Materion (MTRN) 10-Q 24 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 27, 2019shares
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2019
Document Transition Report	false
Entity File Number	001-15885
Entity Registrant Name	MATERION CORPORATION
Local Phone Number	486-4200
Title of 12(b) Security	Common Stock, no par value
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-1919973
Entity Address, Address Line One	6070 Parkland Blvd
Entity Address, City or Town	Mayfield Heights
Entity Address, State or Province	OH
City Area Code	216
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Address, Postal Zip Code	44124
Entity Central Index Key	0001104657
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	MTRN
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding	20,402,976
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Income Statement [Abstract]
Net sales	$ 305,979	$ 297,193	$ 905,263	$ 909,745
Cost of sales	241,034	232,258	701,412	724,692
Gross margin	64,945	64,935	203,851	185,053
Selling, general, and administrative expense	36,311	38,872	116,266	115,807
Research and development expense	5,262	4,250	13,064	11,753
Goodwill impairment charges	11,560	0	11,560	0
Asset impairment charges	2,581	0	2,581	0
Other - net	2,942	3,147	9,954	10,384
Operating profit	6,289	18,666	50,426	47,109
Interest expense—net	436	613	1,402	2,010
Other non-operating expense - net	127	800	3,484	1,679
Income before income taxes	5,726	17,253	45,540	43,420
Income tax expense (benefit)	2,263	(2,713)	9,631	1,746
Net income	$ 3,463	$ 19,966	$ 35,909	$ 41,674
Basic earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.17	$ 0.99	$ 1.76	$ 2.06
Diluted earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.17	$ 0.97	$ 1.74	$ 2.02
Weighted-average number of shares of common stock outstanding:
Basic (in shares)	20,401	20,241	20,351	20,199
Diluted (in shares)	20,677	20,648	20,645	20,607

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 3,463	$ 19,966	$ 35,909	$ 41,674
Other comprehensive income (loss):
Foreign currency translation adjustment	(463)	116	(627)	285
Derivative and hedging activity, net of tax	82	125	9	1,213
Pension and post-employment benefit adjustment, net of tax	501	1,507	14,994	4,081
Net current period other comprehensive income (loss) after tax	120	1,748	14,376	5,579
Comprehensive income	$ 3,583	$ 21,714	$ 50,285	$ 47,253

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 94,526	$ 70,645
Accounts receivable	165,477	130,538
Inventories, net	191,956	214,871
Prepaid and other current assets	23,658	23,299
Total current assets	475,617	439,353
Deferred income taxes	1,848	5,616
Property, Plant and Equipment	909,254	898,251
Less allowances for depreciation, depletion, and amortization	(675,039)	(647,233)
Property, plant, and equipment—net	234,215	251,018
Operating lease, right-of-use asset	25,054	0
Intangible assets	6,692	6,461
Other assets	17,452	7,236
Goodwill	78,961	90,657
Total Assets	839,839	800,341
Current liabilities
Short-term debt	857	823
Accounts payable	43,675	49,622
Salaries and wages	40,069	47,501
Other liabilities and accrued items	35,549	33,301
Income taxes	1,637	2,615
Unearned revenue	5,188	5,918
Total current liabilities	126,975	139,780
Other long-term liabilities	11,021	14,764
Operating lease liabilities	19,453	0
Finance lease liabilities	17,535	15,221
Retirement and post-employment benefits	31,026	38,853
Unearned income	29,270	32,563
Long-term income taxes	3,121	2,993
Deferred income taxes	2,175	195
Long-term debt	1,467	2,066
Serial preferred stock (no par value; 5,000 authorized shares, none issued)	0	0
Common stock (no par value; 60,000 authorized shares, issued shares of 27,148 at September 27 and December 31)	247,651	234,704
Retained earnings	577,409	548,374
Common stock in treasury	(187,464)	(175,426)
Accumulated other comprehensive loss	(43,858)	(58,234)
Other equity	4,058	4,488
Total shareholders' equity	597,796	553,906
Total Liabilities and Shareholders’ Equity	$ 839,839	$ 800,341

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands, $ / shares in Thousands	Sep. 27, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Serial preferred stock, par value (in dollars per share)	$ 0	$ 0
Serial preferred stock, shares authorized	5,000	5,000
Serial preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	60,000	60,000
Common stock, shares, issued	27,148	27,148

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018
Cash flows from operating activities:
Net income	$ 35,909	$ 41,674
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, depletion, and amortization	31,955	26,506
Amortization of deferred financing costs in interest expense	720	720
Stock-based compensation expense (non-cash)	5,230	3,782
Deferred income tax expense (benefit)	5,725	(5,341)
Impairment charges	14,141	0
Net curtailment/settlements	3,296	359
Changes in assets and liabilities:
Decrease (increase) in accounts receivable	(36,146)	(10,274)
Decrease (increase) in inventory	22,089	19,754
Decrease (increase) in prepaid and other current assets	(416)	4,648
Increase (decrease) in accounts payable and accrued expenses	(14,114)	(10,290)
Increase (decrease) in unearned revenue	(728)	2,365
Increase (decrease) in interest and taxes payable	(1,499)	5,557
Domestic pension plan contributions	(4,500)	(38,000)
Other-net	(2,126)	7,783
Net cash used in operating activities	59,536	49,243
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(18,193)	(21,809)
Payments for mine development	(1,903)	(5,192)
Proceeds from sale of property, plant, and equipment	17	26
Net cash used in investing activities	(20,079)	(26,975)
Cash flows from financing activities:
Repayment of long-term debt	(599)	(513)
Principal payments under finance lease obligations	894	573
Cash dividends paid	(6,612)	(6,262)
Repurchase of common stock	(199)	0
Payments of withholding taxes for stock-based compensation awards	(4,832)	(3,006)
Deferred financing costs	(2,018)	0
Net cash used in financing activities	(15,154)	(10,354)
Effects of exchange rate changes	(422)	(146)
Net change in cash and cash equivalents	23,881	11,768
Cash and cash equivalents at beginning of period	70,645	41,844
Cash and cash equivalents at end of period	$ 94,526	$ 53,612

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Common Shares Held In Treasury	Common Stock	Retained Earnings	Common Stock In Treasury	Accumulated Other Comprehensive Income (Loss)	Other Equity
Beginning balance (in shares) at Dec. 31, 2017		20,107
Beginning balances (in Treasury shares) at Dec. 31, 2017			(7,042)
Beginning balances at Dec. 31, 2017	$ 494,981			$ 223,484	$ 536,116	$ (166,128)	$ (102,937)	$ 4,446
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,674			0	41,674	0	0	0
Other comprehensive income (loss)	4,645			0	0	0	4,645	0
Net curtailment/settlements	359			0	0	0	359	0
Tax Cuts and Jobs Act of 2017 Reclassification From Aoci to Retained Earnings	0			0	(575)	0	575	0
Cumulative effect of accounting change	425			0	425	0	0	0
Cash dividends declared	(6,262)			0	(6,262)	0	0	0
Stock-based compensation activity (in shares)		192	193
Stock-based compensation activity	3,782			9,294	(28)	(5,484)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(58)	(58)
Payments of withholding taxes for stock-based compensation awards	(3,006)			0	0	(3,006)	0	0
Directors' deferred compensation	145	$ 3	$ 3	68	0	86	0	(9)
Ending balance (in shares) at Sep. 28, 2018		20,244
Ending balances (in Treasury shares) at Sep. 28, 2018			(6,904)
Ending balances at Sep. 28, 2018	536,743			232,846	571,350	(174,532)	(97,358)	4,437
Beginning balance (in shares) at Jun. 29, 2018		20,236
Beginning balances (in Treasury shares) at Jun. 29, 2018			(6,912)
Beginning balances at Jun. 29, 2018	515,741			230,763	553,523	(173,825)	(99,106)	4,386
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,966			0	19,966	0	0	0
Other comprehensive income (loss)	1,389			0	0	0	1,389	0
Net curtailment/settlements	359			0	0	0	359	0
Cash dividends declared	(2,125)			0	(2,125)	0	0	0
Stock-based compensation activity (in shares)		11	12
Stock-based compensation activity	1,618			2,074	(14)	(442)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(5)	(5)
Payments of withholding taxes for stock-based compensation awards	(241)			0	0	(241)	0	0
Directors' deferred compensation	36	$ 2	$ 1	9	0	(24)	0	51
Ending balance (in shares) at Sep. 28, 2018		20,244
Ending balances (in Treasury shares) at Sep. 28, 2018			(6,904)
Ending balances at Sep. 28, 2018	536,743			232,846	571,350	(174,532)	(97,358)	4,437
Beginning balance (in shares) at Dec. 31, 2018		20,242
Beginning balances (in Treasury shares) at Dec. 31, 2018			(6,906)
Beginning balances at Dec. 31, 2018	553,906			234,704	548,374	(175,426)	(58,234)	4,488
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	35,909			0	35,909	0	0	0
Other comprehensive income (loss)	11,080			0	0	0	11,080	0
Net curtailment/settlements	3,296			0	0	0	3,296	0
Cumulative effect of accounting change	(179)			0	(179)	0	0	0
Cash dividends declared	(6,612)			0	(6,612)	0	0	0
Stock-based compensation activity (in shares)		252	252
Stock-based compensation activity	5,230			12,882	(83)	(7,569)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(89)	(89)
Payments of withholding taxes for stock-based compensation awards	(4,832)			0	0	(4,832)	0	0
Repurchase of shares (in shares)		(5)	(5)
Repurchase of shares	(199)			0	0	(199)	0	0
Directors' deferred compensation	197	$ 3	$ 3	65	0	562	0	(430)
Ending balance (in shares) at Sep. 27, 2019		20,403
Ending balances (in Treasury shares) at Sep. 27, 2019			(6,745)
Ending balances at Sep. 27, 2019	597,796			247,651	577,409	(187,464)	(43,858)	4,058
Beginning balance (in shares) at Jun. 28, 2019		20,399
Beginning balances (in Treasury shares) at Jun. 28, 2019			(6,749)
Beginning balances at Jun. 28, 2019	594,785			245,785	576,211	(187,224)	(43,978)	3,991
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,463			0	3,463	0	0	0
Other comprehensive income (loss)	120			0	0	0	120	0
Cash dividends declared	(2,244)			0	(2,244)	0	0	0
Stock-based compensation activity (in shares)		5	5
Stock-based compensation activity	1,689			1,836	(21)	(126)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(2)	(2)
Payments of withholding taxes for stock-based compensation awards	(69)			0	0	(69)	0	0
Directors' deferred compensation	52	$ 1	$ 1	30	0	(45)	0	67
Ending balance (in shares) at Sep. 27, 2019		20,403
Ending balances (in Treasury shares) at Sep. 27, 2019			(6,745)
Ending balances at Sep. 27, 2019	$ 597,796			$ 247,651	$ 577,409	$ (187,464)	$ (43,858)	$ 4,058

