Vishay Precision (VPG) 10-Q 10 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 03, 2021	Aug. 10, 2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 3, 2021
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	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,602,755
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,022,887

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 73,456	$ 98,438
Accounts receivable, net	51,818	45,339
Inventories:
Raw materials	25,858	21,894
Work in process	27,560	21,534
Finished goods	24,060	18,920
Inventories, net	77,478	62,348
Prepaid expenses and other current assets	15,698	15,761
Total current assets	218,450	221,886
Property and equipment:
Land	4,269	4,282
Buildings and improvements	68,118	67,581
Machinery and equipment	118,543	115,717
Software	9,431	10,026
Construction in progress	3,807	6,341
Accumulated depreciation	(127,611)	(128,931)
Property and equipment, net	76,557	75,016
Goodwill	45,732	31,105
Intangible assets, net	54,474	32,039
Operating lease right of use asset	25,451	21,788
Other assets	19,633	20,053
Total assets	440,297	401,887
Current liabilities:
Trade accounts payable	11,061	10,487
Payroll and related expenses	16,818	17,595
Other accrued expenses	18,138	13,843
Income taxes	969	1,593
Current portion of operating lease liabilities	4,445	4,011
Current portion of long-term debt	0	18
Total current liabilities	51,431	47,547
Long-term debt, less current portion	60,670	40,626
Deferred income taxes	8,345	3,403
Operating lease liabilities	22,346	19,504
Other liabilities	15,747	16,263
Accrued pension and other postretirement costs	15,840	16,687
Total liabilities	174,379	144,030
Commitments and contingencies
Equity:
Treasury stock	(8,765)	(8,765)
Capital in excess of par value	197,856	197,764
Retained earnings	108,956	100,075
Accumulated other comprehensive loss	(33,546)	(32,671)
Total Vishay Precision Group, Inc. stockholders' equity	265,926	257,823
Noncontrolling interests	(8)	34
Total equity	265,918	257,857
Total liabilities and equity	440,297	401,887
Common Stock
Equity:
Common stock	1,322	1,317
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
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Net revenues	$ 75,339	$ 59,146	$ 145,928	$ 126,842
Costs of products sold	45,541	36,036	87,508	78,667
Gross profit	29,798	23,110	58,420	48,175
Selling, general, and administrative expenses	22,453	18,640	44,636	38,931
Acquisition costs	1,198	0	1,198	0
Impairment of goodwill and indefinite-lived intangibles	1,223	0	1,223	0
Restructuring costs	0	499	0	629
Operating income	4,924	3,971	11,363	8,615
Other income (expense):
Interest expense	(273)	(267)	(578)	(728)
Other	(326)	(1,273)	247	(590)
Other income (expense)	(599)	(1,540)	(331)	(1,318)
Income before taxes	4,325	2,431	11,032	7,297
Income tax expense	262	684	2,026	2,258
Net earnings	4,063	1,747	9,006	5,039
Less: net earnings (loss) attributable to noncontrolling interests	143	(12)	125	(32)
Net earnings attributable to VPG stockholders	$ 3,920	$ 1,759	$ 8,881	$ 5,071
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.29	$ 0.13	$ 0.65	$ 0.37
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.29	$ 0.13	$ 0.65	$ 0.37
Weighted average shares outstanding - basic (in shares)	13,618	13,571	13,605	13,556
Weighted average shares outstanding - diluted (in shares)	13,646	13,609	13,638	13,598

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 4,063	$ 1,747	$ 9,006	$ 5,039
Other comprehensive income (loss):
Foreign currency translation adjustment	607	3,271	(1,193)	(2,070)
Pension and other postretirement actuarial items, net of tax	109	(152)	318	(311)
Other comprehensive loss	716	3,119	(875)	(2,381)
Comprehensive income	4,779	4,866	8,131	2,658
Less: comprehensive income (loss) attributable to noncontrolling interests	143	(12)	125	(32)
Comprehensive income attributable to VPG stockholders	$ 4,636	$ 4,878	$ 8,006	$ 2,690

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Operating activities
Net earnings	$ 9,006	$ 5,039
Adjustments to reconcile net earnings to net cash provided by operating activities:
Impairment of goodwill and indefinite-lived intangibles	1,223	0
Depreciation and amortization	7,108	6,312
Loss from extinguishment of debt	0	30
Loss (gain) on sale of property and equipment	44	(143)
Share-based compensation expense	942	757
Inventory write-offs for obsolescence	1,135	1,302
Deferred income taxes	(1,110)	(146)
Other	(1,820)	25
Net changes in operating assets and liabilities:
Accounts receivable, net	(776)	2,077
Inventories, net	(7,744)	(1,383)
Prepaid expenses and other current assets	314	(632)
Trade accounts payable	1,715	1,228
Other current liabilities	2,341	2,229
Net cash provided by operating activities	12,378	16,695
Investing activities
Capital expenditures	(8,309)	(11,018)
Proceeds from sale of property and equipment	16	378
Purchase of business, net of cash acquired	(47,216)	156
Net cash used in investing activities	(55,509)	(10,484)
Financing activities
Principal payments on long-term debt	(18)	(3,418)
Proceeds from revolving facility	20,000	0
Debt issuance costs	0	(402)
Purchase of noncontrolling interest	0	(253)
(Distributions to) contributions from noncontrolling interests	(167)
(Distributions to) contributions from noncontrolling interests		117
Payments of employee taxes on certain share-based arrangements	(846)	(813)
Net cash provided by (used in) financing activities	18,969	(4,769)
Effect of exchange rate changes on cash and cash equivalents	(820)	(1,155)
(Decrease) increase in cash and cash equivalents	(24,982)	287
Cash and cash equivalents at beginning of period	98,438	86,910
Cash and cash equivalents at end of period	73,456	87,197
Supplemental disclosure of investing transactions:
Capital expenditures purchased	(6,353)	(10,290)
Capital expenditures accrued but not yet paid	$ 606	$ 455

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
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	5,039	5,071					5,071		(32)
Other comprehensive income (loss)	(2,381)	(2,381)						(2,381)
Share-based compensation expense	757	757				757
Restricted stock issuance (shares)			52,433
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	1,747	1,759					1,759		(12)
Other comprehensive income (loss)	3,119	3,119						3,119
Share-based compensation expense	378	378				378
Restricted stock issuance (shares)			8,244
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
Balance, beginning at Dec. 31, 2020	257,857	257,823	$ 1,317	103	(8,765)	197,764	100,075	(32,671)	34
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	9,006	8,881					8,881		125
Other comprehensive income (loss)	(875)	(875)						(875)
Share-based compensation expense	942	942				942
Restricted stock issuance (shares)			50,316
Restricted stock issuances	(845)	(845)	$ 5			(850)
Distributions to noncontrolling interests	(167)								(167)
Balance, ending at Jul. 03, 2021	265,918	265,926	1,322	103	(8,765)	197,856	108,956	(33,546)	(8)
Balance, beginning at Apr. 03, 2021	260,619	260,714	$ 1,320	103	(8,765)	197,282	105,036	(34,262)	(95)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	4,063	3,920					3,920		143
Other comprehensive income (loss)	716	716						716
Share-based compensation expense	576	576				576
Restricted stock issuance (shares)			15,564
Restricted stock issuances	0	0	$ 2			(2)
Distributions to noncontrolling interests	(56)								(56)
Balance, ending at Jul. 03, 2021	$ 265,918	$ 265,926	$ 1,322	$ 103	$ (8,765)	$ 197,856	$ 108,956	$ (33,546)	$ (8)

