Vishay Precision (VPG) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 02, 2022	Aug. 09, 2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2022
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	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,631,588
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,022,887

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 79,429	$ 84,335
Accounts receivable, net	58,674	58,265
Inventories:
Raw materials	29,484	25,464
Work in process	28,126	23,851
Finished goods	26,728	27,112
Inventories, net	84,338	76,427
Prepaid expenses and other current assets	15,228	15,916
Total current assets	237,669	234,943
Property and equipment:
Land	4,119	4,241
Buildings and improvements	68,339	68,778
Machinery and equipment	122,388	122,202
Software	9,303	8,871
Construction in progress	8,305	7,747
Accumulated depreciation	(130,506)	(130,619)
Property and equipment, net	81,948	81,220
Goodwill	45,872	45,830
Intangible assets, net	50,426	52,437
Operating lease right of use asset	25,783	27,764
Other assets	16,680	19,695
Total assets	458,378	461,889
Current liabilities:
Trade accounts payable	13,172	14,876
Payroll and related expenses	17,872	23,772
Other accrued expenses	23,562	17,596
Income taxes	478	3,774
Current portion of operating lease liabilities	4,343	4,610
Total current liabilities	59,427	64,628
Long-term debt, less current portion	60,758	60,714
Deferred income taxes	6,096	5,848
Operating lease liabilities	21,749	25,140
Other liabilities	14,157	16,264
Accrued pension and other postretirement costs	10,841	12,253
Total liabilities	173,028	184,847
Commitments and contingencies
Equity:
Treasury stock	(8,765)	(8,765)
Capital in excess of par value	199,749	199,151
Retained earnings	137,407	120,296
Accumulated other comprehensive loss	(44,581)	(35,008)
Total Vishay Precision Group, Inc. stockholders' equity	285,238	277,099
Noncontrolling interests	112	(57)
Total equity	285,350	277,042
Total liabilities and equity	458,378	461,889
Common Stock
Equity:
Common stock	1,325	1,322
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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Income Statement [Abstract]
Net revenues	$ 88,618	$ 75,339	$ 176,283	$ 145,928
Costs of products sold	51,284	45,541	103,699	87,508
Gross profit	37,334	29,798	72,584	58,420
Selling, general, and administrative expenses	25,879	22,453	52,553	44,636
Acquisition costs	0	1,198	0	1,198
Impairment of goodwill and indefinite-lived intangibles	0	1,223	0	1,223
Restructuring costs	904	0	1,165	0
Operating income	10,551	4,924	18,866	11,363
Other income (expense):
Interest expense	(428)	(273)	(757)	(578)
Other	3,344	(326)	3,783	247
Other income (expense)	2,916	(599)	3,026	(331)
Income before taxes	13,467	4,325	21,892	11,032
Income tax expense	2,587	262	4,328	2,026
Net earnings	10,880	4,063	17,564	9,006
Less: net earnings attributable to noncontrolling interests	125	143	453	125
Net earnings attributable to VPG stockholders	$ 10,755	$ 3,920	$ 17,111	$ 8,881
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.79	$ 0.29	$ 1.25	$ 0.65
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.79	$ 0.29	$ 1.25	$ 0.65
Weighted average shares outstanding - basic (in shares)	13,648	13,618	13,643	13,605
Weighted average shares outstanding - diluted (in shares)	13,692	13,646	13,684	13,638

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 10,880	$ 4,063	$ 17,564	$ 9,006
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(7,943)	607	(9,735)	(1,193)
Pension and other postretirement actuarial items	81	109	162	318
Other comprehensive loss	(7,862)	716	(9,573)	(875)
Comprehensive income	3,018	4,779	7,991	8,131
Less: comprehensive income attributable to noncontrolling interests	125	143	453	125
Comprehensive income attributable to VPG stockholders	$ 2,893	$ 4,636	$ 7,538	$ 8,006

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Operating activities
Net earnings	$ 17,564	$ 9,006
Adjustments to reconcile net earnings to net cash provided by operating activities:
Impairment of goodwill and indefinite-lived intangibles	0	1,223
Depreciation and amortization	7,622	7,108
Loss (gain) on sale of property and equipment	(178)	44
Reclassification of foreign currency translation adjustment related to disposal of subsidiary	191	0
Share-based compensation expense	1,024	942
Inventory write-offs for obsolescence	866	1,135
Deferred income taxes	1,116	(1,110)
Other	(3,485)	(1,820)
Net changes in operating assets and liabilities:
Accounts receivable, net	(3,434)	(776)
Inventories, net	(10,739)	(7,744)
Prepaid expenses and other current assets	254	314
Trade accounts payable	14	1,715
Other current liabilities	(2,059)	2,341
Net cash provided by operating activities	8,756	12,378
Investing activities
Capital expenditures	(8,815)	(8,309)
Proceeds from sale of property and equipment	380	16
Purchase of business, net of cash acquired	0	(47,216)
Net cash used in investing activities	(8,435)	(55,509)
Financing activities
Principal payments on long-term debt	0	(18)
Proceeds from revolving facility	0	20,000
Distributions to noncontrolling interests	(284)	(167)
Payments of employee taxes on certain share-based arrangements	(435)	(846)
Net cash (used in) provided by financing activities	(719)	18,969
Effect of exchange rate changes on cash and cash equivalents	(4,508)	(820)
Decrease in cash and cash equivalents	(4,906)	(24,982)
Cash and cash equivalents at beginning of period	84,335	98,438
Cash and cash equivalents at end of period	79,429	73,456
Supplemental disclosure of investing transactions:
Capital expenditures purchased	(8,432)	(6,353)
Capital expenditures accrued but not yet paid	$ 2,684	$ 606

