The Gorman-Rupp Company (GRC) 10-Q 30 Jul 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'GORMAN RUPP CO	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	26,260,543
Amendment Flag	'false	'
Entity Central Index Key	'0000042682	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net sales	$109,728	$106,415	$219,792	$198,872
Cost of products sold	82,824	79,934	165,334	151,167
Gross profit	26,904	26,481	54,458	47,705
Selling, general and administrative expenses	13,483	12,964	26,344	25,931
Operating income	13,421	13,517	28,114	21,774
Other income	184	153	357	272
Other expense	-377	-174	-411	-323
Income before income taxes	13,228	13,496	28,060	21,723
Income taxes	4,368	4,328	9,246	6,737
Net income	$8,860	$9,168	$18,814	$14,986
Earnings per share (in Dollars per share)	$0.34	$0.35	$0.72	$0.57
Cash dividends paid per share (in Dollars per share)	$0.09	$0.08	$0.18	$0.16
Average shares outstanding (in Shares)	26,253,043	26,245,543	26,253,043	26,245,543

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net income	$8,860	$9,168	$18,814	$14,986
Cumulative translation adjustments	207	-726	-149	-1,559
Pension and postretirement medical liability adjustments, net of tax	37	1,369	211	2,578
Other comprehensive income	244	643	62	1,019
Total comprehensive income	$9,104	$9,811	$18,876	$16,005

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$29,446	$31,123
Short-term investments	255	253
Accounts receivable - net	75,864	59,374
Inventories - net	88,376	89,946
Deferred income taxes and other current assets	11,317	8,593
Total current assets	205,258	189,289
Property, plant and equipment	261,923	253,758
Less accumulated depreciation	129,113	122,569
Property, plant and equipment - net	132,810	131,189
Other assets	6,396	3,657
Goodwill and other intangible assets - net	41,170	31,503
Total assets	385,634	355,638
Current liabilities:	'	'
Accounts payable	20,252	17,882
Short-term debt	22,667	9,000
Payroll and related liabilities	12,029	11,020
Commissions payable	6,709	6,081
Deferred revenue	5,366	7,190
Accrued expenses	9,001	9,587
Total current liabilities	76,024	60,760
Postretirement benefits	18,988	18,393
Deferred and other income taxes	12,331	12,345
Total liabilities	107,343	91,498
Common shares, without par value:	'	'
Authorized - 35,000,000 shares, Outstanding - 26,253,043 shares in 2014 and in 2013 (after deducting treasury shares of / FONT>795,753 in 2014 and in 2013) at stated capital amount	5,131	5,131
Additional paid-in capital	2,822	2,822
Retained earnings	278,737	264,648
Accumulated other comprehensive loss	-8,399	-8,461
Total shareholders' equity	278,291	264,140
Total liabilities and shareholders' equity	$385,634	$355,638

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common sharP5s - authorizP5d	35,000,000	35,000,000
Common sharP5s - sharP5s outstanding after deducting trP5asury sharP5s	26,253,043	26,253,043
TrP5asury sharP5s	795,753	795,753
Common sharP5s, par valuP5 (in Dollars per share)	$0	$0

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$18,814	$14,986
Adjustments to reconcile net income attributable to net cash provided (used) by operating activities:	'	'
Depreciation and amortization	7,048	6,805
Pension expense, including 2013 non-cash settlement loss	1,437	4,641
Contributions to pension plan	-1,200	-3,600
Changes in operating assets and liabilities:	'	'
Accounts receivable	-13,660	-11,656
Inventories	3,396	5,222
Accounts payable	1,650	2,138
Commissions payable	628	-820
Other	-6,128	3,372
Net cash provided by operating activities	11,985	21,088
Cash flows from investing activities:	'	'
Capital additions	-5,586	-3,399
Acquisition, net of cash acquired	-16,280	'
Change in short-term investments	-2	3
Net cash used for investing activities	-21,868	-3,396
Cash flows from financing activities:	'	'
Cash dividends	-4,726	-4,199
Proceeds from bank borrowings	18,000	'
Payments to bank for borrowings	-4,333	-7,000
Net cash provided by (used for) financing activities	8,941	-11,199
Effect of exchange rate changes on cash	-735	239
Net (decrease) increase in cash and cash equivalents	-1,677	6,732
Cash and cash equivalents:	'	'
Beginning of period	31,123	20,119
End of period	$29,446	$26,851

