Vishay Precision (VPG) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 28, 2024	Nov. 05, 2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
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	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Common Stock, Shares Outstanding		12,215,668
Class B Convertible Common Stock
Entity Common Stock, Shares Outstanding		1,022,887

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 81,077	$ 83,965
Accounts receivable, net	52,821	56,438
Inventories:
Raw materials	34,027	33,973
Work in process	28,275	26,594
Finished goods	26,000	27,572
Inventories, net	88,302	88,139
Prepaid expenses and other current assets	20,137	14,520
Total current assets	242,337	243,062
Property and equipment:
Land	4,186	4,154
Buildings and improvements	73,759	72,952
Machinery and equipment	133,281	131,738
Software	10,198	9,619
Construction in progress	10,761	11,379
Accumulated depreciation	(145,391)	(139,206)
Property and equipment, net	86,794	90,636
Goodwill	45,610	45,734
Intangible assets, net	41,807	44,634
Operating lease right-of-use assets	25,239	26,953
Other assets	20,739	20,547
Total assets	462,526	471,566
Current liabilities:
Trade accounts payable	9,986	11,698
Payroll and related expenses	17,819	18,971
Other accrued expenses	21,989	22,427
Income taxes	1,150	4,524
Current portion of operating lease liabilities	4,053	4,004
Total current liabilities	54,997	61,624
Long-term debt	31,383	31,856
Deferred income taxes	3,645	3,490
Operating lease liabilities	20,645	22,625
Other liabilities	14,145	14,770
Accrued pension and other postretirement costs	7,054	7,276
Total liabilities	131,869	141,641
Equity:
Treasury stock	(25,335)	(17,460)
Capital in excess of par value	202,872	202,672
Retained earnings	191,209	182,066
Accumulated other comprehensive loss	(39,564)	(38,869)
Total Vishay Precision Group, Inc. stockholders' equity	330,621	329,842
Noncontrolling interests	36	83
Total equity	330,657	329,925
Total liabilities and equity	462,526	471,566
Common Stock
Equity:
Common stock	1,336	1,330
Class B Convertible Common Stock
Equity:
Common stock	$ 103	$ 103

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 75,727	$ 85,854	$ 233,869	$ 265,520
Costs of products sold	45,467	49,919	136,108	153,674
Gross profit	30,260	35,935	97,761	111,846
Selling, general and administrative expenses	26,337	26,558	80,232	80,472
Restructuring costs	82	1,153	864	1,431
Operating income	3,841	8,224	16,665	29,943
Other (expense) income :
Interest expense	(648)	(1,119)	(1,925)	(3,195)
Other	(2,646)	1,671	915	2,965
Other (expense) income	(3,294)	552	(1,010)	(230)
Income before taxes	546	8,776	15,654	29,713
Income tax expense	1,874	2,419	6,508	8,023
Net (loss) earnings	(1,328)	6,357	9,146	21,690
Less: net earnings attributable to noncontrolling interests	23	77	3	210
Net (loss) earnings attributable to VPG stockholders	$ (1,351)	$ 6,280	$ 9,143	$ 21,480
Basic (loss) earnings per share attributable to VPG stockholders (dollars per share)	$ (0.10)	$ 0.46	$ 0.68	$ 1.58
Diluted (loss) earnings per share attributable to VPG stockholders (dollars per share)	$ (0.10)	$ 0.46	$ 0.68	$ 1.57
Weighted average shares outstanding - basic (in shares)	13,254	13,600	13,367	13,596
Weighted average shares outstanding - diluted (in shares)	13,254	13,686	13,405	13,670

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (1,328)	$ 6,357	$ 9,146	$ 21,690
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	6,809	(3,653)	(679)	(3,831)
Pension and other postretirement actuarial items	(8)	0	(16)	2
Other comprehensive income (loss)	6,801	(3,653)	(695)	(3,829)
Comprehensive income	5,473	2,704	8,451	17,861
Less: comprehensive income attributable to noncontrolling interests	23	77	3	210
Comprehensive income attributable to VPG stockholders	$ 5,450	$ 2,627	$ 8,448	$ 17,651

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Operating activities
Net earnings	$ 9,146	$ 21,690
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	11,771	11,559
Loss (gain) on sale of property and equipment	(154)	38
Share-based compensation expense	1,060	1,885
Inventory write-offs for obsolescence	1,722	1,567
Deferred income taxes	512	691
Foreign currency impacts and other items	(1,213)	(2,755)
Net changes in operating assets and liabilities:
Accounts receivable	3,340	1,604
Inventories	(1,816)	(7,811)
Prepaid expenses and other current assets	(5,576)	1,990
Trade accounts payable	(743)	(1,151)
Other current liabilities	(3,921)	(1,082)
Other non current assets and liabilities, net	(767)	(170)
Accrued pension and other postretirement costs, net	(322)	(945)
Net cash provided by operating activities	13,039	27,110
Investing activities
Capital expenditures	(6,965)	(9,848)
Proceeds from sale of property and equipment	647	50
Purchase of short term investment	0	(1,000)
Net cash used in investing activities	(6,318)	(10,798)
Financing activities
Payments on revolving facility	0	(7,000)
Debt issuance costs	(569)	0
Purchase of treasury stock	(7,815)	(1,196)
Distributions to noncontrolling interests	(50)	(138)
Payments of employee taxes on certain share-based arrangements	(860)	(825)
Net cash used in financing activities	(9,294)	(9,159)
Effect of exchange rate changes on cash and cash equivalents	(315)	(1,083)
(Decrease) Increase in cash and cash equivalents	(2,888)	6,070
Cash and cash equivalents at beginning of period	83,965	88,562
Cash and cash equivalents at end of period	81,077	94,632
Supplemental disclosure of investing transactions:
Capital expenditures accrued but not yet paid	1,354	1,204
Supplemental disclosure of financing transactions:
Excise tax on net share repurchases accrued but not yet paid	$ 60	$ 0