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Equity (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Common Stock
Restricted stock issuance (shares)	15,564	8,244	50,316	52,433

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 03, 2021
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, 2020 and 2019 and for each of the three years in the period ended December 31, 2020, included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on March 11, 2021. The results of operations for the fiscal quarter ended July 3, 2021 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 2021 and 2020 end on the following dates: 2021 2020 Quarter 1 April 3, March 28, Quarter 2 July 3, June 27, Quarter 3 October 2, September 26, Quarter 4 December 31, December 31, Recently Adopted Accounting Pronouncements

Revenues

Revenues	6 Months Ended
	Jul. 03, 2021
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 $ 11,003 $ 8,017 $ 10,574 $ 29,594 $ 10,789 $ 4,113 $ 6,009 $ 20,911 United Kingdom 1,102 514 3,681 5,297 587 1,711 1,723 4,021 Other Europe 6,604 5,018 5,204 16,826 6,973 1,434 3,430 11,837 Israel 5,284 261 — 5,545 5,691 93 — 5,784 Asia 9,315 3,406 2,012 14,733 7,745 1,565 1,859 11,169 Canada — — 3,344 3,344 — — 5,424 5,424 Total $ 33,308 $ 17,216 $ 24,815 $ 75,339 $ 31,785 $ 8,916 $ 18,445 $ 59,146 Six Fiscal Months Ended July 3, 2021 Six Fiscal Months Ended June 27, 2020 Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 21,482 $ 15,788 $ 18,241 $ 55,511 $ 22,723 $ 12,505 $ 14,898 $ 50,126 United Kingdom 2,000 1,081 7,694 10,775 1,537 3,691 5,435 10,663 Other Europe 13,870 10,493 9,765 34,128 14,686 3,808 7,174 25,668 Israel 11,725 391 — 12,116 8,646 190 — 8,836 Asia 16,942 6,396 3,613 26,951 14,670 3,417 3,530 21,617 Canada — — 6,447 6,447 — — 9,932 9,932 Total $ 66,019 $ 34,149 $ 45,760 $ 145,928 $ 62,262 $ 23,611 $ 40,969 $ 126,842 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Six fiscal months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Test & Measurement $ 16,279 $ 14,027 $ 30,695 $ 28,372 Avionics, Military & Space 5,872 6,727 11,902 12,887 Transportation 11,930 5,188 21,484 13,432 Other Markets 17,489 12,192 35,034 25,320 Industrial Weighing 12,042 8,583 24,047 21,050 General Industrial 4,173 3,623 8,255 7,662 Steel 7,554 8,806 14,511 18,119 Total $ 75,339 $ 59,146 $ 145,928 $ 126,842 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, 2020 $ 3,605 $ 2,873 Balance at July 3, 2021 4,656 4,525 (Decrease)/increase $ 1,051 $ 1,652 The amount of revenue recognized during the six fiscal months ended July 3, 2021 that was included in the contract liability balance at December 31, 2020 was $2.4 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
	Jul. 03, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisition On June 1, 2021, VPG completed the acquisition of California-based Diversified Technical Systems, Inc. (“DTS”), a manufacturer of data acquisition systems and sensors for product safety and testing, for a purchase price of $47.2 million, subject to customary adjustments. The Company used cash on hand and borrowings under its revolving credit facility to fund the purchase price under the purchase agreement. DTS reports into the Company's Weighing and Control Systems segment. The following table summarizes the provisional fair values assigned to the assets and liabilities of DTS as of June 1, 2021 (in thousands): June 1, 2021 Working capital $ 12,999 Property and equipment 1,209 Deferred income tax liability (6,274) Intangible assets: Acquired technology 13,167 Customer relationships 8,135 Trade names 2,393 Total intangible assets 23,695 Fair value of acquired identifiable assets 31,629 Purchase price $ 47,216 Goodwill $ 15,587 The Company utilizes certain valuations and studies to determine the fair value of the tangible and intangible assets acquired. These valuations and studies are currently being analyzed and have yet to be finalized. Accordingly, the assets and liabilities assumed are subject to adjustment once the detailed analysis is completed. The provisional estimated weighted average useful lives for the acquired technology and customer relationships are 15 years. Trade names are treated as indefinite-lived intangible assets. None of the goodwill associated with DTS will be deductible for income tax purposes. The Company recorded acquisition costs associated with this transaction as follows (in thousands ): Fiscal quarter ended Six fiscal months ended July 3, 2021 July 3, 2021 Legal fees $ 341 $ 341 Appraisal fees 18 18 Other (investment banker and insurance costs) 839 839 $ 1,198 $ 1,198 Included in the results of the operations of the Company, starting on June 1, 2021, are net revenues of $3.0 million and a net loss of $0.2 million from DTS for the fiscal quarter and six fiscal months ended July 3, 2021. DTS results include amortization of the inventory step-up of $0.9 million and amortization of intangible assets of $0.1 million. Following is the supplemental consolidated financial results for the Company on an unaudited pro forma basis, as if the DTS acquisition had been consummated on January 1, 2020: Fiscal quarter ended Six fiscal months ended Fiscal quarter ended Six fiscal months ended June 27, 2020 June 27, 2020 July 3, 2021 July 3, 2021 Pro forma net revenues $ 64,907 $ 139,158 80,243 159,164 Pro forma net earnings attributable to VPG stockholders $ 1,629 $ 3,658 6,741 13,411 Pro forma basic earnings per share attributable to VPG stockholders $ 0.12 $ 0.27 $ 0.50 $ 0.99 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.12 $ 0.27 $ 0.49 $ 0.98

