Vishay Precision (VPG) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 28, 2015	6-May-15
Entity Registrant Name	Vishay Precision Group, Inc.
Entity Central Index Key	1487952
Current Fiscal Year End Date	-19
Trading Symbol	VPG
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	28-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Common Stock
Entity Common Stock, Shares Outstanding		12,596,340
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,025,158

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (Unaudited) (USD $)	Mar. 28, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$70,212	$79,642
Accounts receivable, net	36,707	37,514
Inventories:
Raw materials	14,737	15,017
Work in process	21,710	20,498
Finished goods	19,196	18,798
Inventories, net	55,643	54,313
Deferred income taxes	5,024	5,003
Prepaid expenses and other current assets	11,239	10,566
Total current assets	178,825	187,038
Property and equipment, at cost:
Land	1,845	1,893
Buildings and improvements	49,813	50,266
Machinery and equipment	79,797	79,109
Software	6,855	6,837
Construction in progress	2,536	3,786
Accumulated depreciation	-90,911	-89,909
Property and equipment, net	49,935	51,982
Goodwill	11,890	12,788
Intangible assets, net	15,856	17,489
Other assets	20,659	20,590
Total assets	277,165	289,887
Liabilities and equity
Trade accounts payable	10,298	10,371
Payroll and related expenses	14,302	14,252
Other accrued expenses	13,338	16,590
Income taxes	387	2,197
Current portion of long-term debt	5,370	5,120
Total current liabilities	43,695	48,530
Long-term debt, less current portion	16,185	17,713
Deferred income taxes	643	1,756
Other liabilities	7,288	7,658
Accrued pension and other postretirement costs	12,727	13,072
Total liabilities	80,538	88,729
Commitments and contingencies
Equity:
Common stock	1,275	1,273
Capital in excess of par value	189,621	189,532
Retained earnings	37,196	36,500
Accumulated other comprehensive loss	-30,510	-26,452
Total Vishay Precision Group, Inc. stockholders' equity	196,422	200,924
Noncontrolling interests	205	234
Total equity	196,627	201,158
Total liabilities and equity	277,165	289,887
Class B Convertible Common Stock
Equity:
Common stock	103	103
Treasury Stock
Equity:
Treasury stock	-1,263	-32
Total equity	($1,263)	($32)

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Income Statement [Abstract]
Net revenues	$56,608	$61,041
Costs of products sold	35,829	38,994
Gross profit	20,779	22,047
Selling, general, and administrative expenses	18,733	18,700
Restructuring costs	78	324
Operating income	1,968	3,023
Other income (expense):
Interest expense	-184	-212
Other	-958	-542
Other income (expense) - net	-1,142	-754
Income before taxes	826	2,269
Income tax expense	143	496
Net earnings	683	1,773
Less: net (loss) earnings attributable to noncontrolling interests	-13	67
Net earnings attributable to VPG stockholders	$696	$1,706
Basic earnings per share attributable to VPG stockholders (dollars per share)	$0.05	$0.12
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$0.05	$0.12
Weighted average shares outstanding - basic	13,746	13,752
Weighted average shares outstanding - diluted	13,960	13,958

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$683	$1,773
Other comprehensive income (loss):
Foreign currency translation adjustment	-4,287	-224
Pension and other postretirement actuarial items, net of tax	229	5
Other comprehensive loss	-4,058	-219
Total comprehensive (loss) income	-3,375	1,554
Less: comprehensive (loss) income attributable to noncontrolling interests	-13	67
Comprehensive (loss) income attributable to VPG stockholders	($3,362)	$1,487