Note_A_Basis_of_Presentation_o

Note A - Basis of Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2014
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	NOTE A - BASIS OF PRESENTATION OF FINANCIAL STATEMENTS
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by GAAP for complete financial statements. The consolidated financial statements include the accounts of The Gorman-Rupp Company (the “Company” or “Gorman-Rupp”) and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management of the Company, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2014 are not necessarily indicative of results that may be expected for the year ending December 31, 2014. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, from which related information herein has been derived.

Note_B_Recently_Issued_Account

Note B - Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	NOTE B – RECENTLY ISSUED ACCOUNTING STANDARDS
	In May 2014, the Financial Accounting Standards Board issued ASU 2014-09, "Revenue from Contracts with Customers," which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows. The Company does not expect the adoption of ASU 2014-09 will have a material impact on its consolidated financial statements.

Note_C_Inventories

Note C - Inventories	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	NOTE C - INVENTORIES
	Inventories are stated at the lower of cost or market. The costs for approximately 72% of inventories at June 30, 2014 and 76% of inventories at December 31, 2013 are determined using the last-in, first-out (LIFO) method, with the remainder determined using the first-in, first-out (FIFO) method applied on a consistent basis. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimate of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory valuation.
	The major components of inventories are as follows (net of LIFO reserves of $57.4 million and $55.3 million at June 30, 2014 and December 31, 2013, respectively):
	(Thousands of dollars)	June 30,		December 31,
		2014		2013
	Raw materials and in-process	$	18,498	$	26,877
	Finished parts		42,069		46,491
	Finished products		27,809		16,578
	Total inventories	$	88,376	$	89,946

Note_D_Product_Warranties

Note D - Product Warranties	6 Months Ended
	Jun. 30, 2014
Product Warranties Disclosures [Abstract]	'
Product Warranty Disclosure [Text Block]	'
	NOTE D - PRODUCT WARRANTIES
	A liability is established for estimated future warranty and service claims based on historical claims experience and specific product failures. The Company expenses warranty costs directly to cost of products sold. Changes in the Company’s product warranty liability are:
	(Thousands of dollars)	June 30,
		2014			2013
	Balance at beginning of year	$	1,170		$	1,133
	Provision		811			676
	Claims		(862	)		(644	)
	Balance at end of period	$	1,119		$	1,165

Note_E_Pension_and_Other_Postr

Note E - Pension and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	NOTE E - PENSION AND OTHER POSTRETIREMENT BENEFITS
	The Company sponsors a defined benefit pension plan (“Plan”) covering certain domestic employees. Benefits are based on each covered employee’s years of service and compensation. The Plan is funded in conformity with the funding requirements of applicable U.S. regulations. The Plan was closed to new participants effective January 1, 2008. Employees hired after this date, in eligible locations, participate in an enhanced 401(k) plan instead of the defined benefit pension plan. Employees hired prior to this date continue to accrue benefits.
	Additionally, the Company sponsors defined contribution pension plans made available to all domestic and Canadian employees.
	The Company also sponsors a non-contributory defined benefit health care plan that provides health benefits to certain domestic and Canadian retirees and their spouses. The Company funds the cost of these benefits as incurred.
	The following tables present the components of net periodic benefit cost:
		Pension Benefits						Postretirement Benefits
	(Thousands of dollars)	Three Months Ended June 30,						Three Months Ended June 30,
		2014			2013			2014			2013
	Service cost	$	726		$	811		$	226		$	289
	Interest cost		728			697			212			181
	Expected return on plan assets		(1,170	)		(1,306	)		-			-
	Recognized actuarial loss (gain)		457			532			(380	)		(180	)
	Settlement loss		-			1,601			-			-
	Net periodic benefit cost	$	741		$	2,335		$	58		$	290
		Pension Benefits						Postretirement Benefits
	(Thousands of dollars)	Six Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Service cost	$	1,452		$	1,660		$	453		$	577
	Interest cost		1,448			1,363			424			363
	Expected return on plan assets		(2,378	)		(2,599	)		-			-
	Recognized actuarial loss (gain)		915			1,144			(577	)		(361	)
	Settlement loss		-			2,987			-			-
	Net periodic benefit cost	$	1,437		$	4,555		$	300		$	579

