Materion (MTRN) 10-Q 23 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 26, 2020shares
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 26, 2020
Document Transition Report	false
Entity File Number	001-15885
Entity Registrant Name	MATERION CORPORATION
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
Entity Address, Postal Zip Code	44124
City Area Code	216
Local Phone Number	486-4200
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	MTRN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	20,322,225
Entity Central Index Key	0001104657
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Income Statement [Abstract]
Net sales	$ 271,468	$ 297,843	$ 549,414	$ 599,284
Cost of sales	223,378	228,249	455,749	460,378
Gross margin	48,090	69,594	93,665	138,906
Selling, general, and administrative expense	32,852	39,891	63,596	79,955
Research and development expense	4,502	4,062	8,687	7,802
Goodwill impairment charges	0	0	9,053	0
Held for sale impairment charges	0	0	1,713	0
Restructuring charges	2,387	0	4,551	0
Other - net	(357)	2,891	1,922	7,012
Operating profit	8,706	22,750	4,143	44,137
Other non-operating (income) expense - net	(851)	3,112	(1,795)	3,357
Interest Expense-net	1,259	500	1,505	966
Income before income taxes	8,298	19,138	4,433	39,814
Income tax expense	1,620	3,598	858	7,368
Net income	$ 6,678	$ 15,540	$ 3,575	$ 32,446
Basic earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.33	$ 0.76	$ 0.18	$ 1.60
Diluted earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.32	$ 0.75	$ 0.17	$ 1.57
Weighted-average number of shares of common stock outstanding:
Basic (in shares)	20,317	20,383	20,350	20,326
Diluted (in shares)	20,554	20,666	20,587	20,635

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 6,678	$ 15,540	$ 3,575	$ 32,446
Other comprehensive income (loss):
Foreign currency translation adjustment	1,166	339	293	(164)
Derivative and hedging activity, net of tax	347	(1,000)	(507)	(73)
Pension and post-employment benefit adjustment, net of tax	89	13,953	105	14,493
Net current period other comprehensive (loss) income after tax	1,602	13,292	(109)	14,256
Comprehensive income	$ 8,280	$ 28,832	$ 3,466	$ 46,702

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 265,068	$ 125,007
Accounts receivable, net	146,527	154,751
Inventories, net	209,847	190,390
Prepaid and other current assets	29,191	21,839
Assets held for sale	5,811	0
Total current assets	656,444	491,987
Deferred income taxes	1,669	1,666
Property, plant, and equipment	924,620	916,965
Less allowances for depreciation, depletion, and amortization	(685,355)	(684,689)
Property, plant, and equipment—net	239,265	232,276
Operating lease right-of-use assets	48,942	23,413
Intangible assets	5,732	6,380
Other assets	19,169	17,937
Goodwill	70,001	79,011
Total Assets	1,041,222	852,670
Current liabilities
Short-term debt	151,731	868
Accounts payable	52,093	43,206
Salaries and wages	24,367	41,167
Other liabilities and accrued items	33,429	32,477
Income taxes	1,779	1,342
Unearned revenue	3,003	3,380
Liabilities held for sale	2,126	0
Total current liabilities	268,528	122,440
Other long-term liabilities	10,117	11,560
Operating lease liabilities	44,830	18,091
Finance lease liabilities	16,939	17,424
Retirement and post-employment benefits	32,389	32,466
Unearned income	57,799	32,891
Long-term income taxes	3,508	3,451
Deferred income taxes	2,172	2,410
Long-term debt	0	1,260
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 June 26 and December 31)	256,756	249,674
Retained earnings	588,803	589,888
Common stock in treasury	(198,726)	(186,845)
Accumulated other comprehensive loss	(45,571)	(45,462)
Other equity	3,678	3,422
Total shareholders' equity	604,940	610,677
Total Liabilities and Shareholders’ Equity	$ 1,041,222	$ 852,670

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands, $ / shares in Thousands	Jun. 26, 2020	Dec. 31, 2019
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 ($)	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Cash flows from operating activities:
Net income	$ 3,575,000	$ 32,446,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, depletion, and amortization	23,522,000	22,607,000
Amortization of deferred financing costs in interest expense	364,000	472,000
Stock-based compensation expense (non-cash)	3,966,000	3,541,000
Deferred income tax expense (benefit)	(234,000)	4,578,000
Net pension curtailments and settlements	94,000	3,296,000
Held for sale impairment charges	10,766,000	0
Changes in assets and liabilities:
Decrease (increase) in accounts receivable	5,331,000	(11,778,000)
Decrease (increase) in inventory	(20,585,000)	1,306,000
Decrease (increase) in prepaid and other current assets	(7,264,000)	(588,000)
Increase (decrease) in accounts payable and accrued expenses	(7,634,000)	(18,813,000)
Increase (decrease) in unearned revenue	(257,000)	(88,000)
Increase (decrease) in interest and taxes payable	1,058,000	(1,130,000)
Increase (decrease) in unearned income due to customer prepayments	26,713,000	0
Domestic pension plan contributions	0	(3,000,000)
Other-net	(2,982,000)	(2,803,000)
Net cash provided by operating activities	36,433,000	30,046,000
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(32,034,000)	(13,833,000)
Payments for mine development	0	1,591,000
Proceeds from sale of property, plant, and equipment	33,000	15,000
Net cash used in investing activities	(32,001,000)	(15,409,000)
Cash flows from financing activities:
Short-term debt under revolving credit agreement	150,000,000	0
Repayment of long-term debt	(428,000)	(397,000)
Principal payments under finance lease obligations	626,000	599,000
Cash dividends paid	(4,582,000)	(4,368,000)
Repurchase of common stock	(6,766,000)	(199,000)
Payments of withholding taxes for stock-based compensation awards	(2,025,000)	(4,763,000)
Net cash provided by (used in) financing activities	135,573,000	(10,326,000)
Effects of exchange rate changes	56,000	(100,000)
Net change in cash and cash equivalents	140,061,000	4,211,000
Cash and cash equivalents at beginning of period	125,007,000	70,645,000
Cash and cash equivalents at end of period	$ 265,068,000	$ 74,856,000

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, 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	32,446			0	32,446	0	0	0
Other comprehensive income (loss)	10,960			0	0	0	10,960	0
Net pension curtailments and settlements	3,296			0	0	0	3,296	0
Cumulative effect of accounting change	(179)			0	(179)	0	0	0
Cash dividends declared	(4,368)			0	(4,368)	0	0	0
Stock-based compensation activity (in shares)		247	247
Stock-based compensation activity	3,541			11,046	(62)	(7,443)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(87)	(87)
Payments of withholding taxes for stock-based compensation awards	(4,763)			0	0	(4,763)	0	0
Repurchase of shares (in shares)		(5)	(5)
Repurchase of shares	(199)			0	0	(199)	0	0
Directors' deferred compensation	145			35	0	607	0	(497)
Stock Issued During Period Value Directors Deferred Compensation, Shares		2	2
Ending balance (in shares) at Jun. 28, 2019		20,399
Ending balances (in Treasury shares) at Jun. 28, 2019			(6,749)
Ending balances at Jun. 28, 2019	594,785			245,785	576,211	(187,224)	(43,978)	3,991
Beginning balance (in shares) at Mar. 29, 2019		20,354
Beginning balances (in Treasury shares) at Mar. 29, 2019			(6,794)
Beginning balances at Mar. 29, 2019	566,877			241,480	562,941	(184,812)	(57,270)	4,538
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,540			0	15,540	0	0	0
Other comprehensive income (loss)	9,996			0	0	0	9,996	0
Net pension curtailments and settlements	3,296			0	0	0	3,296	0
Cash dividends declared	(2,243)			0	(2,243)	0	0	0
Stock-based compensation activity (in shares)		55	55
Stock-based compensation activity	1,994			4,287	(27)	(2,266)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(12)	(12)
Payments of withholding taxes for stock-based compensation awards	(785)			0	0	(785)	0	0
Directors' deferred compensation	110			18	0	639	0	(547)
Stock Issued During Period Value Directors Deferred Compensation, Shares		2	2
Ending balance (in shares) at Jun. 28, 2019		20,399
Ending balances (in Treasury shares) at Jun. 28, 2019			(6,749)
Ending balances at Jun. 28, 2019	594,785			245,785	576,211	(187,224)	(43,978)	3,991
Beginning balance (in shares) at Dec. 31, 2019		20,404
Beginning balances (in Treasury shares) at Dec. 31, 2019			(6,744)
Beginning balances at Dec. 31, 2019	610,677			249,674	589,888	(186,845)	(45,462)	3,422
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,575			0	3,575	0	0	0
Other comprehensive income (loss)	(109)			0	0	0	(109)	0
Net pension curtailments and settlements	94
Cash dividends declared	(4,582)			0	(4,582)	0	0	0
Stock-based compensation activity (in shares)		110	110
Stock-based compensation activity	4,057			7,037	(78)	(2,902)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		(36)	(36)
Payments of withholding taxes for stock-based compensation awards	(2,025)			0	0	(2,025)	0	0
Repurchase of shares (in shares)		(158)	(158)
Repurchase of shares	(6,766)			0	0	(6,766)	0	0
Directors' deferred compensation	113			45	0	(188)	0	256
Stock Issued During Period Value Directors Deferred Compensation, Shares		2	2
Ending balance (in shares) at Jun. 26, 2020		20,322
Ending balances (in Treasury shares) at Jun. 26, 2020			(6,826)
Ending balances at Jun. 26, 2020	604,940			256,756	588,803	(198,726)	(45,571)	3,678
Beginning balance (in shares) at Mar. 27, 2020		20,310
Beginning balances (in Treasury shares) at Mar. 27, 2020			(6,838)
Beginning balances at Mar. 27, 2020	596,478			253,967	584,505	(198,311)	(47,173)	3,490
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,678			0	6,678	0	0	0
Other comprehensive income (loss)	1,602			0	0	0	1,602	0
Cash dividends declared	(2,337)			0	(2,337)	0	0	0
Stock-based compensation activity (in shares)		11	11
Stock-based compensation activity	2,473			2,775	(43)	(259)	0	0
Payments of withholding taxes for stock-based compensation awards (in shares)		0	0
Payments of withholding taxes for stock-based compensation awards	(10)			0	0	(10)	0	0
Directors' deferred compensation	56			14	0	(146)	0	188
Stock Issued During Period Value Directors Deferred Compensation, Shares		1	1
Ending balance (in shares) at Jun. 26, 2020		20,322
Ending balances (in Treasury shares) at Jun. 26, 2020			(6,826)
Ending balances at Jun. 26, 2020	$ 604,940			$ 256,756	$ 588,803	$ (198,726)	$ (45,571)	$ 3,678

