Vishay Precision (VPG) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Entity Registrant Name	Vishay Precision Group, Inc.
Entity Central Index Key	1,487,952
Current Fiscal Year End Date	--09-30
Trading Symbol	VPG
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,266,407
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,025,158

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 69,891	$ 58,452
Accounts receivable, net	43,037	34,270
Inventories:
Raw materials	16,487	15,647
Work in process	22,215	21,115
Finished goods	20,561	19,559
Inventories, net	59,263	56,321
Prepaid expenses and other current assets	9,923	6,831
Total current assets	182,114	155,874
Property and equipment, at cost:
Land	3,428	3,344
Buildings and improvements	49,491	48,454
Machinery and equipment	92,521	89,080
Software	7,787	7,441
Construction in progress	2,338	4,340
Accumulated depreciation	(101,964)	(97,374)
Property and equipment, net	53,601	55,285
Goodwill	19,228	18,717
Intangible assets, net	21,025	21,585
Other assets	19,751	19,049
Total assets	295,719	270,510
Liabilities and equity
Trade accounts payable	9,673	8,264
Payroll and related expenses	14,992	11,978
Other accrued expenses	15,615	13,285
Income taxes	3,193	772
Current portion of long-term debt	2,965	2,623
Total current liabilities	46,438	36,922
Long-term debt, less current portion	30,017	33,529
Deferred income taxes	809	735
Other liabilities	13,793	13,054
Accrued pension and other postretirement costs	15,161	14,713
Total liabilities	106,218	98,953
Commitments and contingencies
Equity:
Common stock	1,288	1,278
Treasury stock	(8,765)	(8,765)
Capital in excess of par value	192,364	190,373
Retained earnings	38,600	28,731
Accumulated other comprehensive loss	(34,278)	(40,337)
Total Vishay Precision Group, Inc. stockholders' equity	189,312	171,383
Noncontrolling interests	189	174
Total equity	189,501	171,557
Total liabilities and equity	295,719	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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Income Statement [Abstract]
Net revenues	$ 62,805	$ 54,490	$ 184,911	$ 169,115
Costs of products sold	38,538	34,225	113,368	107,580
Gross profit	24,267	20,265	71,543	61,535
Selling, general, and administrative expenses	18,525	16,917	55,551	53,409
Acquisition costs	0	0	0	414
Restructuring costs	423	709	1,292	2,395
Operating income	5,319	2,639	14,700	5,317
Other income (expense):
Interest expense	(472)	(377)	(1,392)	(1,076)
Other	1,717	(44)	1,034	351
Other income (expense) - net	1,245	(421)	(358)	(725)
Income before taxes	6,564	2,218	14,342	4,592
Income tax expense	2,239	1,135	4,398	1,164
Net earnings	4,325	1,083	9,944	3,428
Less: net earnings attributable to noncontrolling interests	70	32	75	29
Net earnings attributable to VPG stockholders	$ 4,255	$ 1,051	$ 9,869	$ 3,399
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.32	$ 0.08	$ 0.74	$ 0.26
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.32	$ 0.08	$ 0.73	$ 0.25
Weighted average shares outstanding - basic	13,291	13,192	13,253	13,185
Weighted average shares outstanding - diluted	13,470	13,422	13,452	13,409

Consolidated Condensed Stateme4

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 4,325	$ 1,083	$ 9,944	$ 3,428
Other comprehensive income (loss):
Foreign currency translation adjustment	2,285	(496)	6,119	167
Pension and other postretirement actuarial items, net of tax	(29)	130	(60)	503
Other comprehensive income (loss)	2,256	(366)	6,059	670
Total comprehensive income	6,581	717	16,003	4,098
Less: comprehensive income attributable to noncontrolling interests	70	32	75	29
Comprehensive income attributable to VPG stockholders	$ 6,511	$ 685	$ 15,928	$ 4,069

