Materion (MTRN) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jul. 02, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 2, 2021
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	20,437,646
Entity Central Index Key	0001104657
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
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
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Income Statement [Abstract]
Net sales	$ 370,999	$ 271,468	$ 725,385	$ 549,414
Cost of sales	301,418	224,513	589,008	457,889
Gross margin	69,581	46,955	136,377	91,525
Selling, general, and administrative expense	38,060	32,852	74,836	63,596
Research and development expense	6,604	4,502	12,810	8,687
Goodwill impairment charges	0	0	0	9,053
Asset impairment charges	0	0	0	1,713
Restructuring expense (income)	0	2,387	(378)	4,551
Other - net	4,194	(357)	8,668	1,922
Operating profit	20,723	7,571	40,441	2,003
Other non-operating income—net	(1,277)	(851)	(2,553)	(1,795)
Interest expense—net	858	1,259	1,619	1,505
Income before income taxes	21,142	7,163	41,375	2,293
Income tax expense	3,274	1,360	6,740	368
Net income	$ 17,868	$ 5,803	$ 34,635	$ 1,925
Basic earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.87	$ 0.29	$ 1.70	$ 0.09
Diluted earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.87	$ 0.28	$ 1.68	$ 0.09
Weighted-average number of shares of common stock outstanding:
Basic (in shares)	20,429	20,317	20,402	20,350
Diluted (in shares)	20,651	20,554	20,647	20,587

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 17,868	$ 5,803	$ 34,635	$ 1,925
Other comprehensive income (loss):
Foreign currency translation adjustment	3,193	1,166	(5,664)	293
Derivative and hedging activity, net of tax	(273)	347	972	(507)
Pension and post-employment benefit adjustment, net of tax	83	89	247	105
Other comprehensive income (loss)	3,003	1,602	(4,445)	(109)
Comprehensive income	$ 20,871	$ 7,405	$ 30,190	$ 1,816

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 24,345	$ 25,878
Accounts receivable, net	179,326	166,447
Inventories, net	290,739	250,778
Prepaid and other current assets	22,155	20,896
Total current assets	516,565	463,999
Deferred income taxes	1,909	3,134
Property, plant, and equipment	1,052,464	998,312
Less allowances for depreciation, depletion, and amortization	(702,903)	(688,626)
Property, plant, and equipment, net	349,561	309,686
Operating lease, right-of-use assets	58,833	62,089
Intangible assets, net	50,851	54,672
Other assets	21,724	19,364
Goodwill	142,054	144,916
Total Assets	1,141,497	1,057,860
Current liabilities
Short-term debt	435	1,937
Accounts payable	80,600	55,640
Salaries and wages	27,505	18,809
Other liabilities and accrued items	36,930	40,887
Income taxes	4,837	1,898
Unearned revenue	10,920	7,713
Total current liabilities	161,227	126,884
Other long-term liabilities	17,477	17,002
Operating lease liabilities	53,736	56,761
Finance lease liabilities	18,410	20,539
Retirement and post-employment benefits	40,001	41,877
Unearned income	95,290	86,761
Deferred income taxes	14,817	15,864
Long-term debt	58,838	36,542
Shareholders’ equity
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 both July 2nd and December 31st)	268,205	258,642
Retained earnings	660,851	631,058
Common stock in treasury	(208,854)	(199,187)
Accumulated other comprehensive loss	(43,084)	(38,639)
Other equity	4,583	3,756
Total shareholders' equity	681,701	655,630
Total Liabilities and Shareholders’ Equity	$ 1,141,497	$ 1,057,860

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands, $ / shares in Thousands	Jul. 02, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Serial preferred stock, par value (in dollars per share)	$ 0	$ 0
Serial preferred stock, shares authorized	5,000	5,000
Serial preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	60,000	60,000
Common stock, shares, issued	27,148	27,148

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020
Cash flows from operating activities:
Net income	$ 34,635	$ 1,925
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	19,063	23,522
Amortization of deferred financing costs in interest expense	364	364
Stock-based compensation expense (non-cash)	3,512	3,966
Deferred income tax expense (benefit)	367	(723)
Impairment charges	0	10,766
Changes in assets and liabilities:
Accounts receivable	(13,941)	5,331
Inventory	(40,651)	(18,446)
Prepaid and other current assets	(1,718)	(7,264)
Accounts payable and accrued expenses	28,403	(7,634)
Unearned revenue	3,246	(257)
Interest and taxes payable	2,868	1,058
Unearned income due to customer prepayments	8,043	26,713
Other-net	(126)	(2,888)
Net cash provided by operating activities	44,065	36,433
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(57,712)	(32,034)
Proceeds from sale of property, plant, and equipment	603	33
Net cash used in investing activities	(57,109)	(32,001)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit agreement, net	22,500	150,000
Repayment of long-term debt	(1,654)	(428)
Principal payments under finance lease obligations	(1,512)	(626)
Cash dividends paid	(4,791)	(4,582)
Repurchase of common stock	0	(6,766)
Payments of withholding taxes for stock-based compensation awards	(3,021)	(2,025)
Net cash provided by financing activities	11,522	135,573
Effects of exchange rate changes	(11)	56
Net change in cash and cash equivalents	(1,533)	140,061
Cash and cash equivalents at beginning of period	25,878	125,007
Cash and cash equivalents at end of period	$ 24,345	$ 265,068

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, 2019		20,404
Beginning balances (in Treasury shares) at Dec. 31, 2019			(6,744)
Beginning balances at Dec. 31, 2019	$ 645,743			$ 249,674	$ 624,954	$ (186,845)	$ (45,462)	$ 3,422
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,925			0	1,925	0	0	0
Other comprehensive income (loss)	(109)			0	0	0	(109)	0
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		(2,902)	0	0
Stock-based compensation activity					(78)
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 (in shares)		2	2
Directors' deferred compensation	113			45	0	(188)	0	256
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	638,356			256,756	622,219	(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	630,769			253,967	618,796	(198,311)	(47,173)	3,490
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,803			0	5,803	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		(259)	0	0
Stock-based compensation activity					(43)
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 (in shares)		1	1
Directors' deferred compensation	56			14	0	(146)	0	188
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	638,356			256,756	622,219	(198,726)	(45,571)	3,678
Beginning balance (in shares) at Dec. 31, 2020		20,328
Beginning balances (in Treasury shares) at Dec. 31, 2020			(6,820)
Beginning balances at Dec. 31, 2020	655,630			258,642	631,058	(199,187)	(38,639)	3,756
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,635			0	34,635	0	0	0
Other comprehensive income (loss)	(4,445)			0	0	0	(4,445)	0
Cash dividends declared	(4,791)			0	(4,791)	0	0	0
Stock-based compensation activity (in shares)		152	152
Stock-based compensation activity	3,512			9,474		(5,911)	0	0
Stock-based compensation activity					(51)
Payments of withholding taxes for stock-based compensation awards (in shares)		(45)	(45)
Payments of withholding taxes for stock-based compensation awards	(3,021)			0	0	(3,021)	0	0
Directors' deferred compensation (in shares)		3	3
Directors' deferred compensation	181			89	0	(735)	0	827
Ending balance (in shares) at Jul. 02, 2021		20,438
Ending balances (in Treasury shares) at Jul. 02, 2021			(6,710)
Ending balances at Jul. 02, 2021	681,701			268,205	660,851	(208,854)	(43,084)	4,583
Beginning balance (in shares) at Apr. 02, 2021		20,414
Beginning balances (in Treasury shares) at Apr. 02, 2021			(6,734)
Beginning balances at Apr. 02, 2021	661,336			264,940	645,468	(206,845)	(46,087)	3,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,868			0	17,868	0	0	0
Other comprehensive income (loss)	3,003			0	0	0	3,003	0
Cash dividends declared	(2,453)			0	(2,453)	0	0	0
Stock-based compensation activity (in shares)		25	25
Stock-based compensation activity	2,039			3,215		(1,144)	0	0
Stock-based compensation activity					(32)
Payments of withholding taxes for stock-based compensation awards (in shares)		(2)	(2)
Payments of withholding taxes for stock-based compensation awards	(183)			0	0	(183)	0	0
Directors' deferred compensation (in shares)		1	1
Directors' deferred compensation	91			50	0	(682)	0	723
Ending balance (in shares) at Jul. 02, 2021		20,438
Ending balances (in Treasury shares) at Jul. 02, 2021			(6,710)
Ending balances at Jul. 02, 2021	$ 681,701			$ 268,205	$ 660,851	$ (208,854)	$ (43,084)	$ 4,583

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (per share)	$ 0.120	$ 0.115	$ 0.235	$ 0.225

