Distribution Solutions (DSGR) 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	LAWSON PRODUCTS INC/NEW/DE/
Entity Central Index Key	703,604
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	8,771,120	8,771,120

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 10,068	$ 10,765
Restricted cash	800	800
Accounts receivable, less allowance for doubtful accounts	31,012	27,231
Inventories, net	43,800	44,095
Miscellaneous receivables and prepaid expenses	4,281	3,667
Total current assets	89,961	86,558
Property, plant and equipment, net	34,008	35,487
Cash value of life insurance	8,475	10,245
Deferred income taxes	51	51
Other assets	2,008	753
Total assets	134,503	133,094
Line of Credit, Current	2,230	925
Current liabilities:
Accounts payable	10,800	9,370
Accrued expenses and other liabilities	22,829	26,048
Total current liabilities	35,859	36,343
Noncurrent liabilities and deferred credits:
Security bonus plan	14,459	14,641
Financing lease obligation	8,310	8,539
Deferred compensation	4,390	4,626
Deferred rent liability	3,925	3,912
Other liabilities	4,043	3,769
Total liabilities	70,986	71,830
Stockholders' equity:
Authorized - 500,000 shares, Issued and outstanding — None	0	0
Authorized - 35,000,000 shares Issued - 8,796,264 shares Outstanding - 8,771,120 shares	8,796	8,796
Capital in excess of par value	10,156	9,877
Retained earnings	44,589	43,572
Treasury stock – 25,144 shares	(515)	(515)
Accumulated other comprehensive income	491	(466)
Stockholders’ equity	63,517	61,264
Total liabilities and stockholders’ equity	$ 134,503	$ 133,094

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	8,796,264	8,796,264
Common stock, shares outstanding	8,771,120	8,771,120
Treasury Stock, Shares	25,144	25,144

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 69,711	$ 69,904
Cost of goods sold	27,252	27,021
Gross profit	42,459	42,883
Operating expenses:
Selling expenses	22,753	24,401
General and administrative expenses	18,537	19,429
Operating expenses	41,290	43,830
Operating income (loss)	1,169	(947)
Interest expense	(166)	(136)
Other income (expenses), net	123	(233)
Income (loss) before income taxes	1,126	(1,316)
Income tax expense	$ 109	$ 55
Earnings Per Share, Basic	$ 0.12	$ (0.16)
Earnings Per Share, Diluted	$ 0.11	$ (0.16)
Diluted income (loss) per share of common stock:
Weighted Average Number of Shares Outstanding, Basic	8,771	8,706
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	131	0
Weighted Average Number of Shares Outstanding, Diluted	8,902	8,706
Comprehensive income (loss)
Net Income (Loss) Attributable to Parent	$ 1,017	$ (1,371)
Adjustment for foreign currency translation	957	(519)
Net comprehensive income (loss)	$ 1,974	$ (1,890)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net income (loss)	$ 1,017	$ (1,371)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,187	2,096
Share-based Compensation	(1,217)	(747)
Changes in operating assets and liabilities:
Accounts receivable	(3,697)	(1,994)
Inventories	611	(68)
Prepaid expenses and other assets	1,192	1,137
Accounts payable and other liabilities	(1,190)	(1,100)
Other	134	151
Net cash used in operating activities of continuing operations	(963)	(1,896)
Investing activities:
Additions to property, plant and equipment	(519)	(352)
Proceeds from sale of property and equipment	0	3
Business acquisition	(1,250)	0
Net cash used in investing activities	(1,769)	(349)
Financing activities:
Net proceeds on revolving line of credit	1,305	0
Net cash provided by financing activities	1,305	0
Discontinued operations:
Effect of Exchange Rate on Cash and Cash Equivalents	730	28
Decrease in cash and cash equivalents	(697)	(2,217)
Cash and cash equivalents at beginning of period	10,765	4,207
Cash and cash equivalents at end of period	$ 10,068	$ 1,990