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (per share)	$ 0.110	$ 0.105	$ 0.325	$ 0.310

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 27, 2019
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation: In management’s opinion, the accompanying consolidated financial statements of Materion Corporation and its subsidiaries (referred to herein as the Company, our, we, or us) contain all of the adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods reported. All adjustments were of a normal and recurring nature. Certain amounts in prior periods have been reclassified to conform to the 2019 consolidated financial statement presentation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's 2018 Annual Report on Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year. New Pronouncements Adopted: In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 (Topic 842), Leases , which eliminates the off-balance-sheet accounting for leases. This guidance requires lessees to report their operating leases as both an asset and liability on the balance sheet and disclose key information about leasing arrangements. The Company adopted this guidance as of January 1, 2019 using the modified retrospective method and applied it retrospectively through a cumulative-effect adjustment to retained earnings. The Company applied the transitional package of practical expedients allowed by the standard to not reassess the identification, classification, and initial direct costs of leases commencing before this ASU's effective date; however, the Company did not elect the hindsight transitional practical expedient. The Company also applied the practical expedient to not separate lease and non-lease components to new leases as well as existing leases through transition. The Company made an accounting policy election not to apply recognition requirements of the guidance to short-term leases. Results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with legacy generally accepted accounting principles. The Company recorded a net reduction to opening retained earnings of $0.2 million as of January 1, 2019 due to the cumulative impact of adopting Topic 842, with the impact primarily related to derecognition of a built-to-suit lease. Refer to Note J for additional disclosures relating to the Company's leasing arrangements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which intended to simplify the subsequent measurement of goodwill. This ASU eliminates the requirement for an entity to calculate the implied fair value of goodwill in measuring an impairment charge. Instead, an entity will perform its annual, or interim, goodwill impairment testing by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount by which the carrying amount exceeds the fair value. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company's consolidated financial statements. Refer to Note F for additional disclosures related to goodwill. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which amends and simplifies existing guidance to allow companies to more accurately present the economic effects of risk management activities in the financial statements. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company’s consolidated financial statements. New Pronouncements Issued: In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . This ASU requires an entity to change its accounting approach in determining impairment of certain financial instruments, including trade receivables, from an “incurred loss” to a “current expected credit loss” model. The standard will be effective for fiscal years beginning after December 15, 2019, including interim periods within such fiscal years. Early adoption is permitted. The Company is currently assessing the effect that this ASU will have on its financial position, results of operations, and disclosures.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 27, 2019
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company has the following reportable segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other. The Company’s reportable segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Executive Officer, the Company's Chief Operating Decision Maker, in determining how to allocate the Company’s resources and evaluate performance. Performance Alloys and Composites produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass materials. Advanced Materials produces advanced chemicals, microelectric packaging, precious metal, non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal preforms, high temperature braze materials, and ultra-fine wire. Precision Coatings produces thin film coatings, optical filter materials, sputter-coated, and precision-converted thin film materials. The Other reportable segment includes unallocated corporate costs and assets. (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Third Quarter 2019 Net sales $ 130,704 $ 147,650 $ 27,625 $ — $ 305,979 Intersegment sales — 17,161 — — 17,161 Operating profit (loss) 18,780 6,202 (11,198 ) (7,495 ) 6,289 Third Quarter 2018 Net sales $ 124,103 $ 144,072 $ 29,018 $ — $ 297,193 Intersegment sales 2 13,265 — — 13,267 Operating profit (loss) 16,728 6,882 3,499 (8,443 ) 18,666 First Nine Months 2019 Net sales $ 393,048 $ 424,913 $ 87,302 $ — $ 905,263 Intersegment sales 15 53,634 — — 53,649 Operating profit (loss) 57,066 19,421 (5,184 ) (20,877 ) 50,426 First Nine Months 2018 Net sales $ 372,104 $ 447,941 $ 89,700 $ — $ 909,745 Intersegment sales 33 36,317 — — 36,350 Operating profit (loss) 38,898 18,352 9,107 (19,248 ) 47,109 The following table disaggregates revenue for each segment by end market for the third quarter and first nine months of 2019 and 2018, respectively: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Third Quarter 2019 End Market Semiconductor $ 1,220 $ 107,883 $ — $ — $ 109,103 Industrial 28,353 8,302 3,365 — 40,020 Aerospace and Defense 27,653 1,779 5,303 — 34,735 Consumer Electronics 18,399 395 5,613 — 24,407 Automotive 16,071 3,012 296 — 19,379 Energy 10,629 20,911 — — 31,540 Telecom and Data Center 14,964 835 — — 15,799 Other 13,415 4,533 13,048 — 30,996 Total $ 130,704 $ 147,650 $ 27,625 $ — $ 305,979 Third Quarter 2018 End Market Semiconductor $ 1,381 $ 104,806 $ 269 $ — $ 106,456 Industrial 26,812 9,269 3,338 — 39,419 Aerospace and Defense 19,840 910 5,203 — 25,953 Consumer Electronics 14,964 149 4,730 — 19,843 Automotive 25,292 1,707 398 — 27,397 Energy 12,395 19,338 — — 31,733 Telecom and Data Center 17,530 951 — — 18,481 Other 5,889 6,942 15,080 — 27,911 Total $ 124,103 $ 144,072 $ 29,018 $ — $ 297,193 (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total First Nine Months 2019 End Market Semiconductor $ 4,489 $ 314,607 $ 205 $ — $ 319,301 Industrial 83,368 23,934 11,358 — 118,660 Aerospace and Defense 80,774 4,397 14,924 — 100,095 Consumer Electronics 54,617 1,100 13,530 — 69,247 Automotive 53,348 6,035 882 — 60,265 Energy 33,026 59,136 — — 92,162 Telecom and Data Center 50,800 1,749 — — 52,549 Other 32,626 13,955 46,403 — 92,984 Total $ 393,048 $ 424,913 $ 87,302 $ — $ 905,263 First Nine Months 2018 End Market Semiconductor $ 3,768 $ 333,797 $ 1,240 $ — $ 338,805 Industrial 85,389 25,002 9,237 — 119,628 Aerospace and Defense 64,086 2,912 14,847 — 81,845 Consumer Electronics 46,419 775 14,021 — 61,215 Automotive 72,065 5,890 1,089 — 79,044 Energy 30,007 53,045 — — 83,052 Telecom and Data Center 50,177 1,982 — — 52,159 Other 20,193 24,538 49,266 — 93,997 Total $ 372,104 $ 447,941 $ 89,700 $ — $ 909,745 Intersegment sales are eliminated in consolidation.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 27, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition Net sales consist primarily of revenue from the sale of precious and non-precious specialty metals, beryllium and copper-based alloys, beryllium composites, and other products into numerous end markets. The Company requires an agreement with a customer that creates enforceable rights and performance obligations. The Company generally recognizes revenue, in an amount that reflects the consideration to which it expects to be entitled, upon satisfaction of a performance obligation, by transferring control over a product to the customer. Control over the product is generally transferred to the customer when the Company has a present right to payment, the customer has legal title, the customer has physical possession, the customer has the significant risks and rewards of ownership, and/or the customer has accepted the product. Transaction Price Allocated to Future Performance Obligations: Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied at September 27, 2019. Remaining performance obligations include non-cancelable purchase orders and customer contracts. The guidance provides certain practical expedients that limit this requirement. As such, the Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. After considering the practical expedient at September 27, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $21.6 million . Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) September 27, 2019 December 31, 2018 $ change % change Accounts receivable, trade $ 149,957 $ 124,498 $ 25,459 20 % Unbilled receivables 16,206 4,619 11,587 251 % Unearned revenue 5,188 5,918 (730 ) (12 )% Accounts receivable, trade represents payments due from customers relating to the transfer of the Company’s products and services. The Company believes that its receivables are collectible and appropriate allowances for doubtful accounts have been recorded. Impairment losses (bad debt) incurred relating to our receivables were immaterial during the third quarter and first nine months of 2019. Unbilled receivables represent expenditures on contracts, plus applicable profit margin, not yet billed. Unbilled receivables are normally billed and collected within one year. Billings made on contracts are recorded as a reduction of unbilled receivables. Unearned revenue is recorded for consideration received from customers in advance of satisfaction of the related performance obligations. The Company recognized approximately $5.0 million of the unearned amounts as revenue during the first nine months of 2019. As a practical expedient, the Company does not adjust the promised amount of consideration for the effects of a significant financing component because the period between the transfer of a product or service to a customer and when the customer pays for that product or service will be one year or less. The Company does not include extended payment terms in its contracts with customers.

