Vishay Precision (VPG) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 27, 2020	Aug. 04, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2020
Document Transition Report	false
Entity File Number	1-34679
Entity Registrant Name	VISHAY PRECISION GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0986328
Entity Address, Address Line One	3 Great Valley Parkway, Suite 150
Entity Address, City or Town	Malvern
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	484
Local Phone Number	321-5300
Title of 12(b) Security	Common stock, $0.10 par value
Trading Symbol	VPG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001487952
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,552,439
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,022,887

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 87,197	$ 86,910
Accounts receivable, net	40,743	43,198
Inventories:
Raw materials	22,899	21,701
Work in process	25,315	23,128
Finished goods	18,521	22,066
Inventories, net	66,735	66,895
Prepaid expenses and other current assets	16,046	15,558
Total current assets	210,721	212,561
Property and equipment, at cost:
Land	4,191	4,243
Buildings and improvements	52,200	52,708
Machinery and equipment	112,888	111,492
Software	9,586	9,384
Construction in progress	10,028	2,485
Accumulated depreciation	(122,893)	(119,042)
Property and equipment, net	66,000	61,270
Goodwill	34,588	35,018
Intangible assets, net	32,611	34,198
Operating lease right of use asset	22,401	8,691
Other assets	18,329	18,675
Total assets	384,650	370,413
Current liabilities:
Trade accounts payable	9,350	8,869
Payroll and related expenses	15,090	16,312
Other accrued expenses	16,984	16,126
Income taxes	1,766	261
Current portion of operating lease liabilities	3,924	2,827
Current portion of long-term debt	85	44,516
Total current liabilities	47,199	88,911
Long-term debt, less current portion	40,592	17
Deferred income taxes	3,477	3,478
Operating lease liabilities	19,032	5,811
Other liabilities	14,409	14,775
Accrued pension and other postretirement costs	15,701	15,669
Total liabilities	140,410	128,661
Commitments and contingencies
Equity:
Common stock	1,317	1,312
Treasury stock	(8,765)	(8,765)
Capital in excess of par value	197,134	197,125
Retained earnings	94,359	89,288
Accumulated other comprehensive loss	(40,084)	(37,703)
Total Vishay Precision Group, Inc. stockholders' equity	244,064	241,360
Noncontrolling interests	176	392
Total equity	244,240	241,752
Total liabilities and equity	384,650	370,413
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		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Income Statement [Abstract]
Net revenues	$ 59,146	$ 70,870	$ 126,842	$ 147,395
Costs of products sold	36,036	42,261	78,667	85,735
Gross profit	23,110	28,609	48,175	61,660
Selling, general, and administrative expenses	18,640	19,896	38,931	40,344
Executive severance costs	0	611	0	611
Restructuring costs	499	0	629	0
Operating income	3,971	8,102	8,615	20,705
Other income (expense):
Interest expense	(267)	(359)	(728)	(747)
Other	(1,273)	(160)	(590)	(932)
Other income (expense)	(1,540)	(519)	(1,318)	(1,679)
Income before taxes	2,431	7,583	7,297	19,026
Income tax expense	684	2,003	2,258	5,120
Net earnings	1,747	5,580	5,039	13,906
Less: net (loss) earnings attributable to noncontrolling interests	(12)	15	(32)	98
Net earnings attributable to VPG stockholders	$ 1,759	$ 5,565	$ 5,071	$ 13,808
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.13	$ 0.41	$ 0.37	$ 1.02
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.13	$ 0.41	$ 0.37	$ 1.02
Weighted average shares outstanding - basic (in shares)	13,571	13,518	13,556	13,506
Weighted average shares outstanding - diluted (in shares)	13,609	13,595	13,598	13,579

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,747	$ 5,580	$ 5,039	$ 13,906
Other comprehensive income (loss):
Foreign currency translation adjustment	3,271	370	(2,070)	951
Pension and other postretirement actuarial items, net of tax	(152)	80	(311)	185
Other comprehensive (loss) income	3,119	450	(2,381)	1,136
Comprehensive income	4,866	6,030	2,658	15,042
Less: comprehensive (loss) income attributable to noncontrolling interests	(12)	15	(32)	98
Comprehensive income attributable to VPG stockholders	$ 4,878	$ 6,015	$ 2,690	$ 14,944

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Operating activities
Net earnings	$ 5,039	$ 13,906
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	6,312	5,619
Loss from extinguishment of debt	30	0
Gain on disposal of property and equipment	(143)	(50)
Share-based compensation expense	757	1,086
Inventory write-offs for obsolescence	1,302	1,389
Deferred income taxes	(146)	379
Other	25	(2,753)
Net changes in operating assets and liabilities:
Accounts receivable, net	2,077	7,085
Inventories, net	(1,383)	(3,288)
Prepaid expenses and other current assets	(632)	(3,301)
Trade accounts payable	1,228	(645)
Other current liabilities	2,229	(2,396)
Net cash provided by operating activities	16,695	17,031
Investing activities
Capital expenditures	(11,018)	(5,764)
Proceeds from sale of property and equipment	378	214
Adjustment to purchase price of a business	156	0
Net cash used in investing activities	(10,484)	(5,550)
Financing activities
Principal payments on long-term debt	(66)	(2,311)
Repayments of principal upon termination of long-term borrowings	(3,352)	0
Debt issuance costs	(402)	0
Purchase of noncontrolling interest	(253)	0
Contributions from noncontrolling interests	117	2
Payments of employee taxes on certain share-based arrangements	(813)	(854)
Net cash used in financing activities	(4,769)	(3,163)
Effect of exchange rate changes on cash and cash equivalents	(1,155)	228
Increase in cash and cash equivalents	287	8,546
Cash and cash equivalents at beginning of period	86,910	90,159
Cash and cash equivalents at end of period	87,197	98,705
Supplemental disclosure of investing transactions:
Capital expenditures purchased	(10,290)	(4,992)
Capital expenditures accrued but not yet paid	455	1,077
Supplemental disclosure of financing transactions:
Non-cash extinguishment of long-term debt facility (see Note 7)	(7,020)	0
Non-cash refinancing of revolving facility (see Note 7)	7,020	0
Capital expenditures accrued but not yet paid	$ 455	$ 1,077

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Equity - USD ($) $ in Thousands	Total	Total VPG, Inc. Stockholders' Equity	Common Stock	Class B Convertible Common Stock	Treasury Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentTotal VPG, Inc. Stockholders' Equity	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained earnings										$ 531	$ 531	$ 531
Balance, beginning at Dec. 31, 2018	$ 218,453	$ 218,415	$ 1,307	$ 103	$ (8,765)	$ 196,666	$ 66,569	$ (37,465)	$ 38
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	13,906	13,808					13,808		98
Other comprehensive (loss) income	1,136	1,136						1,136
Share-based compensation expense	1,086	1,086				1,086
Restricted stock issuances	(872)	(872)	5			(877)
Contributions from noncontrolling interests	2								2
Balance, ending at Jun. 29, 2019	234,242	234,104	1,312	103	(8,765)	196,875	80,908	(36,329)	138
Balance, beginning at Mar. 30, 2019	227,878	227,791	1,311	103	(8,765)	196,578	75,343	(36,779)	87
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	5,580	5,565					5,565		15
Other comprehensive (loss) income	450	450						450
Share-based compensation expense	572	572				572
Restricted stock issuances	(274)	(274)	1			(275)
Contributions from noncontrolling interests	36								36
Balance, ending at Jun. 29, 2019	234,242	234,104	1,312	103	(8,765)	196,875	80,908	(36,329)	138
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained earnings	89,288
Balance, beginning at Dec. 31, 2019	241,752	241,360	1,312	103	(8,765)	197,125	89,288	(37,703)	392
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	5,039	5,071					5,071		(32)
Other comprehensive (loss) income	(2,381)	(2,381)						(2,381)
Share-based compensation expense	757	757				757
Restricted stock issuances	(791)	(791)	5			(796)
Purchase of noncontrolling interest	(253)	48				48			(301)
Contributions from noncontrolling interests	117								117
Balance, ending at Jun. 27, 2020	244,240	244,064	1,317	103	(8,765)	197,134	94,359	(40,084)	176
Balance, beginning at Mar. 28, 2020	239,107	238,760	1,316	103	(8,765)	196,709	92,600	(43,203)	347
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	1,747	1,759					1,759		(12)
Other comprehensive (loss) income	3,119	3,119						3,119
Share-based compensation expense	378	378				378
Restricted stock issuances	0	0	1			(1)
Purchase of noncontrolling interest	(253)	48				48			(301)
Contributions from noncontrolling interests	142								142
Balance, ending at Jun. 27, 2020	244,240	$ 244,064	$ 1,317	$ 103	$ (8,765)	$ 197,134	$ 94,359	$ (40,084)	$ 176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained earnings	$ 94,359