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Lawson Products, Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not contain all disclosures required by generally accepted accounting principles. Reference should be made to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . In the opinion of the Company, all normal recurring adjustments have been made that are necessary to present fairly the results of operations for the interim periods. Operating results for the three month periods ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . Certain reclassifications have been made to the Condensed Consolidated Financial Statements for March 31, 2015 to conform to current period presentation. The Company operates in one reportable segment as a Maintenance, Repair and Operations ("MRO") distributor of products and services to the industrial, commercial, institutional, and governmental maintenance, repair and operations marketplace. For the three months ended March 31, 2016 and 2015 , stock options to purchase 40,000 of the Company's common stock were excluded from the computation of diluted earnings per share because they were anti-dilutive. Additionally, for the three months ended March 31, 2015, the effect of approximately 184,000 common shares from outstanding restricted stock awards, market stock units and stock options were anti-dilutive and excluded from the computation of diluted earnings per share because of the net loss recorded for the period . There have been no material changes in the Company's significant accounting policies during the three months ended March 31, 2016 as compared to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2015 .

Restricted Cash Restricted Cash

Restricted Cash Restricted Cash	3 Months Ended
	Mar. 31, 2016
Restricted Cash [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	Restricted Cash The Company has agreed to maintain $0.8 million in a money market account as collateral for an outside party that is providing certain commercial card processing services for the Company. The Company is restricted from withdrawing this balance without the prior consent of the outside party during the term of the agreement.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories, net Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows: (Dollars in thousands) March 31, 2016 December 31, 2015 Inventories, gross $ 49,504 $ 49,615 Reserve for obsolete and excess inventory (5,704 ) (5,520 ) Inventories, net $ 43,800 $ 44,095

Acquisition and Goodwill (Notes

Acquisition and Goodwill (Notes)	3 Months Ended
	Mar. 31, 2016
Goodwill [Line Items]
Goodwill Disclosure [Text Block]	Acquisition and Goodwill In the first quarter of 2016, the Company acquired the assets of Perfect Products Company of Michigan, an auto parts distributor for approximately $1.3 million in cash and $30 thousand in contingent consideration. The transaction resulted in additional goodwill which is included in the table below: (Dollars in thousands) Goodwill Three Months Ended March 31, 2016 Beginning balance $ 319 Acquisition 1,254 Impact of foreign exchange 20 Ending balance $ 1,593 Goodwill is included as a component of other assets in the condensed consolidated financial statements. Contingent consideration of $30 thousand was not reflected in the condensed consolidated statement of cash flows.

Loan Agreement

Loan Agreement	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Loan Agreement	In 2012, the Company entered into a Loan and Security Agreement (“Loan Agreement”) which expires in August 2017. Due to the lock box arrangement and a subjective acceleration clause contained in the borrowing agreement, any outstanding borrowings under the revolving line of credit are classified as a current liability. The Loan Agreement consists of a $40.0 million revolving line of credit facility, which includes a $10.0 million sub-facility for letters of credit. In December 2013, the Company entered into a Second Amendment to Loan and Security Agreement ("Second Amendment") which revised certain terms of the original Loan Agreement. Credit available under the Loan Agreement is based upon: a) 80% of the face amount of the Company’s eligible accounts receivable, generally less than 60 days past due, and b) the lesser of 50% of the lower of cost or market value of the Company’s eligible inventory, generally inventory expected to be sold within 18 months , or $20.0 million . The applicable interest rates for borrowings are at the Prime rate or, if the Company elects, the LIBOR rate plus 1.50% to 1.85% based on the Company’s debt to EBITDA ratio. The Loan Agreement is secured by a first priority perfected security interest in substantially all existing assets of the Company. Dividends are restricted to amounts not to exceed $7.0 million annually. At March 31, 2016 , the Company had $2.2 million of borrowings under its revolving line of credit facility and additional borrowing availability of $31.4 million . The Company paid interest of $0.2 million and $0.1 million for the three months ended March 31, 2016 and 2015 , respectively. The weighted average interest rate was 3.5% for the three months ended March 31, 2016 . In addition to other customary representations, warranties and covenants, we are required to meet a minimum trailing twelve month EBITDA to fixed charges ratio, as defined in the Loan Agreement, and a minimum quarterly tangible net worth level as defined in the Second Amendment. On March 31, 2016 , we were in compliance with all financial covenants as detailed below: Quarterly Financial Covenants Requirement Actual EBITDA to fixed charges ratio 1.10 : 1.00 3.25 : 1.00 Minimum tangible net worth $45.0 million $54.6 million