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (per share)	$ 0.115	$ 0.110	$ 0.225	$ 0.215

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 26, 2020
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 2020 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 2019 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 June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 is effective for fiscal years beginning after December 15, 2019, including interim periods within such fiscal years. Early adoption is permitted. The Company adopted this guidance as of January 1, 2020, and the adoption did not have a material effect on the Company’s consolidated financial statements. Accounts receivable were net of an allowance for credit losses of $0.7 million and $0.4 million at June 26, 2020 and December 31, 2019, respectively. The change in the allowance for credit losses includes expense and net write-offs, none of which is significant.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 26, 2020
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 Advanced Materials Precision Coatings Other Total Second Quarter 2020 Net sales $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Intersegment sales (213) 8,997 — — 8,784 Operating profit (loss) 8,244 4,370 2,091 (5,999) 8,706 Second Quarter 2019 Net sales $ 135,231 $ 133,238 $ 29,374 $ — $ 297,843 Intersegment sales 6 19,260 — — 19,266 Operating profit (loss) 19,328 6,139 3,937 (6,654) 22,750 First Six Months 2020 Net sales $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 Intersegment sales 2 18,188 — — 18,190 Operating profit (loss) 13,035 9,155 (7,501) (10,546) 4,143 First Six Months 2019 Net sales $ 262,344 $ 277,263 $ 59,677 $ — $ 599,284 Intersegment sales 15 36,473 — — 36,488 Operating profit (loss) 38,286 13,219 6,014 (13,382) 44,137 The following table disaggregates revenue for each segment by end market for the second quarter and first six months of 2020 and 2019, respectively: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Second Quarter 2020 End Market Semiconductor $ 1,537 $ 123,908 $ 232 $ — $ 125,677 Industrial 23,831 8,419 2,574 — 34,824 Aerospace and Defense 17,952 1,650 4,119 — 23,721 Consumer Electronics 9,956 21 3,404 — 13,381 Automotive 16,415 1,186 7 — 17,608 Energy 5,590 9,327 — — 14,917 Telecom and Data Center 12,586 788 — — 13,374 Other 13,747 4,809 9,410 — 27,966 Total $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Second Quarter 2019 End Market Semiconductor $ 1,303 $ 101,634 $ 93 $ — $ 103,030 Industrial 28,585 7,704 3,842 — 40,131 Aerospace and Defense 26,046 1,125 4,750 — 31,921 Consumer Electronics 22,663 500 4,430 — 27,593 Automotive 16,564 1,669 365 — 18,598 Energy 11,303 16,027 — — 27,330 Telecom and Data Center 18,244 713 — — 18,957 Other 10,523 3,866 15,894 — 30,283 Total $ 135,231 $ 133,238 $ 29,374 $ — $ 297,843 (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total First Six Months 2020 End Market Semiconductor $ 2,443 $ 244,727 $ 243 $ — $ 247,413 Industrial 47,171 16,781 5,671 — 69,623 Aerospace and Defense 32,158 3,077 9,228 — 44,463 Consumer Electronics 24,651 138 6,946 — 31,735 Automotive 34,579 3,266 24 — 37,869 Energy 11,019 32,795 — — 43,814 Telecom and Data Center 22,575 1,658 — — 24,233 Other 26,085 7,831 16,348 — 50,264 Total $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 First Six Months 2019 End Market Semiconductor $ 3,268 $ 206,725 $ 205 $ — $ 210,198 Industrial 55,015 15,632 7,992 — 78,639 Aerospace and Defense 53,120 2,618 9,622 — 65,360 Consumer Electronics 36,218 705 7,916 — 44,839 Automotive 37,277 3,023 587 — 40,887 Energy 22,397 38,224 — — 60,621 Telecom and Data Center 35,836 914 — — 36,750 Other 19,213 9,422 33,355 — 61,990 Total $ 262,344 $ 277,263 $ 59,677 $ — $ 599,284 Intersegment sales are eliminated in consolidation.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 26, 2020
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 June 26, 2020. 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 June 26, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $29.2 million. Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) June 26, 2020 December 31, 2019 $ change % change Accounts receivable, trade $ 141,465 $ 141,168 $ 297 — % Unbilled receivables 5,218 13,583 (8,365) (62) % Unearned revenue 3,003 3,380 (377) (11) % 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 second quarter and first six months of 2020. 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 $3.1 million of the unearned amounts as revenue during the first six months of 2020. 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	6 Months Ended
	Jun. 26, 2020
Other Income and Expenses [Abstract]
Other-net	Other-net Other-net for the second quarter and first six months of 2020 and 2019 is summarized as follows: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Metal consignment fees $ 2,037 $ 2,225 $ 4,266 $ 5,316 Amortization of intangible assets 106 368 294 758 Foreign currency (gain) loss (2,486) 307 (2,548) 384 Net loss on disposal of fixed assets 9 118 55 142 Other items (23) (127) (145) 412 Total $ (357) $ 2,891 $ 1,922 $ 7,012

Restructuring

Restructuring	6 Months Ended
	Jun. 26, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring In the first half of 2020, the Company initiated a restructuring plan in its Performance Alloys and Composites (PAC) segment to close its Warren, Michigan and Fremont, California locations. Costs associated with the plan totaled $2.4 million and $4.6 million in the second quarter and first six months of 2020, respectively. In the second quarter of 2020, these costs included $0.9 million of severance associated with approximately 60 employees and $1.5 million of facility and other related costs. Included in restructuring charges for the first six months of 2020 was $1.4 million of severance associated with approximately 60 employees and $3.1 million of facility and other related costs. Remaining severance payments of $1.2 million and facility costs of $0.4 million related to these initiatives are reflected within Other liabilities and accrued items in the Consolidated Balance Sheets. The Company expects to incur additional costs related to these initiatives of approximately $4 million in the remainder of 2020.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 26, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the second quarter of 2020 and 2019 was 19.5% and 18.8%, respectively, and 19.4% and 18.5% for the first six months of 2020 and 2019, respectively. The effective tax rate for each period is lower than the statutory tax rate primarily due to the impact of percentage depletion and the research and development credit. Additionally, the effective tax rate for the first six months of 2020 included a net discrete income tax expense of $0.8 million, primarily related to an impairment of goodwill. The effective tax rate for the first six months of 2019 included a net discrete income tax benefit of $0.5 million, primarily related to excess tax benefits from stock-based compensation awards. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, and modifications to the net interest deduction limitations. While the Company continues to examine the impacts the CARES Act may have on its business, it does not expect it will have a material impact to its consolidated financial statements. On July 9, 2020, the U.S. Treasury Department issued final tax regulations related to the foreign-derived intangible income and global intangible low-taxed income (GILTI) provisions. Also, on July 20, 2020 the U.S. Treasury Department released final tax regulations permitting a taxpayer to elect to exclude from its GILTI inclusion items of income subject to a high effective rate of foreign tax. The Company is currently assessing the impact of the new legislation to its consolidated financial statements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 26, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share (EPS) The following table sets forth the computation of basic and diluted EPS: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands, except per share amounts) 2020 2019 2020 2019 Numerator for basic and diluted EPS: Net income $ 6,678 $ 15,540 $ 3,575 $ 32,446 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,317 20,383 20,350 20,326 Effect of dilutive securities: Stock appreciation rights 36 76 36 92 Restricted stock units 63 76 80 77 Performance-based restricted stock units 138 131 121 140 Diluted potential common shares 237 283 237 309 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,554 20,666 20,587 20,635 Basic EPS $ 0.33 $ 0.76 $ 0.18 $ 1.60 Diluted EPS $ 0.32 $ 0.75 $ 0.17 $ 1.57 Adjusted weighted-average shares outstanding-diluted excludes securities totaling 191,500 and 84,509 for the quarters ended June 26, 2020 and June 28, 2019, respectively, and 230,893 and 144,154 for the six months ended June 26, 2020 and June 28, 2019, respectively. These securities primarily related to restricted stock units and stock appreciation rights with fair market values and exercise prices less than the average market price of the Company's common shares and were excluded from the dilution calculation as the effect would have been anti-dilutive.

Inventories

Inventories	6 Months Ended
	Jun. 26, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories on the Consolidated Balance Sheets are summarized as follows: June 26, December 31, (Thousands) 2020 2019 Raw materials and supplies $ 54,720 $ 35,612 Work in process 172,678 177,780 Finished goods 30,304 25,506 Subtotal $ 257,702 $ 238,898 Less: LIFO reserve balance 47,855 48,508 Inventories $ 209,847 $ 190,390 The liquidation of last in, first out (LIFO) inventory layers increased cost of sales by $0.1 million in the second quarter and first six months of both 2020 and 2019. 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 $333.9 million as of June 26, 2020 versus $309.3 million as of December 31, 2019.

