Materion (MTRN) 10-K 16 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Jan. 31, 2023	Jul. 01, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-15885
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,488,381,335
Entity Common Stock, Shares Outstanding		20,543,518
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2023 Annual Meeting of Shareholders are incorporated by reference into Part III.
Entity Central Index Key	0001104657
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Cleveland, Ohio
Auditor Firm ID	42

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 1,757,109	$ 1,510,644	$ 1,176,274
Cost of sales	1,413,229	1,226,882	983,641
Gross margin	343,880	283,762	192,633
Selling, general, and administrative expense	169,338	163,777	133,963
Research and development expense	28,977	26,575	20,283
Goodwill impairment charges (Note M)	0	0	9,053
Asset impairment charges (Note M)	0	0	1,419
Restructuring expense (income)	1,573	(438)	11,237
Other — net (Note E)	24,237	16,737	8,463
Operating profit	119,755	77,111	8,215
Other non-operating (income) expense — net (Note O)	(5,250)	(5,115)	(3,939)
Interest expense - net	21,905	4,901	3,879
Income before income taxes	103,100	77,325	8,275
Income tax expense (benefit) (Note G)	17,110	4,851	(7,187)
Net income	$ 85,990	$ 72,474	$ 15,462
Basic earnings per share:
Net income per share of common stock (in usd per share)	$ 4.19	$ 3.55	$ 0.76
Diluted earnings per share:
Net income per share of common stock (in usd per share)	$ 4.14	$ 3.50	$ 0.75
Weighted-average number of shares of common stock outstanding:
Basic (in shares)	20,511	20,422	20,338
Diluted (in shares)	20,760	20,689	20,603

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 85,990	$ 72,474	$ 15,462
Other comprehensive income:
Foreign currency translation adjustment	(5,869)	(6,904)	9,030
Derivative and hedging activity, net of tax expense (benefit) of $1,387, $482, and $(28), respectively	4,655	1,603	(80)
Pension and post-employment benefit adjustment, net of tax expense (benefit) of $518, $1,094 and $(651), respectively	(526)	3,771	(2,127)
Other comprehensive income (loss)	(1,740)	(1,530)	6,823
Comprehensive income	$ 84,250	$ 70,944	$ 22,285

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Derivative and hedging activity, tax benefit	$ 1,387	$ 482	$ (28)
Pension and post employment benefit adjustment, tax benefit (expense)	$ 518	$ 1,094	$ (651)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 85,990	$ 72,474	$ 15,462
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	53,436	44,137	42,384
Amortization of deferred financing costs in interest expense	1,734	967	790
Stock-based compensation expense (non-cash)	8,813	6,517	5,528
Amortization of pension and post-retirement costs	(146)	437	(151)
Loss (gain) on sale of property, plant, and equipment	14	(282)	466
Deferred income tax (benefit) expense	1,733	(12,957)	(9,850)
Impairment charges	0	0	10,472
Net pension curtailments and settlements	(551)	0	94
Changes in assets and liabilities, net of acquired assets and liabilities:
Decrease (increase) in accounts receivable	(4,377)	(30,490)	(707)
Decrease (increase) in inventory	(63,986)	(43,458)	(1,288)
Decrease (increase) in prepaid and other current assets	(1,604)	(3,855)	2,475
Increase (decrease) in accounts payable and accrued expenses	12,860	40,219	(21,877)
Increase (decrease) in unearned revenue	207	106	2,935
Increase (decrease) in interest and taxes payable	154	(220)	(157)
Increase (decrease) in unearned income due to customer prepayments	21,942	13,752	54,103
Other — net	(261)	2,894	378
Net cash provided by operating activities	115,958	90,241	101,057
Cash flows from investing activities:
Payments for acquisition, net of cash acquired	(2,971)	(392,240)	(130,715)
Payments for purchase of property, plant, and equipment	(77,608)	(102,910)	(67,274)
Proceeds from settlement of currency exchange contract	0	0	3,249
Proceeds from sale of property, plant, and equipment	850	881	33
Net cash used in investing activities	(79,729)	(494,269)	(194,707)
Cash flows from financing activities:
Proceeds from (repayments of) borrowings under revolving credit agreement, net	(9,046)	118,297	34,000
Proceeds from issuance of debt	9,276	300,000	0
Repayment of debt	(19,299)	(2,054)	(20,634)
Principal payments under finance lease obligations	(2,736)	(2,819)	(2,213)
Cash dividends paid	(10,160)	(9,697)	(9,257)
Deferred financing costs	0	(7,403)	0
Repurchase of common stock	0	0	(6,766)
Payments for withholding taxes for stock-based compensation awards	(3,593)	(3,318)	(2,221)
Net cash provided by (used in) financing activities	(35,558)	393,006	(7,091)
Effects of exchange rate changes	(2,032)	(394)	1,612
Net change in cash and cash equivalents	(1,361)	(11,416)	(99,129)
Cash and cash equivalents at beginning of period	14,462	25,878	125,007
Cash and cash equivalents at end of period	$ 13,101	$ 14,462	$ 25,878

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents (Note A)	$ 13,101	$ 14,462
Accounts receivable (Note A)	215,211	213,819
Inventories, net (Notes A and I)	423,080	361,115
Prepaid and other current assets	39,056	37,856
Total current assets	690,448	627,252
Deferred income taxes (Notes A and G)	3,265	5,431
Property, plant, and equipment (Notes A and J)	1,209,205	1,132,223
Less allowances for depreciation, depletion, and amortization	(760,440)	(723,248)
Property, plant, and equipment — net	448,765	408,975
Operating lease, right-of-use assets	64,249	63,096
Intangible assets (Notes A and M)	143,219	156,736
Other assets (Note O)	22,535	27,369
Goodwill (Notes A and M)	319,498	318,620
Total Assets	1,691,979	1,607,479
Current liabilities
Short-term debt (Note N)	21,105	15,359
Accounts payable	107,899	86,243
Salaries and wages	35,543	37,544
Other liabilities and accrued items	54,993	53,388
Income taxes (Notes A and G)	3,928	4,205
Unearned revenue (Note D)	15,496	7,770
Total current liabilities	238,964	204,509
Other long-term liabilities	12,181	14,954
Operating lease liabilities	59,055	57,099
Finance lease liabilities	13,876	16,327
Retirement and post-employment benefits (Note O)	20,422	33,394
Unearned income (Notes A and K)	107,736	97,962
Long-term income taxes (Notes A and G)	665	1,190
Deferred income taxes (Notes A and G)	28,214	27,216
Long-term debt (Note N)	410,876	434,388
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 for both 2022 and 2021)	288,100	271,978
Retained earnings	769,418	693,756
Common stock in treasury (6,605 shares for 2022 and 6,700 shares for 2021)	(220,864)	(209,920)
Accumulated other comprehensive loss (Note P)	(41,909)	(40,169)
Other equity	5,245	4,795
Total shareholders’ equity	799,990	720,440
Total Liabilities and Shareholders’ Equity	$ 1,691,979	$ 1,607,479

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Serial preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Serial preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares, issued (in shares)	27,148,000	27,148,000
Treasury stock, shares (in shares)	6,605,000	6,700,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Shares	Common Shares Held in Treasury	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Other Equity
Common shares beginning balance (in shares) at Dec. 31, 2019			20,404
Common shares held in treasury beginning balance (in shares) at Dec. 31, 2019				6,744
Beginning balance at Dec. 31, 2019	$ 645,743	$ 0	$ 249,674	$ (186,845)	$ 624,954	$ 0	$ (45,462)	$ 3,422
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,462
Other comprehensive income	6,729						6,729
Net pension curtailments and settlements	94						94
Cash dividends declared	(9,257)				(9,257)
Stock-based compensation activity (in shares)			117	117
Stock-based compensation activity	5,619		$ 8,867	$ (3,147)	(101)
Payments for withholding taxes for stock-based compensation awards (in shares)			39	39
Payments for withholding taxes for stock-based compensation awards	(2,221)			$ (2,221)
Repurchase of shares (in shares)			158	158
Repurchase of shares	(6,766)			$ (6,766)
Directors' deferred compensation (in shares)			4	4
Directors' deferred compensation	227		$ 101	$ (208)				334
Common shares ending balance (in shares) at Dec. 31, 2020			20,328
Common shares held in treasury ending balance (in shares) at Dec. 31, 2020				6,820
Ending balance at Dec. 31, 2020	655,630		$ 258,642	$ (199,187)	631,058		(38,639)	3,756
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	72,474				72,474
Other comprehensive income	(1,530)						(1,530)
Net pension curtailments and settlements	0
Cash dividends declared	(9,697)				(9,697)
Stock-based compensation activity (in shares)			164	164
Stock-based compensation activity	6,517		$ 13,142	$ (6,546)	(79)
Payments for withholding taxes for stock-based compensation awards (in shares)			49	49
Payments for withholding taxes for stock-based compensation awards	(3,318)			$ (3,318)
Directors' deferred compensation (in shares)			5	5
Directors' deferred compensation	364		$ 194	$ (869)				1,039
Common shares ending balance (in shares) at Dec. 31, 2021			20,448
Common shares held in treasury ending balance (in shares) at Dec. 31, 2021				6,700
Ending balance at Dec. 31, 2021	720,440		$ 271,978	$ (209,920)	693,756		(40,169)	4,795
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	85,990
Other comprehensive income	(1,740)						(1,740)
Net pension curtailments and settlements	(551)
Cash dividends declared	(10,160)				(10,160)
Stock-based compensation activity (in shares)			135	135
Stock-based compensation activity	8,813		$ 15,977	$ (6,996)	(168)
Payments for withholding taxes for stock-based compensation awards (in shares)			43	43
Payments for withholding taxes for stock-based compensation awards	(3,593)			$ (3,593)
Directors' deferred compensation (in shares)			3	3
Directors' deferred compensation	240		$ 145	$ (355)				450
Common shares ending balance (in shares) at Dec. 31, 2022			20,543
Common shares held in treasury ending balance (in shares) at Dec. 31, 2022				6,605
Ending balance at Dec. 31, 2022	$ 799,990		$ 288,100	$ (220,864)	$ 769,418		$ (41,909)	$ 5,245

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.495	$ 0.475	$ 0.455

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Organization: Materion Corporation (the Company) is a holding company with subsidiaries that have operations in the United States, Europe, and Asia. These operations manufacture advanced engineered materials used in a variety of end markets, including semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center. The Company has four reportable segments: Performance Materials, Electronic Materials, Precision Optics, and Other. Other includes unallocated corporate costs. Refer to Note C for additional segment details. The Company distributes its products through a combination of company-owned facilities and independent distributors and agents. Business Combinations: The Company records assets acquired and liabilities assumed at the date of acquisition at their respective fair values. 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. See Note B for further discussion of the acquisition of HCS-Electronic Materials which was completed on November 1, 2021. Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. Consolidation: The Consolidated Financial Statements include the accounts of Materion Corporation and its subsidiaries. All of the Company’s subsidiaries were wholly owned as of December 31, 2022. Intercompany accounts and transactions are eliminated in consolidation. Cash Equivalents: All highly liquid investments with a maturity of three months or less when purchased are considered to be cash equivalents. Accounts Receivable: An allowance for doubtful accounts is maintained for the expected losses resulting from the inability of customers to pay amounts due. The Company considers the current market conditions and credit losses related to the Company's trade receivables based on the macroeconomic environment, geographic considerations, and other expected market trends. Additionally, the allowance is based upon identified delinquent accounts, customer payment patterns, and other analyses of historical data and trends. Accounts receivable were net of an allowance for credit losses of $0.6 million and $0.5 million at December 31, 2022 and December 31, 2021, respectively. The change in the allowance for credit losses includes expense and net write-offs, neither of which were material. The Company extends credit to customers based upon their financial condition, and collateral is not generally required. Inventories: Inventories are stated at net realizable value. The associated inventory reserve was $0.4 million and $0.3 million at December 31, 2022 and 2021, respectively. All of the Company's inventories, except for its bertrandite ore mine which values inventory using a weighted average cost method, including raw materials, manufacturing supplies inventory as well as international (outside the U.S.) inventories, have been valued using the first-in, first-out (FIFO) method as of December 31, 2022 and 2021. Property, Plant, and Equipment: Property, plant, and equipment is stated on the basis of cost. Depreciation is computed principally by the straight-line method, except certain assets for which depreciation may be computed by the units-of-production method. The depreciable lives that are used in computing the annual provision for depreciation by class of asset are primarily as follows: Years Land improvements 10 to 20 Buildings 20 to 40 Leasehold improvements Life of lease Machinery and equipment 3 to 15 Furniture and fixtures 4 to 10 Automobiles and trucks 3 to 8 Research equipment 3 to 10 Computer hardware 3 to 10 Computer software 3 to 10 An asset acquired under a finance lease will be recorded at the lesser of the present value of the projected lease payments or the fair value of the asset and will be depreciated in accordance with the above schedule. Leasehold improvements will be depreciated over the life of the improvement if it is shorter than the life of the lease. Repair and maintenance costs are expensed as incurred. Mineral Resources and Mine Development: Property acquisition costs are capitalized as mineral resources on the balance sheet and are depleted using the units-of-production method based upon total estimated recoverable proven reserves of the beryllium-bearing bertrandite ore body. The Company uses beryllium pounds as the unit of accounting measure, and depletion expense is recorded on a pro-rata basis based upon the amount of beryllium pounds extracted as a percentage of total estimated beryllium pounds contained in the ore body. Mine development costs at our open pit surface mines include drilling, infrastructure, other related costs to delineate an ore body and the removal of overburden to initially expose an ore body. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as exploration expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves. In 2020, the Company expanded a mine to further develop an ore body. Since the pre-production phase ended when ore was first extracted from this mine, the Company recognized approximately $12.9 million of mine development costs in 2020 as a component of cost of sales. This expansion is expected to benefit future periods. The cost of removing overburden and waste materials to access the ore body at an open-pit mine prior to the production phase is capitalized during the development of an open-pit mine and are capitalized at each pit. These costs are amortized as the ore is extracted using the units-of-production method based upon total estimated recoverable proven reserves for the individual pit. The Company uses beryllium pounds as the unit of accounting measure for recording amortization. To the extent that the aforementioned costs benefit an entire ore body, the costs are amortized over the estimated useful life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block area. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of costs applicable to sales. All other drilling and related costs are expensed as incurred. Goodwill and Other Intangible Assets: Goodwill is reviewed annually for impairment or more frequently if impairment indicators arise. The Company conducts its annual goodwill impairment assessment as of the first day of the fourth quarter, or more frequently under certain circumstances. For the purpose of the goodwill impairment assessment, the Company has the option to perform a qualitative assessment (commonly referred to as "step zero") to determine whether further quantitative analysis of impairment of goodwill is necessary or a quantitative assessment ("step one") where the Company estimates the fair value of each reporting unit using a discounted cash flow method (income approach). Goodwill is assigned to the reporting unit, which is the operating segment level or one level below the operating segment. Intangible assets with finite lives are amortized using the straight-line method or effective interest method, as applicable, over the periods estimated to be benefited, which is generally 20 years or less. Finite-lived intangible assets are also reviewed for impairment if facts and circumstances warrant. Long-Lived Asset Impairment: Management performs impairment tests of long-lived assets, including property and equipment, whenever an event occurs or circumstances change that indicate that the carrying value may not be recoverable or the useful life of the asset has changed. Upon indications of impairment, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The asset group would be considered impaired when the estimated future undiscounted cash flows generated by the asset group are less than its carrying value. If such undiscounted cash flows indicate that the carrying value of the asset group is not recoverable, impairment losses are measured by comparing the estimated fair value of the asset group to its carrying amount. Derivatives: The Company recognizes all derivatives 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, a component of shareholders’ equity, until the hedged item is recognized in earnings. If the derivative is designated as a fair value hedge, changes in fair value are offset against the change in the fair value of the hedged asset, liability, or commitment through earnings. The ineffective portion of a derivative’s change in fair value, if any, is recognized in earnings immediately. If a derivative is not a hedge, changes in its fair value are adjusted through the income statement. Asset Retirement Obligation: The Company records a liability to recognize the legal obligation to remove an asset at the time the asset is acquired or when the legal liability arises. The liability is recorded for the present value of the ultimate obligation by discounting the estimated future cash flows using a credit-adjusted risk-free interest rate. The liability is accreted over time, with the accretion charged to expense. An asset equal to the fair value of the liability is recorded concurrent with the liability and depreciated over the life of the underlying asset. Unearned Income: Expenditures for capital equipment to be reimbursed under government contracts are recorded in property, plant, and equipment, while the reimbursements for those expenditures are recorded in unearned income, a liability on the balance sheet. When the assets subject to reimbursement are placed in service, the total cost is depreciated over the useful lives, and the unearned income liability is reduced and credited to cost of sales on the Consolidated Statements of Income ratably with the annual depreciation expense. Also included in Unearned Income as of December 31, 2022 and 2021, are $85.9 million and $72.6 million, respectively, of customer prepayments. See Note K for additional discussion. Advertising Costs: The Company expenses all advertising costs as incurred. Advertising costs were $0.3 million in 2022, 2021, and 2020. Stock-based Compensation: The Company recognizes stock-based compensation expense based on the grant date fair value of the award over the period during which an employee is required to provide service in exchange for the award. Stock-based awards include performance-based restricted stock units (PRSUs), restricted stock units (RSUs), and stock appreciation rights (SARs). The fair value of PRSUs and RSUs is primarily based on the closing market price of a share of the Company's common stock on the date of grant, modified as appropriate to take into account the features of such grants. SARs are granted with an exercise price equal to the closing price of the Company's common shares on the date of grant. The fair value of SARs is determined using a Black-Scholes option-pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate, and the expected dividend yield. The portion of the PRSU awards that are valued based on the Company's total shareholder return as compared to peers is valued using Monte Carlo simulations, which incorporates assumptions regarding the expected volatility, the expected correlation, and the risk-free interest rate. See Note Q for additional information about stock-based compensation. Capitalized Interest: Interest expense associated with active capital asset construction and mine development projects is capitalized and amortized over the future useful lives of the related assets. Income Taxes: The Company uses the liability method in measuring the provision for income taxes and recognizing deferred tax assets and liabilities on the balance sheet. The Company will record a valuation allowance to reduce the deferred tax assets to the amount that is more likely than not to be realized, as warranted by current facts and circumstances. The Company applies a more-likely-than-not recognition threshold for all tax uncertainties and will record a liability for those tax benefits that have a less than 50% likelihood of being sustained upon examination by the taxing authorities. Net Income Per Share: Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of all dilutive common stock equivalents as appropriate using the treasury stock method. New Pronouncements Adopted: In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . This guidance requires companies to apply ASC 606 on the acquisition date to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. This is an exception to the recognition and measurement principle in ASC 805 which generally requires an acquirer to recognize and measure the assets it acquires and the liabilities it assumes at fair value on the acquisition date. For public entities, the guidance is effective for fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company has early adopted this guidance and has applied it to the accounting for contract assets and contract liabilities acquired as part of the HCS-Electronic Materials (as defined in Note B) acquisition. 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 to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The guidance is available immediately and the Company has applied this guidance in accounting for the interest rate swap as discussed in Note R. Any additional reference rate reform impacts will be accounted for in accordance with ASU 2020-04. No other recently issued or effective ASUs had, or are expected to have, a material effect on the Company's results of operations, financial condition, or liquidity. Reclassifications Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation. T hese reclassifications had no impact on the Company’s financial position, results of operations, or cash flows.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition On November 1, 2021, the Company acquired the industry-leading electronic materials business of H.C. Starck Group GmbH (HCS-Electronic Materials) for a cash purchase price of approximately $398.9 million, on a cash-free, debt-free basis, subject to a customary purchase price adjustment mechanism. In 2022, acquisition-related inventory step-up expense was $7.5 million and classified in Cost of Sales and transaction and integration costs were $4.2 million and classified in Selling, General and Administrative expenses in the accompanying consolidated statements of income. The Company financed the purchase price for the HCS-Electronic Materials acquisition with a new $300 million five-year term loan pursuant to a delayed draw term loan facility entered during October 2021 and $103 million of borrowings under its amended revolving credit facility, which was also extended to expire five years in October 2026. This acquired business operates within the Performance Materials and Electronic Materials segments, and the results of operations are included as of the date of acquisition. The combination of Materion and HCS-Electronic Materials enhances the Company's position as the leading supplier to the high growth semiconductor industry. During the period subsequent to the HCS-Electronic Materials acquisition, we made certain measurement period adjustments to the acquired assets and liabilities assumed due to clarification of information utilized to determine fair value during the measurement period. Additionally, we paid a working capital true-up of approximately $3.0 million during the second quarter of 2022, which increased the total purchase price. As of November 1 2022, the purchase price allocation was final. The following table sets forth cumulative measurement period changes since the acquisition date, as well as the initial allocation of the estimated fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of HCS-Electronic Materials, with the excess recorded to goodwill: (Thousands) Initial Allocation of Consideration Measurement Period Adjustments Final Allocation Assets: Cash and cash equivalents $ 3,685 $ — $ 3,685 Accounts receivable 28,352 35 28,387 Inventories 70,681 — 70,681 Prepaid and other current assets 660 (450) 210 Property, plant, and equipment 44,681 355 45,036 Operating lease, right-of-use assets 6,120 — 6,120 Intangible assets 107,800 — 107,800 Other long-term assets 4,528 — 4,528 Goodwill 178,181 3,144 181,325 Total assets acquired $ 444,688 $ 3,084 $ 447,772 Liabilities: Accounts payable $ 12,139 $ (240) $ 11,899 Salaries and wages 2,516 $ 625 3,141 Other liabilities and accrued items 28 $ — 28 Income taxes 2,183 $ (457) 1,726 Other long-term liabilities 5,543 $ 215 5,758 Operating lease liabilities 6,042 $ — 6,042 Deferred income taxes 20,300 $ (30) 20,270 Total liabilities assumed $ 48,751 $ 113 $ 48,864 Net assets acquired $ 395,937 $ 2,971 $ 398,908 Assets acquired and liabilities assumed are recognized at their respective fair values as of the acquisition date. The Company engaged specialists to assist in the valuation of inventories, property, plant, and equipment, and intangible assets. In determining the fair value of the amounts above, inventory is fair valued based on the comparative sales method for work in process and finished goods at the selling price less cost to dispose and remaining manufacturing effort. The remaining working capital accounts' carrying values approximate fair value. For property, plant and equipment and intangible asset values, the Company utilized various forms of the income, cost and market approaches depending on the asset being valued. The Company used a relief from royalty method under the income approach to value its trade names and developed technology and the multi-period excess earnings method under the income approach to value customer relationships. The significant assumptions used to estimate the fair value of these intangible assets included the discount rate and certain assumptions that form the basis of future cash flows (including revenue growth rates, royalty rates for trade names and developed technology, and attrition rates for customer relationships). Inputs were generally determined by taking into account independent appraisals and historical data, supplemented by current and anticipated market conditions and are considered Level 3 assets as the assumptions are unobservable inputs developed by the Company. As part of the acquisition, the Company recorded approximately $181.3 million of goodwill allocated between its Electronic Materials and Performance Materials segments based on the relative fair values. Goodwill was calculated as the excess of the purchase price over the estimated fair values of the tangible net assets and intangible assets acquired and primarily attributable to the synergies expected to arise after the acquisition dates. The goodwill is not expected to be deductible for U.S. tax purposes. The following table reports the intangible assets by asset category as of the closing date: (Thousands) Value at Acquisition Useful Life Customer relationships $ 50,200 13 years Technology 35,300 13 years Trade name 22,300 15 years Total $ 107,800 Had the HCS-Electronic Materials acquisition occurred as of the beginning of fiscal 2020, the Company's sales and income (loss) before taxes would have been as follows: (Unaudited) Year Ended December 31, 2021 2020 Net Sales $ 1,659,620 $ 1,308,300 Profit income (loss) before taxes $ 91,551 $ (17,761) The unaudited pro forma financial information has been calculated after applying our accounting policies and adjusting the historical results with pro forma adjustments that assume the acquisition occurred on January 1, 2020. These unaudited pro forma results do not represent financial results realized, nor are they intended to be a projection of future results. The transaction accounting adjustments and other adjustments are based on available information and assumptions that the Company’s management believes are reasonable. Such adjustments are estimates and actual experience may differ from expectations. The amortization of inventory step-up from the preliminary purchase price allocation of approximately $15 million of expense is reflected in the 2020 unaudited pro forma income (loss) before taxes above. Additionally, the 2020 pro forma income (loss) before taxes includes approximately $10 million of additional interest expense related to committed financing to fund the acquisition, annual acquisition-related intangible asset amortization expense of $8.2 million, and transaction expenses of $5.5 million as if it occurred on January 1, 2020.