Note_F_Accumulated_Other_Compr

Note F - Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Loss [Abstract]	'
Accumulated Other Comprehensive Loss [Text Block]	'
	NOTE F – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	The following table summarizes reclassifications out of accumulated other comprehensive income (loss):
	(Thousands of dollars)		Three Months Ended June 30,						Six Months Ended June 30,
			2014			2013			2014			2013
	Pension and other postretirement benefits:
	Recognized actuarial loss (a)		$	77		$	352		$	338		$	783
	Settlement loss (b)			-			1,058			-			1,974
	Settlement loss (c)			-			543			-			1,013
	Total before income tax			77			1,953			338			3,770
	Income tax			(40	)		(584	)		(127	)		(1,192	)
	Net of income tax		$	37		$	1,369		$	211		$	2,578
	(a)	The recognized actuarial loss is included in the computation of net periodic benefit cost. See Note D for additional details.
	(b)	This portion of the settlement loss is included in Cost of products sold on the Statements of Income.
	(c)	This portion of the settlement loss in included in Selling, general & administrative expenses on the Statements of Income.
	The following tables summarize changes in accumulated balances for each component of other comprehensive income (loss):
	(Thousands of dollars)		Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
	Balance at January 1, 2014		$	(1,062	)	$	(7,399	)	$	(8,461	)
	Current period credit (charge)			(149	)		338			187
	Income tax expense			-			(127	)		(127	)
	Balance at June 30, 2014		$	(1,211	)	$	(7,188	)	$	(8,399	)
	(Thousands of dollars)		Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
	Balance at January 1, 2013		$	319		$	(16,601	)	$	(16,282	)
	Current period credit (charge)			(1,558	)		3,770			2,212
	Income tax expense			-			(1,192	)		(1,192	)
	Balance at June 30, 2013		$	(1,239	)	$	(14,023	)	$	(15,262	)

Note_G_Acquisition

Note G - Acquisition	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	NOTE G – ACQUISITION
	In June 2014, the Company’s wholly-owned subsidiary, National Pump Company, acquired substantially all of the assets and certain liabilities of Bayou City Pump, Inc. (“BCP”). Founded in 1973, BCP is a leading manufacturer of and service provider for highly-reliable and energy-efficient vertical turbine pumping systems primarily for the inland and coastal marine liquid petroleum and chemical transportation market. BCP has steadily expanded its product designs and service capabilities in recent years to become a significant market share provider in North American marine transportation. BCP also has developed and manufactures a specialty sludge pumping system for use in a variety of industrial applications. During 2013, BCP had approximately $16 million in revenue from sales of its products and services through its Houston, Texas headquarters and its service facility location in Baton Rouge, Louisiana. BCP's strong customer relationships and long history will help expand sales in targeted niche markets complementary to National Pump Company's significant and growing vertical turbine products leadership position. In addition, its Houston, Texas base will provide additional capacity and machining capabilities in combination with National Pump's existing location acquired late in 2012, which together will assist The Gorman-Rupp Company in expanding its growing Gulf Coast operations.
	The results of operations of the acquired business have been included in Gorman-Rupp’s consolidated results since the effective date of the transaction. The company financed the all-cash acquisition through a short-term unsecured bank loan of $18.0 million. Supplemental pro forma information has not been provided as the acquisition did not have a material impact on the Company’s consolidated results of operations.