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, 2022	$ 306,522	$ 306,547	$ 1,325	$ 103	$ (11,504)	$ 201,164	$ 156,359	$ (40,900)	$ (25)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	21,690	21,480					21,480		210
Other comprehensive income (loss)	(3,829)	(3,829)						(3,829)
Share-based compensation expense	1,885	1,885				1,885
Restricted stock issuances	(777)	(777)	5			(782)
Purchase of treasury stock	(1,196)	(1,196)			(1,196)
Distributions to noncontrolling interests	(138)								(138)
Balance, ending at Sep. 30, 2023	324,157	324,110	1,330	103	(12,700)	202,267	177,839	(44,729)	47
Balance, beginning at Jul. 01, 2023	321,665	321,603	1,330	103	(11,924)	201,611	171,559	(41,076)	62
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	6,357	6,280					6,280		77
Other comprehensive income (loss)	(3,653)	(3,653)						(3,653)
Share-based compensation expense	656	656				656
Purchase of treasury stock	(776)	(776)			(776)
Distributions to noncontrolling interests	(92)								(92)
Balance, ending at Sep. 30, 2023	324,157	324,110	1,330	103	(12,700)	202,267	177,839	(44,729)	47
Balance, beginning at Dec. 31, 2023	329,925	329,842	1,330	103	(17,460)	202,672	182,066	(38,869)	83
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	9,146	9,143					9,143		3
Other comprehensive income (loss)	(695)	(695)						(695)
Share-based compensation expense	1,060	1,060				1,060
Restricted stock issuances	(854)	(854)	6			(860)
Purchase of treasury stock	(7,815)	(7,815)			(7,815)
Excise tax on net share repurchase	(60)	(60)			(60)
Distributions to noncontrolling interests	(50)								(50)
Balance, ending at Sep. 28, 2024	330,657	330,621	1,336	103	(25,335)	202,872	191,209	(39,564)	36
Balance, beginning at Jun. 29, 2024	327,034	327,011	1,336	103	(23,388)	202,765	192,560	(46,365)	23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(1,328)	(1,351)					(1,351)		23
Other comprehensive income (loss)	6,801	6,801						6,801
Share-based compensation expense	107	107				107
Purchase of treasury stock	(1,928)	(1,928)			(1,928)
Excise tax on net share repurchase	(19)	(19)			(19)
Distributions to noncontrolling interests	(10)								(10)
Balance, ending at Sep. 28, 2024	$ 330,657	$ 330,621	$ 1,336	$ 103	$ (25,335)	$ 202,872	$ 191,209	$ (39,564)	$ 36

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Equity (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Common Stock
Restricted stock issuance (in shares)			55,219	47,189
Treasury Stock
Purchase of treasury stock (in shares)	63,227	22,894	244,702	35,206

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 28, 2024
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 leader in precision measurement and sensing technologies that help power the future by bridging the physical world with the digital one. Many of our specialized sensors, weighing solutions, and measurement systems are “designed-in” by our customers, and address growing applications across a diverse array of industries and markets. Our products are marketed under 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 consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023, included in VPG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 29, 2024. The results of operations for the fiscal quarter ended September 28, 2024 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 2024 and 2023 end on the following dates: 2024 2023 Quarter 1 March 30, April 1, Quarter 2 June 29, July 1, Quarter 3 September 28, September 30, Quarter 4 December 31, December 31, Recent Accounting Pronouncements The Company evaluates the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). Recent accounting pronouncements not yet adopted: In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU also allows, in addition to the measure that is most consistent with U.S. GAAP, the disclosure of additional measures of segment profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.

Revenues

Revenues	9 Months Ended
	Sep. 28, 2024
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 $ 10,068 $ 11,154 $ 14,751 $ 35,973 $ 11,860 $ 12,622 $ 15,520 $ 40,002 Germany 6,193 1,913 181 8,287 6,731 2,198 674 9,603 Other Europe 1,282 9,104 197 10,583 1,564 11,006 120 12,690 Israel 5,179 102 — 5,281 4,773 89 — 4,862 Asia 5,479 2,901 1,778 10,158 7,604 3,054 2,899 13,557 Canada — — 5,445 5,445 — — 5,140 5,140 Total $ 28,201 $ 25,174 $ 22,352 $ 75,727 $ 32,532 $ 28,969 $ 24,353 $ 85,854 Nine Fiscal Months Ended September 28, 2024 Nine Fiscal Months Ended September 30, 2023 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 29,931 $ 33,491 $ 39,204 $ 102,626 $ 39,089 $ 40,729 $ 39,053 $ 118,871 Germany 20,850 6,901 3,081 30,832 23,693 7,668 4,945 36,306 Other Europe 4,086 31,588 458 36,132 4,286 33,437 425 38,148 Israel 15,238 267 — 15,505 12,867 215 — 13,082 Asia 16,378 9,119 6,873 32,370 25,589 10,041 6,446 42,076 Canada — 101 16,303 16,404 — — 17,037 17,037 Total $ 86,483 $ 81,467 $ 65,919 $ 233,869 $ 105,524 $ 92,090 $ 67,906 $ 265,520 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Test & Measurement $ 14,337 $ 17,080 $ 43,955 $ 54,449 Avionics, Military & Space 8,581 8,294 21,769 28,285 Transportation 12,802 15,490 38,985 40,993 Other Markets 14,826 16,402 48,750 54,124 Industrial Weighing 8,578 10,533 28,021 33,586 General Industrial 4,538 4,643 14,702 14,858 Steel 12,065 13,412 37,687 39,225 Total $ 75,727 $ 85,854 $ 233,869 $ 265,520 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, 2023 $ 2,989 $ 8,712 Balance at September 28, 2024 5,005 8,272 Increase (decrease) $ 2,016 $ (440) The amount of revenue recognized during the nine fiscal months ended September 28, 2024 that was included in the contract liability balance at December 31, 2023 was $7.2 million.

Goodwill

Goodwill	9 Months Ended
	Sep. 28, 2024
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, 2023 $ 45,734 $ 6,488 $ 16,902 $ 16,033 $ 6,311 Foreign currency translation adjustment $ (124) $ (126) $ 2 $ — $ — Balance at September 28, 2024 $ 45,610 $ 6,362 $ 16,904 $ 16,033 $ 6,311

Leases

Leases	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Leases	Leases The Company primarily leases office and manufacturing facilities in addition to vehicles, which have remaining terms ranging from less than one year to twelve years, four months The Company has no finance leases. Leases recorded on the balance sheet consist of the following (in thousands) : Leases September 28, 2024 December 31, 2023 Assets Operating lease right of use asset $ 25,239 $ 26,953 Liabilities Operating lease - current $ 4,053 $ 4,004 Operating lease - non-current $ 20,645 $ 22,625 Other information related to lease term and discount rate is as follows: September 28, 2024 Operating leases weighted average remaining lease term (in years) 7.23 years Operating leases weighted average discount rate 5.03 % The components of lease expense are as follows (in thousands) : Fiscal quarter ended Nine Fiscal Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Operating lease cost $ 1,319 $ 1,331 $ 4,024 $ 3,822 Short-term lease cost 6 24 31 115 Sublease income (111) (95) (334) (293) Total net lease cost $ 1,214 $ 1,260 $ 3,721 $ 3,644 Right of use assets obtained in exchange for new operating lease liability during the nine fiscal months ended September 28, 2024 were $1.5 million. The Company paid $3.9 million and $3.8 million for its operating leases for each of the nine fiscal months ended September 28, 2024 and September 30, 2023, which are included in operating cash flows on the consolidated condensed statements of cash flows. Undiscounted maturities of operating lease payments as of September 28, 2024 are summarized as follows (in thousands) : 2024 (excluding the nine months ended September 28, 2024) $ 1,302 2025 4,787 2026 4,099 2027 3,698 2028 3,465 Thereafter 11,953 Total future minimum lease payments $ 29,304 Less: amount representing interest (4,606) Present value of future minimum lease payments $ 24,698