Segment Reporting and Geographi

Segment Reporting and Geographic Information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Reporting and Geographic Information	Segment Reporting and Geographic Information The Company changed two segment names during the first quarter of 2022: Performance Alloys and Composites became Performance Materials, and Advanced Materials became Electronic Materials. The Company believes these names better represent the markets served and the advanced next-generation product solutions provided to our customers. Other than the name changes, there were no changes in the composition or structure of the Company's reportable segments in 2022. The Company has the following operating segments: Performance Materials, Electronic Materials, Precision Optics, and Other. The Company’s operating 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. The segments are determined based on several factors, including the availability of discrete financial information and the Company’s organizational and management structure. Performance Materials provides advanced engineered solutions comprised of beryllium and non-beryllium containing alloy systems and custom engineered parts in strip, bulk, rod, plate, bar, tube, and other customized shapes. Electronic Materials produces advanced chemicals, microelectronics packaging, precious metal, non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal preforms, high temperature braze materials, and ultra-fine wire. Precision 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. Beginning with the first quarter of 2022, the Company began using earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) as the main operating income metric used by management to measure the financial performance of the Company and each segment. The Company made this change because recent acquisitions have resulted in increased purchase accounting amortization expense, which in turn has affected the comparability of results across periods and when compared to other companies. Management believes EBITDA is useful to investors as it better represents the Company's performance, excluding the effect of the recent acquisition of significant intangible assets that are now being amortized. EBITDA is not a measurement of financial performance under U.S. GAAP. Although the Company uses EBITDA to assess the performance of its business and for various other purposes, the use of this non-GAAP financial measure as an analytical tool has limitations, and it should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reported in accordance with U.S. GAAP. The below table presents financial information for each segment and a reconciliation of EBITDA to Net Income (the most directly comparable GAAP financial measure) for 2022 and 2021: (Thousands) 2022 2021 Net sales: Performance Materials (1) $ 671,525 $ 511,874 Electronic Materials (1) $ 971,902 866,816 Precision Optics 113,682 131,954 Other — — Net sales 1,757,109 1,510,644 Segment EBITDA: Performance Materials $ 125,227 89,028 Electronic Materials 67,806 $ 44,852 Precision Optics 13,753 25,854 Other (28,345) (33,371) Total Segment EBITDA 178,441 126,363 Income tax expense 17,110 4,851 Interest expense - net 21,905 4,901 Depreciation, depletion and amortization 53,436 44,137 Net income $ 85,990 $ 72,474 (1) Excludes inter-segment sales of $0.7 million for Performance Materials and $14.0 million for Electronic Materials for 2022 and $0.2 million for Performance Materials and $13.9 million for Electronic Materials for 2021. Inter-segment sales are eliminated in consolidation. Other geographic information includes the following: (Thousands) 2022 2021 2020 Net sales United States $ 867,053 $ 794,862 $ 641,727 Asia 519,395 426,303 329,968 Europe 355,691 270,213 189,281 All other 14,970 19,266 15,298 Total $ 1,757,109 $ 1,510,644 $ 1,176,274 Property, plant, and equipment, net by country deployed United States $ 372,779 $ 327,969 $ 223,340 All other 75,986 81,006 86,346 Total $ 448,765 $ 408,975 $ 309,686 International sales include sales from international operations and direct exports from our U.S. operations. No individual country, other than the United States, or customer accounted for 10% or more of the Company’s net sales for the years presented. The following table disaggregates revenue for each segment by end market for 2022 and 2021: (Thousands) Performance Materials Electronic Materials Precision Optics Other Total 2022 End Market Semiconductor $ 8,666 $ 784,517 $ 5,107 $ — $ 798,290 Industrial 168,012 47,407 31,948 — 247,367 Aerospace and Defense 110,884 5,882 16,988 — 133,754 Consumer Electronics 49,859 1,144 22,666 — 73,669 Automotive 93,581 7,590 9,922 — 111,093 Energy 50,021 98,844 — — 148,865 Telecom and Data Center 65,230 149 — — 65,379 Other 125,272 26,369 27,051 — 178,692 Total $ 671,525 $ 971,902 $ 113,682 $ — $ 1,757,109 2021 End Market Semiconductor $ 8,481 $ 683,085 $ 2,572 $ — $ 694,138 Industrial 123,337 45,025 32,779 — 201,141 Aerospace and Defense 86,046 5,509 23,622 — 115,177 Consumer Electronics 41,694 1,184 32,485 — 75,363 Automotive 105,466 7,321 8,356 — 121,143 Energy 23,913 99,330 — — 123,243 Telecom and Data Center 53,510 173 — — 53,683 Other 69,427 25,189 32,140 — 126,756 Total $ 511,874 $ 866,816 $ 131,954 $ — $ 1,510,644

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	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. Shipping and Handling Costs : The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill its promise to transfer the associated products. Accordingly, customer payments for shipping and handling costs are recorded as a component of net sales, and related costs are recorded as a component of cost of sales. Taxes Collected from Customers and Remitted to Governmental Authorities : Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Product Warranty : Substantially all of the Company’s customer contracts contain a warranty that provides assurance that the purchased product will function as expected and in accordance with certain specifications. The warranty is intended to safeguard the customer against existing defects and does not provide any incremental service to the customer. Transaction Price Allocated to Future Performance Obligations: ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied at December 31, 2022. 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 December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was approximate l y $63.9 million. Contract Costs : The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs primarily relate to sales commissions, which are included in selling, general, and administrative expenses. Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) December 31, 2022 December 31, 2021 $ change % change Accounts receivable, trade $ 215,726 $ 213,584 $ 2,142 1 % Unbilled receivables 10,765 7,961 2,804 35 % Unearned revenue 15,496 7,770 7,726 99 % 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 2022. Unbilled receivables represent expenditures on contracts, plus applicable profit margin, not yet billed. Unbilled receivables are normally billed and collected within one year. Billings made on contracts are recorded as a reduction of unbilled receivables. Unearned revenue is recorded for consideration received from customers in advance of satisfaction of the related performance obligations. The Company recognized approximately $7.1 million of the December 31, 2021 unearned amounts as revenue during 2022. The Company recognized approximately $6.8 million of the December 31, 2020 unearned amounts as revenue during 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	12 Months Ended
	Dec. 31, 2022
Other-net [Abstract]
Other-net	Other-net Other-net is summarized for 2022, 2021, and 2020 as follows: (Income) Expense (Thousands) 2022 2021 2020 Metal consignment fees $ 12,212 $ 9,305 $ 8,587 Amortization of intangible assets 12,400 5,973 2,377 Foreign currency loss (gain) (679) 1,573 (2,569) Net (gain) loss on disposal of fixed assets 14 (282) 466 Other items 290 168 (398) Total other-net $ 24,237 $ 16,737 $ 8,463

Interest Expense-net

Interest Expense-net	12 Months Ended
	Dec. 31, 2022
Interest [Abstract]
Interest Expense-net	Interest Expense-net The following chart summarizes the interest incurred, capitalized, and paid in 2022, 2021, and 2020: (Thousands) 2022 2021 2020 Interest incurred, net $ 23,014 $ 5,277 $ 3,889 Less: Capitalized interest 1,109 376 10 Total net expense $ 21,905 $ 4,901 $ 3,879 Interest paid $ 21,190 $ 3,652 $ 3,442 The increase in interest expense in 2022 versus 2021 was driven by increased borrowings under our revolving credit facility and new term loan during 2021 primarily to finance the acquisition of HCS-Electronic Materials. Amortization of deferred financing costs within interest expense was $1.7 million in 2022, $1.0 million in 2021, and $0.8 million in 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On August 9, 2022, President Biden signed the CHIPS and Science Act (CHIPS Act) into law. The CHIPS Act provides incentives, beginning in 2023, for manufacturing semiconductors and certain tooling equipment used in the semiconductor manufacturing process. On August 16, 2022, President Biden also signed the Inflation Reduction Act of 2022 (IRA) into law. The IRA, among other provisions, includes a new corporate alternative minimum tax on certain large corporations, an excise tax on stock buybacks, and tax credits for certain critical minerals. The Company does not expect to be an applicable corporation subject to the alternative minimum tax based on our reported GAAP earnings the past three years. The CHIPS Act and the IRA did not have an impact to our consolidated financial statements for the year ended December 31, 2022. We continue to examine the impacts the CHIPS Act and the IRA may have on the Company in 2023 and subsequent years. Income (loss) before income taxes and income tax expense (benefit) are comprised of the following: (Thousands) 2022 2021 2020 Income (loss) before income taxes: Domestic $ 90,403 $ 54,684 $ (1,153) Foreign 12,697 22,641 9,428 Total income (loss) before income taxes $ 103,100 $ 77,325 $ 8,275 Income tax expense: Current income tax expense (benefit): Domestic $ 12,571 $ 14,603 $ 812 Foreign 2,806 3,205 1,851 Total current $ 15,377 $ 17,808 $ 2,663 Deferred income tax (benefit) expense: Domestic $ 588 $ (7,953) $ (5,641) Foreign 1,145 (5,004) (4,209) Total deferred $ 1,733 $ (12,957) $ (9,850) Total income tax expense (benefit) $ 17,110 $ 4,851 $ (7,187) A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows: 2022 2021 2020 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax effect 1.7 (0.3) (10.0) Effect of excess of percentage depletion over cost depletion (3.1) (3.4) (43.0) Foreign derived intangible income deduction (1.7) (2.3) (1.8) Non-deductible goodwill impairment — — 7.1 Research and development tax credit (2.0) (1.2) (16.4) Impact of foreign operations 0.6 0.3 (5.3) Non-deductible transaction costs — 1.6 6.9 Interest from tax authorities — — (3.8) Adjustment to unrecognized tax benefits (0.5) (1.9) 1.8 Equity compensation (0.9) (0.5) (5.3) Non-deductible officers' compensation 1.2 1.4 6.8 Valuation allowance 0.6 (8.5) (45.5) Other items (0.3) 0.1 0.6 Effective tax rate 16.6 % 6.3 % (86.9) % Deferred tax assets and (liabilities) are determined based on temporary differences between the financial reporting and tax basis of assets and liabilities. Deferred tax assets and (liabilities) recorded in the Consolidated Balance Sheets consist of the following: December 31, (Thousands) 2022 2021 Asset (liability) Post-employment benefits other than pensions $ 1,230 $ 1,714 Other reserves 1,831 1,901 Deferred compensation 3,850 3,263 Environmental reserves 1,321 1,358 Inventory 6,118 — Research expenditures 7,069 — Revenue recognition 7,878 5,027 Lease liabilities 12,651 11,639 Interest expense carryforward 12,470 14,163 Pensions — 1,393 Accrued compensation expense 5,477 6,410 Net operating loss and credit carryforwards 9,915 11,423 Subtotal 69,810 58,291 Valuation allowance (4,935) (4,957) Total deferred tax assets 64,875 53,334 Depreciation (42,481) (24,484) Lease assets (12,078) (11,184) Inventory — (2,329) Amortization (32,925) (35,542) Mine development — (917) Pensions (400) — Unrealized gains (1,940) (663) Total deferred tax liabilities (89,824) (75,119) Net deferred tax liabilities $ (24,949) $ (21,785) The Company had deferred income tax assets offset with a valuation allowance for certain foreign and state net operating losses, a domestic capital loss carryforward, state investment and research and development tax credit carryforwards, and deferred tax assets that are not likely to be realized for certain of the Company's controlled foreign corporations. The Company intends to maintain a valuation allowance on these deferred tax assets until a realization event occurs to support reversal of all or a portion of the allowance. At December 31, 2022, for income tax purposes, the Company had foreign net operating loss carryforwards of $21.2 million that do not expire, and $3.2 million that expire in calendar years 2023 through 2027. The Company had state net operating loss carryforwards of $16.3 million that expire in calendar years 2023 through 2040 and state tax credits of $4.1 million that expire in calendar years 2023 through 2037. The Company also had a capital loss carryforward of $7.4 million that expires in 2026. A valuation allowance of $4.9 million has been provided against certain foreign and state net operating loss carryforwards, a U.S. capital loss carryforward, and state tax credits due to uncertainty of their realization. The Company files income tax returns in the U.S. federal jurisdiction, and in various state, local, and foreign jurisdictions. With limited exceptions, the Company is no longer subject to U.S. federal examinations for years before 2019, state and local examinations for years before 2018, and foreign examinations for tax years before 2017. We operate under a tax holiday in Malaysia, which was extended and is effective through July 31, 2027. The tax holiday is conditional upon our meeting certain employment, sales, and investment thresholds. The impact of this holiday decreased foreign taxes by $3.0 million in 2022. A reconciliation of the Company’s unrecognized tax benefits for the year-to-date periods ended December 31, 2022 and 2021 is as follows: (Thousands) 2022 2021 Balance at January 1 $ 1,142 $ 2,360 Additions to tax provisions related to the current year — 431 Additions to tax positions related to prior years — — Reduction to tax positions related to prior years (8) (45) Lapses on statutes of limitations (482) (1,604) Balance at December 31 $ 652 $ 1,142 Included in the balance of unrecognized tax benefits, including interest and penalties, as of December 31, 2022 and December 31, 2021 are $0.7 million and $1.2 million, respectively, of tax benefits that would affect the Company’s effective tax rate if recognized. It is reasonably possible that the amount of unrecognized tax benefits will change in the next twelve months; however, we do not expect the change to have a material impact on the Consolidated Statements of Income or the Consolidated Balance Sheets. The Company recognizes interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying Consolidated Statements of Income. Accrued interest and penalties are included on the related tax liability line in the Consolidated Balance Sheets. The amount of interest and penalties, net of the related tax benefit, recognized in earnings was immaterial during 2022, 2021, and 2020. As of December 31, 2022 and 2021, accrued interest and penalties, net of the related tax benefit, were immaterial. Income taxes paid during 2022, 2021, and 2020, were approximately $14.5 million, $21.8 million, and $3.9 million, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted EPS: (Thousands except per share amounts) 2022 2021 2020 Numerator for basic and diluted EPS: Net income $ 85,990 $ 72,474 $ 15,462 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,511 20,422 20,338 Effect of dilutive securities: Stock appreciation rights 81 78 39 Restricted stock units 102 124 102 Performance-based restricted stock units 66 65 124 Diluted potential common shares 249 267 265 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,760 20,689 20,603 Basic EPS $ 4.19 $ 3.55 $ 0.76 Diluted EPS $ 4.14 $ 3.50 $ 0.75 Equity awards covering shares of common stock totaling 56,636 in 2022, 55,598 in 2021, and 166,255 in 2020 were excluded from the diluted EPS calculation as their effect would have been anti-dilutive.

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories in the Consolidated Balance Sheets are summarized as follows: December 31, (Thousands) 2022 2021 Raw materials and supplies $ 113,694 $ 93,518 Work in process 249,105 221,638 Finished goods 60,281 45,959 Inventories, net 423,080 361,115 Inventory balances are presented net of an excess and obsolete reserve totaling $19.8 million and $23.9 million at December 31, 2022 and December 31, 2021, respectively. The Company takes and records the results of a physical inventory count of its precious metals on a quarterly basis. The Company's precious metal operations include a refinery that processes precious metal-containing scrap and other materials from its customers, as well as its own internally generated scrap. The Company also outsources portions of its refining requirements to other vendors, particularly those materials with longer processing times. The precious metal content within these various refine streams may be in solutions, sludges, and other non-homogeneous forms and can vary over time based upon the input materials, yield rates, and other process parameters. The determination of the weight of the precious metal content within the refine streams as part of a physical inventory count requires the use of estimates and calculations based upon assays, assumed recovery percentages developed from actual historical data and other analyses, the total estimated volumes of solutions and other materials within the refinery, data from the Company's refine vendors, and other factors. The resulting calculated weight of the precious metals in the Company's refine operations may differ, in either direction, from what its records indicate that the Company should have on hand, which would then result in an adjustment to its pre-tax income in the period when the physical inventory was taken, and the related estimates were made.

Property, Plant, and Equipment

Property, Plant, and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment on the Consolidated Balance Sheets is summarized as follows: December 31, (Thousands) 2022 2021 Land $ 26,579 $ 26,627 Buildings 200,223 173,907 Machinery and equipment 770,628 687,502 Software 44,886 45,445 Construction in progress 100,188 130,838 Allowances for depreciation (720,455) (690,166) Subtotal 422,049 374,153 Finance leases 31,662 32,865 Allowances for depreciation (7,395) (6,193) Subtotal 24,267 26,672 Mineral resources 4,980 4,980 Mine development 30,059 30,059 Allowances for amortization and depletion (32,590) (26,889) Subtotal 2,449 8,150 Property, plant, and equipment — net $ 448,765 $ 408,975 The Company received $63.5 million from the U.S. Department of Defense (DoD), in previous periods, for reimbursement of the DoD's share of the cost of equipment. This amount was recorded in property, plant, and equipment and the reimbursements are reflected in Unearned income on the Consolidated Balance Sheets. The equipment was placed in service during 2012, and its full cost is being depreciated in accordance with Company policy. The unearned income liability is being reduced ratably with the depreciation expense recorded over the life of the equipment. Unearned income was reduced by $4.4 million in 2022 and $4.3 million in both 2021 and 2020 and credited to cost of sales in the Consolidated Statements of Income, offsetting the impact of the depreciation expense on the associated equipment on the Company's cost of sales and gross margin. The unamortized unearned income balance was $15.3 million and $19.7 million at December 31, 2022 and December 31, 2021, respectively. We recorded depreciation and depletion expense of $35.2 million in 2022, $31.4 million in 2021, and $30.9 million in 2020. Depreciation, depletion, and amortization as shown on the Consolidated Statement of Cash Flows is net of the reduction in the unearned income liability in 2022, 2021, and 2020. The net c arrying value of capitalize d software was $4.6 million and $5.4 million at December 31, 2022 and December 31, 2021, respectively. Depreciation expense related to software was $1.8 million in 2022, 2021, and 2020, respectively. As of December 31, 2022 and December 31, 2021 capital expenditures in accounts payable was $12.1 million and $2.1 million, respectively.

Customer Prepayments

Customer Prepayments	12 Months Ended
	Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Customer Prepayments	Customer Prepayments In 2020, the Company entered into an investment agreement and a master supply agreement with a customer to procure equipment to manufacture product for the customer. The customer provided prepayments to the Company to fund the necessary infrastructure improvements and procure the equipment necessary to supply the customer with the desired product. The Company owns, operates and maintains the equipment that is being used to manufacture product for the customer. Revenue will be recognized as the Company fulfills purchase orders and ships the commercial product to the customer, as product delivery is considered the satisfaction of the performance obligation. Additionally, during the second quarter of 2022, the Company entered into an amendment to the investment agreement with the same customer to procure additional equipment to manufacture product for the customer. As of December 31, 2022, the Company has received approximately $21.9 million in prepayments under the terms of this amended agreement. As of December 31, 2022 and 2021, $85.9 million and $72.6 million, respectively, of prepayments are classified as Unearned income on the Consolidated Balance Sheet. The prepayments will remain in Unearned income until commercial purchase orders are received for product serviced out of the equipment, at which time a portion of the purchase order value related to prepayments will be reclassified to Unearned revenue. As of December 31, 2022 $4.5 million of the prepayments are classified as Unearned revenue. No amounts of the prepayments were classified as short-term unearned revenue as of December 31, 2021

Leasing Arrangements

Leasing Arrangements	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leasing Arrangements	Leasing Arrangements The Company leases warehouse and manufacturing real estate, and manufacturing and computer equipment under operating leases with lease terms ranging up to 25 years. Several operating lease agreements contain options to extend the lease term and/or options for early termination. The lease term consists of the non-cancelable period of the lease, periods covered by options to extend the lease if the Company is reasonably certain to exercise the option, and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the option. As of December 31, 2022 , we had no material leases that had yet to commence. The discount rate implicit within the leases is generally not determinable, and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for leases is determined based on the lease term over which lease payments are made, adjusted for the impact of collateral. The components of operating and finance lease cost for 2022 and 2021 were as follows: (Thousands) 2022 2021 Components of lease expense Operating lease cost $ 13,381 $ 11,825 Finance lease cost Amortization of right-of-use assets 1,202 1,989 Interest on lease liabilities 819 1,009 Total lease cost $ 15,402 $ 14,823 The Company straight-lines its expense of fixed payments for operating leases over the lease term and expenses the variable lease payments in the period incurred. These variable lease payments are not included in the calculation of right-of-use assets or lease liabilities. Supplemental balance sheet information related to the Company's operating and finance leases as of December 31, 2022 and 2021 is as follows: (Thousands, except lease term and discount rate) 2022 2021 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 64,249 $ 63,096 Other liabilities and accrued items 8,401 7,906 Operating lease liabilities 59,055 57,099 Finance Leases Property, plant, and equipment $ 31,662 $ 32,865 Allowances for depreciation, depletion, and amortization (7,395) (6,193) Finance lease assets, net $ 24,267 $ 26,672 Other liabilities and accrued items $ 1,485 $ 2,800 Finance lease liabilities 13,876 16,327 Total principal payable on finance leases $ 15,361 $ 19,127 Weighted Average Remaining Lease Term Operating leases 11.78 11.47 Finance leases 17.98 16.96 Weighted Average Discount Rate Operating leases 6.08% 6.19% Finance leases 5.11% 4.99% Future maturities of the Company's lease liabilities as of December 31, 2022 are as follows: Finance Operating (Thousands) Leases Leases 2023 $ 2,216 $ 12,338 2024 1,385 9,642 2025 1,230 8,743 2026 1,204 7,355 2027 1,204 5,913 2028 and thereafter 16,579 51,574 Total lease payments 23,818 95,565 Less amount of lease payment representing interest 8,457 28,109 Total present value of lease payments $ 15,361 $ 67,456 Supplemental cash flow information related to leases was as follows: (Thousands) 2022 2021 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,653 $ 17,580 Operating cash flows from finance leases 818 1,009 Financing cash flows from finance leases 2,736 2,819 Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,967 9,191 Finance leases — —
Leasing Arrangements	Leasing Arrangements The Company leases warehouse and manufacturing real estate, and manufacturing and computer equipment under operating leases with lease terms ranging up to 25 years. Several operating lease agreements contain options to extend the lease term and/or options for early termination. The lease term consists of the non-cancelable period of the lease, periods covered by options to extend the lease if the Company is reasonably certain to exercise the option, and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the option. As of December 31, 2022 , we had no material leases that had yet to commence. The discount rate implicit within the leases is generally not determinable, and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for leases is determined based on the lease term over which lease payments are made, adjusted for the impact of collateral. The components of operating and finance lease cost for 2022 and 2021 were as follows: (Thousands) 2022 2021 Components of lease expense Operating lease cost $ 13,381 $ 11,825 Finance lease cost Amortization of right-of-use assets 1,202 1,989 Interest on lease liabilities 819 1,009 Total lease cost $ 15,402 $ 14,823 The Company straight-lines its expense of fixed payments for operating leases over the lease term and expenses the variable lease payments in the period incurred. These variable lease payments are not included in the calculation of right-of-use assets or lease liabilities. Supplemental balance sheet information related to the Company's operating and finance leases as of December 31, 2022 and 2021 is as follows: (Thousands, except lease term and discount rate) 2022 2021 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 64,249 $ 63,096 Other liabilities and accrued items 8,401 7,906 Operating lease liabilities 59,055 57,099 Finance Leases Property, plant, and equipment $ 31,662 $ 32,865 Allowances for depreciation, depletion, and amortization (7,395) (6,193) Finance lease assets, net $ 24,267 $ 26,672 Other liabilities and accrued items $ 1,485 $ 2,800 Finance lease liabilities 13,876 16,327 Total principal payable on finance leases $ 15,361 $ 19,127 Weighted Average Remaining Lease Term Operating leases 11.78 11.47 Finance leases 17.98 16.96 Weighted Average Discount Rate Operating leases 6.08% 6.19% Finance leases 5.11% 4.99% Future maturities of the Company's lease liabilities as of December 31, 2022 are as follows: Finance Operating (Thousands) Leases Leases 2023 $ 2,216 $ 12,338 2024 1,385 9,642 2025 1,230 8,743 2026 1,204 7,355 2027 1,204 5,913 2028 and thereafter 16,579 51,574 Total lease payments 23,818 95,565 Less amount of lease payment representing interest 8,457 28,109 Total present value of lease payments $ 15,361 $ 67,456 Supplemental cash flow information related to leases was as follows: (Thousands) 2022 2021 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,653 $ 17,580 Operating cash flows from finance leases 818 1,009 Financing cash flows from finance leases 2,736 2,819 Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,967 9,191 Finance leases — —