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company tests the goodwill in each of its goodwill reporting units for impairment at least annually, as of the first day of it's fourth quarter, and whenever events or changes in circumstances occur indicating that a possible impairment may have been incurred. Due to updated financial projections, the Company performed a quantitative impairment test for the instrumentation reporting unit during the second quarter of 2021. In estimating the fair value of our instrumentation reporting unit the Company used the income approach. The results of the quantitative impairment test for the instrumentation reporting unit's goodwill and indefinite-lived trade name indicated an impairment, and in the second quarter of 2021, the Company recognized a non-cash impairment loss of $1.1 million in goodwill and $0.1 million to the indefinite-lived trade name. The impairment was driven mainly by changes in forecasted projections including a slower growth rate in revenues. After considering the impact of the impairment charges, the carrying amount of goodwill and indefinite-lived trade names as of July 3, 2021 was $0.0 million and $0.3 million, respectively. 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 DTS Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2020 $ 31,105 $ 6,726 $ 16,942 $ 6,311 $ 1,126 Goodwill acquired 15,587 15,587 Impairment charges (1,126) (1,126) Foreign currency translation adjustment 166 180 (14) — — Balance at July 3, 2021 $ 45,732 $ 6,906 $ 16,928 $ 15,587 $ 6,311 $ — Intangible assets were as follows (in thousands) : July 3, 2021 December 31, 2020 Intangible assets subject to amortization (Definite-lived): Patents and acquired technology $ 33,069 $ 19,804 Customer relationships 34,393 26,061 Trade names 1,697 1,747 Non-competition agreements 11,646 12,259 80,805 59,871 Accumulated amortization: Patents and acquired technology (6,552) (5,895) Customer relationships (14,191) (13,363) Trade names (1,697) (1,747) Non-competition agreements (11,639) (12,250) (34,079) (33,255) Net intangible assets subject to amortization $ 46,726 $ 26,616 Intangible assets not subject to amortization (Indefinite-lived): Trade names 7,748 5,423 $ 54,474 $ 32,039 The increase in net intangible assets from December 31, 2020 is due to the acquisition of DTS on June 1, 2021. The Company has preliminarily allocated $21.3 million of the purchase price to definite-lived intangible assets and $2.4 million to indefinite-lived intangible assets. Amortization expense for the fiscal quarter and six fiscal months ended July 3, 2021 was $0.7 million and $1.4 million, respectively. The DTS intangible assets accounted for $0.1 million of amortization expense for the fiscal quarter and six fiscal months ended July 3, 2021. Estimated annual amortization expense for the full year of 2021 and each of the next four years, is as follows ( in thousands) : 2021 $ 3,280 2022 3,871 2023 3,763 2024 3,728 2025 3,728

Leases

Leases	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Leases	Leases The Company primarily leases office and manufacturing facilities in addition to vehicles, which have remaining terms of less than one year to eleven years. The Company has no finance leases. Leases recorded on the balance sheet consist of the following (in thousands) : Leases July 3, 2021 December 31, 2020 Assets Operating lease right of use asset $ 25,451 $ 21,788 Liabilities Operating lease - current $ 4,445 $ 4,011 Operating lease - non-current $ 22,346 $ 19,504 Other information related to lease term and discount rate is as follows: July 3, 2021 Operating leases weighted average remaining lease term (in years) 8.49 years Operating leases weighted average discount rate 3.36 % The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Operating lease cost $ 1,258 $ 1,139 $ 2,439 $ 2,013 Short-term lease cost 35 34 68 57 Sublease income (19) — (28) — Total net lease cost $ 1,274 $ 1,173 $ 2,479 $ 2,070 Right of use assets obtained in exchange for new operating lease liability during 2021 were $5.9 million. The Company paid $2.4 million and $1.7 million for its operating leases for each of the six fiscal months ended July 3, 2021 and June 27, 2020, which are included in operating cash flows on the consolidated condensed statements of cash flows. Undiscounted maturities of operating lease payments as of July 3, 2021 are summarized as follows (in thousands) : 2021 (excluding the six months ended July 3, 2021) $ 2,596 2022 4,500 2023 3,968 2024 3,555 2025 3,083 Thereafter 12,894 Total future minimum lease payments $ 30,596 Less: amount representing interest (3,805) Present value of future minimum lease payments $ 26,791

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 was 6.1% compared to 28.1% for the fiscal quarter ended June 27, 2020, and the effective tax rate for the six fiscal months ended July 3, 2021 was 18.4% compared to 30.9% for the six fiscal months ended June 27, 2020. The tax rate for both periods presented in 2021 is lower than the prior year periods primarily due to the acquisition of DTS, which enabled the Company to reduce its valuation allowance against deferred tax assets, tax rate changes in certain foreign jurisdictions, and 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

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : July 3, 2021 December 31, 2020 2020 Credit Agreement - Revolving Facility $ 61,000 $ 41,000 Other debt — 18 Deferred financing costs (330) (374) Total long-term debt 60,670 40,644 Less: current portion — 18 Long-term debt, less current portion $ 60,670 $ 40,626

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 03, 2021
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, 2021 $ (25,591) $ (7,080) $ (32,671) Other comprehensive loss before reclassifications (1,193) — (1,193) Amounts reclassified from accumulated other comprehensive income (loss) — 318 318 Balance at July 3, 2021 $ (26,784) $ (6,762) $ (33,546) 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)

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Jul. 03, 2021
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 $ 96 $ 9 $ 99 $ 31 Interest cost 103 17 127 33 Expected return on plan assets (97) — (109) — Amortization of actuarial losses 102 5 76 34 Net periodic benefit cost $ 204 $ 31 $ 193 $ 98 Six fiscal months ended July 3, 2021 Six fiscal months ended June 27, 2020 Pension OPEB Pension OPEB Net service cost $ 193 $ 18 $ 198 $ 62 Interest cost 206 34 256 66 Expected return on plan assets (194) — (220) — Amortization of actuarial losses 204 10 153 68 Net periodic benefit cost $ 409 $ 62 $ 387 $ 196

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021, the Company had reserved 320,654 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 4, 2021 and in accordance with their respective employment agreements, VPG’s three executive officers were granted annual equity awards in the form of RSUs, of which 50% are performance-based. The awards have an aggregate target grant-date fair value of $1.7 million and were comprised of 52,486 RSUs. Fifty percent of these awards will vest on January 1, 2024, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2024, 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 8, 2021, certain non-executive VPG employees were granted annual equity awards in the form of RSUs. Certain employees received awards, of which 75% are performance-based and certain employees received awards of which 50% are performance-based. The awards have an aggregate grant-date fair value of $0.6 million and were comprised of 17,793 RSUs. The non-performance portion of these awards (twenty-five percent for certain employees and fifty percent for certain employees) will vest on January 1, 2024 subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2024, 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 27, 2021 and in accordance with the Company's 2017 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 9,936 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 2022 Annual Stockholders Meeting or May 27, 2022, 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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Restricted stock units $ 576 $ 378 $ 942 $ 757