Accounting Policies

Accounting Policies	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation: 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 2021 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 2020 Annual Report on Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year. Business Combinations: The Company records assets acquired and liabilities assumed at the date of acquisition at their respective fair values. Any intangible assets acquired in a business combination are recognized and reported apart from goodwill. Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. The amounts reflected in Note B to the Consolidated Financial Statements are the results of a preliminary purchase price allocation and will be updated upon completion of the final valuation. The Company is required to complete the purchase price allocation within 12 months of the acquisition date. If such completion of the allocation results in a change in the preliminary values, the measurement period adjustment will be recognized in the period in which the adjustment amount is determined. Change in Accounting Principle: During the fourth quarter of 2020, the Company elected to change its method for valuing its inventories at locations that previously used the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) method. The Company believes that the FIFO method is preferable as it improves comparability with its most similar peers, it more closely resembles the physical flow of its inventory (i.e., it provides better matching of revenues and expenses), and it results in uniformity across a significant majority of the Company’s inventory. The effects of the change in accounting principle from LIFO to FIFO were retrospectively applied. As a result of the retrospective application of the change in accounting principle, certain financial statement line items in the Company’s consolidated balance sheet as of June 26, 2020 and the consolidated statements of income, comprehensive income, shareholders’ equity, and cash flows for the three and six months ended June 26, 2020 were adjusted as necessary. For further information, refer to the Company's 2020 Annual Report on Form 10-K. The following tables reflect the impact to the financial statement line items as a result of the change in accounting principle for the prior periods presented in the accompanying financial statements: Consolidated Statement of Income (Thousands except per share amounts) Second Quarter Ended Six Months Ended June 26, 2020 June 26, 2020 Selected Items As Reported As Adjusted Adjustment As Reported As Adjusted Adjustment Cost of sales $ 223,378 $ 224,513 $ 1,135 $ 455,749 $ 457,889 $ 2,140 Gross margin 48,090 46,955 (1,135) 93,665 91,525 (2,140) Operating profit 8,706 7,571 (1,135) 4,143 2,003 (2,140) Income before income taxes 8,298 7,163 (1,135) 4,433 2,293 (2,140) Income tax expense 1,620 1,360 (260) 858 368 (490) Net income 6,678 5,803 (875) 3,575 1,925 (1,650) Basic earnings per share: Net income per share of common stock $ 0.33 $ 0.29 $ (0.04) $ 0.18 $ 0.09 $ (0.09) Diluted earnings per share: Net income per share of common stock $ 0.32 $ 0.28 $ (0.04) $ 0.17 $ 0.09 $ (0.08) Consolidated Statement of Comprehensive Income (Thousands) Second Quarter Ended Six Months Ended June 26, 2020 June 26, 2020 Selected Items As Reported As Adjusted Adjustment As Reported As Adjusted Adjustment Net income $ 6,678 $ 5,803 $ (875) $ 3,575 $ 1,925 $ (1,650) Comprehensive income 8,280 7,405 (875) 3,466 1,816 (1,650) Consolidated Statement of Cash Flows (Thousands) Six Months Ended June 26, 2020 Selected Items As Reported As Adjusted Adjustment Net income $ 3,575 $ 1,925 $ (1,650) Deferred income tax benefit (234) (723) (489) Increase in inventory (20,585) (18,446) 2,139 New Pronouncements Adopted: In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing various exceptions, such as the exception to the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items. The amendments in this update also simplify the accounting for income taxes related to income-based franchise taxes and require that an entity reflect enacted tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company adopted the standard on January 1, 2021. The adoption did not materially impact the Company's financial statements or disclosures. New Accounting Guidance Issued and Not Yet Adopted: In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This guidance is intended

Acquisition

Acquisition	6 Months Ended
	Jul. 02, 2021
Business Combinations [Abstract]
Business Combination Disclosure	AcquisitionBusiness acquisitions have been accounted for using the acquisition method, with acquired assets and assumed liabilities recognized at their respective fair values as of the acquisition date. The cost in excess of the net assets of the business acquired is included in goodwill. On July 17, 2020, the Company completed the acquisition of Optics Balzers AG (Optics Balzers), an industry leader in thin film optical coatings. The purchase price for Optics Balzers was $136.1 million, including the assumption of $22.5 million of debt. The transaction was funded with cash on hand. Based on the fair value of assets acquired and liabilities assumed, goodwill of $70.8 million and identifiable intangible assets of $49.3 million were recorded. Goodwill associated with this acquisition is not tax deductible. This acquisition is being reported in our Precision Optics segment and the results of Optics Balzers are not material to our Consolidated Financial Statements. No material measurement period adjustments have been recorded during the second quarter or first six months of 2021. As of July 2, 2021, the purchase price allocation remains preliminary as the Company completes its assessments of income taxes.

Segment Reporting

Segment Reporting	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company has the following reportable segments: Performance Alloys and Composites, Advanced Materials, Precision Optics, 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, and beryllia ceramics. 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, and braze materials. Precision Optics 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 Optics Other Total Second Quarter 2021 Net sales $ 125,294 $ 213,114 $ 32,591 $ — $ 370,999 Intersegment sales 10 3,185 — — 3,195 Operating profit (loss) 17,314 8,333 2,626 (7,550) 20,723 Second Quarter 2020 Net sales $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Intersegment sales (213) 8,997 — — 8,784 Operating profit (loss) 6,824 4,653 2,091 (5,997) 7,571 First Six Months 2021 Net sales $ 239,437 $ 417,758 $ 68,190 $ — $ 725,385 Intersegment sales 15 5,872 — — 5,887 Operating profit (loss) 30,805 17,266 7,184 (14,814) 40,441 First Six Months 2020 Net sales $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 Intersegment sales 2 18,188 — — 18,190 Operating profit (loss) 10,347 9,703 (7,501) (10,546) 2,003 The following table disaggregates revenue for each segment by end market for the second quarter and first six months of 2021 and 2020: (Thousands) Performance Alloys and Composites Advanced Materials Precision Optics Other Total Second Quarter 2021 End Market Semiconductor $ 1,806 $ 166,968 $ 563 $ — $ 169,337 Industrial 30,264 10,687 7,634 — 48,585 Aerospace and defense 19,250 1,660 5,597 — 26,507 Consumer electronics 10,722 266 6,964 — 17,952 Automotive 25,766 1,757 2,107 — 29,630 Energy 4,880 24,216 — — 29,096 Telecom and data center 13,025 39 — — 13,064 Other 19,581 7,521 9,726 — 36,828 Total $ 125,294 $ 213,114 $ 32,591 $ — $ 370,999 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 (Thousands) Performance Alloys and Composites Advanced Materials Precision Optics Other Total First Six Months 2021 End Market Semiconductor $ 2,803 $ 322,029 $ 1,034 $ — $ 325,866 Industrial 54,294 23,277 15,009 — 92,580 Aerospace and defense 41,092 3,058 12,173 — 56,323 Consumer electronics 20,766 431 16,424 — 37,621 Automotive 49,273 3,426 4,300 — 56,999 Energy 9,017 51,406 — — 60,423 Telecom and data center 24,368 109 — — 24,477 Other 37,824 14,022 19,250 — 71,096 Total $ 239,437 $ 417,758 $ 68,190 $ — $ 725,385 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 Intersegment sales are eliminated in consolidation.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 02, 2021
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 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 July 2, 2021. 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 July 2, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $78.1 million. Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) July 2, 2021 December 31, 2020 $ change % change Accounts receivable, trade $ 169,279 $ 156,821 $ 12,458 8 % Unbilled receivables 10,682 8,832 1,850 21 % Unearned revenue 10,920 7,713 3,207 42 % 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 first six months of 2021. Unbilled receivables represent expenditures on contracts, plus applicable profit margin, not yet billed. Unbilled receivables are generally 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 $3.2 million of the December 31, 2020 unearned amounts as revenue during the first six months of 2021. 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
	Jul. 02, 2021
Other Income and Expenses [Abstract]
Other-net	Other-net Other-net for the second quarter and first six months of 2021 and 2020 is summarized as follows: Second Quarter Ended Six Months Ended July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Metal consignment fees $ 2,464 $ 2,037 $ 4,614 $ 4,266 Amortization of intangible assets 1,005 106 2,178 294 Foreign currency (gain) loss (33) (2,486) 1,216 (2,548) Net loss (gain) on disposal of fixed assets 24 9 (364) 55 Other items 734 (23) 1,024 (145) Total $ 4,194 $ (357) $ 8,668 $ 1,922