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets The cost and accumulated amortization of intangible assets subject to amortization as of December 31, 2022 and 2021, is as follows: 2022 2021 (Thousands) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 110,347 $ (28,950) $ 81,397 $ 111,220 $ (22,777) $ 88,443 Technology 44,886 (10,420) 34,466 45,014 (6,917) 38,097 Licenses and other 34,300 (10,562) 23,738 34,468 (7,879) 26,589 Total $ 189,533 $ (49,932) $ 139,601 $ 190,702 $ (37,573) $ 153,129 During 2021, the Company acquired $50.2 million in customer relationships with a useful life of 13 years and $35.3 million in technology with a useful life of 13 years, as well as a $22.3 million trade name with a useful life of 15 years related to the HCS-Electronic Materials acquisition. During 2020, the Company accelerated amortization on $26.2 million of intangible assets for its LAC business that was shut down on December 31, 2020. These assets were fully amortized as of December 31, 2020 and fully written off in 2021 with no impact to the Consolidated Statements of Income in 2021. Amortization expense for 2022, 2021, and 2020 was $12.4 million, $6.0 million , and $2.4 million, respectively. Estimated amortization e xpense for each of the five succeeding years is as follows: Amortization (Thousands) Expense 2023 12,473 2024 12,473 2025 11,851 2026 10,626 2027 10,471 Intangible assets also includes deferred costs relating to the Company's revolving credit and consignments lines of $3.6 million and $3.6 million at December 31, 2022 and 2021 , respectively. Goodwill In 2021, the Company acquired HCS-Electronic Materials for a total purchase price of $398.9 million, and recorded goodwill of $181.3 million. Goodwill of $157.0 million and $24.3 million associated with the HCS-Electronic Materials acquisition was allocated to the Electronic Materials and Performance Materials segments, respectively. The balance of goodwill at December 31, 2022 and 2021 was $319.5 million and $318.6 million, respectively. A summary of changes in goodwill by reportable segment is as follows: (Thousands) Performance Materials Electronic Materials Precision Optics Total Balance at December 31, 2020 $ 1,899 $ 50,527 $ 92,490 $ 144,916 Acquisition 23,904 154,277 — 178,181 Impairment charge — — — — Other — (284) (4,193) (4,477) Balance at December 31, 2021 $ 25,803 $ 204,520 $ 88,297 $ 318,620 Acquisition — — Impairment charge — — — — Other 354 2,150 (1,626) 878 Balance at December 31, 2022 $ 26,157 206,670 $ 86,671 $ 319,498 Due to recent acquisitions, the Company elected to perform a quantitative annual impairment assessment of its reporting units' goodwill as of October 1, 2022 and determined that the estimated fair values for each of its reporting units exceeded their carrying values, therefore no impairment charges were necessary. The estimated fair value of the Company's Precision Optics reporting unit exceeded the carrying value by less than 10%. Management believes the future sales growth and EBITDA margins in the long range plan, terminal growth rate and the discount rate used in the valuations requires significant use of judgment. If any of our reporting units do not meet our long range plan estimates or our discount rate increase significantly, we could be required to perform an interim goodwill impairment analysis or recognize charges in future periods. Any impairment charges that the Company may take in the future could be material to its consolidated results of operations and financial condition. The assumptions used for the reporting units with fair values exceeding carrying values of less than 10% are more sensitive to future performance and will be monitored accordingly. The results of the Company's 2022 and 2021 annual goodwill impairment assessments indicated that no goodwill impairment existed. The Company's accumulated goodwill impairment losses were $20.6 million as of December 31, 2022, 2021 and 2020. Accumulated impairment losses were from the closure of the LAC reporting unit which was closed as of December 31, 2020.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Long-term debt in the Consolidated Balance Sheets is summarized as follows: December 31, (Thousands) 2022 2021 Borrowings under Credit Agreement with average interest rate of 6.08% at December 31, 2022 and 2.12% at December 31, 2021 $ 143,250 $ 152,296 Borrowings under the Term Loan Facility 285,000 300,000 Foreign debt 7,541 2,252 Total long-term debt outstanding 435,791 454,548 Current portion of long-term debt (21,105) (15,359) Gross long-term debt $ 414,686 $ 439,189 Unamortized deferred financing fees (3,810) (4,801) Long-term debt $ 410,876 $ 434,388 Maturities on long-term debt instruments as of December 31, 2022 are as follows: (Thousands) 2023 21,105 2024 30,337 2025 30,337 2026 353,543 2027 204 2028 and thereafter 265 Total $ 435,791 In 2021, the Company amended and restated our $375.0 million revolving credit facility (Credit Agreement) in connection with the HCS-Electronic Materials acquisition. A $300 million delayed draw term loan facility was added to the Credit Agreement and the maturity date of the Credit Agreement was extended from 2024 to 2026. Moreover, the Credit Agreement also provides for an uncommitted incremental facility whereby, under certain conditions, the Company may be able to borrow additional term loans in an aggregate amount not to exceed $150.0 million. On November 1, 2021, Materion borrowed the full $300 million available under the delayed draw term loan facility and used the proceeds to pay a portion of the purchase price of the HCS-Electronic Materials acquisition. The Credit Agreement provides the Company and its subsidiaries with additional capacity to enter into facilities for the consignment of precious metals and copper, and provides enhanced flexibility to finance acquisitions and other strategic initiatives. Borrowings under the Credit Agreement are secured by substantially all of the assets of the Company and its direct subsidiaries, with the exception of non-mining real property, precious metals, copper and certain other assets. In January 2023, we amended the Credit Agreement to transition U.S. dollar denominated borrowings from LIBOR to the Secured Overnight Financial Rate (SOFR) for both the revolving credit agreement and the term loan and to increase the cap on precious metals facilities from $600 million to $615 million. The Credit Agreement allows the Company to borrow money at a premium over SOFR, following the January 2023 amendment, or prime rate and at varying maturities. The premium resets quarterly according to the terms and conditions available under the agreement. The Credit Agreement includes restrictive covenants relating to restrictions on additional indebtedness, acquisitions, dividends, and stock repurchases. In addition, the Credit Agreement includes covenants subject to a maximum leverage ratio and a minimum interest coverage ratio. We were in compliance with all of our debt covenants as of December 31, 2022 and December 31, 2021. Cash on hand up to $25 million can benefit the covenants and may benefit the borrowing capacity under the Credit Agreement. At December 31, 2022 and 2021, there was $428.3 million and $452.3 million outstanding under the Credit Agreement, respectively. At December 31, 2022 and 2021 there was $46.5 million and $46.3 million letters of credit outstanding against the credit sub-facility, respectively. The Company pays a variable commitment fee that may reset quarterly (0.28% as of December 31, 2022) on the available and unborrowed amounts under the revolving credit line. The available borrowings under the individual existing credit lines totaled $185.3 million as of December 31, 2022.

Pensions and Other Post-Employm

Pensions and Other Post-Employment Benefits	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Pensions and Other Post-Employment Benefits	Pensions and Other Post-Employment Benefits The obligation and funded status of the Company’s pension and other post-employment benefit plans are shown below. The Pension Benefits column aggregates defined benefit pension plans in the U.S., Germany, Liechtenstein, England, and the U.S. supplemental retirement plans. The Other Benefits column includes the domestic retiree medical and life insurance plan. Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Change in benefit obligation Benefit obligation at beginning of year $ 235,779 $ 246,107 $ 7,514 $ 8,190 Service cost 1,231 1,722 78 80 Interest cost 4,874 4,186 156 116 Net pension curtailments and settlements (3,104) — — — Acquisition — — — — Plan amendments — — — — Actuarial (gain) loss (61,819) (8,448) (1,800) (112) Benefit payments (5,821) (4,927) (443) (742) Foreign currency exchange rate changes and other (3,108) (2,861) — (18) Benefit obligation at end of year 168,032 235,779 5,505 7,514 Change in plan assets Fair value of plan assets at beginning of year 227,340 226,176 — — Plan settlements (3,104) — — — Acquisition — — — — Actual return on plan assets (53,283) 5,769 — — Employer contributions 831 955 — — Employee contributions 786 878 — — Benefit payments from fund (6,175) (5,399) — — Foreign currency exchange rate changes and other (1,799) (1,039) — — Fair value of plan assets at end of year 164,596 227,340 — — Funded status at end of year $ (3,436) $ (8,439) $ (5,505) $ (7,514) Amounts recognized in the Consolidated Other assets $ 11,761 $ 18,566 $ — $ — Other liabilities and accrued items (536) (1,662) (754) (754) Retirement and post-employment benefits (14,661) (25,343) (4,751) (6,760) Net amount recognized $ (3,436) $ (8,439) $ (5,505) $ (7,514) The benefit obligation decreased in 2022 due to actuarial gains that were driven by increases in the discount rate. The following amounts are included within accumulated other comprehensive loss at December 31, 2022 : Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Amounts recognized in other comprehensive income (before tax) consist of: Net actuarial loss (gain) $ 43,039 $ 42,440 $ (5,573) $ (4,044) Net prior service cost (credit) (617) (695) (556) (2,054) Net transition obligation/(asset) — 637 — — Net amount recognized $ 42,422 $ 42,382 $ (6,129) $ (6,098) The following table provides information regarding the accumulated benefit obligation: Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Additional information Accumulated benefit obligation for all defined benefit pension plans $ 167,366 $ 233,717 $ — $ — For defined benefit pension plans with benefit obligations in excess of plan assets: Aggregate benefit obligation 18,490 58,052 — — Aggregate fair value of plan assets 3,279 33,148 — — For defined benefit pension plans with accumulated benefit obligations in excess of plan assets: Aggregate accumulated benefit obligation 17,833 56,043 — — Aggregate fair value of plan assets 3,279 33,148 — — The following table summarizes components of net benefit cost: Pension Benefits Other Benefits (Thousands) 2022 2021 2020 2022 2021 2020 Net benefit cost Service cost $ 1,231 $ 1,722 $ 1,403 $ 78 $ 80 $ 59 Interest cost 4,874 4,186 5,234 156 116 213 Expected return on plan assets (9,570) (9,881) (9,333) — — — Amortization of prior service credit (78) (82) — (1,497) (1,497) (1,497) Recognized net actuarial loss (gain) 1,701 2,344 1,678 (272) (275) (332) Net periodic benefit (credit) cost (1,842) (1,711) (1,018) (1,535) (1,576) (1,557) Net pension curtailments and settlements (551) — 94 — — — Total net benefit (credit) cost $ (2,393) $ (1,711) $ (924) $ (1,535) $ (1,576) $ (1,557) Components of net periodic benefit cost, other than service cost, are included in Other non-operating (income) expense in the Consolidated Statements of Income. Additionally, Pension Benefit Guaranty Corporation premiums are reported within expected return on plan assets. The following table summarizes amounts recognized in other comprehensive income (OCI): Pension Benefits Other Benefits (Thousands) 2022 2021 2020 2022 2021 2020 Change in other comprehensive income OCI at beginning of year $ 42,382 $ 48,673 $ 48,073 $ (6,098) $ (7,525) $ (9,578) Increase (decrease) in OCI: Recognized during year — prior service cost (credit) 78 82 — 1,497 1,497 1,497 Recognized during year — net actuarial (losses) gains (1,701) (2,344) (1,678) 272 275 332 Occurring during year — prior service cost — — (799) — — — Occurring during year — net actuarial losses (gains) 1,112 (4,553) 3,146 (1,800) (345) 224 Other adjustments 551 — (94) — — — Foreign currency exchange rate changes 524 25 — — — OCI at end of year $ 42,422 $ 42,382 $ 48,673 $ (6,129) $ (6,098) $ (7,525) In determining the projected benefit obligation and the net benefit cost, as of a December 31 measurement date, the Company used the following assumptions: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Assumptions used to determine benefit obligations at fiscal year end Discount rate 2.16% - 5.54% 0.22% - 3.02% 0.03% - 2.76% 5.52 % 2.90 % 2.45 % Rate of compensation increase 1.75% - 3.00% 1.50% - 3.00% 1.50% - 3.00% 3.50 % 3.00 % 3.00 % Assumptions used to determine net cost for the fiscal year Discount rate 0.22% - 3.02% 0.03% - 2.76% 0.21% - 3.48% 2.90 % 2.45 % 3.20 % Expected long-term return on plan assets 1.20% - 5.25% 1.20% - 5.75% 1.80% - 6.00% N/A N/A N/A Rate of compensation increase 1.50% - 3.00% 1.50% - 3.00% 1.50% - 3.00% 3.00 % 3.00 % 3.00 % Discount Rate. The discount rate used to determine the present value of the projected and accumulated benefit obligation at the end of each year is established based upon the available market rates for high quality, fixed income investments whose maturities match the plan’s projected cash flows. The Company uses a spot-rate approach to estimate the service and interest cost components of net periodic benefit cost for its defined benefit pension plans. The spot-rate approach applies separate discount rates for each projected benefit payment in the calculation. Expected Long-Term Return on Plan Assets. Management establishes the domestic expected long-term rate of return assumption by reviewing historical trends and analyzing the current and projected market conditions in relation to the plan’s asset allocation and risk management objectives. Consideration is given to both recent plan asset performance as well as plan asset performance over various long-term periods of time, with an emphasis on the assumption being a prospective, long-term rate of return. Management consults with and considers the opinions of its outside investment advisers and actuaries when establishing the rate and reviews assumptions with the Audit Committee of the Board of Directors. Rate of Compensation Increase. The rate of compensation increase assumption is no longer applicable for the domestic defined benefit due to the Company freezing the plan effective January 1, 2020. The rate of compensation assumption to determine the benefit obligation and net cost for the domestic retiree medical plan was 3.5% in 2022 and 3.0% in both 2022 and 2021. Assumptions for the defined benefit pension plans in Germany, Liechtenstein, and England are determined separately from the U.S. plan assumptions, based on historical trends and current and projected market conditions in each respective country. One plan in Germany is unfunded. Assumed health care trend rates at fiscal year end 2022 2021 Health care trend rate assumed for next year 6.00% 6.00% Rate that the trend rate gradually declines to (ultimate trend rate) 5.00% 5.00% Year that the rate reaches the ultimate trend rate 2032 2028 Plan Assets The following tables present the fair values of the Company’s defined benefit pension plan assets as of December 31, 2022 and 2021 by asset category. The Company has some investments that are valued using net asset value (NAV) as the practical expedient and have not been classified in the fair value hierarchy. Refer to Note R for definitions of the fair value hierarchy. December 31, 2022 (Thousands) Total Level 1 Level 2 Level 3 Cash $ 1,058 $ 1,058 $ — $ — Equity securities (a) 37,083 37,083 — — Fixed-income securities (b) 13,314 13,314 — — Other types of investments: Real estate fund (c) 3,115 3,115 — — Total 54,570 54,570 — — Investments measured at NAV: (d) Pooled investment fund (e) 103,142 Multi-strategy hedge funds (f) 6,812 Private equity funds 72 Total assets at fair value $ 164,596 December 31, 2021 (Thousands) Total Level 1 Level 2 Level 3 Cash $ 4,777 $ 4,777 $ — $ — Equity securities (a) 49,618 49,618 — — Fixed-income securities (b) 14,344 14,344 — — Other types of investments: Real estate fund (c) 3,258 3,258 — — Total 71,997 71,997 — — Investments measured at NAV: (d) Pooled investment fund (e) 147,832 Multi-strategy hedge funds (f) 7,438 Private equity funds 73 Total assets at fair value $ 227,340 (a) Equity securities are primarily comprised of corporate stock and mutual funds directly held by the plans. Equity securities are valued using the closing price reported on the active market on which the individual securities are traded. (b) Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded. (c) Includes a mutual fund that typically invests at least 80% of its assets in equity and debt securities of companies in the real estate industry or related industries or in companies which own significant real estate assets at the time of investment. (d) Certain assets that are measured at fair value using the NAV practical expedient have not been classified in the fair value hierarchy. (e) Pooled investment fund consists of various investment types including equity investments covering a range of geographies and including investment managers that hold long and short positions, property investments, and other multi-strategy funds which combine a range of different credit, equity, and macro-orientated ideas and dynamically allocate funds across asset classes. (f) Includes a fund that invests in a broad portfolio of hedge funds. The Company’s domestic defined benefit pension plan investment strategy, as approved by the Governance and Organization Committee of the Board of Directors, is to employ an allocation of investments that will generate returns equal to or better than the projected long-term growth of pension liabilities so that the plan will be self-funding. The return objective is to maximize investment return to achieve and maintain a 100% funded status over time, taking into consideration required cash contributions. The allocation of investments is designed to maximize the advantages of diversification while mitigating the risk and overall portfolio volatility to achieve the return objective. Risk is defined as the annual variability in value and is measured in terms of the standard deviation of investment return. Under the Company’s investment policies, allowable investments include domestic equities, international equities, fixed income securities, cash equivalents, and alternative securities (which include real estate, private venture capital investments, hedge funds, and tactical asset allocation). Ranges, in terms of a percentage of the total assets, are established for each allowable class of security. Derivatives may be used to hedge an existing security or as a risk reduction strategy. Current asset allocation guidelines are to invest 0% to 40% in equity securities, 60% to 90% in fixed income securities and cash, and up to 20% in alternative securities. Management reviews the asset allocation on a quarterly or more frequent basis and makes revisions as deemed necessary. None of the plan assets noted above are invested in the Company’s common stock. Cash Flows Employer Contributions. The Company does not expect to contribute to its domestic defined benefit pension plan in 2023. All plan participants with an accrued benefit may elect an immediate payout in lieu of their future monthly annuity if the lump sum amount does not exceed $100,000. Estimated Future Benefit Payments. The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Other Benefits (Thousands) Pension Benefits Gross Benefit Net of 2023 7,565 767 767 2024 8,174 679 679 2025 8,880 608 608 2026 9,773 518 518 2027 10,638 478 478 2028 through 2032 56,634 1,815 1,815 Other Benefit Plans In addition to the plans shown above, the Company also has certain foreign subsidiaries with accrued unfunded pension and other post-employment arrangements. The liability for these arrangements was $0.5 million at December 31, 2022 and $1.1 million at December 31, 2021, and was included in retirement and post-employment benefits on the Consolidated Balance Sheets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income Changes in the components of accumulated other comprehensive (loss) income, including amounts reclassified out, for 2022, 2021, and 2020, and the balances in accumulated other comprehensive (loss) income as of December 31, 2022, 2021, and 2020 are as follows: Gains and Losses Pension and Post- Employment Benefits Foreign Currency Translation (Thousands) Foreign Currency Interest Rate Precious Metals Copper Total Total Balance at December 31, 2019 $ 1,324 $ — $ (452) $ 25 $ 897 $ (41,346) $ (5,013) $ (45,462) Other comprehensive income (loss) before reclassifications (1,268) — (1,675) 218 $ (2,725) (2,721) 9,030 3,584 Amounts reclassified from accumulated other comprehensive income 222 — 2,041 354 2,617 (57) — 2,560 Other comprehensive income (loss) before tax (1,046) — 366 572 (108) (2,778) 9,030 6,144 Deferred taxes on current period activity (241) — 84 129 (28) (651) — (679) Other comprehensive income (loss) after tax (805) — 282 443 (80) (2,127) 9,030 6,823 Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Other comprehensive income (loss) before reclassifications 2,252 — 508 2,444 5,204 4,428 (6,904) 2,728 Amounts reclassified from accumulated other comprehensive income 123 — (193) (3,049) (3,119) 437 — (2,682) Other comprehensive income (loss) before tax 2,375 — 315 (605) 2,085 4,865 (6,904) 46 Deferred taxes on current period activity 546 — 73 (137) 482 1,094 — 1,576 Other comprehensive income (loss) after tax 1,829 — 242 (468) 1,603 3,771 (6,904) (1,530) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Other comprehensive income (loss) before reclassifications (1,260) 8,113 (259) — 6,594 (394) (5,869) 331 Amounts reclassified from accumulated other comprehensive income (176) (250) (126) — (552) 386 — (166) Other comprehensive income (loss) before tax (1,436) 7,863 (385) — 6,042 (8) (5,869) 165 Deferred taxes on current period activity (331) 1,808 (90) — 1,387 518 — 1,905 Other comprehensive income (loss) after tax (1,105) 6,055 (295) — 4,655 (526) (5,869) (1,740) Balance at December 31, 2022 $ 1,243 $ 6,055 $ (223) $ — $ 7,075 $ (40,228) $ (8,756) $ (41,909) Reclassifications of gains and losses on foreign currency cash flow hedges from accumulated other comprehensive income are recorded in Net sales in the Consolidated Statements of Income while gains and losses on precious metal cash flow hedges are recorded in Cost of sales in the Consolidated Statements of Income. Refer to Note R for additional details on cash flow hedges.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation The Company maintains two stock incentive plans (the 2006 Stock Incentive Plan and the 2006 Non-employee Director Equity Plan) that have been approved by its shareholders. These plans authorize the granting of option rights, stock appreciation rights (SARs), performance-restricted shares, performance shares, performance units, restricted shares, and restricted stock units (RSUs). Stock-based compensation expense, which includes awards settled in shares and in cash and is recognized as a component of selling, general, and administrative (SG&A) expenses, was $9.0 million, $7.3 million, and $5.7 million in 2022, 2021, and 2020, respectively. The Company derives a tax deduction measured by the excess of the market value over the grant price at the date stock-based awards vest or are exercised. The Company recognized $1.0 million, $0.9 million, and $0.5 million of tax benefits in 2022, 2021, and 2020, respectively, relating to the issuance of common stock for the exercise/vesting of equity awards. The following sections provide information on awards settled in shares. SARs. The Company grants SARs to certain employees. Upon exercise of vested SARs, the participant will receive a number of shares of common stock equal to the spread (the difference between the market price of the Company’s common shares at the time of exercise and the strike price established on the grant date) divided by the common share price. The strike price of the SARs is equal to the market value of the Company’s common shares on the day of the grant. The number of SARs available to be issued is established by plans approved by the shareholders. The vesting period and the life of the SARs are established at the time of grant. The exercise of the SARs is generally satisfied by the issuance of treasury shares. SARs vest in equal installments annually over three years. SARs expire in seven years. The following table summarizes the Company's SARs activity during 2022: (Shares in thousands) Number of Weighted- Aggregate Weighted- Outstanding at December 31, 2021 260 $ 51.55 Granted 45 80.85 Exercised (49) 42.83 Cancelled — — Outstanding at December 31, 2022 256 58.38 $ 7,448 3.8 Vested and expected to vest as of December 31, 2022 256 58.38 7,448 3.8 Exercisable at December 31, 2022 160 50.56 5,928 2.8 A summary of the status and changes of shares subject to SARs and the related average price per share follows: (Shares in thousands) Number of Weighted- Nonvested as of December 31, 2021 100 $ 17.98 Granted 45 25.87 Vested (50) 17.47 Cancelled — — Nonvested as of December 31, 2022 95 $ 21.97 As of December 31, 2022, $1.3 million of expense with respect to non-vested SARs has yet to be recognized as expense over a weighted-average period of approximately 22 months. The total fair value of shares vested during 2022, 2021, and 2020 was $0.9 million, $0.8 million, and $1.5 million, respectively. The weighted-average grant date fair value for 2022, 2021, and 2020 was $25.87, $20.66, and $13.67, respectively. The fair value will be amortized to compensation cost on a straight-line basis over the vesting period of three years, or earlier if the employee is retirement eligible and continued vesting is approved by the Board of Directors as defined in the Plan. Stock-based compensation expense relating to SARs was $0.9 million in each of the last three years. The total intrinsic value of stock options exercised during 2022, 2021 and 2020 was $2.1 million, $1.6 million and $0.5 million, respectively. The fair value of the SARs was estimated on the grant date using the Black-Scholes pricing model with the following assumptions: 2022 2021 2020 Risk-free interest rate 1.56 % 0.57 % 1.41 % Dividend yield 0.6 % 0.7 % 0.9 % Volatility 38.5 % 37.6 % 31.8 % Expected lives (in years) 4.4 4.6 4.8 The risk-free rate of return was based on U.S. Treasury yields with a maturity equal to the expected life of the award. The dividend yield was based on the Company's historical dividend rate and stock price. The expected volatility of stock was derived by referring to changes in the Company's historical common stock prices over a time-frame similar to the expected life of the award. In addition to considering the vesting period and contractual term of the award for the expected life assumption, the Company analyzes actual historical exercise experience for previously granted awards. Restricted Stock Units (RSUs) - Employees. The Company may grant RSUs to employees of the Company. These units constitute an agreement to deliver shares of common stock to the participant at the end of the vesting period, which is defined at the date of the grant, and are forfeited should the holder’s employment terminate during the restriction period. The fair market value of the RSUs is determined on the date of the grant and is amortized over the vesting period. With the exception of the 2022 annual employee grant, the vesting period is typically three years unless the recipient is retirement eligible and continued vesting is approved by the Board of Directors. The 2022 annual employee grant vests in three equal annual installments on the anniversary of the grant date. The fair value of RSUs settled in stock is based on the closing stock price on the date of grant. The weighted-average grant date fair value for 2022, 2021, and 2020 was $80.96, $68.62, and $51.55, respectively. Cash-settled RSUs are accounted for as liability-based compensation awards and adjusted based on the closing price of Materion’s common stock over the vesting period of three years. Stock-based compensation expense relating to stock-settled RSUs was $3.5 million in 2022, $3.5 million in 2021, and $2.7 million in 2020. The unamortized compensation cost on the outstanding RSUs was $5.5 million as of December 31, 2022 and is expected to be recognized over a weighted-average period of 23 months. The total fair value of shares that vested during 2022 was $2.8 million, compared to $2.0 million in 2021 and $1.2 million in 2020. The following table summarizes the stock-settled RSU activity during 2022: (Shares in thousands) Number of Weighted- Outstanding at December 31, 2021 162 $ 59.23 Granted 61 80.96 Vested (49) 58.29 Forfeited (9) 64.91 Outstanding at December 31, 2022 165 $ 67.31 RSUs - Non-Employee Directors. In 2022, 2021, and 2020, 11,120, 9,904, and 15,976 RSUs, with a one year vesting period, were granted to certain non-employee members of the Board of Directors. The weighted-average grant date fair value of these RSUs was $81.59, $75.77, and $48.42 in 2022, 2021, and 2020, respectively. The Company recognized $0.9 million of expense related to these awards in 2022, compared to $0.8 million of expense in 2021 and $0.7 million of expense in 2020. At December 31, 2022, $0.3 million of expense with respect to non-vested RSU awards granted to the Board of Directors has yet to be recognized and will be amortized into expense over a weighted-average period of approximately four months. Long-term Incentive Plans. Under the long-term incentive compensation plans, executive officers and selected other employees receive restricted stock unit awards based upon the Company’s performance over the defined period, typically three years. Total units earned for grants made in 2022, 2021, and 2020, may vary between 0% and 200% of the units granted based on the attainment of performance targets during the related three-year period. All grants will be settled in Materion common shares and are equity classified. Vesting of performance-based awards is contingent upon the attainment of threshold performance objectives. The following table summarizes the activity related to performance-based RSUs during 2022: (Shares in thousands) Number of Weighted- Outstanding at December 31, 2021 119 $ 70.77 Granted 38 95.44 Vested (43) 69.84 Forfeited (3) 79.01 Outstanding at December 31, 2022 111 $ 79.31 Compensation expense is based upon the performance projections for the plan period of three years, the percentage of requisite service rendered, and the fair market value of the Company’s common shares on the date of grant. The offset to the compensation expense for the portion of the award to be settled in shares is recorded within shareholders’ equity and was $3.6 million for 2022, $2.2 million for 2021, and $2.0 million for 2020. Directors' Deferred Compensation. Non-employee directors may defer all or part of their compensation into the Company’s common stock. The fair value of the deferred shares is determined at the share acquisition date and is recorded within shareholders’ equity. At December 31, 2022, shareholders’ equity included 0.1 million shares related to this plan.