Consolidated_Condensed_Stateme2

Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Operating activities
Net earnings	$683	$1,773
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	2,756	2,849
Loss (gain) on disposal of property and equipment	2	-3
Share-based compensation expense	267	222
Inventory write-offs for obsolescence	480	438
Other	-291	486
Net changes in operating assets and liabilities:
Accounts receivable	-459	-1,506
Inventories	-2,684	-286
Prepaid expenses and other current assets	-706	-316
Trade accounts payable	121	237
Other current liabilities	-3,566	-1,855
Net cash (used in) provided by operating activities	-3,397	2,039
Investing activities
Capital expenditures	-1,782	-1,878
Proceeds from sale of property and equipment	0	3
Net cash used in investing activities	-1,782	-1,875
Financing activities
Principal payments on long-term debt and capital leases	-1,280	-1,035
Purchase of treasury stock	-1,231	0
Distributions to noncontrolling interests	-16	-18
Net cash used in financing activities	-2,527	-1,053
Effect of exchange rate changes on cash and cash equivalents	-1,724	145
Decrease in cash and cash equivalents	-9,430	-744
Cash and cash equivalents at beginning of period	79,642	72,785
Cash and cash equivalents at end of period	$70,212	$72,041

Consolidated_Condensed_Stateme3

Consolidated Condensed Statement of Equity (Unaudited) (USD $)	Total	Common Stock	Class B Convertible Common Stock	Treasury Stock	Capital In Excess Of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total VPG Inc. Stockholders' Equity	Noncontrolling Interests
In Thousands, unless otherwise specified
Balance, beginning at Dec. 31, 2014	$201,158	$1,273	$103	($32)	$189,532	$36,500	($26,452)	$200,924	$234
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	683					696		696	-13
Other comprehensive loss	-4,058						-4,058	-4,058
Share-based compensation expense	267				267			267
Restricted stock issuances (21,062 shares)	-176	2			-178			-176
Purchase of treasury stock (80,429 shares)	-1,231			-1,231				-1,231
Conversion from Class B to common stock (18 shares)	0
Distributions to noncontrolling interests	-16								-16
Balance, ending at Mar. 28, 2015	$196,627	$1,275	$103	($1,263)	$189,621	$37,196	($30,510)	$196,422	$205

Consolidated_Condensed_Stateme4

Consolidated Condensed Statement of Equity (Unaudited) (Parenthetical)	3 Months Ended
	Mar. 28, 2015
Purchase of treasury stock, shares	80,429
Common Stock
Restricted stock issuances, shares	21,062
Class B Convertible Common Stock
Conversion from Class B to common stock (in shares)	18

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	Background
	Vishay Precision Group, Inc. (“VPG” or the “Company”) is an internationally recognized designer, manufacturer and marketer of sensors, and sensor-based measurement systems, as well as specialty resistors and strain gages based upon the Company's proprietary technology. The Company provides precision products and solutions, many of which are “designed-in” by its customers, specializing in the growing markets of stress, force, weight, pressure, and current measurements.
	Interim Financial Statements
	These unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements and therefore do not include all information and footnotes necessary for the presentation of financial position, results of operations, and cash flows required by accounting principles generally accepted in the United States for complete financial statements. The information furnished reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair summary of the financial position, results of operations, and cash flows for the interim periods presented. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of December 31, 2014 and 2013 and for each of the three years in the period ended December 31, 2014, included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, filed with the SEC on March 11, 2015. The results of operations for the fiscal quarter ended March 28, 2015 are not necessarily indicative of the results to be expected for the full year.
	VPG reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first quarter, which always begins on January 1, and the fourth quarter, which always ends on December 31. The four fiscal quarters in 2015 and 2014 end on the following dates:
		2015	2014
	Quarter 1	March 28,	March 29,
	Quarter 2	June 27,	June 28,
	Quarter 3	September 26,	September 27,
	Quarter 4	December 31,	December 31,
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance.  The basis of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The ASU is effective for public entities for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted under GAAP, and either full or modified retrospective application is required. The Company has not yet selected a transition method and the effects of this standard on the Company's financial position, results of operations and cash flows are not yet known.
	In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." This standard update requires an entity to present debt issuance costs on the balance sheet as a direct deduction from the related debt liability as opposed to an asset. Amortization of the costs will continue to be reported as interest expense. The update is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued, and the new guidance would be applied retrospectively to all prior periods presented. The adoption of this standard update is not expected to have a material impact on our consolidated financial statements.

