Haverty Furniture Companies (HVT) 10-Q 5 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 30, 2014	Apr. 30, 2014
		Common Stock [Member]	Class A Common Stock [Member]
Entity Information [Line Items]	'	'	'
Entity Registrant Name	'HAVERTY FURNITURE COMPANIES INC	'	'
Entity Central Index Key	'0000216085	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	20,343,725	2,171,500
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Mar-14	'	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$84,508	$83,185
Restricted cash and cash equivalents	8,017	7,016
Accounts receivable	7,421	8,172
Inventories	95,964	91,483
Prepaid expenses	6,853	6,494
Other current assets	2,796	4,349
Total current assets	205,559	200,699
Accounts receivable, long-term	752	832
Property and equipment	187,850	189,242
Deferred income taxes	13,203	13,253
Other assets	14,479	13,829
Total assets	421,843	417,855
Current liabilities	'	'
Accounts payable	18,082	21,810
Customer deposits	24,745	19,008
Accrued liabilities	32,208	36,338
Current portion of lease obligations	1,012	959
Total current liabilities	76,047	78,115
Lease obligations, less current portion	15,916	16,196
Other liabilities	26,270	25,280
Commitments	0	0
Total liabilities	118,233	119,591
Capital Stock, par value $1 per share	'	'
Preferred Stock, Authorized - 1,000 shares; Issued: None	'	'
Additional paid-in capital	78,331	77,406
Retained earnings	285,561	281,222
Accumulated other comprehensive loss	-15,330	-15,412
Less treasury stock at cost - Common Stock (2014 and 2013 - 7,731) and Convertible Class A Common Stock (2014 and 2013 - 522)	-75,720	-75,720
Total stockholders' equity	303,610	298,264
Total liabilities and stockholders' equity	421,843	417,855
Common Stock [Member]	'	'
Capital Stock, par value $1 per share	'	'
Common Stock	28,072	27,853
Convertible Class A Common Stock [Member]	'	'
Capital Stock, par value $1 per share	'	'
Common Stock	$2,696	$2,915

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
Stockholders' equity	'	'
Preferred Stock, par value (in dollars per share)	$1	$1
Preferred Stock, shares authorized (in shares)	1,000	1,000
Preferred Stock, shares issued (in shares)	0	0
Common Stock, par value (in dollars per share)	$1	$1
Common Stock [Member]	'	'
Stockholders' equity	'	'
Common Stock, shares authorized (in shares)	50,000	50,000
Common Stock, shares issued (in shares)	28,072	27,853
Treasury stock, Common stock shares (in shares)	7,731	7,731
Convertible Class A Common Stock [Member]	'	'
Stockholders' equity	'	'
Common Stock, shares authorized (in shares)	15,000	15,000
Common Stock, shares issued (in shares)	2,696	2,915
Treasury stock, Common stock shares (in shares)	522	522

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract]	'	'
Net sales	$181,737	$186,090
Cost of goods sold	83,875	85,781
Gross profit	97,862	100,309
Credit service charges	81	86
Gross profit and other revenue	97,943	100,395
Expenses:	'	'
Selling, general and administrative	87,674	86,662
Interest, net	273	278
Provision for doubtful accounts	48	13
Other (income) expense, net	-8	-8
Total expenses	87,987	86,945
Income before income taxes	9,956	13,450
Income tax expense	3,827	5,190
Net income	$6,129	$8,260
Common Stock [Member]	'	'
Basic earnings per share:	'	'
Common Stock (in dollars per share)	$0.27	$0.37
Diluted earnings per share:	'	'
Common Stock (in dollars per share)	$0.27	$0.36
Basic weighted average common shares outstanding:	'	'
Common Stock (in shares)	20,157	19,717
Diluted weighted average common shares outstanding:	'	'
Common Stock (in shares)	22,928	22,955
Cash dividends per share:	'	'
Common Stock (in dollars per share)	$0.08	$0.04
Class A Common Stock [Member]	'	'
Basic earnings per share:	'	'
Common Stock (in dollars per share)	$0.26	$0.35
Diluted earnings per share:	'	'
Common Stock (in dollars per share)	$0.26	$0.34
Basic weighted average common shares outstanding:	'	'
Common Stock (in shares)	2,358	2,781
Diluted weighted average common shares outstanding:	'	'
Common Stock (in shares)	2,358	2,781
Cash dividends per share:	'	'
Common Stock (in dollars per share)	$0.08	$0.04