Note_C_Inventories_Tables

Note C - Inventories (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	(Thousands of dollars)	June 30,		December 31,
		2014		2013
	Raw materials and in-process	$	18,498	$	26,877
	Finished parts		42,069		46,491
	Finished products		27,809		16,578
	Total inventories	$	88,376	$	89,946

Note_D_Product_Warranties_Tabl

Note D - Product Warranties (Tables)	6 Months Ended
	Jun. 30, 2014
Product Warranties Disclosures [Abstract]	'
Schedule of Product Warranty Liability [Table Text Block]	'
	(Thousands of dollars)	June 30,
		2014			2013
	Balance at beginning of year	$	1,170		$	1,133
	Provision		811			676
	Claims		(862	)		(644	)
	Balance at end of period	$	1,119		$	1,165

Note_E_Pension_and_Other_Postr1

Note E - Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Schedule of Costs of Retirement Plans [Table Text Block]	'
		Pension Benefits						Postretirement Benefits
	(Thousands of dollars)	Three Months Ended June 30,						Three Months Ended June 30,
		2014			2013			2014			2013
	Service cost	$	726		$	811		$	226		$	289
	Interest cost		728			697			212			181
	Expected return on plan assets		(1,170	)		(1,306	)		-			-
	Recognized actuarial loss (gain)		457			532			(380	)		(180	)
	Settlement loss		-			1,601			-			-
	Net periodic benefit cost	$	741		$	2,335		$	58		$	290
		Pension Benefits						Postretirement Benefits
	(Thousands of dollars)	Six Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Service cost	$	1,452		$	1,660		$	453		$	577
	Interest cost		1,448			1,363			424			363
	Expected return on plan assets		(2,378	)		(2,599	)		-			-
	Recognized actuarial loss (gain)		915			1,144			(577	)		(361	)
	Settlement loss		-			2,987			-			-
	Net periodic benefit cost	$	1,437		$	4,555		$	300		$	579

Note_F_Accumulated_Other_Compr1

Note F - Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Loss [Abstract]	'
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	'
	(Thousands of dollars)	Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Pension and other postretirement benefits:
	Recognized actuarial loss (a)	$	77		$	352		$	338		$	783
	Settlement loss (b)		-			1,058			-			1,974
	Settlement loss (c)		-			543			-			1,013
	Total before income tax		77			1,953			338			3,770
	Income tax		(40	)		(584	)		(127	)		(1,192	)
	Net of income tax	$	37		$	1,369		$	211		$	2,578
Comprehensive Income (Loss) [Table Text Block]	'
	(Thousands of dollars)	Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
	Balance at January 1, 2014	$	(1,062	)	$	(7,399	)	$	(8,461	)
	Current period credit (charge)		(149	)		338			187
	Income tax expense		-			(127	)		(127	)
	Balance at June 30, 2014	$	(1,211	)	$	(7,188	)	$	(8,399	)
	(Thousands of dollars)	Currency Translation Adjustments			Pension and Other Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
	Balance at January 1, 2013	$	319		$	(16,601	)	$	(16,282	)
	Current period credit (charge)		(1,558	)		3,770			2,212
	Income tax expense		-			(1,192	)		(1,192	)
	Balance at June 30, 2013	$	(1,239	)	$	(14,023	)	$	(15,262	)

Note_C_Inventories_Details

Note C - Inventories (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Percentage of LIFO Inventory	72.00%	76.00%
Inventory, LIFO Reserve	$57.40	$55.30

Note_C_Inventories_Details_Com

Note C - Inventories (Details) - Components of Inventories (Net of LIFO Reserves) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Components of Inventories (Net of LIFO Reserves) [Abstract]	'	'
Raw materials and in-process	$18,498	$26,877
Finished parts	42,069	46,491
Finished products	27,809	16,578
Total inventories	$88,376	$89,946

