Park-Ohio (PKOH) 10-Q 11 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
Document and Entity Information [Abstract]
Entity Registrant Name	PARK OHIO HOLDINGS CORP
Entity Central Index Key	76282
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,494,971

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Current assets:
Cash and cash equivalents	$46.70	$58
Accounts receivable, less allowances for doubtful accounts of $3.8 million at March 31, 2015 and $4.1 million at December 31, 2014	218	208
Inventories, net	249.5	238.4
Deferred tax assets	28.9	28.9
Unbilled contract revenue	31.9	26.8
Other current assets	18.6	22.1
Total current assets	593.6	582.2
Property, plant and equipment, net	144.3	141.1
Goodwill	86.9	89.5
Intangible assets, net	85.2	88.1
Other long-term assets	76.9	73.3
Total assets	986.9	974.2
Current liabilities:
Trade accounts payable	162.3	160.3
Accrued expenses and other	108	103.6
Total current liabilities	270.3	263.9
Long-term liabilities, less current portion:
Debt	435.2	434.4
Deferred tax liabilities	43.8	43.9
Other postretirement benefits and other long-term liabilities	40.8	40.1
Total long-term liabilities	519.8	518.4
Capital stock, par value $1 a share
Serial preferred stock: Authorized -- 632,470 shares: Issued and outstanding -- none	0	0
Common stock: Authorized -- 40,000,000 shares; Issued -- 14,528,821 shares in 2015 and 14,513,821 in 2014	14.5	14.5
Additional paid-in capital	91.4	89.8
Retained earnings	135.7	126.5
Treasury stock, at cost, 2,033,248 shares in 2015 and 2,014,692 shares in 2014	-32.3	-31.2
Accumulated other comprehensive loss	-19.1	-14
Total Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity	190.2	185.6
Noncontrolling interest	6.6	6.3
Total equity	196.8	191.9
Total liabilities and shareholders' equity	$986.90	$974.20

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$3.80	$4.10
Capital stock, par value (in dollars per share)	$1	$1
Serial preferred stock, shares authorized (in shares)	632,470	632,470
Serial preferred stock, shares issued (in shares)	0	0
Serial preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	14,528,821	14,513,821
Treasury stock, shares (in shares)	2,033,248	2,014,692

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net sales	$374.70	$317.80
Cost of sales	316.3	261.8
Gross profit	58.4	56
Selling, general and administrative expenses	34.1	33.8
Operating income	24.3	22.2
Interest expense	6.8	6.3
Income before income taxes	17.5	15.9
Income tax expense	6.4	5.6
Net income	11.1	10.3
Net income attributable to noncontrolling interest	-0.3	-0.2
Net income attributable to ParkOhio common shareholders	$10.80	$10.10
Earnings per common share attributable to ParkOhio common shareholders:
Basic (in dollars per share)	$0.89	$0.84
Diluted (in dollars per share)	$0.87	$0.82
Weighted-average shares used to compute earnings per share:
Basic (in shares)	12,165,884	12,023,453
Diluted (in shares)	12,423,458	12,331,020
Dividend per common share (in dollars per share)	$0.13	$0

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$11.10	$10.30
Other comprehensive (loss) income:
Foreign currency translation (loss)	-5.3	-0.4
Pension and postretirement benefit adjustments, net of tax	0.2	-0.1
Total other comprehensive (loss)	-5.1	-0.5
Total comprehensive income, net of tax	6	9.8
Comprehensive income attributable to noncontrolling interest	-0.3	-0.2
Comprehensive income attributable to ParkOhio common shareholders	$5.70	$9.60

Condensed_Consolidated_Stateme2

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]
In Millions, except Share data, unless otherwise specified
Beginning balance at Dec. 31, 2014	$191.90	$14.50	$89.80	$126.50	($31.20)	($14)	$6.30
Shares, Issued at Dec. 31, 2014		14,513,821
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	6			10.8		-5.1	0.3
Share-based compensation expense and award activity (in shares)		15,000
Share-based compensation expense and award activity	1.6		1.6
Dividends	-1.6			-1.6
Purchase of treasury stock (in shares)	18,556
Purchase of treasury stock (18,556 shares)	-1.1				-1.1
Ending balance at Mar. 31, 2015	$196.80	$14.50	$91.40	$135.70	($32.30)	($19.10)	$6.60
Shares, Issued at Mar. 31, 2015		14,528,821

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES
Net income	$11.10	$10.30
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7	5.3
Share-based compensation	1.6	1.3
Changes in operating assets and liabilities, excluding business acquisitions:
Accounts receivable	-12.8	-17.2
Inventories and other current assets	-15.8	-6.2
Accounts payable and accrued expenses	11.1	11.7
Other	-1.2	-0.4
Net cash provided by operating activities	1	4.8
INVESTING ACTIVITIES
Purchases of property, plant and equipment	-11.5	-3.1
Net cash used by investing activities	-11.5	-3.1
FINANCING ACTIVITIES
Proceeds from term loans and other debt	2.4	0
Payments on term loans and other debt	-0.1	-1.1
Proceeds from revolving credit facility, net	1.7	3.5
Dividends	-1.6	0
Purchase of treasury stock	-1.1	-0.8
Net cash provided by financing activities	1.3	1.6
Effect of exchange rate changes on cash	-2.1	0.5
(Decrease) increase in cash and cash equivalents	-11.3	3.8
Cash and cash equivalents at beginning of period	58	55.2
Cash and cash equivalents at end of period	46.7	59
Income taxes paid	1.3	1.4
Interest paid	$1.30	$1.10