Restructuring_Costs

Restructuring Costs	3 Months Ended
	Mar. 28, 2015
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs
	Restructuring costs reflect the cost reduction programs implemented by the Company. Restructuring costs are expensed during the period in which the Company determines it will incur those costs and all requirements for accrual are met. Because these costs are recorded based upon estimates, actual expenditures for the restructuring activities may differ from the initially recorded costs. If the initial estimates are too low or too high, the Company could be required to either record additional expense in future periods or to reverse part of the previously recorded charges.
	2015 Program
	The Company recorded restructuring costs of $0.1 million during the fiscal quarter ended March 28, 2015. These costs were comprised of employee termination costs, including severance, at one of the Company's subsidiaries in the United Kingdom, and were incurred in connection with a cost reduction program. The restructuring costs were fully paid in the first quarter of 2015.
	2014 Programs
	The Company recorded restructuring costs of $0.7 million during the year ended December 31, 2014. This included two cost reduction programs implemented by the Company.
	Restructuring costs of $0.5 million were comprised of employee termination costs, including severance and a statutory retirement allowance, at the Company's subsidiary in Canada, and were incurred in connection with a cost reduction program. The restructuring costs were fully paid in the first quarter of 2015.
	Restructuring costs of $0.2 million were comprised of employee termination costs, including severance, at one of the Company’s subsidiaries in the United States, and were incurred in connection with a cost reduction program. As of March 28, 2015, $0.1 million of the restructuring costs have been paid. The remaining costs are recorded within other accrued expenses on the accompanying consolidated condensed balance sheet, and are expected to be paid during the third quarter of 2015.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 28, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	VPG calculates the tax provision for interim periods using an estimated annual effective tax rate methodology which is based on a current projection of full-year earnings before taxes amongst different taxing jurisdictions and adjusted for the impact of discrete quarterly items. The effective tax rate for the fiscal quarter ended March 28, 2015 was 17.3% versus 21.9% for the fiscal quarter ended March 29, 2014. The primary change in the effective tax rate for both periods presented is the result of changes in the geographic mix of pretax earnings, and the recording of net tax benefits associated with foreign exchange variations.
	The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the fiscal quarters ended March 28, 2015 and March 29, 2014 reflect VPG’s expected tax rate on reported income before income tax and tax adjustments. VPG operates in an international environment with significant operations in various locations outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting VPG’s earnings and the applicable tax rates in the various locations in which VPG operates.
	The Company and its subsidiaries are subject to income taxes in the U.S. and numerous foreign jurisdictions. Significant judgment is required in evaluating the Company’s tax positions and determining the provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. VPG establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves are established when VPG believes that certain positions might be challenged despite its belief that the tax return positions are supportable. VPG adjusts these reserves in light of changing facts and circumstances and the provision for income taxes includes the impact of reserve provisions and changes to reserves that are considered appropriate. Penalties and tax-related interest expense are reported as a component of income tax expense. The Company anticipates $0.5 million to $0.8 million of unrecognized tax benefits to be reversed within the next twelve months of the balance sheet date, due to the expiration of statutes of limitation and a cash payment in certain jurisdictions.

LongTerm_Debt

Long-Term Debt	3 Months Ended
	Mar. 28, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt
	Long-term debt consists of the following (in thousands):
		28-Mar-15		31-Dec-14
	2013 Credit Agreement - U.S. term facility	$	5,500	$	6,000
	2013 Credit Agreement - Canadian term facility	11,250		12,000
	Exchangeable unsecured notes, due 2102	4,097		4,097
	Other debt	708		736
		21,555		22,833
	Less: current portion	5,370		5,120
		$	16,185	$	17,713

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 28, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)
	The components of accumulated other comprehensive income (loss), net of tax, consist of the following (in thousands):
		Foreign Currency Translation Adjustment			Pension			Total
					and Other
					Postretirement
					Actuarial Items
	Balance at January 1, 2015	$	(21,648	)	$	(4,804	)	$	(26,452	)
	Other comprehensive loss before reclassifications	(4,287		)	—			(4,287		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			229			229
	Balance at March 28, 2015	$	(25,935	)	$	(4,575	)	$	(30,510	)
		Foreign Currency Translation Adjustment			Pension			Total
					and Other
					Postretirement
					Actuarial Items
	Balance at January 1, 2014	$	(16,761	)	$	(2,266	)	$	(19,027	)
	Other comprehensive loss before reclassifications	(224		)	—			(224		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			5			5
	Balance at March 29, 2014	$	(16,985	)	$	(2,261	)	$	(19,246	)
	Reclassifications of pension and other postretirement actuarial items out of accumulated other comprehensive income (loss) are included in the computation of net periodic benefit cost (see Note 6).