Held for Sale

Held for Sale	6 Months Ended
	Jun. 26, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Held for Sale In the first six months of 2020, the Company committed to a plan to sell its Large Area Coatings (LAC) reporting unit within the Precision Coatings segment and determined that it met the criteria to be classified as held for sale. Therefore, its assets and liabilities have been presented as held for sale in the Consolidated Balance Sheet as of June 26, 2020. Assets and liabilities classified as held for sale are measured at the lower of carrying value or fair value less costs to sell. Before measuring the fair value less costs to sell of the disposal group as a whole, the Company first reviewed individual assets and liabilities to determine if any fair value adjustments were required. The Company recorded a goodwill impairment charge of $9.1 million in the first half of 2020 to write-off the remaining balance of goodwill for the LAC reporting unit. The Company determined fair value based on its expected proceeds to be received, which it concluded is most representative of the value of the assets. The Company then estimated the fair value of the disposal group as a whole, less costs to sell, and compared the fair value to the remaining carrying value. Based on this review, the Company recorded a $1.7 million asset impairment loss in the first six months of 2020. No additional impairment charges were recorded in the second quarter of 2020. The assets and liabilities of the LAC reporting unit classified as held for sale at June 26, 2020 were as follows: (Thousands) Accounts receivable, net $ 2,987 Inventories, net 1,305 Prepaid and other current assets 8 Property, plant, and equipment - net 2,508 Operating lease, right-of-use assets 716 Impairment on carrying value (1,713) Assets held for sale $ 5,811 Accounts payable $ 870 Salaries and wages 245 Other liabilities and accrued items 228 Operating lease liabilities 728 Other long term liabilities 55 Liabilities held for sale $ 2,126

Goodwill

Goodwill	6 Months Ended
	Jun. 26, 2020
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, 2019 $ 1,899 $ 50,190 $ 26,922 $ 79,011 Impairment charge — — (9,053) (9,053) Other — 43 — 43 Balance at June 26, 2020 $ 1,899 $ 50,233 $ 17,869 $ 70,001 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.

Customer Prepayments

Customer Prepayments	6 Months Ended
	Jun. 26, 2020
Customer Prepayments [Abstract]
Customer Prepayments Investment Agreement [Text Block]	Customer Prepayments The Company entered into an investment agreement with a customer to procure equipment to manufacture product for the customer. The customer will make prepayments to the Company in the amount of approximately $70 million in the aggregate to enable the Company to purchase and install certain equipment and make necessary infrastructure improvements to supply product to the customer. The Company will own the equipment and be responsible for operating and maintenance costs. The prepayment from the customer will be applied when commercial production of the product is sold and delivered to the customer in connection with a master supply agreement. Accordingly, $31.4 million of prepayments are classified as Unearned Income in the Consolidated Balance Sheet, of which $19.6 million were received during the second quarter of 2020, and the liability is expected to be settled as commercial shipments are made.

Leases

Leases	6 Months Ended
	Jun. 26, 2020
Leases [Abstract]
Leases of Lessee Disclosure	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 June 26, 2020 was 13.57 years and 19.37 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 June 26, 2020 was 6.41% and 5.31%, respectively. The components of operating and finance lease cost for the second quarter and first six months of 2020 and 2019 were as follows: Second Quarter Ended Six Months Ended (Thousands) June 26, 2020 June 28, 2019 June 26, 2020 June 28, 2019 Components of lease expense Operating lease cost $ 2,274 $ 2,291 $ 4,532 $ 5,003 Finance lease cost Amortization of right-of-use assets 350 354 701 710 Interest on lease liabilities 238 259 482 522 Total lease cost $ 2,862 $ 2,904 $ 5,715 $ 6,235 Operating lease expense amounted to $2.3 million and $4.5 million during the second quarter and first six months of 2020, respectively, compared to $2.3 million and $5.0 million, respectively, during the same periods of 2019. 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 June 26, 2020 and December 31, 2019 was as follows: June 26, Dec. 31, (Thousands) 2020 2019 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 48,942 $ 23,413 Other liabilities and accrued items 5,298 6,542 Operating lease liabilities 44,830 18,091 Finance Leases Property, plant, and equipment $ 26,258 $ 26,069 Allowances for depreciation, depletion, and amortization (4,035) (3,570) Finance lease assets, net $ 22,223 $ 22,499 Other liabilities and accrued items $ 1,305 $ 1,265 Finance lease liabilities 16,939 17,424 Total principal payable on finance leases $ 18,244 $ 18,689 Future maturities of the Company's lease liabilities as of June 26, 2020 are as follows: Finance Operating (Thousands) Leases Leases 2020 $ 1,119 $ 3,986 2021 2,238 7,841 2022 2,238 6,846 2023 1,528 6,548 2024 1,174 4,704 2025 and thereafter 21,126 46,967 Total lease payments 29,423 76,892 Less amount of lease payment representing interest 11,179 26,764 Total present value of lease payments $ 18,244 $ 50,128 Supplemental cash flow information related to leases for the first six months of 2020 and 2019 were as follows: Six Months Ended (Thousands) June 26, 2020 June 28, 2019 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,275 $ 7,710 Operating cash flows from finance leases 482 522 Financing cash flows from finance leases 626 599

Pensions and Other Post-employm

Pensions and Other Post-employment Benefits	6 Months Ended
	Jun. 26, 2020
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 second quarter and first six months of 2020 and 2019 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 Second Quarter Ended Second Quarter Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Components of net periodic benefit cost (credit) Service cost $ — $ 1,418 $ 15 $ 18 Interest cost 1,215 1,347 53 99 Expected return on plan assets (2,205) (2,167) — — Amortization of prior service cost (benefit) — 122 (374) (375) Amortization of net loss (gain) 284 627 (83) (23) Net periodic benefit (credit) cost $ (706) $ 1,347 $ (389) $ (281) Net pension settlements/curtailments 94 3,296 — — Total net benefit cost $ (612) $ 4,643 $ (389) $ (281) Pension Benefits Other Benefits Six Months Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Components of net periodic benefit cost (credit) Service cost $ — $ 2,758 $ 31 $ 35 Interest cost 2,429 2,904 107 199 Expected return on plan assets (4,410) (4,290) — — Amortization of prior service cost (benefit) — 242 (749) (749) Amortization of net loss (gain) 568 1,431 (166) (46) Net periodic benefit (credit) cost $ (1,413) $ 3,045 $ (777) $ (561) Net pension settlements/curtailments 94 3,296 — — Total net benefit cost $ (1,319) $ 6,341 $ (777) $ (561) The Company did not make any contributions to its domestic defined benefit plan in the first six months of 2020 and made contributions of $3.0 million in the first six months of 2019. 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 (income) expense.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 26, 2020
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 second quarter and first six months of 2020 and 2019 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 March 27, 2020 $ 1,214 $ (841) $ (330) $ 43 $ (41,330) $ (5,886) $ (47,173) Other comprehensive (loss) income before reclassifications (201) (411) 426 (186) — 1,166 980 Amounts reclassified from accumulated other comprehensive income 8 491 132 631 70 — 701 Net current period other comprehensive income (loss) before tax (193) 80 558 445 70 1,166 1,681 Deferred taxes (44) 18 124 98 (19) — 79 Net current period other comprehensive income (loss) after tax (149) 62 434 347 89 1,166 1,602 Balance at June 26, 2020 $ 1,065 $ (779) $ 104 $ 390 $ (41,241) $ (4,720) $ (45,571) Balance at March 29, 2019 $ 1,663 $ (24) $ 189 $ 1,828 $ (54,003) $ (5,095) $ (57,270) Other comprehensive income (loss) before reclassifications (269) (563) (580) (1,412) 14,224 339 13,151 Amounts reclassified from accumulated other comprehensive income (46) (1) 163 116 3,781 — 3,897 Net current period other comprehensive income (loss) before tax (315) (564) (417) (1,296) 18,005 339 17,048 Deferred taxes (72) (130) (94) (296) 4,052 — 3,756 Net current period other comprehensive income (loss) after tax (243) (434) (323) (1,000) 13,953 339 13,292 Balance at June 28, 2019 $ 1,420 $ (458) $ (134) $ 828 $ (40,050) $ (4,756) $ (43,978) 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, 2019 $ 1,324 $ (452) $ 25 $ 897 $ (41,346) $ (5,013) $ (45,462) Other comprehensive (loss) income before reclassifications (343) (1,234) (352) (1,929) — 293 (1,636) Amounts reclassified from accumulated other comprehensive income 7 809 453 1,269 46 — 1,315 Net current period other comprehensive income (loss) before tax (336) (425) 101 (660) 46 293 (321) Deferred taxes (77) (98) 22 (153) (59) — (212) Net current period other comprehensive income (loss) after tax (259) (327) 79 (507) 105 293 (109) Balance at June 26, 2020 $ 1,065 $ (779) $ 104 $ 390 $ (41,241) $ (4,720) $ (45,571) Balance at December 31, 2018 $ 1,263 $ 79 $ (441) $ 901 $ (54,543) $ (4,592) $ (58,234) Other comprehensive (loss) income before reclassifications 248 (636) 304 (84) 14,224 (164) 13,976 Amounts reclassified from accumulated other comprehensive income (44) (62) 92 (14) 4,441 — 4,427 Net current period other comprehensive income (loss) before tax 204 (698) 396 (98) 18,665 (164) 18,403 Deferred taxes 47 (161) 89 (25) 4,172 — 4,147 Net current period other comprehensive income (loss) after tax 157 (537) 307 (73) 14,493 (164) 14,256 Balance at June 28, 2019 $ 1,420 $ (458) $ (134) $ 828 $ (40,050) $ (4,756) $ (43,978) 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 Q for additional details on cash flow hedges.

