Haverty Furniture Companies (HVT) 10-Q 5 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Entity Information [Line Items]
Entity Registrant Name	HAVERTY FURNITURE COMPANIES INC
Entity Central Index Key	216085
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		20,576,570
Class A Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,080,605

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$74,146	$65,481
Investments	6,250	7,250
Restricted cash and cash equivalents	8,000	8,017
Accounts receivable	6,393	7,146
Inventories	107,348	107,139
Prepaid expenses	7,271	6,418
Other current assets	4,073	8,010
Total current assets	213,481	209,461
Accounts receivable, long-term	695	731
Property and equipment	228,952	225,162
Deferred income taxes	17,939	17,610
Other assets	8,559	8,023
Total assets	469,626	460,987
Current liabilities
Accounts payable	23,055	24,152
Customer deposits	29,583	23,687
Accrued liabilities	35,632	39,960
Deferred income taxes	5,689	5,689
Current portion of lease obligations	2,788	2,387
Total current liabilities	96,747	95,875
Lease obligations, less current portion	48,861	46,678
Other liabilities	26,557	26,351
Commitments
Total liabilities	172,165	168,904
Capital Stock, par value $1 per share
Preferred Stock, Authorized - 1,000 shares; Issued: None
Additional paid-in capital	80,729	79,726
Retained earnings	264,348	260,031
Accumulated other comprehensive loss	-2,118	-2,168
Less treasury stock at cost - Common Stock (2015 and 2014 - 7,759) and Convertible Class A Common Stock (2015 and 2014 - 522)	-76,436	-76,436
Total stockholders' equity	297,461	292,083
Total liabilities and stockholders' equity	469,626	460,987
Common Stock [Member]
Capital Stock, par value $1 per share
Common Stock	28,335	28,327
Convertible Class A Common Stock [Member]
Capital Stock, par value $1 per share
Common Stock	$2,603	$2,603

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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)	28,335	28,327
Treasury stock, Common stock shares (in shares)	7,759	7,759
Convertible Class A Common Stock [Member]
Stockholders' equity
Common Stock, shares authorized (in shares)	15,000	15,000
Common Stock, shares issued (in shares)	2,603	2,603
Treasury stock, Common stock shares (in shares)	522	522

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net sales	$191,331	$181,737
Cost of goods sold	88,684	83,875
Gross profit	102,647	97,862
Credit service charges	72	81
Gross profit and other revenue	102,719	97,943
Expenses:
Selling, general and administrative	92,303	87,674
Provision for doubtful accounts	23	48
Other income, net	-27	-8
Total expenses	92,299	87,714
Income before interest and income taxes	10,420	10,229
Interest expense, net	492	273
Income before income taxes	9,928	9,956
Income tax expense	3,809	3,827
Net income	6,119	6,129
Other comprehensive income
Adjustments related to retirement plans; net of tax expense of $31 and $50	50	82
Comprehensive income	$6,169	$6,211
Common Stock [Member]
Basic earnings per share:
Common Stock (in dollars per share)	$0.27	$0.27
Diluted earnings per share:
Common Stock (in dollars per share)	$0.27	$0.27
Cash dividends per share:
Common Stock (in dollars per share)	$0.08	$0.08
Class A Common Stock [Member]
Basic earnings per share:
Common Stock (in dollars per share)	$0.26	$0.26
Diluted earnings per share:
Common Stock (in dollars per share)	$0.25	$0.26
Cash dividends per share:
Common Stock (in dollars per share)	$0.08	$0.08

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Other comprehensive income
Adjustments related to retirement plans tax expense	$31	$50

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net income	$6,119	$6,129
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,098	5,380
Share-based compensation expense	1,113	926
Provision for doubtful accounts	23	48
Other	-6	120
Changes in operating assets and liabilities:
Accounts receivable	766	783
Inventories	-209	-4,481
Customer deposits	5,896	5,737
Other assets and liabilities	-451	1,664
Accounts payable and accrued liabilities	-5,785	-7,858
Net cash provided by operating activities	13,564	8,448
Cash Flows from Investing Activities:
Capital expenditures	-6,711	-4,518
Maturities of certificates of deposit	1,000	0
Restricted cash and cash equivalents	17	-1,000
Other	6	409
Net cash used in investing activities	-5,688	-5,109
Cash Flows from Financing Activities:
Payments on lease obligations	-593	-227
Dividends paid	-1,802	-1,789
Construction allowance receipts	3,286	0
Other	-102	0
Net cash provided by (used in) financing activities	789	-2,016
Increase in cash and cash equivalents during the period	8,665	1,323
Cash and cash equivalents at beginning of period	65,481	83,185
Cash and cash equivalents at end of period	$74,146	$84,508