Other-net

Other-net	9 Months Ended
	Sep. 27, 2019
Other Income and Expenses [Abstract]
Other-net	Other-net Other-net expense for the third quarter and first nine months of of 2019 and 2018 is summarized as follows: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Metal consignment fees $ 1,936 $ 2,503 $ 7,252 $ 7,520 Amortization of intangible assets 375 524 1,133 1,858 Foreign currency loss 469 140 853 1,359 Net loss on disposal of fixed assets 1 14 143 37 Rental income (29 ) (119 ) (87 ) (378 ) Other items 190 85 660 (12 ) Total $ 2,942 $ 3,147 $ 9,954 $ 10,384

Restructuring

Restructuring	9 Months Ended
	Sep. 27, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring In the third quarter of 2019, the Company initiated a restructuring plan in the Large Area Coatings (LAC) business (a reporting unit in the Precision Coatings segment) to reduce headcount, idle certain machinery and equipment, and exit a facility in Windsor, Connecticut. Costs associated with this plan also included severance and related costs for approximately 19 employees. In addition, in the third quarter of 2019, the Company completed other cost reduction actions in order to align costs with commensurate business levels. These actions were accomplished through elimination of vacant positions, consolidation of roles, and staff reduction. Costs associated with these actions within the Other segment included severance associated with approximately seven employees and other related costs. These costs are presented in the Consolidated Statements of Income as follows: Third Quarter Ended Nine Months Ended (Thousands) Sept. 27, 2019 Sept. 28, 2018 Sept. 27, 2019 Sept. 28, 2018 Cost of sales $ 286 $ — $ 286 $ — Selling, general, and administrative (SG&A) expense 499 — 499 — Total $ 785 $ — $ 785 $ — Remaining severance payments related to these initiatives of $0.6 million

Goodwill

Goodwill	9 Months Ended
	Sep. 27, 2019
Goodwill Disclosure [Abstract]
Goodwill	Goodwill A summary of changes in goodwill by reportable segment is as follows: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Total Balance at December 31, 2018 $ 1,899 $ 50,276 $ 38,482 $ 90,657 Impairment charge — — (11,560 ) (11,560 ) Other — (136 ) — (136 ) Balance at September 27, 2019 $ 1,899 $ 50,140 $ 26,922 $ 78,961 Goodwill is reviewed annually for impairment or more frequently if impairment indicators arise. The Company conducts its annual goodwill impairment assessment as of the first day of the fourth quarter, or more frequently under certain circumstances. Goodwill is assigned to the reporting unit, which is the operating segment level or one level below the operating segment. During the third quarter of 2019, the LAC reporting unit began to experience a decline in sales volume from a significant customer. Based on an assessment that the decline in sales volume was expected to continue, the Company initiated a restructuring plan at the end of September to reduce LAC’s cost structure. Refer to Note E for further details of the restructuring plan. The Company considered these factors to be impairment indicators. As a result, the Company performed an interim impairment analysis as of September 27, 2019 related to the LAC reporting unit. The Company first reviewed long-lived assets which resulted in an impairment charge of $2.6 million . The Company then performed a goodwill impairment analysis which resulted in an $11.6 million charge. The Company estimated fair value using a discounted cash flow analysis for goodwill and estimated market values for other assets. These non-cash charges relating to goodwill and other assets were recorded in Goodwill impairment charges and Asset impairment charges, respectively, in the Consolidated Statements of Income.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 27, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the third quarter of 2019 and 2018 was 39.5% and (15.7)% , respectively, and 21.1% and 4.0% for the first nine months of 2019 and 2018, respectively. The effective tax rate for the third quarter and first nine months of 2019 differed from the statutory tax rate primarily due to discrete income tax expense of $1.8 million and $1.3 million recorded in the third quarter and first nine months of 2019, respectively. The discrete income tax expense recorded in the third quarter of 2019 consisted of $0.8 million of expense related to an impairment of goodwill and a $1.0 million 2018 U.S. Federal income tax return to provision tax expense adjustment. The effective tax rate for the third quarter and first nine months of 2018 differed from the statutory tax rate primarily due to discrete income tax benefits of $6.1 million and $7.1 million recorded in the third quarter and first nine months of 2018, respectively. The discrete income tax benefits were comprised primarily of $10.4 million related to Staff Accounting Bulletin (SAB) No. 118 adjustments, partially offset by $2.2 million of expense for a valuation allowance related to deferred tax assets that were not likely to be realized for one of the Company's controlled foreign corporations, and a $1.5 million

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 27, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share (EPS) The following table sets forth the computation of basic and diluted EPS: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands, except per share amounts) 2019 2018 2019 2018 Numerator for basic and diluted EPS: Net income $ 3,463 $ 19,966 $ 35,909 $ 41,674 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,401 20,241 20,351 20,199 Effect of dilutive securities: Stock appreciation rights 59 168 80 183 Restricted stock units 75 86 73 84 Performance-based restricted stock units 142 153 141 141 Diluted potential common shares 276 407 294 408 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,677 20,648 20,645 20,607 Basic EPS $ 0.17 $ 0.99 $ 1.76 $ 2.06 Diluted EPS $ 0.17 $ 0.97 $ 1.74 $ 2.02 Securities totaling 70,562 and 65,112 for the quarters ended September 27, 2019 and September 28, 2018 , respectively, and 127,759 and 65,112 for the nine months ended September 27, 2019 and September 28, 2018, respectively, were excluded from the dilution calculation as the effect would have been anti-dilutive.

Inventories

Inventories	9 Months Ended
	Sep. 27, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories on the Consolidated Balance Sheets are summarized as follows: Sept. 27, December 31, (Thousands) 2019 2018 Raw materials and supplies $ 36,399 $ 33,182 Work in process 182,015 195,879 Finished goods 22,516 30,643 Subtotal $ 240,930 $ 259,704 Less: LIFO reserve balance 48,974 44,833 Inventories $ 191,956 $ 214,871 The liquidation of last in, first out (LIFO) inventory layers decreased cost of sales by $0.5 million and $0.4 million in the third quarter and first nine months of 2019, respectively, compared to an increase to cost of sales of $0.2 million and $0.3 million in the third quarter and first nine months of 2018, respectively. The Company maintains the majority of the precious metals and copper used in production on a consignment basis in order to reduce our exposure to metal price movements and to reduce our working capital investment. The notional value of off-balance sheet precious metals and copper was $302.9 million as of September 27, 2019 versus $316.1 million as of December 31, 2018.

Leases

Leases	9 Months Ended
	Sep. 27, 2019
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Leases The Company leases warehouse and manufacturing real estate, and manufacturing and computer equipment under operating leases with lease terms ranging up to 25 years . Several operating lease agreements contain options to extend the lease term and/or options for early termination. The lease term consists of the non-cancelable period of the lease, periods covered by options to extend the lease if the Company is reasonably certain to exercise the option, and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the option. The weighted average remaining lease term for the Company's operating and finance leases as of September 27, 2019 was 4.83 years and 19.52 years , respectively. The discount rate implicit within the leases is generally not determinable, and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for leases is determined based on the lease term in which lease payments are made, adjusted for impacts of collateral. The weighted average discount rate used to measure the Company's operating and finance lease liabilities as of September 27, 2019 was 5.57% and 5.31% , respectively. The components of operating and finance lease cost for the third quarter and first nine months of 2019 were as follows: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 27, (Thousands) 2019 2019 Components of lease expense Operating lease cost $ 2,449 $ 7,452 Finance lease cost Amortization of right-of-use assets 353 1,063 Interest on lease liabilities 256 778 Total lease cost $ 3,058 $ 9,293 Operating lease expense amounted to $2.4 million and $2.8 million during the third quarter of 2019 and 2018, respectively, and $7.5 million and $8.9 million during the first nine months of 2019 and 2018, respectively. The Company straight-lines its expense of fixed payments for operating leases over the lease term and expenses the variable lease payments in the period incurred. These variable lease payments are not included in the calculation of right-of-use assets or lease liabilities. Supplemental balance sheet information related to the Company's operating and finance leases as of September 27, 2019 was as follows: Sept. 27, (Thousands) 2019 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 25,054 Other liabilities and accrued items 6,908 Operating lease liabilities 19,453 Finance Leases Property, plant, and equipment $ 25,830 Allowances for depreciation, depletion, and amortization (3,331 ) Finance lease assets, net $ 22,499 Other liabilities and accrued items $ 1,243 Finance lease liabilities 17,535 Total principal payable on finance leases $ 18,778 Future maturities of the Company's lease liabilities as of September 27, 2019 are as follows: Finance Operating (Thousands) Leases Leases 2019 $ 552 $ 2,129 2020 2,208 7,726 2021 2,208 6,661 2022 2,208 4,715 2023 1,498 3,785 2024 and thereafter 21,729 5,210 Total lease payments 30,403 30,226 Less amount of lease payment representing interest 11,625 3,865 Total present value of lease payments $ 18,778 $ 26,361 Supplemental cash flow information related to leases for the first nine months of 2019 was as follows: Nine Months Ended Sept. 27, (Thousands) 2019 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,763 Operating cash flows from finance leases 778 Financing cash flows from finance leases 894