Income Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2024
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 was 343.2% and 27.6% for the fiscal quarter ended September 28, 2024, and September 30, 2023, respectively. The effective tax rate for the fiscal quarter ended September 28, 2024 differs from the federal statutory rate of 21% due to foreign income taxed at different tax rates and changes in our valuation allowance on deferred tax assets. The effective tax rate for the fiscal quarter ended September 30, 2023 differs from the federal statutory rate of 21% due to foreign income taxed at different tax rates and changes in our valuation allowance on deferred tax assets. 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	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands) : September 28, 2024 December 31, 2023 Credit Agreement - Revolving Facility $ 32,000 $ 32,000 Deferred financing costs (617) (144) Total long-term debt $ 31,383 $ 31,856 Credit Agreement On March 20, 2020, the Company entered into a Third Amended and Restated Credit Agreement (the “2020 Credit Agreement”) among the Company, the lenders named therein, Citizens Bank, National Association and Wells Fargo Bank, National Association as joint lead arrangers and JPMorgan Chase Bank, National Association as agent for such lenders (the “Agent”), pursuant to which the terms of the Company’s multi-currency, secured credit facility were revised to provide a secured revolving facility (the “2020 Revolving Facility”) in an aggregate principal amount of $75.0 million, with a sublimit of $10.0 million which can be used for letters of credit for the account of the Company or its subsidiaries that are parties to the Credit Agreement. The proceeds of the 2020 Revolving Facility may be used on an ongoing basis for working capital and general corporate purposes. The aggregate principal amount of the 2020 Revolving Facility may be increased by a maximum of $25.0 million upon the request of the Company, subject to the terms of the 2020 Credit Agreement. The 2020 Credit Agreement terminates on March 20, 2025. Because the Credit Agreement expires less than one year from the end of the first fiscal quarter of 2024, the outstanding balance of long-term debt has been reclassified as a current liability. On May 5, 2023, the Company entered into Amendment No. 1 to Third Amended and Restated Credit Agreement (the “Credit Agreement Amendment”) amending the Third Amended and Restated Credit Agreement, dated March 20, 2020. The primary purpose of the changes made in the Credit Agreement Amendment was to update the interest rate provisions to replace LIBOR with SOFR for U.S. dollar denominated loans as well as update the other applicable reference borrowing rates for foreign currency loans which took effect on June 15, 2023. Interest payable on amounts borrowed under the 2020 Revolving Facility, taking into account the effect of the Credit Agreement Amendment, is based upon the following: (a) for revolving credit loans denominated in US Dollars, the SOFR rate plus applicable credit spread; and (b) for revolving credit loans denominated in foreign currencies, at other applicable local reference rates plus an interest margin. Depending upon the Company’s leverage ratio, an interest rate margin ranging from 1.50% to 2.75% per annum is added to the applicable SOFR rate to determine the interest payable on the SOFR loans. The Company is required to pay a quarterly fee of 0.25% per annum to 0.40% per annum on the unused portion of the 2020 Revolving Facility, which is determined based on the Company’s leverage ratio each quarter. Additional customary fees apply with respect to letters of credit. On August 15, 2024, the Company entered into a Fourth Amended and Restated Credit Agreement (the “2024 Credit Agreement”) among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A. and HSBC as joint lead arrangers and joint bookrunner, and JPMorgan Chase Bank, N.A, as agent for such lenders, pursuant to which the 2020 Credit Agreement, was amended and restated to, among other things, extend the maturity date from March 20, 2025 to August 15, 2029 and adjust the interest rate and commitment fee. The 2024 Credit Agreement provides for a multi-currency, secured credit facility (the “2024 Revolving Facility”) in an aggregate principal amount of $75.0 million, with a sublimit of $10.0 million which can be used for letters of credit for the account of the Company or its subsidiaries that are parties to the 2024 Credit Agreement, the proceeds of which may be used for working capital and general corporate purposes, and a portion of which were used to refinance the 2020 Revolving Facility. The Company may elect to make loans under the 2024 Revolving Facility in US Dollars, Euros, Canadian Dollars, Sterling, Japanese Yen or such other freely convertible foreign currency. Amounts borrowed under the 2024 Revolving Facility accrue interest in an amount equal to a floating rate plus a specified margin. Such floating rates are (i) for loans denominated in US Dollars, at the Company’s option, either (a) the greatest of: the Agent’s prime rate, the Federal Funds rate, or a 1.00% floor (the “US Base Rate”), or (b) the SOFR, (ii) for loans denominated in Canadian Dollars, at the Company’s option, either (x) the greatest of: the PRIMCAN Index rate, the average 30 day rate for loans accruing interest based on the Canadian Overnight Repo Rate Average (“CORRA”) (the “Canadian Base Rate”), or (y) CORRA, (iii) for loans denominated in Pounds Sterling, the Sterling Overnight Index Average (“SONIA”), (iv) for loans denominated in Euros, the Euro Interbank Offered Rate (“EURIBOR"), and (v) for loans denominated in Japanese Yen, the Tokyo Interbank Offered Rate (“TIBOR”). The specified interest margin for US Base Rate Loans and Canadian Base Rate Loans is 0.25%. Depending upon the Company’s leverage ratio, the interest rate margin for loans based on SOFR, CORRA, SONIA, EURIBOR and TIBOR ranges from 1.75% to 3.00% per annum. The Company is required to pay a quarterly fee of 0.20% per annum to 0.40% per annum on the unused portion of the 2024 Revolving Facility, which is also determined based on the Company’s leverage ratio. Additional customary fees apply with respect to letters of credit.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 28, 2024
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, 2024 $ (39,262) $ 393 $ (38,869) Other comprehensive loss before reclassifications (679) — (679) Amounts reclassified from accumulated other comprehensive loss — (16) (16) Balance at September 28, 2024 $ (39,941) $ 377 $ (39,564) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2023 $ (41,489) $ 589 $ (40,900) Other comprehensive loss before reclassifications (3,831) — (3,831) Amounts reclassified from accumulated other comprehensive income — 2 2 Balance at September 30, 2023 $ (45,320) $ 591 $ (44,729)