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016
Operating activities
Net earnings	$ 9,944	$ 3,428
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	7,977	8,416
Gain on disposal of property and equipment	(193)	(24)
Share-based compensation expense	959	465
Inventory write-offs for obsolescence	1,662	1,410
Deferred income taxes	264	(1,537)
Other	(907)	(862)
Net changes in operating assets and liabilities:
Accounts receivable, net	(7,030)	2,139
Inventories, net	(3,280)	(2,891)
Prepaid expenses and other current assets	(2,937)	(1,848)
Trade accounts payable	1,176	453
Other current liabilities	7,166	(2,572)
Net cash provided by operating activities	14,801	6,577
Investing activities
Capital expenditures	(4,366)	(6,266)
Proceeds from sale of property and equipment	442	316
Purchase of business	0	(10,727)
Net cash used in investing activities	(3,924)	(16,677)
Financing activities
Principal payments on long-term debt and capital leases	(1,971)	(1,599)
Proceeds from revolving facility	27,000	17,000
Payments on revolving facility	(27,000)	(12,000)
Distributions to noncontrolling interests	(60)	(12)
Payments of employee taxes on certain share-based arrangements	(303)	(85)
Net cash (used in) provided by financing activities	(2,334)	3,304
Effect of exchange rate changes on cash and cash equivalents	2,896	288
Increase (decrease) in cash and cash equivalents	11,439	(6,508)
Cash and cash equivalents at beginning of period	58,452	62,641
Cash and cash equivalents at end of period	69,891	56,133
Supplemental disclosure of non-cash financing transactions:
Conversion of exchangeable notes to common stock	$ (1,303)	$ 0

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	$ 3,428
Common stock issuance from conversion of exchangeable notes (57,729 shares)	0
Balance, ending at Oct. 01, 2016							(32,451)
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	9,944					9,869		9,869	75
Other comprehensive income	6,059						6,059	6,059
Share-based compensation expense	959				959			959
Restricted stock issuances (41,322 shares)	(261)	4			(265)			(261)
Common stock issuance from conversion of exchangeable notes (57,729 shares)	1,303	6			1,297			1,303
Distributions to noncontrolling interests	(60)								(60)
Balance, ending at Sep. 30, 2017	$ 189,501	$ 1,288	$ 103	$ (8,765)	$ 192,364	$ 38,600	$ (34,278)	$ 189,312	$ 189

Consolidated Condensed Stateme7

Consolidated Condensed Statement of Equity (Parenthetical) - Common Stock	9 Months Ended
	Sep. 30, 2017shares
Restricted stock issuances, shares	41,322
Common stock issuance from conversion of exchangeable notes, shares	57,729

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 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, 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 September 30, 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 May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-09, “Scope of Modification Accounting” . This ASU clarifies which changes to the terms or conditions of a share-based payment award will require modification accounting. 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 March 2017, the FASB issued 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 ASU will result in the reclassification of non-service costs components from Cost of products sold and Selling, general and administrative expenses to Other income (expense) - other. For the year ended December 31, 2016, the Company estimates the new standard would have increased Operating income by approximately $0.5 million with an offsetting increase in Other income (expense). 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 constitutes 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 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 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 and nine fiscal months ended September 30, 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 component 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 and nine fiscal months ended September 30, 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 will affect the timing of certain revenue related transactions primarily resulting in earlier recognition of revenue for contracts related to our steel products. The Company expects to adopt the ASU effective January 1, 2018 on a modified retrospective basis through a cumulative adjustment to equity. Upon adoption of the ASU, the Company does not expect the cumulative adjustment to equity to have a material impact to the consolidated financial statements. The estimate is subject to change based on the contracts outstanding as of the effective date of the ASU. The Company will continue to monitor the overall impact the adoption of this ASU will have on the consolidated results of operations, financial position, cash flows and financial statement disclosures to facilitate adoption by January 1, 2018.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 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 511 511 — — Balance at September 30, 2017 $ 19,228 $ 6,875 $ 6,311 $ 6,042

Restructuring Costs

Restructuring Costs	9 Months Ended
	Sep. 30, 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 $0.4 million and $0.7 million during the fiscal quarters ended September 30, 2017 and October 1, 2016 , respectively, and $1.3 million and $2.4 million during the nine fiscal months ended September 30, 2017 and October 1, 2016 , respectively. Restructuring costs consist mainly of employee termination costs and facility closure costs, which were incurred in connection with various cost reduction programs. The restructuring expenses recorded for the nine fiscal months ended September 30, 2017 , represent additional costs related to the previously announced cost reduction programs. During the nine fiscal months ended October 1, 2016 , the Company recorded $1.6 million related to cost reduction plans initiated at locations in Europe, the United States, and Canada, $0.4 million related to the closure of our Costa Rica facility, and $0.4 million related to the November 2015 global cost reduction plan. The following table summarizes recent activity related to all restructuring programs. The accrued restructuring liability balance as of September 30, 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 1,292 Cash payments (2,070 ) Foreign currency translation 1 Balance at September 30, 2017 $ 556

