Vishay Precision (VPG) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 01, 2017	May 09, 2017
Entity Registrant Name	Vishay Precision Group, Inc.
Entity Central Index Key	1,487,952
Current Fiscal Year End Date	--04-01
Trading Symbol	VPG
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 1, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,192,500
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,025,158

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 59,251	$ 58,452
Accounts receivable, net	38,141	34,270
Inventories:
Raw materials	16,489	15,647
Work in process	20,227	21,115
Finished goods	19,307	19,559
Inventories, net	56,023	56,321
Prepaid expenses and other current assets	8,997	6,831
Total current assets	162,412	155,874
Property and equipment, at cost:
Land	3,365	3,344
Buildings and improvements	48,810	48,454
Machinery and equipment	91,063	89,080
Software	7,548	7,441
Construction in progress	2,910	4,340
Accumulated depreciation	(98,389)	(97,374)
Property and equipment, net	55,307	55,285
Goodwill	18,785	18,717
Intangible assets, net	21,259	21,585
Other assets	19,616	19,049
Total assets	277,379	270,510
Liabilities and equity
Trade accounts payable	9,754	8,264
Payroll and related expenses	13,568	11,978
Other accrued expenses	13,350	13,285
Income taxes	1,041	772
Current portion of long-term debt	2,742	2,623
Total current liabilities	40,455	36,922
Long-term debt, less current portion	32,806	33,529
Deferred income taxes	805	735
Other liabilities	13,453	13,054
Accrued pension and other postretirement costs	14,794	14,713
Total liabilities	102,313	98,953
Commitments and contingencies
Equity:
Common stock	1,281	1,278
Treasury stock	(8,765)	(8,765)
Capital in excess of par value	190,353	190,373
Retained earnings	30,726	28,731
Accumulated other comprehensive loss	(38,812)	(40,337)
Total Vishay Precision Group, Inc. stockholders' equity	174,886	171,383
Noncontrolling interests	180	174
Total equity	175,066	171,557
Total liabilities and equity	277,379	270,510
Class B Convertible Common Stock
Equity:
Common stock	$ 103	$ 103

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Income Statement [Abstract]
Net revenues	$ 59,787	$ 56,629
Costs of products sold	37,270	36,854
Gross profit	22,517	19,775
Selling, general, and administrative expenses	18,226	18,048
Acquisition costs	0	62
Restructuring costs	554	675
Operating income	3,737	990
Other income (expense):
Interest expense	(452)	(328)
Other	(321)	425
Other income (expense) - net	(773)	97
Income before taxes	2,964	1,087
Income tax expense	961	591
Net earnings	2,003	496
Less: net earnings attributable to noncontrolling interests	8	16
Net earnings attributable to VPG stockholders	$ 1,995	$ 480
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.15	$ 0.04
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.15	$ 0.04
Weighted average shares outstanding - basic	13,210	13,178
Weighted average shares outstanding - diluted	13,438	13,399

Consolidated Condensed Stateme4

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 2,003	$ 496
Other comprehensive income (loss):
Foreign currency translation adjustment	1,489	1,871
Pension and other postretirement actuarial items, net of tax	36	132
Other comprehensive income (loss)	1,525	2,003
Total comprehensive income	3,528	2,499
Less: comprehensive income attributable to noncontrolling interests	8	16
Comprehensive income attributable to VPG stockholders	$ 3,520	$ 2,483

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Operating activities
Net earnings	$ 2,003	$ 496
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	2,681	2,746
(Gain) loss on disposal of property and equipment	(109)	(15)
Share-based compensation expense	243	356
Inventory write-offs for obsolescence	297	363
Deferred income taxes	(97)	(17)
Other	(359)	(809)
Net changes in operating assets and liabilities:
Accounts receivable, net	(3,362)	915
Inventories, net	284	(866)
Prepaid expenses and other current assets	(2,154)	(795)
Trade accounts payable	1,422	791
Other current liabilities	2,032	(2,429)
Net cash provided by operating activities	2,881	736
Investing activities
Capital expenditures	(1,962)	(2,191)
Proceeds from sale of property and equipment	148	28
Net cash used in investing activities	(1,814)	(2,163)
Financing activities
Principal payments on long-term debt and capital leases	(657)	(531)
Proceeds from revolving facility	7,000	0
Payments on revolving facility	(7,000)	0
Distributions to noncontrolling interests	(2)	(8)
Payments of employee taxes on certain share-based arrangements	(303)	(85)
Net Cash Provided by (Used in) Financing Activities	(962)	(624)
Effect of exchange rate changes on cash and cash equivalents	694	790
Increase (decrease) in cash and cash equivalents	799	(1,261)
Cash and cash equivalents at beginning of period	58,452	62,641
Cash and cash equivalents at end of period	$ 59,251	$ 61,380