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, 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 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 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)
Balance, beginning at Dec. 31, 2021	277,042	277,099	1,322	103	(8,765)	199,151	120,296	(35,008)	(57)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	17,564	17,111					17,111		453
Other comprehensive income (loss)	(9,573)	(9,573)						(9,573)
Share-based compensation expense	1,024	1,024				1,024
Restricted stock issuances	(423)	(423)	3			(426)
Distributions to noncontrolling interests	(284)								(284)
Balance, ending at Jul. 02, 2022	285,350	285,238	1,325	103	(8,765)	199,749	137,407	(44,581)	112
Balance, beginning at Apr. 02, 2022	281,843	281,818	1,324	103	(8,765)	199,223	126,652	(36,719)	25
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	10,880	10,755					10,755		125
Other comprehensive income (loss)	(7,862)	(7,862)						(7,862)
Share-based compensation expense	527	527				527
Restricted stock issuances	0	0	1			(1)
Distributions to noncontrolling interests	(38)								(38)
Balance, ending at Jul. 02, 2022	$ 285,350	$ 285,238	$ 1,325	$ 103	$ (8,765)	$ 199,749	$ 137,407	$ (44,581)	$ 112

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Equity (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Common Stock
Restricted stock issuance (shares)	10,531	15,564	28,368	50,316

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Background Vishay Precision Group, Inc. (“VPG” or the “Company”) is a global, diversified company focused on precision measurement sensing technologies, including specialized sensors, weighing solutions, and measurement systems. Many of our precision measurement sensing products and solutions are “designed-in” by our customers, and address growing applications across a diverse array of industries and markets. Our products are marketed under a variety of brand names that we believe are characterized as having a very high level of precision and quality, and we employ an operationally diversified structure to manage our businesses. 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, 2021 and 2020 and for each of the three years in the period ended December 31, 2021, included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 4, 2022. The results of operations for the fiscal quarter ended July 2, 2022 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 2022 and 2021 end on the following dates: 2022 2021 Quarter 1 April 2, April 3, Quarter 2 July 2, July 3, Quarter 3 October 1, October 2, Quarter 4 December 31, December 31,

Revenues

Revenues	6 Months Ended
	Jul. 02, 2022
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 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 13,469 $ 12,463 $ 11,308 $ 37,240 $ 9,437 $ 12,932 $ 7,226 $ 29,595 United Kingdom 933 3,859 161 4,953 744 4,195 358 5,297 Other Europe 8,024 8,820 1,117 17,961 6,396 9,897 534 16,827 Israel 8,050 110 — 8,160 5,284 261 — 5,545 Asia 9,804 3,207 811 13,822 9,315 4,390 1,027 14,732 Canada — — 6,482 6,482 — — 3,343 3,343 Total $ 40,280 $ 28,459 $ 19,879 $ 88,618 $ 31,176 $ 31,675 $ 12,488 $ 75,339 Six Fiscal Months Ended July 2, 2022 Six Fiscal Months Ended July 3, 2021 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 26,475 $ 26,541 $ 21,773 $ 74,789 $ 19,143 $ 25,512 $ 10,857 $ 55,512 United Kingdom 1,810 8,193 459 10,462 1,604 8,775 396 10,775 Other Europe 15,816 19,351 2,999 38,166 13,577 19,830 722 34,129 Israel 15,381 300 — 15,681 11,725 391 — 12,116 Asia 18,548 6,842 1,821 27,211 16,942 8,126 1,882 26,950 Canada — — 9,974 9,974 — 9 6,437 6,446 Total $ 78,030 $ 61,227 $ 37,026 $ 176,283 $ 62,991 $ 62,643 $ 20,294 $ 145,928 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Six fiscal months ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Test & Measurement $ 21,483 $ 16,279 $ 39,456 $ 30,695 Avionics, Military & Space 6,878 5,872 15,040 11,902 Transportation 13,195 11,930 27,149 21,484 Other Markets 18,035 17,489 39,185 35,034 Industrial Weighing 12,944 12,042 26,153 24,047 General Industrial 5,325 4,173 11,191 8,255 Steel 10,758 7,554 18,109 14,511 Total $ 88,618 $ 75,339 $ 176,283 $ 145,928 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, 2021 $ 3,570 $ 4,765 Balance at July 2, 2022 2,416 8,407 (Decrease)/increase $ (1,154) $ 3,642 The amount of revenue recognized during the six fiscal months ended July 2, 2022 that was included in the contract liability balance at December 31, 2021 was

Acquisition

Acquisition	6 Months Ended
	Jul. 02, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition Diversified Technical Systems, Inc. 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. 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 Measurement Systems segment. The following table summarizes the final fair values assigned to the assets and liabilities of DTS as of June 1, 2021 (in thousands): June 1, 2021 Working capital $ 12,494 Property and equipment 1,209 Deferred income tax liability (6,215) 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 31,183 Purchase price $ 47,216 Goodwill $ 16,033 The Company utilizes certain valuations and studies to determine the fair value of the tangible and intangible assets acquired. The 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 is deductible for income tax purposes. The Company recorded acquisition costs associated with this transaction of $1.2 million in the second quarter of 2021, which included legal fees, appraisal fees, investments banker fees and insurance costs. Included in the results of the operations of the Company for the fiscal quarter ended July 2, 2022, are net revenues of $6.9 million from DTS and a net loss of $0.6 million from DTS. DTS results include amortization of the inventory step-up of $0.7 million for the fiscal quarter ended July 2, 2022, and amortization of intangible assets of $0.4 million for the fiscal quarter ended July 2, 2022. Included in the results of the operations of the Company for the six fiscal months ended July 2, 2022 are net revenues of $14.6 million from DTS and a net loss of $0.5 million from DTS. DTS results include amortization of the inventory step-up of $1.1 million and amortization of intangible assets of $0.7 million for the six fiscal months ended July 2, 2022. 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, 2021: Fiscal quarter ended Six fiscal months ended July 3, 2021 July 3, 2021 Pro forma net revenues $ 80,243 $ 159,164 Pro forma net earnings attributable to VPG stockholders $ 6,929 $ 12,262 Pro forma basic earnings per share attributable to VPG stockholders $ 0.51 $ 0.90 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.51 $ 0.90

Goodwill

Goodwill	6 Months Ended
	Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The Company tests the goodwill in each of its goodwill reporting units for impairment at least annually, as of the first day of its fourth quarter, and whenever events or changes in circumstances occur indicating that a possible impairment may have been incurred. The change in the carrying amount of goodwill by segment is as follows (in thousands): Total Measurement Systems Weighing Solutions KELK Acquisition DSI Acquisition DTS Acquisition Stress-Tek Acquisition Balance at December 31, 2021 $ 45,830 $ 6,706 $ 16,910 $ 15,903 $ 6,311 Adjustment to goodwill acquired 130 — — 130 — Foreign currency translation adjustment (88) (58) (30) — — Balance at July 2, 2022 $ 45,872 $ 6,648 $ 16,880 $ 16,033 $ 6,311