Pensions_and_Other_Postretirem

Pensions and Other Postretirement Benefits	3 Months Ended
	Mar. 28, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits
	Employees of VPG participate in various defined benefit pension and other postretirement benefit ("OPEB") plans.
	The following table sets forth the components of the net periodic benefit cost for the Company's defined benefit pension and other postretirement benefit plans (in thousands):
		Fiscal quarter ended					Fiscal quarter ended
		March 28, 2015					March 29, 2014
		Pension			OPEB		Pension			OPEB
		Plans			Plans		Plans			Plans
	Net service cost	$	103		$	19	$	105		$	21
	Interest cost	213			30		235			31
	Expected return on plan assets	(163		)	—		(198		)	—
	Amortization of actuarial losses	58			19		7			9
	Net periodic benefit cost	$	211		$	68	$	149		$	61

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 28, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation
	The Amended and Restated Vishay Precision Group, Inc. Stock Incentive Program (as amended and restated, the “Plan”) permits the issuance of up to 1,000,000 shares of common stock. At March 28, 2015, the Company had reserved 519,809 shares of common stock for future grant of equity awards (restricted stock, unrestricted stock, restricted stock units ("RSUs"), or stock options) pursuant to the Plan. If any outstanding awards are forfeited by the holder or canceled by the Company, the underlying shares would be available for regrant to others.
	On January 20, 2015, VPG’s three executive officers were granted annual equity awards in the form of RSUs, of which 75% are performance-based. The awards have an aggregate grant-date fair value of $1.0 million and were comprised of 59,325 RSUs as determined using the average of the closing stock prices of the Company's common stock for the last five trading days immediately preceding January 1, 2015. Twenty-five percent of these awards will vest on January 1, 2018, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2018, subject to the satisfaction of certain performance objectives relating to three-year cumulative “free cash” and net earnings goals and their continued employment.
	The amount of compensation cost related to share-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. VPG determines compensation cost for RSUs based on the grant-date fair value of the underlying common stock. The Company recognizes compensation cost for RSUs that are expected to vest and for which performance criteria are expected to be met. The following table summarizes share-based compensation expense recognized (in thousands):
		Fiscal quarter ended
		March 28, 2015		March 29, 2014
	Restricted stock units	$	267	$	222

Segment_Information

Segment Information	3 Months Ended
	Mar. 28, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information
	VPG reports in three product segments: the Foil Technology Products segment, the Force Sensors segment, and the Weighing and Control Systems segment. The Foil Technology Products reporting segment is comprised of the foil resistor and strain gage operating segments. The Force Sensors reporting segment is comprised of transducers, load cells and modules. The Weighing and Control Systems reporting segment is comprised of instruments, complete systems for process control, and on-board weighing applications.
	VPG evaluates reporting segment performance based on multiple performance measures including revenues, gross profits and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring costs, acquisition costs, and other items is meaningful because it provides insight with respect to the intrinsic operating results of VPG. The following table sets forth reporting segment information (in thousands):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Net third-party revenues:
	Foil Technology Products	$	25,061		$	26,007
	Force Sensors	15,237			16,432
	Weighing and Control Systems	16,310			18,602
	Total	$	56,608		$	61,041
	Gross profit:
	Foil Technology Products	$	10,164		$	9,856
	Force Sensors	3,335			3,507
	Weighing and Control Systems	7,280			8,684
	Total	$	20,779		$	22,047
	Reconciliation of segment operating income to consolidated results:
	Foil Technology Products	$	5,943		$	5,200
	Force Sensors	914			1,141
	Weighing and Control Systems	1,981			3,025
	Unallocated G&A expenses	(6,792		)	(6,019		)
	Restructuring costs	(78		)	(324		)
	Consolidated condensed operating income	$	1,968		$	3,023
	Restructuring costs:
	Weighing and Control Systems	$	78		$	324
	Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. Intersegment sales from the Foil Technology Products segment to the Force Sensors segment and Weighing and Control Systems segment were $1.0 million and $0.5 million during the fiscal quarters ended March 28, 2015 and March 29, 2014, respectively. Intersegment sales from the Force Sensors segment to the Foil Technology Products segment and Weighing and Control Systems segment were $0.4 million and $0.4 million during the fiscal quarters ended March 28, 2015 and March 29, 2014, respectively. Intersegment sales from the Weighing and Control Systems segment to the Force Sensors segment were $0.2 million and $0.3 million during the fiscal quarters ended March 28, 2015 and March 29, 2014, respectively.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 28, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share
	The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Numerator:
	Numerator for basic earnings per share:
	Net earnings attributable to VPG stockholders	$	696		$	1,706
	Adjustment to the numerator for net earnings:
	Interest savings assuming conversion of dilutive exchangeable notes, net of tax	2			2
	Numerator for diluted earnings per share:
	Net earnings attributable to VPG stockholders	$	698		$	1,708
	Denominator:
	Denominator for basic earnings per share:
	Weighted average shares	13,746			13,752
	Effect of dilutive securities:
	Exchangeable notes	181			181
	Employee stock options	—			1
	Restricted stock units	33			24
	Dilutive potential common shares	214			206
	Denominator for diluted earnings per share:
	Adjusted weighted average shares	13,960			13,958
	Basic earnings per share attributable to VPG stockholders	$	0.05		$	0.12
	Diluted earnings per share attributable to VPG stockholders	$	0.05		$	0.12
	Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares, as the effect would be antidilutive (in thousands):
		Fiscal quarter ended
		March 28, 2015		March 29, 2014
	Weighted average employee stock options	18		23