Stock-based Compensation Expens

Stock-based Compensation Expense	6 Months Ended
	Jun. 26, 2020
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 $3.1 million and $4.1 million in the second quarter and first six months of 2020, respectively, compared to $3.5 million and $6.2 million, respectively, in the same periods of 2019. The Company granted 64,636 stock appreciation rights (SARs) to certain employees during the first six months of 2020. The weighted-average exercise price per share and weighted-average fair value per share of the SARs granted during the six months ended June 26, 2020 were $50.95 and $13.67, 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 1.41 % Dividend yield 0.9 % Volatility 31.8 % Expected term (in years) 4.8 The Company granted 62,841 stock-settled restricted stock units (RSUs) to certain employees and 15,976 to non-employee directors during the first six months of 2020. 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 $49.34 and $48.42 for stock-settled RSUs granted to employees and non-employee directors, respectively, during the six months ended June 26, 2020. 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 six months of 2020. The weighted-average fair value of the stock-settled PRSUs was $57.65 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.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 26, 2020
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 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 June 26, 2020 and December 31, 2019: (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices Significant Significant 2020 2019 2020 2019 2020 2019 2020 2019 Financial Assets Deferred compensation investments $ 2,625 $ 3,391 $ 2,625 $ 3,391 $ — $ — $ — $ — Foreign currency forward contracts 2,220 188 — — 2,220 188 — — Precious metal swaps — 35 — — — 35 — — Copper swaps 137 61 — — 137 61 — — Total $ 4,982 $ 3,675 $ 2,625 $ 3,391 $ 2,357 $ 284 $ — $ — Financial Liabilities Deferred compensation liability $ 2,625 $ 3,391 $ 2,625 $ 3,391 $ — $ — $ — $ — Foreign currency forward contracts 523 211 — — 523 211 — — Precious metal swaps 1,013 623 — — 1,013 623 — — Copper swaps 3 28 — — 3 28 — — Total $ 4,164 $ 4,253 $ 2,625 $ 3,391 $ 1,539 $ 862 $ — $ — 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 June 26, 2020 and December 31, 2019. The Company's deferred compensation investments and liabilities are based on the fair value of the investments corresponding to the employees’ investment selections, primarily in mutual funds, based on quoted prices in active markets for identical assets. Deferred compensation investments are primarily presented in Other assets. Deferred compensation liabilities are primarily presented in Other long-term liabilities.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	6 Months Ended
	Jun. 26, 2020
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, the hedge contracts may limit the benefits from a weakening U.S. dollar. The use of forward contracts locks in a firm rate and eliminates any downside from an adverse rate movement as well as any benefit from a favorable rate movement. The Company may from time to time choose to hedge with options or a tandem of options, known as a collar. These hedging techniques can limit or eliminate the downside risk but can allow for some or all of the benefit from a favorable rate movement to be realized. Unlike a forward contract, a premium is paid for an option; collars, which are a combination of a put and call option, may have a net premium but can be structured to be cash neutral. The Company will primarily hedge with forward contracts due to the relationship between the cash outlay and the level of risk. The use of foreign currency derivative contracts is governed by policies approved by the Audit Committee of the Board of Directors. A team consisting of senior financial managers reviews the estimated exposure levels, as defined by budgets, forecasts, and other internal data, and determines the timing, amounts, and instruments to use to hedge exposures. 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. Foreign currency contracts are typically layered in at different times for a specified exposure period in order to minimize the impact of market 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. The Company may also enter into hedges to mitigate the risk relating to the prices of the metals which we process or refine. 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. The Company also uses copper in its 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 the Company's price exposure to copper is generally in balance, there can be a lag between the change in the Company's cost and the pass-through to its customers, resulting in higher or lower margins in a given period. To mitigate this impact, the Company hedges 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 to maturity. The Company does not engage in derivative trading activities and does not use derivatives for speculative purposes. The Company only uses hedge contracts that are denominated in the same currency or 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. The ineffective portion of a derivative's fair value, if any, is recognized in earnings immediately. If a derivative is not a hedge, changes in the fair value are adjusted through income. The fair values of the outstanding derivatives are recorded on the balance sheet as assets (if the derivatives are in a gain position) or liabilities (if the derivatives are in a loss position). The fair values will also be classified as short-term or long-term depending upon their maturity dates. The 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 June 26, 2020 and December 31, 2019: June 26, 2020 December 31, 2019 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 152,803 $ 2,198 $ 13,734 $ 95 Other liabilities and accrued items 9,786 63 5,757 16 These outstanding foreign currency derivatives were related to balance sheet hedges, intercompany loans, and a foreign currency hedge for the purchase of Optics Balzers AG (Optics Balzers), which the Company agreed to buy in June 2020. See Note T for additional information. Other-net included $1.7 million and $2.3 million of foreign currency gains relating to these derivatives during the second quarter and first six months of 2020, 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 June 26, 2020 and December 31, 2019: June 26, 2020 December 31, 2019 (Thousands) Notional Fair Notional Fair Prepaid expenses Foreign currency forward contracts - yen $ — $ — $ 1,025 $ 10 Foreign currency forward contracts - euro 5,084 22 3,466 83 Precious metal swaps — — 1,116 34 Copper swaps 2,235 137 1,951 61 Total 7,319 159 7,558 188 Other assets Precious metal swaps — — 157 1 Other liabilities and accrued items Foreign currency forward contracts - yen 2,031 25 2,355 12 Foreign currency forward contracts - euro 11,974 420 15,686 183 Precious metal swaps 5,910 1,004 7,034 618 Copper swaps 293 3 1,266 28 Total 20,208 1,452 26,341 841 Other long-term liabilities Foreign currency forward contracts - yen 112 1 — — Foreign currency forward contracts - euro 553 14 — — Precious metal swaps 172 9 149 5 Total 837 24 149 5 Total $ 28,364 $ 1,317 $ 34,205 $ 657 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 June 26, 2020 to the Consolidated Statements of Income within the next 15-month period. Refer to Note N 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 second quarter and first six months of 2020 and 2019: Second Quarter Ended Second Quarter Ended (Thousands) June 26, 2020 June 28, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ 8 $ (46) Precious metal swaps Cost of sales 491 (1) Copper swaps Cost of sales 132 163 Total $ 631 $ 116 Six Months Ended Six Months Ended (Thousands) June 26, 2020 June 28, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ 7 $ (44) Precious metal swaps Cost of sales 809 (62) Copper swaps Cost of sales 453 92 Total $ 1,269 $ (14)

Contingencies

Contingencies	6 Months Ended
	Jun. 26, 2020
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 R ("Contingencies and Commitments") in the Company's 2019 Annual Report on Form 10-K. Two beryllium cases were outstanding as of June 26, 2020. 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 $6.0 million and $5.9 million at June 26, 2020 and December 31, 2019, respectively. Environmental projects tend to be long-term, and the final actual remediation costs may differ from the amounts currently recorded.

Debt

Debt	6 Months Ended
	Jun. 26, 2020
Debt Disclosure [Abstract]
Short-term Debt	Debt In the second quarter of 2020, the Company borrowed $150.0 million under its revolving credit facility, and the remaining borrowing capacity as of June 26, 2020 was $179.1 million. The Company has the option to repay or borrow additional funds under the revolving credit facility until the maturity date in 2024.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 26, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event In July 2020, the Company completed the acquisition of Optics Balzers, an industry leader in thin film optical coatings, with a final transaction value of approximately $160 million, including the assumption of debt. The transaction was funded with cash on hand, including a portion of the $150.0 million borrowed under our revolving credit facility in the second quarter of 2020.

Basis of Accounting (Policies)

Basis of Accounting (Policies)	6 Months Ended
	Jun. 26, 2020
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 2020 consolidated financial statement presentation.

New Pronouncements (Policies)

New Pronouncements (Policies)	6 Months Ended
	Jun. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	New Pronouncements Adopted: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 is effective for fiscal years beginning after December 15, 2019, including interim periods within such fiscal years. Early adoption is permitted. The Company adopted this guidance as of January 1, 2020, and the adoption did not have a material effect on the Company’s consolidated financial statements. Accounts receivable were net of an allowance for credit losses of $0.7 million and $0.4 million at June 26, 2020 and December 31, 2019, respectively. The change in the allowance for credit losses includes expense and net write-offs, none of which is significant.