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Sep. 28, 2024
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 $ 66 $ 4 $ 67 $ 4 Interest cost 191 27 193 28 Expected return on plan assets (211) — (216) — Amortization of actuarial losses (gains) 4 (3) 7 (6) Net periodic benefit cost $ 50 $ 28 $ 51 $ 26 Nine Fiscal Months Ended Nine Fiscal Months Ended Pension OPEB Pension OPEB Net service cost $ 199 $ 12 $ 204 $ 12 Interest cost $ 572 $ 81 $ 575 $ 84 Expected return on plan assets $ (630) $ — $ (642) $ — Amortization of actuarial losses (gains) $ 13 $ (9) $ 22 $ (18) Net periodic benefit cost $ 154 $ 84 $ 159 $ 78

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Vishay Precision Group, Inc. 2022 Stock Incentive Plan (the "2022 plan") permits issuance of up to 608,000 shares of common stock. At September 28, 2024, the Company had reserved 442,558 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 7, 2024 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 49,190 RSUs. Fifty percent of these awards will vest on January 1, 2027, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2027, 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 7, 2024, 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 16,821 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, 2027, subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2027, 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 22, 2024, and in accordance with the Company's 2024 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 14,826 RSUs to the independent board members of the Board of Directors. The awards have an aggregate grant-date fair value of $0.5 million and will vest on or before the 2025 Annual Stockholders Meeting in May 2025, subject to each applicable director's continued service on the Board of Directors. Vesting of equity awards is subject to acceleration under certain circumstances. On August 14, 2024, and in accordance with the Company's 2024 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 1,835 RSUs to an independent board member of the Board of Directors in connection with his appointment to the Board of Directors. The award had an aggregate grant-date fair value of $0.06 million and will vest on or before the 2025 Annual Stockholders Meeting in May 2025, subject to such independent director's continued service on the Board of Directors. Vesting of such 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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Share-based compensation expense $ 107 $ 656 $ 1,060 $ 1,885

Segment Information

Segment Information	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information VPG reports in three reporting segments: Sensors, Weighing Solutions, and Measurement Systems. The Sensors 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 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 (in thousands) : Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net revenues: Sensors $ 28,201 $ 32,532 $ 86,484 $ 105,524 Weighing Solutions 25,174 28,970 81,466 92,090 Measurement Systems 22,352 24,352 65,919 67,906 Total $ 75,727 $ 85,854 $ 233,869 $ 265,520 Gross profit: Sensors $ 8,730 $ 11,681 $ 30,528 $ 41,374 Weighing Solutions 8,840 11,207 30,416 34,443 Measurement Systems 12,690 13,047 36,815 36,029 Total $ 30,260 $ 35,935 $ 97,759 $ 111,846 Reconciliation of segment operating income to consolidated results: Sensors $ 3,640 $ 6,543 $ 15,262 $ 26,043 Weighing Solutions 2,845 5,393 11,781 16,894 Measurement Systems 5,130 5,605 15,070 14,246 Unallocated G&A expenses (7,692) (8,164) (24,584) (25,809) Restructuring costs (82) (1,153) (864) (1,431) Operating income $ 3,841 $ 8,224 $ 16,665 $ 29,943 Restructuring costs: Sensors $ (59) $ — $ (601) $ — Weighing Solutions (23) (1,153) (23) (1,349) Measurement Systems — — — (32) Corporate/Other — — (240) (50) $ (82) $ (1,153) $ (864) $ (1,431) 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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Sensors to Weighing Solutions $ 332 $ 417 $ 1,323 $ 1,178 Sensors to Measurement Systems 4 4 17 52

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share) : Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Numerator: Numerator for basic earnings per share: Net (loss) earnings attributable to VPG stockholders $ (1,351) $ 6,280 $ 9,143 $ 21,480 Denominator: Denominator for basic earnings per share: Weighted average shares 13,254 13,600 13,367 13,596 Effect of dilutive securities: Restricted stock units — 86 38 74 Dilutive potential common shares — 86 38 74 Denominator for diluted earnings per share: Adjusted weighted average shares 13,254 13,686 13,405 13,670 Basic (loss) earnings per share attributable to VPG stockholders $ (0.10) $ 0.46 $ 0.68 $ 1.58 Diluted (loss) earnings per share attributable to VPG stockholders $ (0.10) $ 0.46 $ 0.68 $ 1.57

Additional Financial Statement

Additional Financial Statement Information	9 Months Ended
	Sep. 28, 2024
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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Foreign currency exchange gain (loss) $ (2,912) $ 1,283 $ (36) $ 2,138 Interest income 370 543 1,192 1,265 Pension expense (8) (72) (28) (217) Other (96) (83) (213) (221) $ (2,646) $ 1,671 $ 915 $ 2,965 Foreign currency exchange gains (loss) represent the impact of changes in foreign currency exchange rates. For the fiscal quarter and nine fiscal months ended September 28, 2024, the change in foreign currency exchange gains and losses during the periods, as compared to the prior year periods, is largely due to exposure to currency fluctuations with the Japanese yen, Israeli shekel and the Canadian dollar. For the fiscal quarter and nine fiscal months ended September 30, 2023, the change in foreign currency exchange gains and losses during the periods, as compared to the prior year periods, is largely due to exposure to currency fluctuations with the Israeli shekel, the Canadian dollar, the EURO and the British pound. Other Accrued Expenses Other accrued expenses consist of the following (in thousands) : September 28, 2024 December 31, 2023 Customer advance payments $ 8,272 $ 8,712 Accrued restructuring 169 249 Goods received, not yet invoiced 1,638 2,837 Accrued taxes, other than income taxes 1,901 1,370 Accrued commissions 4,095 4,077 Accrued professional fees 2,016 1,343 Accrued technical warranty 778 770 Current accrued pensions and other post retirement costs 511 511 Other 2,609 2,558 $ 21,989 $ 22,427

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 28, 2024
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 September 28, 2024 Assets Assets held in rabbi trusts $ 6,281 $ 71 $ 6,210 $ — December 31, 2023 Assets Assets held in rabbi trusts $ 5,841 $ 59 $ 5,782 $ — The Company maintains non-qualified trusts, referred to as “rabbi” trusts, to fund payments under deferred compensation and non-qualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale money market funds at September 28, 2024 and December 31, 2023, 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 September 28, 2024 and December 31, 2023 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	9 Months Ended
	Sep. 28, 2024
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 either to record additional expense in future periods or to reverse part of the previously recorded charges. The Company recorded $0.1 million and $1.2 million of restructuring costs during the fiscal quarter ended September 28, 2024 and September 30, 2023, respectively and $0.9 million and $1.4 million of restructuring costs during the nine fiscal months ended September 28, 2024 and September 30, 2023, 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 September 28, 2024 and December 31, 2023, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2023 $ 249 Restructuring charges in 2024 864 Cash payments (794) Foreign currency exchange translation (150) Balance at September 28, 2024 $ 169