Leases

Leases	6 Months Ended
	Jul. 02, 2022
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 fourteen years. The Company has no finance leases. Leases recorded on the balance sheet consist of the following (in thousands) : Leases July 2, 2022 December 31, 2021 Assets Operating lease right of use asset $ 25,783 $ 27,764 Liabilities Operating lease - current $ 4,343 $ 4,610 Operating lease - non-current $ 21,749 $ 25,140 Other information related to lease term and discount rate is as follows: July 2, 2022 Operating leases weighted average remaining lease term (in years) 8.09 years Operating leases weighted average discount rate 3.1 % The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Operating lease cost $ 1,299 $ 1,258 $ 2,609 $ 2,439 Short-term lease cost 17 35 42 68 Sublease income (105) (19) (217) (28) Total net lease cost $ 1,211 $ 1,274 $ 2,434 $ 2,479 Right of use assets obtained in exchange for new operating lease liability during 2021 were $0.5 million. The Company paid $2.6 million and $2.4 million for its operating leases for each of the six fiscal months ended July 2, 2022 and July 3, 2021, which are included in operating cash flows on the consolidated condensed statements of cash flows. Undiscounted maturities of operating lease payments as of July 2, 2022 are summarized as follows (in thousands) : 2022 (excluding the six months ended July 2, 2022) $ 2,463 2023 4,510 2024 3,851 2025 3,270 2026 2,945 Thereafter 12,421 Total future minimum lease payments $ 29,460 Less: amount representing interest (3,368) Present value of future minimum lease payments $ 26,092

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2022
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 2, 2022 was 19.2% compared to 6.1% for the fiscal quarter ended July 3, 2021. The effective tax rate for the six fiscal months ended July 2, 2022 was 19.8% compared to 18.4% for the six fiscal months ended July 3, 2021. On December 28, 2021, the United States Treasury Department and the Internal Revenue Service issued final regulations relating to the foreign tax credit and clarifying the rules relating to foreign derived intangible income. These new regulations apply to tax years beginning on or after December 28, 2021. The Company is still in the process of analyzing the potential tax impact that these regulations could have on the Company’s tax position. 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
	Jul. 02, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : July 2, 2022 December 31, 2021 2020 Credit Agreement - Revolving Facility $ 61,000 $ 61,000 Deferred financing costs (242) (286) Total long-term debt $ 60,758 $ 60,714

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 02, 2022
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, 2022 $ (30,276) $ (4,732) $ (35,008) Other comprehensive loss before reclassifications (9,926) — (9,926) Amounts reclassified from accumulated other comprehensive income 191 162 353 Balance at July 2, 2022 $ (40,011) $ (4,570) $ (44,581) 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 — 318 318 Balance at July 3, 2021 $ (26,784) $ (6,762) $ (33,546)

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Jul. 02, 2022
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 $ 81 $ 7 $ 96 $ 9 Interest cost 120 17 103 17 Expected return on plan assets (119) — (97) — Amortization of actuarial losses 72 1 102 5 Net periodic benefit cost $ 154 $ 25 $ 204 $ 31 Six fiscal months ended July 2, 2022 Six fiscal months ended July 3, 2021 Pension OPEB Pension OPEB Net service cost $ 165 $ 14 $ 193 $ 18 Interest cost 243 34 206 34 Expected return on plan assets (242) — (194) — Amortization of actuarial losses 146 2 204 10 Net periodic benefit cost $ 312 $ 50 $ 409 $ 62

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 02, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation On May 26, 2022, t he Company’s stockholders voted to approve the adoption of the Vishay Precision Group, Inc. 2022 Stock Incentive Plan (the "2022 plan"), which replaced the Amended and Restated Vishay Precision Group, Inc. 2010 Stock Incentive Program (the "previous plan"). The 2022 plan permits issuance of up to 608,000 shares of common stock, which includes approximately 308,000 shares that were reserved for issuance under the previous plan and up to an additional 197,685 additional shares underlying awards outstanding under the previous plan. At July 2, 2022, the Company had reserved 591,466 shares of common stock for future grants of equity awards (restricted stock, unrestricted stock, restricted stock units ("RSUs"), or stock options) pursuant to the 2022 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. If shares are withheld for payment of taxes, those shares do not become available for grant under the 2022 plan. On March 3, 2022 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 $1.5 million and were comprised of 47,831 RSUs. Fifty percent of these awards will vest on January 1, 2025, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2025, 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 9, 2022, 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 $0.5 million and were comprised of 16,324 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, 2025 subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2025, 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 January 1, 2022 and in accordance with the Company's 2017 Non-Employee Director Compensation Plan (the "Director Plan"), the Board of Directors approved the issuance of an aggregate of 595 RSUs to the newly-appointed independent member of the Board of Directors. This award represented a pro-rated portion of the annual equity grant made to non-executive directors pursuant to the Director Plan. The aggregate grant-date fair value of this award is immaterial, and the award vested on May 26, 2022, the date of the 2022 Annual Stockholders Meeting. On May 26, 2022 and in accordance with the Company's 2017 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 16,534 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 $0.5 million and will vest on the earlier of the 2023 Annual Stockholders Meeting or May 26, 2023, 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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Restricted stock units $ 527 $ 576 $ 1,024 $ 942