Reserve for Severance

Reserve for Severance	3 Months Ended
	Mar. 31, 2016
Severance Reserve [Abstract]
Reserve for Severance	Severance Reserve Changes in the Company’s reserve for severance as of March 31, 2016 and 2015 were as follows: (Dollars in thousands) Three Months Ended March 31, 2016 2015 Balance at beginning of period $ 697 $ 311 Charged to earnings 204 571 Payments (380 ) (216 ) Balance at end of period $ 521 $ 666

Stock Based Compensation Stock

Stock Based Compensation Stock Based Compensation (Notes)	3 Months Ended
	Mar. 31, 2016
Stock Based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation The Company recorded a benefit for stock-based compensation of $1.2 million and $0.5 million in the first three months of 2016 and 2015, respectively, as a portion of stock-based compensation is related to the market value of the Company's common stock which declined during both periods. A summary of stock-based awards issued during the three months ended March 31, 2016 follows: Stock Performance Rights ("SPRs") The Company issued 53,503 SPRs to key employees with an exercise price of $18.98 per share that cliff vest on December 31, 2018 and have a termination date of December 31, 2023. Market Stock Units ("MSUs") The Company issued 74,866 MSUs to key employees that cliff vest on December 31, 2018. MSU's are exchangeable for the Company's common shares at the end of the vesting period. The number of shares of common stock that will be issued upon vesting, ranging from zero to 112,300 , will be determined based upon the trailing sixty-day average closing price of the Company's common stock on December 31, 2018.

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Primarily due to the cumulative losses that the Company has incurred over the past three years, the Company has determined that there is insufficient positive evidence to conclude that it is more likely than not that it will be able to utilize its deferred tax assets to offset future taxable income. Therefore, substantially all deferred tax assets are currently subject to a tax valuation allowance. However, sufficient evidence may become available in future periods regarding the utilization of deferred tax assets that would lead to the reduction of all or a portion of the valuation allowance resulting in a decrease to income tax expense for the period in which the reduction is recorded. Although the Company is in this full tax valuation allowance position, a tax expense of $0.1 million for both the three months ended March 31, 2016 and 2015 was primarily due to state taxes and reserves for uncertain tax positions. The Company and its subsidiaries are subject to U.S. Federal income tax, as well as income tax of multiple state and foreign jurisdictions. As of March 31, 2016 , the Company is subject to U.S. Federal income tax examinations for the years 2012 through 2014 and income tax examinations from various other jurisdictions for the years 2006 through 2014. The Company is also subject to an examination by the Canada Revenue Authority ("CRA") for the years 2006 through 2010. The CRA examination was completed during May 2013 and resulted in proposed adjustments which amount to $1.3 million of additional tax for the 2008 and 2009 tax years. The Company did not agree with these adjustments and filed a request with Competent Authority programs in both the U.S. and Canada in October 2013. The Competent Authority program assists taxpayers with respect to matters covered in the mutual agreement procedure provisions of tax treaties. In the fourth quarter of 2015, Competent Authority completed their review and communicated to the Company that they proposed to assess a tax on the 2009 tax year only.A formal letter of disposition from Competent Authority is expected to be received in 2016. The Company plans to accept the proposal and recorded an expense of approximately $0.8 million in Canada in the fourth quarter of 2015 and expects to realize a related benefit of $0.5 million in the U.S. Earnings from the Company’s foreign subsidiary are considered to be indefinitely reinvested. A distribution of these non-U.S. earnings in the form of dividends or otherwise would subject the Company to both U.S. Federal and state income taxes, as adjusted for foreign tax credits. During the first quarter of 2016, as the result of a small acquisition, the Company recorded $1.3 million of tax deductible goodwill that may result in a tax benefit in future periods.