Business_and_Reporting_Policie

Business and Reporting Policies	3 Months Ended
	Mar. 31, 2015
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.
	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, 2014.

Restricted_Cash_and_Cash_Equiv

Restricted Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2015
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, 2015.

Investments

Investments	3 Months Ended
	Mar. 31, 2015
Investments [Abstract]
Investments	NOTE C – Investments
	We have purchased certificates of deposit held for investment with original maturities greater than three months.  The fair values of the certificates of deposit approximates their carrying amounts.  Certificates of deposit with remaining maturities less than one year totaled $6,250,000 and are classified as current and those with remaining maturities greater than one year totaled $2,750,000 and are included in other assets.

Accounts_Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2015
Accounts Receivable [Abstract]
Accounts Receivable	NOTE D – Accounts Receivable
	Amounts financed under our in-house credit programs were, as a percent of net sales, approximately 2.9% and 3.3% during the first three months of 2015 and 2014, 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: $6.5 million in one year, $0.7 million in two years, and $0.2 million beyond two years for receivables outstanding at March 31, 2015.
	Accounts receivable are shown net of the allowance for doubtful accounts of $0.3 million at March 31, 2015 and $0.4 million at December 31, 2014. 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, 2015
Interim LIFO Calculations [Abstract]
Interim LIFO Calculations	NOTE E – 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, 2015
Income Taxes [Abstract]
Income Taxes	NOTE F – 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 rate for the three months ended March 31, 2015 and 2014 was 38.4%.  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, 2015
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	NOTE G – 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 $3.3 million at March 31, 2015 and $2.7 million at December 31, 2014 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, 2015
Pension Plans [Abstract]
Pension Plans	NOTE H – Pension Plans
	On May 13, 2014, our defined benefit plan (the "Pension Plan") was terminated effective July 20, 2014.  During the fourth quarter of 2014 Pension Plan participants received their earned benefits through the payment of lump-sum cash distributions, roll-over payments to other retirement accounts, and the purchase of annuity contracts from a third-party insurance company.  The Pension Plan was fully funded so no company contributions were required in 2014 to completely settle our obligations.  Additional information regarding the settlement of the Pension Plan can be found in our Annual Report on Form 10‑K for the year ended December 31, 2014.
	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):
		SERP				Pension Plan
		Three Months Ended				Three Months Ended
		March 31,				March 31,
		2015		2014		2015		2014
	Service cost-benefits earned during period	$	—	$	—	$	N/A	$	31
	Interest cost on projected benefit obligations		—		—				954
	Expected return on plan assets		—		—				(1,214	)
	Amortization of prior service costs		52		52				—
	Amortization of actuarial (gain) loss		29		—				79
	Net pension costs	$	81	$	52	$	N/A	$	(150	)