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]	'	'
Net income	$6,129	$8,260
Defined benefit pension plans:	'	'
Amortization of prior service cost	32	32
Amortization of net loss	50	266
Total other comprehensive income	82	298
Comprehensive income	$6,211	$8,558

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Flows from Operating Activities:	'	'
Net income	$6,129	$8,260
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	5,380	5,342
Share-based compensation expense	926	803
Provision for doubtful accounts	48	13
Other	120	-216
Changes in operating assets and liabilities:	'	'
Accounts receivable	783	586
Inventories	-4,481	-665
Customer deposits	5,737	-104
Other assets and liabilities	1,664	-1,454
Accounts payable and accrued liabilities	-7,858	-7,176
Net cash provided by operating activities	8,448	5,389
Cash Flows from Investing Activities:	'	'
Capital expenditures	-4,518	-3,972
Restricted cash and cash equivalents	-1,000	-1
Proceeds from sale of assets	409	2
Net cash used in investing activities	-5,109	-3,971
Cash Flows from Financing Activities:	'	'
Payments on lease obligations	-227	-216
Dividends paid	-1,789	-883
Net cash used in financing activities	-2,016	-1,099
Increase in cash and cash equivalents during the period	1,323	319
Cash and cash equivalents at beginning of period	83,185	53,550
Cash and cash equivalents at end of period	$84,508	$53,869

Business_and_Reporting_Policie

Business and Reporting Policies	3 Months Ended
	Mar. 31, 2014
Business and Reporting Policies [Abstract]	'
Business and Reporting Policies	'
	NOTE A – Business and Reporting Policies
	Haverty Furniture Companies, Inc. (“Havertys,” “the Company,” “we,” “our,” or “us”) is a retailer of a broad line of residential furniture in the middle to upper-middle price ranges. We operate all of our stores using the Havertys brand and do not franchise our concept. We operate in one reportable segment, home furnishings retailing. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. The financial statements include the accounts of the Company and its wholly-owned subsidiary.  All significant intercompany accounts and transactions have been eliminated in consolidation. We believe all adjustments, normal and recurring in nature, considered necessary for a fair presentation have been included.
	The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results could differ from those estimates.
	The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of its business activities.  We believe that any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on our financial condition, results of operations or cash flows.
	Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU’s) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASU’s. Newly effective ASU’s not noted herein were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations.
	In the first quarter of 2013, we recorded an out-of-period adjustment related to our historical accrual process for certain vendors' pricing allowances.  The non-cash adjustment increased gross profit by $0.8 million or $0.02 per diluted share after tax for the three months ended March 31, 2013.  After evaluating the quantitative and qualitative aspects of this correction, management determined that our previously issued quarterly and annual consolidated financial statements were not materially misstated and that the out-of-period adjustment is immaterial to our full year 2013 results.
	For further information, refer to the consolidated financial statements and footnotes thereto included in Havertys’ Annual Report on Form 10-K for the year ended December 31, 2013.

Restricted_Cash_and_Cash_Equiv

Restricted Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2014
Restricted Cash and Cash Equivalents [Abstract]	'
Restricted Cash and Cash Equivalents	'
	NOTE B – Restricted Cash and Cash Equivalents
	Our insurance carrier requires us to collateralize a portion of our workers' compensation obligations. These escrowed funds are shown as restricted cash and cash equivalents on our consolidated balance sheet and are investments in money market funds held by an agent.  The annual agreement with our carrier governing these funds expires on December 31, 2014.