Restructuring

Restructuring	6 Months Ended
	Jul. 02, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring During 2020, the Company determined it would close its Large Area Coatings (LAC) business (a reporting unit in the Precision Optics segment). The closure was substantially completed by the end of the first quarter of 2021. Income of $0.4 million was recorded in the first quarter of 2021, primarily related to lower than previously estimated facility closure costs that were recorded in 2020. Remaining severance payments are immaterial and reflected in Salaries and wages in the Consolidated Balance Sheet as of July 2, 2021. Any additional costs related to the closure of this business are expected to be immaterial. In addition, during 2020, the Company initiated a restructuring plan in its Performance Alloys and Composites segment to close its Warren, Michigan and Fremont, California locations. Costs associated with the plan totaled $2.4 million and

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the second quarter of 2021 and 2020 was 15.5% and 19.0%, respectively, and 16.3% and 16.0% in the first six months of 2021 and 2020, respectively. The effective tax rate for each period in 2021 was lower than the statutory tax rate primarily due to the impact of percentage depletion, research and development credits, and the foreign derived intangible income deduction. The effective tax rate for each period in 2020 was lower than the statutory rate primarily due to the impact of percentage depletion and research and development credits. The effective tax rate for the first six months of 2021 included a net discrete income tax benefit of $0.5 million, primarily related to excess tax benefits from stock-based compensation awards. 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. On March 11, 2021, President Biden signed the American Rescue Plan (the Rescue Plan) into law. The Rescue Plan, among other things, extends and enhances a number of current-law tax incentives for businesses. While the Company continues to examine the impacts the Rescue Plan may have on its business, it does not expect it will have a material impact to its consolidated financial statements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 02, 2021
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 July 2, June 26, July 2, June 26, (Thousands, except per share amounts) 2021 2020 2021 2020 Numerator for basic and diluted EPS: Net income $ 17,868 $ 5,803 $ 34,635 $ 1,925 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,429 20,317 20,402 20,350 Effect of dilutive securities: Stock appreciation rights 79 36 75 36 Restricted stock units 93 63 108 80 Performance-based restricted stock units 50 138 62 121 Diluted potential common shares 222 237 245 237 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,651 20,554 20,647 20,587 Basic EPS $ 0.87 $ 0.29 $ 1.70 $ 0.09 Diluted EPS $ 0.87 $ 0.28 $ 1.68 $ 0.09 Adjusted weighted-average shares outstanding - diluted exclude securities totaling 52,709 and 191,500 for the quarters ended July 2, 2021 and June 26, 2020, respectively and 64,478 and 230,893 for the six months ended July 2, 2021 and June 26, 2020, respectively. These securities are primarily related to restricted stock units and stock appreciation rights with fair market values and exercise prices greater 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
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories on the Consolidated Balance Sheets are summarized as follows: July 2, December 31, (Thousands) 2021 2020 Raw materials and supplies $ 67,281 $ 42,905 Work in process 172,425 156,093 Finished goods 51,033 51,780 Inventories, net $ 290,739 $ 250,778 The Company maintains the majority of the precious metals and copper used in production on a consignment basis in order to reduce its exposure to metal price movements and to reduce its working capital investment. The notional value of off-balance sheet precious metals and copper was $456.3 million and $400.0 million as of July 2, 2021 and December 31, 2020, respectively. Amounts for the year ended December 31, 2020 have been revised to reflect a $44.6 million reclassification out of work in process and into finished goods inventory.

Customer Prepayments

Customer Prepayments	6 Months Ended
	Jul. 02, 2021
Customer Prepayments [Abstract]
Customer Prepayments Investment Agreement [Text Block]	Customer PrepaymentsThe Company entered into investment and master supply agreements with a customer to procure equipment to manufacture product for the customer. The customer is providing 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, as of July 2, 2021 and December 31, 2020, $66.9 million and $58.8 million, respectively, of prepayments are classified as Unearned Income in the Consolidated Balance Sheet, of which $2.2 million and $8.0 million, respectively, was received during the second quarter and first six months of 2021.

Pensions and Other Post-employm

Pensions and Other Post-employment Benefits	6 Months Ended
	Jul. 02, 2021
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 2021 and 2020 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 July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Components of net periodic benefit (credit) cost Service cost $ — $ — $ 20 $ 15 Interest cost 987 1,215 29 53 Expected return on plan assets (2,234) (2,205) — — Amortization of prior service cost (benefit) — — (375) (374) Amortization of net loss (gain) 417 284 (68) (83) Net periodic benefit (credit) cost $ (830) $ (706) $ (394) $ (389) Settlements — 94 — — Total net benefit (credit) cost $ (830) $ (612) $ (394) $ (389) Pension Benefits Other Benefits Six Months Ended Six Months Ended July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Components of net periodic benefit (credit) cost Service cost $ — $ — $ 40 $ 31 Interest cost 1,973 2,429 58 107 Expected return on plan assets (4,468) (4,410) — — Amortization of prior service cost (benefit) — — (749) (749) Amortization of net loss (gain) 835 568 (137) (166) Net periodic benefit (credit) cost $ (1,660) $ (1,413) $ (788) $ (777) Settlements — 94 — — Total net benefit (credit) cost $ (1,660) $ (1,319) $ (788) $ (777) The Company did not make any contributions to its domestic defined benefit plan in the second quarter or first six months of 2021 or 2020. 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
	Jul. 02, 2021
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 2021 and 2020 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 April 2, 2021 $ 1,462 $ 320 $ 280 $ 2,062 $ (43,309) $ (4,840) $ (46,087) Other comprehensive income (loss) before reclassifications 183 (239) 1,145 1,089 — 3,193 4,282 Amounts reclassified from accumulated other comprehensive income (loss) — 65 (1,507) (1,442) 77 — (1,365) Net current period other comprehensive (loss) income before tax 183 (174) (362) (353) 77 3,193 2,917 Deferred taxes 42 (40) (82) (80) (6) — (86) Net current period other comprehensive (loss) income after tax 141 (134) (280) (273) 83 3,193 3,003 Balance at July 2, 2021 $ 1,603 $ 186 $ — $ 1,789 $ (43,226) $ (1,647) $ (43,084) 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 (loss) 8 491 132 631 70 — 701 Net current period other comprehensive (loss) income before tax (193) 80 558 445 70 1,166 1,681 Deferred taxes (44) 18 124 98 (19) — 79 Net current period other comprehensive (loss) income 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) 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, 2020 $ 519 $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Other comprehensive income (loss) before reclassifications 1,268 502 2,436 4,206 — (5,664) (1,458) Amounts reclassified from accumulated other comprehensive income (loss) 140 (39) (3,041) (2,940) 234 — (2,706) Net current period other comprehensive (loss) income before tax 1,408 463 (605) 1,266 234 (5,664) (4,164) Deferred taxes 324 107 (137) 294 (13) — 281 Net current period other comprehensive (loss) income after tax 1,084 356 (468) 972 247 (5,664) (4,445) Balance at July 2, 2021 $ 1,603 $ 186 $ — $ 1,789 $ (43,226) $ (1,647) $ (43,084) 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 (loss) 7 809 453 1,269 46 — 1,315 Net current period other comprehensive (loss) income before tax (336) (425) 101 (660) 46 293 (321) Deferred taxes (77) (98) 22 (153) (59) — (212) Net current period other comprehensive (loss) income 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) Reclassifications from accumulated other comprehensive income (loss) of gains and losses on foreign currency cash flow hedges are recorded in Net sales in the Consolidated Statements of Income (Loss). Reclassifications from accumulated other comprehensive income (loss) of gains and losses on precious metal and copper cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income. Refer to Note O for additional details on cash flow hedges.