Consolidated Condensed Stateme6

Consolidated Condensed Statement of Equity - USD ($) $ in Thousands	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
Balance, beginning at Dec. 31, 2015							$ (33,121)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 496
Balance, ending at Apr. 02, 2016							(31,118)
Balance, beginning at Dec. 31, 2016	171,557	$ 1,278	$ 103	$ (8,765)	$ 190,373	$ 28,731	(40,337)	$ 171,383	$ 174
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	2,003					1,995		1,995	8
Other comprehensive income	1,525						1,525	1,525
Share-based compensation expense	243				243			243
Restricted stock issuances (25,144 shares)	(260)	3			(263)			(260)
Distributions to noncontrolling interests	(2)								(2)
Balance, ending at Apr. 01, 2017	$ 175,066	$ 1,281	$ 103	$ (8,765)	$ 190,353	$ 30,726	$ (38,812)	$ 174,886	$ 180

Consolidated Condensed Stateme7

Consolidated Condensed Statement of Equity (Parenthetical)	3 Months Ended
	Apr. 01, 2017shares
Common Stock
Restricted stock issuances, shares	25,144

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 01, 2017
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 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, 2016 and 2015 and for each of the three years in the period ended December 31, 2016 , included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 , filed with the SEC on March 16, 2017. The results of operations for the fiscal quarter ended April 1, 2017 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 2017 and 2016 end on the following dates: 2017 2016 Quarter 1 April 1, April 2, Quarter 2 July 1, July 2, Quarter 3 September 30, October 1, Quarter 4 December 31, December 31, Recent Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ”. This ASU requires the service cost component of net periodic benefit cost to be presented in the same income statement line item as other employee compensation costs. All other components of the net periodic benefit cost will be presented outside of operating income. The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2017 and early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In January 2017, the FASB issued ASU No. 2017‑04, “ Simplifying the Test for Goodwill Impairment .” This ASU eliminates the requirement to calculate the implied fair value of goodwill (second step) to measure a goodwill impairment charge. Under the guidance, an impairment charge will be measured based on the excess of the reporting unit’s carrying amount over its fair value (first step). The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In January 2017, FASB issued ASU No. 2017‑01, “ Clarifying the Definition of a Business. ” This ASU provides a more robust framework to determine when a set of assets and activities is a business. The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2017 and will be applied prospectively to any transactions occurring within the period of adoption. Early adoption is permitted, including for interim or annual periods in which the financial statements have not been issued or made available for issuance. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Classification of Certain Cash Receipts and Cash Payments .” This ASU is intended to clarify the presentation of certain cash receipts and payments within the statement of cash flows. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In March 2016, the FASB issued ASU No. 2016-09," Improvements to Employee Share-Based Payment Accounting. " This ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company prospectively adopted this ASU effective January 1, 2017. For the fiscal quarter ended April 1, 2017, the tax benefit within income tax expense for the tax effect of share-based payment transactions was not material. Prior to adoption, this amount would have been recorded as a reduction of Capital in excess of par value. The Company elected to change its accounting policy to recognize forfeitures as they occur. As a result of this change, there was no cumulative-effect adjustment to retained earnings. For the fiscal quarter ended April 1, 2017, the Company excluded excess tax benefits from the assumed proceeds available to repurchase shares in the computation of its diluted earnings per share and the related increase in the Company’s diluted weighted average commons shares outstanding was not significant. In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) ,” a comprehensive new lease standard that amends various aspects of existing accounting guidance for leases. The core principle of this ASU will require lessees to present the assets and liabilities that arise from leases on their balance sheets. The ASU is effective for public companies for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In July 2015, the FASB issued ASU No. 2015-11, " Simplifying the Measurement of Inventory (Topic 330) ," which simplifies the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company prospectively adopted this ASU effective January 1, 2017 and the adoption did not have a significant impact on the Company’s consolidated condensed financial statements. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers ," and modified the standard thereafter. The objective of the ASU is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that 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, 2017 and early adoption is permitted for annual and interim periods beginning after December 15, 2016. The guidance permits adoption by retrospectively applying the guidance to disclosures comparing results to previous guidance, with the cumulative effect of initially applying the guidance recognized in beginning retained earnings at the date of initial application (modified retrospective method). The Company is in the process of determining the adoption method. The Company is in the assessment phase, reviewing a representative sample of contracts, discussions with key stakeholders and cataloging potential impacts on the Company's operations, accounting policies, internal control over financial reporting and financial statements. The Company has identified the key changes in the ASU that could potentially impact the Company's revenue recognition related to the allocation of contract revenues between various products and services, the timing of when those revenues are recognized and the deferral of incremental costs to obtain a contract. The Company is continuing to determine the impact of the ASU on the consolidated results of operations, financial position, cash flows and financial statement disclosures.