Accounts_Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2014
Accounts Receivable [Abstract]	'
Accounts Receivable	'
	NOTE C – Accounts Receivable
	Amounts financed under our in-house credit programs were, as a percent of net sales, approximately 3.3% and 4.0% during the first three months of 2014 and 2013, respectively. The in-house credit program selected most often by our customers is “12 months no interest with equal monthly payments.”  The terms of the other programs vary as to payment terms (30 days to three years) and interest rates (0% to 21%).  The receivables are collateralized by the merchandise sold.
	Accounts receivable balances resulting from certain credit promotions have scheduled payment amounts which extend beyond one year. These receivable balances have been historically collected earlier than the scheduled dates. The amounts due per the scheduled payment dates approximate as follows: $7.6 million in one year, $0.7 million in two years, and $0.2 million beyond two years for receivables outstanding at March 31, 2014.
	Accounts receivable are shown net of the allowance for doubtful accounts of $0.4 million at March 31, 2014 and December 31, 2013. We provide an allowance utilizing a methodology which considers the balances in problem and delinquent categories of accounts, historical write-offs, existing economic conditions and management judgment. Interest assessments are continued on past-due accounts but no “interest on interest” is recorded. Delinquent accounts are generally written off automatically after the passage of nine months without receiving a full scheduled monthly payment. Accounts are written off sooner in the event of a discharged bankruptcy or other circumstances that make further collections unlikely.
	We believe that the carrying value of existing customer receivables, net of allowances, approximates fair value because of their short average maturity. Concentrations of credit risk with respect to customer receivables are limited due to the large number of customers comprising our account base and their dispersion across 16 states.

Interim_LIFO_Calculations

Interim LIFO Calculations	3 Months Ended
	Mar. 31, 2014
Interim LIFO Calculations [Abstract]	'
Interim LIFO Calculations	'
	NOTE D – Interim LIFO Calculations
	An actual valuation of inventory under the LIFO method can be made only at the end of each year based on actual inventory levels. Accordingly, interim LIFO calculations must necessarily be based on management’s estimates. Since these estimates may be affected by factors beyond management’s control, interim results are subject to change based upon the final year-end LIFO inventory valuations.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	NOTE E – Income Taxes
	Our tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a year to date adjustment.
	Our effective tax rates for the three months ended March 31, 2014 and 2013 were 38.4% and 38.6%, respectively.  The primary difference in the effective rate and the statutory rate is due to state income taxes.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Fair Value of Financial Instruments [Abstract]	'
Fair Value of Financial Instruments	'
	NOTE F – Fair Value of Financial Instruments
	The fair values of our cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and customer deposits approximate their carrying values due to their short-term nature. The assets related to our self-directed, non-qualified deferred compensation plans for certain executives and employees are valued using quoted market prices multiplied by the number of shares held, a Level 1 valuation technique. The assets related to our deferred compensation plans totaled approximately $2.4 million at March 31, 2014 and $2.1 million at  December 31, 2013 and are included in other assets.  The related liability of the same amount is included in other liabilities.

Pension_Plans

Pension Plans	3 Months Ended
	Mar. 31, 2014
Pension Plans [Abstract]	'
Pension Plans	'
	NOTE G – Pension Plans
	We have a defined benefit pension plan covering substantially all employees hired on or before December 31, 2005.  The pension plan was closed to any employee hired after that date.  The benefits are based on years of service and the employee’s final average compensation.  Effective January 1, 2007, no new benefits are earned under this plan for additional years of service after December 31, 2006.
	We also have a non-qualified, non-contributory supplemental executive retirement plan (SERP) for employees whose retirement benefits are reduced due to their annual compensation levels.  The SERP limits the total amount of annual retirement benefits that may be paid to a participant in the SERP from all sources (Retirement Plan, Social Security and the SERP) to $125,000.  The SERP is not funded so we pay benefits directly to participants.
	Net pension costs included the following components (in thousands):
		Three Months Ended
		March 31,
		2014			2013
	Service cost-benefits earned during period	$	31		$	27
	Interest cost on projected benefit obligations		954			877
	Expected return on plan assets		(1,214	)		(1,243	)
	Amortization of prior service costs		52			52
	Amortization of actuarial loss		79			428
	Net pension costs	$	(98	)	$	141