Additional_Financial_Statement

Additional Financial Statement Information	3 Months Ended
	Mar. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Statement Information	Note 10 – Additional Financial Statement Information
	The caption “other” on the consolidated condensed statements of operations consists of the following (in thousands):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Foreign exchange loss	$	(988	)	$	(531	)
	Interest income	55			38
	Other	(25		)	(49		)
		$	(958	)	$	(542	)

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 28, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements
	Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement, establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
	Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.
	Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
	Level 3: Unobservable inputs that reflect the Company’s own assumptions.
	An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.
	The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis (in thousands):
				Fair value measurements at reporting date using:
		Total		Level 1		Level 2		Level 3
		Fair Value		Inputs		Inputs		Inputs
	March 28, 2015
	Assets
	Assets held in rabbi trusts	$	4,643	$	776	$	3,867	$	—
	December 31, 2014
	Assets
	Assets held in rabbi trusts	$	4,725	$	915	$	3,810	$	—
	The Company maintains non-qualified trusts, referred to as “rabbi” trusts, to fund payments under deferred compensation and non-qualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale money market funds at March 28, 2015 and December 31, 2014, and company-owned life insurance assets. The marketable securities held in the rabbi trusts are valued using quoted market prices on the last business day of the period. The company-owned life insurance assets are valued in consultation with the Company’s insurance brokers using the value of underlying assets of the insurance contracts. The fair value measurement of the marketable securities held in the rabbi trust is considered a Level 1 measurement and the measurement of the company-owned life insurance assets is considered a Level 2 measurement within the fair value hierarchy.
	The fair value of the long-term debt at March 28, 2015 and December 31, 2014 is approximately $20.1 million and $21.7 million, respectively, compared to its carrying value of $21.6 million and $22.8 million, respectively. The Company estimates the fair value of its long-term debt using a combination of quoted market prices for similar financing arrangements and expected future payments discounted at risk-adjusted rates. The fair value of long-term debt is considered a Level 2 measurement within the fair value hierarchy.
	The Company’s financial instruments include cash and cash equivalents whose carrying amounts reported in the consolidated condensed balance sheets approximate their fair values.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 28, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	RSU grant
	On March 30, 2015, certain VPG employees were granted annual equity awards in the form of RSUs, of which 75% are performance-based. The awards have an aggregate target grant-date fair value of $0.3 million and were comprised of 21,743 RSUs. Twenty-five percent of these awards will vest on January 1, 2018 subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2018, subject to the satisfaction of certain performance objectives relating to three-year cumulative earnings goals and cash flow goals and their continued employment.
	Stock Repurchase
	In accordance with its stock repurchase plan, the Company has repurchased an additional 74,148 shares of its common stock from March 29, 2015 through May 6, 2015.