Contingent Liability Contingent

Contingent Liability Contingent Liability (Notes)	3 Months Ended
	Mar. 31, 2016
Contingent Liability [Abstract]
Legal Matters and Contingencies [Text Block]	Contingent Liabilities In 2012, the Company identified that a site it owns in Decatur, Alabama, contains hazardous substances in the soil and groundwater as a result of historical operations prior to the Company's ownership. The Company retained an environmental consulting firm to further investigate the contamination including the measurement and monitoring of the site. In August 2013, the site was enrolled in Alabama's voluntary cleanup program. On October 30, 2014, the Company received estimates from its environmental consulting firm with three potential remediation solutions. The estimates included a range of viable remedial approaches. The first solution included limited excavation and removal of the contaminated soil along with monitoring for a period up to 10 years. The second solution included the first solution plus the installation of a groundwater extraction system. The third scenario included the first and second solutions plus treatment injections to reduce the degradation time. The estimated expenditures over a 10 -year period under the three scenarios ranged from $0.3 million to $1.4 million , of which up to $0.3 million may be capitalized. As the Company has determined that a loss was probable, however no scenario was more likely than the other at that time, a liability in the amount of $0.3 million was established in 2014. During 2015, after further evidence had been collected and analyzed, the Company concluded that it was probable that future remediation would be required, and accordingly accrued an additional $0.9 million for the estimated costs. This estimate is based on the information developed to date and as the remediation efforts proceed, additional information may impact the final cost. As of March 31, 2016 , agreement with Alabama’s voluntary cleanup program on viable treatment of the property has not yet been reached and the Company continues to evaluate potential remediation alternatives that could impact the ultimate cost of remediation. As of March 31, 2016 , approximately $1.2 million was accrued for remediation in other long-term liabilities on the accompanying consolidated balance sheet.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Components of inventories	Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows: (Dollars in thousands) March 31, 2016 December 31, 2015 Inventories, gross $ 49,504 $ 49,615 Reserve for obsolete and excess inventory (5,704 ) (5,520 ) Inventories, net $ 43,800 $ 44,095

Acquisition and Goodwill (Table

Acquisition and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill [Line Items]
Schedule of Goodwill [Table Text Block]	In the first quarter of 2016, the Company acquired the assets of Perfect Products Company of Michigan, an auto parts distributor for approximately $1.3 million in cash and $30 thousand in contingent consideration. The transaction resulted in additional goodwill which is included in the table below: (Dollars in thousands) Goodwill Three Months Ended March 31, 2016 Beginning balance $ 319 Acquisition 1,254 Impact of foreign exchange 20 Ending balance $ 1,593

Loan Agreement (Tables)

Loan Agreement (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Quarterly Financial Covenants [Table Text Block]	In addition to other customary representations, warranties and covenants, we are required to meet a minimum trailing twelve month EBITDA to fixed charges ratio, as defined in the Loan Agreement, and a minimum quarterly tangible net worth level as defined in the Second Amendment. On March 31, 2016 , we were in compliance with all financial covenants as detailed below: Quarterly Financial Covenants Requirement Actual EBITDA to fixed charges ratio 1.10 : 1.00 3.25 : 1.00 Minimum tangible net worth $45.0 million $54.6 million

Reserve for Severance (Tables)

Reserve for Severance (Tables)	3 Months Ended
	Mar. 31, 2016
Severance Reserve [Abstract]
Changes in the Company's reserve for severance and related payments	Changes in the Company’s reserve for severance as of March 31, 2016 and 2015 were as follows: (Dollars in thousands) Three Months Ended March 31, 2016 2015 Balance at beginning of period $ 697 $ 311 Charged to earnings 204 571 Payments (380 ) (216 ) Balance at end of period $ 521 $ 666