Stock_Based_Compensation_Plan

Stock Based Compensation Plan	3 Months Ended
	Mar. 31, 2014
Stock Based Compensation Plan [Abstract]	'
Stock Based Compensation Plan	'
	NOTE H – Stock Based Compensation Plan
	As more fully discussed in Note 11 of the notes to the consolidated financial statements in our 2013 Annual Report on Form 10-K, we have awards outstanding for Common Stock under a stock-based employee compensation plan.
	The following table summarizes our award activity during the three months ended March 31, 2014:
		Restricted Stock Awards					Stock-Settled
							Appreciation Rights
		Shares or Units			Weighted-Average				Weighted-Average
					Award Price		Rights		Award Price
	Outstanding at December 31, 2013		437,000		$	14.46		149,700	$	15.78
	Granted		138,565			28.92		—
	Forfeited		(3,850	)		20.8		—
	Outstanding at March 31, 2014		571,715			17.92		149,700	$	15.78
	Exercisable at March 31, 2014		—			—		37,700	$	8.76
	Grants of equity awards are made to certain officers and key employees under the 2004 LTIP Plan. The restrictions on most of the awards generally lapse annually, primarily over four year periods. During 2014, the Company granted 39,890 awards for which the shares ultimately issued will be based upon the achievement of various performance measures.  The restricted units earned under most of these awards vest after three years. The compensation is being charged to selling, general and administrative expense over the respective grants’ vesting periods, primarily on a straight-line basis.  Stock based compensation expense for the three months ended March 31, 2014 was approximately $0.9 million and $0.8 million in 2013. The aggregate intrinsic value of outstanding restricted common stock grants was $17.0 million at March 31, 2014. The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at March 31, 2014 was approximately $0.8 million and $2.1 million, respectively.
	As of March 31, 2014, the remaining unamortized compensation cost related to unvested equity awards was approximately $7.0 million and scheduled to be recognized over a weighted-average period of 2.7 years.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	NOTE I – Earnings Per Share
	We report our earnings per share using the two-class method.  The income per share for each class of common stock is calculated assuming 100% of our earnings are distributed as dividends to each class of common stock based on their contractual rights.
	The Common Stock of the Company has a preferential dividend rate of at least 105% of the dividend paid on the Class A Common Stock. The Class A Common Stock, which has ten votes per share as opposed to one vote per share for the Common Stock (on all matters other than the election of directors), may be converted at any time on a one-for-one basis into Common Stock at the option of the holder of the Class A Common Stock.
	The following is a reconciliation of the earnings and number of shares used in calculating the diluted earnings per share for Common Stock and Class A Common Stock (in thousands):
		Three Months Ended
		March 31,
		2014		2013
	Numerator:
	Common:
	Distributed earnings	$	1,610	$	780
	Undistributed earnings		3,905		6,503
	Basic		5,515		7,283
	Class A Common earnings		614		977
	Diluted	$	6,129	$	8,260
	Class A Common:
	Distributed earnings	$	179	$	103
	Undistributed earnings		435		874
		$	614	$	977
	Denominator:
	Common:
	Weighted average shares outstanding - basic		20,157		19,717
	Assumed conversion of Class A Common Stock		2,358		2,781
	Dilutive options, awards and common stock equivalents		413		457
	Total weighted-average diluted Common Stock		22,928		22,955
	Class A Common:
	Weighted average shares outstanding		2,358		2,781