Stock-based Compensation Expens

Stock-based Compensation Expense	6 Months Ended
	Jul. 02, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Expense	Stock-based Compensation Expense Stock-based compensation expense, which includes awards settled in shares and in cash, was $2.2 million and $3.8 million in the second quarter and first six months of 2021, respectively, compared to $3.1 million and $4.1 million, respectively, in the same periods of 2020. The Company granted 52,709 stock appreciation rights (SARs) to certain employees during the first six months of 2021. The weighted-average exercise price per share and weighted-average fair value per share of the SARs granted during the six months ended July 2, 2021 were $68.82 and $20.66, 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 0.57 % Dividend yield 0.7 % Volatility 37.6 % Expected term (in years) 4.6 The Company granted 55,064 stock-settled restricted stock units (RSUs) to certain employees and 9,904 to non-employee directors during the first six months of 2021. 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 $68.44 and $75.77 for stock-settled RSUs granted to employees and non-employee directors, respectively, during the six months ended July 2, 2021. RSUs are generally 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 2021. The weighted-average fair value of the stock-settled PRSUs was $83.78 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 its 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
	Jul. 02, 2021
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 July 2, 2021 and December 31, 2020: (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices Significant Significant 2021 2020 2021 2020 2021 2020 2021 2020 Financial Assets Deferred compensation investments $ 3,881 $ 3,802 $ 3,881 $ 3,802 $ — $ — $ — $ — Foreign currency forward contracts 477 107 — — 477 107 — — Precious metal swaps 258 127 — — 258 127 — — Copper swaps — 632 — — — 632 — — Total $ 4,616 $ 4,668 $ 3,881 $ 3,802 $ 735 $ 866 $ — $ — Financial Liabilities Deferred compensation liability $ 3,881 $ 3,802 $ 3,881 $ 3,802 $ — $ — $ — $ — Foreign currency forward contracts 151 1,203 — — 151 1,203 — — Precious metal swaps 17 349 — — 17 349 — — Copper swaps — 27 — — — 27 — — Total $ 4,049 $ 5,381 $ 3,881 $ 3,802 $ 168 $ 1,579 $ — $ — 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 July 2, 2021 and December 31, 2020. 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
	Jul. 02, 2021
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 July 2, 2021 and December 31, 2020: July 2, 2021 December 31, 2020 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 62,324 $ 142 $ 62,012 $ 107 Other liabilities and accrued items 12,427 75 7,695 55 These outstanding foreign currency derivatives were related to balance sheet hedges and intercompany loans. Other-net included $0.4 million of foreign currency losses in the second quarter of 2021 and $1.2 million of foreign currency gains related to derivatives in the first six months of 2021, compared to $1.7 million and $2.3 million of foreign currency gains in 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 July 2, 2021 and December 31, 2020: July 2, 2021 December 31, 2020 (Thousands) Notional Fair Notional Fair Prepaid expenses Foreign currency forward contracts - yen $ 3,778 $ 107 $ — $ — Foreign currency forward contracts - euro 20,727 199 — — Precious metal swaps 4,538 258 2,155 127 Copper swaps — — 6,225 632 Total 29,043 564 8,380 759 Other assets Foreign currency forward contracts - yen 275 3 — — Foreign currency forward contracts - euro 1,822 26 — — Total 2,097 29 — — Other liabilities and accrued items Foreign currency forward contracts - yen 471 2 2,668 59 Foreign currency forward contracts - euro 5,900 61 17,611 1,089 Precious metal swaps 518 17 4,964 349 Copper swaps — — 2,445 27 Total 6,889 80 27,688 1,524 Other long-term liabilities Foreign currency forward contracts - yen 271 — — — Foreign currency forward contracts - euro 2,383 13 — — Total 2,654 13 — — Total $ 40,683 $ 500 $ 36,068 $ 765 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 July 2, 2021 to the Consolidated Statements of Income within the next 15-months. Refer to Note L for additional OCI details. The following table summarizes the amounts reclassified from accumulated other comprehensive income relating to the hedging relationship of the Company’s outstanding derivatives designated as cash flow hedges and income statement classification as of the second quarter and first six months of 2021 and 2020: Second Quarter Ended (Thousands) July 2, 2021 June 26, 2020 Hedging relationship Line item Foreign currency forward contracts Net sales $ — $ 8 Precious metal swaps Cost of sales 65 491 Copper swaps Cost of sales (1,507) 132 Total $ (1,442) $ 631 Six Months Ended (Thousands) July 2, 2021 June 26, 2020 Hedging relationship Line item Foreign currency forward contracts Net sales $ 140 $ 7 Precious metal swaps Cost of sales (39) 809 Copper swaps Cost of sales (3,041) 453 Total $ (2,940) $ 1,269

Contingencies

Contingencies	6 Months Ended
	Jul. 02, 2021
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 T ("Contingencies and Commitments") in the Company's 2020 Annual Report on Form 10-K. Two beryllium cases were outstanding as of July 2, 2021. The Company does not expect the resolution of these matters 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. On October 14, 2020, Garett Lucyk, et al. v. Materion Brush Inc., et. al. , case number 20CV0234, a wage and hour purported collective and class action, was filed in the Northern District of Ohio against the Company and its subsidiary, Materion Brush Inc. (collectively, the Company). Plaintiff, a former hourly production employee at the Company's Elmore, Ohio facility, alleges, among other things, that he and other similarly situated employees nationwide are not paid for all time they spend donning and doffing personal protective equipment in violation of the Fair Labor Standards Act and Ohio law. The case is currently in the preliminary stages. The Company believes that it has substantive defenses and intends to vigorously defend this suit. 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 $5.2 million and $5.5 million at July 2, 2021 and December 31, 2020, respectively, and is included in Other liabilities and accrued items and Other long-term liabilities on the Consolidated Balance Sheet. 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
	Jul. 02, 2021
Debt Disclosure [Abstract]
Debt Disclosure	Debt (Thousands) July 2, 2021 December 31, 2020 Borrowings under Credit Agreement $ 56,500 $ 34,000 Foreign debt 2,773 3,157 Fixed rate industrial development revenue bonds — 1,322 Total debt outstanding 59,273 38,479 Current portion of long-term debt (435) (1,937) Long-term debt $ 58,838 $ 36,542 As of July 2, 2021 and December 31, 2020, the Company had $56.5 million and $34.0 million, respectively, outstanding against its revolving credit facility with average interest rates of 1.46% and 1.65% at July 2, 2021 and December 31, 2020, respectively. The remaining borrowing capacity under the revolving credit facility as of July 2, 2021 and December 31, 2020 wa s $273.0 million and $245.8 million, respectively. The Company has the option to repay or borrow additional funds under the revolving credit facility until the maturity date in 2024. The Credit Agreement includes covenants subject to a maximum leverage ratio and a minimum fixed charge coverage ratio. The Company was in compliance with all of its debt covenants as of July 2, 2021. At July 2, 2021 and December 31, 2020, there was $47.3 million and $48.1 million outstanding against the letters of credit sub-facility, respectively.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation: 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 2021 consolidated financial statement presentation.
Business Combinations Policy	Business Combinations: The Company records assets acquired and liabilities assumed at the date of acquisition at their respective fair values. Any intangible assets acquired in a business combination are recognized and reported apart from goodwill. Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. The amounts reflected in Note B to the Consolidated Financial Statements are the results of a preliminary purchase price allocation and will be updated upon completion of the final valuation. The Company is required to complete the purchase price allocation within 12 months of the acquisition date. If such completion of the allocation results in a change in the preliminary values, the measurement period adjustment will be recognized in the period in which the adjustment amount is determined.
New Accounting Pronouncements	New Pronouncements Adopted: In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing various exceptions, such as the exception to the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items. The amendments in this update also simplify the accounting for income taxes related to income-based franchise taxes and require that an entity reflect enacted tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company adopted the standard on January 1, 2021. The adoption did not materially impact the Company's financial statements or disclosures. New Accounting Guidance Issued and Not Yet Adopted: In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This guidance is intended

Revenue Recognition Accounting

Revenue Recognition Accounting Policy (Policies)	6 Months Ended
	Jul. 02, 2021
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 606, Revenue from Contracts with Customers,

Accounting Policies (Tables)

Accounting Policies (Tables)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle	The following tables reflect the impact to the financial statement line items as a result of the change in accounting principle for the prior periods presented in the accompanying financial statements: Consolidated Statement of Income (Thousands except per share amounts) Second Quarter Ended Six Months Ended June 26, 2020 June 26, 2020 Selected Items As Reported As Adjusted Adjustment As Reported As Adjusted Adjustment Cost of sales $ 223,378 $ 224,513 $ 1,135 $ 455,749 $ 457,889 $ 2,140 Gross margin 48,090 46,955 (1,135) 93,665 91,525 (2,140) Operating profit 8,706 7,571 (1,135) 4,143 2,003 (2,140) Income before income taxes 8,298 7,163 (1,135) 4,433 2,293 (2,140) Income tax expense 1,620 1,360 (260) 858 368 (490) Net income 6,678 5,803 (875) 3,575 1,925 (1,650) Basic earnings per share: Net income per share of common stock $ 0.33 $ 0.29 $ (0.04) $ 0.18 $ 0.09 $ (0.09) Diluted earnings per share: Net income per share of common stock $ 0.32 $ 0.28 $ (0.04) $ 0.17 $ 0.09 $ (0.08) Consolidated Statement of Comprehensive Income (Thousands) Second Quarter Ended Six Months Ended June 26, 2020 June 26, 2020 Selected Items As Reported As Adjusted Adjustment As Reported As Adjusted Adjustment Net income $ 6,678 $ 5,803 $ (875) $ 3,575 $ 1,925 $ (1,650) Comprehensive income 8,280 7,405 (875) 3,466 1,816 (1,650) Consolidated Statement of Cash Flows (Thousands) Six Months Ended June 26, 2020 Selected Items As Reported As Adjusted Adjustment Net income $ 3,575 $ 1,925 $ (1,650) Deferred income tax benefit (234) (723) (489) Increase in inventory (20,585) (18,446) 2,139