Pensions and Other Post-employm

Pensions and Other Post-employment Benefits	9 Months Ended
	Sep. 27, 2019
Retirement Benefits [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 third quarter and first nine months of 2019 and 2018 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 Third Quarter Ended Third Quarter Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Components of net periodic benefit cost (benefit) Service cost $ 1,359 $ 1,674 $ 18 $ 27 Interest cost 1,500 2,397 100 99 Expected return on plan assets (2,134 ) (3,697 ) — — Amortization of prior service benefit 120 (31 ) (374 ) (374 ) Amortization of net loss (gain) 762 1,959 (24 ) — Net periodic benefit cost (benefit) $ 1,607 $ 2,302 $ (280 ) $ (248 ) Net curtailments/settlements — 359 — — Total net benefit cost (benefit) $ 1,607 $ 2,661 $ (280 ) $ (248 ) Pension Benefits Other Benefits Nine Months Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Components of net periodic benefit cost (benefit) Service cost $ 4,117 $ 5,022 $ 53 $ 83 Interest cost 4,404 7,191 299 297 Expected return on plan assets (6,424 ) (11,091 ) — — Amortization of prior service benefit 362 (92 ) (1,123 ) (1,123 ) Amortization of net loss (gain) 2,193 5,878 (70 ) — Net periodic benefit cost (benefit) $ 4,652 $ 6,908 $ (841 ) $ (743 ) Net curtailments/settlements 3,296 359 — — Total net benefit cost (benefit) $ 7,948 $ 7,267 $ (841 ) $ (743 ) The Company made contributions to the domestic defined benefit pension plan of $4.5 million and $38.0 million in the first nine months of 2019 and 2018 , respectively. The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs in operating expenses and the non-service cost components of net periodic benefit cost in Other non-operating expenses. In May 2019, the Company's Board of Directors approved changes to the U.S. defined benefit pension plan. The Company will freeze the pay and service amounts used to calculate pension benefits for active participants in the pension plan as of January 1, 2020. The Company recognized a non-cash pre-tax pension curtailment charge of $3.3 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 27, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income (Loss) Changes in the components of accumulated other comprehensive income, including the amounts reclassified, for the third quarter and first nine months of 2019 and 2018 are as follows: Gains and Losses on Cash Flow Hedges (Thousands) Foreign Currency Precious Metals Copper Total Pension and Post-Employment Benefits Foreign Currency Translation Total Balance at June 28, 2019 $ 1,420 $ (458 ) $ (134 ) $ 828 $ (40,050 ) $ (4,756 ) $ (43,978 ) Other comprehensive income before reclassifications 354 (730 ) (271 ) (647 ) — (463 ) (1,110 ) Amounts reclassified from accumulated other comprehensive income (3 ) 343 413 753 609 — 1,362 Net current period other comprehensive income (loss) before tax 351 (387 ) 142 106 609 (463 ) 252 Deferred taxes 80 (66 ) 10 24 108 — 132 Net current period other comprehensive income (loss) after tax 271 (321 ) 132 82 501 (463 ) 120 Balance at September 27, 2019 $ 1,691 $ (779 ) $ (2 ) $ 910 $ (39,549 ) $ (5,219 ) $ (43,858 ) Balance at June 29, 2018 $ 1,582 $ 269 $ — $ 1,851 $ (97,018 ) $ (3,939 ) $ (99,106 ) Other comprehensive income (loss) before reclassifications 121 330 — 451 — 116 567 Amounts reclassified from accumulated other comprehensive income (169 ) (119 ) — (288 ) 1,935 — 1,647 Net current period other comprehensive income (loss) before tax (48 ) 211 — 163 1,935 116 2,214 Deferred taxes (11 ) 49 — 38 428 — 466 Net current period other comprehensive income (loss) after tax (37 ) 162 — 125 1,507 116 1,748 Balance at September 28, 2018 $ 1,545 $ 431 $ — $ 1,976 $ (95,511 ) $ (3,823 ) $ (97,358 ) Gains and Losses on Cash Flow Hedges (Thousands) Foreign Currency Precious Metals Copper Total Pension and Post-Employment Benefits Foreign Currency Translation Total Balance at December 31, 2018 $ 1,263 $ 79 $ (441 ) $ 901 $ (54,543 ) $ (4,592 ) $ (58,234 ) Other comprehensive income before reclassifications 602 (1,366 ) 33 (731 ) 14,224 (627 ) 12,866 Amounts reclassified from accumulated other comprehensive income (47 ) 281 505 739 5,050 — 5,789 Net current period other comprehensive income (loss) before tax 555 (1,085 ) 538 8 19,274 (627 ) 18,655 Deferred taxes 127 (227 ) 99 (1 ) 4,280 — 4,279 Net current period other comprehensive income (loss) after tax 428 (858 ) 439 9 14,994 (627 ) 14,376 Balance at September 27, 2019 $ 1,691 $ (779 ) $ (2 ) $ 910 $ (39,549 ) $ (5,219 ) $ (43,858 ) Balance at December 31, 2017 $ 959 $ (196 ) $ — $ 763 $ (99,592 ) $ (4,108 ) $ (102,937 ) Other comprehensive income (loss) before reclassifications (206 ) 774 — 568 — 285 853 Amounts reclassified from accumulated other comprehensive income 250 40 — 290 5,183 — 5,473 Net current period other comprehensive income (loss) before tax 44 814 — 858 5,183 285 6,326 Deferred taxes (542 ) 187 — (355 ) 1,102 — 747 Net current period other comprehensive income (loss) after tax 586 627 — 1,213 4,081 285 5,579 Balance at September 28, 2018 $ 1,545 $ 431 $ — $ 1,976 $ (95,511 ) $ (3,823 ) $ (97,358 ) Reclassifications from accumulated other comprehensive income of gains and losses on foreign currency cash flow hedges are recorded in Net sales in the Consolidated Statements of Income. Reclassifications from accumulated other comprehensive income of gains and losses on precious metal cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income. Refer to Note O for additional details on cash flow hedges.

Stock-based Compensation Expens

Stock-based Compensation Expense	9 Months Ended
	Sep. 27, 2019
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Expense	Stock-based Compensation Expense Stock-based compensation expense, which includes awards settled in shares and in cash, was $2.5 million and $8.7 million in the third quarter and first nine months of 2019 , respectively, compared to $4.2 million and $9.4 million in same periods of 2018. The Company granted 73,461 stock appreciation rights (SARs) to certain employees during the first nine months of 2019 . The weighted-average exercise price per share and weighted-average fair value per share of the SARs granted during the nine months ended September 27, 2019 were $58.30 and $17.76 , respectively. The Company estimated the fair value of the SARs using the following weighted-average assumptions in the Black-Scholes model: Risk-free interest rate 2.47 % Dividend yield 0.7 % Volatility 31.7 % Expected term (in years) 5.2 The Company granted 63,665 stock-settled restricted stock units (RSUs) to certain employees and 11,048 stock-settled RSUs to non-employee directors during the first nine months of 2019 . The Company measures the fair value of stock-settled RSUs based on the closing market price of a share of Materion common stock on the date of the grant. The weighted-average fair value per share was $58.30 and $68.79 for stock-settled RSUs granted to employees and non-employee directors, respectively, during the nine months ended September 27, 2019 . RSUs are expensed over the vesting period of three years for employees and one year for non-employee directors. The Company granted stock-settled performance-based restricted stock units (PRSUs) to certain employees in the first nine months of 2019 . The weighted-average fair value of the stock-settled PRSUs was $69.84 per share and will be expensed over the vesting period of three years . 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. At September 27, 2019 , unamortized compensation cost related to the unvested portion of all stock-based awards was approximately $11.2 million

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 27, 2019
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 Sheets as of September 27, 2019 and December 31, 2018 : (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 2019 2018 2019 2018 2019 2018 2019 2018 Financial Assets Deferred compensation investments $ 3,151 $ 2,156 $ 3,151 $ 2,156 $ — $ — $ — $ — Foreign currency forward contracts 478 246 — — 478 246 — — Precious metal swaps 18 237 — — 18 237 — — Copper swaps 10 — — — 10 — — — Total $ 3,657 $ 2,639 $ 3,151 $ 2,156 $ 506 $ 483 $ — $ — Financial Liabilities Deferred compensation liability $ 3,151 $ 2,156 $ 3,151 $ 2,156 $ — $ — $ — $ — Foreign currency forward contracts 45 432 — — 45 432 — — Precious metal swaps 1,001 135 — — 1,001 135 — — Copper swaps 41 569 — — 41 569 — — Total $ 4,238 $ 3,292 $ 3,151 $ 2,156 $ 1,087 $ 1,136 $ — $ — The Company uses a market approach to value the assets and liabilities for financial instruments 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 Sheets approximate fair values as of September 27, 2019 and December 31, 2018.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	9 Months Ended
	Sep. 27, 2019
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 uses derivatives to hedge a portion of its precious metal and copper 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 risk 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 that 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. In certain circumstances, the Company also refines metal from the customer and may retain a portion of the refined metal as payment. The Company may elect to enter into a forward contract to sell precious metal to reduce the Company's price exposure. 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. Copper. We also use copper in our production processes. When possible, fluctuations in the purchase price of copper are passed on to customers in the form of price adders or reductions. While over time our price exposure to copper is generally in balance, there can be a lag between the change in our cost and the pass-through to our customers, resulting in higher or lower margins in a given period. To mitigate this impact, we hedge a portion of this pricing risk. 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 fair value. 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. 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 following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives not designated as hedging instruments (on a gross basis) and balance sheet classification as of September 27, 2019 and December 31, 2018 : September 27, 2019 December 31, 2018 (Thousands) Notional Amount Fair Value Notional Amount Fair Value Foreign currency forward contracts Prepaid expenses $ 4,316 $ 95 $ 8,767 $ 244 Other liabilities and accrued items 18,644 36 8,771 249 These outstanding foreign currency derivatives were related to balance sheet hedges and intercompany loans. Other-net included $0.3 million of foreign currency gains relating to these derivatives during both the third quarter and the first nine months of 2019 and included $0.4 million and $1.6 million of foreign currency gains during the third quarter and first nine months of 2018, respectively. The following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives designated as cash flow hedges (on a gross basis) and balance sheet classification as of September 27, 2019 and December 31, 2018 : September 27, 2019 December 31, 2018 (Thousands) Notional Amount Fair Value Notional Amount Fair Value Prepaid expenses Foreign currency forward contracts - yen $ 1,000 $ 14 $ — $ — Foreign currency forward contracts - euro 8,082 369 725 2 Precious metal swaps 156 4 4,533 237 Copper swaps 517 10 — — Total 9,755 397 5,258 239 Other assets Precious metal swaps 626 14 — — Total 626 14 — — Other liabilities and accrued items Foreign currency forward contracts - yen 944 9 1,264 17 Foreign currency forward contracts - euro — — 19,158 166 Precious metal swaps 9,342 949 2,864 135 Copper swaps 2,686 41 11,170 569 Total 12,972 999 34,456 887 Other long-term liabilities Precious metal swaps 1,169 52 — — Total $ 24,522 $ 640 $ 39,714 $ 648 All of these contracts were designated and effective as cash flow hedges. The Company expects to relieve substantially the entire balance in OCI as of September 27, 2019 to the Consolidated Statements of Income within the next 15-month period. Refer to Note L for additional OCI details. The following table summarizes the amounts reclassified from accumulated other comprehensive income relating to the hedging relationship of the Company’s outstanding derivatives designated as cash flow hedges and income statement classification as of the third quarter and first nine months of of 2019 : Third Quarter Ended Nine Months Ended (Thousands) Sept. 27, 2019 Sept. 27, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ (3 ) $ (47 ) Precious metal swaps Cost of sales 343 281 Copper swaps Cost of sales 413 505 Total $ 753 $ 739

Contingencies

Contingencies	9 Months Ended
	Sep. 27, 2019
Loss Contingency [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Contingencies Legal Proceedings . For general information regarding legal proceedings relating to Chronic Beryllium Disease Claims , refer to Note S ("Contingencies and Commitments") in the Company's 2018 Annual Report on Form 10-K. One beryllium case, originally filed and dismissed during 2015, but reversed and remanded in 2016 to the trial court, was outstanding as of December 31, 2018. That case was settled for an immaterial amount in the third quarter of 2019 and dismissed. In addition, during the third quarter of 2019, one new beryllium case was filed, although the Company was not served until the fourth quarter of 2019. The Company does not expect the resolution of this matter to have a material impact on the consolidated financial statements. Other Litigation. The Company is party to several pending legal proceedings and claims arising in the normal course of business. The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosure related to such matters. To the extent there is a reasonable possibility that the losses could exceed any amounts accrued, the Company will adjust the accrual in the period the determination is made, disclose an estimate of the additional loss or range of loss, indicate that the estimate is immaterial with respect to its financial statements as a whole or, if the amount of such adjustment cannot be reasonably estimated, disclose that an estimate cannot be made. Environmental Proceedings. 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 $6.1 million and $6.5 million at September 27, 2019 and December 31, 2018 , respectively. Environmental projects tend to be long-term, and the final actual remediation costs may differ from the amounts currently recorded.