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Equity (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Common Stock
Restricted stock issuance (shares)	8,244	11,295	52,433	48,482

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 27, 2020
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, 2019 and 2018 and for each of the three years in the period ended December 31, 2019, included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 11, 2020. The results of operations for the fiscal quarter ended June 27, 2020 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 2020 and 2019 end on the following dates: 2020 2019 Quarter 1 March 28, March 30, Quarter 2 June 27, June 29, Quarter 3 September 26, September 28, Quarter 4 December 31, December 31, Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13, and subsequent related amendments to ASU 2016-13, replace the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. The Company maintains an allowance for credit losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance for credit losses, the Company considers historical loss data, customer specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. The Company adopted this ASU, effective January 1, 2020, using the modified retrospective approach, and the effect on the Company's consolidated condensed financial statements and related disclosures was not material. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurements (Topic 820)." This ASU modifies the disclosures on fair value measurements by removing the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of such transfers. The ASU expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income. The Company adopted this ASU effective January 1, 2020, and the effect on the Company's disclosures in its consolidated condensed financial statements was not material. Recent Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, "Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU amends Accounting Standards Codification ("ASC") 715 to add, remove and clarify disclosure requirements related to defined benefit and pension and other postretirement plans. The amendments in this ASU are effective for annual periods beginning after December 15, 2020 and early adoption is permitted. The Company is evaluating the standard to determine the impact on the consolidated condensed financial statements. In December 2019, the FASB issued ASU No. ASU 2019-12, "Simplifying the Accounting for Income Taxes". This ASU amends Accounting Standards Codification ("ASC") 740 by removing certain exceptions to the general principles, clarifying and amending existing guidance. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is evaluating the standard to determine the impact on the consolidated condensed financial statements. Reclassifications Certain prior year amounts have been reclassified to conform to the current financial statement presentation.

Revenues

Revenues	6 Months Ended
	Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue Recognition The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands) : Fiscal quarter ended Fiscal quarter ended Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 10,789 $ 4,113 $ 6,010 $ 20,912 $ 13,102 $ 8,497 $ 5,894 $ 27,493 United Kingdom 586 1,711 1,722 4,019 833 2,534 4,234 7,601 Other Europe 6,974 1,434 3,430 11,838 8,847 2,957 4,273 16,077 Israel 5,691 92 — 5,783 3,272 84 — 3,356 Asia 7,745 1,566 1,859 11,170 6,945 2,277 2,316 11,538 Canada — — 5,424 5,424 — — 4,805 4,805 Total $ 31,785 $ 8,916 $ 18,445 $ 59,146 $ 32,999 $ 16,349 $ 21,522 $ 70,870 Six Fiscal Months Ended June 27, 2020 Six Fiscal Months Ended June 29, 2019 Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 22,723 $ 12,505 $ 14,898 $ 50,126 $ 30,011 $ 16,549 $ 10,927 $ 57,487 United Kingdom 1,537 3,691 5,435 10,663 1,674 5,711 8,578 15,963 Other Europe 14,686 3,808 7,174 25,668 16,950 5,981 8,815 31,746 Israel 8,646 190 — 8,836 6,251 203 — 6,454 Asia 14,670 3,417 3,530 21,617 15,162 4,637 4,890 24,689 Canada — — 9,932 9,932 — — 11,056 11,056 Total $ 62,262 $ 23,611 $ 40,969 $ 126,842 $ 70,048 $ 33,081 $ 44,266 $ 147,395 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . The Company revised its market sector categories beginning in 2020. Prior year data has been reclassified to reflect the current market sectors. Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Test & Measurement $ 14,027 $ 17,980 $ 28,372 $ 35,601 Avionics, Military & Space 6,727 3,948 12,887 12,063 Transportation 5,188 10,440 13,432 20,059 Other Markets 12,192 12,548 25,320 25,472 Industrial Weighing 8,583 14,177 21,050 28,614 General Industrial 3,623 5,244 7,662 10,866 Steel 8,806 6,533 18,119 14,720 Total $ 59,146 $ 70,870 $ 126,842 $ 147,395 Contract Assets & Liabilities Contract assets are established when revenues are recognized prior to a contractual payment due from the customer. When a payment becomes due based on the contract terms, the Company will reduce the contract asset and record a receivable. Contract liabilities are deferred revenues that are recorded when cash payments are received or due in advance of our performance obligations. Our payment terms vary by the type and location of the products offered. The term between invoicing and when payment is due is not significant. The outstanding contract assets and liability accounts were as follows (in thousands) : Contract Asset Contract Liability Unbilled Revenue Accrued Customer Advances Balance at December 31, 2019 $ 3,937 $ 4,561 Balance at June 27, 2020 3,511 5,795 (Decrease)/increase $ (426) $ 1,234 The amount of revenue recognized during the six fiscal months ended June 27, 2020 that was included in the contract liability balance at December 31, 2019 was $3.7 million. Practical Expedients The Company does not disclose the value of unsatisfied performance obligations for contracts that have a duration of one year or less and for contracts that are substantially complete. The Company treats shipping and handling activities as fulfillment costs.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 27, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Dynamic Systems Inc. On November 1, 2019, VPG completed the acquisition of New York-based Dynamic Systems Inc. ("DSI"), a provider of specialized dynamic thermal-mechanical test and simulation systems used to develop new metal alloys and optimize production processes, for a purchase price of $40.3 million, subject to customary adjustments. During the second quarter of 2020, the Company received $0.2 million from escrow as a purchase price adjustment, resulting in a reduction of goodwill. Additionally, it was determined that an earn out, which was part of the purchase price, was not achieved. DSI reports into the Company's Weighing and Control Systems segment. The following table summarizes the preliminary fair values assigned to the assets and liabilities of DSI as of November 1, 2019 (in thousands): November 1, 2019 Adjustments Adjusted Working capital (a) $ 6,874 $ 6,874 Property and equipment 1,727 1,727 Long-term deferred income tax liability (4,321) (4,321) Non-controlling interest (299) (299) Intangible assets: Patents and acquired technology 10,250 10,250 Customer relationships 4,344 4,344 Trade names 3,300 3,300 Total intangible assets 17,894 — 17,894 Fair value of acquired identifiable assets 21,875 — 21,875 Purchase price $ 40,481 $ (156) $ 40,325 Goodwill $ 18,606 $ (156) $ 18,450 (a) Working capital accounts include accounts receivable, inventory, prepaid expenses, accounts payable, accrued expenses, and accrued payroll. The weighted average useful lives for the patents and acquired technology and customer relationships are 16 years, and 15 years, respectively. Most of the goodwill associated with DSI will be deductible for income tax purposes. The Company recorded acquisition costs associated with this transaction of $0.4 million during the fourth quarter of 2019. Following is the supplemental consolidated financial results for the Company on an unaudited pro forma basis, as if the DSI acquisition had been consummated on January 1, 2019: Fiscal quarter ended Six fiscal months ended June 29, 2019 June 29, 2019 Pro forma net revenues $ 74,199 $ 157,821 Pro forma net earnings attributable to VPG stockholders $ 5,304 $ 17,135 Pro forma basic earnings per share attributable to VPG stockholders $ 0.39 $ 1.27 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.39 $ 1.26