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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 September 30, 2017 was 34.1% compared to 51.2% for the fiscal quarter ended October 1, 2016 . The effective tax rate for the nine fiscal months ended September 30, 2017 was 30.7% compared to 25.3% for the nine fiscal months ended October 1, 2016 . The tax rate in the current fiscal quarter is lower than the prior year fiscal quarter primarily because of higher earnings subject to tax in the current fiscal quarter which reduced the impact of losses on which no tax benefit is provided. The current year nine fiscal month tax rate is higher than the prior year nine fiscal month tax rate primarily because of a tax benefit recorded last year related to the release of a valuation allowance in connection with the acquisition of Pacific. This difference is partially offset by a 2017 foreign currency benefit from a foreign subsidiary with U.S. dollars as its functional currency. The Company and its subsidiaries are subject to income taxes in the United States. 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	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : September 30, 2017 December 31, 2016 2015 Credit Agreement - Revolving Facility $ 9,000 $ 9,000 2015 Credit Agreement - U.S. Closing Date Term Facility 3,780 4,128 2015 Credit Agreement - U.S. Delayed Draw Term Facility 9,240 10,092 2015 Credit Agreement - Canadian Term Facility 8,105 8,780 Exchangeable Unsecured Notes, due 2102 2,794 4,097 Other debt 432 509 Deferred financing costs (369 ) (454 ) Total long-term debt 32,982 36,152 Less: current portion 2,965 2,623 Long-term debt, less current portion $ 30,017 $ 33,529 Exchangeable Unsecured Notes, due 2102 Effective May 12, 2017, a holder of the Company's exchangeable notes exercised its option to exchange approximately $1.3 million principal amount of the notes for 57,729 shares of VPG common stock at a contractual put/call rate of $22.57 . Following this transaction, VPG has outstanding exchangeable unsecured notes with a principal amount of approximately $2.8 million , which are exchangeable for an aggregate of 123,808 shares of VPG common stock.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 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 6,119 — 6,119 Amounts reclassified from accumulated other comprehensive income (loss) — (60 ) (60 ) Balance at September 30, 2017 $ (27,073 ) $ (7,205 ) $ (34,278 ) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2016 $ (28,704 ) $ (4,417 ) $ (33,121 ) Other comprehensive loss before reclassifications 167 — 167 Amounts reclassified from accumulated other comprehensive income (loss) — 503 503 Balance at October 1, 2016 $ (28,537 ) $ (3,914 ) $ (32,451 ) 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	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [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 OPEB plans (in thousands) : Fiscal quarter ended Fiscal quarter ended Pension OPEB Pension OPEB Net service cost $ 119 $ 28 $ 101 $ 25 Interest cost 167 35 192 33 Expected return on plan assets (133 ) — (153 ) — Amortization of actuarial losses 114 28 48 19 Net periodic benefit cost $ 267 $ 91 $ 188 $ 77 Nine fiscal months ended September 30, 2017 Nine fiscal months ended October 1, 2016 Pension OPEB Pension OPEB Net service cost $ 355 $ 84 $ 307 $ 75 Interest cost 495 105 602 97 Expected return on plan assets (395 ) — (486 ) — Amortization of actuarial losses 338 84 151 57 Net periodic benefit cost $ 793 $ 273 $ 574 $ 229