Fair Value Information and Deri

Fair Value Information and Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Information and Derivative Financial Instruments	Fair Value Information and Derivative 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 upon 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 on the Consolidated Balance Sheets at December 31, 2022 and 2021: Fair Value Measurements (Thousands) Total Quoted Prices Significant Other December 31, 2022 Financial Assets Deferred compensation investments $ 3,001 $ 3,001 $ — $ — Foreign currency forward contracts 1,291 — 1,291 — Interest rate swap 7,863 7,863 Precious metal swaps 118 — 118 — Total $ 12,273 $ 3,001 $ 9,272 $ — Financial Liabilities Deferred compensation liability $ 3,001 $ 3,001 $ — $ — Foreign currency forward contracts 1,757 — 1,757 — Interest rate swap — — Precious metal swaps 411 — 411 — Total $ 5,169 $ 3,001 $ 2,168 $ — December 31, 2021 Financial Assets Deferred compensation investments $ 4,246 $ 4,246 $ — $ — Foreign currency forward contracts 3,368 — 3,368 — Precious metal swaps 116 — 116 — Total $ 7,730 $ 4,246 $ 3,484 $ — Financial Liabilities Deferred compensation liability $ 4,246 $ 4,246 $ — $ — Foreign currency forward contracts 136 — 136 — Precious metal swaps 24 — 24 — Total $ 4,406 $ 4,246 $ 160 $ — 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 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. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company's long-term variable-rate debt is a reasonable estimate of its fair value. As noted in Note R, the Company entered into a $100.0 million interest rate swap to hedge the interest rate risk on the fixed rate portion of the Credit Agreement. The fair value of the interest rate swap asset was $7.9 million as of December 31, 2022, and was determined using level 2 inputs. The total of the outstanding amount on the fixed rate debt and the fair value of the interest rate swap approximates the total fair value of the fixed rate debt as of December 31, 2022. The carrying values of the other working capital items in the Consolidated Balance Sheets approximate fair values at December 31, 2022 and 2021. The Company uses derivative contracts to hedge portions of its foreign currency exposures and may also use derivatives to hedge a portion of its precious metal and interest expense fluctuations. The objectives and strategies for using derivatives in these areas are as follows: Interest Rate. On March 4, 2022, the Company entered into a $100.0 million interest rate swap to hedge the interest rate risk on the Credit Agreement described in Note P. The swap hedges the change in 1-month LIBOR from March 4, 2022 to November 2, 2026. In February 2023 we amended the terms of the interest rate swap to hedge the change in 1-month USD-SOFR. The purpose of this hedge is to manage the risk of changes in the monthly interest payments attributable to changes in the benchmark interest rate. Foreign Currency. The Company sells a portion of its products to overseas customers in their local currencies, primarily in 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 risk from an adverse rate movement as well as any benefit from a favorable rate movement. The Company may from time to time choose to hedge with options or a tandem of options known as a collar. These hedging techniques can limit or eliminate the downside risk but can allow for some or all of the benefit from a favorable rate movement to be realized. Unlike a forward contract, a premium is paid for an option; collars, which are a combination of a put and call option, may have a net premium but can be structured to be cash neutral. The Company will primarily hedge with forward contracts due to the relationship between the cash outlay and the level of risk. 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 product containing precious metal is fabricated and delivered to the customer, the metal content is purchased out of consignment based on the current market price. The price paid by the Company for the precious metal forms the basis for the price charged to the customer for the metal content in the product. 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 that changes in prices could have on the Company's margins and operating profit. The consigned metal is owned by precious metal consignors that charge the Company consignment fees based upon the value of the metal as it fluctuates while on consignment. Each precious metal consignor retains title to its consigned precious metal until it is purchased by the Company, and it is the Company’s typical practice to purchase metal out of consignment only after a product containing that metal has been purchased by one of our customers. In certain instances, a customer may want to fix 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 out of consignment 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 refined and 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 that 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 in these instances. The Company may from time to time elect to purchase precious metal and hold in inventory rather than on consignment due to potential consignment line limitations or other factors. These purchases are infrequent and, when made 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 paid when the metal is transferred back to the consignment line, thereby limiting any price exposure during the time when the metal was owned by the Company. 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. 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. The use of derivatives is governed by policies adopted by the Audit and Risk Committee of the Board of Directors. 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 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 December 31, 2022 and 2021: December 31, 2022 December 31, 2021 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 12,242 $ 791 $ 55,063 $ 2,132 Other liabilities and accrued items 17,061 1,048 9,425 128 These outstanding foreign currency derivatives were related to balance sheet hedges and intercompany loans. Other-net included foreign currency gains related to these derivatives of $0.2 million in 2022, compared to $1.2 million of foreign currency gains in 2021. 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 at December 31, 2022 and 2021: December 31, 2022 Fair Value (Thousands) Notional Prepaid and other current assets Other assets Other liabilities and accrued items Other long-term liabilities Foreign currency forward contracts - yen $ 2,985 $ 145 $ — $ 74 $ 26 Foreign currency forward contracts - euro 25,712 355 — 472 137 Precious metal swaps 8,758 118 — 411 — Interest rate swap 100,000 3,114 4,749 — — Total $ 137,455 $ 3,732 $ 4,749 $ 957 $ 163 December 31, 2021 Fair Value Notional Prepaid and other current assets Other assets Other liabilities and accrued items Other long-term liabilities Foreign currency forward contracts - yen $ 3,907 $ 131 $ 2 $ — $ — Foreign currency forward contracts - euro 28,412 1,102 — — 8 Precious metal swaps 6,256 116 — 24 Total $ 38,575 $ 1,349 $ 2 $ 24 $ 8 All of these contracts were designated and effective as cash flow hedges. No ineffectiveness expense was recorded in 2022, 2021, or 2020. The fair value of derivative contracts recorded in accumulated other comprehensive income (loss) totaled $7.4 million and $1.3 million as of December 31, 2022 and December 31, 2021, respectively. Deferred gains of $3.9 million at December 31, 2022 are expected to be reclassified to earnings within the next 18-month period. The following table summarizes the pre-tax 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 for years ended December 31, 2022 and 2021: (Thousands) 2022 2021 Hedging relationship Line item Foreign currency forward contracts Net sales $ (176) $ 123 Precious metal swaps Cost of sales (126) (193) Interest rate swap Interest expense - net (250) — Copper swaps Cost of sales — (3,049) Total $ (552) $ (3,119) The derivative activity in the table above is reflected in cash flows from operating activities.

Contingencies and Commitments

Contingencies and Commitments	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments Beryllium Cases The Company is a defendant from time to time in proceedings in various state and federal courts brought by plaintiffs alleging that they have contracted, or have been placed at risk of contracting, beryllium sensitization or Chronic Beryllium Disease (CBD) or related ailments as a result of exposure to beryllium. Plaintiffs in beryllium cases seek recovery under theories of negligence and various other legal theories and seek compensatory and punitive damages, in many cases of an unspecified sum. Spouses, if any, often claim loss of consortium. Employee cases, in which plaintiffs have a high burden of proof, have historically involved relatively small losses to the Company. Third-party plaintiffs (typically employees of customers) face a lower burden of proof than do the Company’s employees, but these cases have generally been covered by varying levels of insurance. Management has vigorously contested the beryllium cases brought against the Company. Non-employee beryllium cases are covered by insurance, subject to certain limitations. The insurance covers defense costs and indemnity payments (resulting from settlements or court verdicts) and is subject to various levels of deductibles. Defense and indemnity costs were less than or equal to the deductible in both 2022 and 2021. As of December 31, 2022, the Company was a defendant in one beryllium litigation cases, which was also outstanding as of December 31, 2021. The Company does not expect the resolution of this case to have a material impact on its consolidated financial statements. During 2022, one beryllium litigation case was resolved. Although it is not possible to predict the outcome of any pending litigation, the Company provides for costs related to litigation matters when a loss is probable, and the amount is reasonably estimable. Litigation is subject to many uncertainties, and it is possible that some of the actions could be decided unfavorably in amounts exceeding the Company’s reserves. An unfavorable outcome or settlement of a beryllium case or adverse media coverage could encourage the commencement of additional similar litigation. The Company is unable to estimate its potential exposure to unasserted claims. Based upon currently known facts and assuming collectability of insurance, the Company does not believe that resolution of the current or any potential future beryllium proceedings will have a material adverse effect on the financial condition or cash flow of the Company. However, the Company’s results of operations could be materially affected by unfavorable results in one or more cases. Environmental Proceedings The Company has an active program for environmental compliance that includes the identification of environmental projects and estimating the impact on the Company’s financial performance and available resources. Environmental expenditures that relate to current operations, such as wastewater treatment and control of airborne emissions, are either expensed or capitalized as appropriate. The Company records reserves for the probable costs for identified environmental remediation projects. The Company’s environmental engineers perform routine ongoing analyses of the remediation sites and will use outside consultants to assist in their analyses from time to time. Reserve accruals are based upon their analyses and are established based on the reasonably estimable loss or range of loss. The accruals are revised for the results of ongoing studies, changes in strategies, inflation, and for differences between actual and projected costs. The accruals may also be affected by rulings and negotiations with regulatory agencies. The timing of payments often lags the accrual, as environmental projects typically require a number of years to complete. The environmental reserves recorded represent the Company's best estimate of what is reasonably possible and cover existing or currently foreseen projects based upon current facts and circumstances. For sites where the investigative work and work plan development are substantially complete, the Company does not believe that it is reasonably possible that the cost to resolve environmental matters will be materially different than what has been accrued. For sites that are in the preliminary stages of investigation, the ultimate loss contingencies cannot be reasonably determined at the present time. As facts and circumstances change, the ultimate cost may be revised, and the recording of additional costs may be material in the period in which the additional costs are accrued. The Company does not believe that the ultimate liability for environmental matters will have a material impact on its financial condition or liquidity due to the nature of known environmental matters and the extended period of time over which environmental remediation normally takes place. The undiscounted reserve balance at the beginning of the year, the amounts expensed and paid, and the balance at December 31, 2022 and 2021 are as follows: (Thousands) 2022 2021 Reserve balance at beginning of year $ 4,770 $ 5,476 Expensed 180 185 Paid (480) (891) Reserve balance at end of year $ 4,470 $ 4,770 Ending balance recorded in: Other liabilities and accrued items $ 440 $ 539 Other long-term liabilities 4,030 4,231 The majority of expenses in both 2022 and 2021 was for various remediation projects at the Elmore, Ohio plant site. Asset Retirement Obligations The Company has asset retirement obligations related to its mine in Utah, as well as for certain leased facilities where the Company is contractually obligated to restore the facility back to its original condition at the end of the lease. The following represents a roll forward of the Company's asset retirement obligation liabilities for the years ended December 31, 2022 and 2021: (Thousands) 2022 2021 Asset retirement obligation at beginning of period $ 2,231 $ 1,765 Accretion expense 198 134 Change in liability — 332 Asset retirement obligation at end of period $ 2,429 $ 2,231 These obligations are reflected in Other long-term liabilities on the Consolidated Balance Sheet. Other The Company is subject to various legal or other proceedings that relate to the ordinary course of its business. The Company believes that the resolution of these proceedings, individually or in the aggregate, will not have a material adverse impact upon the Company’s consolidated financial statements. 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 that he and other similarly situated employees 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. Plaintiff filed a motion for conditional certification, which the Company opposed. On August 2, 2022, the Court conditionally certified a class of employees at the Company’s Elmore facility only and rejected certification of a class across the Company’s other facilities. In November 2022, the parties reached a settlement for an immaterial amount. The settlement is pending court approval. At December 31, 2022, the Company had outstanding letters of credit totaling $46.5 million related to workers’ compensation, consigned precious metal guarantees, environmental remediation issues, and other matters. The majority of the Company's outstanding letters of credit expire in 2023 and are expected to be renewed.

Valuation And Qualifying Accoun

Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Materion Corporation and Subsidiaries Schedule II—Valuation and Qualifying Accounts (Thousands) Valuation allowance on deferred tax assets: 2022 2021 2020 Balance at Beginning of Period $ 4,957 $ 14,134 $ 17,676 Additions: Charged to Costs and Expenses (1) 373 497 884 Charged to Other Accounts(3) — 1,019 — Deductions (2) $ (395) $ (10,693) $ (4,426) Balance at End of Period $ 4,935 $ 4,957 $ 14,134 (1) Increase in valuation allowance is recorded as a component of the provision for income taxes. (2) 2021 includes a $6.9 million valuation allowance reversal in the fourth quarter of 2021 and a $3.8 million balance sheet impact to deferred taxes. (3) Change in foreign currency exchange rates and acquired reserves. See acquisition footnote B for acquisition details.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization	Organization: Materion Corporation (the Company) is a holding company with subsidiaries that have operations in the United States, Europe, and Asia. These operations manufacture advanced engineered materials used in a variety of end markets, including semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center. The Company has four reportable segments: Performance Materials, Electronic Materials, Precision Optics, and Other. Other includes unallocated corporate costs. Refer to Note C for additional segment details. The Company distributes its products through a combination of company-owned facilities and independent distributors and agents.
Business Combinations	Business Combinations: The Company records assets acquired and liabilities assumed at the date of acquisition at their respective fair values. 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. See Note B for further discussion of the acquisition of HCS-Electronic Materials which was completed on November 1, 2021.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.
Consolidation	Consolidation: The Consolidated Financial Statements include the accounts of Materion Corporation and its subsidiaries. All of the Company’s subsidiaries were wholly owned as of December 31, 2022. Intercompany accounts and transactions are eliminated in consolidation.
Cash Equivalents	Cash Equivalents:  All highly liquid investments with a maturity of three months or less when purchased are considered to be cash equivalents.
Accounts Receivable	Accounts Receivable: An allowance for doubtful accounts is maintained for the expected losses resulting from the inability of customers to pay amounts due. The Company considers the current market conditions and credit losses related to the Company's trade receivables based on the macroeconomic environment, geographic considerations, and other expected market trends. Additionally, the allowance is based upon identified delinquent accounts, customer payment patterns, and other analyses of historical data and trends. Accounts receivable were net of an allowance for credit losses of $0.6 million and $0.5 million at December 31, 2022 and December 31, 2021, respectively. The change in the allowance for credit losses includes expense and net write-offs, neither of which were material. The Company extends credit to customers based upon their financial condition, and collateral is not generally required.
Inventories	Inventories: Inventories are stated at net realizable value. The associated inventory reserve was $0.4 million and $0.3 million at December 31, 2022 and 2021, respectively. All of the Company's inventories, except for its bertrandite ore mine which values inventory using a weighted average cost method, including raw materials, manufacturing supplies inventory as well as international (outside the U.S.) inventories, have been valued using the first-in, first-out (FIFO) method as of December 31, 2022 and 2021.
Property, Plant and Equipment	Property, Plant, and Equipment: Property, plant, and equipment is stated on the basis of cost. Depreciation is computed principally by the straight-line method, except certain assets for which depreciation may be computed by the units-of-production method. The depreciable lives that are used in computing the annual provision for depreciation by class of asset are primarily as follows: Years Land improvements 10 to 20 Buildings 20 to 40 Leasehold improvements Life of lease Machinery and equipment 3 to 15 Furniture and fixtures 4 to 10 Automobiles and trucks 3 to 8 Research equipment 3 to 10 Computer hardware 3 to 10 Computer software 3 to 10 An asset acquired under a finance lease will be recorded at the lesser of the present value of the projected lease payments or the fair value of the asset and will be depreciated in accordance with the above schedule. Leasehold improvements will be depreciated over the life of the improvement if it is shorter than the life of the lease. Repair and maintenance costs are expensed as incurred.
Mineral Resources and Mine Development	Mineral Resources and Mine Development: Property acquisition costs are capitalized as mineral resources on the balance sheet and are depleted using the units-of-production method based upon total estimated recoverable proven reserves of the beryllium-bearing bertrandite ore body. The Company uses beryllium pounds as the unit of accounting measure, and depletion expense is recorded on a pro-rata basis based upon the amount of beryllium pounds extracted as a percentage of total estimated beryllium pounds contained in the ore body. Mine development costs at our open pit surface mines include drilling, infrastructure, other related costs to delineate an ore body and the removal of overburden to initially expose an ore body. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as exploration expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves. In 2020, the Company expanded a mine to further develop an ore body. Since the pre-production phase ended when ore was first extracted from this mine, the Company recognized approximately $12.9 million of mine development costs in 2020 as a component of cost of sales. This expansion is expected to benefit future periods. The cost of removing overburden and waste materials to access the ore body at an open-pit mine prior to the production phase is capitalized during the development of an open-pit mine and are capitalized at each pit. These costs are amortized as the ore is extracted using the units-of-production method based upon total estimated recoverable proven reserves for the individual pit. The Company uses beryllium pounds as the unit of accounting measure for recording amortization. To the extent that the aforementioned costs benefit an entire ore body, the costs are amortized over the estimated useful life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block area.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill is reviewed annually for impairment or more frequently if impairment indicators arise. The Company conducts its annual goodwill impairment assessment as of the first day of the fourth quarter, or more frequently under certain circumstances. For the purpose of the goodwill impairment assessment, the Company has the option to perform a qualitative assessment (commonly referred to as "step zero") to determine whether further quantitative analysis of impairment of goodwill is necessary or a quantitative assessment ("step one") where the Company estimates the fair value of each reporting unit using a discounted cash flow method (income approach). Goodwill is assigned to the reporting unit, which is the operating segment level or one level below the operating segment. Intangible assets with finite lives are amortized using the straight-line method or effective interest method, as applicable, over the periods estimated to be benefited, which is generally 20 years or less. Finite-lived intangible assets are also reviewed for impairment if facts and circumstances warrant.
Long-Lived Asset Impairment	Long-Lived Asset Impairment: Management performs impairment tests of long-lived assets, including property and equipment, whenever an event occurs or circumstances change that indicate that the carrying value may not be recoverable or the useful life
Derivatives	Derivatives: The Company recognizes all derivatives 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, a component of shareholders’ equity, until the hedged item is recognized in earnings. If the derivative is designated as a fair value hedge, changes in fair value are offset against the change in the fair value of the hedged asset, liability, or commitment through earnings. The ineffective portion of a derivative’s change in fair value, if any, is recognized in earnings immediately. If a derivative is not a hedge, changes in its fair value are adjusted through the income statement.
Asset Retirement Obligation	Asset Retirement Obligation:  The Company records a liability to recognize the legal obligation to remove an asset at the time the asset is acquired or when the legal liability arises. The liability is recorded for the present value of the ultimate obligation by discounting the estimated future cash flows using a credit-adjusted risk-free interest rate. The liability is accreted over time, with the accretion charged to expense. An asset equal to the fair value of the liability is recorded concurrent with the liability and depreciated over the life of the underlying asset.
Unearned Income	Unearned Income: Expenditures for capital equipment to be reimbursed under government contracts are recorded in property, plant, and equipment, while the reimbursements for those expenditures are recorded in unearned income, a liability on the balance sheet. When the assets subject to reimbursement are placed in service, the total cost is depreciated over the useful lives, and the unearned income liability is reduced and credited to cost of sales on the Consolidated Statements of Income ratably with the annual depreciation expense. Also included in Unearned Income as of December 31, 2022 and 2021, are $85.9 million and $72.6 million, respectively, of customer prepayments. See Note K for additional discussion.
Advertising Costs	Advertising Costs: The Company expenses all advertising costs as incurred. Advertising costs were $0.3 million in 2022, 2021, and 2020.
Stock-based Compensation	Stock-based Compensation: The Company recognizes stock-based compensation expense based on the grant date fair value of the award over the period during which an employee is required to provide service in exchange for the award. Stock-based awards include performance-based restricted stock units (PRSUs), restricted stock units (RSUs), and stock appreciation rights (SARs). The fair value of PRSUs and RSUs is primarily based on the closing market price of a share of the Company's common stock on the date of grant, modified as appropriate to take into account the features of such grants. SARs are granted with an exercise price equal to the closing price of the Company's common shares on the date of grant. The fair value of SARs is determined using a Black-Scholes option-pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate, and the expected dividend yield. The portion of the PRSU awards that are valued based on the Company's total shareholder return as compared to peers is valued using Monte Carlo simulations, which incorporates assumptions regarding the expected volatility, the expected correlation, and the risk-free interest rate. See Note Q for additional information about stock-based compensation.
Capitalized Interest	Capitalized Interest: Interest expense associated with active capital asset construction and mine development projects is capitalized and amortized over the future useful lives of the related assets.
Income Taxes	Income Taxes: The Company uses the liability method in measuring the provision for income taxes and recognizing deferred tax assets and liabilities on the balance sheet. The Company will record a valuation allowance to reduce the deferred tax assets to the amount that is more likely than not to be realized, as warranted by current facts and circumstances. The Company applies a more-likely-than-not recognition threshold for all tax uncertainties and will record a liability for those tax benefits that have a less than 50% likelihood of being sustained upon examination by the taxing authorities.
Net Income Per Share	Net Income Per Share: Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of all dilutive common stock equivalents as appropriate using the treasury stock method.
New Pronouncements Adopted	New Pronouncements Adopted: In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . This guidance requires companies to apply ASC 606 on the acquisition date to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. This is an exception to the recognition and measurement principle in ASC 805 which generally requires an acquirer to recognize and measure the assets it acquires and the liabilities it assumes at fair value on the acquisition date. For public entities, the guidance is effective for fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company has early adopted this guidance and has applied it to the accounting for contract assets and contract liabilities acquired as part of the HCS-Electronic Materials (as defined in Note B) acquisition. 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 to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The guidance is available immediately and the Company has applied this guidance in accounting for the interest rate swap as discussed in Note R. Any additional reference rate reform impacts will be accounted for in accordance with ASU 2020-04.
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. Shipping and Handling Costs : The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill its promise to transfer the associated products. Accordingly, customer payments for shipping and handling costs are recorded as a component of net sales, and related costs are recorded as a component of cost of sales. Taxes Collected from Customers and Remitted to Governmental Authorities : Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Product Warranty : Substantially all of the Company’s customer contracts contain a warranty that provides assurance that the purchased product will function as expected and in accordance with certain specifications. The warranty is intended to safeguard the customer against existing defects and does not provide any incremental service to the customer. Transaction Price Allocated to Future Performance Obligations: ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied at December 31, 2022. 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 December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was approximate l y $63.9 million. Contract Costs : The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs primarily relate to sales commissions, which are included in selling, general, and administrative expenses. Contract Balances : The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) December 31, 2022 December 31, 2021 $ change % change Accounts receivable, trade $ 215,726 $ 213,584 $ 2,142 1 % Unbilled receivables 10,765 7,961 2,804 35 % Unearned revenue 15,496 7,770 7,726 99 % 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 2022. Unbilled receivables represent expenditures on contracts, plus applicable profit margin, not yet billed. Unbilled receivables are normally billed and collected within one year. Billings made on contracts are recorded as a reduction of unbilled receivables. Unearned revenue is recorded for consideration received from customers in advance of satisfaction of the related performance obligations. The Company recognized approximately $7.1 million of the December 31, 2021 unearned amounts as revenue during 2022. The Company recognized approximately $6.8 million of the December 31, 2020 unearned amounts as revenue during 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.
Reclassifications	Reclassifications Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation. T hese reclassifications had no impact on the Company’s financial position, results of operations, or cash flows.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of depreciable lives by class of assets	The depreciable lives that are used in computing the annual provision for depreciation by class of asset are primarily as follows: Years Land improvements 10 to 20 Buildings 20 to 40 Leasehold improvements Life of lease Machinery and equipment 3 to 15 Furniture and fixtures 4 to 10 Automobiles and trucks 3 to 8 Research equipment 3 to 10 Computer hardware 3 to 10 Computer software 3 to 10