Goodwill

Goodwill	6 Months Ended
	Jun. 27, 2020
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 DSI Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2019 $ 35,018 $ 6,559 $ 18,606 $ 6,311 $ 3,542 Adjustment to purchase price $ (156) — (156) — — Foreign currency translation adjustment (274) (275) 1 — — Balance at June 27, 2020 $ 34,588 $ 6,284 $ 18,451 $ 6,311 $ 3,542

Leases

Leases	6 Months Ended
	Jun. 27, 2020
Leases [Abstract]
Leases	LeasesEffective January 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective method of applying the new standard at the adoption date. The Company determines if an arrangement is or contains a lease at inception or modification of such agreement. The arrangement is or contains a lease if the contract conveys the right to control the use of the identified asset for a period in exchange for consideration. Lease right of use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected term at commencement date. As the implicit rate is not determinable in most of the Company's leases, the Company's incremental borrowing rate is used as the basis to determine the present value of future lease payments. Refer to Note 7 for discussion of the Company's borrowing rate. The expected lease terms include options to extend or terminate. The period which is subject to an option to extend the lease is included in the lease term if it is reasonably certain that the option will be exercised. Some of these leases contain variable payment provisions that depend on an index or rate, initially measured using the index or rate at the lease commencement date and are therefore not included in our future minimum lease payments. Variable payments are expensed in the periods incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. Additionally, the Company elected the package of practical expedients permitted under the transition guidance, which allows the carryforward the historical lease classification. The Company also made an election to exclude from balance sheet reporting leases with initial terms of 12 months or less and to exclude non-lease components from lease right of use assets and corresponding liabilities. The Company primarily leases office and manufacturing facilities in addition to vehicles, which have remaining terms of less than one year to six years. The Company has no finance leases. One of the Company's indirect wholly-owned subsidiaries entered into a lease agreement as tenant related to a property in Israel. Such lease agreement provides that we will lease a new building containing approximately 121,400 square feet. The facility was made available to the Company during the second quarter of 2020, at which time the Company established an operating right of use asset and operating lease liability, with a lease term of 12.5 years, of $14.8 million, in accordance with the terms of the lease agreement. Leases recorded on the balance sheet consist of the following (in thousands) : Leases June 27, 2020 December 31, 2019 Assets Operating lease right of use asset $ 22,401 $ 8,691 Liabilities Operating lease - current $ 3,924 $ 2,827 Operating lease - non-current $ 19,032 $ 5,811 Other information related to lease term and discount rate is as follows: June 27, 2020 Operating leases weighted average remaining lease term (in years) 9.24 years Operating leases weighted average discount rate 3.71 % The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Operating lease cost $ 1,139 $ 812 $ 2,013 $ 1,635 Variable lease cost — 9 — 9 Short-term lease cost 34 32 57 59 Total lease cost $ 1,173 $ 853 $ 2,070 $ 1,703 Right of use assets obtained in exchange for new operating lease liability during 2020 were $15.3 million. The Company paid $1.7 million for its operating leases for each of the six fiscal months ended June 27, 2020 and June 29, 2019, which are included in operating cash flows on the consolidated condensed statements of cash flows. Undiscounted maturities of operating lease payments as of June 27, 2020 are summarized as follows (in thousands) : 2020 (excluding the six months ended June 27, 2020) $ 2,113 2021 4,198 2022 3,343 2023 2,804 2024 2,283 Thereafter 12,050 Total future minimum lease payments $ 26,791 Less: amount representing interest (3,835) Present value of future minimum lease payments $ 22,956

Income Taxes

Income Taxes	6 Months Ended
	Jun. 27, 2020
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 June 27, 2020 was 28.1% compared to 26.4% for the fiscal quarter ended June 29, 2019. The effective tax rate for the six fiscal months ended June 27, 2020 was 30.9% compared to 26.9% for the six fiscal months ended June 29, 2019. The tax rate in the current fiscal quarter is higher than the prior year fiscal quarter, primarily due to changes in the mix of worldwide income. The Company and its subsidiaries are subject to income taxes imposed by the U.S., various states, and the foreign jurisdictions in which we operate. Each jurisdiction establishes rules that set forth the years which are subject to examination by its tax authorities. While the Company believes the tax positions taken on its tax returns for each jurisdiction are supportable, they may still be challenged by the jurisdiction's tax authorities. In anticipation of such challenges, the Company has established reserves for tax-related uncertainties. These liabilities are based on the Company’s best estimate of the potential tax exposures in each respective jurisdiction. It may take a number of years for a final tax liability in a jurisdiction to be determined, particularly in the event of an audit. If an uncertain matter is determined favorably, there could be a reduction in the Company’s tax expense. An unfavorable determination could increase tax expense and could require a cash payment, including interest and penalties.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : June 27, 2020 December 31, 2019 2020 Credit Agreement - Revolving Facility $ 41,000 $ — 2015 Credit Agreement - Revolving Facility — 34,000 2015 Credit Agreement - U.S. Closing Date Term Facility — 2,038 2015 Credit Agreement - U.S. Delayed Draw Term Facility — 4,982 2015 Credit Agreement - Canadian Term Facility — 3,476 Other debt 85 149 Deferred financing costs (408) (112) Total long-term debt 40,677 44,533 Less: current portion 85 44,516 Long-term debt, less current portion $ 40,592 $ 17 2020 Credit Agreement On March 20, 2020, the Company entered into a Third Amended and Restated Credit Agreement (the “2020 Credit Agreement”) among the Company, the lenders, Citizens Bank, National Association and Wells Fargo Bank, National Association as joint lead arrangers and JPMorgan Chase Bank, National Association as agent for such lenders (the “Agent”), pursuant to which the terms of the Company’s multi-currency, secured credit facility was revised to provide a secured revolving facility (the “2020 Revolving Facility”) in an aggregate principal amount of $75.0 million, with a sublimit of $10.0 million which can be used for letters of credit for the account of the Company or its subsidiaries that are parties to the Credit Agreement, the proceeds of which may be used for working capital and general corporate purposes, and a portion of which were used to refinance the Company’s existing revolving credit facility in the amount of $34 million and the Company’s existing term loans as follows: (1) the “2015 U.S. Closing Date Term Facility” in an aggregate principal amount of $2.0 million; and (2) the "2015 U.S. Delayed Draw Term Facility" in an aggregate principal amount of $5.0 million. The aggregate principal amount of the 2020 Revolving Facility may be increased by a maximum of $25.0 million upon the request of the Company, subject to the terms of the 2020 Credit Agreement. The 2020 Credit Agreement terminates on March 20, 2025. Interest payable on amounts borrowed under the 2020 Revolving Facility is based upon, at the Company’s option, (1) the greatest of: the Agent’s prime rate, the Federal Funds rate, or a LIBOR floor (the “Base Rate”), or (2) LIBOR or CDOR plus a specified margin. An interest margin of 0.25% is added to Base Rate loans. Depending upon the Company’s leverage ratio, an interest rate margin ranging from 1.50% to 2.75% per annum is added to the applicable LIBOR or CDOR rate to determine the interest payable on the Libor or CDOR loans. The Company is required to pay a quarterly fee of 0.25% per annum to 0.40% per annum on the unused portion of the 2020 Revolving Facility, which is determined based on the Company’s leverage ratio each quarter. Additional customary fees apply with respect to letters of credit.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 27, 2020
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, 2020 $ (30,761) $ (6,942) $ (37,703) Other comprehensive loss before reclassifications (2,070) — (2,070) Amounts reclassified from accumulated other comprehensive income (loss) — (311) (311) Balance at June 27, 2020 $ (32,831) $ (7,253) $ (40,084) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2019 $ (31,319) $ (6,146) $ (37,465) Other comprehensive loss before reclassifications 951 — 951 Amounts reclassified from accumulated other comprehensive income (loss) — 185 185 Balance at June 29, 2019 $ (30,368) $ (5,961) $ (36,329)