Stock_Based_Compensation_Plan

Stock Based Compensation Plan	3 Months Ended
	Mar. 31, 2015
Stock Based Compensation Plan [Abstract]
Stock Based Compensation Plan	NOTE I – Stock Based Compensation Plan
	As more fully discussed in Note 12 of the notes to the consolidated financial statements in our 2014 Annual Report on Form 10-K, we have awards outstanding for Common Stock under stock-based employee compensation plans.
	The following table summarizes our award activity during the three months ended March 31, 2015:
		Restricted Stock Awards					Stock-Settled
							Appreciation Rights
		Shares or Units			Weighted-Average		Rights			Weighted-Average
					Award Price					Award Price
	Outstanding at December 31, 2014		321,322		$	20.49		129,975		$	16.04
	Granted		171,485			24		—			—
	Restrictions lapsed or exercised		—			—		(19,100	)		8.74
	Forfeited		(2,802	)		24.74		—			—
	Outstanding at March 31, 2015		490,005		$	21.69		110,875		$	17.29
	Exercisable at March 31, 2015		—			—		32,875		$	15.28
	Grants of equity awards are made to certain officers and key employees under stockholder approved long-term incentive plans. The restrictions on most of the awards generally lapse annually, primarily over four year periods. During 2015, the Company granted 52,377 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, 2015 and March 31, 2014, was approximately $1.1 million and $0.9 million, respectively. The aggregate intrinsic value of outstanding restricted common stock grants was $12.2 million at March 31, 2015. The aggregate intrinsic value of vested and outstanding stock-settled appreciation rights at March 31, 2015 was approximately $0.3 million and $0.8 million, respectively.
	As of March 31, 2015, the remaining unamortized compensation cost related to unvested equity awards was approximately $7.5 million and scheduled to be recognized over a weighted-average period of 2.5 years.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	NOTE J – 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,
		2015		2014
	Numerator:
	Common:
	Distributed earnings	$	1,646	$	1,610
	Undistributed earnings		3,938		3,905
	Basic		5,584		5,515
	Class A Common earnings		535		614
	Diluted	$	6,119	$	6,129
	Class A Common:
	Distributed earnings	$	156	$	179
	Undistributed earnings		379		435
		$	535	$	614
	Denominator:
	Common:
	Weighted average shares outstanding - basic		20,569		20,157
	Assumed conversion of Class A Common Stock		2,081		2,358
	Dilutive options, awards and common stock equivalents		327		413
	Total weighted-average diluted Common Stock		22,977		22,928
	Class A Common:
	Weighted average shares outstanding		2,081		2,358

Pension_Plans_Tables

Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Pension Plans [Abstract]
Net Pension Costs	Net pension costs included the following components (in thousands):
		SERP				Pension Plan
		Three Months Ended				Three Months Ended
		March 31,				March 31,
		2015		2014		2015		2014
	Service cost-benefits earned during period	$	—	$	—	$	N/A	$	31
	Interest cost on projected benefit obligations		—		—				954
	Expected return on plan assets		—		—				(1,214	)
	Amortization of prior service costs		52		52				—
	Amortization of actuarial (gain) loss		29		—				79
	Net pension costs	$	81	$	52	$	N/A	$	(150	)

Stock_Based_Compensation_Plan_

Stock Based Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2015
Stock Based Compensation Plan [Abstract]
Stock Award Activity	The following table summarizes our award activity during the three months ended March 31, 2015:
		Restricted Stock Awards					Stock-Settled
							Appreciation Rights
		Shares or Units			Weighted-Average		Rights			Weighted-Average
					Award Price					Award Price
	Outstanding at December 31, 2014		321,322		$	20.49		129,975		$	16.04
	Granted		171,485			24		—			—
	Restrictions lapsed or exercised		—			—		(19,100	)		8.74
	Forfeited		(2,802	)		24.74		—			—
	Outstanding at March 31, 2015		490,005		$	21.69		110,875		$	17.29
	Exercisable at March 31, 2015		—			—		32,875		$	15.28

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
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,
		2015		2014
	Numerator:
	Common:
	Distributed earnings	$	1,646	$	1,610
	Undistributed earnings		3,938		3,905
	Basic		5,584		5,515
	Class A Common earnings		535		614
	Diluted	$	6,119	$	6,129
	Class A Common:
	Distributed earnings	$	156	$	179
	Undistributed earnings		379		435
		$	535	$	614
	Denominator:
	Common:
	Weighted average shares outstanding - basic		20,569		20,157
	Assumed conversion of Class A Common Stock		2,081		2,358
	Dilutive options, awards and common stock equivalents		327		413
	Total weighted-average diluted Common Stock		22,977		22,928
	Class A Common:
	Weighted average shares outstanding		2,081		2,358

Business_and_Reporting_Policie1

Business and Reporting Policies (Details)	3 Months Ended
	Mar. 31, 2015
	Segment
Business and Reporting Policies [Abstract]
Number of reportable segments	1

Investments_Details

Investments (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Investments [Abstract]
Certificates of deposit with remaining maturities less than one year	$6,250,000	$7,250,000
Certificates of deposit with remaining maturities greater than one year	$2,750,000