Revenue Recognition Accounting

Revenue Recognition Accounting Policy (Policies)	6 Months Ended
	Jun. 26, 2020
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)	6 Months Ended
	Jun. 26, 2020
Segment Reporting [Abstract]
Segment Reporting	(Thousands) Performance Advanced Materials Precision Coatings Other Total Second Quarter 2020 Net sales $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Intersegment sales (213) 8,997 — — 8,784 Operating profit (loss) 8,244 4,370 2,091 (5,999) 8,706 Second Quarter 2019 Net sales $ 135,231 $ 133,238 $ 29,374 $ — $ 297,843 Intersegment sales 6 19,260 — — 19,266 Operating profit (loss) 19,328 6,139 3,937 (6,654) 22,750 First Six Months 2020 Net sales $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 Intersegment sales 2 18,188 — — 18,190 Operating profit (loss) 13,035 9,155 (7,501) (10,546) 4,143 First Six Months 2019 Net sales $ 262,344 $ 277,263 $ 59,677 $ — $ 599,284 Intersegment sales 15 36,473 — — 36,488 Operating profit (loss) 38,286 13,219 6,014 (13,382) 44,137
Disaggregation of Revenue	The following table disaggregates revenue for each segment by end market for the second quarter and first six months of 2020 and 2019, respectively: (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total Second Quarter 2020 End Market Semiconductor $ 1,537 $ 123,908 $ 232 $ — $ 125,677 Industrial 23,831 8,419 2,574 — 34,824 Aerospace and Defense 17,952 1,650 4,119 — 23,721 Consumer Electronics 9,956 21 3,404 — 13,381 Automotive 16,415 1,186 7 — 17,608 Energy 5,590 9,327 — — 14,917 Telecom and Data Center 12,586 788 — — 13,374 Other 13,747 4,809 9,410 — 27,966 Total $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Second Quarter 2019 End Market Semiconductor $ 1,303 $ 101,634 $ 93 $ — $ 103,030 Industrial 28,585 7,704 3,842 — 40,131 Aerospace and Defense 26,046 1,125 4,750 — 31,921 Consumer Electronics 22,663 500 4,430 — 27,593 Automotive 16,564 1,669 365 — 18,598 Energy 11,303 16,027 — — 27,330 Telecom and Data Center 18,244 713 — — 18,957 Other 10,523 3,866 15,894 — 30,283 Total $ 135,231 $ 133,238 $ 29,374 $ — $ 297,843 (Thousands) Performance Alloys and Composites Advanced Materials Precision Coatings Other Total First Six Months 2020 End Market Semiconductor $ 2,443 $ 244,727 $ 243 $ — $ 247,413 Industrial 47,171 16,781 5,671 — 69,623 Aerospace and Defense 32,158 3,077 9,228 — 44,463 Consumer Electronics 24,651 138 6,946 — 31,735 Automotive 34,579 3,266 24 — 37,869 Energy 11,019 32,795 — — 43,814 Telecom and Data Center 22,575 1,658 — — 24,233 Other 26,085 7,831 16,348 — 50,264 Total $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 First Six Months 2019 End Market Semiconductor $ 3,268 $ 206,725 $ 205 $ — $ 210,198 Industrial 55,015 15,632 7,992 — 78,639 Aerospace and Defense 53,120 2,618 9,622 — 65,360 Consumer Electronics 36,218 705 7,916 — 44,839 Automotive 37,277 3,023 587 — 40,887 Energy 22,397 38,224 — — 60,621 Telecom and Data Center 35,836 914 — — 36,750 Other 19,213 9,422 33,355 — 61,990 Total $ 262,344 $ 277,263 $ 59,677 $ — $ 599,284

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 26, 2020
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) June 26, 2020 December 31, 2019 $ change % change Accounts receivable, trade $ 141,465 $ 141,168 $ 297 — % Unbilled receivables 5,218 13,583 (8,365) (62) % Unearned revenue 3,003 3,380 (377) (11) %

Other-net (Tables)

Other-net (Tables)	6 Months Ended
	Jun. 26, 2020
Other Income and Expenses [Abstract]
Summary of Other-Net Expense	Other-net for the second quarter and first six months of 2020 and 2019 is summarized as follows: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Metal consignment fees $ 2,037 $ 2,225 $ 4,266 $ 5,316 Amortization of intangible assets 106 368 294 758 Foreign currency (gain) loss (2,486) 307 (2,548) 384 Net loss on disposal of fixed assets 9 118 55 142 Other items (23) (127) (145) 412 Total $ (357) $ 2,891 $ 1,922 $ 7,012

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 26, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted EPS: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands, except per share amounts) 2020 2019 2020 2019 Numerator for basic and diluted EPS: Net income $ 6,678 $ 15,540 $ 3,575 $ 32,446 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,317 20,383 20,350 20,326 Effect of dilutive securities: Stock appreciation rights 36 76 36 92 Restricted stock units 63 76 80 77 Performance-based restricted stock units 138 131 121 140 Diluted potential common shares 237 283 237 309 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,554 20,666 20,587 20,635 Basic EPS $ 0.33 $ 0.76 $ 0.18 $ 1.60 Diluted EPS $ 0.32 $ 0.75 $ 0.17 $ 1.57

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 26, 2020
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories on the Consolidated Balance Sheets are summarized as follows: June 26, December 31, (Thousands) 2020 2019 Raw materials and supplies $ 54,720 $ 35,612 Work in process 172,678 177,780 Finished goods 30,304 25,506 Subtotal $ 257,702 $ 238,898 Less: LIFO reserve balance 47,855 48,508 Inventories $ 209,847 $ 190,390

Held for Sale (Tables)

Held for Sale (Tables)	6 Months Ended
	Jun. 26, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The assets and liabilities of the LAC reporting unit classified as held for sale at June 26, 2020 were as follows: (Thousands) Accounts receivable, net $ 2,987 Inventories, net 1,305 Prepaid and other current assets 8 Property, plant, and equipment - net 2,508 Operating lease, right-of-use assets 716 Impairment on carrying value (1,713) Assets held for sale $ 5,811 Accounts payable $ 870 Salaries and wages 245 Other liabilities and accrued items 228 Operating lease liabilities 728 Other long term liabilities 55 Liabilities held for sale $ 2,126

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 26, 2020
Goodwill Disclosure [Abstract]
Schedule of 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, 2019 $ 1,899 $ 50,190 $ 26,922 $ 79,011 Impairment charge — — (9,053) (9,053) Other — 43 — 43 Balance at June 26, 2020 $ 1,899 $ 50,233 $ 17,869 $ 70,001

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 26, 2020
Leases [Abstract]
Lease, Cost	The components of operating and finance lease cost for the second quarter and first six months of 2020 and 2019 were as follows: Second Quarter Ended Six Months Ended (Thousands) June 26, 2020 June 28, 2019 June 26, 2020 June 28, 2019 Components of lease expense Operating lease cost $ 2,274 $ 2,291 $ 4,532 $ 5,003 Finance lease cost Amortization of right-of-use assets 350 354 701 710 Interest on lease liabilities 238 259 482 522 Total lease cost $ 2,862 $ 2,904 $ 5,715 $ 6,235
Schedule Of Supplemental Balance Sheet Information Related To Leases	Supplemental balance sheet information related to the Company's operating and finance leases as of June 26, 2020 and December 31, 2019 was as follows: June 26, Dec. 31, (Thousands) 2020 2019 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 48,942 $ 23,413 Other liabilities and accrued items 5,298 6,542 Operating lease liabilities 44,830 18,091 Finance Leases Property, plant, and equipment $ 26,258 $ 26,069 Allowances for depreciation, depletion, and amortization (4,035) (3,570) Finance lease assets, net $ 22,223 $ 22,499 Other liabilities and accrued items $ 1,305 $ 1,265 Finance lease liabilities 16,939 17,424 Total principal payable on finance leases $ 18,244 $ 18,689
Schedule Of Future Minimum Lease Payments For Finance Leases And Operating Leases	Future maturities of the Company's lease liabilities as of June 26, 2020 are as follows: Finance Operating (Thousands) Leases Leases 2020 $ 1,119 $ 3,986 2021 2,238 7,841 2022 2,238 6,846 2023 1,528 6,548 2024 1,174 4,704 2025 and thereafter 21,126 46,967 Total lease payments 29,423 76,892 Less amount of lease payment representing interest 11,179 26,764 Total present value of lease payments $ 18,244 $ 50,128
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow information related to leases for the first six months of 2020 and 2019 were as follows: Six Months Ended (Thousands) June 26, 2020 June 28, 2019 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,275 $ 7,710 Operating cash flows from finance leases 482 522 Financing cash flows from finance leases 626 599

Pensions and Other Post-emplo_2

Pensions and Other Post-employment Benefits (Tables)	6 Months Ended
	Jun. 26, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The following is a summary of the net periodic benefit cost for the second quarter and first six months of 2020 and 2019 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 Second Quarter Ended Second Quarter Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Components of net periodic benefit cost (credit) Service cost $ — $ 1,418 $ 15 $ 18 Interest cost 1,215 1,347 53 99 Expected return on plan assets (2,205) (2,167) — — Amortization of prior service cost (benefit) — 122 (374) (375) Amortization of net loss (gain) 284 627 (83) (23) Net periodic benefit (credit) cost $ (706) $ 1,347 $ (389) $ (281) Net pension settlements/curtailments 94 3,296 — — Total net benefit cost $ (612) $ 4,643 $ (389) $ (281) Pension Benefits Other Benefits Six Months Ended Six Months Ended June 26, June 28, June 26, June 28, (Thousands) 2020 2019 2020 2019 Components of net periodic benefit cost (credit) Service cost $ — $ 2,758 $ 31 $ 35 Interest cost 2,429 2,904 107 199 Expected return on plan assets (4,410) (4,290) — — Amortization of prior service cost (benefit) — 242 (749) (749) Amortization of net loss (gain) 568 1,431 (166) (46) Net periodic benefit (credit) cost $ (1,413) $ 3,045 $ (777) $ (561) Net pension settlements/curtailments 94 3,296 — — Total net benefit cost $ (1,319) $ 6,341 $ (777) $ (561)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 26, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in the components of accumulated other comprehensive income, including the amounts reclassified, for the second quarter and first six months of 2020 and 2019 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 March 27, 2020 $ 1,214 $ (841) $ (330) $ 43 $ (41,330) $ (5,886) $ (47,173) Other comprehensive (loss) income before reclassifications (201) (411) 426 (186) — 1,166 980 Amounts reclassified from accumulated other comprehensive income 8 491 132 631 70 — 701 Net current period other comprehensive income (loss) before tax (193) 80 558 445 70 1,166 1,681 Deferred taxes (44) 18 124 98 (19) — 79 Net current period other comprehensive income (loss) after tax (149) 62 434 347 89 1,166 1,602 Balance at June 26, 2020 $ 1,065 $ (779) $ 104 $ 390 $ (41,241) $ (4,720) $ (45,571) Balance at March 29, 2019 $ 1,663 $ (24) $ 189 $ 1,828 $ (54,003) $ (5,095) $ (57,270) Other comprehensive income (loss) before reclassifications (269) (563) (580) (1,412) 14,224 339 13,151 Amounts reclassified from accumulated other comprehensive income (46) (1) 163 116 3,781 — 3,897 Net current period other comprehensive income (loss) before tax (315) (564) (417) (1,296) 18,005 339 17,048 Deferred taxes (72) (130) (94) (296) 4,052 — 3,756 Net current period other comprehensive income (loss) after tax (243) (434) (323) (1,000) 13,953 339 13,292 Balance at June 28, 2019 $ 1,420 $ (458) $ (134) $ 828 $ (40,050) $ (4,756) $ (43,978) 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, 2019 $ 1,324 $ (452) $ 25 $ 897 $ (41,346) $ (5,013) $ (45,462) Other comprehensive (loss) income before reclassifications (343) (1,234) (352) (1,929) — 293 (1,636) Amounts reclassified from accumulated other comprehensive income 7 809 453 1,269 46 — 1,315 Net current period other comprehensive income (loss) before tax (336) (425) 101 (660) 46 293 (321) Deferred taxes (77) (98) 22 (153) (59) — (212) Net current period other comprehensive income (loss) after tax (259) (327) 79 (507) 105 293 (109) Balance at June 26, 2020 $ 1,065 $ (779) $ 104 $ 390 $ (41,241) $ (4,720) $ (45,571) Balance at December 31, 2018 $ 1,263 $ 79 $ (441) $ 901 $ (54,543) $ (4,592) $ (58,234) Other comprehensive (loss) income before reclassifications 248 (636) 304 (84) 14,224 (164) 13,976 Amounts reclassified from accumulated other comprehensive income (44) (62) 92 (14) 4,441 — 4,427 Net current period other comprehensive income (loss) before tax 204 (698) 396 (98) 18,665 (164) 18,403 Deferred taxes 47 (161) 89 (25) 4,172 — 4,147 Net current period other comprehensive income (loss) after tax 157 (537) 307 (73) 14,493 (164) 14,256 Balance at June 28, 2019 $ 1,420 $ (458) $ (134) $ 828 $ (40,050) $ (4,756) $ (43,978)