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	(Thousands) Initial Allocation of Consideration Measurement Period Adjustments Final Allocation Assets: Cash and cash equivalents $ 3,685 $ — $ 3,685 Accounts receivable 28,352 35 28,387 Inventories 70,681 — 70,681 Prepaid and other current assets 660 (450) 210 Property, plant, and equipment 44,681 355 45,036 Operating lease, right-of-use assets 6,120 — 6,120 Intangible assets 107,800 — 107,800 Other long-term assets 4,528 — 4,528 Goodwill 178,181 3,144 181,325 Total assets acquired $ 444,688 $ 3,084 $ 447,772 Liabilities: Accounts payable $ 12,139 $ (240) $ 11,899 Salaries and wages 2,516 $ 625 3,141 Other liabilities and accrued items 28 $ — 28 Income taxes 2,183 $ (457) 1,726 Other long-term liabilities 5,543 $ 215 5,758 Operating lease liabilities 6,042 $ — 6,042 Deferred income taxes 20,300 $ (30) 20,270 Total liabilities assumed $ 48,751 $ 113 $ 48,864 Net assets acquired $ 395,937 $ 2,971 $ 398,908
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table reports the intangible assets by asset category as of the closing date: (Thousands) Value at Acquisition Useful Life Customer relationships $ 50,200 13 years Technology 35,300 13 years Trade name 22,300 15 years Total $ 107,800
Pro Forma Information	Had the HCS-Electronic Materials acquisition occurred as of the beginning of fiscal 2020, the Company's sales and income (loss) before taxes would have been as follows: (Unaudited) Year Ended December 31, 2021 2020 Net Sales $ 1,659,620 $ 1,308,300 Profit income (loss) before taxes $ 91,551 $ (17,761)

Segment Reporting and Geograp_2

Segment Reporting and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Reportable Segments	The below table presents financial information for each segment and a reconciliation of EBITDA to Net Income (the most directly comparable GAAP financial measure) for 2022 and 2021: (Thousands) 2022 2021 Net sales: Performance Materials (1) $ 671,525 $ 511,874 Electronic Materials (1) $ 971,902 866,816 Precision Optics 113,682 131,954 Other — — Net sales 1,757,109 1,510,644 Segment EBITDA: Performance Materials $ 125,227 89,028 Electronic Materials 67,806 $ 44,852 Precision Optics 13,753 25,854 Other (28,345) (33,371) Total Segment EBITDA 178,441 126,363 Income tax expense 17,110 4,851 Interest expense - net 21,905 4,901 Depreciation, depletion and amortization 53,436 44,137 Net income $ 85,990 $ 72,474 (1) Excludes inter-segment sales of $0.7 million for Performance Materials and $14.0 million for Electronic Materials for 2022 and $0.2 million for Performance Materials and $13.9 million for Electronic Materials for 2021. Inter-segment sales are eliminated in consolidation.
Sales and Long-Lived Assets Attributed to Countries Based Upon the Location of Customers	Other geographic information includes the following: (Thousands) 2022 2021 2020 Net sales United States $ 867,053 $ 794,862 $ 641,727 Asia 519,395 426,303 329,968 Europe 355,691 270,213 189,281 All other 14,970 19,266 15,298 Total $ 1,757,109 $ 1,510,644 $ 1,176,274 Property, plant, and equipment, net by country deployed United States $ 372,779 $ 327,969 $ 223,340 All other 75,986 81,006 86,346 Total $ 448,765 $ 408,975 $ 309,686
Disaggregation of Revenue by Segment	The following table disaggregates revenue for each segment by end market for 2022 and 2021: (Thousands) Performance Materials Electronic Materials Precision Optics Other Total 2022 End Market Semiconductor $ 8,666 $ 784,517 $ 5,107 $ — $ 798,290 Industrial 168,012 47,407 31,948 — 247,367 Aerospace and Defense 110,884 5,882 16,988 — 133,754 Consumer Electronics 49,859 1,144 22,666 — 73,669 Automotive 93,581 7,590 9,922 — 111,093 Energy 50,021 98,844 — — 148,865 Telecom and Data Center 65,230 149 — — 65,379 Other 125,272 26,369 27,051 — 178,692 Total $ 671,525 $ 971,902 $ 113,682 $ — $ 1,757,109 2021 End Market Semiconductor $ 8,481 $ 683,085 $ 2,572 $ — $ 694,138 Industrial 123,337 45,025 32,779 — 201,141 Aerospace and Defense 86,046 5,509 23,622 — 115,177 Consumer Electronics 41,694 1,184 32,485 — 75,363 Automotive 105,466 7,321 8,356 — 121,143 Energy 23,913 99,330 — — 123,243 Telecom and Data Center 53,510 173 — — 53,683 Other 69,427 25,189 32,140 — 126,756 Total $ 511,874 $ 866,816 $ 131,954 $ — $ 1,510,644

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The timing of revenue recognition, billings, and cash collections resulted in the following contract assets and contract liabilities: (Thousands) December 31, 2022 December 31, 2021 $ change % change Accounts receivable, trade $ 215,726 $ 213,584 $ 2,142 1 % Unbilled receivables 10,765 7,961 2,804 35 % Unearned revenue 15,496 7,770 7,726 99 %

Other-net (Tables)

Other-net (Tables)	12 Months Ended
	Dec. 31, 2022
Other-net [Abstract]
Summary of other-net expense	Other-net is summarized for 2022, 2021, and 2020 as follows: (Income) Expense (Thousands) 2022 2021 2020 Metal consignment fees $ 12,212 $ 9,305 $ 8,587 Amortization of intangible assets 12,400 5,973 2,377 Foreign currency loss (gain) (679) 1,573 (2,569) Net (gain) loss on disposal of fixed assets 14 (282) 466 Other items 290 168 (398) Total other-net $ 24,237 $ 16,737 $ 8,463

Interest Expense-net (Tables)

Interest Expense-net (Tables)	12 Months Ended
	Dec. 31, 2022
Interest [Abstract]
Summary of interest incurred, capitalized and paid	The following chart summarizes the interest incurred, capitalized, and paid in 2022, 2021, and 2020: (Thousands) 2022 2021 2020 Interest incurred, net $ 23,014 $ 5,277 $ 3,889 Less: Capitalized interest 1,109 376 10 Total net expense $ 21,905 $ 4,901 $ 3,879 Interest paid $ 21,190 $ 3,652 $ 3,442

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expenses benefit	Income (loss) before income taxes and income tax expense (benefit) are comprised of the following: (Thousands) 2022 2021 2020 Income (loss) before income taxes: Domestic $ 90,403 $ 54,684 $ (1,153) Foreign 12,697 22,641 9,428 Total income (loss) before income taxes $ 103,100 $ 77,325 $ 8,275 Income tax expense: Current income tax expense (benefit): Domestic $ 12,571 $ 14,603 $ 812 Foreign 2,806 3,205 1,851 Total current $ 15,377 $ 17,808 $ 2,663 Deferred income tax (benefit) expense: Domestic $ 588 $ (7,953) $ (5,641) Foreign 1,145 (5,004) (4,209) Total deferred $ 1,733 $ (12,957) $ (9,850) Total income tax expense (benefit) $ 17,110 $ 4,851 $ (7,187)
Effective income tax rate reconciliation	A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows: 2022 2021 2020 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax effect 1.7 (0.3) (10.0) Effect of excess of percentage depletion over cost depletion (3.1) (3.4) (43.0) Foreign derived intangible income deduction (1.7) (2.3) (1.8) Non-deductible goodwill impairment — — 7.1 Research and development tax credit (2.0) (1.2) (16.4) Impact of foreign operations 0.6 0.3 (5.3) Non-deductible transaction costs — 1.6 6.9 Interest from tax authorities — — (3.8) Adjustment to unrecognized tax benefits (0.5) (1.9) 1.8 Equity compensation (0.9) (0.5) (5.3) Non-deductible officers' compensation 1.2 1.4 6.8 Valuation allowance 0.6 (8.5) (45.5) Other items (0.3) 0.1 0.6 Effective tax rate 16.6 % 6.3 % (86.9) %
Deferred tax assets and liabilities	Deferred tax assets and (liabilities) recorded in the Consolidated Balance Sheets consist of the following: December 31, (Thousands) 2022 2021 Asset (liability) Post-employment benefits other than pensions $ 1,230 $ 1,714 Other reserves 1,831 1,901 Deferred compensation 3,850 3,263 Environmental reserves 1,321 1,358 Inventory 6,118 — Research expenditures 7,069 — Revenue recognition 7,878 5,027 Lease liabilities 12,651 11,639 Interest expense carryforward 12,470 14,163 Pensions — 1,393 Accrued compensation expense 5,477 6,410 Net operating loss and credit carryforwards 9,915 11,423 Subtotal 69,810 58,291 Valuation allowance (4,935) (4,957) Total deferred tax assets 64,875 53,334 Depreciation (42,481) (24,484) Lease assets (12,078) (11,184) Inventory — (2,329) Amortization (32,925) (35,542) Mine development — (917) Pensions (400) — Unrealized gains (1,940) (663) Total deferred tax liabilities (89,824) (75,119) Net deferred tax liabilities $ (24,949) $ (21,785)
Reconciliation of unrecognized tax benefits	A reconciliation of the Company’s unrecognized tax benefits for the year-to-date periods ended December 31, 2022 and 2021 is as follows: (Thousands) 2022 2021 Balance at January 1 $ 1,142 $ 2,360 Additions to tax provisions related to the current year — 431 Additions to tax positions related to prior years — — Reduction to tax positions related to prior years (8) (45) Lapses on statutes of limitations (482) (1,604) Balance at December 31 $ 652 $ 1,142

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Computation of basic and diluted net earnings per share	The following table sets forth the computation of basic and diluted EPS: (Thousands except per share amounts) 2022 2021 2020 Numerator for basic and diluted EPS: Net income $ 85,990 $ 72,474 $ 15,462 Denominator: Denominator for basic EPS: Weighted-average shares outstanding 20,511 20,422 20,338 Effect of dilutive securities: Stock appreciation rights 81 78 39 Restricted stock units 102 124 102 Performance-based restricted stock units 66 65 124 Diluted potential common shares 249 267 265 Denominator for diluted EPS: Adjusted weighted-average shares outstanding 20,760 20,689 20,603 Basic EPS $ 4.19 $ 3.55 $ 0.76 Diluted EPS $ 4.14 $ 3.50 $ 0.75

Inventories, net (Tables)

Inventories, net (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories in the Consolidated Balance Sheets are summarized as follows: December 31, (Thousands) 2022 2021 Raw materials and supplies $ 113,694 $ 93,518 Work in process 249,105 221,638 Finished goods 60,281 45,959 Inventories, net 423,080 361,115

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant, and equipment on the Consolidated Balance Sheets is summarized as follows: December 31, (Thousands) 2022 2021 Land $ 26,579 $ 26,627 Buildings 200,223 173,907 Machinery and equipment 770,628 687,502 Software 44,886 45,445 Construction in progress 100,188 130,838 Allowances for depreciation (720,455) (690,166) Subtotal 422,049 374,153 Finance leases 31,662 32,865 Allowances for depreciation (7,395) (6,193) Subtotal 24,267 26,672 Mineral resources 4,980 4,980 Mine development 30,059 30,059 Allowances for amortization and depletion (32,590) (26,889) Subtotal 2,449 8,150 Property, plant, and equipment — net $ 448,765 $ 408,975

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease, Cost	The components of operating and finance lease cost for 2022 and 2021 were as follows: (Thousands) 2022 2021 Components of lease expense Operating lease cost $ 13,381 $ 11,825 Finance lease cost Amortization of right-of-use assets 1,202 1,989 Interest on lease liabilities 819 1,009 Total lease cost $ 15,402 $ 14,823
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to the Company's operating and finance leases as of December 31, 2022 and 2021 is as follows: (Thousands, except lease term and discount rate) 2022 2021 Supplemental balance sheet information Operating Leases Operating lease right-of-use assets $ 64,249 $ 63,096 Other liabilities and accrued items 8,401 7,906 Operating lease liabilities 59,055 57,099 Finance Leases Property, plant, and equipment $ 31,662 $ 32,865 Allowances for depreciation, depletion, and amortization (7,395) (6,193) Finance lease assets, net $ 24,267 $ 26,672 Other liabilities and accrued items $ 1,485 $ 2,800 Finance lease liabilities 13,876 16,327 Total principal payable on finance leases $ 15,361 $ 19,127 Weighted Average Remaining Lease Term Operating leases 11.78 11.47 Finance leases 17.98 16.96 Weighted Average Discount Rate Operating leases 6.08% 6.19% Finance leases 5.11% 4.99%
Future estimated minimum payments under capital leases and non-cancelable operating leases	Future maturities of the Company's lease liabilities as of December 31, 2022 are as follows: Finance Operating (Thousands) Leases Leases 2023 $ 2,216 $ 12,338 2024 1,385 9,642 2025 1,230 8,743 2026 1,204 7,355 2027 1,204 5,913 2028 and thereafter 16,579 51,574 Total lease payments 23,818 95,565 Less amount of lease payment representing interest 8,457 28,109 Total present value of lease payments $ 15,361 $ 67,456
Schedule Of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow information related to leases was as follows: (Thousands) 2022 2021 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,653 $ 17,580 Operating cash flows from finance leases 818 1,009 Financing cash flows from finance leases 2,736 2,819 Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,967 9,191 Finance leases — —

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	The cost and accumulated amortization of intangible assets subject to amortization as of December 31, 2022 and 2021, is as follows: 2022 2021 (Thousands) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 110,347 $ (28,950) $ 81,397 $ 111,220 $ (22,777) $ 88,443 Technology 44,886 (10,420) 34,466 45,014 (6,917) 38,097 Licenses and other 34,300 (10,562) 23,738 34,468 (7,879) 26,589 Total $ 189,533 $ (49,932) $ 139,601 $ 190,702 $ (37,573) $ 153,129
Finite-lived Intangible Assets Amortization Expense	Estimated amortization e xpense for each of the five succeeding years is as follows: Amortization (Thousands) Expense 2023 12,473 2024 12,473 2025 11,851 2026 10,626 2027 10,471
Schedule of Goodwill	A summary of changes in goodwill by reportable segment is as follows: (Thousands) Performance Materials Electronic Materials Precision Optics Total Balance at December 31, 2020 $ 1,899 $ 50,527 $ 92,490 $ 144,916 Acquisition 23,904 154,277 — 178,181 Impairment charge — — — — Other — (284) (4,193) (4,477) Balance at December 31, 2021 $ 25,803 $ 204,520 $ 88,297 $ 318,620 Acquisition — — Impairment charge — — — — Other 354 2,150 (1,626) 878 Balance at December 31, 2022 $ 26,157 206,670 $ 86,671 $ 319,498

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of long-term debt	Long-term debt in the Consolidated Balance Sheets is summarized as follows: December 31, (Thousands) 2022 2021 Borrowings under Credit Agreement with average interest rate of 6.08% at December 31, 2022 and 2.12% at December 31, 2021 $ 143,250 $ 152,296 Borrowings under the Term Loan Facility 285,000 300,000 Foreign debt 7,541 2,252 Total long-term debt outstanding 435,791 454,548 Current portion of long-term debt (21,105) (15,359) Gross long-term debt $ 414,686 $ 439,189 Unamortized deferred financing fees (3,810) (4,801) Long-term debt $ 410,876 $ 434,388
Maturities on long-term debt instruments	Maturities on long-term debt instruments as of December 31, 2022 are as follows: (Thousands) 2023 21,105 2024 30,337 2025 30,337 2026 353,543 2027 204 2028 and thereafter 265 Total $ 435,791