Basis_of_Presentation_Tables

Basis of Presentation (Tables)	3 Months Ended
	Mar. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Fiscal Quarters	The four fiscal quarters in 2015 and 2014 end on the following dates:
		2015	2014
	Quarter 1	March 28,	March 29,
	Quarter 2	June 27,	June 28,
	Quarter 3	September 26,	September 27,
	Quarter 4	December 31,	December 31,

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
	Mar. 28, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands):
		28-Mar-15		31-Dec-14
	2013 Credit Agreement - U.S. term facility	$	5,500	$	6,000
	2013 Credit Agreement - Canadian term facility	11,250		12,000
	Exchangeable unsecured notes, due 2102	4,097		4,097
	Other debt	708		736
		21,555		22,833
	Less: current portion	5,370		5,120
		$	16,185	$	17,713

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 28, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss), net of tax, consist of the following (in thousands):
		Foreign Currency Translation Adjustment			Pension			Total
					and Other
					Postretirement
					Actuarial Items
	Balance at January 1, 2015	$	(21,648	)	$	(4,804	)	$	(26,452	)
	Other comprehensive loss before reclassifications	(4,287		)	—			(4,287		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			229			229
	Balance at March 28, 2015	$	(25,935	)	$	(4,575	)	$	(30,510	)
		Foreign Currency Translation Adjustment			Pension			Total
					and Other
					Postretirement
					Actuarial Items
	Balance at January 1, 2014	$	(16,761	)	$	(2,266	)	$	(19,027	)
	Other comprehensive loss before reclassifications	(224		)	—			(224		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			5			5
	Balance at March 29, 2014	$	(16,985	)	$	(2,261	)	$	(19,246	)

Pensions_and_Other_Postretirem1

Pensions and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 28, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Pension and Other Retirement Plan Costs	The following table sets forth the components of the net periodic benefit cost for the Company's defined benefit pension and other postretirement benefit plans (in thousands):
		Fiscal quarter ended					Fiscal quarter ended
		March 28, 2015					March 29, 2014
		Pension			OPEB		Pension			OPEB
		Plans			Plans		Plans			Plans
	Net service cost	$	103		$	19	$	105		$	21
	Interest cost	213			30		235			31
	Expected return on plan assets	(163		)	—		(198		)	—
	Amortization of actuarial losses	58			19		7			9
	Net periodic benefit cost	$	211		$	68	$	149		$	61

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 28, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation Expense	The following table summarizes share-based compensation expense recognized (in thousands):
		Fiscal quarter ended
		March 28, 2015		March 29, 2014
	Restricted stock units	$	267	$	222

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 28, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Net third-party revenues:
	Foil Technology Products	$	25,061		$	26,007
	Force Sensors	15,237			16,432
	Weighing and Control Systems	16,310			18,602
	Total	$	56,608		$	61,041
	Gross profit:
	Foil Technology Products	$	10,164		$	9,856
	Force Sensors	3,335			3,507
	Weighing and Control Systems	7,280			8,684
	Total	$	20,779		$	22,047
	Reconciliation of segment operating income to consolidated results:
	Foil Technology Products	$	5,943		$	5,200
	Force Sensors	914			1,141
	Weighing and Control Systems	1,981			3,025
	Unallocated G&A expenses	(6,792		)	(6,019		)
	Restructuring costs	(78		)	(324		)
	Consolidated condensed operating income	$	1,968		$	3,023
	Restructuring costs:
	Weighing and Control Systems	$	78		$	324