Stock-based Compensation Expe_2

Stock-based Compensation Expense Tables (Tables)	6 Months Ended
	Jun. 26, 2020
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 1.41 % Dividend yield 0.9 % Volatility 31.8 % Expected term (in years) 4.8

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 26, 2020
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 June 26, 2020 and December 31, 2019: (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices Significant Significant 2020 2019 2020 2019 2020 2019 2020 2019 Financial Assets Deferred compensation investments $ 2,625 $ 3,391 $ 2,625 $ 3,391 $ — $ — $ — $ — Foreign currency forward contracts 2,220 188 — — 2,220 188 — — Precious metal swaps — 35 — — — 35 — — Copper swaps 137 61 — — 137 61 — — Total $ 4,982 $ 3,675 $ 2,625 $ 3,391 $ 2,357 $ 284 $ — $ — Financial Liabilities Deferred compensation liability $ 2,625 $ 3,391 $ 2,625 $ 3,391 $ — $ — $ — $ — Foreign currency forward contracts 523 211 — — 523 211 — — Precious metal swaps 1,013 623 — — 1,013 623 — — Copper swaps 3 28 — — 3 28 — — Total $ 4,164 $ 4,253 $ 2,625 $ 3,391 $ 1,539 $ 862 $ — $ —

Derivative Instruments and He_2

Derivative Instruments and Hedging Activity Tables (Tables)	6 Months Ended
	Jun. 26, 2020
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 June 26, 2020 and December 31, 2019: June 26, 2020 December 31, 2019 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 152,803 $ 2,198 $ 13,734 $ 95 Other liabilities and accrued items 9,786 63 5,757 16
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 June 26, 2020 and December 31, 2019: June 26, 2020 December 31, 2019 (Thousands) Notional Fair Notional Fair Prepaid expenses Foreign currency forward contracts - yen $ — $ — $ 1,025 $ 10 Foreign currency forward contracts - euro 5,084 22 3,466 83 Precious metal swaps — — 1,116 34 Copper swaps 2,235 137 1,951 61 Total 7,319 159 7,558 188 Other assets Precious metal swaps — — 157 1 Other liabilities and accrued items Foreign currency forward contracts - yen 2,031 25 2,355 12 Foreign currency forward contracts - euro 11,974 420 15,686 183 Precious metal swaps 5,910 1,004 7,034 618 Copper swaps 293 3 1,266 28 Total 20,208 1,452 26,341 841 Other long-term liabilities Foreign currency forward contracts - yen 112 1 — — Foreign currency forward contracts - euro 553 14 — — Precious metal swaps 172 9 149 5 Total 837 24 149 5 Total $ 28,364 $ 1,317 $ 34,205 $ 657
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 second quarter and first six months of 2020 and 2019: Second Quarter Ended Second Quarter Ended (Thousands) June 26, 2020 June 28, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ 8 $ (46) Precious metal swaps Cost of sales 491 (1) Copper swaps Cost of sales 132 163 Total $ 631 $ 116 Six Months Ended Six Months Ended (Thousands) June 26, 2020 June 28, 2019 Hedging relationship Line item Foreign currency forward contracts Net sales $ 7 $ (44) Precious metal swaps Cost of sales 809 (62) Copper swaps Cost of sales 453 92 Total $ 1,269 $ (14)

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	Jun. 26, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 0.7	$ 0.4

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Segment Reporting Information
Net sales	$ 271,468,000	$ 297,843,000	$ 549,414,000	$ 599,284,000
Intersegment sales	8,784,000	19,266,000	18,190,000	36,488,000
Operating profit	8,706,000	22,750,000	4,143,000	44,137,000
Performance Alloys and Composites
Segment Reporting Information
Net sales	101,614,000	135,231,000	200,681,000	262,344,000
Intersegment sales	(213,000)	6,000	2,000	15,000
Operating profit	8,244,000	19,328,000	13,035,000	38,286,000
Advanced Materials
Segment Reporting Information
Net sales	150,108,000	133,238,000	310,273,000	277,263,000
Intersegment sales	8,997,000	19,260,000	18,188,000	36,473,000
Operating profit	4,370,000	6,139,000	9,155,000	13,219,000
Precision Coatings
Segment Reporting Information
Net sales	19,746,000	29,374,000	38,460,000	59,677,000
Intersegment sales	0	0	0	0
Operating profit	2,091,000	3,937,000	(7,501,000)	6,014,000
Other
Segment Reporting Information
Net sales	0	0	0	0
Intersegment sales	0	0	0	0
Operating profit	$ (5,999,000)	$ (6,654,000)	$ (10,546,000)	$ (13,382,000)

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 271,468,000	$ 297,843,000	$ 549,414,000	$ 599,284,000
Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	125,677,000	103,030,000	247,413,000	210,198,000
Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	13,381,000	27,593,000	31,735,000	44,839,000
Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	34,824,000	40,131,000	69,623,000	78,639,000
Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	23,721,000	31,921,000	44,463,000	65,360,000
Energy
Disaggregation of Revenue [Line Items]
Net sales	14,917,000	27,330,000	43,814,000	60,621,000
Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	13,374,000	18,957,000	24,233,000	36,750,000
Automotive
Disaggregation of Revenue [Line Items]
Net sales	17,608,000	18,598,000	37,869,000	40,887,000
Other End Market
Disaggregation of Revenue [Line Items]
Net sales	27,966,000	30,283,000	50,264,000	61,990,000
Performance Alloys and Composites
Disaggregation of Revenue [Line Items]
Net sales	101,614,000	135,231,000	200,681,000	262,344,000
Performance Alloys and Composites | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	1,537,000	1,303,000	2,443,000	3,268,000
Performance Alloys and Composites | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	9,956,000	22,663,000	24,651,000	36,218,000
Performance Alloys and Composites | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	23,831,000	28,585,000	47,171,000	55,015,000
Performance Alloys and Composites | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	17,952,000	26,046,000	32,158,000	53,120,000
Performance Alloys and Composites | Energy
Disaggregation of Revenue [Line Items]
Net sales	5,590,000	11,303,000	11,019,000	22,397,000
Performance Alloys and Composites | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	12,586,000	18,244,000	22,575,000	35,836,000
Performance Alloys and Composites | Automotive
Disaggregation of Revenue [Line Items]
Net sales	16,415,000	16,564,000	34,579,000	37,277,000
Performance Alloys and Composites | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	13,747,000	10,523,000	26,085,000	19,213,000
Advanced Materials
Disaggregation of Revenue [Line Items]
Net sales	150,108,000	133,238,000	310,273,000	277,263,000
Advanced Materials | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	123,908,000	101,634,000	244,727,000	206,725,000
Advanced Materials | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	21,000	500,000	138,000	705,000
Advanced Materials | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	8,419,000	7,704,000	16,781,000	15,632,000
Advanced Materials | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	1,650,000	1,125,000	3,077,000	2,618,000
Advanced Materials | Energy
Disaggregation of Revenue [Line Items]
Net sales	9,327,000	16,027,000	32,795,000	38,224,000
Advanced Materials | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	788,000	713,000	1,658,000	914,000
Advanced Materials | Automotive
Disaggregation of Revenue [Line Items]
Net sales	1,186,000	1,669,000	3,266,000	3,023,000
Advanced Materials | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	4,809,000	3,866,000	7,831,000	9,422,000
Precision Coatings
Disaggregation of Revenue [Line Items]
Net sales	19,746,000	29,374,000	38,460,000	59,677,000
Precision Coatings | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	232,000	93,000	243,000	205,000
Precision Coatings | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	3,404,000	4,430,000	6,946,000	7,916,000
Precision Coatings | Industrial Components
Disaggregation of Revenue [Line Items]
Net sales	2,574,000	3,842,000	5,671,000	7,992,000
Precision Coatings | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	4,119,000	4,750,000	9,228,000	9,622,000
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
Disaggregation of Revenue [Line Items]
Net sales	7,000	365,000	24,000	587,000
Precision Coatings | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	9,410,000	15,894,000	16,348,000	33,355,000
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
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	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Capitalized Contract Cost [Line Items]
Increase (Decrease) in Deferred Revenue	$ (257)	$ (88)
Accounts receivable, trade
Capitalized Contract Cost [Line Items]
Accounts Receivable, Trade	141,465		$ 141,168
Change in Accounts Receivable, Trade	$ 297
Contract Asset Percent Change	0.00%
Unbilled Receivables
Capitalized Contract Cost [Line Items]
Unbilled Contracts Receivable	$ 5,218		13,583
Change in Unbilled Receivables	$ (8,365)
Contract Asset Percent Change	(62.00%)
Unearned revenue
Capitalized Contract Cost [Line Items]
Deferred Revenue	$ 3,003		$ 3,380
Increase (Decrease) in Deferred Revenue	$ (377)
Contract Liability Percent Change	(11.00%)