Goodwill

Goodwill	3 Months Ended
	Apr. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The change in the carrying amount of goodwill by segment is as follows (in thousands) : Total Weighing and Control Systems Segment Foil Technology Products Segment KELK Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2016 $ 18,717 $ 6,364 $ 6,311 $ 6,042 Foreign currency translation adjustment 68 68 — — Balance at April 1, 2017 $ 18,785 $ 6,432 $ 6,311 $ 6,042

Restructuring Costs

Restructuring Costs	3 Months Ended
	Apr. 01, 2017
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs Restructuring costs represent the cost reduction programs initiated 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. The Company recorded aggregate restructuring costs of $0.6 million and $0.7 million during the fiscal quarters ended April 1, 2017 and April 2, 2016 , respectively. Restructuring costs consist mainly of employee termination costs and facility closure costs, which were incurred in connection with various cost reduction programs. During the fiscal three months ended April 1, 2017, the Company implemented various cost reduction plans in the U.S., Canada and Asia. During the fiscal three months ended April 2, 2016, the Company implemented various cost reduction plans at locations in Europe and the U.S. During the fiscal three months ended April 1, 2017 and April 2, 2016 , the Company recorded $0.4 million and $0.4 million of restructuring costs, respectively, consisting primarily of severance, related to these plans. On November 16, 2015, the Company announced a global cost reduction program as part of its efforts to improve efficiency and operating performance. The Company recorded $0.2 million of restructuring costs during the three fiscal months ended April 1, 2017 related to this program. Complete implementation of this program is expected to occur by the end of the second quarter of 2017. On March 23, 2016, the Company announced, in connection with the November 16, 2015 global cost reduction program, the decision to close its facility in Alajuela, Costa Rica. Approximately $0.3 million of restructuring costs were recorded during the three fiscal months ended April 2, 2016 related to this closure. The following table summarizes the activity related to all restructuring programs. The accrued restructuring liability balance as of April 1, 2017 and December 31, 2016, respectively, is included in other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2016 $ 1,333 Restructuring costs in 2017 554 Cash payments (1,207 ) Foreign currency translation — Balance at April 1, 2017 $ 680

Income Taxes

Income Taxes	3 Months Ended
	Apr. 01, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes VPG calculates the tax provision for interim periods using an estimated annual effective tax rate methodology based on projected full-year pre-tax earnings among the taxing jurisdictions in which we operate with adjustments for discrete items. The effective tax rate for the fiscal quarter ended April 1, 2017 was 32.4% compared to 54.4% for the fiscal quarter ended April 2, 2016 . The tax rate in the current fiscal quarter is lower than the prior year fiscal quarter primarily because of the reduced impact in the current quarter of certain discrete tax items, such as withholding taxes on foreign earnings and the impact of tax rate changes on deferred tax assets. The reduction in tax rate associated with discrete items is partially offset by a tax rate increase due to changes in the geographic mix of pre-tax earnings and changes in the mix of earnings taxed at different rates within a jurisdiction. In addition, the tax rate in the first quarter of 2016 was reduced by a decrease in an uncertain tax position liability that did not recur in the current quarter. 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 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 a reduction in the liability for unrecognized tax benefits between $0.1 million to $0.3 million within twelve months of the balance sheet date due to cash payments and the potential for the expiration of statutes of limitation in certain jurisdictions.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 01, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : April 1, 2017 December 31, 2016 2015 Credit Agreement - Revolving Facility $ 9,000 $ 9,000 2015 Credit Agreement - U.S. Closing Date Term Facility 4,012 4,128 2015 Credit Agreement - U.S. Delayed Draw Term Facility 9,808 10,092 2015 Credit Agreement - Canadian Term Facility 8,555 8,780 Exchangeable Unsecured Notes, due 2102 4,097 4,097 Other debt 503 509 Deferred financing costs (427 ) (454 ) Total long-term debt 35,548 36,152 Less: current portion 2,742 2,623 Long-term debt, less current portion $ 32,806 $ 33,529