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Segment Reporting	(Thousands) Performance Advanced Materials Precision Optics Other Total Second Quarter 2021 Net sales $ 125,294 $ 213,114 $ 32,591 $ — $ 370,999 Intersegment sales 10 3,185 — — 3,195 Operating profit (loss) 17,314 8,333 2,626 (7,550) 20,723 Second Quarter 2020 Net sales $ 101,614 $ 150,108 $ 19,746 $ — $ 271,468 Intersegment sales (213) 8,997 — — 8,784 Operating profit (loss) 6,824 4,653 2,091 (5,997) 7,571 First Six Months 2021 Net sales $ 239,437 $ 417,758 $ 68,190 $ — $ 725,385 Intersegment sales 15 5,872 — — 5,887 Operating profit (loss) 30,805 17,266 7,184 (14,814) 40,441 First Six Months 2020 Net sales $ 200,681 $ 310,273 $ 38,460 $ — $ 549,414 Intersegment sales 2 18,188 — — 18,190 Operating profit (loss) 10,347 9,703 (7,501) (10,546) 2,003
Disaggregation of Revenue	The following table disaggregates revenue for each segment by end market for the second quarter and first six months of 2021 and 2020: (Thousands) Performance Alloys and Composites Advanced Materials Precision Optics Other Total Second Quarter 2021 End Market Semiconductor $ 1,806 $ 166,968 $ 563 $ — $ 169,337 Industrial 30,264 10,687 7,634 — 48,585 Aerospace and defense 19,250 1,660 5,597 — 26,507 Consumer electronics 10,722 266 6,964 — 17,952 Automotive 25,766 1,757 2,107 — 29,630 Energy 4,880 24,216 — — 29,096 Telecom and data center 13,025 39 — — 13,064 Other 19,581 7,521 9,726 — 36,828 Total $ 125,294 $ 213,114 $ 32,591 $ — $ 370,999 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 (Thousands) Performance Alloys and Composites Advanced Materials Precision Optics Other Total First Six Months 2021 End Market Semiconductor $ 2,803 $ 322,029 $ 1,034 $ — $ 325,866 Industrial 54,294 23,277 15,009 — 92,580 Aerospace and defense 41,092 3,058 12,173 — 56,323 Consumer electronics 20,766 431 16,424 — 37,621 Automotive 49,273 3,426 4,300 — 56,999 Energy 9,017 51,406 — — 60,423 Telecom and data center 24,368 109 — — 24,477 Other 37,824 14,022 19,250 — 71,096 Total $ 239,437 $ 417,758 $ 68,190 $ — $ 725,385 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

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 02, 2021
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) July 2, 2021 December 31, 2020 $ change % change Accounts receivable, trade $ 169,279 $ 156,821 $ 12,458 8 % Unbilled receivables 10,682 8,832 1,850 21 % Unearned revenue 10,920 7,713 3,207 42 %

Other-net (Tables)

Other-net (Tables)	6 Months Ended
	Jul. 02, 2021
Other Income and Expenses [Abstract]
Summary of Other-Net Expense	Other-net for the second quarter and first six months of 2021 and 2020 is summarized as follows: Second Quarter Ended Six Months Ended July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Metal consignment fees $ 2,464 $ 2,037 $ 4,614 $ 4,266 Amortization of intangible assets 1,005 106 2,178 294 Foreign currency (gain) loss (33) (2,486) 1,216 (2,548) Net loss (gain) on disposal of fixed assets 24 9 (364) 55 Other items 734 (23) 1,024 (145) Total $ 4,194 $ (357) $ 8,668 $ 1,922

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 02, 2021
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 July 2, June 26, July 2, June 26, (Thousands, except per share amounts) 2021 2020 2021 2020 Numerator for basic and diluted EPS: Net income $ 17,868 $ 5,803 $ 34,635 $ 1,925 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,429 20,317 20,402 20,350 Effect of dilutive securities: Stock appreciation rights 79 36 75 36 Restricted stock units 93 63 108 80 Performance-based restricted stock units 50 138 62 121 Diluted potential common shares 222 237 245 237 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,651 20,554 20,647 20,587 Basic EPS $ 0.87 $ 0.29 $ 1.70 $ 0.09 Diluted EPS $ 0.87 $ 0.28 $ 1.68 $ 0.09

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories on the Consolidated Balance Sheets are summarized as follows: July 2, December 31, (Thousands) 2021 2020 Raw materials and supplies $ 67,281 $ 42,905 Work in process 172,425 156,093 Finished goods 51,033 51,780 Inventories, net $ 290,739 $ 250,778

Pensions and Other Post-emplo_2

Pensions and Other Post-employment Benefits (Tables)	6 Months Ended
	Jul. 02, 2021
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 2021 and 2020 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 July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Components of net periodic benefit (credit) cost Service cost $ — $ — $ 20 $ 15 Interest cost 987 1,215 29 53 Expected return on plan assets (2,234) (2,205) — — Amortization of prior service cost (benefit) — — (375) (374) Amortization of net loss (gain) 417 284 (68) (83) Net periodic benefit (credit) cost $ (830) $ (706) $ (394) $ (389) Settlements — 94 — — Total net benefit (credit) cost $ (830) $ (612) $ (394) $ (389) Pension Benefits Other Benefits Six Months Ended Six Months Ended July 2, June 26, July 2, June 26, (Thousands) 2021 2020 2021 2020 Components of net periodic benefit (credit) cost Service cost $ — $ — $ 40 $ 31 Interest cost 1,973 2,429 58 107 Expected return on plan assets (4,468) (4,410) — — Amortization of prior service cost (benefit) — — (749) (749) Amortization of net loss (gain) 835 568 (137) (166) Net periodic benefit (credit) cost $ (1,660) $ (1,413) $ (788) $ (777) Settlements — 94 — — Total net benefit (credit) cost $ (1,660) $ (1,319) $ (788) $ (777)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jul. 02, 2021
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 2021 and 2020 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 April 2, 2021 $ 1,462 $ 320 $ 280 $ 2,062 $ (43,309) $ (4,840) $ (46,087) Other comprehensive income (loss) before reclassifications 183 (239) 1,145 1,089 — 3,193 4,282 Amounts reclassified from accumulated other comprehensive income (loss) — 65 (1,507) (1,442) 77 — (1,365) Net current period other comprehensive (loss) income before tax 183 (174) (362) (353) 77 3,193 2,917 Deferred taxes 42 (40) (82) (80) (6) — (86) Net current period other comprehensive (loss) income after tax 141 (134) (280) (273) 83 3,193 3,003 Balance at July 2, 2021 $ 1,603 $ 186 $ — $ 1,789 $ (43,226) $ (1,647) $ (43,084) 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 (loss) 8 491 132 631 70 — 701 Net current period other comprehensive (loss) income before tax (193) 80 558 445 70 1,166 1,681 Deferred taxes (44) 18 124 98 (19) — 79 Net current period other comprehensive (loss) income 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) 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, 2020 $ 519 $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Other comprehensive income (loss) before reclassifications 1,268 502 2,436 4,206 — (5,664) (1,458) Amounts reclassified from accumulated other comprehensive income (loss) 140 (39) (3,041) (2,940) 234 — (2,706) Net current period other comprehensive (loss) income before tax 1,408 463 (605) 1,266 234 (5,664) (4,164) Deferred taxes 324 107 (137) 294 (13) — 281 Net current period other comprehensive (loss) income after tax 1,084 356 (468) 972 247 (5,664) (4,445) Balance at July 2, 2021 $ 1,603 $ 186 $ — $ 1,789 $ (43,226) $ (1,647) $ (43,084) 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 (loss) 7 809 453 1,269 46 — 1,315 Net current period other comprehensive (loss) income before tax (336) (425) 101 (660) 46 293 (321) Deferred taxes (77) (98) 22 (153) (59) — (212) Net current period other comprehensive (loss) income 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)

Stock-based Compensation Expe_2

Stock-based Compensation Expense Tables (Tables)	6 Months Ended
	Jul. 02, 2021
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 0.57 % Dividend yield 0.7 % Volatility 37.6 % Expected term (in years) 4.6