Pensions and Other Post-Emplo_2

Pensions and Other Post-Employment Benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Obligation and funded status of the company's pension and other post-retirement benefit plans	The obligation and funded status of the Company’s pension and other post-employment benefit plans are shown below. The Pension Benefits column aggregates defined benefit pension plans in the U.S., Germany, Liechtenstein, England, and the U.S. supplemental retirement plans. The Other Benefits column includes the domestic retiree medical and life insurance plan. Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Change in benefit obligation Benefit obligation at beginning of year $ 235,779 $ 246,107 $ 7,514 $ 8,190 Service cost 1,231 1,722 78 80 Interest cost 4,874 4,186 156 116 Net pension curtailments and settlements (3,104) — — — Acquisition — — — — Plan amendments — — — — Actuarial (gain) loss (61,819) (8,448) (1,800) (112) Benefit payments (5,821) (4,927) (443) (742) Foreign currency exchange rate changes and other (3,108) (2,861) — (18) Benefit obligation at end of year 168,032 235,779 5,505 7,514 Change in plan assets Fair value of plan assets at beginning of year 227,340 226,176 — — Plan settlements (3,104) — — — Acquisition — — — — Actual return on plan assets (53,283) 5,769 — — Employer contributions 831 955 — — Employee contributions 786 878 — — Benefit payments from fund (6,175) (5,399) — — Foreign currency exchange rate changes and other (1,799) (1,039) — — Fair value of plan assets at end of year 164,596 227,340 — — Funded status at end of year $ (3,436) $ (8,439) $ (5,505) $ (7,514) Amounts recognized in the Consolidated Other assets $ 11,761 $ 18,566 $ — $ — Other liabilities and accrued items (536) (1,662) (754) (754) Retirement and post-employment benefits (14,661) (25,343) (4,751) (6,760) Net amount recognized $ (3,436) $ (8,439) $ (5,505) $ (7,514)
Schedule of amounts recognized in other comprehensive income (loss)	The following amounts are included within accumulated other comprehensive loss at December 31, 2022 : Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Amounts recognized in other comprehensive income (before tax) consist of: Net actuarial loss (gain) $ 43,039 $ 42,440 $ (5,573) $ (4,044) Net prior service cost (credit) (617) (695) (556) (2,054) Net transition obligation/(asset) — 637 — — Net amount recognized $ 42,422 $ 42,382 $ (6,129) $ (6,098)
Schedule of accumulated and projected benefit obligations	The following table provides information regarding the accumulated benefit obligation: Pension Benefits Other Benefits (Thousands) 2022 2021 2022 2021 Additional information Accumulated benefit obligation for all defined benefit pension plans $ 167,366 $ 233,717 $ — $ — For defined benefit pension plans with benefit obligations in excess of plan assets: Aggregate benefit obligation 18,490 58,052 — — Aggregate fair value of plan assets 3,279 33,148 — — For defined benefit pension plans with accumulated benefit obligations in excess of plan assets: Aggregate accumulated benefit obligation 17,833 56,043 — — Aggregate fair value of plan assets 3,279 33,148 — —
Schedule of net benefit costs	The following table summarizes components of net benefit cost: Pension Benefits Other Benefits (Thousands) 2022 2021 2020 2022 2021 2020 Net benefit cost Service cost $ 1,231 $ 1,722 $ 1,403 $ 78 $ 80 $ 59 Interest cost 4,874 4,186 5,234 156 116 213 Expected return on plan assets (9,570) (9,881) (9,333) — — — Amortization of prior service credit (78) (82) — (1,497) (1,497) (1,497) Recognized net actuarial loss (gain) 1,701 2,344 1,678 (272) (275) (332) Net periodic benefit (credit) cost (1,842) (1,711) (1,018) (1,535) (1,576) (1,557) Net pension curtailments and settlements (551) — 94 — — — Total net benefit (credit) cost $ (2,393) $ (1,711) $ (924) $ (1,535) $ (1,576) $ (1,557)
Summary of cumulative net gain (loss) by component, net of tax, within other comprehensive income	The following table summarizes amounts recognized in other comprehensive income (OCI): Pension Benefits Other Benefits (Thousands) 2022 2021 2020 2022 2021 2020 Change in other comprehensive income OCI at beginning of year $ 42,382 $ 48,673 $ 48,073 $ (6,098) $ (7,525) $ (9,578) Increase (decrease) in OCI: Recognized during year — prior service cost (credit) 78 82 — 1,497 1,497 1,497 Recognized during year — net actuarial (losses) gains (1,701) (2,344) (1,678) 272 275 332 Occurring during year — prior service cost — — (799) — — — Occurring during year — net actuarial losses (gains) 1,112 (4,553) 3,146 (1,800) (345) 224 Other adjustments 551 — (94) — — — Foreign currency exchange rate changes 524 25 — — — OCI at end of year $ 42,422 $ 42,382 $ 48,673 $ (6,129) $ (6,098) $ (7,525) Changes in the components of accumulated other comprehensive (loss) income, including amounts reclassified out, for 2022, 2021, and 2020, and the balances in accumulated other comprehensive (loss) income as of December 31, 2022, 2021, and 2020 are as follows: Gains and Losses Pension and Post- Employment Benefits Foreign Currency Translation (Thousands) Foreign Currency Interest Rate Precious Metals Copper Total Total Balance at December 31, 2019 $ 1,324 $ — $ (452) $ 25 $ 897 $ (41,346) $ (5,013) $ (45,462) Other comprehensive income (loss) before reclassifications (1,268) — (1,675) 218 $ (2,725) (2,721) 9,030 3,584 Amounts reclassified from accumulated other comprehensive income 222 — 2,041 354 2,617 (57) — 2,560 Other comprehensive income (loss) before tax (1,046) — 366 572 (108) (2,778) 9,030 6,144 Deferred taxes on current period activity (241) — 84 129 (28) (651) — (679) Other comprehensive income (loss) after tax (805) — 282 443 (80) (2,127) 9,030 6,823 Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Other comprehensive income (loss) before reclassifications 2,252 — 508 2,444 5,204 4,428 (6,904) 2,728 Amounts reclassified from accumulated other comprehensive income 123 — (193) (3,049) (3,119) 437 — (2,682) Other comprehensive income (loss) before tax 2,375 — 315 (605) 2,085 4,865 (6,904) 46 Deferred taxes on current period activity 546 — 73 (137) 482 1,094 — 1,576 Other comprehensive income (loss) after tax 1,829 — 242 (468) 1,603 3,771 (6,904) (1,530) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Other comprehensive income (loss) before reclassifications (1,260) 8,113 (259) — 6,594 (394) (5,869) 331 Amounts reclassified from accumulated other comprehensive income (176) (250) (126) — (552) 386 — (166) Other comprehensive income (loss) before tax (1,436) 7,863 (385) — 6,042 (8) (5,869) 165 Deferred taxes on current period activity (331) 1,808 (90) — 1,387 518 — 1,905 Other comprehensive income (loss) after tax (1,105) 6,055 (295) — 4,655 (526) (5,869) (1,740) Balance at December 31, 2022 $ 1,243 $ 6,055 $ (223) $ — $ 7,075 $ (40,228) $ (8,756) $ (41,909)
Summary of key valuation assumptions	In determining the projected benefit obligation and the net benefit cost, as of a December 31 measurement date, the Company used the following assumptions: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Assumptions used to determine benefit obligations at fiscal year end Discount rate 2.16% - 5.54% 0.22% - 3.02% 0.03% - 2.76% 5.52 % 2.90 % 2.45 % Rate of compensation increase 1.75% - 3.00% 1.50% - 3.00% 1.50% - 3.00% 3.50 % 3.00 % 3.00 % Assumptions used to determine net cost for the fiscal year Discount rate 0.22% - 3.02% 0.03% - 2.76% 0.21% - 3.48% 2.90 % 2.45 % 3.20 % Expected long-term return on plan assets 1.20% - 5.25% 1.20% - 5.75% 1.80% - 6.00% N/A N/A N/A Rate of compensation increase 1.50% - 3.00% 1.50% - 3.00% 1.50% - 3.00% 3.00 % 3.00 % 3.00 %
Assumed health care trend rates	Assumed health care trend rates at fiscal year end 2022 2021 Health care trend rate assumed for next year 6.00% 6.00% Rate that the trend rate gradually declines to (ultimate trend rate) 5.00% 5.00% Year that the rate reaches the ultimate trend rate 2032 2028
Summary of fair values of the company's defined benefit pension plan assets	The following tables present the fair values of the Company’s defined benefit pension plan assets as of December 31, 2022 and 2021 by asset category. The Company has some investments that are valued using net asset value (NAV) as the practical expedient and have not been classified in the fair value hierarchy. Refer to Note R for definitions of the fair value hierarchy. December 31, 2022 (Thousands) Total Level 1 Level 2 Level 3 Cash $ 1,058 $ 1,058 $ — $ — Equity securities (a) 37,083 37,083 — — Fixed-income securities (b) 13,314 13,314 — — Other types of investments: Real estate fund (c) 3,115 3,115 — — Total 54,570 54,570 — — Investments measured at NAV: (d) Pooled investment fund (e) 103,142 Multi-strategy hedge funds (f) 6,812 Private equity funds 72 Total assets at fair value $ 164,596 December 31, 2021 (Thousands) Total Level 1 Level 2 Level 3 Cash $ 4,777 $ 4,777 $ — $ — Equity securities (a) 49,618 49,618 — — Fixed-income securities (b) 14,344 14,344 — — Other types of investments: Real estate fund (c) 3,258 3,258 — — Total 71,997 71,997 — — Investments measured at NAV: (d) Pooled investment fund (e) 147,832 Multi-strategy hedge funds (f) 7,438 Private equity funds 73 Total assets at fair value $ 227,340 (a) Equity securities are primarily comprised of corporate stock and mutual funds directly held by the plans. Equity securities are valued using the closing price reported on the active market on which the individual securities are traded. (b) Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded. (c) Includes a mutual fund that typically invests at least 80% of its assets in equity and debt securities of companies in the real estate industry or related industries or in companies which own significant real estate assets at the time of investment. (d) Certain assets that are measured at fair value using the NAV practical expedient have not been classified in the fair value hierarchy. (e) Pooled investment fund consists of various investment types including equity investments covering a range of geographies and including investment managers that hold long and short positions, property investments, and other multi-strategy funds which combine a range of different credit, equity, and macro-orientated ideas and dynamically allocate funds across asset classes. (f) Includes a fund that invests in a broad portfolio of hedge funds.
Estimated future benefits payments	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Other Benefits (Thousands) Pension Benefits Gross Benefit Net of 2023 7,565 767 767 2024 8,174 679 679 2025 8,880 608 608 2026 9,773 518 518 2027 10,638 478 478 2028 through 2032 56,634 1,815 1,815

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of cumulative net gain (loss) by component, net of tax, within other comprehensive income	The following table summarizes amounts recognized in other comprehensive income (OCI): Pension Benefits Other Benefits (Thousands) 2022 2021 2020 2022 2021 2020 Change in other comprehensive income OCI at beginning of year $ 42,382 $ 48,673 $ 48,073 $ (6,098) $ (7,525) $ (9,578) Increase (decrease) in OCI: Recognized during year — prior service cost (credit) 78 82 — 1,497 1,497 1,497 Recognized during year — net actuarial (losses) gains (1,701) (2,344) (1,678) 272 275 332 Occurring during year — prior service cost — — (799) — — — Occurring during year — net actuarial losses (gains) 1,112 (4,553) 3,146 (1,800) (345) 224 Other adjustments 551 — (94) — — — Foreign currency exchange rate changes 524 25 — — — OCI at end of year $ 42,422 $ 42,382 $ 48,673 $ (6,129) $ (6,098) $ (7,525) Changes in the components of accumulated other comprehensive (loss) income, including amounts reclassified out, for 2022, 2021, and 2020, and the balances in accumulated other comprehensive (loss) income as of December 31, 2022, 2021, and 2020 are as follows: Gains and Losses Pension and Post- Employment Benefits Foreign Currency Translation (Thousands) Foreign Currency Interest Rate Precious Metals Copper Total Total Balance at December 31, 2019 $ 1,324 $ — $ (452) $ 25 $ 897 $ (41,346) $ (5,013) $ (45,462) Other comprehensive income (loss) before reclassifications (1,268) — (1,675) 218 $ (2,725) (2,721) 9,030 3,584 Amounts reclassified from accumulated other comprehensive income 222 — 2,041 354 2,617 (57) — 2,560 Other comprehensive income (loss) before tax (1,046) — 366 572 (108) (2,778) 9,030 6,144 Deferred taxes on current period activity (241) — 84 129 (28) (651) — (679) Other comprehensive income (loss) after tax (805) — 282 443 (80) (2,127) 9,030 6,823 Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Balance at December 31, 2020 $ 519 $ — $ (170) $ 468 $ 817 $ (43,473) $ 4,017 $ (38,639) Other comprehensive income (loss) before reclassifications 2,252 — 508 2,444 5,204 4,428 (6,904) 2,728 Amounts reclassified from accumulated other comprehensive income 123 — (193) (3,049) (3,119) 437 — (2,682) Other comprehensive income (loss) before tax 2,375 — 315 (605) 2,085 4,865 (6,904) 46 Deferred taxes on current period activity 546 — 73 (137) 482 1,094 — 1,576 Other comprehensive income (loss) after tax 1,829 — 242 (468) 1,603 3,771 (6,904) (1,530) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Balance at December 31, 2021 $ 2,348 $ — $ 72 $ — $ 2,420 $ (39,702) $ (2,887) $ (40,169) Other comprehensive income (loss) before reclassifications (1,260) 8,113 (259) — 6,594 (394) (5,869) 331 Amounts reclassified from accumulated other comprehensive income (176) (250) (126) — (552) 386 — (166) Other comprehensive income (loss) before tax (1,436) 7,863 (385) — 6,042 (8) (5,869) 165 Deferred taxes on current period activity (331) 1,808 (90) — 1,387 518 — 1,905 Other comprehensive income (loss) after tax (1,105) 6,055 (295) — 4,655 (526) (5,869) (1,740) Balance at December 31, 2022 $ 1,243 $ 6,055 $ (223) $ — $ 7,075 $ (40,228) $ (8,756) $ (41,909)

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SARs/Stock Options Roll Forward	The following table summarizes the Company's SARs activity during 2022: (Shares in thousands) Number of Weighted- Aggregate Weighted- Outstanding at December 31, 2021 260 $ 51.55 Granted 45 80.85 Exercised (49) 42.83 Cancelled — — Outstanding at December 31, 2022 256 58.38 $ 7,448 3.8 Vested and expected to vest as of December 31, 2022 256 58.38 7,448 3.8 Exercisable at December 31, 2022 160 50.56 5,928 2.8
SARs/Stock Options Nonvested Share Activity	A summary of the status and changes of shares subject to SARs and the related average price per share follows: (Shares in thousands) Number of Weighted- Nonvested as of December 31, 2021 100 $ 17.98 Granted 45 25.87 Vested (50) 17.47 Cancelled — — Nonvested as of December 31, 2022 95 $ 21.97
SARS/Stock Options, Valuation Assumptions	The fair value of the SARs was estimated on the grant date using the Black-Scholes pricing model with the following assumptions: 2022 2021 2020 Risk-free interest rate 1.56 % 0.57 % 1.41 % Dividend yield 0.6 % 0.7 % 0.9 % Volatility 38.5 % 37.6 % 31.8 % Expected lives (in years) 4.4 4.6 4.8
Summary of Restricted Stock Activity	The following table summarizes the stock-settled RSU activity during 2022: (Shares in thousands) Number of Weighted- Outstanding at December 31, 2021 162 $ 59.23 Granted 61 80.96 Vested (49) 58.29 Forfeited (9) 64.91 Outstanding at December 31, 2022 165 $ 67.31
Schedule of Share-based Compensation, Performance Based Restricted Stock Unit Activity	The following table summarizes the activity related to performance-based RSUs during 2022: (Shares in thousands) Number of Weighted- Outstanding at December 31, 2021 119 $ 70.77 Granted 38 95.44 Vested (43) 69.84 Forfeited (3) 79.01 Outstanding at December 31, 2022 111 $ 79.31

Fair Value Information and De_2

Fair Value Information and Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of fair value information and derivative financial instruments	The following table summarizes the financial instruments measured at fair value on the Consolidated Balance Sheets at December 31, 2022 and 2021: Fair Value Measurements (Thousands) Total Quoted Prices Significant Other December 31, 2022 Financial Assets Deferred compensation investments $ 3,001 $ 3,001 $ — $ — Foreign currency forward contracts 1,291 — 1,291 — Interest rate swap 7,863 7,863 Precious metal swaps 118 — 118 — Total $ 12,273 $ 3,001 $ 9,272 $ — Financial Liabilities Deferred compensation liability $ 3,001 $ 3,001 $ — $ — Foreign currency forward contracts 1,757 — 1,757 — Interest rate swap — — Precious metal swaps 411 — 411 — Total $ 5,169 $ 3,001 $ 2,168 $ — December 31, 2021 Financial Assets Deferred compensation investments $ 4,246 $ 4,246 $ — $ — Foreign currency forward contracts 3,368 — 3,368 — Precious metal swaps 116 — 116 — Total $ 7,730 $ 4,246 $ 3,484 $ — Financial Liabilities Deferred compensation liability $ 4,246 $ 4,246 $ — $ — Foreign currency forward contracts 136 — 136 — Precious metal swaps 24 — 24 — Total $ 4,406 $ 4,246 $ 160 $ —
Derivatives Not Designated as Hedging Instruments	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 December 31, 2022 and 2021: December 31, 2022 December 31, 2021 (Thousands) Notional Fair Notional Fair Foreign currency forward contracts Prepaid expenses $ 12,242 $ 791 $ 55,063 $ 2,132 Other liabilities and accrued items 17,061 1,048 9,425 128
Summary of the notional amount and the fair value of the Company's outstanding derivatives	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 at December 31, 2022 and 2021: December 31, 2022 Fair Value (Thousands) Notional Prepaid and other current assets Other assets Other liabilities and accrued items Other long-term liabilities Foreign currency forward contracts - yen $ 2,985 $ 145 $ — $ 74 $ 26 Foreign currency forward contracts - euro 25,712 355 — 472 137 Precious metal swaps 8,758 118 — 411 — Interest rate swap 100,000 3,114 4,749 — — Total $ 137,455 $ 3,732 $ 4,749 $ 957 $ 163 December 31, 2021 Fair Value Notional Prepaid and other current assets Other assets Other liabilities and accrued items Other long-term liabilities Foreign currency forward contracts - yen $ 3,907 $ 131 $ 2 $ — $ — Foreign currency forward contracts - euro 28,412 1,102 — — 8 Precious metal swaps 6,256 116 — 24 Total $ 38,575 $ 1,349 $ 2 $ 24 $ 8
Derivative Instruments, Gain (Loss)	The following table summarizes the pre-tax 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 for years ended December 31, 2022 and 2021: (Thousands) 2022 2021 Hedging relationship Line item Foreign currency forward contracts Net sales $ (176) $ 123 Precious metal swaps Cost of sales (126) (193) Interest rate swap Interest expense - net (250) — Copper swaps Cost of sales — (3,049) Total $ (552) $ (3,119)

Contingencies and Commitments (

Contingencies and Commitments (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Undiscounted reserve	The undiscounted reserve balance at the beginning of the year, the amounts expensed and paid, and the balance at December 31, 2022 and 2021 are as follows: (Thousands) 2022 2021 Reserve balance at beginning of year $ 4,770 $ 5,476 Expensed 180 185 Paid (480) (891) Reserve balance at end of year $ 4,470 $ 4,770 Ending balance recorded in: Other liabilities and accrued items $ 440 $ 539 Other long-term liabilities 4,030 4,231
Schedule of asset retirement obligations	Asset Retirement Obligations The Company has asset retirement obligations related to its mine in Utah, as well as for certain leased facilities where the Company is contractually obligated to restore the facility back to its original condition at the end of the lease. The following represents a roll forward of the Company's asset retirement obligation liabilities for the years ended December 31, 2022 and 2021: (Thousands) 2022 2021 Asset retirement obligation at beginning of period $ 2,231 $ 1,765 Accretion expense 198 134 Change in liability — 332 Asset retirement obligation at end of period $ 2,429 $ 2,231

Significant Accounting Polici_4

Significant Accounting Policies - Organization (Details)	12 Months Ended
	Dec. 31, 2022 segment
Accounting Policies [Abstract]
Number of reportable segments	4

Significant Accounting Polici_5

Significant Accounting Policies - Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Accounts receivable, allowance for credit loss, current	$ 0.6	$ 0.5

Significant Accounting Polici_6

Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Inventory reserve	$ 0.4	$ 0.3

Significant Accounting Polici_7

Significant Accounting Policies - Property Plant Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Minimum | Land improvements
Property, Plant and Equipment [Line Items]
Useful life of class of asset	10 years
Minimum | Buildings
Property, Plant and Equipment [Line Items]
Useful life of class of asset	20 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life of class of asset	3 years
Minimum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life of class of asset	4 years
Minimum | Automobiles and trucks
Property, Plant and Equipment [Line Items]
Useful life of class of asset	3 years
Minimum | Research equipment
Property, Plant and Equipment [Line Items]
Useful life of class of asset	3 years
Minimum | Computer hardware
Property, Plant and Equipment [Line Items]
Useful life of class of asset	3 years
Minimum | Computer software
Property, Plant and Equipment [Line Items]
Useful life of class of asset	3 years
Maximum | Land improvements
Property, Plant and Equipment [Line Items]
Useful life of class of asset	20 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Useful life of class of asset	40 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life of class of asset	15 years
Maximum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life of class of asset	10 years
Maximum | Automobiles and trucks
Property, Plant and Equipment [Line Items]
Useful life of class of asset	8 years
Maximum | Research equipment
Property, Plant and Equipment [Line Items]
Useful life of class of asset	10 years
Maximum | Computer hardware
Property, Plant and Equipment [Line Items]
Useful life of class of asset	10 years
Maximum | Computer software
Property, Plant and Equipment [Line Items]
Useful life of class of asset	10 years

Significant Accounting Polici_8

Significant Accounting Policies - Mineral Resources and Mine Development (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Accounting Policies [Abstract]
Cost of mine development	$ 12.9

Significant Accounting Polici_9

Significant Accounting Policies - Unearned Income (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Deferred income	$ 85.9	$ 72.6

Significant Accounting Polic_10

Significant Accounting Policies - Advertising (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Advertising expense	$ 0.3	$ 0.3	$ 0.3

Acquisition - Additional Inform

Acquisition - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended			14 Months Ended
	Nov. 01, 2021	Oct. 31, 2021	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill				$ 319,498	$ 318,620	$ 144,916	$ 319,498
Amortization of intangible assets				12,400	5,973	2,377
HCS- Electronic Materials
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 398,900				398,900
Inventory step up							0
Debt instrument, face amount	300,000	$ 300,000		$ 300,000			300,000
Debt instrument, term		5 years		5 years
Amount outstanding				$ 103,000			103,000
Working capital true-up			$ 3,000
Goodwill	$ 178,181			181,325	$ 181,300		$ 181,325
HCS- Electronic Materials | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Business combination, integration related costs				4,200
HCS- Electronic Materials | Cost of sales
Business Acquisition [Line Items]
Inventory step up				$ 7,500
HCS- Electronic Materials | Business Acquisition, Pro Forma Net Income (Loss)
Business Acquisition [Line Items]
Amortization of inventory step-up						15,000
Interest expense						10,000
Amortization of intangible assets						8,200
Transaction expenses						$ 5,500

Acquisition - Schedule of Busin

Acquisition - Schedule of Business Acquisitions, by Acquisition (Details) - USD ($) $ in Thousands	14 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Nov. 01, 2021	Dec. 31, 2020
Assets:
Operating lease, right-of-use assets	$ 64,249	$ 63,096
Goodwill	319,498	318,620		$ 144,916
HCS- Electronic Materials
Assets:
Cash and cash equivalents	3,685		$ 3,685
Cash and cash equivalents, Measurement Period Adjustments	0
Accounts receivable	28,387		28,352
Accounts receivable, Measurement Period Adjustments	35
Inventories	70,681		70,681
Inventories, Measurement Period Adjustments	0
Prepaid and other current assets	210		660
Prepaid and other current assets, Measurement Period Adjustments	(450)
Property, plant, and equipment	45,036		44,681
Property, plant, and equipment, Measurement Period Adjustments	355
Operating lease, right-of-use assets	6,120		6,120
Operating lease, right-of-use assets, Measurement Period Adjustments	0
Intangible assets	107,800		107,800
Intangible assets, Measurement Period Adjustments	0
Other long-term assets	4,528		4,528
Other long-term assets, Measurement Period Adjustments	0
Goodwill	181,325	$ 181,300	178,181
Goodwill, Measurement Period Adjustments	3,144
Total assets acquired	447,772		444,688
Total assets acquired, Measurement Period Adjustments	3,084
Liabilities:
Accounts payable	11,899		12,139
Accounts payable, Measurement Period Adjustments	(240)
Salaries and wages	3,141		2,516
Salaries and wages, Measurement Period Adjustments	625
Other liabilities and accrued items	28		28
Other liabilities and accrued items, Measurement Period Adjustments	0
Income taxes	1,726		2,183
Income taxes, Measurement Period Adjustments	(457)
Other long-term liabilities	5,758		5,543
Other long-term liabilities, Measurement Period Adjustments	215
Operating lease liabilities	6,042		6,042
Operating lease liabilities, Measurement Period Adjustments	0
Deferred income taxes	20,270		20,300
Deferred income taxes, Measurement Period Adjustments	(30)
Total liabilities assumed	48,864		48,751
Total liabilities assumed, Measurement Period Adjustments	113
Net assets acquired	398,908		$ 395,937
Net assets acquired, Measurement Period Adjustments	$ 2,971

Acquisition - Finite-Lived and

Acquisition - Finite-Lived and Indefinite-Lived Intangibles Assets Acquired as Part of Business Combinations (Details) - HCS- Electronic Materials - USD ($) $ in Thousands	Nov. 01, 2021	Dec. 31, 2022
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 107,800	$ 107,800
Customer relationships
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 50,200
Acquired finite-lived intangible assets, weighted average useful life (in years)	13 years
Technology
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 35,300
Acquired finite-lived intangible assets, weighted average useful life (in years)	13 years
Trade name
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets	$ 22,300
Acquired finite-lived intangible assets, weighted average useful life (in years)	15 years

Acquisition - Pro Forma Informa

Acquisition - Pro Forma Information (Details) - HCS- Electronic Materials - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Combination, Separately Recognized Transactions [Line Items]
Net Sales	$ 1,659,620	$ 1,308,300
Profit income (loss) before taxes	$ 91,551	$ (17,761)