Segment Information

Segment Information	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Net revenues: Foil Technology Products $ 33,308 $ 31,785 $ 66,019 $ 62,262 Force Sensors 17,216 8,916 34,149 23,611 Weighing and Control Systems 24,815 18,445 45,760 40,969 Total $ 75,339 $ 59,146 $ 145,928 $ 126,842 Gross profit: Foil Technology Products $ 12,942 $ 13,286 $ 25,981 $ 24,487 Force Sensors 5,969 1,038 12,008 4,610 Weighing and Control Systems 10,887 8,786 20,431 19,078 Total $ 29,798 $ 23,110 $ 58,420 $ 48,175 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 7,219 $ 8,070 $ 14,052 $ 13,454 Force Sensors 3,474 (1,013) 6,977 191 Weighing and Control Systems 4,595 4,019 8,419 8,687 Unallocated G&A expenses (7,943) (6,606) (15,664) (13,088) Acquisition costs (1,198) — (1,198) — Impairment of goodwill and indefinite-lived intangibles (1,223) — (1,223) — Restructuring costs — (499) — (629) Operating income $ 4,924 $ 3,971 $ 11,363 $ 8,615 Acquisition costs: Weighing and Control Systems (1,198) — (1,198) — $ (1,198) $ — $ (1,198) $ — Impairment of goodwill and indefinite-lived intangibles: Foil Technology Products $ (1,223) $ — $ (1,223) $ — $ (1,223) $ — $ (1,223) $ — Restructuring costs: Foil Technology Products $ — $ (341) $ — $ (443) Force Sensors $ — $ (80) $ — $ (108) Corporate/Other — (78) — (78) $ — $ (499) $ — $ (629) 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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Foil Technology Products to Force Sensors and Weighing and Control Systems $ 959 $ 868 $ 1,920 $ 1,592 Weighing and Control Systems to Foil Technology Products and Force Sensors $ 150 $ 124 $ 264 $ 211

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 3,920 $ 1,759 $ 8,881 $ 5,071 Denominator: Denominator for basic earnings per share: Weighted average shares 13,618 13,571 13,605 13,556 Effect of dilutive securities: Restricted stock units 28 38 33 42 Dilutive potential common shares 28 38 33 42 Denominator for diluted earnings per share: Adjusted weighted average shares 13,646 13,609 13,638 13,598 Basic earnings per share attributable to VPG stockholders $ 0.29 $ 0.13 $ 0.65 $ 0.37 Diluted earnings per share attributable to VPG stockholders $ 0.29 $ 0.13 $ 0.65 $ 0.37

Additional Financial Statement

Additional Financial Statement Information	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Foreign exchange (loss) gain $ (174) $ (1,185) $ 561 $ (285) Interest income 20 109 65 176 Pension expense (143) (164) (280) (323) Other (29) (33) (99) (158) $ (326) $ (1,273) $ 247 $ (590) Foreign currency exchange gains and losses represent the impact of changes in foreign currency exchange rates. For the fiscal quarter ended July 3, 2021, 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, Japanese yen, the Israeli shekel and the British pound.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 Assets Assets held in rabbi trusts $ 5,995 $ 80 $ 5,915 $ — December 31, 2020 Assets Assets held in rabbi trusts $ 5,601 $ 61 $ 5,540 $ — 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 July 3, 2021 and December 31, 2020, 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 July 3, 2021 and December 31, 2020 approximates its carrying value as the revolving debt is reset on a monthly basis based on current market rates, plus a base rate as specified in the debt agreement. 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, accounts receivable, short-term notes payable, and accounts payable. The carrying amounts for these financial instruments reported in the consolidated condensed balance sheets approximate their fair values.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jul. 03, 2021
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 $0.0 million and $0.5 million of restructuring costs during the fiscal quarter ended July 3, 2021 and June 27, 2020, respectively and $0.0 million and $0.6 million of restructuring costs during the six fiscal months ended July 3, 2021 and June 27, 2020, 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 July 3, 2021 and December 31, 2020, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2020 $ 63 Cash payments (51) Balance at July 3, 2021 $ 12

Basis of Presentation - (Polici

Basis of Presentation - (Policies)	6 Months Ended
	Jul. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	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 2021 and 2020 end on the following dates: 2021 2020 Quarter 1 April 3, March 28, Quarter 2 July 3, June 27, Quarter 3 October 2, September 26, Quarter 4 December 31, December 31,
Recent Accounting Pronouncements	Recently Adopted Accounting PronouncementsIn December 2019, the Financial Accounting Standards Board issued Accounting Standards Update 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 adopted this standard in the first quarter of 2021. The adoption of this ASU did not impact our financial statements or the related disclosures.

Basis of Presentation - (Tables

Basis of Presentation - (Tables)	6 Months Ended
	Jul. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Fiscal Quarters	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 2021 and 2020 end on the following dates: 2021 2020 Quarter 1 April 3, March 28, Quarter 2 July 3, June 27, Quarter 3 October 2, September 26, Quarter 4 December 31, December 31,

Revenues - (Tables)

Revenues - (Tables)	6 Months Ended
	Jul. 03, 2021
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 $ 11,003 $ 8,017 $ 10,574 $ 29,594 $ 10,789 $ 4,113 $ 6,009 $ 20,911 United Kingdom 1,102 514 3,681 5,297 587 1,711 1,723 4,021 Other Europe 6,604 5,018 5,204 16,826 6,973 1,434 3,430 11,837 Israel 5,284 261 — 5,545 5,691 93 — 5,784 Asia 9,315 3,406 2,012 14,733 7,745 1,565 1,859 11,169 Canada — — 3,344 3,344 — — 5,424 5,424 Total $ 33,308 $ 17,216 $ 24,815 $ 75,339 $ 31,785 $ 8,916 $ 18,445 $ 59,146 Six Fiscal Months Ended July 3, 2021 Six Fiscal Months Ended June 27, 2020 Foil Technology Force Weighing and Total Foil Technology Force Weighing and Total United States $ 21,482 $ 15,788 $ 18,241 $ 55,511 $ 22,723 $ 12,505 $ 14,898 $ 50,126 United Kingdom 2,000 1,081 7,694 10,775 1,537 3,691 5,435 10,663 Other Europe 13,870 10,493 9,765 34,128 14,686 3,808 7,174 25,668 Israel 11,725 391 — 12,116 8,646 190 — 8,836 Asia 16,942 6,396 3,613 26,951 14,670 3,417 3,530 21,617 Canada — — 6,447 6,447 — — 9,932 9,932 Total $ 66,019 $ 34,149 $ 45,760 $ 145,928 $ 62,262 $ 23,611 $ 40,969 $ 126,842 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Six fiscal months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Test & Measurement $ 16,279 $ 14,027 $ 30,695 $ 28,372 Avionics, Military & Space 5,872 6,727 11,902 12,887 Transportation 11,930 5,188 21,484 13,432 Other Markets 17,489 12,192 35,034 25,320 Industrial Weighing 12,042 8,583 24,047 21,050 General Industrial 4,173 3,623 8,255 7,662 Steel 7,554 8,806 14,511 18,119 Total $ 75,339 $ 59,146 $ 145,928 $ 126,842
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, 2020 $ 3,605 $ 2,873 Balance at July 3, 2021 4,656 4,525 (Decrease)/increase $ 1,051 $ 1,652