Segment Information

Segment Information	6 Months Ended
	Jul. 02, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information VPG reports in three product segments: the Sensors segment, the Weighing Solutions segment, and the Measurement Systems segment. The Sensors reporting segment is comprised of the foil resistor and strain gage operating segments. The Weighing Solutions segment is comprised of specialized modules and systems used to precisely measure weight, force torque, and pressure. The Measurement Systems reporting segment is comprised of highly specialized systems for steel production, materials development, and safety testing. The chief operating decision maker ("CODM") is our chief executive officer. The CODM evaluates each operating segment's performance. The evaluation of the segment's performance is based on multiple performance measures including gross profits, revenues, and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring and severance costs, impairment of goodwill and indefinite-lived intangible assets, acquisition costs, and other items is meaningful because they relate to occurrences or events that are outside of our core operations, and management believes that the use of these measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. The following table sets forth reporting segment information. The reporting segment information reported for the fiscal quarter and six fiscal months ended July 3, 2021 has been recast to reflect the new reporting segments adopted by the Company in the fourth quarter of 2021, as described in the consolidated financial statements as of December 31, 2021, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 4, 2022 (in thousands) : Fiscal quarter ended Six fiscal months ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Net revenues: Sensors $ 40,280 $ 31,176 $ 78,030 $ 62,991 Weighing Solutions 28,459 31,675 61,227 62,643 Measurement Systems 19,879 12,488 37,026 20,294 Total $ 88,618 $ 75,339 $ 176,283 $ 145,928 Gross profit: Sensors $ 17,831 $ 12,120 $ 32,117 $ 24,953 Weighing Solutions 9,585 11,791 21,664 23,565 Measurement Systems 9,918 5,887 18,803 9,902 Total $ 37,334 $ 29,798 $ 72,584 $ 58,420 Reconciliation of segment operating income to consolidated results: Sensors $ 13,060 $ 7,477 $ 22,018 $ 15,146 Weighing Solutions 4,177 6,097 10,391 11,914 Measurement Systems 3,263 1,714 5,474 2,388 Unallocated G&A expenses (9,045) (7,943) (17,852) (15,664) Acquisition costs — (1,198) — (1,198) Impairment of goodwill and indefinite-lived intangibles — (1,223) — (1,223) Restructuring costs (904) — (1,165) — Operating income $ 10,551 $ 4,924 $ 18,866 $ 11,363 Acquisition costs: Measurement Systems — (1,198) — (1,198) $ — $ (1,198) $ — $ (1,198) Impairment of goodwill and indefinite-lived intangibles: Measurement Systems — (1,223) — (1,223) $ — $ (1,223) $ — $ (1,223) Restructuring costs: Sensors $ (904) $ — $ (1,107) $ — Measurement Systems — — (58) — $ (904) $ — $ (1,165) $ — 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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Sensors to Weighing Solutions $ 433 $ 951 $ 822 $ 1,905 Sensors to Measurement Systems 98 7 159 15

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 02, 2022
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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 10,755 $ 3,920 $ 17,111 $ 8,881 Denominator: Denominator for basic earnings per share: Weighted average shares 13,648 13,618 13,643 13,605 Effect of dilutive securities: Restricted stock units 44 28 41 33 Dilutive potential common shares 44 28 41 33 Denominator for diluted earnings per share: Adjusted weighted average shares 13,692 13,646 13,684 13,638 Basic earnings per share attributable to VPG stockholders $ 0.79 $ 0.29 $ 1.25 $ 0.65 Diluted earnings per share attributable to VPG stockholders $ 0.79 $ 0.29 $ 1.25 $ 0.65

Additional Financial Statement

Additional Financial Statement Information	6 Months Ended
	Jul. 02, 2022
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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Foreign exchange gain (loss) $ 3,380 $ (174) $ 3,934 $ 561 Interest income 80 20 144 65 Pension expense (104) (143) (180) (280) Other (12) (29) (115) (99) $ 3,344 $ (326) $ 3,783 $ 247 Foreign currency exchange gains represent the impact of changes in foreign currency exchange rates. For the fiscal quarter and six fiscal months ended July 2, 2022, the change in foreign exchange gains and losses during the period, as compared to the prior year periods, is largely due to exposure to currency fluctuations with the Israeli shekel, the Japanese yen and the British pound. The change in the dollar-shekel exchange rate resulted in a favorable foreign exchange impact primarily related to the shekel-denominated lease liability for the Sensors facility in Israel. .Included in Other for the six fiscal months ended July 2, 2022 is a $0.2 million loss on the liquidation of two of the Company's European subsidiaries.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 02, 2022
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 2, 2022 Assets Assets held in rabbi trusts $ 5,477 $ 97 $ 5,380 $ — December 31, 2021 Assets Assets held in rabbi trusts $ 6,158 $ 49 $ 6,109 $ — 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 2, 2022 and December 31, 2021, 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 cash equivalents held in the rabbi trust are 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 2, 2022 and December 31, 2021 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. 02, 2022
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring CostsRestructuring 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 $0.9 million and $0.0 million of restructuring costs during the fiscal quarter ended July 2, 2022 and July 3, 2021, respectively and $1.2 million and $0.0 million of restructuring costs during the six fiscal months ended July 2, 2022 and July 3, 2021, respectively. Restructuring costs were comprised primarily of employee termination costs, including severance and statutory retirement allowances, and were incurred in connection with various cost reduction programs. The following table summarizes recent activity related to all restructuring programs. The accrued restructuring liability balance as of July 2, 2022 and December 31, 2021, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2021 $ — Restructuring charges in 2022 1,165 Cash payments (616) Foreign currency translation 8 Balance at July 2, 2022 $ 557

Subsequent Event

Subsequent Event	6 Months Ended
	Jul. 02, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On August 8, 2022, the Company announced that its Board of Directors approved a stock repurchase plan, authorizing the Company to repurchase in the aggregate up to 600,000 shares of its outstanding common stock until August 11, 2023.