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 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 September 30, 2017 , the Company had reserved 256,730 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 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. On May 25, 2017, the Board of Directors approved the issuance of an aggregate of 15,495 RSUs to the independent board members of the Board of Directors and to the non-executive Chairman of the Board of Directors. The awards have an aggregate grant-date fair value of $0.3 million and will vest on the earlier of the next Annual Stockholders meeting or May 25, 2018, subject to the directors' continued service on the Board of Directors. On July 26, 2017, the Board of Directors approved the issuance of an aggregate of 5,176 RSUs to newly appointed board members of the Board of Directors. These awards represented a pro-rated portion of the annual equity grant made to non-executive directors pursuant to the Plan. The aggregate grant-date fair value of this award was $0.1 million and will vest on the earlier of the next Annual Stockholders meeting or May 25, 2018. 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Restricted stock units $ 467 $ (83 ) $ 959 $ 465 During the third quarter of 2017, the Company recorded an increase to share-based compensation expense of $0.2 million based upon a determination that achievement of certain performance objectives associated with awards granted in 2015 to executives and certain other employees were likely to be met. Share based compensation expense related to these performance objectives had been reduced in prior years. During the third quarter of 2016, it was determined that certain performance objectives associated with awards granted in 2014, 2015 and 2016, to executives and certain other employees were not likely to be fully met. As a result, share-based compensation expense of $0.5 million was reversed based on anticipated performance levels at that time.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Net third-party revenues: Foil Technology Products $ 29,315 $ 23,852 $ 86,385 $ 75,530 Force Sensors 16,596 15,231 47,720 45,465 Weighing and Control Systems 16,894 15,407 50,806 48,120 Total $ 62,805 $ 54,490 $ 184,911 $ 169,115 Gross profit: Foil Technology Products $ 12,235 $ 8,639 $ 36,009 $ 29,092 Force Sensors 4,746 4,716 12,964 11,903 Weighing and Control Systems 7,286 6,910 22,570 20,540 Total $ 24,267 $ 20,265 $ 71,543 $ 61,535 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 6,894 $ 3,894 $ 19,811 $ 14,839 Force Sensors 2,564 2,865 6,242 5,481 Weighing and Control Systems 2,992 2,997 9,691 7,114 Unallocated G&A expenses (6,708 ) (6,408 ) (19,752 ) (19,308 ) Acquisition costs — — — (414 ) Restructuring costs (423 ) (709 ) (1,292 ) (2,395 ) Consolidated condensed operating income $ 5,319 $ 2,639 $ 14,700 $ 5,317 Acquisition costs: Foil Technology Products $ — $ — $ — $ (391 ) Weighing and Control Systems — — — (23 ) $ — $ — $ — $ (414 ) Restructuring costs: Foil Technology Products $ 53 $ (416 ) $ (85 ) $ (1,134 ) Force Sensors (142 ) (78 ) (404 ) (379 ) Weighing and Control Systems (79 ) (192 ) (366 ) (724 ) Corporate/Other (255 ) (23 ) (437 ) (158 ) $ (423 ) $ (709 ) $ (1,292 ) $ (2,395 ) 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 $0.5 million and $0.8 million during the fiscal quarters ended September 30, 2017 and October 1, 2016 , respectively and $1.8 million and $1.9 million during the nine fiscal months ended September 30, 2017 and October 1, 2016 , respectively. Intersegment sales from the Force Sensors segment to the Foil Technology Products segment and Weighing and Control Systems segment were $0.3 million and $0.5 million during the fiscal quarters ended September 30, 2017 and October 1, 2016 , respectively, and $1.0 million and $1.5 million during the nine fiscal months ended September 30, 2017 and October 1, 2016 , respectively. Intersegment sales from the Weighing and Control Systems segment to the Force Sensors segment were $0.4 million and $0.2 million , during the fiscal quarters ended September 30, 2017 and October 1, 2016 , respectively, and $0.7 million and $0.7 million during the nine fiscal months ended September 30, 2017 and October 1, 2016 , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 4,255 $ 1,051 $ 9,869 $ 3,399 Adjustment to the numerator for net earnings: Interest savings assuming conversion of dilutive exchangeable notes, net of tax 6 4 18 12 Numerator for diluted earnings per share: Net earnings attributable to VPG stockholders $ 4,261 $ 1,055 $ 9,887 $ 3,411 Denominator: Denominator for basic earnings per share: Weighted average shares 13,291 13,192 13,253 13,185 Effect of dilutive securities: Exchangeable notes 124 181 152 181 Restricted stock units 55 49 47 43 Dilutive potential common shares 179 230 199 224 Denominator for diluted earnings per share: Adjusted weighted average shares 13,470 13,422 13,452 13,409 Basic earnings per share attributable to VPG stockholders $ 0.32 $ 0.08 $ 0.74 $ 0.26 Diluted earnings per share attributable to VPG stockholders $ 0.32 $ 0.08 $ 0.73 $ 0.25 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Weighted average employee stock options — 18 — 18