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Jun. 27, 2020
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 $ 99 $ 31 $ 82 $ 31 Interest cost 127 33 157 45 Expected return on plan assets (109) — (132) — Amortization of actuarial losses 76 34 50 39 Net periodic benefit cost $ 193 $ 98 $ 157 $ 115 Six fiscal months ended June 27, 2020 Six fiscal months ended June 29, 2019 Pension OPEB Pension OPEB Net service cost $ 198 $ 62 $ 165 $ 62 Interest cost 256 $ 66 $ 314 $ 90 Expected return on plan assets (220) $ — $ (265) $ — Amortization of actuarial losses 153 $ 68 $ 100 $ 78 Net periodic benefit cost $ 387 $ 196 $ 314 $ 230

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Amended and Restated Vishay Precision Group, Inc. 2010 Stock Incentive Program (as amended and restated, the “Plan”) permits the issuance of up to 1,000,000 shares of common stock. At June 27, 2020, the Company had reserved 371,637 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 March 5, 2020, VPG’s three current executive officers 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 $1.2 million and were comprised of 44,269 RSUs. Twenty-five percent of these awards will vest on January 1, 2023, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2023, subject to the executives' continued employment and the satisfaction of certain performance objectives relating to three-year cumulative “adjusted free cash flow” and net earnings goals, each weighted equally. On March 16, 2020, 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 18,940 RSUs. Twenty-five percent of these awards will vest on January 1, 2023 subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2023, subject to the employees' continued employment and the satisfaction of certain performance objectives relating to three-year cumulative earnings and cash flow goals, each weighted equally. On May 21, 2020, the Board of Directors approved the issuance of an aggregate of 15,564 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 2021 Annual Stockholders Meeting or May 21, 2021, subject to the directors' continued service on the Board of Directors. Vesting of equity awards is subject to acceleration under certain circumstances. 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 Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Restricted stock units $ 378 $ 512 $ 757 $ 1,086

Segment Information

Segment Information	6 Months Ended
	Jun. 27, 2020
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 complete systems which include load cells and instrumentation for weighing, force control and force measurement for a variety of uses such as process control on-board weighing applications. VPG evaluates reporting segment performance based on multiple performance measures including third party net revenues, gross profits and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring costs, executive severance 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 Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net revenues: Foil Technology Products $ 31,785 $ 32,999 $ 62,262 $ 70,048 Force Sensors 8,916 16,349 23,611 33,081 Weighing and Control Systems 18,445 21,522 40,969 44,266 Total $ 59,146 $ 70,870 $ 126,842 $ 147,395 Gross profit: Foil Technology Products $ 13,286 $ 14,394 $ 24,487 $ 30,973 Force Sensors 1,038 4,392 4,610 9,453 Weighing and Control Systems 8,786 9,823 19,078 21,234 Total $ 23,110 $ 28,609 $ 48,175 $ 61,660 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 8,070 $ 8,619 $ 13,454 $ 18,925 Force Sensors (1,013) 2,039 191 4,574 Weighing and Control Systems 4,019 5,043 8,687 11,618 Unallocated G&A expenses (6,606) (6,988) (13,088) (13,801) Executive severance costs — (611) — (611) Restructuring costs (499) — (629) — Operating income $ 3,971 $ 8,102 $ 8,615 $ 20,705 Restructuring costs: Foil Technology Products $ (341) $ — $ (443) $ — Force Sensors $ (80) $ — $ (108) $ — Corporate/Other (78) — (78) — $ (499) $ — $ (629) $ — Executive severance costs: Corporate/Other $ — $ (611) $ — $ (611) $ — $ (611) $ — $ (611) Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. The table below summarizes intersegment sales (in thousands) : Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foil Technology Products to Force Sensors and Weighing and Control Systems $ 868 $ 1,074 $ 1,592 $ 2,007 Force Sensors to Foil Technology Products and Weighing and Control Systems $ — $ 184 $ — $ 611 Weighing and Control Systems to Foil Technology Products and Force Sensors $ 124 $ 146 $ 211 $ 298

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 27, 2020
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 Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 1,759 $ 5,565 $ 5,071 $ 13,808 Denominator: Denominator for basic earnings per share: Weighted average shares 13,571 13,518 13,556 13,506 Effect of dilutive securities: Restricted stock units 38 77 42 73 Dilutive potential common shares 38 77 42 73 Denominator for diluted earnings per share: Adjusted weighted average shares 13,609 13,595 13,598 13,579 Basic earnings per share attributable to VPG stockholders $ 0.13 $ 0.41 $ 0.37 $ 1.02 Diluted earnings per share attributable to VPG stockholders $ 0.13 $ 0.41 $ 0.37 $ 1.02

Additional Financial Statement

Additional Financial Statement Information	6 Months Ended
	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Statement Information	Additional Financial Statement Information Other Income (Expense) Other The caption “Other” on the consolidated condensed statements of operations consists of the following (in thousands) : Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foreign exchange gain (loss) $ (1,185) $ (318) $ (285) $ (1,054) Interest income 109 183 176 338 Pension expense (164) (159) (323) (317) Other (33) 134 (158) 101 $ (1,273) $ (160) $ (590) $ (932) Foreign currency exchange gains and losses represent the impact of changes in foreign currency exchange rates. For the fiscal quarter and six fiscal months ended June 27, 2020, the change in foreign exchange gains and losses during the period, as compared to the prior year period, is largely due to exposure to currency fluctuations with the Canadian dollar, the Israeli Shekel, and the British pound. Executive Severance Costs During the second fiscal quarter of 2019, the Company recorded $0.6 million of severance costs associated with the resignation of an executive office of the Company. The severance costs consisted of payments and other benefits as specified in the executive officer's resignation agreement.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 27, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements 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 June 27, 2020 Assets Assets held in rabbi trusts $ 5,047 $ 99 $ 4,948 $ — December 31, 2019 Assets Assets held in rabbi trusts $ 5,169 $ 53 $ 5,116 $ — 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 June 27, 2020 and December 31, 2019, 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 June 27, 2020 and December 31, 2019 approximates its carrying value. The revolving debt and term loans are reset on a quarterly basis based on current market rates, plus a base rate as specified in the corresponding debt agreements. 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.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jun. 27, 2020
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs Restructuring costs reflect the cost reduction programs implemented by the Company. Restructuring costs are expensed during the period in which the Company determines it will incur those costs and all requirements for accrual are met. Because these costs are recorded based upon estimates, actual expenditures for the restructuring activities may differ from the initially recorded costs. If the initial estimates are too low or too high, the Company could be required to either record additional expense in future periods or to reverse part of the previously recorded charges. The Company recorded $0.5 million and $0.0 million of restructuring costs during the fiscal quarter ended June 27, 2020 and June 29, 2019, respectively, and $0.6 million and $0.0 million for the six fiscal months ended June 27, 2020 and June 29, 2019, respectively. Restructuring costs were comprised primarily of employee terminations costs, including severance and statutory retirement allowances, and were incurred in connections with various cost reduction programs. The following table summarizes recent activity related to all restructuring programs. The accrued restructuring liability balance as of June 27, 2020 and December 31, 2019, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2019 $ 604 Restructuring charges in 2020 629 Cash payments (823) Foreign currency translation (7) Balance at June 27, 2020 $ 403