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jul. 02, 2021
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 July 2, 2021 and December 31, 2020: (Thousands) Total Carrying Value in the Consolidated Balance Sheets Quoted Prices Significant Significant 2021 2020 2021 2020 2021 2020 2021 2020 Financial Assets Deferred compensation investments $ 3,881 $ 3,802 $ 3,881 $ 3,802 $ — $ — $ — $ — Foreign currency forward contracts 477 107 — — 477 107 — — Precious metal swaps 258 127 — — 258 127 — — Copper swaps — 632 — — — 632 — — Total $ 4,616 $ 4,668 $ 3,881 $ 3,802 $ 735 $ 866 $ — $ — Financial Liabilities Deferred compensation liability $ 3,881 $ 3,802 $ 3,881 $ 3,802 $ — $ — $ — $ — Foreign currency forward contracts 151 1,203 — — 151 1,203 — — Precious metal swaps 17 349 — — 17 349 — — Copper swaps — 27 — — — 27 — — Total $ 4,049 $ 5,381 $ 3,881 $ 3,802 $ 168 $ 1,579 $ — $ —

Derivative Instruments and He_2

Derivative Instruments and Hedging Activity Tables (Tables)	6 Months Ended
	Jul. 02, 2021
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 July 2, 2021 and December 31, 2020: July 2, 2021 December 31, 2020 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 62,324 $ 142 $ 62,012 $ 107 Other liabilities and accrued items 12,427 75 7,695 55
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 July 2, 2021 and December 31, 2020: July 2, 2021 December 31, 2020 (Thousands) Notional Fair Notional Fair Prepaid expenses Foreign currency forward contracts - yen $ 3,778 $ 107 $ — $ — Foreign currency forward contracts - euro 20,727 199 — — Precious metal swaps 4,538 258 2,155 127 Copper swaps — — 6,225 632 Total 29,043 564 8,380 759 Other assets Foreign currency forward contracts - yen 275 3 — — Foreign currency forward contracts - euro 1,822 26 — — Total 2,097 29 — — Other liabilities and accrued items Foreign currency forward contracts - yen 471 2 2,668 59 Foreign currency forward contracts - euro 5,900 61 17,611 1,089 Precious metal swaps 518 17 4,964 349 Copper swaps — — 2,445 27 Total 6,889 80 27,688 1,524 Other long-term liabilities Foreign currency forward contracts - yen 271 — — — Foreign currency forward contracts - euro 2,383 13 — — Total 2,654 13 — — Total $ 40,683 $ 500 $ 36,068 $ 765
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 2021 and 2020: Second Quarter Ended (Thousands) July 2, 2021 June 26, 2020 Hedging relationship Line item Foreign currency forward contracts Net sales $ — $ 8 Precious metal swaps Cost of sales 65 491 Copper swaps Cost of sales (1,507) 132 Total $ (1,442) $ 631 Six Months Ended (Thousands) July 2, 2021 June 26, 2020 Hedging relationship Line item Foreign currency forward contracts Net sales $ 140 $ 7 Precious metal swaps Cost of sales (39) 809 Copper swaps Cost of sales (3,041) 453 Total $ (2,940) $ 1,269

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 02, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	(Thousands) July 2, 2021 December 31, 2020 Borrowings under Credit Agreement $ 56,500 $ 34,000 Foreign debt 2,773 3,157 Fixed rate industrial development revenue bonds — 1,322 Total debt outstanding 59,273 38,479 Current portion of long-term debt (435) (1,937) Long-term debt $ 58,838 $ 36,542

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Cost of sales	$ 301,418	$ 224,513	$ 589,008	$ 457,889
Gross margin	69,581	46,955	136,377	91,525
Operating profit	20,723	7,571	40,441	2,003
Income before income taxes	21,142	7,163	41,375	2,293
Income tax expense	3,274	1,360	6,740	368
Net income	17,868	5,803	34,635	1,925
Comprehensive income	$ 20,871	$ 7,405	30,190	1,816
Deferred income tax benefit				(723)
Increase in inventory			$ (40,651)	$ (18,446)
Basic earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.87	$ 0.29	$ 1.70	$ 0.09
Diluted earnings per share:
Net income per share of common stock (in dollars per share)	$ 0.87	$ 0.28	$ 1.68	$ 0.09
Previously Reported
Net income				$ 3,575
Deferred income tax benefit				(234)
Increase in inventory				(20,585)
Revision of Prior Period, Change in Accounting Principle, Adjustment
Net income				(1,650)
Deferred income tax benefit				(489)
Increase in inventory				2,139
Previously Reported
Net income		$ 6,678		3,575
Comprehensive income		8,280		3,466
Revision of Prior Period, Change in Accounting Principle, Adjustment
Net income		(875)		(1,650)
Comprehensive income		(875)		(1,650)
Previously Reported
Cost of sales		223,378		455,749
Gross margin		48,090		93,665
Operating profit		8,706		4,143
Income before income taxes		8,298		4,433
Income tax expense		1,620		858
Net income		$ 6,678		$ 3,575
Basic earnings per share:
Net income per share of common stock (in dollars per share)		$ 0.33		$ 0.18
Diluted earnings per share:
Net income per share of common stock (in dollars per share)		$ 0.32		$ 0.17
Revision of Prior Period, Change in Accounting Principle, Adjustment
Cost of sales		$ 1,135		$ 2,140
Gross margin		(1,135)		(2,140)
Operating profit		(1,135)		(2,140)
Income before income taxes		(1,135)		(2,140)
Income tax expense		(260)		(490)
Net income		$ (875)		$ (1,650)
Basic earnings per share:
Net income per share of common stock (in dollars per share)		$ (0.04)		$ (0.09)
Diluted earnings per share:
Net income per share of common stock (in dollars per share)		$ (0.04)		$ (0.08)

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	Jul. 17, 2020	Jul. 02, 2021	Dec. 31, 2020
Business Combinations [Abstract]
Long-term debt	$ 22,500
Material measurement period adjustment		$ 0
Business Acquisition [Line Items]
Goodwill		$ 142,054	$ 144,916
Optics Balzers [Member]
Business Acquisition [Line Items]
Goodwill	70,800
Intangible assets	49,300
Business Combination, Consideration Transferred	$ 136,100

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Segment Reporting Information
Net sales	$ 370,999	$ 271,468	$ 725,385	$ 549,414
Intersegment sales	3,195	8,784	5,887	18,190
Operating profit (loss)	20,723	7,571	40,441	2,003
Performance Alloys and Composites
Segment Reporting Information
Net sales	125,294	101,614	239,437	200,681
Intersegment sales	10	(213)	15	2
Operating profit (loss)	17,314	6,824	30,805	10,347
Advanced Materials
Segment Reporting Information
Net sales	213,114	150,108	417,758	310,273
Intersegment sales	3,185	8,997	5,872	18,188
Operating profit (loss)	8,333	4,653	17,266	9,703
Precision Optics
Segment Reporting Information
Net sales	32,591	19,746	68,190	38,460
Intersegment sales	0	0	0	0
Operating profit (loss)	2,626	2,091	7,184	(7,501)
Other
Segment Reporting Information
Net sales	0	0	0	0
Intersegment sales	0	0	0	0
Operating profit (loss)	$ (7,550)	$ (5,997)	$ (14,814)	$ (10,546)