Segment Reporting and Geograp_3

Segment Reporting and Geographic Information - Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 1,757,109	$ 1,510,644	$ 1,176,274
Total Segment EBITDA	178,441	126,363
Income tax expense	17,110	4,851	(7,187)
Interest expense - net	21,905	4,901	3,879
Depreciation, depletion, and amortization	53,436	44,137	42,384
Net income	85,990	72,474	$ 15,462
Performance Materials
Segment Reporting Information [Line Items]
Net sales	671,525	511,874
Total Segment EBITDA	125,227	89,028
Performance Materials | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	700	200
Electronic Materials
Segment Reporting Information [Line Items]
Net sales	971,902	866,816
Total Segment EBITDA	67,806	44,852
Electronic Materials | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	14,000	13,900
Precision Optics
Segment Reporting Information [Line Items]
Net sales	113,682	131,954
Total Segment EBITDA	13,753	25,854
Other
Segment Reporting Information [Line Items]
Net sales	0	0
Total Segment EBITDA	$ (28,345)	$ (33,371)

Segment Reporting and Geograp_4

Segment Reporting and Geographic Information - Sales and Long-Lived Assets Attributed to Countries Based Upon the Location of Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Sales and long-lived assets attributed to countries based upon the location of customers
Net sales	$ 1,757,109	$ 1,510,644	$ 1,176,274
Property, plant, and equipment, net by country deployed	448,765	408,975	309,686
United States
Sales and long-lived assets attributed to countries based upon the location of customers
Net sales	867,053	794,862	641,727
Property, plant, and equipment, net by country deployed	372,779	327,969	223,340
Asia
Sales and long-lived assets attributed to countries based upon the location of customers
Net sales	519,395	426,303	329,968
Europe
Sales and long-lived assets attributed to countries based upon the location of customers
Net sales	355,691	270,213	189,281
All other
Sales and long-lived assets attributed to countries based upon the location of customers
Net sales	14,970	19,266	15,298
Property, plant, and equipment, net by country deployed	$ 75,986	$ 81,006	$ 86,346

Segment Reporting and Geograp_5

Segment Reporting and Geographic Information - Disaggregation of Revenue by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,757,109	$ 1,510,644	$ 1,176,274
Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	798,290	694,138
Industrial
Disaggregation of Revenue [Line Items]
Net sales	247,367	201,141
Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	133,754	115,177
Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	73,669	75,363
Automotive
Disaggregation of Revenue [Line Items]
Net sales	111,093	121,143
Energy
Disaggregation of Revenue [Line Items]
Net sales	148,865	123,243
Telecom and Data Center
Disaggregation of Revenue [Line Items]
Net sales	65,379	53,683
Other
Disaggregation of Revenue [Line Items]
Net sales	178,692	126,756
Performance Materials
Disaggregation of Revenue [Line Items]
Net sales	671,525	511,874
Performance Materials | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	8,666	8,481
Performance Materials | Industrial
Disaggregation of Revenue [Line Items]
Net sales	168,012	123,337
Performance Materials | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	110,884	86,046
Performance Materials | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	49,859	41,694
Performance Materials | Automotive
Disaggregation of Revenue [Line Items]
Net sales	93,581	105,466
Performance Materials | Energy
Disaggregation of Revenue [Line Items]
Net sales	50,021	23,913
Performance Materials | Telecom and Data Center
Disaggregation of Revenue [Line Items]
Net sales	65,230	53,510
Performance Materials | Other
Disaggregation of Revenue [Line Items]
Net sales	125,272	69,427
Electronic Materials
Disaggregation of Revenue [Line Items]
Net sales	971,902	866,816
Electronic Materials | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	784,517	683,085
Electronic Materials | Industrial
Disaggregation of Revenue [Line Items]
Net sales	47,407	45,025
Electronic Materials | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	5,882	5,509
Electronic Materials | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	1,144	1,184
Electronic Materials | Automotive
Disaggregation of Revenue [Line Items]
Net sales	7,590	7,321
Electronic Materials | Energy
Disaggregation of Revenue [Line Items]
Net sales	98,844	99,330
Electronic Materials | Telecom and Data Center
Disaggregation of Revenue [Line Items]
Net sales	149	173
Electronic Materials | Other
Disaggregation of Revenue [Line Items]
Net sales	26,369	25,189
Precision Optics
Disaggregation of Revenue [Line Items]
Net sales	113,682	131,954
Precision Optics | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	5,107	2,572
Precision Optics | Industrial
Disaggregation of Revenue [Line Items]
Net sales	31,948	32,779
Precision Optics | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	16,988	23,622
Precision Optics | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	22,666	32,485
Precision Optics | Automotive
Disaggregation of Revenue [Line Items]
Net sales	9,922	8,356
Precision Optics | Energy
Disaggregation of Revenue [Line Items]
Net sales	0	0
Precision Optics | Telecom and Data Center
Disaggregation of Revenue [Line Items]
Net sales	0	0
Precision Optics | Other
Disaggregation of Revenue [Line Items]
Net sales	27,051	32,140
Other
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Semiconductor
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Industrial
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Consumer Electronics
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Automotive
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Energy
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Telecom and Data Center
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 63.9
Contract with customer, liability, revenue recognized	$ 7.1	$ 6.8

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable, trade
Capitalized Contract Cost [Line Items]
Contract with customer, asset	$ 215,726	$ 213,584
Change in accounts receivable, trade	$ 2,142
Contract asset percent change	1%
Unbilled receivables
Capitalized Contract Cost [Line Items]
Contract with customer, asset	$ 10,765	7,961
Change in unbilled receivables	$ 2,804
Contract asset percent change	35%
Unearned revenue
Capitalized Contract Cost [Line Items]
Unearned revenue	$ 15,496	$ 7,770
Change in unearned revenue	$ 7,726
Contract liability percent change	99%

Other-net - Summary of Other-ne

Other-net - Summary of Other-net Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of other-net expense
Metal consignment fees	$ 12,212	$ 9,305	$ 8,587
Amortization of intangible assets	12,400	5,973	2,377
Foreign currency loss (gain)	(679)	1,573	(2,569)
Net (gain) loss on disposal of fixed assets	14	(282)	466
Other items	290	168	(398)
Total other-net	$ 24,237	$ 16,737	$ 8,463

Interest Expense-net - Summary

Interest Expense-net - Summary of Interest Incurred, Capitalized and Paid (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of interest incurred, capitalized and paid
Interest incurred, net	$ 23,014	$ 5,277	$ 3,889
Less: Capitalized interest	1,109	376	10
Total net expense	21,905	4,901	3,879
Interest paid	$ 21,190	$ 3,652	$ 3,442

Interest Expense-net - Addition

Interest Expense-net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest [Abstract]
Amortization of deferred financing costs	$ 1,734	$ 967	$ 790

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expenses Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (loss) before income taxes:
Domestic	$ 90,403	$ 54,684	$ (1,153)
Foreign	12,697	22,641	9,428
Income before income taxes	103,100	77,325	8,275
Current income tax expense (benefit):
Domestic	12,571	14,603	812
Foreign	2,806	3,205	1,851
Total current	15,377	17,808	2,663
Deferred income tax (benefit) expense:
Domestic	588	(7,953)	(5,641)
Foreign	1,145	(5,004)	(4,209)
Total deferred	1,733	(12,957)	(9,850)
Total income tax expense (benefit)	$ 17,110	$ 4,851	$ (7,187)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of the federal statutory and effective income tax rate
U.S. federal statutory rate	21%	21%	21%
State and local income taxes, net of federal tax effect	1.70%	(0.30%)	(10.00%)
Effect of excess of percentage depletion over cost depletion	(3.10%)	(3.40%)	(43.00%)
Foreign derived intangible income deduction	(1.70%)	(2.30%)	(1.80%)
Non-deductible goodwill impairment	0%	0%	7.10%
Research and development tax credit	(2.00%)	(1.20%)	(16.40%)
Impact of foreign operations	0.60%	0.30%	(5.30%)
Non-deductible transaction costs	0%	1.60%	6.90%
Interest from tax authorities	0%	0%	(3.80%)
Adjustment to unrecognized tax benefits	(0.50%)	(1.90%)	1.80%
Equity compensation	(0.90%)	(0.50%)	(5.30%)
Non-deductible officers' compensation	1.20%	1.40%	6.80%
Valuation allowance	0.60%	(8.50%)	(45.50%)
Other items	(0.30%)	0.10%	0.60%
Effective tax rate	16.60%	6.30%	(86.90%)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Asset (liability)
Post-employment benefits other than pensions	$ 1,230	$ 1,714
Other reserves	1,831	1,901
Deferred compensation	3,850	3,263
Environmental reserves	1,321	1,358
Inventory	6,118	0
Research expenditures	7,069	0
Revenue recognition	7,878	5,027
Lease liabilities	12,651	11,639
Interest expense carryforward	12,470	14,163
Pensions	0	1,393
Accrued compensation expense	5,477	6,410
Net operating loss and credit carryforwards	9,915	11,423
Subtotal	69,810	58,291
Valuation allowance	(4,935)	(4,957)
Total deferred tax assets	64,875	53,334
Depreciation	(42,481)	(24,484)
Lease assets	(12,078)	(11,184)
Inventory	0	(2,329)
Amortization	(32,925)	(35,542)
Mine development	0	(917)
Pensions	(400)	0
Unrealized gains	(1,940)	(663)
Total deferred tax liabilities	(89,824)	(75,119)
Net deferred tax liabilities	$ (24,949)	$ (21,785)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ (17,110)	$ (4,851)	$ 7,187
Operating loss carryforwards, valuation allowance	4,900
Income tax holiday, aggregate dollar amount	3,000
Unrecognized tax benefits that would impact effective tax rate if recognized	700	1,200
Income taxes paid	14,500	$ 21,800	$ 3,900
Unrepatriated earnings	105,400
Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit, amount subject to expiration	7,400
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Foreign net operating loss carryforwards, do not expire	21,200
Foreign net operating loss carryforwards subject to expiration	3,200
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Foreign net operating loss carryforwards subject to expiration	16,300
Tax credit, amount subject to expiration	$ 4,100

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of unrecognized tax benefits
Balance at January 1	$ 1,142	$ 2,360
Additions to tax provisions related to the current year	0	431
Additions to tax positions related to prior years	0	0
Reduction to tax positions related to prior years	(8)	(45)
Lapses on statutes of limitations	(482)	(1,604)
Balance at December 31	$ 652	$ 1,142

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator for basic and diluted EPS:
Net income	$ 85,990	$ 72,474	$ 15,462
Denominator for basic EPS:
Weighted-average shares outstanding (in shares)	20,511	20,422	20,338
Effect of dilutive securities:
Diluted potential common shares (in shares)	249	267	265
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding (in shares)	20,760	20,689	20,603
Basic EPS (in usd per share)	$ 4.19	$ 3.55	$ 0.76
Diluted EPS (in usd per share)	$ 4.14	$ 3.50	$ 0.75
Stock appreciation rights
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	81	78	39
Restricted stock units
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	102	124	102
Performance-based restricted stock units
Effect of dilutive securities:
Dilutive effect of share-based compensation (in shares)	66	65	124

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock appreciation rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity awards excluded from diluted EPS calculation (in shares)	56,636	55,598	166,255

Inventories, net - Summary of I

Inventories, net - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 113,694	$ 93,518
Work in process	249,105	221,638
Finished goods	60,281	45,959
Inventories, net	$ 423,080	$ 361,115

Inventories, net - Additional D

Inventories, net - Additional Details (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Notional amount of nonderivative instruments	$ 373.1	$ 480.2
Inventory excess and obsolete reserve	$ 19.8	$ 23.9

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Property, plant and equipment
Property, plant, and equipment — net	$ 448,765	$ 408,975	$ 309,686
Land
Summary of Property, plant and equipment
Property, plant, and equipment	26,579	26,627
Buildings
Summary of Property, plant and equipment
Property, plant, and equipment	200,223	173,907
Machinery and equipment
Summary of Property, plant and equipment
Property, plant, and equipment	770,628	687,502
Software
Summary of Property, plant and equipment
Property, plant, and equipment	44,886	45,445
Construction in progress
Summary of Property, plant and equipment
Property, plant, and equipment	100,188	130,838
Land Building Machinery and Equipment
Summary of Property, plant and equipment
Less allowances for depreciation, depletion, and amortization	(720,455)	(690,166)
Property, plant, and equipment — net	422,049	374,153
Capital leases
Summary of Property, plant and equipment
Property, plant, and equipment	31,662	32,865
Less allowances for depreciation, depletion, and amortization	(7,395)	(6,193)
Property, plant, and equipment — net	24,267	26,672
Mineral resources
Summary of Property, plant and equipment
Property, plant, and equipment	4,980	4,980
Mine development
Summary of Property, plant and equipment
Property, plant, and equipment	30,059	30,059
Productive land
Summary of Property, plant and equipment
Less allowances for depreciation, depletion, and amortization	(32,590)	(26,889)
Property, plant, and equipment — net	$ 2,449	$ 8,150

Property, Plant, and Equipmen_3

Property, Plant, and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Reimbursement of costs	$ 63.5
Unearned income	15.3	$ 19.7
Depreciation and depletion expense	35.2	31.4	$ 30.9
Net book value of capitalized software	4.6	5.4
Software amortization	1.8	1.8	1.8
Capital expenditures incurred but not yet paid	12.1	2.1
Cost of sales
Property, Plant and Equipment [Line Items]
Unearned income	$ (4.4)	$ (4.3)	$ (4.3)

Customer Prepayments - Addition

Customer Prepayments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Prepayments from customers	$ 21.9
Deferred income	85.9	$ 72.6
Unearned revenue	$ 4.5

Leasing Arrangements - Addition

Leasing Arrangements - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Operating lease term maximum	25 years

Leasing Arrangements - Lease Co

Leasing Arrangements - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 13,381	$ 11,825
FinanceLeaseAbstract [Abstract]
Amortization of right-of-use assets	1,202	1,989
Interest on lease liabilities	819	1,009
Total lease cost	$ 15,402	$ 14,823

Leasing Arrangements - Schedule

Leasing Arrangements - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
Operating lease, right-of-use assets	$ 64,249	$ 63,096
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Other liabilities and accrued items	$ 8,401	$ 7,906
Operating lease liabilities	$ 59,055	$ 57,099
Finance Leases
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization
Property, plant, and equipment	$ 31,662	$ 32,865
Allowances for depreciation, depletion, and amortization	(7,395)	(6,193)
Finance lease assets, net	$ 24,267	$ 26,672
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Other liabilities and accrued items	$ 1,485	$ 2,800
Finance lease liabilities	13,876	16,327
Total principal payable on finance leases	$ 15,361	$ 19,127
Weighted Average Remaining Lease Term
Operating leases (in years)	11 years 9 months 10 days	11 years 5 months 19 days
Finance leases (in years)	17 years 11 months 23 days	16 years 11 months 15 days
Weighted Average Discount Rate
Operating leases	6.08%	6.19%
Finance leases	5.11%	4.99%

Leasing Arrangements - Future E

Leasing Arrangements - Future Estimated Minimum Payments Under Finance Leases and Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finance Leases
2023	$ 2,216
2024	1,385
2025	1,230
2026	1,204
2027	1,204
2028 and thereafter	16,579
Total lease payments	23,818
Less amount of lease payment representing interest	8,457
Total present value of lease payments	15,361	$ 19,127
Operating Leases
2023	12,338
2024	9,642
2025	8,743
2026	7,355
2027	5,913
2028 and thereafter	51,574
Total lease payments	95,565
Less amount of lease payment representing interest	28,109
Total present value of lease payments	$ 67,456

Leasing Arrangements - Schedu_2

Leasing Arrangements - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 19,653	$ 17,580
Operating cash flows from finance leases	818	1,009
Financing cash flows from finance leases	2,736	2,819	$ 2,213
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	9,967	9,191
Finance leases	$ 0	$ 0

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Summary of Cost, Accumulated Amortization and Net Book Value of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Summary of cost, accumulated amortization and net book value of intangible assets
Gross Carrying Amount	$ 189,533	$ 190,702
Accumulated Amortization	(49,932)	(37,573)
Finite-Lived Intangible Assets, Net	143,219	156,736
Customer relationships
Summary of cost, accumulated amortization and net book value of intangible assets
Gross Carrying Amount	110,347	111,220
Accumulated Amortization	(28,950)	(22,777)
Finite-Lived Intangible Assets, Net	81,397	88,443
Technology
Summary of cost, accumulated amortization and net book value of intangible assets
Gross Carrying Amount	44,886	45,014
Accumulated Amortization	(10,420)	(6,917)
Finite-Lived Intangible Assets, Net	34,466	38,097
Licenses and other
Summary of cost, accumulated amortization and net book value of intangible assets
Gross Carrying Amount	34,300	34,468
Accumulated Amortization	(10,562)	(7,879)
Finite-Lived Intangible Assets, Net	23,738	26,589
Finite-Lived Intangible Assets
Summary of cost, accumulated amortization and net book value of intangible assets
Finite-Lived Intangible Assets, Net	$ 139,601	$ 153,129

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Amortization of intangible assets		$ 12,400	$ 5,973	$ 2,377
Goodwill		319,498	318,620	144,916
Goodwill impairment charges		0	0	9,053
Discontinued Operations, Disposed of by Means Other than Sale | LAC Restructuring
Goodwill [Line Items]
Intangible assets				26,200
HCS- Electronic Materials
Goodwill [Line Items]
Intangible assets	$ 107,800	107,800
Business combination, consideration transferred	398,900		398,900
Goodwill	178,181	181,325	181,300
Electronic Materials
Goodwill [Line Items]
Goodwill		206,670	204,520	50,527
Goodwill impairment charges		0	0
Electronic Materials | HCS- Electronic Materials
Goodwill [Line Items]
Goodwill			157,000
Performance Materials
Goodwill [Line Items]
Goodwill		26,157	25,803	1,899
Goodwill impairment charges		0	0
Performance Materials | HCS- Electronic Materials
Goodwill [Line Items]
Goodwill			24,300
LAC Restructuring
Goodwill [Line Items]
Goodwill impairment charges		20,600	20,600	$ 20,600
Customer relationships | HCS- Electronic Materials
Goodwill [Line Items]
Intangible assets	$ 50,200
Acquired finite-lived intangible assets, weighted average useful life (in years)	13 years
Technology | HCS- Electronic Materials
Goodwill [Line Items]
Intangible assets	$ 35,300
Acquired finite-lived intangible assets, weighted average useful life (in years)	13 years
Trade name | HCS- Electronic Materials
Goodwill [Line Items]
Intangible assets	$ 22,300
Acquired finite-lived intangible assets, weighted average useful life (in years)	15 years
Deferred Financing Costs
Goodwill [Line Items]
Deferred finance cost		$ 3,600	$ 3,600

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Finite-lived Intangible Assets Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 12,473
2024	12,473
2025	11,851
2026	10,626
2027	$ 10,471

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 318,620	$ 144,916
Goodwill, acquired during period	0	178,181
Goodwill impairment charges	0	0	$ (9,053)
Goodwill, other increase (decrease)	878	(4,477)
Goodwill, ending balance	319,498	318,620	144,916
Performance Materials
Goodwill [Roll Forward]
Goodwill, beginning balance	25,803	1,899
Goodwill, acquired during period		23,904
Goodwill impairment charges	0	0
Goodwill, other increase (decrease)	354	0
Goodwill, ending balance	26,157	25,803	1,899
Electronic Materials
Goodwill [Roll Forward]
Goodwill, beginning balance	204,520	50,527
Goodwill, acquired during period		154,277
Goodwill impairment charges	0	0
Goodwill, other increase (decrease)	2,150	(284)
Goodwill, ending balance	206,670	204,520	50,527
Precision Optics
Goodwill [Roll Forward]
Goodwill, beginning balance	88,297	92,490
Goodwill, acquired during period	0	0
Goodwill impairment charges	0	0
Goodwill, other increase (decrease)	(1,626)	(4,193)
Goodwill, ending balance	$ 86,671	$ 88,297	$ 92,490

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Summary of long-term debt
Line of credit facility, interest rate at period end	6.08%	2.12%
Borrowings under Credit Agreement with average interest rate of 6.08% at December 31, 2022 and 2.12% at December 31, 2021	$ 143,250	$ 152,296
Borrowings under the Term Loan Facility	285,000	300,000
Foreign debt	7,541	2,252
Total long-term debt outstanding	435,791	454,548
Current portion of long-term debt	(21,105)	(15,359)
Gross long-term debt	414,686	439,189
Unamortized deferred financing fees	(3,810)	(4,801)
Long-term debt	$ 410,876	$ 434,388

Debt - Maturities on Long-Term

Debt - Maturities on Long-Term Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Maturities on long-term debt instruments
2023	$ 21,105
2024	30,337
2025	30,337
2026	353,543
2027	204
2028 and thereafter	265
Total long-term debt outstanding	$ 435,791	$ 454,548

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 31, 2023	Dec. 31, 2021	Nov. 01, 2021	Oct. 31, 2021
Line of Credit Facility [Line Items]
Cash on hand	$ 25,000
Total long-term debt outstanding	435,791		$ 454,548
HCS- Electronic Materials
Line of Credit Facility [Line Items]
Maximum borrowing capacity	375,000
Debt instrument, face amount	300,000			$ 300,000	$ 300,000
Precious Metals
Line of Credit Facility [Line Items]
Maximum borrowing capacity	600,000
Precious Metals | Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 615,000
Additional term loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	150,000
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	$ 46,500		46,300
Revolving Credit Facility
Line of Credit Facility [Line Items]
Variable commitment fee	0.28%
Credit Agreement
Line of Credit Facility [Line Items]
Total long-term debt outstanding	$ 428,300		$ 452,300
Short-term Debt
Line of Credit Facility [Line Items]
Line of credit facility, remaining borrowing capacity	$ 185,300

Pensions and Other Post-Emplo_3

Pensions and Other Post-Employment Benefits - Reconciliation of the Benefit Obligations and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in plan assets
Fair value of plan assets at beginning of year	$ 227,340
Fair value of plan assets at end of year	164,596	$ 227,340
Pension Benefits
Change in benefit obligation
Benefit obligation at beginning of year	235,779	246,107
Service cost	1,231	1,722	$ 1,403
Interest cost	4,874	4,186	5,234
Net pension curtailments and settlements	(3,104)	0
Acquisition	0	0
Plan amendments	0	0
Actuarial (gain) loss	(61,819)	(8,448)
Benefit payments	(5,821)	(4,927)
Foreign currency exchange rate changes and other	(3,108)	(2,861)
Benefit obligation at end of year	168,032	235,779	246,107
Change in plan assets
Fair value of plan assets at beginning of year	227,340	226,176
Plan settlements	(3,104)	0
Acquisition	0	0
Actual return on plan assets	(53,283)	5,769
Employer contributions	831	955
Employee contributions	786	878
Benefit payments from fund	(6,175)	(5,399)
Foreign currency exchange rate changes and other	(1,799)	(1,039)
Fair value of plan assets at end of year	164,596	227,340	226,176
Funded status at end of year	(3,436)	(8,439)
Other assets	11,761	18,566
Other liabilities and accrued items	(536)	(1,662)
Retirement and post-employment benefits	(14,661)	(25,343)
Other Benefits
Change in benefit obligation
Benefit obligation at beginning of year	7,514	8,190
Service cost	78	80	59
Interest cost	156	116	213
Net pension curtailments and settlements	0	0
Acquisition	0	0
Plan amendments	0	0
Actuarial (gain) loss	(1,800)	(112)
Benefit payments	(443)	(742)
Foreign currency exchange rate changes and other	0	(18)
Benefit obligation at end of year	5,505	7,514	8,190
Change in plan assets
Fair value of plan assets at beginning of year	0	0
Plan settlements	0	0
Acquisition	0	0
Actual return on plan assets	0	0
Employer contributions	0	0
Employee contributions	0	0
Benefit payments from fund	0	0
Foreign currency exchange rate changes and other	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	(5,505)	(7,514)
Other assets	0	0
Other liabilities and accrued items	(754)	(754)
Retirement and post-employment benefits	$ (4,751)	$ (6,760)