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13, and subsequent related amendments to ASU 2016-13, replace the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. The Company maintains an allowance for credit losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance for credit losses, the Company considers historical loss data, customer specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. The Company adopted this ASU, effective January 1, 2020, using the modified retrospective approach, and the effect on the Company's consolidated condensed financial statements and related disclosures was not material. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurements (Topic 820)." This ASU modifies the disclosures on fair value measurements by removing the requirements to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of such transfers. The ASU expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income. The Company adopted this ASU effective January 1, 2020, and the effect on the Company's disclosures in its consolidated condensed financial statements was not material. Recent Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, "Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU amends Accounting Standards Codification ("ASC") 715 to add, remove and clarify disclosure requirements related to defined benefit and pension and other postretirement plans. The amendments in this ASU are effective for annual periods beginning after December 15, 2020 and early adoption is permitted. The Company is evaluating the standard to determine the impact on the consolidated condensed financial statements. In December 2019, the FASB issued ASU No. ASU 2019-12, "Simplifying the Accounting for Income Taxes". This ASU amends Accounting Standards Codification ("ASC") 740 by removing certain exceptions to the general principles, clarifying and amending existing guidance. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is evaluating the standard to determine the impact on the consolidated condensed financial statements.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current financial statement presentation.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Fiscal Quarters	The four fiscal quarters in 2020 and 2019 end on the following dates: 2020 2019 Quarter 1 March 28, March 30, Quarter 2 June 27, June 29, Quarter 3 September 26, September 28, Quarter 4 December 31, December 31,

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands) : Fiscal quarter ended Fiscal quarter ended Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 10,789 $ 4,113 $ 6,010 $ 20,912 $ 13,102 $ 8,497 $ 5,894 $ 27,493 United Kingdom 586 1,711 1,722 4,019 833 2,534 4,234 7,601 Other Europe 6,974 1,434 3,430 11,838 8,847 2,957 4,273 16,077 Israel 5,691 92 — 5,783 3,272 84 — 3,356 Asia 7,745 1,566 1,859 11,170 6,945 2,277 2,316 11,538 Canada — — 5,424 5,424 — — 4,805 4,805 Total $ 31,785 $ 8,916 $ 18,445 $ 59,146 $ 32,999 $ 16,349 $ 21,522 $ 70,870 Six Fiscal Months Ended June 27, 2020 Six Fiscal Months Ended June 29, 2019 Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 22,723 $ 12,505 $ 14,898 $ 50,126 $ 30,011 $ 16,549 $ 10,927 $ 57,487 United Kingdom 1,537 3,691 5,435 10,663 1,674 5,711 8,578 15,963 Other Europe 14,686 3,808 7,174 25,668 16,950 5,981 8,815 31,746 Israel 8,646 190 — 8,836 6,251 203 — 6,454 Asia 14,670 3,417 3,530 21,617 15,162 4,637 4,890 24,689 Canada — — 9,932 9,932 — — 11,056 11,056 Total $ 62,262 $ 23,611 $ 40,969 $ 126,842 $ 70,048 $ 33,081 $ 44,266 $ 147,395 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . The Company revised its market sector categories beginning in 2020. Prior year data has been reclassified to reflect the current market sectors. Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Test & Measurement $ 14,027 $ 17,980 $ 28,372 $ 35,601 Avionics, Military & Space 6,727 3,948 12,887 12,063 Transportation 5,188 10,440 13,432 20,059 Other Markets 12,192 12,548 25,320 25,472 Industrial Weighing 8,583 14,177 21,050 28,614 General Industrial 3,623 5,244 7,662 10,866 Steel 8,806 6,533 18,119 14,720 Total $ 59,146 $ 70,870 $ 126,842 $ 147,395
Contract with Customer, Asset and Liability	The outstanding contract assets and liability accounts were as follows (in thousands) : Contract Asset Contract Liability Unbilled Revenue Accrued Customer Advances Balance at December 31, 2019 $ 3,937 $ 4,561 Balance at June 27, 2020 3,511 5,795 (Decrease)/increase $ (426) $ 1,234

Acquisition Activity (Tables)

Acquisition Activity (Tables)	6 Months Ended
	Jun. 27, 2020
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair values assigned to the assets and liabilities of DSI as of November 1, 2019 (in thousands): November 1, 2019 Adjustments Adjusted Working capital (a) $ 6,874 $ 6,874 Property and equipment 1,727 1,727 Long-term deferred income tax liability (4,321) (4,321) Non-controlling interest (299) (299) Intangible assets: Patents and acquired technology 10,250 10,250 Customer relationships 4,344 4,344 Trade names 3,300 3,300 Total intangible assets 17,894 — 17,894 Fair value of acquired identifiable assets 21,875 — 21,875 Purchase price $ 40,481 $ (156) $ 40,325 Goodwill $ 18,606 $ (156) $ 18,450
Business Acquisition, Pro Forma Information	Following is the supplemental consolidated financial results for the Company on an unaudited pro forma basis, as if the DSI acquisition had been consummated on January 1, 2019: Fiscal quarter ended Six fiscal months ended June 29, 2019 June 29, 2019 Pro forma net revenues $ 74,199 $ 157,821 Pro forma net earnings attributable to VPG stockholders $ 5,304 $ 17,135 Pro forma basic earnings per share attributable to VPG stockholders $ 0.39 $ 1.27 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.39 $ 1.26

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 27, 2020
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 DSI Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2019 $ 35,018 $ 6,559 $ 18,606 $ 6,311 $ 3,542 Adjustment to purchase price $ (156) — (156) — — Foreign currency translation adjustment (274) (275) 1 — — Balance at June 27, 2020 $ 34,588 $ 6,284 $ 18,451 $ 6,311 $ 3,542

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 27, 2020
Leases [Abstract]
Leases Recorded on the Balance Sheet	Leases recorded on the balance sheet consist of the following (in thousands) : Leases June 27, 2020 December 31, 2019 Assets Operating lease right of use asset $ 22,401 $ 8,691 Liabilities Operating lease - current $ 3,924 $ 2,827 Operating lease - non-current $ 19,032 $ 5,811
Other Information Related to Lease Term and Discount Rate	Other information related to lease term and discount rate is as follows: June 27, 2020 Operating leases weighted average remaining lease term (in years) 9.24 years Operating leases weighted average discount rate 3.71 %
Components of Lease Expense	The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Operating lease cost $ 1,139 $ 812 $ 2,013 $ 1,635 Variable lease cost — 9 — 9 Short-term lease cost 34 32 57 59 Total lease cost $ 1,173 $ 853 $ 2,070 $ 1,703
Maturities of Operating Lease Liabilities	Undiscounted maturities of operating lease payments as of June 27, 2020 are summarized as follows (in thousands) : 2020 (excluding the six months ended June 27, 2020) $ 2,113 2021 4,198 2022 3,343 2023 2,804 2024 2,283 Thereafter 12,050 Total future minimum lease payments $ 26,791 Less: amount representing interest (3,835) Present value of future minimum lease payments $ 22,956