Basis of Accounting (Policies)

Basis of Accounting (Policies)	9 Months Ended
	Sep. 27, 2019
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation: In management’s opinion, the accompanying consolidated financial statements of Materion Corporation and its subsidiaries (referred to herein as the Company, our, we, or us) contain all of the adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods reported. All adjustments were of a normal and recurring nature. Certain amounts in prior periods have been reclassified to conform to the 2019 consolidated financial statement presentation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's 2018 Annual Report on Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year.

New Pronouncements (Policies)

New Pronouncements (Policies)	9 Months Ended
	Sep. 27, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	New Pronouncements Adopted: In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 (Topic 842), Leases , which eliminates the off-balance-sheet accounting for leases. This guidance requires lessees to report their operating leases as both an asset and liability on the balance sheet and disclose key information about leasing arrangements. The Company adopted this guidance as of January 1, 2019 using the modified retrospective method and applied it retrospectively through a cumulative-effect adjustment to retained earnings. The Company applied the transitional package of practical expedients allowed by the standard to not reassess the identification, classification, and initial direct costs of leases commencing before this ASU's effective date; however, the Company did not elect the hindsight transitional practical expedient. The Company also applied the practical expedient to not separate lease and non-lease components to new leases as well as existing leases through transition. The Company made an accounting policy election not to apply recognition requirements of the guidance to short-term leases. Results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with legacy generally accepted accounting principles. The Company recorded a net reduction to opening retained earnings of $0.2 million as of January 1, 2019 due to the cumulative impact of adopting Topic 842, with the impact primarily related to derecognition of a built-to-suit lease. Refer to Note J for additional disclosures relating to the Company's leasing arrangements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which intended to simplify the subsequent measurement of goodwill. This ASU eliminates the requirement for an entity to calculate the implied fair value of goodwill in measuring an impairment charge. Instead, an entity will perform its annual, or interim, goodwill impairment testing by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount by which the carrying amount exceeds the fair value. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company's consolidated financial statements. Refer to Note F for additional disclosures related to goodwill. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which amends and simplifies existing guidance to allow companies to more accurately present the economic effects of risk management activities in the financial statements. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company’s consolidated financial statements. New Pronouncements Issued: In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . This ASU requires an entity to change its accounting approach in determining impairment of certain financial instruments, including trade receivables, from an “incurred loss” to a “current expected credit loss” model. The standard will be effective for fiscal years beginning after December 15, 2019, including interim periods within such fiscal years. Early adoption is permitted. The Company is currently assessing the effect that this ASU will have on its financial position, results of operations, and disclosures.

Revenue Recognition Accounting

Revenue Recognition Accounting Policy (Policies)	9 Months Ended
	Sep. 27, 2019
Accounting Policies [Abstract]
Revenue [Policy Text Block]	Net sales consist primarily of revenue from the sale of precious and non-precious specialty metals, beryllium and copper-based alloys, beryllium composites, and other products into numerous end markets. The Company requires an agreement with a customer that creates enforceable rights and performance obligations. The Company generally recognizes revenue, in an amount that reflects the consideration to which it expects to be entitled, upon satisfaction of a performance obligation, by transferring control over a product to the customer. Control over the product is generally transferred to the customer when the Company has a present right to payment, the customer has legal title, the customer has physical possession, the customer has the significant risks and rewards of ownership, and/or the customer has accepted the product. Transaction Price Allocated to Future Performance Obligations: Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers,

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 27, 2019
Segment Reporting [Abstract]
Segment Reporting	(Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Third Quarter 2019 Net sales $ 130,704 $ 147,650 $ 27,625 $ — $ 305,979 Intersegment sales — 17,161 — — 17,161 Operating profit (loss) 18,780 6,202 (11,198 ) (7,495 ) 6,289 Third Quarter 2018 Net sales $ 124,103 $ 144,072 $ 29,018 $ — $ 297,193 Intersegment sales 2 13,265 — — 13,267 Operating profit (loss) 16,728 6,882 3,499 (8,443 ) 18,666 First Nine Months 2019 Net sales $ 393,048 $ 424,913 $ 87,302 $ — $ 905,263 Intersegment sales 15 53,634 — — 53,649 Operating profit (loss) 57,066 19,421 (5,184 ) (20,877 ) 50,426 First Nine Months 2018 Net sales $ 372,104 $ 447,941 $ 89,700 $ — $ 909,745 Intersegment sales 33 36,317 — — 36,350 Operating profit (loss) 38,898 18,352 9,107 (19,248 ) 47,109
Disaggregation of Revenue	The following table disaggregates revenue for each segment by end market for the third quarter and first nine months of 2019 and 2018, respectively: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Third Quarter 2019 End Market Semiconductor $ 1,220 $ 107,883 $ — $ — $ 109,103 Industrial 28,353 8,302 3,365 — 40,020 Aerospace and Defense 27,653 1,779 5,303 — 34,735 Consumer Electronics 18,399 395 5,613 — 24,407 Automotive 16,071 3,012 296 — 19,379 Energy 10,629 20,911 — — 31,540 Telecom and Data Center 14,964 835 — — 15,799 Other 13,415 4,533 13,048 — 30,996 Total $ 130,704 $ 147,650 $ 27,625 $ — $ 305,979 Third Quarter 2018 End Market Semiconductor $ 1,381 $ 104,806 $ 269 $ — $ 106,456 Industrial 26,812 9,269 3,338 — 39,419 Aerospace and Defense 19,840 910 5,203 — 25,953 Consumer Electronics 14,964 149 4,730 — 19,843 Automotive 25,292 1,707 398 — 27,397 Energy 12,395 19,338 — — 31,733 Telecom and Data Center 17,530 951 — — 18,481 Other 5,889 6,942 15,080 — 27,911 Total $ 124,103 $ 144,072 $ 29,018 $ — $ 297,193 (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total First Nine Months 2019 End Market Semiconductor $ 4,489 $ 314,607 $ 205 $ — $ 319,301 Industrial 83,368 23,934 11,358 — 118,660 Aerospace and Defense 80,774 4,397 14,924 — 100,095 Consumer Electronics 54,617 1,100 13,530 — 69,247 Automotive 53,348 6,035 882 — 60,265 Energy 33,026 59,136 — — 92,162 Telecom and Data Center 50,800 1,749 — — 52,549 Other 32,626 13,955 46,403 — 92,984 Total $ 393,048 $ 424,913 $ 87,302 $ — $ 905,263 First Nine Months 2018 End Market Semiconductor $ 3,768 $ 333,797 $ 1,240 $ — $ 338,805 Industrial 85,389 25,002 9,237 — 119,628 Aerospace and Defense 64,086 2,912 14,847 — 81,845 Consumer Electronics 46,419 775 14,021 — 61,215 Automotive 72,065 5,890 1,089 — 79,044 Energy 30,007 53,045 — — 83,052 Telecom and Data Center 50,177 1,982 — — 52,159 Other 20,193 24,538 49,266 — 93,997 Total $ 372,104 $ 447,941 $ 89,700 $ — $ 909,745

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 27, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) September 27, 2019 December 31, 2018 $ change % change Accounts receivable, trade $ 149,957 $ 124,498 $ 25,459 20 % Unbilled receivables 16,206 4,619 11,587 251 % Unearned revenue 5,188 5,918 (730 ) (12 )%

Other-net (Tables)

Other-net (Tables)	9 Months Ended
	Sep. 27, 2019
Other Income and Expenses [Abstract]
Summary of Other-Net Expense	Other-net expense for the third quarter and first nine months of of 2019 and 2018 is summarized as follows: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Metal consignment fees $ 1,936 $ 2,503 $ 7,252 $ 7,520 Amortization of intangible assets 375 524 1,133 1,858 Foreign currency loss 469 140 853 1,359 Net loss on disposal of fixed assets 1 14 143 37 Rental income (29 ) (119 ) (87 ) (378 ) Other items 190 85 660 (12 ) Total $ 2,942 $ 3,147 $ 9,954 $ 10,384

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 27, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	These costs are presented in the Consolidated Statements of Income as follows: Third Quarter Ended Nine Months Ended (Thousands) Sept. 27, 2019 Sept. 28, 2018 Sept. 27, 2019 Sept. 28, 2018 Cost of sales $ 286 $ — $ 286 $ — Selling, general, and administrative (SG&A) expense 499 — 499 — Total $ 785 $ — $ 785 $ —

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 27, 2019
Goodwill Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	A summary of changes in goodwill by reportable segment is as follows: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Total Balance at December 31, 2018 $ 1,899 $ 50,276 $ 38,482 $ 90,657 Impairment charge — — (11,560 ) (11,560 ) Other — (136 ) — (136 ) Balance at September 27, 2019 $ 1,899 $ 50,140 $ 26,922 $ 78,961

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 27, 2019
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted EPS: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands, except per share amounts) 2019 2018 2019 2018 Numerator for basic and diluted EPS: Net income $ 3,463 $ 19,966 $ 35,909 $ 41,674 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,401 20,241 20,351 20,199 Effect of dilutive securities: Stock appreciation rights 59 168 80 183 Restricted stock units 75 86 73 84 Performance-based restricted stock units 142 153 141 141 Diluted potential common shares 276 407 294 408 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,677 20,648 20,645 20,607 Basic EPS $ 0.17 $ 0.99 $ 1.76 $ 2.06 Diluted EPS $ 0.17 $ 0.97 $ 1.74 $ 2.02

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 27, 2019
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories on the Consolidated Balance Sheets are summarized as follows: Sept. 27, December 31, (Thousands) 2019 2018 Raw materials and supplies $ 36,399 $ 33,182 Work in process 182,015 195,879 Finished goods 22,516 30,643 Subtotal $ 240,930 $ 259,704 Less: LIFO reserve balance 48,974 44,833 Inventories $ 191,956 $ 214,871