Revenue Recognition (Details 1)

Revenue Recognition (Details 1) $ in Millions	6 Months Ended
	Jun. 26, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 3.1
Revenue, Remaining Performance Obligation, Amount	$ 29.2

Other-net (Detail)

Other-net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Other Income and Expenses [Abstract]
Metal consignment fees	$ 2,037	$ 2,225	$ 4,266	$ 5,316
Amortization of Intangible Assets	106	368	294	758
Foreign currency (gain) loss	(2,486)	307	(2,548)	384
Net loss on disposal of fixed assets	9	118	55	142
Other items	(23)	(127)	(145)	412
Total	$ (357)	$ 2,891	$ 1,922	$ 7,012

Restructuring (Details)

Restructuring (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020USD ($)Employee	Jun. 28, 2019USD ($)	Jun. 26, 2020USD ($)Employee	Jun. 28, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,387	$ 0	$ 4,551	$ 0
Performance Alloys and Composites
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,400		4,600
Severance Costs	$ 900		$ 1,400
Number of positions eliminated | Employee	60		60
Other Restructuring Costs	$ 1,500		$ 3,100
Restructuring cost, expected	4,000		4,000
Performance Alloys and Composites | Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring facility cost remaining	400		400
Performance Alloys and Composites | Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Remaining severance payments	$ 1,200		$ 1,200

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	19.50%	18.80%	19.40%	18.50%
Effective income tax rate, amount			$ 0.8	$ 0.5

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Numerator For Basic And Diluted EPS:
Net income	$ 6,678	$ 15,540	$ 3,575	$ 32,446
Denominator for basic EPS:
Weighted-average shares outstanding	20,317	20,383	20,350	20,326
Effect of dilutive securities:
Diluted potential common shares (in shares)	237	283	237	309
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding	20,554	20,666	20,587	20,635
Basic EPS (in usd per share)	$ 0.33	$ 0.76	$ 0.18	$ 1.60
Diluted EPS (in usd per share)	$ 0.32	$ 0.75	$ 0.17	$ 1.57
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	36	76	36	92
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	63	76	80	77
Performance Shares
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	138	131	121	140

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - shares	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Out-of-The-Money [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from diluted EPS calculation	191,500	84,509	230,893	144,154

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 54,720	$ 35,612
Work in process	172,678	177,780
Finished goods	30,304	25,506
Subtotal	257,702	238,898
Less: LIFO reserve balance	47,855	48,508
Inventories	$ 209,847	$ 190,390

Inventories (Details 1)

Inventories (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Inventory Disclosure [Abstract]
LIFO liquidation effect	$ 100	$ 100	$ 100	$ 100
Notional Amount of Nonderivative Instruments			$ 333,900		$ 309,300

Held for Sale (Details)

Held for Sale (Details) - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	$ 2,987
Inventories, net	1,305
Prepaid and other current assets	8
Property, plant, and equipment - net	2,508
Operating lease, right-of-use assets	716
Impairment on carrying value	(1,713)
Assets held for sale	5,811	$ 0
Accounts payable	870
Salaries and wages	245
Other liabilities and accrued items	228
Operating lease liabilities	728
Other long term liabilities	55
Liabilities held for sale	$ 2,126	$ 0

Held for Sale (Details Textual)

Held for Sale (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Discontinued Operations and Disposal Groups [Abstract]
Held for sale impairment charges	$ 0	$ 0	$ 1,713	$ 0
Goodwill impairment charges	$ 0	$ 0	$ 9,053	$ 0

Goodwill (Detail)

Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Goodwill [Line Items]
Impairment charge	$ 0	$ 0	$ (9,053)	$ 0
Other			43
Goodwill	70,001		70,001		$ 79,011
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			43
Goodwill	50,233		50,233		50,190
Precision Coatings
Goodwill [Line Items]
Impairment charge			(9,053)
Other			0
Goodwill	$ 17,869		$ 17,869		$ 26,922

Customer Prepayments (Details)

Customer Prepayments (Details) $ in Millions	3 Months Ended
	Jun. 26, 2020USD ($)
Customer Prepayments [Abstract]
Deferred Income	$ 31.4
Future Customer Prepayments	70
Deferred Revenue, Additions	$ 19.6

Components of Lease Expense (De

Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 2,274	$ 2,291	$ 4,532	$ 5,003
Finance Leases
Amortization of right-of-use assets	350	354	701	710
Interest on lease liabilities	238	259	482	522
Total lease cost	$ 2,862	$ 2,904	$ 5,715	$ 6,235

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Operating Leases
Operating lease right-of-use assets	$ 48,942	$ 23,413
Other liabilities and accrued items	5,298	6,542
Operating lease liabilities	44,830	18,091
Finance Leases
Finance lease liabilities	16,939	17,424
Total principal payable on finance leases	18,244	18,689
Property, plant, and equipment	924,620	916,965
Allowances for depreciation, depletion, and amortization	(685,355)	(684,689)
Finance lease assets, net	239,265	232,276
Other liabilities and accrued items	1,305	1,265
Property, Plant and Equipment
Property, plant, and equipment	26,258	26,069
Allowances for depreciation, depletion, and amortization	(4,035)	(3,570)
Finance lease assets, net	$ 22,223	$ 22,499

Future Estimated Minimum Paymen

Future Estimated Minimum Payments Under Finance Leases and Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Finance Leases
2020	$ 1,119
2021	2,238
2022	2,238
2023	1,528
2024	1,174
2025 and thereafter	21,126
Total lease payments	29,423
Less amount of lease payment representing interest	11,179
Total present value of lease payments	18,244	$ 18,689
Operating Leases
2020	3,986
2021	7,841
2022	6,846
2023	6,548
2024	4,704
2025 and thereafter	46,967
Total lease payments	76,892
Less amount of lease payment representing interest	26,764
Total present value of lease payments	$ 50,128

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Related to Leases (Details) - USD ($)	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 7,275,000	$ 7,710,000
Operating cash flows from finance leases	482,000	522,000
Financing cash flows from finance leases	$ 626,000	$ 599,000

Leases (Details Textual)

Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Leases [Abstract]
Operating Lease Term Maximum			25 years
Operating Lease, Weighted Average Remaining Lease Term	13 years 6 months 25 days		13 years 6 months 25 days
Finance Lease, Weighted Average Remaining Lease Term	19 years 4 months 13 days		19 years 4 months 13 days
Operating Lease, Weighted Average Discount Rate, Percent	6.41%		6.41%
Finance Lease, Weighted Average Discount Rate, Percent	5.31%		5.31%
Operating lease expense	$ 2,300	$ 2,300	$ 4,500	$ 5,000

Pensions and Other Post-emplo_3

Pensions and Other Post-employment Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Components of net periodic benefit cost
Net pension settlements/curtailments		$ (3,296)	$ (94)	$ (3,296)
Pension Benefits
Components of net periodic benefit cost
Service cost	$ 0	1,418	0	2,758
Interest cost	1,215	1,347	2,429	2,904
Expected return on plan assets	(2,205)	(2,167)	(4,410)	(4,290)
Amortization of prior service cost (benefit)	0	122	0	242
Amortization of net loss (gain)	284	627	568	1,431
Net periodic benefit (credit) cost	(706)	1,347	(1,413)	3,045
Net pension settlements/curtailments	94	3,296	94	3,296
Total net benefit cost	(612)	4,643	(1,319)	6,341
Other Benefits
Components of net periodic benefit cost
Service cost	15	18	31	35
Interest cost	53	99	107	199
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (benefit)	(374)	(375)	(749)	(749)
Amortization of net loss (gain)	(83)	(23)	(166)	(46)
Net periodic benefit (credit) cost	(389)	(281)	(777)	(561)
Net pension settlements/curtailments	0	0	0	0
Total net benefit cost	$ (389)	$ (281)	$ (777)	$ (561)