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : June 27, 2020 December 31, 2019 2020 Credit Agreement - Revolving Facility $ 41,000 $ — 2015 Credit Agreement - Revolving Facility — 34,000 2015 Credit Agreement - U.S. Closing Date Term Facility — 2,038 2015 Credit Agreement - U.S. Delayed Draw Term Facility — 4,982 2015 Credit Agreement - Canadian Term Facility — 3,476 Other debt 85 149 Deferred financing costs (408) (112) Total long-term debt 40,677 44,533 Less: current portion 85 44,516 Long-term debt, less current portion $ 40,592 $ 17

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 27, 2020
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, 2020 $ (30,761) $ (6,942) $ (37,703) Other comprehensive loss before reclassifications (2,070) — (2,070) Amounts reclassified from accumulated other comprehensive income (loss) — (311) (311) Balance at June 27, 2020 $ (32,831) $ (7,253) $ (40,084) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2019 $ (31,319) $ (6,146) $ (37,465) Other comprehensive loss before reclassifications 951 — 951 Amounts reclassified from accumulated other comprehensive income (loss) — 185 185 Balance at June 29, 2019 $ (30,368) $ (5,961) $ (36,329)

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 27, 2020
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 $ 99 $ 31 $ 82 $ 31 Interest cost 127 33 157 45 Expected return on plan assets (109) — (132) — Amortization of actuarial losses 76 34 50 39 Net periodic benefit cost $ 193 $ 98 $ 157 $ 115 Six fiscal months ended June 27, 2020 Six fiscal months ended June 29, 2019 Pension OPEB Pension OPEB Net service cost $ 198 $ 62 $ 165 $ 62 Interest cost 256 $ 66 $ 314 $ 90 Expected return on plan assets (220) $ — $ (265) $ — Amortization of actuarial losses 153 $ 68 $ 100 $ 78 Net periodic benefit cost $ 387 $ 196 $ 314 $ 230

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The following table summarizes share-based compensation expense recognized (in thousands) : Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Restricted stock units $ 378 $ 512 $ 757 $ 1,086

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 27, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands) : Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net revenues: Foil Technology Products $ 31,785 $ 32,999 $ 62,262 $ 70,048 Force Sensors 8,916 16,349 23,611 33,081 Weighing and Control Systems 18,445 21,522 40,969 44,266 Total $ 59,146 $ 70,870 $ 126,842 $ 147,395 Gross profit: Foil Technology Products $ 13,286 $ 14,394 $ 24,487 $ 30,973 Force Sensors 1,038 4,392 4,610 9,453 Weighing and Control Systems 8,786 9,823 19,078 21,234 Total $ 23,110 $ 28,609 $ 48,175 $ 61,660 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 8,070 $ 8,619 $ 13,454 $ 18,925 Force Sensors (1,013) 2,039 191 4,574 Weighing and Control Systems 4,019 5,043 8,687 11,618 Unallocated G&A expenses (6,606) (6,988) (13,088) (13,801) Executive severance costs — (611) — (611) Restructuring costs (499) — (629) — Operating income $ 3,971 $ 8,102 $ 8,615 $ 20,705 Restructuring costs: Foil Technology Products $ (341) $ — $ (443) $ — Force Sensors $ (80) $ — $ (108) $ — Corporate/Other (78) — (78) — $ (499) $ — $ (629) $ — Executive severance costs: Corporate/Other $ — $ (611) $ — $ (611) $ — $ (611) $ — $ (611) Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. The table below summarizes intersegment sales (in thousands) : Fiscal quarter ended Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foil Technology Products to Force Sensors and Weighing and Control Systems $ 868 $ 1,074 $ 1,592 $ 2,007 Force Sensors to Foil Technology Products and Weighing and Control Systems $ — $ 184 $ — $ 611 Weighing and Control Systems to Foil Technology Products and Force Sensors $ 124 $ 146 $ 211 $ 298

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 27, 2020
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 Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 1,759 $ 5,565 $ 5,071 $ 13,808 Denominator: Denominator for basic earnings per share: Weighted average shares 13,571 13,518 13,556 13,506 Effect of dilutive securities: Restricted stock units 38 77 42 73 Dilutive potential common shares 38 77 42 73 Denominator for diluted earnings per share: Adjusted weighted average shares 13,609 13,595 13,598 13,579 Basic earnings per share attributable to VPG stockholders $ 0.13 $ 0.41 $ 0.37 $ 1.02 Diluted earnings per share attributable to VPG stockholders $ 0.13 $ 0.41 $ 0.37 $ 1.02

Additional Financial Statemen_2

Additional Financial Statement Information (Tables)	6 Months Ended
	Jun. 27, 2020
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 Six fiscal months ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foreign exchange gain (loss) $ (1,185) $ (318) $ (285) $ (1,054) Interest income 109 183 176 338 Pension expense (164) (159) (323) (317) Other (33) 134 (158) 101 $ (1,273) $ (160) $ (590) $ (932)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 27, 2020
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 June 27, 2020 Assets Assets held in rabbi trusts $ 5,047 $ 99 $ 4,948 $ — December 31, 2019 Assets Assets held in rabbi trusts $ 5,169 $ 53 $ 5,116 $ —

Restructuring Costs (Tables)

Restructuring Costs (Tables)	6 Months Ended
	Jun. 27, 2020
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 June 27, 2020 and December 31, 2019, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2019 $ 604 Restructuring charges in 2020 629 Cash payments (823) Foreign currency translation (7) Balance at June 27, 2020 $ 403

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 59,146	$ 70,870	$ 126,842	$ 147,395
United States
Disaggregation of Revenue [Line Items]
Total revenue	20,912	27,493	50,126	57,487
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	4,019	7,601	10,663	15,963
Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	11,838	16,077	25,668	31,746
Israel
Disaggregation of Revenue [Line Items]
Total revenue	5,783	3,356	8,836	6,454
Asia
Disaggregation of Revenue [Line Items]
Total revenue	11,170	11,538	21,617	24,689
Canada
Disaggregation of Revenue [Line Items]
Total revenue	5,424	4,805	9,932	11,056
Foil Technology Products
Disaggregation of Revenue [Line Items]
Total revenue	31,785	32,999	62,262	70,048
Foil Technology Products | United States
Disaggregation of Revenue [Line Items]
Total revenue	10,789	13,102	22,723	30,011
Foil Technology Products | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	586	833	1,537	1,674
Foil Technology Products | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	6,974	8,847	14,686	16,950
Foil Technology Products | Israel
Disaggregation of Revenue [Line Items]
Total revenue	5,691	3,272	8,646	6,251
Foil Technology Products | Asia
Disaggregation of Revenue [Line Items]
Total revenue	7,745	6,945	14,670	15,162
Foil Technology Products | Canada
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Force Sensors
Disaggregation of Revenue [Line Items]
Total revenue	8,916	16,349	23,611	33,081
Force Sensors | United States
Disaggregation of Revenue [Line Items]
Total revenue	4,113	8,497	12,505	16,549
Force Sensors | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	1,711	2,534	3,691	5,711
Force Sensors | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	1,434	2,957	3,808	5,981
Force Sensors | Israel
Disaggregation of Revenue [Line Items]
Total revenue	92	84	190	203
Force Sensors | Asia
Disaggregation of Revenue [Line Items]
Total revenue	1,566	2,277	3,417	4,637
Force Sensors | Canada
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Weighing and Control Systems
Disaggregation of Revenue [Line Items]
Total revenue	18,445	21,522	40,969	44,266
Weighing and Control Systems | United States
Disaggregation of Revenue [Line Items]
Total revenue	6,010	5,894	14,898	10,927
Weighing and Control Systems | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	1,722	4,234	5,435	8,578
Weighing and Control Systems | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	3,430	4,273	7,174	8,815
Weighing and Control Systems | Israel
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Weighing and Control Systems | Asia
Disaggregation of Revenue [Line Items]
Total revenue	1,859	2,316	3,530	4,890
Weighing and Control Systems | Canada
Disaggregation of Revenue [Line Items]
Total revenue	$ 5,424	$ 4,805	$ 9,932	$ 11,056