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 27, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of operating and finance lease cost for the third quarter and first nine months of 2019 were as follows: Third Quarter Ended Nine Months Ended Sept. 27, Sept. 27, (Thousands) 2019 2019 Components of lease expense Operating lease cost $ 2,449 $ 7,452 Finance lease cost Amortization of right-of-use assets 353 1,063 Interest on lease liabilities 256 778 Total lease cost $ 3,058 $ 9,293
Schedule Of Future Minimum Lease Payments For Capital Leases And Operating Leases [Table Text Block]	Future maturities of the Company's lease liabilities as of September 27, 2019 are as follows: Finance Operating (Thousands) Leases Leases 2019 $ 552 $ 2,129 2020 2,208 7,726 2021 2,208 6,661 2022 2,208 4,715 2023 1,498 3,785 2024 and thereafter 21,729 5,210 Total lease payments 30,403 30,226 Less amount of lease payment representing interest 11,625 3,865 Total present value of lease payments $ 18,778 $ 26,361
ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock [Table Text Block]	Supplemental cash flow information related to leases for the first nine months of 2019 was as follows: Nine Months Ended Sept. 27, (Thousands) 2019 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,763 Operating cash flows from finance leases 778 Financing cash flows from finance leases 894
ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock [Table Text Block]	Supplemental balance sheet information related to the Company's operating and finance leases as of September 27, 2019 was as follows: Sept. 27, (Thousands) 2019 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 25,054 Other liabilities and accrued items 6,908 Operating lease liabilities 19,453 Finance Leases Property, plant, and equipment $ 25,830 Allowances for depreciation, depletion, and amortization (3,331 ) Finance lease assets, net $ 22,499 Other liabilities and accrued items $ 1,243 Finance lease liabilities 17,535 Total principal payable on finance leases $ 18,778

Pensions and Other Post-emplo_2

Pensions and Other Post-employment Benefits (Tables)	9 Months Ended
	Sep. 27, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The following is a summary of the net periodic benefit cost for the third quarter and first nine months of 2019 and 2018 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 Third Quarter Ended Third Quarter Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Components of net periodic benefit cost (benefit) Service cost $ 1,359 $ 1,674 $ 18 $ 27 Interest cost 1,500 2,397 100 99 Expected return on plan assets (2,134 ) (3,697 ) — — Amortization of prior service benefit 120 (31 ) (374 ) (374 ) Amortization of net loss (gain) 762 1,959 (24 ) — Net periodic benefit cost (benefit) $ 1,607 $ 2,302 $ (280 ) $ (248 ) Net curtailments/settlements — 359 — — Total net benefit cost (benefit) $ 1,607 $ 2,661 $ (280 ) $ (248 ) Pension Benefits Other Benefits Nine Months Ended Nine Months Ended Sept. 27, Sept. 28, Sept. 27, Sept. 28, (Thousands) 2019 2018 2019 2018 Components of net periodic benefit cost (benefit) Service cost $ 4,117 $ 5,022 $ 53 $ 83 Interest cost 4,404 7,191 299 297 Expected return on plan assets (6,424 ) (11,091 ) — — Amortization of prior service benefit 362 (92 ) (1,123 ) (1,123 ) Amortization of net loss (gain) 2,193 5,878 (70 ) — Net periodic benefit cost (benefit) $ 4,652 $ 6,908 $ (841 ) $ (743 ) Net curtailments/settlements 3,296 359 — — Total net benefit cost (benefit) $ 7,948 $ 7,267 $ (841 ) $ (743 )

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 27, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in the components of accumulated other comprehensive income, including the amounts reclassified, for the third quarter and first nine months of 2019 and 2018 are as follows: Gains and Losses on Cash Flow Hedges (Thousands) Foreign Currency Precious Metals Copper Total Pension and Post-Employment Benefits Foreign Currency Translation Total Balance at June 28, 2019 $ 1,420 $ (458 ) $ (134 ) $ 828 $ (40,050 ) $ (4,756 ) $ (43,978 ) Other comprehensive income before reclassifications 354 (730 ) (271 ) (647 ) — (463 ) (1,110 ) Amounts reclassified from accumulated other comprehensive income (3 ) 343 413 753 609 — 1,362 Net current period other comprehensive income (loss) before tax 351 (387 ) 142 106 609 (463 ) 252 Deferred taxes 80 (66 ) 10 24 108 — 132 Net current period other comprehensive income (loss) after tax 271 (321 ) 132 82 501 (463 ) 120 Balance at September 27, 2019 $ 1,691 $ (779 ) $ (2 ) $ 910 $ (39,549 ) $ (5,219 ) $ (43,858 ) Balance at June 29, 2018 $ 1,582 $ 269 $ — $ 1,851 $ (97,018 ) $ (3,939 ) $ (99,106 ) Other comprehensive income (loss) before reclassifications 121 330 — 451 — 116 567 Amounts reclassified from accumulated other comprehensive income (169 ) (119 ) — (288 ) 1,935 — 1,647 Net current period other comprehensive income (loss) before tax (48 ) 211 — 163 1,935 116 2,214 Deferred taxes (11 ) 49 — 38 428 — 466 Net current period other comprehensive income (loss) after tax (37 ) 162 — 125 1,507 116 1,748 Balance at September 28, 2018 $ 1,545 $ 431 $ — $ 1,976 $ (95,511 ) $ (3,823 ) $ (97,358 ) Gains and Losses on Cash Flow Hedges (Thousands) Foreign Currency Precious Metals Copper Total Pension and Post-Employment Benefits Foreign Currency Translation Total Balance at December 31, 2018 $ 1,263 $ 79 $ (441 ) $ 901 $ (54,543 ) $ (4,592 ) $ (58,234 ) Other comprehensive income before reclassifications 602 (1,366 ) 33 (731 ) 14,224 (627 ) 12,866 Amounts reclassified from accumulated other comprehensive income (47 ) 281 505 739 5,050 — 5,789 Net current period other comprehensive income (loss) before tax 555 (1,085 ) 538 8 19,274 (627 ) 18,655 Deferred taxes 127 (227 ) 99 (1 ) 4,280 — 4,279 Net current period other comprehensive income (loss) after tax 428 (858 ) 439 9 14,994 (627 ) 14,376 Balance at September 27, 2019 $ 1,691 $ (779 ) $ (2 ) $ 910 $ (39,549 ) $ (5,219 ) $ (43,858 ) Balance at December 31, 2017 $ 959 $ (196 ) $ — $ 763 $ (99,592 ) $ (4,108 ) $ (102,937 ) Other comprehensive income (loss) before reclassifications (206 ) 774 — 568 — 285 853 Amounts reclassified from accumulated other comprehensive income 250 40 — 290 5,183 — 5,473 Net current period other comprehensive income (loss) before tax 44 814 — 858 5,183 285 6,326 Deferred taxes (542 ) 187 — (355 ) 1,102 — 747 Net current period other comprehensive income (loss) after tax 586 627 — 1,213 4,081 285 5,579 Balance at September 28, 2018 $ 1,545 $ 431 $ — $ 1,976 $ (95,511 ) $ (3,823 ) $ (97,358 )

Stock-based Compensation Expe_2

Stock-based Compensation Expense Tables (Tables)	9 Months Ended
	Sep. 27, 2019
Share-based Payment Arrangement [Abstract]
Schedule Of Share Based Payment Award SARs Valuation Assumptions [Table Text Block]	The Company estimated the fair value of the SARs using the following weighted-average assumptions in the Black-Scholes model: Risk-free interest rate 2.47 % Dividend yield 0.7 % Volatility 31.7 % Expected term (in years) 5.2

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 27, 2019
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 September 27, 2019 and December 31, 2018 : (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 2019 2018 2019 2018 2019 2018 2019 2018 Financial Assets Deferred compensation investments $ 3,151 $ 2,156 $ 3,151 $ 2,156 $ — $ — $ — $ — Foreign currency forward contracts 478 246 — — 478 246 — — Precious metal swaps 18 237 — — 18 237 — — Copper swaps 10 — — — 10 — — — Total $ 3,657 $ 2,639 $ 3,151 $ 2,156 $ 506 $ 483 $ — $ — Financial Liabilities Deferred compensation liability $ 3,151 $ 2,156 $ 3,151 $ 2,156 $ — $ — $ — $ — Foreign currency forward contracts 45 432 — — 45 432 — — Precious metal swaps 1,001 135 — — 1,001 135 — — Copper swaps 41 569 — — 41 569 — — Total $ 4,238 $ 3,292 $ 3,151 $ 2,156 $ 1,087 $ 1,136 $ — $ —

Derivative Instruments and He_2

Derivative Instruments and Hedging Activity Tables (Tables)	9 Months Ended
	Sep. 27, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments NonHedging [Table Text Block]	The following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives not designated as hedging instruments (on a gross basis) and balance sheet classification as of September 27, 2019 and December 31, 2018 : September 27, 2019 December 31, 2018 (Thousands) Notional Amount Fair Value Notional Amount Fair Value Foreign currency forward contracts Prepaid expenses $ 4,316 $ 95 $ 8,767 $ 244 Other liabilities and accrued items 18,644 36 8,771 249
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives designated as cash flow hedges (on a gross basis) and balance sheet classification as of September 27, 2019 and December 31, 2018 : September 27, 2019 December 31, 2018 (Thousands) Notional Amount Fair Value Notional Amount Fair Value Prepaid expenses Foreign currency forward contracts - yen $ 1,000 $ 14 $ — $ — Foreign currency forward contracts - euro 8,082 369 725 2 Precious metal swaps 156 4 4,533 237 Copper swaps 517 10 — — Total 9,755 397 5,258 239 Other assets Precious metal swaps 626 14 — — Total 626 14 — — Other liabilities and accrued items Foreign currency forward contracts - yen 944 9 1,264 17 Foreign currency forward contracts - euro — — 19,158 166 Precious metal swaps 9,342 949 2,864 135 Copper swaps 2,686 41 11,170 569 Total 12,972 999 34,456 887 Other long-term liabilities Precious metal swaps 1,169 52 — — Total $ 24,522 $ 640 $ 39,714 $ 648
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table summarizes the amounts reclassified from accumulated other comprehensive income relating to the hedging relationship of the Company’s outstanding derivatives designated as cash flow hedges and income statement classification as of the third quarter and first nine months of of 2019 : Third Quarter Ended Nine Months Ended (Thousands) Sept. 27, 2019 Sept. 27, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ (3 ) $ (47 ) Precious metal swaps Cost of sales 343 281 Copper swaps Cost of sales 413 505 Total $ 753 $ 739

New Prouncements Adopted (Detai

New Prouncements Adopted (Details) $ in Millions	Jan. 01, 2019USD ($)
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ 0.2