Basis of Presentation - (Polici

Basis of Presentation - (Policies)	6 Months Ended
	Jul. 02, 2022
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 2022 and 2021 end on the following dates: 2022 2021 Quarter 1 April 2, April 3, Quarter 2 July 2, July 3, Quarter 3 October 1, October 2, Quarter 4 December 31, December 31,

Basis of Presentation - (Tables

Basis of Presentation - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2022 and 2021 end on the following dates: 2022 2021 Quarter 1 April 2, April 3, Quarter 2 July 2, July 3, Quarter 3 October 1, October 2, Quarter 4 December 31, December 31,

Revenues - (Tables)

Revenues - (Tables)	6 Months Ended
	Jul. 02, 2022
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 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 13,469 $ 12,463 $ 11,308 $ 37,240 $ 9,437 $ 12,932 $ 7,226 $ 29,595 United Kingdom 933 3,859 161 4,953 744 4,195 358 5,297 Other Europe 8,024 8,820 1,117 17,961 6,396 9,897 534 16,827 Israel 8,050 110 — 8,160 5,284 261 — 5,545 Asia 9,804 3,207 811 13,822 9,315 4,390 1,027 14,732 Canada — — 6,482 6,482 — — 3,343 3,343 Total $ 40,280 $ 28,459 $ 19,879 $ 88,618 $ 31,176 $ 31,675 $ 12,488 $ 75,339 Six Fiscal Months Ended July 2, 2022 Six Fiscal Months Ended July 3, 2021 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 26,475 $ 26,541 $ 21,773 $ 74,789 $ 19,143 $ 25,512 $ 10,857 $ 55,512 United Kingdom 1,810 8,193 459 10,462 1,604 8,775 396 10,775 Other Europe 15,816 19,351 2,999 38,166 13,577 19,830 722 34,129 Israel 15,381 300 — 15,681 11,725 391 — 12,116 Asia 18,548 6,842 1,821 27,211 16,942 8,126 1,882 26,950 Canada — — 9,974 9,974 — 9 6,437 6,446 Total $ 78,030 $ 61,227 $ 37,026 $ 176,283 $ 62,991 $ 62,643 $ 20,294 $ 145,928 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Six fiscal months ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Test & Measurement $ 21,483 $ 16,279 $ 39,456 $ 30,695 Avionics, Military & Space 6,878 5,872 15,040 11,902 Transportation 13,195 11,930 27,149 21,484 Other Markets 18,035 17,489 39,185 35,034 Industrial Weighing 12,944 12,042 26,153 24,047 General Industrial 5,325 4,173 11,191 8,255 Steel 10,758 7,554 18,109 14,511 Total $ 88,618 $ 75,339 $ 176,283 $ 145,928
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, 2021 $ 3,570 $ 4,765 Balance at July 2, 2022 2,416 8,407 (Decrease)/increase $ (1,154) $ 3,642

Acquisition - (Tables)

Acquisition - (Tables)	6 Months Ended
	Jul. 02, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the final fair values assigned to the assets and liabilities of DTS as of June 1, 2021 (in thousands): June 1, 2021 Working capital $ 12,494 Property and equipment 1,209 Deferred income tax liability (6,215) 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 31,183 Purchase price $ 47,216 Goodwill $ 16,033
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, 2021: Fiscal quarter ended Six fiscal months ended July 3, 2021 July 3, 2021 Pro forma net revenues $ 80,243 $ 159,164 Pro forma net earnings attributable to VPG stockholders $ 6,929 $ 12,262 Pro forma basic earnings per share attributable to VPG stockholders $ 0.51 $ 0.90 Pro forma diluted earnings per share attributable to VPG stockholders $ 0.51 $ 0.90

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jul. 02, 2022
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 Measurement Systems Weighing Solutions KELK Acquisition DSI Acquisition DTS Acquisition Stress-Tek Acquisition Balance at December 31, 2021 $ 45,830 $ 6,706 $ 16,910 $ 15,903 $ 6,311 Adjustment to goodwill acquired 130 — — 130 — Foreign currency translation adjustment (88) (58) (30) — — Balance at July 2, 2022 $ 45,872 $ 6,648 $ 16,880 $ 16,033 $ 6,311

Leases - (Tables)

Leases - (Tables)	6 Months Ended
	Jul. 02, 2022
Leases [Abstract]
Leases Recorded on the Balance Sheet	Leases recorded on the balance sheet consist of the following (in thousands) : Leases July 2, 2022 December 31, 2021 Assets Operating lease right of use asset $ 25,783 $ 27,764 Liabilities Operating lease - current $ 4,343 $ 4,610 Operating lease - non-current $ 21,749 $ 25,140
Other Information Related to Lease Term and Discount Rate	Other information related to lease term and discount rate is as follows: July 2, 2022 Operating leases weighted average remaining lease term (in years) 8.09 years Operating leases weighted average discount rate 3.1 %
Components of Lease Expense	The components of lease expense are as follows (in thousands) : Fiscal quarter ended Six Fiscal Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Operating lease cost $ 1,299 $ 1,258 $ 2,609 $ 2,439 Short-term lease cost 17 35 42 68 Sublease income (105) (19) (217) (28) Total net lease cost $ 1,211 $ 1,274 $ 2,434 $ 2,479
Maturities of Operating Lease Liabilities	Undiscounted maturities of operating lease payments as of July 2, 2022 are summarized as follows (in thousands) : 2022 (excluding the six months ended July 2, 2022) $ 2,463 2023 4,510 2024 3,851 2025 3,270 2026 2,945 Thereafter 12,421 Total future minimum lease payments $ 29,460 Less: amount representing interest (3,368) Present value of future minimum lease payments $ 26,092

Long-Term Debt - (Tables)

Long-Term Debt - (Tables)	6 Months Ended
	Jul. 02, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : July 2, 2022 December 31, 2021 2020 Credit Agreement - Revolving Facility $ 61,000 $ 61,000 Deferred financing costs (242) (286) Total long-term debt $ 60,758 $ 60,714

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) - (Tables)	6 Months Ended
	Jul. 02, 2022
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, 2022 $ (30,276) $ (4,732) $ (35,008) Other comprehensive loss before reclassifications (9,926) — (9,926) Amounts reclassified from accumulated other comprehensive income 191 162 353 Balance at July 2, 2022 $ (40,011) $ (4,570) $ (44,581) 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 — 318 318 Balance at July 3, 2021 $ (26,784) $ (6,762) $ (33,546)

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits - (Tables)	6 Months Ended
	Jul. 02, 2022
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 $ 81 $ 7 $ 96 $ 9 Interest cost 120 17 103 17 Expected return on plan assets (119) — (97) — Amortization of actuarial losses 72 1 102 5 Net periodic benefit cost $ 154 $ 25 $ 204 $ 31 Six fiscal months ended July 2, 2022 Six fiscal months ended July 3, 2021 Pension OPEB Pension OPEB Net service cost $ 165 $ 14 $ 193 $ 18 Interest cost 243 34 206 34 Expected return on plan assets (242) — (194) — Amortization of actuarial losses 146 2 204 10 Net periodic benefit cost $ 312 $ 50 $ 409 $ 62