Revenues - Disaggregation of _2

Revenues - Disaggregation of Revenue by Market Sector (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 59,146	$ 70,870	$ 126,842	$ 147,395
Test & Measurement
Disaggregation of Revenue [Line Items]
Total revenue	14,027	17,980	28,372	35,601
Avionics, Military & Space
Disaggregation of Revenue [Line Items]
Total revenue	6,727	3,948	12,887	12,063
Transportation
Disaggregation of Revenue [Line Items]
Total revenue	5,188	10,440	13,432	20,059
Other Markets
Disaggregation of Revenue [Line Items]
Total revenue	12,192	12,548	25,320	25,472
Industrial Weighing
Disaggregation of Revenue [Line Items]
Total revenue	8,583	14,177	21,050	28,614
General Industrial
Disaggregation of Revenue [Line Items]
Total revenue	3,623	5,244	7,662	10,866
Steel
Disaggregation of Revenue [Line Items]
Total revenue	$ 8,806	$ 6,533	$ 18,119	$ 14,720

Revenues - Contract Assets and

Revenues - Contract Assets and Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 27, 2020USD ($)
Movement in Contract Assets and Liabilities [Roll Forward]
Contract Asset, beginning balance	$ 3,937
Decrease in contract asset	(426)
Contract Asset, ending balance	3,511
Contract liability, beginning balance	4,561
Increase in contract liability	1,234
Contract liability, ending balance	$ 5,795

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 27, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Contract with customer, revenue recognized	$ 3.7

Acquisition Activity (Narrative

Acquisition Activity (Narrative) (Details) - Dynamic Systems Inc. - USD ($) $ in Thousands	Jun. 27, 2020	Nov. 01, 2019	Jun. 27, 2020	Dec. 31, 2019	Jun. 27, 2020
Business Acquisition [Line Items]
Purchase price	$ 40,325	$ 40,481
Adjustment to consideration transferred			$ (200)		$ (156)
Acquisition related costs				$ 400
Patents and acquired technology
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average useful lives		16 years
Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average useful lives		15 years

Acquisition Activity (Schedule

Acquisition Activity (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jun. 27, 2020	Nov. 01, 2019	Jun. 27, 2020	Jun. 27, 2020	Jun. 27, 2020	Dec. 31, 2019
Intangible assets:
Goodwill, purchase accounting adjustments				$ (156)
Goodwill	$ 34,588		$ 34,588	34,588	$ 34,588	$ 35,018
Dynamic Systems Inc.
Business Acquisition [Line Items]
Working capital	6,874	$ 6,874	6,874	6,874	6,874
Property and equipment	1,727	1,727	1,727	1,727	1,727
Long-term deferred income tax liability	(4,321)	(4,321)	(4,321)	(4,321)	(4,321)
Non-controlling interest	(299)	(299)	(299)	(299)	(299)
Intangible assets:
Total intangible assets	17,894	17,894	17,894	17,894	17,894
Fair value of acquired identifiable assets	21,875	21,875	21,875	21,875	21,875
Adjustment to consideration transferred			(200)		(156)
Goodwill, purchase accounting adjustments					(156)
Purchase price	40,325	40,481
Goodwill	18,450	18,606	18,450	18,450	18,450
Dynamic Systems Inc. | Trade names
Intangible assets:
Total intangible assets	3,300	3,300	3,300	3,300	3,300
Dynamic Systems Inc. | Patents and acquired technology
Intangible assets:
Total intangible assets	10,250	10,250	10,250	10,250	10,250
Dynamic Systems Inc. | Customer relationships
Intangible assets:
Total intangible assets	$ 4,344	$ 4,344	$ 4,344	$ 4,344	$ 4,344

Acquisitions (Pro Forma Informa

Acquisitions (Pro Forma Information) (Details) - Dynamic Systems Inc. - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net revenues	$ 74,199	$ 157,821
Pro forma net earnings attributable to VPG stockholders	$ 5,304	$ 17,135
Pro forma basic earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.39	$ 1.27
Pro forma diluted earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.39	$ 1.26

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	8 Months Ended
	Jun. 27, 2020	Jun. 27, 2020
Goodwill [Roll Forward]
Beginning balance	$ 35,018
Adjustment to purchase price	(156)
Foreign currency translation adjustment	(274)
Ending balance	34,588	$ 34,588
KELK Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,559
Adjustment to purchase price	0
Foreign currency translation adjustment	(275)
Ending balance	6,284	6,284
DSI Acquisition
Goodwill [Roll Forward]
Adjustment to purchase price		(156)
Ending balance	18,450	18,450
DSI Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	18,606
Adjustment to purchase price	(156)
Foreign currency translation adjustment	1
Ending balance	18,451	18,451
Stress-Tek Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,311
Adjustment to purchase price	0
Foreign currency translation adjustment	0
Ending balance	6,311	6,311
Pacific Acquisition | Foil Technology Products Segment
Goodwill [Roll Forward]
Beginning balance	3,542
Adjustment to purchase price	0
Foreign currency translation adjustment	0
Ending balance	$ 3,542	$ 3,542

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 27, 2020USD ($)ft²	Jun. 29, 2019USD ($)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease right of use asset	$ 22,401		$ 8,691
Operating lease, liability	22,956
Right-of-use asset obtained in exchange for operating lease liability	15,300
Operating lease, payments	$ 1,700	$ 1,700
Israel
Lessee, Lease, Description [Line Items]
Area of land (in sq ft) | ft²	121,400
Lessee, operating lease, term	12 years 6 months
Operating lease right of use asset	$ 14,800
Operating lease, liability	$ 14,800
Buildings and Vehicles | Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term (years)	1 year
Buildings and Vehicles | Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term (years)	6 years

Leases - Leases Recorded on the

Leases - Leases Recorded on the Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right of use asset	$ 22,401	$ 8,691
Operating lease - current	3,924	2,827
Operating lease - non-current	$ 19,032	$ 5,811

Leases - Other Information Rela

Leases - Other Information Related to Leases (Details)	Jun. 27, 2020
Leases [Abstract]
Operating leases weighted average remaining lease term (years)	9 years 2 months 26 days
Operating leases weighted average discount rate (percent)	3.71%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Leases [Abstract]
Operating lease cost	$ 1,139	$ 812	$ 2,013	$ 1,635
Variable lease cost	0	9	0	9
Short-term lease cost	34	32	57	59
Total lease cost	$ 1,173	$ 853	$ 2,070	$ 1,703