Stockholder's Equity

Stockholder's Equity	9 Months Ended
	Sep. 28, 2024
Equity [Abstract]
Stockholder's Equity	Stockholder's Equity On August 8, 2022, the Board of Directors (the “Board”) of the Company authorized the repurchase of up to 600,000 shares of the Company’s outstanding common stock (the “Stock Repurchase Plan”). The Stock Repurchase Plan was originally set to expire on August 11, 2023. On August 8, 2023, the Company announced that its Board of Directors extended the term of the previously approved stock repurchase plan to August 9, 2024. The stock repurchase plan expired in accordance with its terms on August 9, 2024. From August 8, 2022 to August 9, 2024, the Company had repurchased an aggregate of 518,328 shares of its common stock under the stock repurchase plan for consideration of $16.5 million.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies During the second quarter of 2024, the Israel Tax Authority has issued a Value Added Tax (VAT) assessment to the Company, in the amount of ILS 8.4 million (approximately $2.2 million), pertaining to claims of VAT between the years 2019 to 2023. The Company believes that the liability for the assessment is not probable and intends to file an appeal against this assessment. Given the early stage of this matter, the Company is currently unable to predict the likely outcome or estimate the potential financial impact, if any, of this matter.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 28, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On September 30, 2024, the Company acquired Nokra Optische Prueftechnik und Automation GmbH, a Germany-based, privately held maker of precision measuring and testing equipment for manufacturing, for a total consideration of Euro 3.95 million. Nokra’s laser-based measuring systems expand our existing measurement and inspection solutions for steel and aluminum rolling mills, as well as for the metal processing industry. Nokra’s laser-based measurement gauge systems are used to precisely measure the thickness, flatness, contour, width or 3D profile of various metals depending on the application, in both inline and offline production.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net (loss) earnings attributable to VPG stockholders	$ (1,351)	$ 6,280	$ 9,143	$ 21,480

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 28, 2024
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 2024 and 2023 end on the following dates: 2024 2023 Quarter 1 March 30, April 1, Quarter 2 June 29, July 1, Quarter 3 September 28, September 30, Quarter 4 December 31, December 31,
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company evaluates the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). Recent accounting pronouncements not yet adopted: In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU also allows, in addition to the measure that is most consistent with U.S. GAAP, the disclosure of additional measures of segment profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 28, 2024
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 2024 and 2023 end on the following dates: 2024 2023 Quarter 1 March 30, April 1, Quarter 2 June 29, July 1, Quarter 3 September 28, September 30, Quarter 4 December 31, December 31,

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Schedule of 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 $ 10,068 $ 11,154 $ 14,751 $ 35,973 $ 11,860 $ 12,622 $ 15,520 $ 40,002 Germany 6,193 1,913 181 8,287 6,731 2,198 674 9,603 Other Europe 1,282 9,104 197 10,583 1,564 11,006 120 12,690 Israel 5,179 102 — 5,281 4,773 89 — 4,862 Asia 5,479 2,901 1,778 10,158 7,604 3,054 2,899 13,557 Canada — — 5,445 5,445 — — 5,140 5,140 Total $ 28,201 $ 25,174 $ 22,352 $ 75,727 $ 32,532 $ 28,969 $ 24,353 $ 85,854 Nine Fiscal Months Ended September 28, 2024 Nine Fiscal Months Ended September 30, 2023 Sensors Weighing Solutions Measurement Systems Total Sensors Weighing Solutions Measurement Systems Total United States $ 29,931 $ 33,491 $ 39,204 $ 102,626 $ 39,089 $ 40,729 $ 39,053 $ 118,871 Germany 20,850 6,901 3,081 30,832 23,693 7,668 4,945 36,306 Other Europe 4,086 31,588 458 36,132 4,286 33,437 425 38,148 Israel 15,238 267 — 15,505 12,867 215 — 13,082 Asia 16,378 9,119 6,873 32,370 25,589 10,041 6,446 42,076 Canada — 101 16,303 16,404 — — 17,037 17,037 Total $ 86,483 $ 81,467 $ 65,919 $ 233,869 $ 105,524 $ 92,090 $ 67,906 $ 265,520 The following table disaggregates net revenue from contracts with customers by market sector (in thousands) . Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Test & Measurement $ 14,337 $ 17,080 $ 43,955 $ 54,449 Avionics, Military & Space 8,581 8,294 21,769 28,285 Transportation 12,802 15,490 38,985 40,993 Other Markets 14,826 16,402 48,750 54,124 Industrial Weighing 8,578 10,533 28,021 33,586 General Industrial 4,538 4,643 14,702 14,858 Steel 12,065 13,412 37,687 39,225 Total $ 75,727 $ 85,854 $ 233,869 $ 265,520
Schedule of 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, 2023 $ 2,989 $ 8,712 Balance at September 28, 2024 5,005 8,272 Increase (decrease) $ 2,016 $ (440)

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 28, 2024
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, 2023 $ 45,734 $ 6,488 $ 16,902 $ 16,033 $ 6,311 Foreign currency translation adjustment $ (124) $ (126) $ 2 $ — $ — Balance at September 28, 2024 $ 45,610 $ 6,362 $ 16,904 $ 16,033 $ 6,311

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Schedule of Leases Recorded on the Balance Sheet	Leases recorded on the balance sheet consist of the following (in thousands) : Leases September 28, 2024 December 31, 2023 Assets Operating lease right of use asset $ 25,239 $ 26,953 Liabilities Operating lease - current $ 4,053 $ 4,004 Operating lease - non-current $ 20,645 $ 22,625
Schedule of Other Information Related to Lease Term and Discount Rate	Other information related to lease term and discount rate is as follows: September 28, 2024 Operating leases weighted average remaining lease term (in years) 7.23 years Operating leases weighted average discount rate 5.03 %
Schedule of Components of Lease Expense	The components of lease expense are as follows (in thousands) : Fiscal quarter ended Nine Fiscal Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Operating lease cost $ 1,319 $ 1,331 $ 4,024 $ 3,822 Short-term lease cost 6 24 31 115 Sublease income (111) (95) (334) (293) Total net lease cost $ 1,214 $ 1,260 $ 3,721 $ 3,644
Schedule of Maturities of Operating Lease Liabilities	Undiscounted maturities of operating lease payments as of September 28, 2024 are summarized as follows (in thousands) : 2024 (excluding the nine months ended September 28, 2024) $ 1,302 2025 4,787 2026 4,099 2027 3,698 2028 3,465 Thereafter 11,953 Total future minimum lease payments $ 29,304 Less: amount representing interest (4,606) Present value of future minimum lease payments $ 24,698

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands) : September 28, 2024 December 31, 2023 Credit Agreement - Revolving Facility $ 32,000 $ 32,000 Deferred financing costs (617) (144) Total long-term debt $ 31,383 $ 31,856