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Apr. 01, 2017
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 Balance at January 1, 2017 $ (33,192 ) $ (7,145 ) $ (40,337 ) Other comprehensive income before reclassifications 1,489 — 1,489 Amounts reclassified from accumulated other comprehensive income (loss) — 36 36 Balance at April 1, 2017 $ (31,703 ) $ (7,109 ) $ (38,812 ) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2016 $ (28,704 ) $ (4,417 ) $ (33,121 ) Other comprehensive loss before reclassifications 1,871 — 1,871 Amounts reclassified from accumulated other comprehensive income (loss) — 132 132 Balance at April 2, 2016 $ (26,833 ) $ (4,285 ) $ (31,118 ) 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 7).

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	3 Months Ended
	Apr. 01, 2017
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 Pension OPEB Pension OPEB Net service cost $ 117 $ 28 $ 102 $ 25 Interest cost 163 35 205 32 Expected return on plan assets (130 ) — (167 ) — Amortization of actuarial losses 111 28 51 19 Net periodic benefit cost $ 261 $ 91 $ 191 $ 76

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 , the Company had reserved 277,401 shares of common stock for future grants 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 re-grant to others. On February 9, 2017, VPG’s three current executive officers were granted annual equity awards in the form of RSUs, of which 75% are performance-based. The awards were comprised of 53,913 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, 2017 and have an aggregate grant-date fair value of $0.9 million . Twenty-five percent of these awards will vest on January 1, 2020, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2020, subject to the satisfaction of certain performance objectives relating to three -year cumulative “free cash” and net earnings goals, each weighted equally, and the executives' continued employment. On March 23, 2017, 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 $0.4 million and were comprised of 23,921 RSUs. Twenty-five percent of these awards will vest on January 1, 2020 subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2020, subject to the satisfaction of certain performance objectives relating to three -year cumulative earnings and cash flow goals, and the employees' 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 April 1, 2017 April 2, 2016 Restricted stock units $ 243 $ 356

Segment Information

Segment Information	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 April 2, 2016 Net third-party revenues: Foil Technology Products $ 27,764 $ 26,319 Force Sensors 15,468 14,838 Weighing and Control Systems 16,555 15,472 Total $ 59,787 $ 56,629 Gross profit: Foil Technology Products $ 11,499 $ 11,127 Force Sensors 3,691 2,728 Weighing and Control Systems 7,327 5,920 Total $ 22,517 $ 19,775 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 6,063 $ 6,764 Force Sensors 1,381 405 Weighing and Control Systems 3,081 1,192 Unallocated G&A expenses (6,234 ) (6,634 ) Acquisition costs — (62 ) Restructuring costs (554 ) (675 ) Consolidated condensed operating income $ 3,737 $ 990 Acquisition costs: Foil Technology Products $ — $ (50 ) Weighing and Control Systems — (12 ) $ — $ (62 ) Restructuring costs: Foil Technology Products $ (126 ) $ (498 ) Force Sensors (177 ) (3 ) Weighing and Control Systems (248 ) (154 ) Corporate/Other (3 ) (20 ) $ (554 ) $ (675 ) 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 $0.8 million and $0.4 million during the fiscal quarters ended April 1, 2017 and April 2, 2016 . Intersegment sales from the Force Sensors segment to the Foil Technology Products segment and Weighing and Control Systems segment were $0.4 million and $0.5 million during the fiscal quarters ended April 1, 2017 and April 2, 2016 , respectively. Intersegment sales from the Weighing and Control Systems segment to the Force Sensors segment were $0.2 million in each of the fiscal quarters ended April 1, 2017 and April 2, 2016 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 April 2, 2016 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 1,995 $ 480 Adjustment to the numerator for net earnings: Interest savings assuming conversion of dilutive exchangeable notes, net of tax 6 4 Numerator for diluted earnings per share: Net earnings attributable to VPG stockholders $ 2,001 $ 484 Denominator: Denominator for basic earnings per share: Weighted average shares 13,210 13,178 Effect of dilutive securities: Exchangeable notes 181 181 Restricted stock units 47 40 Dilutive potential common shares 228 221 Denominator for diluted earnings per share: Adjusted weighted average shares 13,438 13,399 Basic earnings per share attributable to VPG stockholders $ 0.15 $ 0.04 Diluted earnings per share attributable to VPG stockholders $ 0.15 $ 0.04 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 April 1, 2017 April 2, 2016 Weighted average employee stock options — 18