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Segment Reporting Information
Net sales	$ 305,979	$ 297,193	$ 905,263	$ 909,745
Intersegment sales	17,161	13,267	53,649	36,350
Operating profit (loss)	6,289	18,666	50,426	47,109
Performance Alloys and Composites
Segment Reporting Information
Net sales	130,704	124,103	393,048	372,104
Intersegment sales	0	2	15	33
Operating profit (loss)	18,780	16,728	57,066	38,898
Advanced Materials
Segment Reporting Information
Net sales	147,650	144,072	424,913	447,941
Intersegment sales	17,161	13,265	53,634	36,317
Operating profit (loss)	6,202	6,882	19,421	18,352
Precision Coatings
Segment Reporting Information
Net sales	27,625	29,018	87,302	89,700
Intersegment sales	0	0	0	0
Operating profit (loss)	(11,198)	3,499	(5,184)	9,107
Other
Segment Reporting Information
Net sales	0	0	0	0
Intersegment sales	0	0	0	0
Operating profit (loss)	$ (7,495)	$ (8,443)	$ (20,877)	$ (19,248)

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 305,979	$ 297,193	$ 905,263	$ 909,745
Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	109,103	106,456	319,301	338,805
Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	24,407	19,843	69,247	61,215
Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	40,020	39,419	118,660	119,628
Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	34,735	25,953	100,095	81,845
Energy
Disaggregation of Revenue [Line Items]
Net sales	31,540	31,733	92,162	83,052
Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	15,799	18,481	52,549	52,159
Automotive Electronics
Disaggregation of Revenue [Line Items]
Net sales	19,379	27,397	60,265	79,044
Other End Market
Disaggregation of Revenue [Line Items]
Net sales	30,996	27,911	92,984	93,997
Performance Alloys and Composites
Disaggregation of Revenue [Line Items]
Net sales	130,704	124,103	393,048	372,104
Performance Alloys and Composites | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	1,220	1,381	4,489	3,768
Performance Alloys and Composites | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	18,399	14,964	54,617	46,419
Performance Alloys and Composites | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	28,353	26,812	83,368	85,389
Performance Alloys and Composites | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	27,653	19,840	80,774	64,086
Performance Alloys and Composites | Energy
Disaggregation of Revenue [Line Items]
Net sales	10,629	12,395	33,026	30,007
Performance Alloys and Composites | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	14,964	17,530	50,800	50,177
Performance Alloys and Composites | Automotive Electronics
Disaggregation of Revenue [Line Items]
Net sales	16,071	25,292	53,348	72,065
Performance Alloys and Composites | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	13,415	5,889	32,626	20,193
Advanced Materials
Disaggregation of Revenue [Line Items]
Net sales	147,650	144,072	424,913	447,941
Advanced Materials | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	107,883	104,806	314,607	333,797
Advanced Materials | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	395	149	1,100	775
Advanced Materials | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	8,302	9,269	23,934	25,002
Advanced Materials | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	1,779	910	4,397	2,912
Advanced Materials | Energy
Disaggregation of Revenue [Line Items]
Net sales	20,911	19,338	59,136	53,045
Advanced Materials | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	835	951	1,749	1,982
Advanced Materials | Automotive Electronics
Disaggregation of Revenue [Line Items]
Net sales	3,012	1,707	6,035	5,890
Advanced Materials | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	4,533	6,942	13,955	24,538
Precision Coatings
Disaggregation of Revenue [Line Items]
Net sales	27,625	29,018	87,302	89,700
Precision Coatings | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	0	269	205	1,240
Precision Coatings | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	5,613	4,730	13,530	14,021
Precision Coatings | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	3,365	3,338	11,358	9,237
Precision Coatings | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	5,303	5,203	14,924	14,847
Precision Coatings | Energy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Precision Coatings | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Precision Coatings | Automotive Electronics
Disaggregation of Revenue [Line Items]
Net sales	296	398	882	1,089
Precision Coatings | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	13,048	15,080	46,403	49,266
Other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Energy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Automotive Electronics
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Dec. 31, 2018
Capitalized Contract Cost [Line Items]
Increase (decrease) in unearned revenue	$ (728)	$ 2,365
Accounts receivable, trade
Capitalized Contract Cost [Line Items]
Accounts Receivable, Trade	149,957		$ 124,498
Change in Accounts Receivable, Trade	$ 25,459
Contract Asset Percent Change	20.00%
Unbilled Receivables
Capitalized Contract Cost [Line Items]
Unbilled Contracts Receivable	$ 16,206		4,619
Change in Unbilled Receivables	$ 11,587
Contract Asset Percent Change	251.00%
Unearned revenue
Capitalized Contract Cost [Line Items]
Deferred Revenue	$ 5,188		$ 5,918
Increase (decrease) in unearned revenue	$ (730)
Contract Liability Percent Change	(12.00%)

Revenue Recognition (Details 1)

Revenue Recognition (Details 1) $ in Millions	9 Months Ended
	Sep. 27, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 5

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) $ in Millions	Sep. 27, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 21.6

Other-net (Detail)

Other-net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Other Income and Expenses [Abstract]
Metal consignment fees	$ 1,936	$ 2,503	$ 7,252	$ 7,520
Amortization of Intangible Assets	375	524	1,133	1,858
Foreign currency loss	469	140	853	1,359
Net loss on disposal of fixed assets	1	14	143	37
Rental Income	(29)	(119)	(87)	(378)
Other items	190	85	660	(12)
Total	$ 2,942	$ 3,147	$ 9,954	$ 10,384

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 785	$ 0	$ 785	$ 0
Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	286	0	286	0
Selling, general, and administrative (SG&A) expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 499	$ 0	$ 499	$ 0

Restructuring (Details 1)

Restructuring (Details 1) $ in Millions	3 Months Ended
	Sep. 27, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Remaining severance payments	$ 0.6
Precision Coatings
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated	19
Other
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated	7

Goodwill (Detail)

Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018	Dec. 31, 2018
Goodwill [Line Items]
Impairment charge	$ 11,560	$ 0	$ 11,560	$ 0
Other			136
Goodwill	78,961		78,961		$ 90,657
Performance Alloys and Composites
Goodwill [Line Items]
Impairment charge			0
Other			0
Goodwill	1,899		1,899		1,899
Advanced Materials
Goodwill [Line Items]
Impairment charge			0
Other			136
Goodwill	50,140		50,140		50,276
Precision Coatings
Goodwill [Line Items]
Impairment charge			11,560
Other			0
Goodwill	$ 26,922		$ 26,922		$ 38,482

Goodwill (Details 1)

Goodwill (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Goodwill Disclosure [Abstract]
Asset impairment charges	$ 2,581	$ 0	$ 2,581	$ 0
Goodwill impairment charges	$ 11,560	$ 0	$ 11,560	$ 0

Income Taxes Details (Details)

Income Taxes Details (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	39.50%	(15.70%)	21.10%	4.00%
Effective income tax rate, amount	$ 1.8	$ 6.1	$ 1.3	$ 7.1
Income tax expense from goodwill impairment	0.8
Tax Cuts and Jobs Act, Measurement Period Adjustment, Income Tax Expense (Benefit)				10.4
Deferred other tax expense				2.2
U.S. Federal income tax return to provision tax expense adjustment	$ 1			$ 1.5

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Numerator For Basic And Diluted EPS:
Net income	$ 3,463	$ 19,966	$ 35,909	$ 41,674
Denominator for basic EPS:
Weighted-average shares outstanding	20,401	20,241	20,351	20,199
Effect of dilutive securities:
Diluted potential common shares (in shares)	276	407	294	408
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding	20,677	20,648	20,645	20,607
Basic EPS (in usd per share)	$ 0.17	$ 0.99	$ 1.76	$ 2.06
Diluted EPS (in usd per share)	$ 0.17	$ 0.97	$ 1.74	$ 2.02
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	59	168	80	183
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	75	86	73	84
Performance Shares
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	142	153	141	141

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - shares	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Earnings Per Share [Abstract]
Securities excluded from diluted EPS calculation	70,562	65,112	127,759	65,112

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2018
Principally average cost:
Raw materials and supplies	$ 36,399	$ 33,182
Work in process	182,015	195,879
Finished goods	22,516	30,643
Subtotal	240,930	259,704
Less: LIFO reserve balance	48,974	44,833
Inventories	$ 191,956	$ 214,871

Inventories (Details 1)

Inventories (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018	Dec. 31, 2018
Inventory Disclosure [Abstract]
LIFO liquidation effect	$ (0.5)	$ 0.2	$ (0.4)	$ 0.3
Notional Amount of Nonderivative Instruments			$ 302.9		$ 316.1

Components of Lease Expense (De

Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 27, 2019	Sep. 27, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 2,449	$ 7,452
Finance Leases
Amortization of right-of-use assets	353	1,063
Interest on lease liabilities	256	778
Total lease cost	$ 3,058	$ 9,293

Future Estimated Minimum Paymen

Future Estimated Minimum Payments Under Finance Leases and Non-Cancelable Operating Leases (Details) $ in Thousands	Sep. 27, 2019USD ($)
Finance Leases
2019	$ 552
2020	2,208
2021	2,208
2022	2,208
2023	1,498
2024 and thereafter	21,729
Total minimum lease payments	30,403
Amounts representing interest	11,625
Present value of net minimum lease payments	18,778
Operating Leases
2019	2,129
2020	7,726
2021	6,661
2022	4,715
2023	3,785
2024 and thereafter	5,210
Total minimum lease payments	30,226
Amount of lease payment representing interest	3,865
Present value of lease payments	$ 26,361

Leases (Details Textual)

Leases (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Leases [Abstract]
Operating Lease Term Maximum	25 years
Operating lease expense	$ 2.4	$ 2.8	$ 7.5	$ 8.9
Weighted Average Remaining Lease Term
Operating leases	4 years 9 months 29 days		4 years 9 months 29 days
Finance leases	19 years 6 months 7 days		19 years 6 months 7 days
Weighted Average Discount Rate
Operating leases	5.57%		5.57%
Finance leases	5.31%		5.31%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 11,763
Operating cash flows from finance leases	778
Financing cash flows from finance leases	$ 894	$ 573

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2018
Operating Leases
Operating lease, right-of-use asset	$ 25,054	$ 0
Operating Lease, Liability, Current	6,908
Operating lease liabilities	19,453	0
Finance Leases
Finance lease liabilities	17,535	15,221
Total principal payable on finance lease	18,778
Property, Plant and Equipment	909,254	898,251
Allowance for depreciation, depletion and amortization	(675,039)	(647,233)
Finance lease assets, net	234,215	$ 251,018
Other liabilities and accrued items	1,243
Property, Plant and Equipment [Member]
Property, Plant and Equipment	25,830
Allowance for depreciation, depletion and amortization	(3,331)
Finance lease assets, net	$ 22,499