Pension_Plans_Tables

Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Pension Plans [Abstract]	'
Net Pension Costs	'
	Net pension costs included the following components (in thousands):
		Three Months Ended
		March 31,
		2014			2013
	Service cost-benefits earned during period	$	31		$	27
	Interest cost on projected benefit obligations		954			877
	Expected return on plan assets		(1,214	)		(1,243	)
	Amortization of prior service costs		52			52
	Amortization of actuarial loss		79			428
	Net pension costs	$	(98	)	$	141

Stock_Based_Compensation_Plan_

Stock Based Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2014
Stock Based Compensation Plan [Abstract]	'
Stock Award Activity	'
	The following table summarizes our award activity during the three months ended March 31, 2014:
		Restricted Stock Awards					Stock-Settled
							Appreciation Rights
		Shares or Units			Weighted-Average				Weighted-Average
					Award Price		Rights		Award Price
	Outstanding at December 31, 2013		437,000		$	14.46		149,700	$	15.78
	Granted		138,565			28.92		—
	Forfeited		(3,850	)		20.8		—
	Outstanding at March 31, 2014		571,715			17.92		149,700	$	15.78
	Exercisable at March 31, 2014		—			—		37,700	$	8.76

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Reconciliation of Earnings and Number of Shares Used in Calculating Diluted Earnings (Loss) Per Share	'
	The following is a reconciliation of the earnings and number of shares used in calculating the diluted earnings per share for Common Stock and Class A Common Stock (in thousands):
		Three Months Ended
		March 31,
		2014		2013
	Numerator:
	Common:
	Distributed earnings	$	1,610	$	780
	Undistributed earnings		3,905		6,503
	Basic		5,515		7,283
	Class A Common earnings		614		977
	Diluted	$	6,129	$	8,260
	Class A Common:
	Distributed earnings	$	179	$	103
	Undistributed earnings		435		874
		$	614	$	977
	Denominator:
	Common:
	Weighted average shares outstanding - basic		20,157		19,717
	Assumed conversion of Class A Common Stock		2,358		2,781
	Dilutive options, awards and common stock equivalents		413		457
	Total weighted-average diluted Common Stock		22,928		22,955
	Class A Common:
	Weighted average shares outstanding		2,358		2,781

Business_and_Reporting_Policie1

Business and Reporting Policies (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	Segment
Business and Reporting Policies [Abstract]	'	'
Number of reportable segments	1	'
Increase in gross profit due to out of period adjustment	'	$0.80
Increase (decrease) in gross profit due to out of period adjustment (in dollars per share)	'	$0.02

Accounts_Receivable_Details

Accounts Receivable (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
	State
Accounts Receivable [Abstract]	'	'	'
Percentage of amounts financed under in-house credit programs, as a percent of net sales (in hundredths)	3.30%	'	4.00%
Duration of no interest credit programs	'12 months	'	'
Term of other programs, minimum	'30 days	'	'
Term of other programs, maximum	'3 years	'	'
Interest rate of other programs, minimum (in hundredths)	0.00%	'	'
Interest rate of other programs, maximum (in hundredths)	21.00%	'	'
Accounts receivable due per scheduled payment [Abstract]	'	'	'
Accounts receivables collectible in one year	$7.60	'	'
Accounts receivables collectible in two years	0.7	'	'
Accounts receivables collectible beyond two years	0.2	'	'
Allowance for doubtful accounts	$0.40	$0.40	'
Account write-off period	'9 months	'	'
Number of states in which accounts receivable originated	16	'	'

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Abstract]	'	'
Effective tax rate (in hundredths)	38.40%	38.60%

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Details) (Level 1 [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Level 1 [Member]	'	'
Assets [Abstract]	'	'
Deferred compensation plans	$2.40	$2.10