Additional Financial Statement

Additional Financial Statement Information	3 Months Ended
	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Statement Information	Additional Financial Statement Information The caption “other” on the consolidated condensed statements of operations consists of the following (in thousands) : Fiscal quarter ended April 1, 2017 April 2, 2016 Foreign exchange (loss) gain $ (374 ) $ 428 Interest income 38 62 Other 15 (65 ) $ (321 ) $ 425

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 Assets Assets held in rabbi trusts $ 4,758 $ 406 $ 4,352 $ — December 31, 2016 Assets Assets held in rabbi trusts $ 4,772 $ 537 $ 4,235 $ — 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 April 1, 2017 and December 31, 2016 , 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, excluding capitalized deferred financing costs, at April 1, 2017 and December 31, 2016 is approximately $35.0 million and $36.0 million , respectively, compared to its carrying value, excluding capitalized deferred financing costs, of $35.5 million and $36.2 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.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ”. This ASU requires the service cost component of net periodic benefit cost to be presented in the same income statement line item as other employee compensation costs. All other components of the net periodic benefit cost will be presented outside of operating income. The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2017 and early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In January 2017, the FASB issued ASU No. 2017‑04, “ Simplifying the Test for Goodwill Impairment .” This ASU eliminates the requirement to calculate the implied fair value of goodwill (second step) to measure a goodwill impairment charge. Under the guidance, an impairment charge will be measured based on the excess of the reporting unit’s carrying amount over its fair value (first step). The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In January 2017, FASB issued ASU No. 2017‑01, “ Clarifying the Definition of a Business. ” This ASU provides a more robust framework to determine when a set of assets and activities is a business. The amendments in this ASU are effective for interim and annual reporting periods beginning after December 15, 2017 and will be applied prospectively to any transactions occurring within the period of adoption. Early adoption is permitted, including for interim or annual periods in which the financial statements have not been issued or made available for issuance. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Classification of Certain Cash Receipts and Cash Payments .” This ASU is intended to clarify the presentation of certain cash receipts and payments within the statement of cash flows. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In March 2016, the FASB issued ASU No. 2016-09," Improvements to Employee Share-Based Payment Accounting. " This ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company prospectively adopted this ASU effective January 1, 2017. For the fiscal quarter ended April 1, 2017, the tax benefit within income tax expense for the tax effect of share-based payment transactions was not material. Prior to adoption, this amount would have been recorded as a reduction of Capital in excess of par value. The Company elected to change its accounting policy to recognize forfeitures as they occur. As a result of this change, there was no cumulative-effect adjustment to retained earnings. For the fiscal quarter ended April 1, 2017, the Company excluded excess tax benefits from the assumed proceeds available to repurchase shares in the computation of its diluted earnings per share and the related increase in the Company’s diluted weighted average commons shares outstanding was not significant. In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) ,” a comprehensive new lease standard that amends various aspects of existing accounting guidance for leases. The core principle of this ASU will require lessees to present the assets and liabilities that arise from leases on their balance sheets. The ASU is effective for public companies for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the new standard to determine the impact on the Company’s consolidated condensed financial statements. In July 2015, the FASB issued ASU No. 2015-11, " Simplifying the Measurement of Inventory (Topic 330) ," which simplifies the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company prospectively adopted this ASU effective January 1, 2017 and the adoption did not have a significant impact on the Company’s consolidated condensed financial statements. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers ," and modified the standard thereafter. The objective of the ASU is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that 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, 2017 and early adoption is permitted for annual and interim periods beginning after December 15, 2016. The guidance permits adoption by retrospectively applying the guidance to disclosures comparing results to previous guidance, with the cumulative effect of initially applying the guidance recognized in beginning retained earnings at the date of initial application (modified retrospective method). The Company is in the process of determining the adoption method. The Company is in the assessment phase, reviewing a representative sample of contracts, discussions with key stakeholders and cataloging potential impacts on the Company's operations, accounting policies, internal control over financial reporting and financial statements. The Company has identified the key changes in the ASU that could potentially impact the Company's revenue recognition related to the allocation of contract revenues between various products and services, the timing of when those revenues are recognized and the deferral of incremental costs to obtain a contract. The Company is continuing to determine the impact of the ASU on the consolidated results of operations, financial position, cash flows and financial statement disclosures.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Fiscal Quarters	The four fiscal quarters in 2017 and 2016 end on the following dates: 2017 2016 Quarter 1 April 1, April 2, Quarter 2 July 1, July 2, Quarter 3 September 30, October 1, Quarter 4 December 31, December 31,