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 28, 2024
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, 2024 $ (39,262) $ 393 $ (38,869) Other comprehensive loss before reclassifications (679) — (679) Amounts reclassified from accumulated other comprehensive loss — (16) (16) Balance at September 28, 2024 $ (39,941) $ 377 $ (39,564) Foreign Currency Translation Adjustment Pension Total Balance at January 1, 2023 $ (41,489) $ 589 $ (40,900) Other comprehensive loss before reclassifications (3,831) — (3,831) Amounts reclassified from accumulated other comprehensive income — 2 2 Balance at September 30, 2023 $ (45,320) $ 591 $ (44,729)

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 28, 2024
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 $ 66 $ 4 $ 67 $ 4 Interest cost 191 27 193 28 Expected return on plan assets (211) — (216) — Amortization of actuarial losses (gains) 4 (3) 7 (6) Net periodic benefit cost $ 50 $ 28 $ 51 $ 26 Nine Fiscal Months Ended Nine Fiscal Months Ended Pension OPEB Pension OPEB Net service cost $ 199 $ 12 $ 204 $ 12 Interest cost $ 572 $ 81 $ 575 $ 84 Expected return on plan assets $ (630) $ — $ (642) $ — Amortization of actuarial losses (gains) $ 13 $ (9) $ 22 $ (18) Net periodic benefit cost $ 154 $ 84 $ 159 $ 78

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 28, 2024
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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Share-based compensation expense $ 107 $ 656 $ 1,060 $ 1,885

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table sets forth reporting segment information (in thousands) : Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net revenues: Sensors $ 28,201 $ 32,532 $ 86,484 $ 105,524 Weighing Solutions 25,174 28,970 81,466 92,090 Measurement Systems 22,352 24,352 65,919 67,906 Total $ 75,727 $ 85,854 $ 233,869 $ 265,520 Gross profit: Sensors $ 8,730 $ 11,681 $ 30,528 $ 41,374 Weighing Solutions 8,840 11,207 30,416 34,443 Measurement Systems 12,690 13,047 36,815 36,029 Total $ 30,260 $ 35,935 $ 97,759 $ 111,846 Reconciliation of segment operating income to consolidated results: Sensors $ 3,640 $ 6,543 $ 15,262 $ 26,043 Weighing Solutions 2,845 5,393 11,781 16,894 Measurement Systems 5,130 5,605 15,070 14,246 Unallocated G&A expenses (7,692) (8,164) (24,584) (25,809) Restructuring costs (82) (1,153) (864) (1,431) Operating income $ 3,841 $ 8,224 $ 16,665 $ 29,943 Restructuring costs: Sensors $ (59) $ — $ (601) $ — Weighing Solutions (23) (1,153) (23) (1,349) Measurement Systems — — — (32) Corporate/Other — — (240) (50) $ (82) $ (1,153) $ (864) $ (1,431) 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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Sensors to Weighing Solutions $ 332 $ 417 $ 1,323 $ 1,178 Sensors to Measurement Systems 4 4 17 52

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share) : Fiscal quarter ended Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Numerator: Numerator for basic earnings per share: Net (loss) earnings attributable to VPG stockholders $ (1,351) $ 6,280 $ 9,143 $ 21,480 Denominator: Denominator for basic earnings per share: Weighted average shares 13,254 13,600 13,367 13,596 Effect of dilutive securities: Restricted stock units — 86 38 74 Dilutive potential common shares — 86 38 74 Denominator for diluted earnings per share: Adjusted weighted average shares 13,254 13,686 13,405 13,670 Basic (loss) earnings per share attributable to VPG stockholders $ (0.10) $ 0.46 $ 0.68 $ 1.58 Diluted (loss) earnings per share attributable to VPG stockholders $ (0.10) $ 0.46 $ 0.68 $ 1.57

Additional Financial Statemen_2

Additional Financial Statement Information (Tables)	9 Months Ended
	Sep. 28, 2024
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 Nine fiscal months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Foreign currency exchange gain (loss) $ (2,912) $ 1,283 $ (36) $ 2,138 Interest income 370 543 1,192 1,265 Pension expense (8) (72) (28) (217) Other (96) (83) (213) (221) $ (2,646) $ 1,671 $ 915 $ 2,965
Schedule of Other Accrued Expenses	Other accrued expenses consist of the following (in thousands) : September 28, 2024 December 31, 2023 Customer advance payments $ 8,272 $ 8,712 Accrued restructuring 169 249 Goods received, not yet invoiced 1,638 2,837 Accrued taxes, other than income taxes 1,901 1,370 Accrued commissions 4,095 4,077 Accrued professional fees 2,016 1,343 Accrued technical warranty 778 770 Current accrued pensions and other post retirement costs 511 511 Other 2,609 2,558 $ 21,989 $ 22,427

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 28, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities at Fair Value, Recurring	The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis (in thousands) : Fair value measurements at reporting date using: Total Level 1 Level 2 Level 3 September 28, 2024 Assets Assets held in rabbi trusts $ 6,281 $ 71 $ 6,210 $ — December 31, 2023 Assets Assets held in rabbi trusts $ 5,841 $ 59 $ 5,782 $ —

Restructuring Costs (Tables)

Restructuring Costs (Tables)	9 Months Ended
	Sep. 28, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes recent activity related to all restructuring programs. The accrued restructuring liability balance as of September 28, 2024 and December 31, 2023, respectively, is included in Other accrued expenses in the accompanying consolidated condensed balance sheets (in thousands) : Balance at December 31, 2023 $ 249 Restructuring charges in 2024 864 Cash payments (794) Foreign currency exchange translation (150) Balance at September 28, 2024 $ 169

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 75,727	$ 85,854	$ 233,869	$ 265,520
Sensors
Disaggregation of Revenue [Line Items]
Total revenue	28,201	32,532	86,483	105,524
Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	25,174	28,969	81,467	92,090
Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	22,352	24,353	65,919	67,906
United States
Disaggregation of Revenue [Line Items]
Total revenue	35,973	40,002	102,626	118,871
United States | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	10,068	11,860	29,931	39,089
United States | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	11,154	12,622	33,491	40,729
United States | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	14,751	15,520	39,204	39,053
Germany
Disaggregation of Revenue [Line Items]
Total revenue	8,287	9,603	30,832	36,306
Germany | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	6,193	6,731	20,850	23,693
Germany | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	1,913	2,198	6,901	7,668
Germany | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	181	674	3,081	4,945
Other Europe
Disaggregation of Revenue [Line Items]
Total revenue	10,583	12,690	36,132	38,148
Other Europe | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	1,282	1,564	4,086	4,286
Other Europe | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	9,104	11,006	31,588	33,437
Other Europe | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	197	120	458	425
Israel
Disaggregation of Revenue [Line Items]
Total revenue	5,281	4,862	15,505	13,082
Israel | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	5,179	4,773	15,238	12,867
Israel | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	102	89	267	215
Israel | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Asia
Disaggregation of Revenue [Line Items]
Total revenue	10,158	13,557	32,370	42,076
Asia | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	5,479	7,604	16,378	25,589
Asia | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	2,901	3,054	9,119	10,041
Asia | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	1,778	2,899	6,873	6,446
Canada
Disaggregation of Revenue [Line Items]
Total revenue	5,445	5,140	16,404	17,037
Canada | Sensors
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Canada | Weighing Solutions
Disaggregation of Revenue [Line Items]
Total revenue	0	0	101	0
Canada | Measurement Systems
Disaggregation of Revenue [Line Items]
Total revenue	$ 5,445	$ 5,140	$ 16,303	$ 17,037