Share-Based Compensation - (Tab

Share-Based Compensation - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Restricted stock units $ 527 $ 576 $ 1,024 $ 942

Segment Information - (Tables)

Segment Information - (Tables)	6 Months Ended
	Jul. 02, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information. The reporting segment information reported for the fiscal quarter and six fiscal months ended July 3, 2021 has been recast to reflect the new reporting segments adopted by the Company in the fourth quarter of 2021, as described in the consolidated financial statements as of December 31, 2021, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 4, 2022 (in thousands) : Fiscal quarter ended Six fiscal months ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Net revenues: Sensors $ 40,280 $ 31,176 $ 78,030 $ 62,991 Weighing Solutions 28,459 31,675 61,227 62,643 Measurement Systems 19,879 12,488 37,026 20,294 Total $ 88,618 $ 75,339 $ 176,283 $ 145,928 Gross profit: Sensors $ 17,831 $ 12,120 $ 32,117 $ 24,953 Weighing Solutions 9,585 11,791 21,664 23,565 Measurement Systems 9,918 5,887 18,803 9,902 Total $ 37,334 $ 29,798 $ 72,584 $ 58,420 Reconciliation of segment operating income to consolidated results: Sensors $ 13,060 $ 7,477 $ 22,018 $ 15,146 Weighing Solutions 4,177 6,097 10,391 11,914 Measurement Systems 3,263 1,714 5,474 2,388 Unallocated G&A expenses (9,045) (7,943) (17,852) (15,664) Acquisition costs — (1,198) — (1,198) Impairment of goodwill and indefinite-lived intangibles — (1,223) — (1,223) Restructuring costs (904) — (1,165) — Operating income $ 10,551 $ 4,924 $ 18,866 $ 11,363 Acquisition costs: Measurement Systems — (1,198) — (1,198) $ — $ (1,198) $ — $ (1,198) Impairment of goodwill and indefinite-lived intangibles: Measurement Systems — (1,223) — (1,223) $ — $ (1,223) $ — $ (1,223) Restructuring costs: Sensors $ (904) $ — $ (1,107) $ — Measurement Systems — — (58) — $ (904) $ — $ (1,165) $ — 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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Sensors to Weighing Solutions $ 433 $ 951 $ 822 $ 1,905 Sensors to Measurement Systems 98 7 159 15

Earnings Per Share - (Tables)

Earnings Per Share - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Numerator: Numerator for basic earnings per share: Net earnings attributable to VPG stockholders $ 10,755 $ 3,920 $ 17,111 $ 8,881 Denominator: Denominator for basic earnings per share: Weighted average shares 13,648 13,618 13,643 13,605 Effect of dilutive securities: Restricted stock units 44 28 41 33 Dilutive potential common shares 44 28 41 33 Denominator for diluted earnings per share: Adjusted weighted average shares 13,692 13,646 13,684 13,638 Basic earnings per share attributable to VPG stockholders $ 0.79 $ 0.29 $ 1.25 $ 0.65 Diluted earnings per share attributable to VPG stockholders $ 0.79 $ 0.29 $ 1.25 $ 0.65

Additional Financial Statemen_2

Additional Financial Statement Information - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Foreign exchange gain (loss) $ 3,380 $ (174) $ 3,934 $ 561 Interest income 80 20 144 65 Pension expense (104) (143) (180) (280) Other (12) (29) (115) (99) $ 3,344 $ (326) $ 3,783 $ 247

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 Assets Assets held in rabbi trusts $ 5,477 $ 97 $ 5,380 $ — December 31, 2021 Assets Assets held in rabbi trusts $ 6,158 $ 49 $ 6,109 $ —

Restructuring Costs - (Tables)

Restructuring Costs - (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 and December 31, 2021, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2021 $ — Restructuring charges in 2022 1,165 Cash payments (616) Foreign currency translation 8 Balance at July 2, 2022 $ 557

Revenues - (Disaggregation of R

Revenues - (Disaggregation of Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 88,618	$ 75,339	$ 176,283	$ 145,928
United States
Disaggregation of Revenue [Line Items]
Total revenue	37,240	29,595	74,789	55,512
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	4,953	5,297	10,462	10,775
Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	17,961	16,827	38,166	34,129
Israel
Disaggregation of Revenue [Line Items]
Total revenue	8,160	5,545	15,681	12,116
Asia
Disaggregation of Revenue [Line Items]
Total revenue	13,822	14,732	27,211	26,950
Canada
Disaggregation of Revenue [Line Items]
Total revenue	6,482	3,343	9,974	6,446
Sensors
Disaggregation of Revenue [Line Items]
Total revenue	40,280	31,176	78,030	62,991
Sensors | United States
Disaggregation of Revenue [Line Items]
Total revenue	13,469	9,437	26,475	19,143
Sensors | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	933	744	1,810	1,604
Sensors | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	8,024	6,396	15,816	13,577
Sensors | Israel
Disaggregation of Revenue [Line Items]
Total revenue	8,050	5,284	15,381	11,725
Sensors | Asia
Disaggregation of Revenue [Line Items]
Total revenue	9,804	9,315	18,548	16,942
Sensors | Canada
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	28,459	31,675	61,227	62,643
Weighing Solutions | United States
Disaggregation of Revenue [Line Items]
Total revenue	12,463	12,932	26,541	25,512
Weighing Solutions | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	3,859	4,195	8,193	8,775
Weighing Solutions | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	8,820	9,897	19,351	19,830
Weighing Solutions | Israel
Disaggregation of Revenue [Line Items]
Total revenue	110	261	300	391
Weighing Solutions | Asia
Disaggregation of Revenue [Line Items]
Total revenue	3,207	4,390	6,842	8,126
Weighing Solutions | Canada
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	9
Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	19,879	12,488	37,026	20,294
Measurement Systems | United States
Disaggregation of Revenue [Line Items]
Total revenue	11,308	7,226	21,773	10,857
Measurement Systems | United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	161	358	459	396
Measurement Systems | Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	1,117	534	2,999	722
Measurement Systems | Israel
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Measurement Systems | Asia
Disaggregation of Revenue [Line Items]
Total revenue	811	1,027	1,821	1,882
Measurement Systems | Canada
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,482	$ 3,343	$ 9,974	$ 6,437