Additional Financial Statement

Additional Financial Statement Information	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Foreign exchange gain (loss) $ 169 $ (59 ) $ (463 ) $ 436 Interest income 47 42 103 145 Other 1,501 (27 ) 1,394 (230 ) $ 1,717 $ (44 ) $ 1,034 $ 351 Included within Other, for the fiscal quarter ended September 30, 2017, is net proceeds of $1.5 million related to a lease termination payment at the Company's Tianjin, People's Republic of China location. The relocation of operations in Tianjin has been completed and the majority of the expenses associated with the move have been incurred.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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 September 30, 2017 Assets Assets held in rabbi trusts $ 4,899 $ 378 $ 4,521 $ — 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 September 30, 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 September 30, 2017 and December 31, 2016 is approximately $33.8 million and $36.0 million , respectively, compared to its carrying value, excluding capitalized deferred financing costs, of $33.0 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)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-09, “Scope of Modification Accounting” . This ASU clarifies which changes to the terms or conditions of a share-based payment award will require modification accounting. 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 March 2017, the FASB issued 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 ASU will result in the reclassification of non-service costs components from Cost of products sold and Selling, general and administrative expenses to Other income (expense) - other. For the year ended December 31, 2016, the Company estimates the new standard would have increased Operating income by approximately $0.5 million with an offsetting increase in Other income (expense). 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 constitutes 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 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 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 and nine fiscal months ended September 30, 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 component 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 and nine fiscal months ended September 30, 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 will affect the timing of certain revenue related transactions primarily resulting in earlier recognition of revenue for contracts related to our steel products. The Company expects to adopt the ASU effective January 1, 2018 on a modified retrospective basis through a cumulative adjustment to equity. Upon adoption of the ASU, the Company does not expect the cumulative adjustment to equity to have a material impact to the consolidated financial statements. The estimate is subject to change based on the contracts outstanding as of the effective date of the ASU. The Company will continue to monitor the overall impact the adoption of this ASU will have on the consolidated results of operations, financial position, cash flows and financial statement disclosures to facilitate adoption by January 1, 2018.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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 511 511 — — Balance at September 30, 2017 $ 19,228 $ 6,875 $ 6,311 $ 6,042

Restructuring Costs (Tables)

Restructuring Costs (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table summarizes recent activity related to all restructuring programs. The accrued restructuring liability balance as of September 30, 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 1,292 Cash payments (2,070 ) Foreign currency translation 1 Balance at September 30, 2017 $ 556

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : September 30, 2017 December 31, 2016 2015 Credit Agreement - Revolving Facility $ 9,000 $ 9,000 2015 Credit Agreement - U.S. Closing Date Term Facility 3,780 4,128 2015 Credit Agreement - U.S. Delayed Draw Term Facility 9,240 10,092 2015 Credit Agreement - Canadian Term Facility 8,105 8,780 Exchangeable Unsecured Notes, due 2102 2,794 4,097 Other debt 432 509 Deferred financing costs (369 ) (454 ) Total long-term debt 32,982 36,152 Less: current portion 2,965 2,623 Long-term debt, less current portion $ 30,017 $ 33,529

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 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 6,119 — 6,119 Amounts reclassified from accumulated other comprehensive income (loss) — (60 ) (60 ) Balance at September 30, 2017 $ (27,073 ) $ (7,205 ) $ (34,278 ) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2016 $ (28,704 ) $ (4,417 ) $ (33,121 ) Other comprehensive loss before reclassifications 167 — 167 Amounts reclassified from accumulated other comprehensive income (loss) — 503 503 Balance at October 1, 2016 $ (28,537 ) $ (3,914 ) $ (32,451 )

Pensions and Other Postretire26

Pensions and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [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 OPEB plans (in thousands) : Fiscal quarter ended Fiscal quarter ended Pension OPEB Pension OPEB Net service cost $ 119 $ 28 $ 101 $ 25 Interest cost 167 35 192 33 Expected return on plan assets (133 ) — (153 ) — Amortization of actuarial losses 114 28 48 19 Net periodic benefit cost $ 267 $ 91 $ 188 $ 77 Nine fiscal months ended September 30, 2017 Nine fiscal months ended October 1, 2016 Pension OPEB Pension OPEB Net service cost $ 355 $ 84 $ 307 $ 75 Interest cost 495 105 602 97 Expected return on plan assets (395 ) — (486 ) — Amortization of actuarial losses 338 84 151 57 Net periodic benefit cost $ 793 $ 273 $ 574 $ 229