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 370,999	$ 271,468	$ 725,385	$ 549,414
Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	169,337	125,677	325,866	247,413
Industrial
Disaggregation of Revenue [Line Items]
Net sales	48,585	34,824	92,580	69,623
Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	26,507	23,721	56,323	44,463
Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	17,952	13,381	37,621	31,735
Automotive
Disaggregation of Revenue [Line Items]
Net sales	29,630	17,608	56,999	37,869
Energy
Disaggregation of Revenue [Line Items]
Net sales	29,096	14,917	60,423	43,814
Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	13,064	13,374	24,477	24,233
Other End Market
Disaggregation of Revenue [Line Items]
Net sales	36,828	27,966	71,096	50,264
Performance Alloys and Composites
Disaggregation of Revenue [Line Items]
Net sales	125,294	101,614	239,437	200,681
Performance Alloys and Composites | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	1,806	1,537	2,803	2,443
Performance Alloys and Composites | Industrial
Disaggregation of Revenue [Line Items]
Net sales	30,264	23,831	54,294	47,171
Performance Alloys and Composites | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	19,250	17,952	41,092	32,158
Performance Alloys and Composites | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	10,722	9,956	20,766	24,651
Performance Alloys and Composites | Automotive
Disaggregation of Revenue [Line Items]
Net sales	25,766	16,415	49,273	34,579
Performance Alloys and Composites | Energy
Disaggregation of Revenue [Line Items]
Net sales	4,880	5,590	9,017	11,019
Performance Alloys and Composites | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	13,025	12,586	24,368	22,575
Performance Alloys and Composites | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	19,581	13,747	37,824	26,085
Advanced Materials
Disaggregation of Revenue [Line Items]
Net sales	213,114	150,108	417,758	310,273
Advanced Materials | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	166,968	123,908	322,029	244,727
Advanced Materials | Industrial
Disaggregation of Revenue [Line Items]
Net sales	10,687	8,419	23,277	16,781
Advanced Materials | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	1,660	1,650	3,058	3,077
Advanced Materials | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	266	21	431	138
Advanced Materials | Automotive
Disaggregation of Revenue [Line Items]
Net sales	1,757	1,186	3,426	3,266
Advanced Materials | Energy
Disaggregation of Revenue [Line Items]
Net sales	24,216	9,327	51,406	32,795
Advanced Materials | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	39	788	109	1,658
Advanced Materials | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	7,521	4,809	14,022	7,831
Precision Optics
Disaggregation of Revenue [Line Items]
Net sales	32,591	19,746	68,190	38,460
Precision Optics | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	563	232	1,034	243
Precision Optics | Industrial
Disaggregation of Revenue [Line Items]
Net sales	7,634	2,574	15,009	5,671
Precision Optics | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	5,597	4,119	12,173	9,228
Precision Optics | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	6,964	3,404	16,424	6,946
Precision Optics | Automotive
Disaggregation of Revenue [Line Items]
Net sales	2,107	7	4,300	24
Precision Optics | Energy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Precision Optics | Telecomm and Data Center
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Precision Optics | Other End Market
Disaggregation of Revenue [Line Items]
Net sales	9,726	9,410	19,250	16,348
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 | Industrial
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 | Consumer Electronics
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 | 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 | 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
	Jul. 02, 2021	Jun. 26, 2020	Dec. 31, 2020
Capitalized Contract Cost [Line Items]
Increase (Decrease) in Unearned Revenue	$ 3,246	$ (257)
Accounts receivable, trade
Capitalized Contract Cost [Line Items]
Accounts Receivable, Trade	169,279		$ 156,821
Change in Accounts Receivable, Trade	$ 12,458
Contract Asset Percent Change	8.00%
Unbilled Receivables
Capitalized Contract Cost [Line Items]
Unbilled Contracts Receivable	$ 10,682		8,832
Change in Unbilled Receivables	$ 1,850
Contract Asset Percent Change	21.00%
Unearned revenue
Capitalized Contract Cost [Line Items]
Unearned Revenue	$ 10,920		$ 7,713
Increase (Decrease) in Unearned Revenue	$ 3,207
Contract Liability Percent Change	42.00%

Revenue Recognition (Details 1)

Revenue Recognition (Details 1) $ in Millions	6 Months Ended
	Jul. 02, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 3.2
Revenue, Remaining Performance Obligation, Amount	$ 78.1

Other-net (Detail)

Other-net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Other Income and Expenses [Abstract]
Metal consignment fees	$ 2,464	$ 2,037	$ 4,614	$ 4,266
Amortization of intangible assets	1,005	106	2,178	294
Foreign currency (gain) loss	(33)	(2,486)	1,216	(2,548)
Net loss (gain) on disposal of fixed assets	24	9	(364)	55
Other items	734	(23)	1,024	(145)
Total	$ 4,194	$ (357)	$ 8,668	$ 1,922

Restructuring (Details Textual)

Restructuring (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021USD ($)	Jun. 26, 2020USD ($)Employee	Jul. 02, 2021USD ($)	Jun. 26, 2020USD ($)Employee
Restructuring Cost and Reserve [Line Items]
Restructuring expense (income)	$ 0	$ 2,387	$ (378)	$ 4,551
Precision Optics
Restructuring Cost and Reserve [Line Items]
Restructuring expense (income)			(400)
Performance Alloys and Composites
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | Employee		60		60
Restructuring expense (income)		$ 2,400		$ 4,600
Severance costs		900		1,400
Other restructuring costs		$ 1,500		$ 3,100
Accrued Liabilities [Member] | Performance Alloys and Composites
Restructuring Cost and Reserve [Line Items]
Remaining severance payments	100		100
Other Liabilities [Member] | Performance Alloys and Composites
Restructuring Cost and Reserve [Line Items]
Restructuring facility cost remaining	$ 500		$ 500

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	15.50%	19.00%	16.30%	16.00%
Effective income tax rate, amount			$ (0.5)	$ 0.8

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Numerator for basic and diluted EPS:
Net income	$ 17,868	$ 5,803	$ 34,635	$ 1,925
Denominator for basic EPS:
Weighted-average shares outstanding	20,429	20,317	20,402	20,350
Effect of dilutive securities:
Diluted potential common shares (in shares)	222	237	245	237
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding	20,651	20,554	20,647	20,587
Basic EPS (in USD per share)	$ 0.87	$ 0.29	$ 1.70	$ 0.09
Diluted EPS (in USD per share)	$ 0.87	$ 0.28	$ 1.68	$ 0.09
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	79	36	75	36
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	93	63	108	80
Performance Shares
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	50	138	62	121

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - shares	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Out-of-The-Money [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from diluted EPS calculation	52,709	191,500	64,478	230,893

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 67,281	$ 42,905
Work in process	172,425	156,093
Finished goods	51,033	51,780
Inventories, net	$ 290,739	$ 250,778

Inventories (Details 1)

Inventories (Details 1) - USD ($) $ in Millions	Dec. 31, 2020	Jul. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Notional Amount of Nonderivative Instruments		$ 456.3	$ 400
Prior Period Reclassification Adjustment	$ 44.6

Customer Prepayments (Details)

Customer Prepayments (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 02, 2021	Jul. 02, 2021	Dec. 31, 2020
Customer Prepayments [Abstract]
Future Customer Prepayments	$ 70	$ 70
Deferred Income	66.9	66.9	$ 58.8
Deferred Revenue, Additions	$ 2.2	$ 8

Pensions and Other Post-emplo_3

Pensions and Other Post-employment Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Pension Benefits
Components of net periodic benefit (credit) cost
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	987	1,215	1,973	2,429
Expected return on plan assets	(2,234)	(2,205)	(4,468)	(4,410)
Amortization of prior service cost (benefit)	0	0	0	0
Amortization of net loss (gain)	417	284	835	568
Net periodic benefit (credit) cost	(830)	(706)	(1,660)	(1,413)
Settlements	0	94	0	94
Total net benefit (credit) cost	(830)	(612)	(1,660)	(1,319)
Other Benefits
Components of net periodic benefit (credit) cost
Service cost	20	15	40	31
Interest cost	29	53	58	107
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (benefit)	(375)	(374)	(749)	(749)
Amortization of net loss (gain)	(68)	(83)	(137)	(166)
Net periodic benefit (credit) cost	(394)	(389)	(788)	(777)
Settlements	0	0	0	0
Total net benefit (credit) cost	$ (394)	$ (389)	$ (788)	$ (777)

Pensions and Other Post-emplo_4

Pensions and Other Post-employment Benefits (Detail 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Pension Benefits
Defined Benefit Plan Disclosure
Contributions by employer	$ 0	$ 0	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020	Apr. 02, 2021	Dec. 31, 2020	Mar. 27, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	$ (43,084)	$ (45,571)	$ (43,084)	$ (45,571)	$ (46,087)	$ (38,639)	$ (47,173)	$ (45,462)
Activity
Other comprehensive income (loss) before reclassifications	4,282	980	(1,458)	(1,636)
Amounts reclassified from accumulated other comprehensive income (loss)	(1,365)	701	(2,706)	1,315
Net current period other comprehensive income (loss) before tax	2,917	1,681	(4,164)	(321)
Deferred taxes	(86)	79	281	(212)
Other comprehensive income (loss)	3,003	1,602	(4,445)	(109)
Pension and Post Employment Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	(43,226)	(41,241)	(43,226)	(41,241)	(43,309)	(43,473)	(41,330)	(41,346)
Activity
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	77	70	234	46
Net current period other comprehensive income (loss) before tax	77	70	234	46
Deferred taxes	(6)	(19)	(13)	(59)
Other comprehensive income (loss)	83	89	247	105
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	(1,647)	(4,720)	(1,647)	(4,720)	(4,840)	4,017	(5,886)	(5,013)
Activity
Other comprehensive income (loss) before reclassifications	3,193	1,166	(5,664)	293
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current period other comprehensive income (loss) before tax	3,193	1,166	(5,664)	293
Deferred taxes	0	0	0	0
Other comprehensive income (loss)	3,193	1,166	(5,664)	293
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	1,789	390	1,789	390	2,062	817	43	897
Activity
Other comprehensive income (loss) before reclassifications	1,089	(186)	4,206	(1,929)
Amounts reclassified from accumulated other comprehensive income (loss)	(1,442)	631	(2,940)	1,269
Net current period other comprehensive income (loss) before tax	(353)	445	1,266	(660)
Deferred taxes	(80)	98	294	(153)
Other comprehensive income (loss)	(273)	347	972	(507)
Foreign currency forward contract | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	1,603	1,065	1,603	1,065	1,462	519	1,214	1,324
Activity
Other comprehensive income (loss) before reclassifications	183	(201)	1,268	(343)
Amounts reclassified from accumulated other comprehensive income (loss)	0	8	140	7
Net current period other comprehensive income (loss) before tax	183	(193)	1,408	(336)
Deferred taxes	42	(44)	324	(77)
Other comprehensive income (loss)	141	(149)	1,084	(259)
Precious Metal Contracts [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	186	(779)	186	(779)	320	(170)	(841)	(452)
Activity
Other comprehensive income (loss) before reclassifications	(239)	(411)	502	(1,234)
Amounts reclassified from accumulated other comprehensive income (loss)	65	491	(39)	809
Net current period other comprehensive income (loss) before tax	(174)	80	463	(425)
Deferred taxes	(40)	18	107	(98)
Other comprehensive income (loss)	(134)	62	356	(327)
Copper swaps | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Rollforward]
Accumulated other comprehensive loss	0	104	0	104	$ 280	$ 468	$ (330)	$ 25
Activity
Other comprehensive income (loss) before reclassifications	1,145	426	2,436	(352)
Amounts reclassified from accumulated other comprehensive income (loss)	(1,507)	132	(3,041)	453
Net current period other comprehensive income (loss) before tax	(362)	558	(605)	101
Deferred taxes	(82)	124	(137)	22
Other comprehensive income (loss)	$ (280)	$ 434	$ (468)	$ 79