Acquisitions - (Tables)

Acquisitions - (Tables)	6 Months Ended
	Jul. 03, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the provisional fair values assigned to the assets and liabilities of DTS as of June 1, 2021 (in thousands): June 1, 2021 Working capital $ 12,999 Property and equipment 1,209 Deferred income tax liability (6,274) Intangible assets: Acquired technology 13,167 Customer relationships 8,135 Trade names 2,393 Total intangible assets 23,695 Fair value of acquired identifiable assets 31,629 Purchase price $ 47,216 Goodwill $ 15,587
Schedule of Acquisition Costs	The Company recorded acquisition costs associated with this transaction as follows (in thousands ): Fiscal quarter ended Six fiscal months ended July 3, 2021 July 3, 2021 Legal fees $ 341 $ 341 Appraisal fees 18 18 Other (investment banker and insurance costs) 839 839 $ 1,198 $ 1,198
Business Acquisition, Pro Forma Information	Following is the supplemental consolidated financial results for the Company on an unaudited pro forma basis, as if the DTS acquisition had been consummated on January 1, 2020: Fiscal quarter ended Six fiscal months ended Fiscal quarter ended Six fiscal months ended June 27, 2020 June 27, 2020 July 3, 2021 July 3, 2021 Pro forma net revenues $ 64,907 $ 139,158 80,243 159,164 Pro forma net earnings attributable to VPG stockholders $ 1,629 $ 3,658 6,741 13,411 Pro forma basic earnings per share attributable to VPG stockholders $ 0.12 $ 0.27 $ 0.50 $ 0.99 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.12 $ 0.27 $ 0.49 $ 0.98

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets - (Tables)	6 Months Ended
	Jul. 03, 2021
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 DTS Acquisition Stress-Tek Acquisition Pacific Acquisition Balance at December 31, 2020 $ 31,105 $ 6,726 $ 16,942 $ 6,311 $ 1,126 Goodwill acquired 15,587 15,587 Impairment charges (1,126) (1,126) Foreign currency translation adjustment 166 180 (14) — — Balance at July 3, 2021 $ 45,732 $ 6,906 $ 16,928 $ 15,587 $ 6,311 $ —
Schedule of Finite-Lived Intangible Assets	Intangible assets were as follows (in thousands) : July 3, 2021 December 31, 2020 Intangible assets subject to amortization (Definite-lived): Patents and acquired technology $ 33,069 $ 19,804 Customer relationships 34,393 26,061 Trade names 1,697 1,747 Non-competition agreements 11,646 12,259 80,805 59,871 Accumulated amortization: Patents and acquired technology (6,552) (5,895) Customer relationships (14,191) (13,363) Trade names (1,697) (1,747) Non-competition agreements (11,639) (12,250) (34,079) (33,255) Net intangible assets subject to amortization $ 46,726 $ 26,616 Intangible assets not subject to amortization (Indefinite-lived): Trade names 7,748 5,423 $ 54,474 $ 32,039
Schedule of Indefinite-Lived Intangible Assets	Intangible assets were as follows (in thousands) : July 3, 2021 December 31, 2020 Intangible assets subject to amortization (Definite-lived): Patents and acquired technology $ 33,069 $ 19,804 Customer relationships 34,393 26,061 Trade names 1,697 1,747 Non-competition agreements 11,646 12,259 80,805 59,871 Accumulated amortization: Patents and acquired technology (6,552) (5,895) Customer relationships (14,191) (13,363) Trade names (1,697) (1,747) Non-competition agreements (11,639) (12,250) (34,079) (33,255) Net intangible assets subject to amortization $ 46,726 $ 26,616 Intangible assets not subject to amortization (Indefinite-lived): Trade names 7,748 5,423 $ 54,474 $ 32,039
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated annual amortization expense for the full year of 2021 and each of the next four years, is as follows ( in thousands) : 2021 $ 3,280 2022 3,871 2023 3,763 2024 3,728 2025 3,728

Leases - (Tables)

Leases - (Tables)	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Leases Recorded on the Balance Sheet	Leases recorded on the balance sheet consist of the following (in thousands) : Leases July 3, 2021 December 31, 2020 Assets Operating lease right of use asset $ 25,451 $ 21,788 Liabilities Operating lease - current $ 4,445 $ 4,011 Operating lease - non-current $ 22,346 $ 19,504
Other Information Related to Lease Term and Discount Rate	Other information related to lease term and discount rate is as follows: July 3, 2021 Operating leases weighted average remaining lease term (in years) 8.49 years Operating leases weighted average discount rate 3.36 %
Components of Lease Expense	The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Operating lease cost $ 1,258 $ 1,139 $ 2,439 $ 2,013 Short-term lease cost 35 34 68 57 Sublease income (19) — (28) — Total net lease cost $ 1,274 $ 1,173 $ 2,479 $ 2,070
Maturities of Operating Lease Liabilities	Undiscounted maturities of operating lease payments as of July 3, 2021 are summarized as follows (in thousands) : 2021 (excluding the six months ended July 3, 2021) $ 2,596 2022 4,500 2023 3,968 2024 3,555 2025 3,083 Thereafter 12,894 Total future minimum lease payments $ 30,596 Less: amount representing interest (3,805) Present value of future minimum lease payments $ 26,791

Long-Term Debt - (Tables)

Long-Term Debt - (Tables)	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : July 3, 2021 December 31, 2020 2020 Credit Agreement - Revolving Facility $ 61,000 $ 41,000 Other debt — 18 Deferred financing costs (330) (374) Total long-term debt 60,670 40,644 Less: current portion — 18 Long-term debt, less current portion $ 60,670 $ 40,626

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) - (Tables)	6 Months Ended
	Jul. 03, 2021
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, 2021 $ (25,591) $ (7,080) $ (32,671) Other comprehensive loss before reclassifications (1,193) — (1,193) Amounts reclassified from accumulated other comprehensive income (loss) — 318 318 Balance at July 3, 2021 $ (26,784) $ (6,762) $ (33,546) 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)

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits - (Tables)	6 Months Ended
	Jul. 03, 2021
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 $ 96 $ 9 $ 99 $ 31 Interest cost 103 17 127 33 Expected return on plan assets (97) — (109) — Amortization of actuarial losses 102 5 76 34 Net periodic benefit cost $ 204 $ 31 $ 193 $ 98 Six fiscal months ended July 3, 2021 Six fiscal months ended June 27, 2020 Pension OPEB Pension OPEB Net service cost $ 193 $ 18 $ 198 $ 62 Interest cost 206 34 256 66 Expected return on plan assets (194) — (220) — Amortization of actuarial losses 204 10 153 68 Net periodic benefit cost $ 409 $ 62 $ 387 $ 196

Share-Based Compensation - (Tab

Share-Based Compensation - (Tables)	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Restricted stock units $ 576 $ 378 $ 942 $ 757