Accounts_Receivable_Details

Accounts Receivable (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
	State
Accounts Receivable [Abstract]
Percentage of amounts financed under in-house credit programs, as a percent of net sales (in hundredths)	2.90%		3.30%
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	$6.50
Accounts receivables collectible in two years	0.7
Accounts receivables collectible beyond two years	0.2
Allowance for doubtful accounts	$0.30	$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, 2015	Mar. 31, 2014
Income Taxes [Abstract]
Effective tax rate (in hundredths)	38.40%	38.40%

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Details) (Level 1 [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Level 1 [Member]
Assets [Abstract]
Deferred compensation plans	$3.30	$2.70

Pension_Plans_Details

Pension Plans (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
SERP [Member]
Defined Benefit Plan Disclosure [Line Items]
Maximum amount of annual retirement benefits	$125,000
Net pension cost [Abstract]
Service cost-benefits earned during period	0	0
Interest cost on projected benefit obligations	0	0
Expected return on plan assets	0	0
Amortization of prior service costs	52,000	52,000
Amortization of actuarial (gain) loss	29,000	0
Net pension costs	81,000	52,000
Pension Plan [Member]
Net pension cost [Abstract]
Service cost-benefits earned during period		31,000
Interest cost on projected benefit obligations		954,000
Expected return on plan assets		-1,214,000
Amortization of prior service costs		0
Amortization of actuarial (gain) loss		79,000
Net pension costs		($150,000)

Stock_Based_Compensation_Plan_1

Stock Based Compensation Plan (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Weighted-Average Award Price [Roll Forward]
Period of restrictions over awards	4 years
Compensation expense	$1.10	$0.90
Total compensation cost related to unvested equity awards	7.5
Weighted-average period of recognition of cost	2 years 6 months
Restricted Stock Award [Member]
Shares or Units and Rights [Roll Forward]
Outstanding, beginning balance (in shares)	321,322
Granted (in shares)	171,485
Restrictions lapsed or exercised (in shares)	0
Forfeited (in shares)	-2,802
Outstanding, ending balance (in shares)	490,005
Exercisable, ending balance (in shares)	0
Weighted-Average Award Price [Roll Forward]
Outstanding, beginning balance (in dollars per share)	$20.49
Granted (in dollars per share)	$24
Restrictions lapsed or exercised (in dollars per share)	$0
Forfeited (in dollars per share)	$24.74
Outstanding, ending balance (in dollars per share)	$21.69
Exercisable, ending balance (in dollars per share)	$0
Vesting period	3 years
Aggregate intrinsic value of outstanding awards	12.2
Stock-Settled Appreciation Rights [Member]
Shares or Units and Rights [Roll Forward]
Outstanding, beginning balance (in shares)	129,975
Granted (in shares)	0
Restrictions lapsed or exercised (in shares)	-19,100
Forfeited (in shares)	0
Outstanding, ending balance (in shares)	110,875
Exercisable, ending balance (in shares)	32,875
Weighted-Average Award Price [Roll Forward]
Outstanding, beginning balance (in dollars per share)	$16.04
Granted (in dollars per share)	$0
Restrictions lapsed or exercised (in dollars per share)	$8.74
Forfeited (in dollars per share)	$0
Outstanding, ending balance (in dollars per share)	$17.29
Exercisable, ending balance (in dollars per share)	$15.28
Aggregate intrinsic value of vested awards	0.3
Aggregate intrinsic value of outstanding awards	$0.80
Performance Shares [Member]
Shares or Units and Rights [Roll Forward]
Granted (in shares)	52,377

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	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	$1,646	$1,610
Undistributed earnings	3,938	3,905
Basic	5,584	5,515
Class A Common earnings	535	614
Diluted	6,119	6,129
Denominator [Abstract]
Weighted average shares outstanding - basic (in shares)	20,569	20,157
Assumed conversion of Class A Common Stock (in shares)	2,081	2,358
Dilutive options, awards and common stock equivalents (in shares)	327	413
Total weighted-average diluted Common Stock (in shares)	22,977	22,928
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	156	179
Undistributed earnings	379	435
Class A Common earnings	$535	$614
Denominator [Abstract]
Weighted average shares outstanding (in shares)	2,081	2,358