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Apr. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill by segment is as follows (in thousands) : Total Weighing and Control Systems Segment Foil Technology Products Segment KELK Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2016 $ 18,717 $ 6,364 $ 6,311 $ 6,042 Foreign currency translation adjustment 68 68 — — Balance at April 1, 2017 $ 18,785 $ 6,432 $ 6,311 $ 6,042

Restructuring Costs (Tables)

Restructuring Costs (Tables)	3 Months Ended
	Apr. 01, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table summarizes the activity related to all restructuring programs. The accrued restructuring liability balance as of April 1, 2017 and December 31, 2016, respectively, is included in other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2016 $ 1,333 Restructuring costs in 2017 554 Cash payments (1,207 ) Foreign currency translation — Balance at April 1, 2017 $ 680

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 01, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : April 1, 2017 December 31, 2016 2015 Credit Agreement - Revolving Facility $ 9,000 $ 9,000 2015 Credit Agreement - U.S. Closing Date Term Facility 4,012 4,128 2015 Credit Agreement - U.S. Delayed Draw Term Facility 9,808 10,092 2015 Credit Agreement - Canadian Term Facility 8,555 8,780 Exchangeable Unsecured Notes, due 2102 4,097 4,097 Other debt 503 509 Deferred financing costs (427 ) (454 ) Total long-term debt 35,548 36,152 Less: current portion 2,742 2,623 Long-term debt, less current portion $ 32,806 $ 33,529

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Apr. 01, 2017
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 Balance at January 1, 2017 $ (33,192 ) $ (7,145 ) $ (40,337 ) Other comprehensive income before reclassifications 1,489 — 1,489 Amounts reclassified from accumulated other comprehensive income (loss) — 36 36 Balance at April 1, 2017 $ (31,703 ) $ (7,109 ) $ (38,812 ) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2016 $ (28,704 ) $ (4,417 ) $ (33,121 ) Other comprehensive loss before reclassifications 1,871 — 1,871 Amounts reclassified from accumulated other comprehensive income (loss) — 132 132 Balance at April 2, 2016 $ (26,833 ) $ (4,285 ) $ (31,118 )

Pensions and Other Postretire26

Pensions and Other Postretirement Benefits (Tables)	3 Months Ended
	Apr. 01, 2017
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 Pension OPEB Pension OPEB Net service cost $ 117 $ 28 $ 102 $ 25 Interest cost 163 35 205 32 Expected return on plan assets (130 ) — (167 ) — Amortization of actuarial losses 111 28 51 19 Net periodic benefit cost $ 261 $ 91 $ 191 $ 76

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 April 2, 2016 Restricted stock units $ 243 $ 356