Revenues - Schedule of Disagg_2

Revenues - Schedule of Disaggregation of Revenue by Market Sector (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 75,727	$ 85,854	$ 233,869	$ 265,520
Test & Measurement
Disaggregation of Revenue [Line Items]
Total revenue	14,337	17,080	43,955	54,449
Avionics, Military & Space
Disaggregation of Revenue [Line Items]
Total revenue	8,581	8,294	21,769	28,285
Transportation
Disaggregation of Revenue [Line Items]
Total revenue	12,802	15,490	38,985	40,993
Other Markets
Disaggregation of Revenue [Line Items]
Total revenue	14,826	16,402	48,750	54,124
Industrial Weighing
Disaggregation of Revenue [Line Items]
Total revenue	8,578	10,533	28,021	33,586
General Industrial
Disaggregation of Revenue [Line Items]
Total revenue	4,538	4,643	14,702	14,858
Steel
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,065	$ 13,412	$ 37,687	$ 39,225

Revenues - Schedule of Contract

Revenues - Schedule of Contract Assets and Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 28, 2024 USD ($)
Movement in Contract Assets and Liabilities [Roll Forward]
Contract asset, unbilled revenue, beginning balance	$ 2,989
Increase (decrease) in contract asset, unbilled revenue	2,016
Contract asset, unbilled revenue, ending balance	5,005
Contract liability, accrued customer advances, beginning balance	8,712
Increase (decrease) in contract liability, accrued customer advances	(440)
Contract liability, accrued customer advances, ending balance	$ 8,272

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 28, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Contract with customer, revenue recognized	$ 7.2

Goodwill (Details)

Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 28, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 45,734
Foreign currency translation adjustment	(124)
Ending balance	45,610
KELK Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	6,488
Foreign currency translation adjustment	(126)
Ending balance	6,362
DSI Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	16,902
Foreign currency translation adjustment	2
Ending balance	16,904
DTS Acquisition | Measurement Systems
Goodwill [Roll Forward]
Beginning balance	16,033
Foreign currency translation adjustment	0
Ending balance	16,033
Stress-Tek Acquisition | Weighing Solutions
Goodwill [Roll Forward]
Beginning balance	6,311
Foreign currency translation adjustment	0
Ending balance	$ 6,311

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 1.5
Operating lease, payments	$ 3.9	$ 3.8
Minimum | Buildings and Vehicles
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term (in years)	1 year
Maximum | Buildings and Vehicles
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term (in years)	12 years 4 months

Leases - Schedule of Leases Rec

Leases - Schedule of Leases Recorded on the Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Assets
Operating lease right of use asset	$ 25,239	$ 26,953
Liabilities
Operating lease - current	4,053	4,004
Operating lease - non-current	$ 20,645	$ 22,625

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details)	Sep. 28, 2024
Leases [Abstract]
Operating leases weighted average remaining lease term (in years)	7 years 2 months 23 days
Operating leases weighted average discount rate (percent)	5.03%

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 1,319	$ 1,331	$ 4,024	$ 3,822
Short-term lease cost	6	24	31	115
Sublease income	(111)	(95)	(334)	(293)
Total net lease cost	$ 1,214	$ 1,260	$ 3,721	$ 3,644

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 28, 2024 USD ($)
Leases [Abstract]
2024 (excluding the nine months ended September 28, 2024)	$ 1,302
2025	4,787
2026	4,099
2027	3,698
2028	3,465
Thereafter	11,953
Total future minimum lease payments	29,304
Less: amount representing interest	(4,606)
Present value of future minimum lease payments	$ 24,698

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	343.20%	27.60%

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Deferred financing costs	$ (617)	$ (144)
Total long-term debt	31,383	31,856
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Credit Agreement - Revolving Facility	$ 32,000	$ 32,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Aug. 15, 2024 USD ($) day	Mar. 20, 2020 USD ($)
Credit Agreement 2020
Debt Instrument [Line Items]
Line of credit facility, accordion feature, increase limit		$ 25,000,000
Credit Agreement 2020 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.50%
Fee on unused capacity (percent)		0.25%
Credit Agreement 2020 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		2.75%
Fee on unused capacity (percent)		0.40%
Credit Agreement 2024 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
Fee on unused capacity (percent)	0.20%
Credit Agreement 2024 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	3%
Fee on unused capacity (percent)	0.40%
Revolving Credit Facility | Credit Agreement 2020
Debt Instrument [Line Items]
Aggregate principal		$ 75,000,000
Revolving Credit Facility | Credit Agreement 2024
Debt Instrument [Line Items]
Aggregate principal	$ 75,000,000
Revolving Credit Facility | Credit Agreement 2024 | United States | Interest Rate Floor
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1%
Revolving Credit Facility | Credit Agreement 2024 | United States | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.25%
Revolving Credit Facility | Credit Agreement 2024 | Canada | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.25%
Average day rate for loans accruing interest | day	30
Letter of Credit | Credit Agreement 2020
Debt Instrument [Line Items]
Aggregate principal		$ 10,000,000
Letter of Credit | Credit Agreement 2024
Debt Instrument [Line Items]
Aggregate principal	$ 10,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 329,925	$ 306,522
Other comprehensive loss before reclassifications	(679)	(3,831)
Amounts reclassified from accumulated other comprehensive income (loss)	(16)	2
Balance, ending	330,657	324,157
Total
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(38,869)	(40,900)
Balance, ending	(39,564)	(44,729)
Foreign Currency Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(39,262)	(41,489)
Other comprehensive loss before reclassifications	(679)	(3,831)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance, ending	(39,941)	(45,320)
Pension and Other Postretirement Actuarial Items
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	393	589
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	(16)	2
Balance, ending	$ 377	$ 591

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	$ 66	$ 67	$ 199	$ 204
Interest cost	191	193	572	575
Expected return on plan assets	(211)	(216)	(630)	(642)
Amortization of actuarial losses (gains)	4	7	13	22
Net periodic benefit cost	50	51	154	159
OPEB Plans
Defined Benefit Plan Disclosure [Line Items]
Net service cost	4	4	12	12
Interest cost	27	28	81	84
Expected return on plan assets	0	0	0	0
Amortization of actuarial losses (gains)	(3)	(6)	(9)	(18)
Net periodic benefit cost	$ 28	$ 26	$ 84	$ 78