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Restricted stock units $ 467 $ (83 ) $ 959 $ 465

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands) : Fiscal quarter ended Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Net third-party revenues: Foil Technology Products $ 29,315 $ 23,852 $ 86,385 $ 75,530 Force Sensors 16,596 15,231 47,720 45,465 Weighing and Control Systems 16,894 15,407 50,806 48,120 Total $ 62,805 $ 54,490 $ 184,911 $ 169,115 Gross profit: Foil Technology Products $ 12,235 $ 8,639 $ 36,009 $ 29,092 Force Sensors 4,746 4,716 12,964 11,903 Weighing and Control Systems 7,286 6,910 22,570 20,540 Total $ 24,267 $ 20,265 $ 71,543 $ 61,535 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 6,894 $ 3,894 $ 19,811 $ 14,839 Force Sensors 2,564 2,865 6,242 5,481 Weighing and Control Systems 2,992 2,997 9,691 7,114 Unallocated G&A expenses (6,708 ) (6,408 ) (19,752 ) (19,308 ) Acquisition costs — — — (414 ) Restructuring costs (423 ) (709 ) (1,292 ) (2,395 ) Consolidated condensed operating income $ 5,319 $ 2,639 $ 14,700 $ 5,317 Acquisition costs: Foil Technology Products $ — $ — $ — $ (391 ) Weighing and Control Systems — — — (23 ) $ — $ — $ — $ (414 ) Restructuring costs: Foil Technology Products $ 53 $ (416 ) $ (85 ) $ (1,134 ) Force Sensors (142 ) (78 ) (404 ) (379 ) Weighing and Control Systems (79 ) (192 ) (366 ) (724 ) Corporate/Other (255 ) (23 ) (437 ) (158 ) $ (423 ) $ (709 ) $ (1,292 ) $ (2,395 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 4,255 $ 1,051 $ 9,869 $ 3,399 Adjustment to the numerator for net earnings: Interest savings assuming conversion of dilutive exchangeable notes, net of tax 6 4 18 12 Numerator for diluted earnings per share: Net earnings attributable to VPG stockholders $ 4,261 $ 1,055 $ 9,887 $ 3,411 Denominator: Denominator for basic earnings per share: Weighted average shares 13,291 13,192 13,253 13,185 Effect of dilutive securities: Exchangeable notes 124 181 152 181 Restricted stock units 55 49 47 43 Dilutive potential common shares 179 230 199 224 Denominator for diluted earnings per share: Adjusted weighted average shares 13,470 13,422 13,452 13,409 Basic earnings per share attributable to VPG stockholders $ 0.32 $ 0.08 $ 0.74 $ 0.26 Diluted earnings per share attributable to VPG stockholders $ 0.32 $ 0.08 $ 0.73 $ 0.25
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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Weighted average employee stock options — 18 — 18

Additional Financial Statemen30

Additional Financial Statement Information (Tables)	9 Months Ended
	Sep. 30, 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 Nine fiscal months ended September 30, 2017 October 1, 2016 September 30, 2017 October 1, 2016 Foreign exchange gain (loss) $ 169 $ (59 ) $ (463 ) $ 436 Interest income 47 42 103 145 Other 1,501 (27 ) 1,394 (230 ) $ 1,717 $ (44 ) $ 1,034 $ 351 Included within Other, for the fiscal quarter ended September 30, 2017, is net proceeds of $1.5 million related to a lease termination payment at the Company's Tianjin, People's Republic of China location. The relocation of operations in Tianjin has been completed and the majority of the expenses associated with the move have been incurred.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2017 Assets Assets held in rabbi trusts $ 4,899 $ 378 $ 4,521 $ — December 31, 2016 Assets Assets held in rabbi trusts $ 4,772 $ 537 $ 4,235 $ —

Basis of Presentation Narrative

Basis of Presentation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income	$ 5,319	$ 2,639	$ 14,700	$ 5,317
Other expense	$ (1,717)	$ 44	$ (1,034)	$ (351)
Accounting Standards Update 2017-07 | Pro Forma
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income					$ 500
Other expense					$ 500