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 01, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands) : Fiscal quarter ended April 1, 2017 April 2, 2016 Net third-party revenues: Foil Technology Products $ 27,764 $ 26,319 Force Sensors 15,468 14,838 Weighing and Control Systems 16,555 15,472 Total $ 59,787 $ 56,629 Gross profit: Foil Technology Products $ 11,499 $ 11,127 Force Sensors 3,691 2,728 Weighing and Control Systems 7,327 5,920 Total $ 22,517 $ 19,775 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 6,063 $ 6,764 Force Sensors 1,381 405 Weighing and Control Systems 3,081 1,192 Unallocated G&A expenses (6,234 ) (6,634 ) Acquisition costs — (62 ) Restructuring costs (554 ) (675 ) Consolidated condensed operating income $ 3,737 $ 990 Acquisition costs: Foil Technology Products $ — $ (50 ) Weighing and Control Systems — (12 ) $ — $ (62 ) Restructuring costs: Foil Technology Products $ (126 ) $ (498 ) Force Sensors (177 ) (3 ) Weighing and Control Systems (248 ) (154 ) Corporate/Other (3 ) (20 ) $ (554 ) $ (675 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 April 2, 2016 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 1,995 $ 480 Adjustment to the numerator for net earnings: Interest savings assuming conversion of dilutive exchangeable notes, net of tax 6 4 Numerator for diluted earnings per share: Net earnings attributable to VPG stockholders $ 2,001 $ 484 Denominator: Denominator for basic earnings per share: Weighted average shares 13,210 13,178 Effect of dilutive securities: Exchangeable notes 181 181 Restricted stock units 47 40 Dilutive potential common shares 228 221 Denominator for diluted earnings per share: Adjusted weighted average shares 13,438 13,399 Basic earnings per share attributable to VPG stockholders $ 0.15 $ 0.04 Diluted earnings per share attributable to VPG stockholders $ 0.15 $ 0.04
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 April 1, 2017 April 2, 2016 Weighted average employee stock options — 18

Additional Financial Statemen30

Additional Financial Statement Information (Tables)	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 April 2, 2016 Foreign exchange (loss) gain $ (374 ) $ 428 Interest income 38 62 Other 15 (65 ) $ (321 ) $ 425

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 01, 2017
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 April 1, 2017 Assets Assets held in rabbi trusts $ 4,758 $ 406 $ 4,352 $ — December 31, 2016 Assets Assets held in rabbi trusts $ 4,772 $ 537 $ 4,235 $ —

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2017USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 18,717
Foreign currency translation adjustment	68
Ending balance	18,785
George Kelk Corporation (KELK) | Weighing and Control Systems
Goodwill [Roll Forward]
Beginning balance	6,364
Foreign currency translation adjustment	68
Ending balance	6,432
Stress-Tek, Inc. | Weighing and Control Systems
Goodwill [Roll Forward]
Beginning balance	6,311
Foreign currency translation adjustment	0
Ending balance	6,311
Pacific Instruments, Inc. | Foil Technology Products
Goodwill [Roll Forward]
Beginning balance	6,042
Foreign currency translation adjustment	0
Ending balance	$ 6,042

Restructuring Costs (Details Te

Restructuring Costs (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 554	$ 675
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	554	700
Global Cost Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs	200
Europe, Canada and United States
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 400	400
Costa Rica | Global Cost Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 300

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Restructuring Reserve [Roll Forward]
Restructuring costs	$ 554	$ 675
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1,333
Restructuring costs	554	$ 700
Paid restructuring costs	(1,207)
Translation adjustment	0
Restructuring reserve, ending balance	$ 680

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Income Tax Contingency [Line Items]
Effective tax rate (percent)	32.40%	54.40%
Minimum
Income Tax Contingency [Line Items]
Anticipated change in unrecognized tax benefits, lower bound	$ 0.1
Maximum
Income Tax Contingency [Line Items]
Anticipated change in unrecognized tax benefits, lower bound	$ 0.3

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Exchangeable Unsecured Notes, due 2102	$ 4,097	$ 4,097
Other debt	503	509
Deferred financing costs	(427)	(454)
Total long-term debt	35,548	36,152
Less: current portion	2,742	2,623
Long-term debt, less current portion	32,806	33,529
Revolving Credit Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	9,000	9,000
U.S. Closing Date Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	4,012	4,128
U.S. Delayed Draw Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	9,808	10,092
Canadian Term Facilities | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	$ 8,555	$ 8,780

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 171,557
Other comprehensive income before reclassifications	1,489	$ 1,871
Amounts reclassified from accumulated other comprehensive income (loss)	36	132
Balance, ending	175,066
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(33,192)	(28,704)
Other comprehensive income before reclassifications	1,489	1,871
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	(31,703)	(26,833)
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(7,145)	(4,417)
Other comprehensive income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	36	132
Balance, ending	(7,109)	(4,285)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(40,337)	(33,121)
Balance, ending	$ (38,812)	$ (31,118)