Stock-based Compensation Expe_3

Stock-based Compensation Expense (Detail) - Stock Appreciation Rights (SARs)	6 Months Ended
	Jul. 02, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.57%
Dividend yield	0.70%
Volatility	37.60%
Expected term (in years)	4 years 7 months 6 days

Stock-based Compensation Expe_4

Stock-based Compensation Expense Textual (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,200	$ 3,100	$ 3,800	$ 4,100
Unamortized compensation cost	$ 12,700		$ 12,700
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			52,709
Weighted average exercise price on SARs granted in period			$ 68.82
Grant date fair value per unit (in usd per share)			$ 20.66
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			55,064
Grant date fair value per unit (in usd per share)			$ 68.44
Vesting period			3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in usd per share)			$ 83.78
Vesting period			3 years
Director Equity Plan [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period			9,904
Grant date fair value per unit (in usd per share)			$ 75.77
Vesting period			1 year

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Financial Assets [Abstract]
Deferred compensation investments	$ 3,881	$ 3,802
Foreign currency forward contracts	477	107
Precious metal swaps	258	127
Copper swaps	0	632
Total Financial Assets	4,616	4,668
Financial Liabilities [Abstract]
Deferred compensation liability	3,881	3,802
Foreign currency forward contracts	151	1,203
Precious metal swaps	17	349
Copper swaps	0	27
Total Financial Liabilities	4,049	5,381
Fair Value, Inputs, Level 1
Financial Assets [Abstract]
Deferred compensation investments	3,881	3,802
Foreign currency forward contracts	0	0
Precious metal swaps	0	0
Copper swaps	0	0
Total Financial Assets	3,881	3,802
Financial Liabilities [Abstract]
Deferred compensation liability	3,881	3,802
Foreign currency forward contracts	0	0
Precious metal swaps	0	0
Copper swaps	0	0
Total Financial Liabilities	3,881	3,802
Fair Value, Inputs, Level 2
Financial Assets [Abstract]
Deferred compensation investments	0	0
Foreign currency forward contracts	477	107
Precious metal swaps	258	127
Copper swaps	0	632
Total Financial Assets	735	866
Financial Liabilities [Abstract]
Deferred compensation liability	0	0
Foreign currency forward contracts	151	1,203
Precious metal swaps	17	349
Copper swaps	0	27
Total Financial Liabilities	168	1,579
Fair Value, Inputs, Level 3
Financial Assets [Abstract]
Deferred compensation investments	0	0
Foreign currency forward contracts	0	0
Precious metal swaps	0	0
Copper swaps	0	0
Total Financial Assets	0	0
Financial Liabilities [Abstract]
Deferred compensation liability	0	0
Foreign currency forward contracts	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) - Not designated as hedging instrument - Foreign currency forward contract - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Prepaid expenses
Derivative Instruments, Gain (Loss)
Notional amount, asset	$ 62,324	$ 62,012
Fair value, asset	142	107
Other liabilities and accrued items
Derivative Instruments, Gain (Loss)
Notional amount, liability	12,427	7,695
Fair value, liability	$ 75	$ 55

Derivative Instruments and He_4

Derivative Instruments and Hedging Activity (Details - Designated as hedges) - Designated as hedging instrument - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional amount total	$ 40,683	$ 36,068
Fair value total	500	765
Prepaid expenses
Derivative [Line Items]
Notional amount, asset	29,043	8,380
Fair value, asset	564	759
Prepaid expenses | Foreign currency forward contracts | Yen
Derivative [Line Items]
Notional amount, asset	3,778	0
Fair value, asset	107	0
Prepaid expenses | Foreign currency forward contracts | Euro
Derivative [Line Items]
Notional amount, asset	20,727	0
Fair value, asset	199	0
Prepaid expenses | Precious metal swaps
Derivative [Line Items]
Notional amount, asset	4,538	2,155
Fair value, asset	258	127
Prepaid expenses | Copper swaps
Derivative [Line Items]
Notional amount, asset	0	6,225
Fair value, asset	0	632
Other assets
Derivative [Line Items]
Notional amount, asset	2,097	0
Fair value, asset	29	0
Other assets | Foreign currency forward contracts | Yen
Derivative [Line Items]
Notional amount, asset	275	0
Fair value, asset	3	0
Other assets | Foreign currency forward contracts | Euro
Derivative [Line Items]
Notional amount, asset	1,822	0
Fair value, asset	26	0
Other liabilities and accrued items
Derivative [Line Items]
Notional amount, liability	6,889	27,688
Fair value, liability	80	1,524
Other liabilities and accrued items | Foreign currency forward contracts | Yen
Derivative [Line Items]
Notional amount, liability	471	2,668
Fair value, liability	2	59
Other liabilities and accrued items | Foreign currency forward contracts | Euro
Derivative [Line Items]
Notional amount, liability	5,900	17,611
Fair value, liability	61	1,089
Other liabilities and accrued items | Precious metal swaps
Derivative [Line Items]
Notional amount, liability	518	4,964
Fair value, liability	17	349
Other liabilities and accrued items | Copper swaps
Derivative [Line Items]
Notional amount, liability	0	2,445
Fair value, liability	0	27
Other long-term liabilities
Derivative [Line Items]
Notional amount, liability	2,654	0
Fair value, liability	13	0
Other long-term liabilities | Foreign currency forward contracts | Yen
Derivative [Line Items]
Notional amount, liability	271	0
Fair value, liability	0	0
Other long-term liabilities | Foreign currency forward contracts | Euro
Derivative [Line Items]
Notional amount, liability	2,383	0
Fair value, liability	$ 13	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activity (Details - Reclassificatoins from AOCI) - Designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ (1,442)	$ 631	$ (2,940)	$ 1,269
Net sales | Foreign currency forward contracts
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	0	8	140	7
Cost of sales | Precious metal swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	65	491	(39)	809
Cost of sales | Copper swaps
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss) on Derivative, Net	$ (1,507)	$ 132	$ (3,041)	$ 453

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
	Jul. 02, 2021	Jun. 26, 2020	Jul. 02, 2021	Jun. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ (0.4)	$ 1.7	$ 1.2	$ 2.3

Contingencies (Detail)

Contingencies (Detail) $ in Millions	6 Months Ended
	Jul. 02, 2021USD ($)claim	Dec. 31, 2020USD ($)
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 | $	$ 5.2	$ 5.5
Loss Contingency, Pending Claims, Number | claim	2

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Borrowings under Credit Agreement	$ 56,500	$ 34,000
Foreign debt	2,773	3,157
Fixed rate industrial development revenue bonds	0	1,322
Total debt outstanding	59,273	38,479
Current portion of long-term debt	(435)	(1,937)
Long-term debt	$ 58,838	$ 36,542

Debt (Details) 1

Debt (Details) 1 - USD ($) $ in Thousands	Jul. 02, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Borrowings under Credit Agreement	$ 56,500	$ 34,000
Line of Credit Facility, Interest Rate at Period End	1.46%	1.65%
Line of Credit Facility, Remaining Borrowing Capacity	$ 273,000	$ 245,800
Letter of Credit
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 47,300	$ 48,100