Revenues - (Disaggregation of_2

Revenues - (Disaggregation of Revenue by Market Sector) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 88,618	$ 75,339	$ 176,283	$ 145,928
Test & Measurement
Disaggregation of Revenue [Line Items]
Total revenue	21,483	16,279	39,456	30,695
Avionics, Military & Space
Disaggregation of Revenue [Line Items]
Total revenue	6,878	5,872	15,040	11,902
Transportation
Disaggregation of Revenue [Line Items]
Total revenue	13,195	11,930	27,149	21,484
Other Markets
Disaggregation of Revenue [Line Items]
Total revenue	18,035	17,489	39,185	35,034
Industrial Weighing
Disaggregation of Revenue [Line Items]
Total revenue	12,944	12,042	26,153	24,047
General Industrial
Disaggregation of Revenue [Line Items]
Total revenue	5,325	4,173	11,191	8,255
Steel
Disaggregation of Revenue [Line Items]
Total revenue	$ 10,758	$ 7,554	$ 18,109	$ 14,511

Revenues - (Contract Assets and

Revenues - (Contract Assets and Liabilities) (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2022 USD ($)
Movement in Contract Assets and Liabilities [Roll Forward]
Contract asset, unbilled revenue, beginning balance	$ 3,570
(Decrease)/increase in contract asset, unbilled revenue	(1,154)
Contract asset, unbilled revenue, ending balance	2,416
Contract liability, accrued customer advances, beginning balance	4,765
(Decrease)/increase in contract liability, accrued customer advances	3,642
Contract liability, accrued customer advances, ending balance	$ 8,407

Revenues - (Narrative) (Details

Revenues - (Narrative) (Details) $ in Millions	6 Months Ended
	Jul. 02, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Contract with customer, revenue recognized	$ 2.7

Acquisition - (Narrative) (Deta

Acquisition - (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 01, 2021	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Business Acquisition [Line Items]
Acquisition costs		$ 0	$ 1,198	$ 0	$ 1,198
Net earnings		10,755	3,920	17,111	$ 8,881
Amortization of intangible assets		400		700
DTS Acquisition
Business Acquisition [Line Items]
Purchase price	$ 47,216
Acquisition costs			$ 1,200
Revenues		6,900		14,600
Net earnings		(600)		(500)
Amortization of inventory step-up costs		$ 700		$ 1,100
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

Acquisition - (Schedule of Asse

Acquisition - (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Jul. 02, 2022	Dec. 31, 2021
Intangible assets:
Goodwill		$ 45,872	$ 45,830
DTS Acquisition
Business Acquisition [Line Items]
Working capital	$ 12,494
Property and equipment	1,209
Long-term deferred income tax liability	(6,215)
Intangible assets:
Total intangible assets	23,695
Fair value of acquired identifiable assets	31,183
Purchase price	47,216
Goodwill	16,033
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 - (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	Jul. 03, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma net revenues	$ 80,243	$ 159,164
Pro forma net earnings attributable to VPG stockholders	$ 6,929	$ 12,262
Pro forma basic earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.51	$ 0.90
Pro forma diluted earnings per share attributable to VPG stockholders (in dollars per share)	$ 0.51	$ 0.90

Goodwill - (Schedule of Goodwil

Goodwill - (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 45,830
Adjustment to goodwill acquired	130
Foreign currency translation adjustment	(88)
Ending balance	45,872
KELK Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	6,706
Foreign currency translation adjustment	(58)
Ending balance	6,648
DSI Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	16,910
Foreign currency translation adjustment	(30)
Ending balance	16,880
DTS Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	15,903
Adjustment to goodwill acquired	130
Foreign currency translation adjustment	(30)
Ending balance	16,033
Stress-Tek Acquisition | Weighing Solutions
Goodwill [Roll Forward]
Beginning balance	6,311
Ending balance	$ 6,311

Leases - (Narrative) (Details)

Leases - (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 0.5
Operating lease, payments	$ 2.6	$ 2.4
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)	14 years

Leases - (Leases Recorded on th

Leases - (Leases Recorded on the Balance Sheet) (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Assets
Operating lease right of use asset	$ 25,783	$ 27,764
Liabilities
Operating lease - current	4,343	4,610
Operating lease - non-current	$ 21,749	$ 25,140

Leases - (Other Information Rel

Leases - (Other Information Related to Leases) (Details)	Jul. 02, 2022
Leases [Abstract]
Operating leases weighted average remaining lease term (years)	8 years 1 month 2 days
Operating leases weighted average discount rate (percent)	3.10%

Leases - (Components of Lease E

Leases - (Components of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Leases [Abstract]
Operating lease cost	$ 1,299	$ 1,258	$ 2,609	$ 2,439
Short-term lease cost	17	35	42	68
Sublease income	(105)	(19)	(217)	(28)
Total net lease cost	$ 1,211	$ 1,274	$ 2,434	$ 2,479

Leases - (Maturities of Operati

Leases - (Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Jul. 02, 2022 USD ($)
Leases [Abstract]
2022 (excluding the six months ended July 2, 2022)	$ 2,463
2023	4,510
2024	3,851
2025	3,270
2026	2,945
Thereafter	12,421
Total future minimum lease payments	29,460
Less: amount representing interest	(3,368)
Present value of future minimum lease payments	$ 26,092

Income Taxes - (Details)

Income Taxes - (Details)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	19.20%	6.10%	19.80%	18.40%

Long-Term Debt - (Schedule of L

Long-Term Debt - (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Deferred financing costs	$ (242)	$ (286)
Total long-term debt	60,758	60,714
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Secured debt	$ 61,000	$ 61,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 277,042	$ 257,857
Other comprehensive loss before reclassifications	(9,926)	(1,193)
Amounts reclassified from accumulated other comprehensive income	353	318
Balance, ending	285,350	265,918
Total
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(35,008)	(32,671)
Balance, ending	(44,581)	(33,546)
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(30,276)	(25,591)
Other comprehensive loss before reclassifications	(9,926)	(1,193)
Amounts reclassified from accumulated other comprehensive income	191	0
Balance, ending	(40,011)	(26,784)
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(4,732)	(7,080)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	162	318
Balance, ending	$ (4,570)	$ (6,762)