Pensions and Other Post-Emplo_4

Pensions and Other Post-Employment Benefits - Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure
Net actuarial loss (gain)	$ 43,039	$ 42,440
Net prior service cost (credit)	(617)	(695)
Net transition obligation/(asset)	0	637
Net amount recognized	42,422	42,382
Other Benefits
Defined Benefit Plan Disclosure
Net actuarial loss (gain)	(5,573)	(4,044)
Net prior service cost (credit)	(556)	(2,054)
Net transition obligation/(asset)	0	0
Net amount recognized	$ (6,129)	$ (6,098)

Pensions and Other Post-Emplo_5

Pensions and Other Post-Employment Benefits - Schedule of Accumulated and Projected Benefit Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure
Accumulated benefit obligation for all defined benefit pension plans	$ 167,366	$ 233,717
For defined benefit pension plans with benefit obligations in excess of plan assets:
Aggregate benefit obligation	18,490	58,052
Aggregate fair value of plan assets	3,279	33,148
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets:
Aggregate accumulated benefit obligation	17,833	56,043
Aggregate fair value of plan assets	3,279	33,148
Other Benefits
Defined Benefit Plan Disclosure
Accumulated benefit obligation for all defined benefit pension plans	0	0
For defined benefit pension plans with benefit obligations in excess of plan assets:
Aggregate benefit obligation	0	0
Aggregate fair value of plan assets	0	0
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets:
Aggregate accumulated benefit obligation	0	0
Aggregate fair value of plan assets	$ 0	$ 0

Pensions and Other Post-Emplo_6

Pensions and Other Post-Employment Benefits - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plan Disclosure
Service cost	$ 1,231	$ 1,722	$ 1,403
Interest cost	4,874	4,186	5,234
Expected return on plan assets	(9,570)	(9,881)	(9,333)
Amortization of prior service credit	(78)	(82)	0
Recognized net actuarial loss (gain)	1,701	2,344	1,678
Net periodic benefit (credit) cost	(1,842)	(1,711)	(1,018)
Net pension curtailments and settlements	(551)	0	94
Total net benefit (credit) cost	(2,393)	(1,711)	(924)
Other Benefits
Defined Benefit Plan Disclosure
Service cost	78	80	59
Interest cost	156	116	213
Expected return on plan assets	0	0	0
Amortization of prior service credit	(1,497)	(1,497)	(1,497)
Recognized net actuarial loss (gain)	(272)	(275)	(332)
Net periodic benefit (credit) cost	(1,535)	(1,576)	(1,557)
Net pension curtailments and settlements	0	0	0
Total net benefit (credit) cost	$ (1,535)	$ (1,576)	$ (1,557)

Pensions and Other Post-Emplo_7

Pensions and Other Post-Employment Benefits - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension and other post-retirement benefits (Textual)
Defined benefit plan, assumptions used calculating benefit obligation, rate of compensation increase	3.50%
Rate of compensation increase	3%	3%
Target funded status percentage	100%
Current asset allocation to invest in alternative securities, maximum	20%
Liability for other post-employment arrangements	$ 20,422,000	$ 33,394,000
Company's annual contributions	13,100,000	9,900,000	$ 9,800,000
Foreign Plan
Pension and other post-retirement benefits (Textual)
Liability for other post-employment arrangements	500,000	$ 1,100,000
Maximum
Pension and other post-retirement benefits (Textual)
Lump sum program payments	$ 100,000
Equity securities | Minimum
Pension and other post-retirement benefits (Textual)
Defined benefit plan, plan assets, target allocation, percentage	0%
Equity securities | Maximum
Pension and other post-retirement benefits (Textual)
Defined benefit plan, plan assets, target allocation, percentage	40%
Fixed Income Funds | Minimum
Pension and other post-retirement benefits (Textual)
Defined benefit plan, plan assets, target allocation, percentage	60%
Fixed Income Funds | Maximum
Pension and other post-retirement benefits (Textual)
Defined benefit plan, plan assets, target allocation, percentage	90%

Pensions and Other Post-Emplo_8

Pensions and Other Post-Employment Benefits - Summary of Cumulative Net Gain (Loss) by Component, Net of Tax, Within Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Change in other comprehensive income
OCI at beginning of year	$ 42,382	$ 48,673	$ 48,073
Recognized during year — prior service cost (credit)	78	82	0
Recognized during year — net actuarial (losses) gains	(1,701)	(2,344)	(1,678)
Occurring during year — prior service cost	0	0	(799)
Occurring during year — net actuarial losses (gains)	1,112	(4,553)	3,146
Other adjustments	551	0	(94)
Foreign currency exchange rate changes		524	25
OCI at end of year	42,422	42,382	48,673
Other Benefits
Change in other comprehensive income
OCI at beginning of year	(6,098)	(7,525)	(9,578)
Recognized during year — prior service cost (credit)	1,497	1,497	1,497
Recognized during year — net actuarial (losses) gains	272	275	332
Occurring during year — prior service cost	0	0	0
Occurring during year — net actuarial losses (gains)	(1,800)	(345)	224
Other adjustments	0	0	0
Foreign currency exchange rate changes	0	0	0
OCI at end of year	$ (6,129)	$ (6,098)	$ (7,525)

Pensions and Other Post-Emplo_9

Pensions and Other Post-Employment Benefits - Summary of Key Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assumptions used to determine benefit obligations at fiscal year end
Rate of compensation increase	3.50%
Assumptions used to determine net cost for the fiscal year
Rate of compensation increase	3%	3%
Pension Benefits | Minimum
Assumptions used to determine benefit obligations at fiscal year end
Discount rate	2.16%	0.22%	0.03%
Rate of compensation increase	1.75%	1.50%	1.50%
Assumptions used to determine net cost for the fiscal year
Discount rate	0.22%	0.03%	0.21%
Expected long-term return on plan assets	1.20%	1.20%	1.80%
Rate of compensation increase	1.50%	1.50%	1.50%
Pension Benefits | Maximum
Assumptions used to determine benefit obligations at fiscal year end
Discount rate	5.54%	3.02%	2.76%
Rate of compensation increase	3%	3%	3%
Assumptions used to determine net cost for the fiscal year
Discount rate	3.02%	2.76%	3.48%
Expected long-term return on plan assets	5.25%	5.75%	6%
Rate of compensation increase	3%	3%	3%
Other Benefits
Assumptions used to determine benefit obligations at fiscal year end
Discount rate	5.52%	2.90%	2.45%
Rate of compensation increase	3.50%	3%	3%
Assumptions used to determine net cost for the fiscal year
Discount rate	2.90%	2.45%	3.20%
Rate of compensation increase	3%	3%	3%

Pensions and Other Post-Empl_10

Pensions and Other Post-Employment Benefits - Assumed Health Care Trend Rates (Details)	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Health care trend rate assumed for next year	6%	6%
Rate that the trend rate gradually declines to (ultimate trend rate)	5%	5%

Pensions and Other Post-Empl_11

Pensions and Other Post-Employment Benefits - Summary of Fair Values of the Company's Defined Benefit Pension Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	$ 164,596	$ 227,340
Fair value of plan assets excluding net asset value investments	$ 54,570	71,997
Mutual fund that typically invests at least 80% of its assets in equity and debt securities	80%
Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets excluding net asset value investments	$ 54,570	71,997
Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets excluding net asset value investments	0	0
Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets excluding net asset value investments	0	0
Cash
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	1,058	4,777
Cash | Level 1
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	1,058	4,777
Cash | Level 2
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Cash | Level 3
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Equity securities
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	37,083	49,618
Equity securities | Level 1
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	37,083	49,618
Equity securities | Level 2
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Equity securities | Level 3
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Fixed-income securities
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	13,314	14,344
Fixed-income securities | Level 1
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	13,314	14,344
Fixed-income securities | Level 2
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Fixed-income securities | Level 3
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Real estate fund
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	3,115	3,258
Real estate fund | Level 1
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	3,115	3,258
Real estate fund | Level 2
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Real estate fund | Level 3
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	0	0
Pooled investment fund
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	103,142	147,832
Multi-strategy hedge funds
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	6,812	7,438
Private equity funds
Defined Benefit Plan Disclosure
Defined benefit plan, plan assets, amount	$ 72	$ 73

Pensions and Other Post-Empl_12

Pensions and Other Post-Employment Benefits - Estimated Future Benefits Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure
2023	$ 7,565
2024	8,174
2025	8,880
2026	9,773
2027	10,638
2028 through 2032	56,634
Other Benefits
Defined Benefit Plan Disclosure
2023	767
2024	679
2025	608
2026	518
2027	478
2028 through 2032	1,815
Net of Medicare Part D Subsidy
Defined Benefit Plan Disclosure
2023	767
2024	679
2025	608
2026	518
2027	478
2028 through 2032	$ 1,815

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current year activity:
Beginning balance	$ 720,440	$ 655,630	$ 645,743
Other comprehensive income (loss) before reclassifications	331	2,728	3,584
Amounts reclassified from accumulated other comprehensive income	(166)	(2,682)	2,560
Other comprehensive income (loss) before tax	165	46	6,144
Deferred taxes on current period activity	1,905	1,576	(679)
Other comprehensive income (loss)	(1,740)	(1,530)	6,823
Ending balance	799,990	720,440	655,630
Gains and Losses On Cash Flow Hedges
Current year activity:
Beginning balance	2,420	817	897
Other comprehensive income (loss) before reclassifications	6,594	5,204	(2,725)
Amounts reclassified from accumulated other comprehensive income	(552)	(3,119)	2,617
Other comprehensive income (loss) before tax	6,042	2,085	(108)
Deferred taxes on current period activity	1,387	482	(28)
Other comprehensive income (loss)	4,655	1,603	(80)
Ending balance	7,075	2,420	817
Pension and Post- Employment Benefits
Current year activity:
Beginning balance	(39,702)	(43,473)	(41,346)
Other comprehensive income (loss) before reclassifications	(394)	4,428	(2,721)
Amounts reclassified from accumulated other comprehensive income	386	437	(57)
Other comprehensive income (loss) before tax	(8)	4,865	(2,778)
Deferred taxes on current period activity	518	1,094	(651)
Other comprehensive income (loss)	(526)	3,771	(2,127)
Ending balance	(40,228)	(39,702)	(43,473)
Foreign Currency Translation
Current year activity:
Beginning balance	(2,887)	4,017	(5,013)
Other comprehensive income (loss) before reclassifications	(5,869)	(6,904)	9,030
Amounts reclassified from accumulated other comprehensive income	0	0	0
Other comprehensive income (loss) before tax	(5,869)	(6,904)	9,030
Deferred taxes on current period activity	0	0	0
Other comprehensive income (loss)	(5,869)	(6,904)	9,030
Ending balance	(8,756)	(2,887)	4,017
Accumulated Other Comprehensive Income (Loss)
Current year activity:
Beginning balance	(40,169)	(38,639)	(45,462)
Ending balance	(41,909)	(40,169)	(38,639)
Foreign Currency | Gains and Losses On Cash Flow Hedges
Current year activity:
Beginning balance	2,348	519	1,324
Other comprehensive income (loss) before reclassifications	(1,260)	2,252	(1,268)
Amounts reclassified from accumulated other comprehensive income	(176)	123	222
Other comprehensive income (loss) before tax	(1,436)	2,375	(1,046)
Deferred taxes on current period activity	(331)	546	(241)
Other comprehensive income (loss)	(1,105)	1,829	(805)
Ending balance	1,243	2,348	519
Interest Rate | Gains and Losses On Cash Flow Hedges
Current year activity:
Beginning balance	0	0	0
Other comprehensive income (loss) before reclassifications	8,113	0	0
Amounts reclassified from accumulated other comprehensive income	(250)	0	0
Other comprehensive income (loss) before tax	7,863	0	0
Deferred taxes on current period activity	1,808	0	0
Other comprehensive income (loss)	6,055	0	0
Ending balance	6,055	0	0
Precious Metals | Gains and Losses On Cash Flow Hedges
Current year activity:
Beginning balance	72	(170)	(452)
Other comprehensive income (loss) before reclassifications	(259)	508	(1,675)
Amounts reclassified from accumulated other comprehensive income	(126)	(193)	2,041
Other comprehensive income (loss) before tax	(385)	315	366
Deferred taxes on current period activity	(90)	73	84
Other comprehensive income (loss)	(295)	242	282
Ending balance	(223)	72	(170)
Copper | Gains and Losses On Cash Flow Hedges
Current year activity:
Beginning balance	0	468	25
Other comprehensive income (loss) before reclassifications	0	2,444	218
Amounts reclassified from accumulated other comprehensive income	0	(3,049)	354
Other comprehensive income (loss) before tax	0	(605)	572
Deferred taxes on current period activity	0	(137)	129
Other comprehensive income (loss)	0	(468)	443
Ending balance	$ 0	$ 0	$ 468

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) plan $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Number of plans | plan	2
Stock-based compensation expense	$ 9,000	$ 7,300	$ 5,700
Income tax expense (benefit)	(17,110)	(4,851)	7,187
Total intrinsic value of stock options exercised	$ 2,100	1,600	500
Shares deferred (in shares) | shares	100,000
Equity securities
Share-based Compensation Arrangement by Share-based Payment Award
Income tax expense (benefit)	$ 1,000	900	500
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 900
Vesting period (in years)	3 years
Unearned compensation	$ 1,300
Expected recognition period (in months)	22 months
Vested in period	$ 900	$ 800	$ 1,500
Granted (in dollars per share) | $ / shares	$ 25.87	$ 20.66	$ 13.67
Granted (in shares) | shares	45,000
Stock appreciation rights | Granted in 2011 and later
Share-based Compensation Arrangement by Share-based Payment Award
Expiration period (in years)	7 years
Restricted stock units | Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 3,500	$ 3,500	$ 2,700
Vesting period (in years)	3 years
Unearned compensation	$ 5,500
Expected recognition period (in months)	23 months
Vested in period	$ 2,800	$ 2,000	$ 1,200
Granted (in dollars per share) | $ / shares	$ 80.96	$ 68.62	$ 51.55
Granted (in shares) | shares	61,000
Restricted stock units | Director Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 900	$ 800	$ 700
Vesting period (in years)	1 year
Unearned compensation	$ 300
Expected recognition period (in months)	4 months
Granted (in dollars per share) | $ / shares	$ 81.59	$ 75.77	$ 48.42
Granted (in shares) | shares	11,120	9,904	15,976
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 3,600	$ 2,200	$ 2,000
Vesting period (in years)	3 years
Granted (in dollars per share) | $ / shares	$ 95.44
Granted (in shares) | shares	38,000
Performance-based restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of units earned of units granted	0%
Performance-based restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of units earned of units granted	200%

Stock-based Compensation - SARs

Stock-based Compensation - SARs/Stock Options Roll Forward (Details) - Stock appreciation rights $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Number of SARs
Outstanding, beginning of period (in shares) | shares	260
Granted (in shares) | shares	45
Exercised (in shares) | shares	(49)
Cancelled (in shares) | shares	0
Outstanding, end of period (in shares) | shares	256
Vested and expected to vest (in shares) | shares	256
Exercisable (in shares) | shares	160
Weighted- average Exercise Price Per Share
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 51.55
Granted (in dollars per share) | $ / shares	80.85
Exercised (in dollars per share) | $ / shares	42.83
Cancelled (in dollars per share) | $ / shares	0
Outstanding, end of period (in dollars per share) | $ / shares	58.38
Vested and expected to vest (in dollars per share) | $ / shares	58.38
Exercisable (in dollars per share) | $ / shares	$ 50.56
Aggregate Intrinsic Value (thousands)
Outstanding at December 31, 2022 | $	$ 7,448
Vested and expected to vest as of December 31, 2022 | $	7,448
Exercisable at December 31, 2022 | $	$ 5,928
Weighted- average Remaining Term (Years)
Outstanding at December 31, 2021 (in years)	3 years 9 months 18 days
Vested and expected to vest as of December 31, 2021 (in years)	3 years 9 months 18 days
Exercisable at December 31, 2021 (in years)	2 years 9 months 18 days

Stock-based Compensation - SA_2

Stock-based Compensation - SARs/Stock Options Nonvested Share Activity (Details) - Stock appreciation rights - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of SARs
Outstanding, beginning of period (in shares)	100
Granted (in shares)	45
Vested (in shares)	(50)
Cancelled (in shares)	0
Outstanding, end of period (in shares)	95	100
Weighted- average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 17.98
Granted (in dollars per share)	25.87	$ 20.66	$ 13.67
Vested (in dollars per share)	17.47
Cancelled (in dollars per share)	0
Outstanding, end of period (in dollars per share)	$ 21.97	$ 17.98

Stock-based Compensation - SA_3

Stock-based Compensation - SARS/Stock Options, Valuation Assumptions (Details) - Stock appreciation rights	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Risk-free interest rate	1.56%	0.57%	1.41%
Dividend yield	0.60%	0.70%	0.90%
Volatility	38.50%	37.60%	31.80%
Expected lives (in years)	4 years 4 months 24 days	4 years 7 months 6 days	4 years 9 months 18 days

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Restricted Stock Activity (Details) - Stock Incentive Plan - Restricted stock units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding, beginning of period (in shares)	162
Granted (in shares)	61
Vested (in shares)	(49)
Forfeited (in shares)	(9)
Outstanding, end of period (in shares)	165	162
Weighted- average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 59.23
Granted (in dollars per share)	80.96	$ 68.62	$ 51.55
Vested (in dollars per share)	58.29
Forfeited (in dollars per share)	64.91
Outstanding, end of period (in dollars per share)	$ 67.31	$ 59.23

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Share-based Compensation, Performance Based Restricted Stock Unit Activity (Details) - Performance-based restricted stock units shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Shares
Outstanding, beginning of period (in shares) | shares	119
Granted (in shares) | shares	38
Vested (in shares) | shares	(43)
Forfeited (in shares) | shares	(3)
Outstanding, end of period (in shares) | shares	111
Weighted- Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 70.77
Granted (in dollars per share) | $ / shares	95.44
Vested (in dollars per share) | $ / shares	69.84
Forfeited (in dollars per share) | $ / shares	79.01
Outstanding, end of period (in dollars per share) | $ / shares	$ 79.31

Fair Value Information and De_3

Fair Value Information and Derivative Financial Instruments - Summary of Fair Value Information and Derivative Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	$ 12,273	$ 7,730
Financial Liabilities	5,169	4,406
Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	3,001	4,246
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	1,291	3,368
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	7,863
Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	118	116
Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	3,001	4,246
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	1,757	136
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0
Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	411	24
Level 1
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	3,001	4,246
Financial Liabilities	3,001	4,246
Level 1 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	3,001	4,246
Level 1 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 1 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets
Level 1 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 1 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	3,001	4,246
Level 1 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0	0
Level 1 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities
Level 1 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0	0
Level 2
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	9,272	3,484
Financial Liabilities	2,168	160
Level 2 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 2 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	1,291	3,368
Level 2 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	7,863
Level 2 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	118	116
Level 2 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0	0
Level 2 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	1,757	136
Level 2 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0
Level 2 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	411	24
Level 3
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Financial Liabilities	0	0
Level 3 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 3 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 3 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets
Level 3 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Assets	0	0
Level 3 | Deferred compensation investments
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0	0
Level 3 | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	0	0
Level 3 | Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities
Level 3 | Precious metal swaps
Derivative Instruments, Gain (Loss) [Line Items]
Financial Liabilities	$ 0	$ 0

Fair Value Information and De_4

Fair Value Information and Derivative Financial Instruments - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 04, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency gain (loss) related to derivatives	$ 200,000	$ 1,200,000
Total derivative ineffectiveness expense	0	0	$ 0
Total fair value of derivative contracts in AOCI	7,400,000	$ 1,300,000
Derivative, gain (loss) on derivative, net	3,900,000
Letter of Credit | Interest rate swap | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount				$ 100,000,000
Letter of Credit | Interest rate swap | Designated as Hedging Instrument | Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value of interest rate swap asset	$ 7,900,000

Fair Value Information and De_5

Fair Value Information and Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instrument - Foreign currency forward contracts - euro - Foreign currency forward contracts - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 12,242	$ 55,063
Derivative asset, fair value, gross asset	791	2,132
Other liabilities and accrued items
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount	17,061	9,425
Derivative liability, fair value, gross liability	$ 1,048	$ 128

Fair Value Information and De_6

Fair Value Information and Derivative Financial Instruments - Summary of the Notional Amount and the Fair Value of the Company's Outstanding Derivatives (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, notional amount	$ 137,455	$ 38,575
Precious metal swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, notional amount	8,758	6,256
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, notional amount	100,000
Prepaid expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	3,732	1,349
Prepaid expenses | Precious metal swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	118	116
Prepaid expenses | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	3,114
Other assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	4,749	2
Other assets | Precious metal swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	0	0
Other assets | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	4,749
Other liabilities and accrued items
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	957	24
Other liabilities and accrued items | Precious metal swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	411	24
Other liabilities and accrued items | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	0
Other long-term liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	163	8
Other long-term liabilities | Precious metal swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	0
Other long-term liabilities | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	0
Foreign currency forward contracts - yen | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, notional amount	2,985	3,907
Foreign currency forward contracts - yen | Prepaid expenses | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	145	131
Foreign currency forward contracts - yen | Other assets | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	0	2
Foreign currency forward contracts - yen | Other liabilities and accrued items | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	74	0
Foreign currency forward contracts - yen | Other long-term liabilities | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	26	0
Foreign currency forward contracts - euro | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, notional amount	25,712	28,412
Foreign currency forward contracts - euro | Prepaid expenses | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	355	1,102
Foreign currency forward contracts - euro | Other assets | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	0	0
Foreign currency forward contracts - euro | Other liabilities and accrued items | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	472	0
Foreign currency forward contracts - euro | Other long-term liabilities | Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value, gross liability	$ 137	$ 8

Fair Value Information and De_7

Fair Value Information and Derivative Financial Instruments - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (552)	$ (3,119)
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net sales	Net sales
Foreign currency forward contracts | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (176)	$ 123
Precious metal swaps | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(126)	(193)
Interest rate swap | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(250)	0
Copper swaps | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 0	$ (3,049)

Contingencies and Commitments -

Contingencies and Commitments - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) claim	Dec. 31, 2021 USD ($)
Contingencies And Commitments (Textual) [Abstract]
Number of cases pending	1
Number of cases resolved	1
Letter of Credit
Contingencies And Commitments (Textual) [Abstract]
Outstanding letters of credit | $	$ 46.5	$ 46.3

Contingencies and Commitments_2

Contingencies and Commitments - Undiscounted Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Undiscounted reserve
Reserve balance at beginning of year	$ 4,770	$ 5,476
Expensed	180	185
Paid	(480)	(891)
Reserve balance at end of year	4,470	4,770
Other liabilities and accrued items
Undiscounted reserve
Reserve balance at beginning of year	539
Reserve balance at end of year	$ 440	$ 539
Ending balance recorded in:
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Other long-term liabilities
Undiscounted reserve
Reserve balance at beginning of year	$ 4,231
Reserve balance at end of year	$ 4,030	$ 4,231
Ending balance recorded in:
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Contingencies and Commitments_3

Contingencies and Commitments - Schedule of Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation
Asset retirement obligation at beginning of period	$ 2,231	$ 1,765
Accretion expense	198	134
Change in liability	0	332
Asset retirement obligation at end of period	$ 2,429	$ 2,231

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deducted from asset accounts:
Valuation allowances reversal	$ 6,900
Balance sheet impact to deferred taxes	3,800
Valuation allowance on deferred tax assets:
Deducted from asset accounts:
Balance at Beginning of Period		$ 4,957	$ 14,134	$ 17,676
Charged to Costs and Expenses		373	497	884
Charged to Other Accounts		0	1,019	0
Deductions		(395)	(10,693)	(4,426)
Balance at End of Period	$ 4,957	$ 4,935	$ 4,957	$ 14,134