Segment Information - (Tables)

Segment Information - (Tables)	6 Months Ended
	Jul. 03, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands) : Fiscal quarter ended Six fiscal months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Net revenues: Foil Technology Products $ 33,308 $ 31,785 $ 66,019 $ 62,262 Force Sensors 17,216 8,916 34,149 23,611 Weighing and Control Systems 24,815 18,445 45,760 40,969 Total $ 75,339 $ 59,146 $ 145,928 $ 126,842 Gross profit: Foil Technology Products $ 12,942 $ 13,286 $ 25,981 $ 24,487 Force Sensors 5,969 1,038 12,008 4,610 Weighing and Control Systems 10,887 8,786 20,431 19,078 Total $ 29,798 $ 23,110 $ 58,420 $ 48,175 Reconciliation of segment operating income to consolidated results: Foil Technology Products $ 7,219 $ 8,070 $ 14,052 $ 13,454 Force Sensors 3,474 (1,013) 6,977 191 Weighing and Control Systems 4,595 4,019 8,419 8,687 Unallocated G&A expenses (7,943) (6,606) (15,664) (13,088) Acquisition costs (1,198) — (1,198) — Impairment of goodwill and indefinite-lived intangibles (1,223) — (1,223) — Restructuring costs — (499) — (629) Operating income $ 4,924 $ 3,971 $ 11,363 $ 8,615 Acquisition costs: Weighing and Control Systems (1,198) — (1,198) — $ (1,198) $ — $ (1,198) $ — Impairment of goodwill and indefinite-lived intangibles: Foil Technology Products $ (1,223) $ — $ (1,223) $ — $ (1,223) $ — $ (1,223) $ — Restructuring costs: Foil Technology Products $ — $ (341) $ — $ (443) Force Sensors $ — $ (80) $ — $ (108) Corporate/Other — (78) — (78) $ — $ (499) $ — $ (629) 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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Foil Technology Products to Force Sensors and Weighing and Control Systems $ 959 $ 868 $ 1,920 $ 1,592 Weighing and Control Systems to Foil Technology Products and Force Sensors $ 150 $ 124 $ 264 $ 211

Earnings Per Share - (Tables)

Earnings Per Share - (Tables)	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 3,920 $ 1,759 $ 8,881 $ 5,071 Denominator: Denominator for basic earnings per share: Weighted average shares 13,618 13,571 13,605 13,556 Effect of dilutive securities: Restricted stock units 28 38 33 42 Dilutive potential common shares 28 38 33 42 Denominator for diluted earnings per share: Adjusted weighted average shares 13,646 13,609 13,638 13,598 Basic earnings per share attributable to VPG stockholders $ 0.29 $ 0.13 $ 0.65 $ 0.37 Diluted earnings per share attributable to VPG stockholders $ 0.29 $ 0.13 $ 0.65 $ 0.37

Additional Financial Statemen_2

Additional Financial Statement Information - (Tables)	6 Months Ended
	Jul. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Income (Expense)	The caption “Other” on the consolidated condensed statements of operations consists of the following (in thousands) : Fiscal quarter ended Six fiscal months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Foreign exchange (loss) gain $ (174) $ (1,185) $ 561 $ (285) Interest income 20 109 65 176 Pension expense (143) (164) (280) (323) Other (29) (33) (99) (158) $ (326) $ (1,273) $ 247 $ (590)

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 Assets Assets held in rabbi trusts $ 5,995 $ 80 $ 5,915 $ — December 31, 2020 Assets Assets held in rabbi trusts $ 5,601 $ 61 $ 5,540 $ —

Restructuring Costs - (Tables)

Restructuring Costs - (Tables)	6 Months Ended
	Jul. 03, 2021
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 July 3, 2021 and December 31, 2020, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2020 $ 63 Cash payments (51) Balance at July 3, 2021 $ 12

Revenues - (Disaggregation of R

Revenues - (Disaggregation of Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 75,339	$ 59,146	$ 145,928	$ 126,842
United States
Disaggregation of Revenue [Line Items]
Total revenue	29,594	20,911	55,511	50,126
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	5,297	4,021	10,775	10,663
Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	16,826	11,837	34,128	25,668
Israel
Disaggregation of Revenue [Line Items]
Total revenue	5,545	5,784	12,116	8,836
Asia
Disaggregation of Revenue [Line Items]
Total revenue	14,733	11,169	26,951	21,617
Canada
Disaggregation of Revenue [Line Items]
Total revenue	3,344	5,424	6,447	9,932
Foil Technology Products
Disaggregation of Revenue [Line Items]
Total revenue	33,308	31,785	66,019	62,262
Foil Technology Products | United States
Disaggregation of Revenue [Line Items]
Total revenue	11,003	10,789	21,482	22,723
Foil Technology Products | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	1,102	587	2,000	1,537
Foil Technology Products | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	6,604	6,973	13,870	14,686
Foil Technology Products | Israel
Disaggregation of Revenue [Line Items]
Total revenue	5,284	5,691	11,725	8,646
Foil Technology Products | Asia
Disaggregation of Revenue [Line Items]
Total revenue	9,315	7,745	16,942	14,670
Foil Technology Products | Canada
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Force Sensors
Disaggregation of Revenue [Line Items]
Total revenue	17,216	8,916	34,149	23,611
Force Sensors | United States
Disaggregation of Revenue [Line Items]
Total revenue	8,017	4,113	15,788	12,505
Force Sensors | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	514	1,711	1,081	3,691
Force Sensors | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	5,018	1,434	10,493	3,808
Force Sensors | Israel
Disaggregation of Revenue [Line Items]
Total revenue	261	93	391	190
Force Sensors | Asia
Disaggregation of Revenue [Line Items]
Total revenue	3,406	1,565	6,396	3,417
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	24,815	18,445	45,760	40,969
Weighing and Control Systems | United States
Disaggregation of Revenue [Line Items]
Total revenue	10,574	6,009	18,241	14,898
Weighing and Control Systems | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	3,681	1,723	7,694	5,435
Weighing and Control Systems | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	5,204	3,430	9,765	7,174
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	2,012	1,859	3,613	3,530
Weighing and Control Systems | Canada
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,344	$ 5,424	$ 6,447	$ 9,932

Revenues - (Disaggregation of_2

Revenues - (Disaggregation of Revenue by Market Sector) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 75,339	$ 59,146	$ 145,928	$ 126,842
Test & Measurement
Disaggregation of Revenue [Line Items]
Total revenue	16,279	14,027	30,695	28,372
Avionics, Military & Space
Disaggregation of Revenue [Line Items]
Total revenue	5,872	6,727	11,902	12,887
Transportation
Disaggregation of Revenue [Line Items]
Total revenue	11,930	5,188	21,484	13,432
Other Markets
Disaggregation of Revenue [Line Items]
Total revenue	17,489	12,192	35,034	25,320
Industrial Weighing
Disaggregation of Revenue [Line Items]
Total revenue	12,042	8,583	24,047	21,050
General Industrial
Disaggregation of Revenue [Line Items]
Total revenue	4,173	3,623	8,255	7,662
Steel
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,554	$ 8,806	$ 14,511	$ 18,119