Pension_Plans_Details

Pension Plans (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net pension cost [Abstract]	'	'
Amortization of prior service costs	($32,000)	($32,000)
Amortization of actuarial loss	-50,000	-266,000
Pension Plans [Member]	'	'
Net pension cost [Abstract]	'	'
Service cost-benefits earned during period	31,000	27,000
Interest cost on projected benefit obligations	954,000	877,000
Expected return on plan assets	-1,214,000	-1,243,000
Amortization of prior service costs	52,000	52,000
Amortization of actuarial loss	79,000	428,000
Net pension costs	-98,000	141,000
Supplemental Executive Retirement Plan [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Maximum amount of annual retirement benefits	$125,000	'

Stock_Based_Compensation_Plan_1

Stock Based Compensation Plan (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Weighted-Average Award Price [Roll Forward]	'	'
Period of restrictions over awards	'4 years	'
Compensation expense	$0.90	$0.80
Total compensation cost related to unvested equity awards	7	'
Weighted-average period of recognition of cost	'2 years 8 months 12 days	'
Restricted Stock Award [Member]	'	'
Shares or Units and Rights [Roll Forward]	'	'
Outstanding, beginning balance (in shares)	437,000	'
Granted (in shares)	138,565	'
Forfeited (in shares)	-3,850	'
Outstanding, ending balance (in shares)	571,715	'
Exercisable, ending balance (in shares)	0	'
Weighted-Average Award Price [Roll Forward]	'	'
Outstanding, beginning balance (in dollars per share)	$14.46	'
Granted (in dollars per share)	$28.92	'
Forfeited (in dollars per share)	$20.80	'
Outstanding, ending balance (in dollars per share)	$17.92	'
Exercisable, ending balance (in dollars per share)	$0	'
Vesting period	'3 years	'
Aggregate intrinsic value of outstanding awards	17	'
Stock-Settled Appreciation Rights [Member]	'	'
Shares or Units and Rights [Roll Forward]	'	'
Outstanding, beginning balance (in shares)	149,700	'
Granted (in shares)	0	'
Forfeited (in shares)	0	'
Outstanding, ending balance (in shares)	149,700	'
Exercisable, ending balance (in shares)	37,700	'
Weighted-Average Award Price [Roll Forward]	'	'
Outstanding, beginning balance (in dollars per share)	$15.78	'
Outstanding, ending balance (in dollars per share)	$15.78	'
Exercisable, ending balance (in dollars per share)	$8.76	'
Aggregate intrinsic value of outstanding awards	2.1	'
Aggregate intrinsic value of vested awards	$0.80	'
Performance Shares [Member]	'	'
Shares or Units and Rights [Roll Forward]	'	'
Granted (in shares)	39,890	'

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	Vote
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'
Percentage of earnings or losses assumed in calculation (in hundredths)	100.00%	'
Preferential dividend rate of dividend paid on Class A Common Stock (in hundredths)	105.00%	'
Common Stock [Member]	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'
Number of votes per share	1	'
Numerator [Abstract]	'	'
Distributed earnings	$1,610	$780
Undistributed earnings	3,905	6,503
Basic	5,515	7,283
Class A Common earnings (loss)	614	977
Diluted	6,129	8,260
Denominator [Abstract]	'	'
Weighted average shares outstanding - basic (in shares)	20,157	19,717
Assumed conversion of Class A Common Stock (in shares)	2,358	2,781
Dilutive options, awards and common stock equivalents (in shares)	413	457
Total weighted-average diluted Common Stock (in shares)	22,928	22,955
Class A Common [Member]	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'
Number of votes per share	10	'
Numerator [Abstract]	'	'
Distributed earnings	179	103
Undistributed earnings	435	874
Class A Common earnings (loss)	$614	$977
Denominator [Abstract]	'	'
Weighted average shares outstanding - basic (in shares)	2,358	2,781
Total weighted-average diluted Common Stock (in shares)	2,358	2,781
Weighted average shares outstanding (in shares)	2,358	2,781