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 18,717
Foreign currency translation adjustment	511
Ending balance	19,228
KELK Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,364
Foreign currency translation adjustment	511
Ending balance	6,875
Stress-Tek Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,311
Foreign currency translation adjustment	0
Ending balance	6,311
Pacific Acquisition | Foil Technology Products Segment
Goodwill [Roll Forward]
Beginning balance	6,042
Foreign currency translation adjustment	0
Ending balance	$ 6,042

Restructuring Costs (Narrative)

Restructuring Costs (Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 423	$ 709	$ 1,292	$ 2,395
Global Cost Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs				400
Europe, Canada and United States
Restructuring Cost and Reserve [Line Items]
Restructuring costs				1,600
Costa Rica | Global Cost Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs				$ 400

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Restructuring Reserve [Roll Forward]
Restructuring costs	$ 423	$ 709	$ 1,292	$ 2,395
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			1,333
Restructuring costs			1,292
Cash payments			(2,070)
Foreign currency translation			1
Restructuring reserve, ending balance	$ 556		$ 556

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Income Tax Contingency [Line Items]
Effective tax rate (percent)	34.10%	51.20%	30.70%	25.30%
Minimum
Income Tax Contingency [Line Items]
Anticipated reduction in unrecognized tax benefits	$ 0.1		$ 0.1
Maximum
Income Tax Contingency [Line Items]
Anticipated reduction in unrecognized tax benefits	$ 0.3		$ 0.3

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Exchangeable Unsecured Notes, due 2102	$ 2,794	$ 4,097
Other debt	432	509
Deferred financing costs	(369)	(454)
Total long-term debt	32,982	36,152
Less: current portion	2,965	2,623
Long-term debt, less current portion	30,017	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	3,780	4,128
U.S. Delayed Draw Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	9,240	10,092
Canadian Term Facilities | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	$ 8,105	$ 8,780

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) $ / shares in Units, $ in Thousands	May 12, 2017USD ($)shares$ / shares	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Exchangeable unsecured notes, due 2102		$ 2,794	$ 4,097
Unsecured Debt | Exchangeable Unsecured Notes Due 2102
Debt Instrument [Line Items]
Principal amount of notes exchanged for common stock	$ 1,300
Common stock issuance from conversion of exchangeable notes, shares | shares	57,729
Exchangeable notes conversion price amount (in dollars per share) | $ / shares	$ 22.57
Exchangeable unsecured notes, due 2102	$ 2,800
Number of shares of common stock the notes are exchangeable into (in shares) | shares	123,808

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 171,557
Balance, ending	189,501
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(33,192)	$ (28,704)
Other comprehensive income before reclassifications	6,119	167
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	(27,073)	(28,537)
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)	(60)	503
Balance, ending	(7,205)	(3,914)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(40,337)	(33,121)
Other comprehensive income before reclassifications	6,119	167
Amounts reclassified from accumulated other comprehensive income (loss)	(60)	503
Balance, ending	$ (34,278)	$ (32,451)

Pensions and Other Postretire40

Pensions and Other Postretirement Benefits (Schedule of Net Pension and Other Retirement Plan Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 119	$ 101	$ 355	$ 307
Interest cost	167	192	495	602
Expected return on plan assets	(133)	(153)	(395)	(486)
Amortization of actuarial losses	114	48	338	151
Net periodic benefit cost	267	188	793	574
Other Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net service cost	28	25	84	75
Interest cost	35	33	105	97
Expected return on plan assets	0	0	0	0
Amortization of actuarial losses	28	19	84	57
Net periodic benefit cost	$ 91	$ 77	$ 273	$ 229

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ in Thousands	Jul. 26, 2017USD ($)shares	May 25, 2017USD ($)shares	Mar. 23, 2017USD ($)shares	Feb. 09, 2017USD ($)peopleshares	Sep. 30, 2017USD ($)shares	Oct. 01, 2016USD ($)	Sep. 30, 2017USD ($)shares	Oct. 01, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (up to) | shares					1,000,000		1,000,000
Number of shares available for grant | shares					256,730		256,730
Share-based compensation expense | $					$ 467	$ (83)	$ 959	$ 465
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 200	$ (500)
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%
Number of RSUs granted (in shares) | shares	5,176	15,495	23,921	53,913
Number of trading days used in grant date fair value calculation				5 days
Weighted average grant date fair value | $	$ 100	$ 300	$ 400	$ 900
Award vesting period (in years)			3 years	3 years
Restricted Stock Units (RSUs) | Vesting on January 1, 2020
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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted stock units	$ 467	$ (83)	$ 959	$ 465