Revenues - (Contract Assets and

Revenues - (Contract Assets and Liabilities) (Details) $ in Thousands	6 Months Ended
	Jul. 03, 2021USD ($)
Movement in Contract Assets and Liabilities [Roll Forward]
Contract Asset, beginning balance	$ 3,605
(Decrease)/increase in contract asset	1,051
Contract Asset, ending balance	4,656
Contract Liability, beginning balance	2,873
(Decrease)/increase in contract liability	1,652
Contract Liability, ending balance	$ 4,525

Revenues - (Narrative) (Details

Revenues - (Narrative) (Details) $ in Millions	6 Months Ended
	Jul. 03, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Contract with customer, revenue recognized	$ 2.4

Acquisitions - (Narrative) (Det

Acquisitions - (Narrative) (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Business Acquisition [Line Items]
Net loss		$ 3,920	$ 1,759	$ 8,881	$ 5,071
Amortization of intangible assets		700		1,400
DTS Acquisition
Business Acquisition [Line Items]
Purchase price	$ 47,216
Revenues		3,000		3,000
Net loss		(200)		(200)
Amortization of inventory step-up costs		900		900
Amortization of intangible assets		$ 100		$ 100
DTS Acquisition | Acquired technology
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	15 years
DTS Acquisition | Customer relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	15 years

Acquisitions - (Schedule of Ass

Acquisitions - (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Jul. 03, 2021	Dec. 31, 2020
Intangible assets:
Goodwill		$ 45,732	$ 31,105
DTS Acquisition
Business Acquisition [Line Items]
Working capital	$ 12,999
Property and equipment	1,209
Long-term deferred income tax liability	(6,274)
Intangible assets:
Total intangible assets	23,695
Fair value of acquired identifiable assets	31,629
Purchase price	47,216
Goodwill	15,587
DTS Acquisition | Trade names
Intangible assets:
Total intangible assets	2,393
DTS Acquisition | Acquired technology
Intangible assets:
Total intangible assets	13,167
DTS Acquisition | Customer relationships
Intangible assets:
Total intangible assets	$ 8,135

Acquisitions - (Schedule of Acq

Acquisitions - (Schedule of Acquisition Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Acquisition costs	$ 1,198	$ 0	$ 1,198	$ 0
DTS Acquisition
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Legal fees	341		341
Appraisal fees	18		18
Other (investment banker and insurance costs)	839		839
Acquisition costs	$ 1,198		$ 1,198

Acquisitions - (Pro Forma Infor

Acquisitions - (Pro Forma Information) (Details) - DTS Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net revenues	$ 80,243	$ 64,907	$ 159,164	$ 139,158
Pro forma net earnings attributable to VPG stockholders	$ 6,741	$ 1,629	$ 13,411	$ 3,658
Pro forma basic earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.50	$ 0.12	$ 0.99	$ 0.27
Pro forma diluted earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.49	$ 0.12	$ 0.98	$ 0.27

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 03, 2021	Jul. 03, 2021	Jun. 01, 2021	Dec. 31, 2020
Goodwill [Line Items]
Impairment charges		$ 1,126
Goodwill	$ 45,732	45,732		$ 31,105
Indefinite-lived intangible assets	54,474	54,474		32,039
Amortization of intangible assets	700	1,400
Trade names
Goodwill [Line Items]
Indefinite-lived intangible assets	7,748	7,748		$ 5,423
Instrumentation
Goodwill [Line Items]
Impairment charges	1,100
Goodwill	0	0
Instrumentation | Trade names
Goodwill [Line Items]
Impairment of indefinite lived intangible assets	100
Indefinite-lived intangible assets	300	300
DTS Acquisition
Goodwill [Line Items]
Goodwill			$ 15,587
Finite-lived intangible assets acquired	21,300	21,300
Indefinite-lived intangible assets acquired	2,400	2,400
Amortization of intangible assets	$ 100	$ 100

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jul. 03, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 31,105
Goodwill acquired	15,587
Impairment charges	(1,126)
Foreign currency translation adjustment	166
Ending balance	45,732
KELK Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,726
Foreign currency translation adjustment	180
Ending balance	6,906
DSI Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	16,942
Foreign currency translation adjustment	(14)
Ending balance	16,928
DTS Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Goodwill acquired	15,587
Ending balance	15,587
Stress-Tek Acquisition | Weighing and Control Systems Segment
Goodwill [Roll Forward]
Beginning balance	6,311
Ending balance	6,311
Pacific Acquisition | Foil Technology Products Segment
Goodwill [Roll Forward]
Beginning balance	1,126
Impairment charges	(1,126)
Ending balance	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - (Schedule of Finite and Indefinite Lived Intangible Assets) (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization	$ 80,805	$ 59,871
Accumulated amortization:	(34,079)	(33,255)
Net intangible assets subject to amortization	46,726	26,616
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	54,474	32,039
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	7,748	5,423
Patents and acquired technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization	33,069	19,804
Accumulated amortization:	(6,552)	(5,895)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization	34,393	26,061
Accumulated amortization:	(14,191)	(13,363)
Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization	1,697	1,747
Accumulated amortization:	(1,697)	(1,747)
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization	11,646	12,259
Accumulated amortization:	$ (11,639)	$ (12,250)

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - (Schedule of Future Amortization Expense) (Details) $ in Thousands	Jul. 03, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 3,280
2022	3,871
2023	3,763
2024	3,728
2025	$ 3,728

Leases - (Narrative) (Details)

Leases - (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 5.9
Operating lease, payments	$ 2.4	$ 1.7
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)	11 years

Leases - (Leases Recorded on th

Leases - (Leases Recorded on the Balance Sheet) (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Assets
Operating lease right of use asset	$ 25,451	$ 21,788
Liabilities
Operating lease - current	4,445	4,011
Operating lease - non-current	$ 22,346	$ 19,504

Leases - (Other Information Rel

Leases - (Other Information Related to Leases) (Details)	Jul. 03, 2021
Leases [Abstract]
Operating leases weighted average remaining lease term (years)	8 years 5 months 26 days
Operating leases weighted average discount rate (percent)	3.36%

Leases - (Components of Lease E

Leases - (Components of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Leases [Abstract]
Operating lease cost	$ 1,258	$ 1,139	$ 2,439	$ 2,013
Short-term lease cost	35	34	68	57
Sublease income	(19)	0	(28)	0
Total net lease cost	$ 1,274	$ 1,173	$ 2,479	$ 2,070