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Thousands				3 Months Ended
	Aug. 14, 2024 USD ($) shares	May 22, 2024 USD ($) shares	Mar. 07, 2024 USD ($) people shares	Sep. 28, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (up to)				608,000
Number of shares available for grant (in shares)				442,558
Share based compensation adjustment decrease | $				$ 500
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $	$ 60	$ 500
Number of RSUs granted (in shares)	1,835	14,826
Restricted Stock Units (RSUs) | Executive Officer
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 (percent)			50%
Weighted average grant date fair value | $			$ 1,700
Number of RSUs granted (in shares)			49,190
Award vesting period (in years)			3 years
Restricted Stock Units (RSUs) | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $			$ 600
Number of RSUs granted (in shares)			16,821
Award vesting period (in years)			3 years
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (percent)			50%
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance based units on total units approved (percent)			75%
Award vesting rights (percent)			25%
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance based units on total units approved (percent)			50%
Award vesting rights (percent)			50%

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 107	$ 656	$ 1,060	$ 1,885

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 28, 2024 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		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 75,727	$ 85,854	$ 233,869	$ 265,520
Gross profit	30,260	35,935	97,761	111,846
Operating income	3,841	8,224	16,665	29,943
Restructuring costs	(82)	(1,153)	(864)	(1,431)
Sensors
Segment Reporting Information [Line Items]
Net revenues	28,201	32,532	86,483	105,524
Weighing Solutions
Segment Reporting Information [Line Items]
Net revenues	25,174	28,969	81,467	92,090
Measurement Systems
Segment Reporting Information [Line Items]
Net revenues	22,352	24,353	65,919	67,906
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	75,727	85,854	233,869	265,520
Gross profit	30,260	35,935	97,759	111,846
Operating Segments | Sensors
Segment Reporting Information [Line Items]
Net revenues	28,201	32,532	86,484	105,524
Gross profit	8,730	11,681	30,528	41,374
Operating income	3,640	6,543	15,262	26,043
Restructuring costs	(59)	0	(601)	0
Operating Segments | Weighing Solutions
Segment Reporting Information [Line Items]
Net revenues	25,174	28,970	81,466	92,090
Gross profit	8,840	11,207	30,416	34,443
Operating income	2,845	5,393	15,070	16,894
Restructuring costs	(23)	(1,153)	(23)	(1,349)
Operating Segments | Measurement Systems
Segment Reporting Information [Line Items]
Net revenues	22,352	24,352	65,919	67,906
Gross profit	12,690	13,047	36,815	36,029
Operating income	5,130	5,605	11,781	14,246
Restructuring costs	0	0	0	(32)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated G&A expenses	(7,692)	(8,164)	(24,584)	(25,809)
Restructuring costs	(82)	(1,153)	(864)	(1,431)
Corporate/Other
Segment Reporting Information [Line Items]
Restructuring costs	$ 0	$ 0	$ (240)	$ (50)

Segment Information - Schedul_2

Segment Information - Schedule of Intersegment Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ (75,727)	$ (85,854)	$ (233,869)	$ (265,520)
Intersegment Eliminations | Sensors to Weighing Solutions
Segment Reporting Information [Line Items]
Total revenue	332	417	1,323	1,178
Intersegment Eliminations | Sensors to Measurement Systems
Segment Reporting Information [Line Items]
Total revenue	$ 4	$ 4	$ 17	$ 52

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Numerator:
Net (loss) earnings attributable to VPG stockholders	$ (1,351)	$ 6,280	$ 9,143	$ 21,480
Denominator:
Weighted average shares (in shares)	13,254	13,600	13,367	13,596
Effect of dilutive securities:
Restricted stock units (in shares)	0	86	38	74
Dilutive potential common shares (in shares)	0	86	38	74
Denominator for diluted earnings per share:
Adjusted weighted average shares (in shares)	13,254	13,686	13,405	13,670
Basic (loss) earnings per share attributable to VPG stockholders (dollars per share)	$ (0.10)	$ 0.46	$ 0.68	$ 1.58
Diluted (loss) earnings per share attributable to VPG stockholders (dollars per share)	$ (0.10)	$ 0.46	$ 0.68	$ 1.57

Additional Financial Statemen_3

Additional Financial Statement Information - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency exchange gain (loss)	$ (2,912)	$ 1,283	$ (36)	$ 2,138
Interest income	370	543	1,192	1,265
Pension expense	(8)	(72)	(28)	(217)
Other	(96)	(83)	(213)	(221)
Other nonoperating income (expense)	$ (2,646)	$ 1,671	$ 915	$ 2,965

Additional Financial Statemen_4

Additional Financial Statement Information - Schedule of Other Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Customer advance payments	$ 8,272	$ 8,712
Accrued restructuring	169	249
Goods received, not yet invoiced	1,638	2,837
Accrued taxes, other than income taxes	1,901	1,370
Accrued commissions	4,095	4,077
Accrued professional fees	2,016	1,343
Accrued technical warranty	778	770
Current accrued pensions and other post retirement costs	511	511
Other	2,609	2,558
Other accrued expenses	$ 21,989	$ 22,427

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 6,281	$ 5,841
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	71	59
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	6,210	5,782
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trusts	$ 0	$ 0

Restructuring Costs - Narrative

Restructuring Costs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 82	$ 1,153	$ 864	$ 1,431

Restructuring Costs - Schedule

Restructuring Costs - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 249
Restructuring charges in 2024	$ 82	$ 1,153	864	$ 1,431
Cash payments			(794)
Foreign currency exchange translation			(150)
Restructuring reserve, ending balance	$ 169		$ 169

Stockholder's Equity (Details)

Stockholder's Equity (Details) - USD ($) $ in Millions	24 Months Ended
	Aug. 09, 2024	Aug. 08, 2022
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to be repurchased (in shares)		600,000
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Treasury stock acquired (in shares)	518,328
Treasury stock acquired	$ 16.5

Commitments and Contingencies (

Commitments and Contingencies (Details) - 3 months ended Jun. 29, 2024 ₪ in Millions, $ in Millions	ILS (₪)	USD ($)
Israel Tax Authority
Other Commitments [Line Items]
Amount pertaining to claims of VAT	₪ 8.4	$ 2.2

Subsequent Event (Details)

Subsequent Event (Details) € in Thousands	Sep. 30, 2024 EUR (€)
Nokra Optische Prueftechnik und Automation GmbH | Subsequent Event
Subsequent Event [Line Items]
Total consideration	€ 3,950