Pensions and Other Post-emplo_3

Pensions and Other Post-employment Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Components of net periodic benefit cost
Net curtailment/settlements		$ 359	$ 3,296	$ 359
Pension Benefits
Components of net periodic benefit cost
Service cost	$ 1,359	1,674	4,117	5,022
Interest cost	1,500	2,397	4,404	7,191
Expected return on plan assets	(2,134)	(3,697)	(6,424)	(11,091)
Amortization of prior service benefit	120	(31)	362	(92)
Amortization of net loss (gain)	762	1,959	2,193	5,878
Net periodic benefit cost (benefit)	1,607	2,302	4,652	6,908
Net curtailment/settlements	0	359	3,296	359
Total net benefit cost (benefit)	1,607	2,661	7,948	7,267
Other Benefits
Components of net periodic benefit cost
Service cost	18	27	53	83
Interest cost	100	99	299	297
Expected return on plan assets	0	0	0	0
Amortization of prior service benefit	(374)	(374)	(1,123)	(1,123)
Amortization of net loss (gain)	(24)	0	(70)	0
Net periodic benefit cost (benefit)	(280)	(248)	(841)	(743)
Net curtailment/settlements	0	0	0	0
Total net benefit cost (benefit)	$ (280)	$ (248)	$ (841)	$ (743)

Pensions and Other Post-emplo_4

Pensions and Other Post-employment Benefits (Detail 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Defined Benefit Plan Disclosure
Pension curtailment		$ 359	$ 3,296	$ 359
Pension Benefits
Defined Benefit Plan Disclosure
Contributions by employer			4,500	38,000
Pension curtailment	$ 0	$ 359	$ 3,296	$ 359

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018	Jun. 28, 2019	Dec. 31, 2018	Jun. 29, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	$ (43,858)	$ (97,358)	$ (43,858)	$ (97,358)	$ (43,978)	$ (58,234)	$ (99,106)	$ (102,937)
Activity
Other comprehensive income (loss) before reclassifications	(1,110)	567	12,866	853
Amounts reclassified from accumulated other comprehensive income	1,362	1,647	5,789	5,473
Net current period other comprehensive income (loss) before tax	252	2,214	18,655	6,326
Deferred taxes on current period activity	132	466	4,279	747
Net current period other comprehensive income (loss) after tax	120	1,748	14,376	5,579
Pension and Post Employment Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(39,549)	(95,511)	(39,549)	(95,511)	(40,050)	(54,543)	(97,018)	(99,592)
Activity
Other comprehensive income (loss) before reclassifications	0	0	14,224	0
Amounts reclassified from accumulated other comprehensive income	609	1,935	5,050	5,183
Net current period other comprehensive income (loss) before tax	609	1,935	19,274	5,183
Deferred taxes on current period activity	108	428	4,280	1,102
Net current period other comprehensive income (loss) after tax	501	1,507	14,994	4,081
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(5,219)	(3,823)	(5,219)	(3,823)	(4,756)	(4,592)	(3,939)	(4,108)
Activity
Other comprehensive income (loss) before reclassifications	(463)	116	(627)	285
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive income (loss) before tax	(463)	116	(627)	285
Deferred taxes on current period activity	0	0	0	0
Net current period other comprehensive income (loss) after tax	(463)	116	(627)	285
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	910	1,976	910	1,976	828	901	1,851	763
Activity
Other comprehensive income (loss) before reclassifications	(647)	451	(731)	568
Amounts reclassified from accumulated other comprehensive income	753	(288)	739	290
Net current period other comprehensive income (loss) before tax	106	163	8	858
Deferred taxes on current period activity	24	38	(1)	(355)
Net current period other comprehensive income (loss) after tax	82	125	9	1,213
Foreign currency forward contract | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	1,691	1,545	1,691	1,545	1,420	1,263	1,582	959
Activity
Other comprehensive income (loss) before reclassifications	354	121	602	(206)
Amounts reclassified from accumulated other comprehensive income	(3)	(169)	(47)	250
Net current period other comprehensive income (loss) before tax	351	(48)	555	44
Deferred taxes on current period activity	80	(11)	127	(542)
Net current period other comprehensive income (loss) after tax	271	(37)	428	586
Precious Metal Contracts [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(779)	431	(779)	431	(458)	79	269	(196)
Activity
Other comprehensive income (loss) before reclassifications	(730)	330	(1,366)	774
Amounts reclassified from accumulated other comprehensive income	343	(119)	281	40
Net current period other comprehensive income (loss) before tax	(387)	211	(1,085)	814
Deferred taxes on current period activity	(66)	49	(227)	187
Net current period other comprehensive income (loss) after tax	(321)	162	(858)	627
Copper swaps | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(2)	0	(2)	0	$ (134)	$ (441)	$ 0	$ 0
Activity
Other comprehensive income (loss) before reclassifications	(271)	0	33	0
Amounts reclassified from accumulated other comprehensive income	413	0	505	0
Net current period other comprehensive income (loss) before tax	142	0	538	0
Deferred taxes on current period activity	10	0	99	0
Net current period other comprehensive income (loss) after tax	$ 132	$ 0	$ 439	$ 0

Stock-based Compensation Expe_3

Stock-based Compensation Expense (Detail)	9 Months Ended
	Sep. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.47%
Dividend yield	0.70%
Volatility	31.70%
Expected term (in years)	5 years 2 months 12 days

Stock-based Compensation Expe_4

Stock-based Compensation Expense Textual (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2.5	$ 4.2	$ 8.7	$ 9.4
Document Period End Date			Sep. 27, 2019
Unearned Compensation	$ 11.2		$ 11.2
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			73,461
Weighted average exercise price on SARs granted in period			$ 58.30
Grant date fair value per unit (in usd per share)			17.76
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in usd per share)			$ 69.84
Vesting period			3 years
Stock Compensation Plan [Member] | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			63,665
Grant date fair value per unit (in usd per share)			$ 58.30
Vesting period			3 years
Director Equity Plan [Domain] | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			11,048
Grant date fair value per unit (in usd per share)			$ 68.79
Vesting period			1 year

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	$ 3,151	$ 2,156
Foreign Currency Forward Contract	478	246
Precious Metal Swaps	18	237
Copper Swaps	10	0
Total Financial Assets	3,657	2,639
Deferred Compensation Investment Related Liability	3,151	2,156
Foreign Currency Forward Contract	45	432
Precious Metal Swaps	1,001	135
Copper Swaps	41	569
Total Financial Liabilities	4,238	3,292
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	3,151	2,156
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Assets	3,151	2,156
Deferred Compensation Investment Related Liability	3,151	2,156
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Liabilities	3,151	2,156
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	0	0
Foreign Currency Forward Contract	478	246
Precious Metal Swaps	18	237
Copper Swaps	10	0
Total Financial Assets	506	483
Deferred Compensation Investment Related Liability	0	0
Foreign Currency Forward Contract	45	432
Precious Metal Swaps	1,001	135
Copper Swaps	41	569
Total Financial Liabilities	1,087	1,136
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	0	0
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Assets	0	0
Deferred Compensation Investment Related Liability	0	0
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Liabilities	$ 0	$ 0

Derivative Instruments and He_3

Derivative Instruments and Hedging Activity (Details - Not designated as hedges) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2019	Sep. 28, 2018	Sep. 27, 2019	Sep. 28, 2018	Dec. 31, 2018
Derivative Instruments, Gain (Loss)
Gain on foreign currency derivatives recorded in earnings, net	$ 300	$ 400	$ 300	$ 1,600
Not designated as hedging instrument | Prepaid expenses | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Notional amount, asset	4,316		4,316		$ 8,767
Fair value, asset	95		95		244
Not designated as hedging instrument | Other liabilities and accrued items | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Notional amount, liability	18,644		18,644		8,771
Fair value, liability	$ 36		$ 36		$ 249

Derivative Instruments and He_4

Derivative Instruments and Hedging Activity (Details - Designated as hedges) - Designated as hedging instrument - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional amount total	$ 24,522	$ 39,714
Fair value total	640	648
Prepaid expenses
Derivative [Line Items]
Notional amount, asset	9,755	5,258
Fair value, asset	397	239
Prepaid expenses | Foreign currency forward contract | Yen
Derivative [Line Items]
Notional amount, asset	1,000	0
Fair value, asset	14	0
Prepaid expenses | Foreign currency forward contract | Euro
Derivative [Line Items]
Notional amount, asset	8,082	725
Fair value, asset	369	2
Prepaid expenses | Precious metal swaps
Derivative [Line Items]
Notional amount, asset	156	4,533
Fair value, asset	4	237
Prepaid expenses | Copper swaps
Derivative [Line Items]
Notional amount, asset	517	0
Fair value, asset	10	0
Other assets
Derivative [Line Items]
Notional amount, asset	626	0
Fair value, asset	14	0
Other assets | Precious metal swaps
Derivative [Line Items]
Notional amount, asset	626	0
Fair value, asset	14	0
Other liabilities and accrued items
Derivative [Line Items]
Notional amount, liability	12,972	34,456
Fair value, liability	999	887
Other liabilities and accrued items | Foreign currency forward contract | Yen
Derivative [Line Items]
Notional amount, liability	944	1,264
Fair value, liability	9	17
Other liabilities and accrued items | Foreign currency forward contract | Euro
Derivative [Line Items]
Notional amount, liability	0	19,158
Fair value, liability	0	166
Other liabilities and accrued items | Precious metal swaps
Derivative [Line Items]
Notional amount, liability	9,342	2,864
Fair value, liability	949	135
Other liabilities and accrued items | Copper swaps
Derivative [Line Items]
Notional amount, liability	2,686	11,170
Fair value, liability	41	569
Other long-term liabilities | Precious metal swaps
Derivative [Line Items]
Notional amount, liability	1,169	0
Fair value, liability	$ 52	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activity (Details - Reclassificatoins from AOCI) - Designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 27, 2019	Sep. 27, 2019
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ 753	$ 739
Net sales | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	(3)	(47)
Cost of sales | Precious metal swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	343	281
Cost of sales | Copper swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ 413	$ 505

Contingencies (Detail)

Contingencies (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 27, 2019	Dec. 31, 2018
Loss Contingency [Abstract]
Accrual for Environmental Loss Contingencies, Significant Assumptions	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.
Undiscounted reserve balance	$ 6.1	$ 6.5