Pensions and Other Post-emplo_4

Pensions and Other Post-employment Benefits (Detail 1) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Pension Benefits
Defined Benefit Plan Disclosure
Contributions by employer	$ 0	$ 3,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019	Mar. 27, 2020	Dec. 31, 2019	Mar. 29, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	$ (45,571)	$ (43,978)	$ (45,571)	$ (43,978)	$ (47,173)	$ (45,462)	$ (57,270)	$ (58,234)
Activity
Other comprehensive income (loss) before reclassifications	980	13,151	(1,636)	13,976
Amounts reclassified from accumulated other comprehensive income	701	3,897	1,315	4,427
Net current period other comprehensive income (loss) before tax	1,681	17,048	(321)	18,403
Deferred taxes on current period activity	79	3,756	(212)	4,147
Net current period other comprehensive (loss) income after tax	1,602	13,292	(109)	14,256
Pension and Post Employment Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(41,241)	(40,050)	(41,241)	(40,050)	(41,330)	(41,346)	(54,003)	(54,543)
Activity
Other comprehensive income (loss) before reclassifications	0	14,224	0	14,224
Amounts reclassified from accumulated other comprehensive income	70	3,781	46	4,441
Net current period other comprehensive income (loss) before tax	70	18,005	46	18,665
Deferred taxes on current period activity	(19)	4,052	(59)	4,172
Net current period other comprehensive (loss) income after tax	89	13,953	105	14,493
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(4,720)	(4,756)	(4,720)	(4,756)	(5,886)	(5,013)	(5,095)	(4,592)
Activity
Other comprehensive income (loss) before reclassifications	1,166	339	293	(164)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive income (loss) before tax	1,166	339	293	(164)
Deferred taxes on current period activity	0	0	0	0
Net current period other comprehensive (loss) income after tax	1,166	339	293	(164)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	390	828	390	828	43	897	1,828	901
Activity
Other comprehensive income (loss) before reclassifications	(186)	(1,412)	(1,929)	(84)
Amounts reclassified from accumulated other comprehensive income	631	116	1,269	(14)
Net current period other comprehensive income (loss) before tax	445	(1,296)	(660)	(98)
Deferred taxes on current period activity	98	(296)	(153)	(25)
Net current period other comprehensive (loss) income after tax	347	(1,000)	(507)	(73)
Foreign currency forward contract | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	1,065	1,420	1,065	1,420	1,214	1,324	1,663	1,263
Activity
Other comprehensive income (loss) before reclassifications	(201)	(269)	(343)	248
Amounts reclassified from accumulated other comprehensive income	8	(46)	7	(44)
Net current period other comprehensive income (loss) before tax	(193)	(315)	(336)	204
Deferred taxes on current period activity	(44)	(72)	(77)	47
Net current period other comprehensive (loss) income after tax	(149)	(243)	(259)	157
Precious Metal Contracts [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	(779)	(458)	(779)	(458)	(841)	(452)	(24)	79
Activity
Other comprehensive income (loss) before reclassifications	(411)	(563)	(1,234)	(636)
Amounts reclassified from accumulated other comprehensive income	491	(1)	809	(62)
Net current period other comprehensive income (loss) before tax	80	(564)	(425)	(698)
Deferred taxes on current period activity	18	(130)	(98)	(161)
Net current period other comprehensive (loss) income after tax	62	(434)	(327)	(537)
Copper swaps | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollward]
Accumulated other comprehensive loss	104	(134)	104	(134)	$ (330)	$ 25	$ 189	$ (441)
Activity
Other comprehensive income (loss) before reclassifications	426	(580)	(352)	304
Amounts reclassified from accumulated other comprehensive income	132	163	453	92
Net current period other comprehensive income (loss) before tax	558	(417)	101	396
Deferred taxes on current period activity	124	(94)	22	89
Net current period other comprehensive (loss) income after tax	$ 434	$ (323)	$ 79	$ 307

Stock-based Compensation Expe_3

Stock-based Compensation Expense (Detail)	6 Months Ended
	Jun. 26, 2020$ / sharesshares
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.41%
Dividend yield	0.90%
Volatility	31.80%
Expected term (in years)	4 years 9 months 18 days
Number of shares granted in period | shares	64,636
Grant date fair value per unit (in usd per share) | $ / shares	$ 13.67
Restricted Stock Units (RSUs) | Director Equity Plan [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period | shares	15,976
Grant date fair value per unit (in usd per share) | $ / shares	$ 48.42
Restricted Stock Units (RSUs) | Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period | shares	62,841
Grant date fair value per unit (in usd per share) | $ / shares	$ 49.34

Stock-based Compensation Expe_4

Stock-based Compensation Expense Textual (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3.1	$ 3.5	$ 4.1	$ 6.2
Unearned Compensation	$ 12.6		$ 12.6
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			64,636
Weighted average exercise price on SARs granted in period			$ 50.95
Grant date fair value per unit (in usd per share)			13.67
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in usd per share)			$ 57.65
Vesting period			3 years
Stock Compensation Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			62,841
Grant date fair value per unit (in usd per share)			$ 49.34
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			15,976
Grant date fair value per unit (in usd per share)			$ 48.42
Vesting period			1 year

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	$ 2,625	$ 3,391
Foreign Currency Forward Contract	2,220	188
Precious Metal Swaps	0	35
Copper Swaps	137	61
Total Financial Assets	4,982	3,675
Deferred Compensation Investment Related Liability	2,625	3,391
Foreign Currency Forward Contract	523	211
Precious Metal Swaps	1,013	623
Copper Swaps	3	28
Total Financial Liabilities	4,164	4,253
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Investment Assets	2,625	3,391
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Assets	2,625	3,391
Deferred Compensation Investment Related Liability	2,625	3,391
Foreign Currency Forward Contract	0	0
Precious Metal Swaps	0	0
Copper Swaps	0	0
Total Financial Liabilities	2,625	3,391
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	2,220	188
Precious Metal Swaps	0	35
Copper Swaps	137	61
Total Financial Assets	2,357	284
Deferred Compensation Investment Related Liability	0	0
Foreign Currency Forward Contract	523	211
Precious Metal Swaps	1,013	623
Copper Swaps	3	28
Total Financial Liabilities	1,539	862
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	6 Months Ended
	Jun. 26, 2020	Jun. 26, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss)
Gain on foreign currency derivatives recorded in earnings, net	$ 1,700	$ 2,300
Not designated as hedging instrument | Prepaid expenses | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Notional amount, asset	152,803	152,803	$ 13,734
Fair value, asset	2,198	2,198	95
Not designated as hedging instrument | Other liabilities and accrued items | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Notional amount, liability	9,786	9,786	5,757
Fair value, liability	$ 63	$ 63	$ 16

Derivative Instruments and He_4

Derivative Instruments and Hedging Activity (Details - Designated as hedges) - Designated as hedging instrument - USD ($) $ in Thousands	Jun. 26, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional amount total	$ 28,364	$ 34,205
Fair value total	1,317	657
Prepaid expenses
Derivative [Line Items]
Notional amount, asset	7,319	7,558
Fair value, asset	159	188
Prepaid expenses | Foreign currency forward contract | Yen
Derivative [Line Items]
Notional amount, asset	0	1,025
Fair value, asset	0	10
Prepaid expenses | Foreign currency forward contract | Euro
Derivative [Line Items]
Notional amount, asset	5,084	3,466
Fair value, asset	22	83
Prepaid expenses | Precious metal swaps
Derivative [Line Items]
Notional amount, asset	0	1,116
Fair value, asset	0	34
Prepaid expenses | Copper swaps
Derivative [Line Items]
Notional amount, asset	2,235	1,951
Fair value, asset	137	61
Other assets | Precious metal swaps
Derivative [Line Items]
Notional amount, asset	0	157
Fair value, asset	0	1
Other liabilities and accrued items
Derivative [Line Items]
Notional amount, liability	20,208	26,341
Fair value, liability	1,452	841
Other liabilities and accrued items | Foreign currency forward contract | Yen
Derivative [Line Items]
Notional amount, liability	2,031	2,355
Fair value, liability	25	12
Other liabilities and accrued items | Foreign currency forward contract | Euro
Derivative [Line Items]
Notional amount, liability	11,974	15,686
Fair value, liability	420	183
Other liabilities and accrued items | Precious metal swaps
Derivative [Line Items]
Notional amount, liability	5,910	7,034
Fair value, liability	1,004	618
Other liabilities and accrued items | Copper swaps
Derivative [Line Items]
Notional amount, liability	293	1,266
Fair value, liability	3	28
Other long-term liabilities
Derivative [Line Items]
Notional amount, liability	837	149
Fair value, liability	24	5
Other long-term liabilities | Foreign currency forward contract | Yen
Derivative [Line Items]
Notional amount, liability	112	0
Fair value, liability	1	0
Other long-term liabilities | Foreign currency forward contract | Euro
Derivative [Line Items]
Notional amount, liability	553	0
Fair value, liability	14	0
Other long-term liabilities | Precious metal swaps
Derivative [Line Items]
Notional amount, liability	172	149
Fair value, liability	$ 9	$ 5

Derivative Instruments and He_5

Derivative Instruments and Hedging Activity (Details - Reclassificatoins from AOCI) - Designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Jun. 26, 2020	Jun. 28, 2019
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ 631	$ 116	$ 1,269	$ (14)
Net sales | Foreign currency forward contract
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	8	(46)	7	(44)
Cost of sales | Precious metal swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	491	(1)	809	(62)
Cost of sales | Copper swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ 132	$ 163	$ 453	$ 92

Derivative Instruments and He_6

Derivative Instruments and Hedging Activity Derivative Instruments and Hedging Activity (Details - Foreign Currency Derivatives Recorded in Earnings) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 26, 2020	Jun. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ 1.7	$ 2.3

Contingencies (Detail)

Contingencies (Detail) $ in Millions	6 Months Ended
	Jun. 26, 2020USD ($)claim	Dec. 31, 2019USD ($)
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	$ 5.9
Loss Contingency, Pending Claims, Number | claim	2

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 26, 2020	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Debt Disclosure [Abstract]
Short-term debt	$ 151,731	$ 151,731		$ 868
Short-term debt under revolving credit agreement	150,000	150,000	$ 0
Line of Credit Facility, Remaining Borrowing Capacity	$ 179,100	$ 179,100

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 26, 2020	Jun. 26, 2020	Jun. 28, 2019	Jul. 17, 2020
Subsequent Events [Abstract]
Short-term debt under revolving credit agreement	$ 150,000	$ 150,000	$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Business Acquisition, Transaction Costs				$ 160,000