Leases - (Maturities of Operati

Leases - (Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Jul. 03, 2021USD ($)
Leases [Abstract]
2021 (excluding the six months ended July 3, 2021)	$ 2,596
2022	4,500
2023	3,968
2024	3,555
2025	3,083
Thereafter	12,894
Total future minimum lease payments	30,596
Less: amount representing interest	(3,805)
Present value of future minimum lease payments	$ 26,791

Income Taxes - (Details)

Income Taxes - (Details)	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	6.10%	28.10%	18.40%	30.90%

Long-Term Debt - (Schedule of L

Long-Term Debt - (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Other debt	$ 0	$ 18
Deferred financing costs	(330)	(374)
Total long-term debt	60,670	40,644
Less: current portion	0	18
Long-term debt, less current portion	60,670	40,626
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Secured debt	$ 61,000	$ 41,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 257,857	$ 241,752
Other comprehensive loss before reclassifications	(1,193)	(2,070)
Amounts reclassified from accumulated other comprehensive income (loss)	318	(311)
Balance, ending	265,918	244,240
Total
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(32,671)	(37,703)
Balance, ending	(33,546)	(40,084)
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(25,591)	(30,761)
Other comprehensive loss before reclassifications	(1,193)	(2,070)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	(26,784)	(32,831)
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(7,080)	(6,942)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	318	(311)
Balance, ending	$ (6,762)	$ (7,253)

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
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 96	$ 99	$ 193	$ 198
Interest cost	103	127	206	256
Expected return on plan assets	(97)	(109)	(194)	(220)
Amortization of actuarial losses	102	76	204	153
Net periodic benefit cost	204	193	409	387
Other Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net service cost	9	31	18	62
Interest cost	17	33	34	66
Expected return on plan assets	0	0	0	0
Amortization of actuarial losses	5	34	10	68
Net periodic benefit cost	$ 31	$ 98	$ 62	$ 196

Share-Based Compensation - (Nar

Share-Based Compensation - (Narrative) (Details) $ in Millions	May 27, 2021USD ($)shares	Mar. 08, 2021USD ($)shares	Mar. 04, 2021USD ($)peopleshares	Jul. 03, 2021shares
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)				320,654
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			50.00%
Weighted average grant date fair value | $	$ 0.3	$ 0.6	$ 1.7
Number of RSUs granted (in shares)	9,936	17,793	52,486
Award vesting period (in years)		3 years	3 years
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance based units on total units approved		75.00%
Award vesting rights (percentage)		25.00%	50.00%
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance based units on total units approved		50.00%
Award vesting rights (percentage)		50.00%

Share-Based Compensation - (Sch

Share-Based Compensation - (Schedule of Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Restricted stock units	$ 576	$ 378	$ 942	$ 757

Segment Information - (Narrativ

Segment Information - (Narrative) (Details)	6 Months Ended
	Jul. 03, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - (Schedule

Segment Information - (Schedule of Segment Reporting) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 75,339	$ 59,146	$ 145,928	$ 126,842
Gross profit	29,798	23,110	58,420	48,175
Operating income	4,924	3,971	11,363	8,615
Acquisition costs	(1,198)	0	(1,198)	0
Impairment of goodwill and indefinite-lived intangibles	(1,223)	0	(1,223)	0
Restructuring costs	0	(499)	0	(629)
Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	33,308	31,785	66,019	62,262
Force Sensors
Segment Reporting Information [Line Items]
Net revenues	17,216	8,916	34,149	23,611
Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	24,815	18,445	45,760	40,969
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	75,339	59,146	145,928	126,842
Gross profit	29,798	23,110	58,420	48,175
Operating Segments | Foil Technology Products
Segment Reporting Information [Line Items]
Net revenues	33,308	31,785	66,019	62,262
Gross profit	12,942	13,286	25,981	24,487
Operating income	7,219	8,070	14,052	13,454
Impairment of goodwill and indefinite-lived intangibles	(1,223)	0	(1,223)	0
Restructuring costs	0	(341)	0	(443)
Operating Segments | Force Sensors
Segment Reporting Information [Line Items]
Net revenues	17,216	8,916	34,149	23,611
Gross profit	5,969	1,038	12,008	4,610
Operating income	3,474	(1,013)	6,977	191
Restructuring costs	0	(80)	0	(108)
Operating Segments | Weighing and Control Systems
Segment Reporting Information [Line Items]
Net revenues	24,815	18,445	45,760	40,969
Gross profit	10,887	8,786	20,431	19,078
Operating income	4,595	4,019	8,419	8,687
Acquisition costs	(1,198)	0	(1,198)	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(7,943)	(6,606)	(15,664)	(13,088)
Acquisition costs	(1,198)	0	(1,198)	0
Impairment of goodwill and indefinite-lived intangibles	(1,223)	0	(1,223)	0
Restructuring costs	0	(499)	0	(629)
Corporate/Other
Segment Reporting Information [Line Items]
Restructuring costs	$ 0	$ (78)	$ 0	$ (78)

Segment Information - (Interseg

Segment Information - (Intersegment Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 75,339	$ 59,146	$ 145,928	$ 126,842
Foil Technology Products
Segment Reporting Information [Line Items]
Total revenue	33,308	31,785	66,019	62,262
Foil Technology Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	959	868	1,920	1,592
Weighing and Control Systems
Segment Reporting Information [Line Items]
Total revenue	24,815	18,445	45,760	40,969
Weighing and Control Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	$ 150	$ 124	$ 264	$ 211

Earnings Per Share - (Computati

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
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Numerator:
Net earnings attributable to VPG stockholders	$ 3,920	$ 1,759	$ 8,881	$ 5,071
Denominator:
Weighted average shares (in shares)	13,618	13,571	13,605	13,556
Effect of dilutive securities:
Restricted stock units (in shares)	28	38	33	42
Dilutive potential common shares	28	38	33	42
Denominator for diluted earnings per share:
Adjusted weighted average shares (in shares)	13,646	13,609	13,638	13,598
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.29	$ 0.13	$ 0.65	$ 0.37
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.29	$ 0.13	$ 0.65	$ 0.37

Additional Financial Statemen_3

Additional Financial Statement Information - (Schedule of Other Items in Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange loss	$ (174)	$ (1,185)	$ 561	$ (285)
Interest income	20	109	65	176
Pension expense	(143)	(164)	(280)	(323)
Other	(29)	(33)	(99)	(158)
Other nonoperating income (expense)	$ (326)	$ (1,273)	$ 247	$ (590)

Fair Value Measurements - (Sche

Fair Value Measurements - (Schedule of Assets and Liabilities at Fair Value, Recurring) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 5,995	$ 5,601
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	80	61
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	5,915	5,540
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 - (Narrativ

Restructuring Costs - (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 0	$ 499	$ 0	$ 629

Restructuring Costs - (Details)

Restructuring Costs - (Details) - Employee Severance $ in Thousands	6 Months Ended
	Jul. 03, 2021USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 63
Cash payments	(51)
Restructuring reserve, ending balance	$ 12