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 27, 2020USD ($)
Leases [Abstract]
2020 (excluding the six months ended June 27, 2020)	$ 2,113
2021	4,198
2022	3,343
2023	2,804
2024	2,283
Thereafter	12,050
Total future minimum lease payments	26,791
Less: amount representing interest	(3,835)
Present value of future minimum lease payments	$ 22,956

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	28.10%	26.40%	30.90%	26.90%

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Other Long-term Debt	$ 85	$ 149
Deferred financing costs	(408)	(112)
Total long-term debt	40,677	44,533
Less: current portion	85	44,516
Long-term debt, less current portion	40,592	17
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Secured debt	41,000	0
Revolving Credit Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	0	34,000
U.S. Closing Date Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	0	2,038
U.S. Delayed Draw Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	0	4,982
Canadian Term Facilities | Credit Agreement 2015
Debt Instrument [Line Items]
Secured debt	$ 0	$ 3,476

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Mar. 20, 2020	Jun. 27, 2020	Jun. 29, 2019
Debt Instrument [Line Items]
Repayment of long-term debt		$ 66,000	$ 2,311,000
Credit Agreement 2020
Debt Instrument [Line Items]
Line of credit facility, accordion feature, increase limit	$ 25,000,000
Credit Agreement 2020 | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Credit Agreement 2020 | LIBOR Or CDOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Fee on unused capacity (percentage)	0.25%
Credit Agreement 2020 | LIBOR Or CDOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Fee on unused capacity (percentage)	0.40%
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Aggregate principal	$ 75,000,000
Revolving Credit Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Repayment of long-term debt	34,000,000
Letter of Credit | Credit Agreement 2020
Debt Instrument [Line Items]
Aggregate principal	10,000,000
U.S. Closing Date Term Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Repayment of long-term debt	2,000,000
U.S. Delayed Draw Facility | Credit Agreement 2015
Debt Instrument [Line Items]
Aggregate principal	$ 5,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 241,752	$ 218,453
Other comprehensive loss before reclassifications	(2,070)	951
Amounts reclassified from accumulated other comprehensive income (loss)	(311)	185
Balance, ending	244,240	234,242
Total
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(37,703)	(37,465)
Balance, ending	(40,084)	(36,329)
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(30,761)	(31,319)
Other comprehensive loss before reclassifications	(2,070)	951
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	(32,831)	(30,368)
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(6,942)	(6,146)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	(311)	185
Balance, ending	$ (7,253)	$ (5,961)

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits (Schedule of Net Pension and Other Retirement Plan Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 99	$ 82	$ 198	$ 165
Interest cost	127	157	256	314
Expected return on plan assets	(109)	(132)	(220)	(265)
Amortization of actuarial losses	76	50	153	100
Net periodic benefit cost	193	157	387	314
Other Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net service cost	31	31	62	62
Interest cost	33	45	66	90
Expected return on plan assets	0	0	0	0
Amortization of actuarial losses	34	39	68	78
Net periodic benefit cost	$ 98	$ 115	$ 196	$ 230

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ in Millions	May 21, 2020USD ($)shares	Mar. 16, 2020USD ($)shares	Mar. 05, 2020USD ($)peopleshares	Jun. 27, 2020shares
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 (in shares)				371,637
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of people granted awards (people) | people			3
Percentage of performance based units on total units approved		75.00%	75.00%
Weighted average grant date fair value | $	$ 0.3	$ 0.4	$ 1.2
Number of RSUs granted (in shares)	15,564	18,940	44,269
Award vesting period (in years)		3 years	3 years
Restricted Stock Units (RSUs) | Vesting on January 1, 2023
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		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Share-based Payment Arrangement [Abstract]
Restricted stock units	$ 378	$ 512	$ 757	$ 1,086

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 27, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Information [Line Items]
Net revenues	$ 59,146	$ 70,870	$ 126,842	$ 147,395
Gross profit	23,110	28,609	48,175	61,660
Segment operating income	3,971	8,102	8,615	20,705
Executive severance costs	0	(611)	0	(611)
Restructuring costs	(499)	0	(629)	0
Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	31,785	32,999	62,262	70,048
Restructuring costs	(341)	0	(443)	0
Force Sensors
Segment Reporting Information [Line Items]
Net revenues	8,916	16,349	23,611	33,081
Restructuring costs	(80)	0	(108)	0
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	18,445	21,522	40,969	44,266
Corporate/Other
Segment Reporting Information [Line Items]
Executive severance costs	0	(611)	0	(611)
Restructuring costs	(78)	0	(78)	0
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	59,146	70,870	126,842	147,395
Gross profit	23,110	28,609	48,175	61,660
Operating Segments | Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	31,785	32,999	62,262	70,048
Gross profit	13,286	14,394	24,487	30,973
Segment operating income	8,070	8,619	13,454	18,925
Operating Segments | Force Sensors
Segment Reporting Information [Line Items]
Net revenues	8,916	16,349	23,611	33,081
Gross profit	1,038	4,392	4,610	9,453
Segment operating income	(1,013)	2,039	191	4,574
Operating Segments | Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	18,445	21,522	40,969	44,266
Gross profit	8,786	9,823	19,078	21,234
Segment operating income	4,019	5,043	8,687	11,618
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(6,606)	(6,988)	(13,088)	(13,801)
Executive severance costs	0	(611)	0	(611)
Restructuring costs	$ (499)	$ 0	$ (629)	$ 0

Segment Information (Intersegme

Segment Information (Intersegment Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 59,146	$ 70,870	$ 126,842	$ 147,395
Foil Technology Products
Segment Reporting Information [Line Items]
Total revenue	31,785	32,999	62,262	70,048
Foil Technology Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	868	1,074	1,592	2,007
Force Sensors
Segment Reporting Information [Line Items]
Total revenue	8,916	16,349	23,611	33,081
Force Sensors | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	0	184	0	611
Weighing and Control Systems
Segment Reporting Information [Line Items]
Total revenue	18,445	21,522	40,969	44,266
Weighing and Control Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	$ 124	$ 146	$ 211	$ 298

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		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Numerator:
Net earnings attributable to VPG stockholders	$ 1,759	$ 5,565	$ 5,071	$ 13,808
Denominator:
Weighted average shares (in shares)	13,571	13,518	13,556	13,506
Effect of dilutive securities:
Restricted stock units (in shares)	38	77	42	73
Dilutive potential common shares	38	77	42	73
Denominator for diluted earnings per share:
Adjusted weighted average shares (in shares)	13,609	13,595	13,598	13,579
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.13	$ 0.41	$ 0.37	$ 1.02
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.13	$ 0.41	$ 0.37	$ 1.02

Additional Financial Statemen_3

Additional Financial Statement Information (Schedule of Other Items in Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange gain (loss)	$ (1,185)	$ (318)	$ (285)	$ (1,054)
Interest income	109	183	176	338
Pension expense	(164)	(159)	(323)	(317)
Other	(33)	134	(158)	101
Other nonoperating income (expense)	$ (1,273)	$ (160)	$ (590)	$ (932)

Additional Financial Statemen_4

Additional Financial Statement Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Executive severance costs	$ 0	$ 611	$ 0	$ 611

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities at Fair Value, Recurring) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 5,047	$ 5,169
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	99	53
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	4,948	5,116
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 0	$ 0

Restructuring Costs (Narrative)

Restructuring Costs (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 499	$ 0	$ 629	$ 0

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring Reserve [Roll Forward]
Restructuring costs	$ 499	$ 0	$ 629	$ 0
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			604
Restructuring costs			629
Cash payments			(823)
Foreign currency translation			(7)
Restructuring reserve, ending balance	$ 403		$ 403

Uncategorized Items - vpg-20200

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201602Member