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 28, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Numerator:
	Numerator for basic earnings per share:
	Net earnings attributable to VPG stockholders	$	696		$	1,706
	Adjustment to the numerator for net earnings:
	Interest savings assuming conversion of dilutive exchangeable notes, net of tax	2			2
	Numerator for diluted earnings per share:
	Net earnings attributable to VPG stockholders	$	698		$	1,708
	Denominator:
	Denominator for basic earnings per share:
	Weighted average shares	13,746			13,752
	Effect of dilutive securities:
	Exchangeable notes	181			181
	Employee stock options	—			1
	Restricted stock units	33			24
	Dilutive potential common shares	214			206
	Denominator for diluted earnings per share:
	Adjusted weighted average shares	13,960			13,958
	Basic earnings per share attributable to VPG stockholders	$	0.05		$	0.12
	Diluted earnings per share attributable to VPG stockholders	$	0.05		$	0.12
Schedule of Antidilutive Effects	Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares, as the effect would be antidilutive (in thousands):
		Fiscal quarter ended
		March 28, 2015		March 29, 2014
	Weighted average employee stock options	18		23

Additional_Financial_Statement1

Additional Financial Statement Information (Tables)	3 Months Ended
	Mar. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Income in Operations	The caption “other” on the consolidated condensed statements of operations consists of the following (in thousands):
		Fiscal quarter ended
		March 28, 2015			March 29, 2014
	Foreign exchange loss	$	(988	)	$	(531	)
	Interest income	55			38
	Other	(25		)	(49		)
		$	(958	)	$	(542	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 28, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities at Fair Value, Recurring	The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis (in thousands):
				Fair value measurements at reporting date using:
		Total		Level 1		Level 2		Level 3
		Fair Value		Inputs		Inputs		Inputs
	March 28, 2015
	Assets
	Assets held in rabbi trusts	$	4,643	$	776	$	3,867	$	—
	December 31, 2014
	Assets
	Assets held in rabbi trusts	$	4,725	$	915	$	3,810	$	—

Restructuring_Costs_Details

Restructuring Costs (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 28, 2015	Mar. 29, 2014	Dec. 31, 2014
			program
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$78,000	$324,000
Restructuring costs paid			700,000
Number of programs implemented			2
CANADA | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs			500,000
UNITED STATES | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs			200,000
Restructuring costs paid	$100,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	17.30%	21.90%
Anticipated change in unrecognized tax benefits, lower bound	$500,000
Anticipated change in unrecognized tax benefits, upper bound	$800,000

LongTerm_Debt_Schedule_of_Long

Long-Term Debt (Schedule of Long-term Debt) (Details) (USD $)	Mar. 28, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Exchangeable unsecured notes, due 2102	$4,097	$4,097
Other debt	708	736
Long-Term Debt	21,555	22,833
Less: current portion	5,370	5,120
Long-term debt, less current portion	16,185	17,713
2013 credit agreement - U.S. term facility
Debt Instrument [Line Items]
Secured debt	5,500	6,000
2013 credit agreement - Canadian term facility
Debt Instrument [Line Items]
Secured debt	$11,250	$12,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	($26,452)	($19,027)
Other comprehensive loss before reclassifications	-4,287	-224
Amounts reclassified from accumulated other comprehensive income (loss)	229	5
Balance, ending	-30,510	-19,246
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	-21,648	-16,761
Other comprehensive loss before reclassifications	-4,287	-224
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	-25,935	-16,985
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	-4,804	-2,266
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	229	5
Balance, ending	($4,575)	($2,261)

Pensions_and_Other_Postretirem2

Pensions and Other Postretirement Benefits (Schedule of Net Pension and Other Retirement Plan Costs) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$103	$105
Interest cost	213	235
Expected return on plan assets	-163	-198
Amortization of actuarial losses	58	7
Net periodic benefit cost	211	149
Other Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net service cost	19	21
Interest cost	30	31
Expected return on plan assets	0	0
Amortization of actuarial losses	19	9
Net periodic benefit cost	$68	$61

ShareBased_Compensation_Narrat

Share-Based Compensation (Narrative) (Details) (USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Jan. 20, 2015	Mar. 28, 2015
	people
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized		1,000,000
Number of shares available for grant		519,809
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of people granted awards	3
Percentage of performance based units on total units approved	75.00%
Weighted average grant date fair value	$1
Number of RSUs Granted	59,325
Number of trading days used in grant date fair value calculation	5 days
Share-based compensation arrangement bye share-based payment award, award vesting period	3 years
Vesting on January 1, 2018 | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (percentage)	25.00%

ShareBased_Compensation_Schedu

Share-Based Compensation (Schedule of Share-based Compensation Expense) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted stock units	$267	$222