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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 81	$ 96	$ 165	$ 193
Interest cost	120	103	243	206
Expected return on plan assets	(119)	(97)	(242)	(194)
Amortization of actuarial losses	72	102	146	204
Net periodic benefit cost	154	204	312	409
OPEB Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	7	9	14	18
Interest cost	17	17	34	34
Expected return on plan assets	0	0	0	0
Amortization of actuarial losses	1	5	2	10
Net periodic benefit cost	$ 25	$ 31	$ 50	$ 62

Share-Based Compensation - (Nar

Share-Based Compensation - (Narrative) (Details) $ in Millions	May 26, 2022 USD ($) shares	Mar. 09, 2022 USD ($) shares	Mar. 03, 2022 USD ($) people shares	Jan. 01, 2022 shares	Jul. 02, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (up to)	608,000
Number of shares reserved for issuance (in shares)	308,000
Number of shares available for grant (in shares)					591,466
Number of additional shares available for grant (in shares)	197,685
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of people granted awards | people			3
Percentage of performance based units on total units approved			50%
Weighted average grant date fair value | $	$ 0.5	$ 0.5	$ 1.5
Number of RSUs granted (in shares)	16,534	16,324	47,831	595
Award vesting period		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%
Award vesting rights (percentage)		25%	50%
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%
Award vesting rights (percentage)		50%

Share-Based Compensation - (Sch

Share-Based Compensation - (Schedule of Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Share-Based Payment Arrangement [Abstract]
Restricted stock units	$ 527	$ 576	$ 1,024	$ 942

Segment Information - (Narrativ

Segment Information - (Narrative) (Details)	6 Months Ended
	Jul. 02, 2022 segment
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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 88,618	$ 75,339	$ 176,283	$ 145,928
Gross profit	37,334	29,798	72,584	58,420
Operating income	10,551	4,924	18,866	11,363
Acquisition costs:	0	(1,198)	0	(1,198)
Impairment of goodwill and indefinite-lived intangibles:	0	(1,223)	0	(1,223)
Restructuring costs:	(904)	0	(1,165)	0
Sensors
Segment Reporting Information [Line Items]
Net revenues	40,280	31,176	78,030	62,991
Weighing Solutions
Segment Reporting Information [Line Items]
Net revenues	28,459	31,675	61,227	62,643
Measurement Systems
Segment Reporting Information [Line Items]
Net revenues	19,879	12,488	37,026	20,294
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	88,618	75,339	176,283	145,928
Gross profit	37,334	29,798	72,584	58,420
Operating Segments | Sensors
Segment Reporting Information [Line Items]
Net revenues	40,280	31,176	78,030	62,991
Gross profit	17,831	12,120	32,117	24,953
Operating income	13,060	7,477	22,018	15,146
Restructuring costs:	(904)	0	(1,107)	0
Operating Segments | Weighing Solutions
Segment Reporting Information [Line Items]
Net revenues	28,459	31,675	61,227	62,643
Gross profit	9,585	11,791	21,664	23,565
Operating income	4,177	6,097	10,391	11,914
Operating Segments | Measurement Systems
Segment Reporting Information [Line Items]
Net revenues	19,879	12,488	37,026	20,294
Gross profit	9,918	5,887	18,803	9,902
Operating income	3,263	1,714	5,474	2,388
Acquisition costs:	0	(1,198)	0	(1,198)
Impairment of goodwill and indefinite-lived intangibles:	0	(1,223)	0	(1,223)
Restructuring costs:	0	0	(58)	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(9,045)	(7,943)	(17,852)	(15,664)
Acquisition costs:	0	(1,198)	0	(1,198)
Impairment of goodwill and indefinite-lived intangibles:	0	(1,223)	0	(1,223)
Restructuring costs:	$ (904)	$ 0	$ (1,165)	$ 0

Segment Information - (Interseg

Segment Information - (Intersegment Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Segment Reporting Information [Line Items]
Total revenue	$ (88,618)	$ (75,339)	$ (176,283)	$ (145,928)
Sensors to Weighing Solutions | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	433	951	822	1,905
Sensors to Measurement Systems | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenue	$ 98	$ 7	$ 159	$ 15

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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Numerator:
Net Income (Loss) Attributable to Parent	$ 10,755	$ 3,920	$ 17,111	$ 8,881
Denominator:
Weighted average shares (in shares)	13,648	13,618	13,643	13,605
Effect of dilutive securities:
Restricted stock units (in shares)	44	28	41	33
Dilutive potential common shares	44	28	41	33
Denominator for diluted earnings per share:
Adjusted weighted average shares (in shares)	13,692	13,646	13,684	13,638
Basic earnings per share attributable to VPG stockholders (dollars per share)	$ 0.79	$ 0.29	$ 1.25	$ 0.65
Diluted earnings per share attributable to VPG stockholders (dollars per share)	$ 0.79	$ 0.29	$ 1.25	$ 0.65

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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign exchange gain (loss)	$ 3,380	$ (174)	$ 3,934	$ 561
Interest income	80	20	144	65
Pension expense	(104)	(143)	(180)	(280)
Other	(12)	(29)	(115)	(99)
Other nonoperating income (expense)	$ 3,344	$ (326)	$ 3,783	$ 247

Additional Financial Statemen_4

Additional Financial Statement Information - (Narrative) (Details) $ in Millions	6 Months Ended
	Jul. 02, 2022 USD ($) subsidiary
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Loss on liquidation | $	$ 0.2
Subsidiaries | subsidiary	2

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. 02, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 5,477	$ 6,158
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	97	49
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	5,380	6,109
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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 904	$ 0	$ 1,165	$ 0

Restructuring Costs - Restructu

Restructuring Costs - Restructuring Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 0
Restructuring costs	$ 904	$ 0	1,165	$ 0
Cash payments			(616)
Foreign currency translation			8
Restructuring reserve, ending balance	$ 557		$ 557

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) shares in Thousands	Aug. 08, 2022 shares
Subsequent Event
Subsequent Event [Line Items]
Number of shares authorized to be repurchased (in shares)	600