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Oct. 01, 2016USD ($)	Sep. 30, 2017USD ($)segment	Oct. 01, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Net revenues	$ 62,805	$ 54,490	$ 184,911	$ 169,115
Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	29,315	23,852	86,385	75,530
Foil Technology Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	500	800	1,800	1,900
Force Sensors
Segment Reporting Information [Line Items]
Net revenues	16,596	15,231	47,720	45,465
Force Sensors | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	300	500	1,000	1,500
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	16,894	15,407	50,806	48,120
Weighing and Control Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	$ 400	$ 200	$ 700	$ 700

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Segment Reporting Information [Line Items]
Net third-party revenues	$ 62,805	$ 54,490	$ 184,911	$ 169,115
Gross profit	24,267	20,265	71,543	61,535
Segment operating income	5,319	2,639	14,700	5,317
Acquisition costs	0	0	0	(414)
Restructuring costs	(423)	(709)	(1,292)	(2,395)
Foil Technology Products
Segment Reporting Information [Line Items]
Net third-party revenues	29,315	23,852	86,385	75,530
Gross profit	12,235	8,639	36,009	29,092
Acquisition costs	0	0	0	(391)
Restructuring costs	53	(416)	(85)	(1,134)
Force Sensors
Segment Reporting Information [Line Items]
Net third-party revenues	16,596	15,231	47,720	45,465
Gross profit	4,746	4,716	12,964	11,903
Restructuring costs	(142)	(78)	(404)	(379)
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net third-party revenues	16,894	15,407	50,806	48,120
Gross profit	7,286	6,910	22,570	20,540
Acquisition costs	0	0	0	(23)
Restructuring costs	(79)	(192)	(366)	(724)
Operating Segments | Foil Technology Products
Segment Reporting Information [Line Items]
Segment operating income	6,894	3,894	19,811	14,839
Operating Segments | Force Sensors
Segment Reporting Information [Line Items]
Segment operating income	2,564	2,865	6,242	5,481
Operating Segments | Weighing and Control Systems
Segment Reporting Information [Line Items]
Segment operating income	2,992	2,997	9,691	7,114
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(6,708)	(6,408)	(19,752)	(19,308)
Acquisition costs	0	0	0	(414)
Restructuring costs	(423)	(709)	(1,292)	(2,395)
Corporate/Other
Segment Reporting Information [Line Items]
Restructuring costs	$ (255)	$ (23)	$ (437)	$ (158)

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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Numerator:
Net earnings attributable to VPG stockholders	$ 4,255	$ 1,051	$ 9,869	$ 3,399
Adjustment to the numerator for net earnings:
Interest savings assuming conversion of dilutive exchangeable notes, net of tax	6	4	18	12
Numerator for diluted earnings per share:
Net earnings attributable to VPG stockholders	$ 4,261	$ 1,055	$ 9,887	$ 3,411
Denominator:
Weighted average shares	13,291	13,192	13,253	13,185
Effect of dilutive securities:
Exchangeable notes	124	181	152	181
Restricted stock units	55	49	47	43
Dilutive potential common shares	179	230	199	224
Denominator for diluted earnings per share:
Adjusted weighted average shares	13,470	13,422	13,452	13,409
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.32	$ 0.08	$ 0.74	$ 0.26
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.32	$ 0.08	$ 0.73	$ 0.25

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Antidilutive Effects) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average employee stock options (in shares)	0	18	0	18

Additional Financial Statemen47

Additional Financial Statement Information (Schedule of Other Items in Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange gain (loss)	$ 169	$ (59)	$ (463)	$ 436
Interest income	47	42	103	145
Other		(27)		(230)
Other	1,501		1,394
Other nonoperating income (expense)	$ 1,717	$ (44)	$ 1,034	$ 351

Additional Financial Statemen48

Additional Financial Statement Information Additional Financial Statement Information (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2017USD ($)
China
Condensed Financial Statements, Captions [Line Items]
Proceeds from lease termination payments	$ (1.5)

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities at Fair Value, Recurring) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 4,899	$ 4,772
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	378	537
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	4,521	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	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$ 33.8	$ 36
Long-term debt, carrying value	$ 33	$ 36.2