Pensions and Other Postretire38

Pensions and Other Postretirement Benefits (Schedule of Net Pension and Other Retirement Plan Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 117	$ 102
Interest cost	163	205
Expected return on plan assets	(130)	(167)
Amortization of actuarial losses	111	51
Net periodic benefit cost	261	191
Other Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net service cost	28	25
Interest cost	35	32
Expected return on plan assets	0	0
Amortization of actuarial losses	28	19
Net periodic benefit cost	$ 91	$ 76

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ in Millions	Mar. 23, 2017USD ($)shares	Feb. 09, 2017USD ($)peopleshares	Apr. 01, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (up to)			1,000,000
Number of shares available for grant			277,401
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of people granted awards | people		3
Percentage of performance based units on total units approved	75.00%	75.00%
Weighted average grant date fair value | $	$ 0.4	$ 0.9
Number of RSUs Granted	23,921	53,913
Number of trading days used in grant date fair value calculation		5 days
Share-based compensation arrangement by share-based payment award, award vesting period	3 years	3 years
Vesting on January 1, 2020 | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (percentage)	25.00%	25.00%

Share-Based Compensation (Sched

Share-Based Compensation (Schedule of Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted stock units	$ 243	$ 356

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2017USD ($)segment	Apr. 02, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Net revenues	$ 59,787	$ 56,629
Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	27,764	26,319
Foil Technology Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	800	400
Force Sensors
Segment Reporting Information [Line Items]
Net revenues	15,468	14,838
Force Sensors | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	400	500
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	16,555	15,472
Weighing and Control Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	$ 200	$ 200

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Segment Reporting Information [Line Items]
Net third-party revenues	$ 59,787	$ 56,629
Gross profit	22,517	19,775
Segment operating income	3,737	990
Acquisition costs	0	(62)
Restructuring costs	(554)	(675)
Foil Technology Products
Segment Reporting Information [Line Items]
Net third-party revenues	27,764	26,319
Gross profit	11,499	11,127
Acquisition costs	0	(50)
Restructuring costs	(126)	(498)
Force Sensors
Segment Reporting Information [Line Items]
Net third-party revenues	15,468	14,838
Gross profit	3,691	2,728
Restructuring costs	(177)	(3)
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net third-party revenues	16,555	15,472
Gross profit	7,327	5,920
Acquisition costs	0	(12)
Restructuring costs	(248)	(154)
Operating Segments | Foil Technology Products
Segment Reporting Information [Line Items]
Segment operating income	6,063	6,764
Operating Segments | Force Sensors
Segment Reporting Information [Line Items]
Segment operating income	1,381	405
Operating Segments | Weighing and Control Systems
Segment Reporting Information [Line Items]
Segment operating income	3,081	1,192
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(6,234)	(6,634)
Acquisition costs	0	(62)
Restructuring costs	(554)	(675)
Corporate/Other
Segment Reporting Information [Line Items]
Restructuring costs	$ (3)	$ (20)

Earnings Per Share (Computation

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Numerator:
Net earnings attributable to VPG stockholders	$ 1,995	$ 480
Adjustment to the numerator for net earnings:
Interest savings assuming conversion of dilutive exchangeable notes, net of tax	6	4
Numerator for diluted earnings per share:
Net earnings attributable to VPG stockholders	$ 2,001	$ 484
Denominator:
Weighted average shares	13,210	13,178
Effect of dilutive securities:
Exchangeable notes	181	181
Restricted stock units	47	40
Dilutive potential common shares	228	221
Denominator for diluted earnings per share:
Adjusted weighted average shares	13,438	13,399
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.15	$ 0.04
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.15	$ 0.04

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Antidilutive Effects) (Details) - shares shares in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average employee stock options	0	18

Additional Financial Statemen45

Additional Financial Statement Information (Schedule of Other Items in Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange (loss) gain	$ (374)	$ 428
Interest income	38	62
Other	15	(65)
Other nonoperating income (expense)	$ (321)	$ 425

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities at Fair Value, Recurring) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 4,758	$ 4,772
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	406	537
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	4,352	4,235
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 ($) $ in Millions	Apr. 01, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$ 35	$ 36
Long-term debt, carrying value	$ 35.5	$ 36.2