Segment_Information_Schedule_o

Segment Information (Schedule of Segment Reporting) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Segment Reporting Information [Line Items]
Net third-party revenues	$56,608	$61,041
Gross profit	20,779	22,047
Segment operating income (loss)	1,968	3,023
Unallocated G&A expenses	-6,792	-6,019
Restructuring costs	-78	-324
Foil Technology Products
Segment Reporting Information [Line Items]
Net third-party revenues	25,061	26,007
Gross profit	10,164	9,856
Segment operating income (loss)	5,943	5,200
Force Sensors
Segment Reporting Information [Line Items]
Net third-party revenues	15,237	16,432
Gross profit	3,335	3,507
Segment operating income (loss)	914	1,141
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net third-party revenues	16,310	18,602
Gross profit	7,280	8,684
Segment operating income (loss)	1,981	3,025
Restructuring costs	($78)	($324)

Segment_Information_Narrative_

Segment Information (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
	segment
Segment Reporting Information [Line Items]
Number of reportable segments	3
Net revenues	$56,608	$61,041
Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	25,061	26,007
Foil Technology Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	1,000	500
Force Sensors
Segment Reporting Information [Line Items]
Net revenues	15,237	16,432
Force Sensors | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	400	400
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	16,310	18,602
Weighing and Control Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	$200	$300

Earnings_Per_Share_Computation

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Numerator:
Net earnings attributable to VPG stockholders	$696	$1,706
Adjustment to the numerator for net earnings:
Interest savings assuming conversion of dilutive exchangeable notes, net of tax	2	2
Numerator for diluted earnings per share:
Net earnings attributable to VPG stockholders	$698	$1,708
Denominator:
Weighted average shares	13,746	13,752
Effect of dilutive securities:
Exchangeable notes	181	181
Employee stock options	0	1
Restricted stock units	33	24
Dilutive potential common shares	214	206
Denominator for diluted earnings per share:
Adjusted weighted average shares	13,960	13,958
Basic earnings per share attributable to VPG stockholders (dollars per share)	$0.05	$0.12
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$0.05	$0.12

Earnings_Per_Share_Schedule_of

Earnings Per Share (Schedule of Antidilutive Effects) (Details) (Stock Options)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average employee stock options	18	23

Additional_Financial_Statement2

Additional Financial Statement Information (Schedule of Other Items in Operations) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 28, 2015	Mar. 29, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange loss	($988)	($531)
Interest income	55	38
Other	-25	-49
Other Nonoperating Income (Expense)	($958)	($542)

Fair_Value_Measurements_Schedu

Fair Value Measurements (Schedule of Assets and Liabilities at Fair Value, Recurring) (Details) (Fair Value, Measurements, Recurring, USD $)	Mar. 28, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$4,643	$4,725
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	776	915
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	3,867	3,810
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$0	$0

Fair_Value_Measurements_Narrat

Fair Value Measurements (Narrative) (Details) (USD $)	Mar. 28, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$20,100,000	$21,700,000
Long-term debt, carrying value	$21,555,000	$22,833,000

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended	1 Months Ended	0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 28, 2015	6-May-15	Jan. 20, 2015	Mar. 30, 2015
Subsequent Event [Line Items]
Purchase of treasury stock, shares	80,429
Subsequent Event
Subsequent Event [Line Items]
Purchase of treasury stock, shares		74,148
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Percentage of performance based units on total units approved			75.00%
Weighted average grant date fair value			$1
Number of RSUs Granted			59,325
Share-based compensation arrangement bye share-based payment award, award vesting period			3 years
Restricted Stock Units (RSUs) | Subsequent Event
Subsequent Event [Line Items]
Percentage of performance based units on total units approved				75.00%
Weighted average grant date fair value				$0.30
Number of RSUs Granted				21,743
Share-based compensation arrangement bye share-based payment award, award vesting period				3 years
Vesting on January 1, 2018 | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Award vesting rights (percentage)			25.00%
Vesting on January 1, 2018 | Restricted Stock Units (RSUs) | Subsequent Event
Subsequent Event [Line Items]
Award vesting rights (percentage)				25.00%