Note_D_Product_Warranties_Deta

Note D - Product Warranties (Details) - Product Warranties (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Product Warranties [Abstract]	'	'
Balance at beginning of year	$1,170	$1,133
Provision	811	676
Claims	-862	-644
Balance at end of period	$1,119	$1,165

Note_E_Pension_and_Other_Postr2

Note E - Pension and Other Postretirement Benefits (Details) - Net Periodic Pension Benefit Cost (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Plan [Member]	'	'	'	'
Note E - Pension and Other Postretirement Benefits (Details) - Net Periodic Pension Benefit Cost [Line Items]	'	'	'	'
Service cost	$726	$811	$1,452	$1,660
Interest cost	728	697	1,448	1,363
Expected return on plan assets	-1,170	-1,306	-2,378	-2,599
Recognized actuarial loss (gain)	457	532	915	1,144
Settlement loss	'	1,601	'	2,987
Net periodic benefit cost	741	2,335	1,437	4,555
Postretirement Health Coverage [Member]	'	'	'	'
Note E - Pension and Other Postretirement Benefits (Details) - Net Periodic Pension Benefit Cost [Line Items]	'	'	'	'
Service cost	226	289	453	577
Interest cost	212	181	424	363
Recognized actuarial loss (gain)	-380	-180	-577	-361
Net periodic benefit cost	$58	$290	$300	$579

Note_F_Accumulated_Other_Compr2

Note F - Accumulated Other Comprehensive Income (Loss) (Details) - Reclassifications out of Accumulated Other Comprehensive Loss (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]	'		'		'		'
Settlement loss (b)	($82,824)		($79,934)		($165,334)		($151,167)
Settlement loss (c)	-13,483		-12,964		-26,344		-25,931
Total before income tax	13,228		13,496		28,060		21,723
Income tax	-4,368		-4,328		-9,246		-6,737
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member]	'		'		'		'
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]	'		'		'		'
Recognized actuarial loss (a)	77	[1]	352	[1]	338	[1]	783	[1]
Settlement loss (b)	'	[2]	1,058	[2]	'	[2]	1,974	[2]
Settlement loss (c)	'	[3]	543	[3]	'	[3]	1,013	[3]
Total before income tax	77		1,953		338		3,770
Income tax	-40		-584		-127		-1,192
Net of income tax	$37		$1,369		$211		$2,578
[1]	The recognized actuarial loss is included in the computation of net periodic benefit cost. See Note D for additional details.
[2]	This portion of the settlement loss is included in Cost of products sold on the Statements of Income.
[3]	This portion of the settlement loss in included in Selling, general & administrative expenses on the Statements of Income.

Note_F_Accumulated_Other_Compr3

Note F - Accumulated Other Comprehensive Income (Loss) (Details) - Components of Accumulated Other Comprehensive Loss as Reported in the Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified			Currency Translation Adjustments [Member]	Currency Translation Adjustments [Member]	Pension And OPEB Adjustments [Member]	Pension And OPEB Adjustments [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Note F - Accumulated Other Comprehensive Income (Loss) (Details) - Components of Accumulated Other Comprehensive Loss as Reported in the Consolidated Balance Sheets [Line Items]	'	'	'	'	'	'	'	'
Balance	($8,399)	($8,461)	($1,062)	$319	($7,399)	($16,601)	($8,461)	($16,282)
Current period credit (charge)	'	'	-149	-1,558	338	3,770	187	2,212
Income tax benefit (charge)	'	'	'	'	-127	-1,192	-127	-1,192
Balance	($8,399)	($8,461)	($1,211)	($1,239)	($7,188)	($14,023)	($8,399)	($15,262)

Note_G_Acquisition_Details

Note G - Acquisition (Details) (Bayou City Pump, Inc. [Member], USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Loans Payable [Member]
Note G - Acquisition (Details) [Line Items]	'	'
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period	'	$16
Debt Instrument, Face Amount	$18	'