Basis of Presentation and Sum19

Basis of Presentation and Summary of Significant Accounting Policies (Details) - Stock Compensation Plan [Member]	3 Months Ended
	Mar. 31, 2016shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	40,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	184,000

Restricted Cash Restricted Ca20

Restricted Cash Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Restricted Cash [Abstract]
Restricted cash	$ 800	$ 800

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Components of inventories
Inventory, Gross	$ 49,504	$ 49,615
Inventory Valuation Reserves	5,704	5,520
Inventories, net	$ 43,800	$ 44,095

Acquisition and Goodwill (Detai

Acquisition and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill [Line Items]
Payments to Acquire Businesses, Gross	$ 1,250	$ 0
Goodwill	1,593		$ 319
Business Combination, Contingent Consideration, Liability	30
Payments to Acquire Businesses, Gross	1,254
Goodwill, Translation Adjustments	$ 20

Loan Agreement Covenant (Detail

Loan Agreement Covenant (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Actual Value [Member]
Loan Agreement [Line Items]
MinTangibleNetWorth	$ 54,577
Required Minimum Value [Member]
Loan Agreement [Line Items]
MinTangibleNetWorth	$ 45,000
Maximum [Member] | Actual Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	3.25
Maximum [Member] | Required Minimum Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1.10
Minimum [Member] | Actual Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1
Minimum [Member] | Required Minimum Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1

Loan Agreement (Details)

Loan Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Credit Facility (Textual) [Abstract]
Eligible accounts receivables percentage	80.00%
Eligible accounts receivables past due days	60 days
Eligible inventory percentage	50.00%
Eligible inventory expected to be sold period	18 months
Maximum borrowing amount based on inventory	$ 20,000
Line of Credit, Current	2,230		$ 925
Credit Facility, remaining borrowing capacity	31,400
Interest Paid	$ 200	$ 100
Weighted average interest rate	3.50%
Maximum
Credit Facility (Textual) [Abstract]
Spread on LIBOR	1.85%
Restricted Dividends	$ 7,000
Minimum
Credit Facility (Textual) [Abstract]
Spread on LIBOR	1.50%
Revolving Credit Facility [Member]
Credit Facility (Textual) [Abstract]
Credit facility, borrowing capacity	$ 40,000
Letter of Credit [Member]
Credit Facility (Textual) [Abstract]
Credit facility, borrowing capacity	$ 10,000

Reserve for Severance Activity

Reserve for Severance Activity in reserve (Details) - Employee Severance [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reserve for severance and related payments
Balance at beginning of period	$ 697	$ 311
Charged to earnings	204	571
Cash paid	(380)	(216)
Balance at end of the period	$ 521	$ 666

Stock Based Compensation Stoc26

Stock Based Compensation Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Based Compensation
Share-based Compensation	$ (1,217)	$ (541)
Minimum [Member]
Stock Based Compensation
Equity Share Payout Range	0
Maximum [Member]
Stock Based Compensation
Equity Share Payout Range	112,300
MSU [Member]
Stock Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	74,866
Share-based Compensation Award, Tranche Two [Member]
Stock Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	53,503
Share Based Compensation Non Option Equity Instruments Granted Weighted Average Exercise Price	$ 18.98

Income Tax Income Tax (Details)

Income Tax Income Tax (Details) - USD ($) $ in Thousands	May. 02, 2013	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax [Abstract]
Income Tax Expense (Benefit)		$ 109	$ 55
Proposed Tax Adjustment Including Penalties	$ 1,300
Goodwill		$ 1,593		$ 319

EPS Calc (Details)

EPS Calc (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 1,017	$ (1,371)

Contingent Liability Continge29

Contingent Liability Contingent Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Environmental Remediation Term	10 years
Environmental Exit Costs, Reasonably Possible Additional Losses, Low Estimate	$ 0.3
Environmental Exit Costs, Reasonably Possible Additional Losses, High Estimate	1.4
Capitalizable Environmental Exit Costs	$ 0.3
Environmental Exit Costs, Liability for Remediation		$ 0.3

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 1,250	$ 0