses On Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Gross	0	0	0	-19
Deferred tax expense (benefit)	0	0	0	-7
Net	0	0	0	-12
Activity
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	0	19
Net current period other comprehensive income (loss) before tax	0	19
Deferred taxes on current period activity	0	7
Net change in accumulated other comprehensive income	$0	$12