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	The condensed consolidated financial statements include the accounts of Park-Ohio Holdings Corp. and its subsidiaries (collectively, “we”, “our” or the “Company”). All significant intercompany transactions have been eliminated in consolidation. Certain amounts in the prior years’ financial statements have been reclassified to conform to the current year presentation.
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements
	Accounting Pronouncements Adopted
	In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which raises the threshold for disposals to qualify as discontinued operations and requires new disclosures for discontinued operations and for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective prospectively for reporting periods beginning with the first quarter of 2015. The adoption had no effect on our consolidated financial statement as it only applies to future disposals.
	Recent Accounting Pronouncements Not Yet Adopted
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, however, in April 2015, the FASB proposed a one-year deferral of this standard with a new effective date of December 15, 2017. The ASU will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance.
	In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs." The amendment requires an entity to present debt issuance costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company is currently evaluating the impact of adopting this guidance.

Segments

Segments	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segments	Segments
	The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. Supply Technologies provides our customers with Total Supply Management™ services for a broad range of high-volume, specialty production components. Total Supply Management™ manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation, and includes such services as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing services and ongoing technical support. Assembly Components manufactures cast aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems, fuel filler and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck and marine equipment industries. Assembly Components also provides value-added services such as design and engineering, machining and assembly. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of high quality products engineered for specific customer applications.
	The Company primarily evaluates performance and allocates resources based on segment operating income as well as projected future performance. Segment operating income is defined as revenues less expenses identifiable to the product lines included within each segment. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs that are not attributable to the segments and net interest expense.
	Results by business segment were as follows:
		Three Months Ended
		March 31,
		2015			2014
		(In millions)
	Net sales:
	Supply Technologies	$	151.4		$	134.4
	Assembly Components	140.5			108.1
	Engineered Products	82.8			75.3
		$	374.7		$	317.8
	Income before income taxes:
	Supply Technologies	$	14.2		$	10.1
	Assembly Components	10.6			8.1
	Engineered Products	6.2			10.6
	Total segment operating income	31			28.8
	Corporate costs	(6.7		)	(6.6		)
	Interest expense	(6.8		)	(6.3		)
	Income before income taxes	$	17.5		$	15.9
		31-Mar-15			31-Dec-14
		(In millions)
	Identifiable assets:
	Supply Technologies	$	285.2		$	277.6
	Assembly Components	347.5			340.5
	Engineered Products	241.8			246.9
	General corporate	112.4			109.2
		$	986.9		$	974.2

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions
	The following table summarizes the Company's recent acquisitions:
	Description		Date of Transaction	Purchase			Acquired	Segment
				Consideration
				(In millions)
	Saet S.p.A		4-Dec-14	$	22.1		100% of equity	Engineered Products
		An Italian based leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee.
	Autoform Tool & Manufacturing		10-Oct-14	$	48.9		100% of equity	Assembly Components
		An Indiana supplier of high end pressure fuel lines used in Gasoline Direct Injection systems across a large number of engine platforms.
	Apollo Group Limited		10-Jun-14	$	6.5	*	100% of equity	Supply Technologies
		A U.K. supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide.
	* Purchase consideration is net of cash acquired.
	The acquisitions of Apollo and Autoform were accounted for under the acquisition method of accounting. The purchase price allocations were preliminary as of March 31, 2015. The Apollo purchase agreement provides for payment of contingent consideration of approximately $2.4 million based on achievement of certain EBITDA targets over two years. The fair value of the earn-out was approximately $1.1 million at the date of the acquisition for a total purchase consideration of $6.5 million and at March 31, 2015, the fair value of the earn-out was approximately $1.6 million. On the acquisition date, a liability was recognized for the estimate of the acquisition date fair value of the earn-out. Any change in the fair value of the earn-out subsequent to the acquisition date will be recognized in selling, general and administrative expenses. Management’s valuation of the fair value of tangible and intangible assets acquired and liabilities assumed are based on estimates and assumptions. The purchase price allocation relating to these acquisitions is subject to further adjustment until all pertinent information regarding finalization of the intangible assets and deferred income tax assets and liabilities for Apollo and Autoform are fully evaluated by the Company and independent valuations are complete. Revisions to these estimates as fair values are finalized will be reflected in the financial statements throughout the measurement period. Based on the preliminary purchase price allocation for these acquisitions, goodwill of $5.6 million was recorded.
	The acquisition of Saet was accounted for under the acquisition method of accounting. The entire purchase price allocation for Saet is preliminary. At March 31, 2015, the fair values of the assets acquired and liabilities assumed have been preliminarily estimated based on their carrying values and the excess consideration of $23.2 million has been preliminarily recorded as goodwill, pending finalization of the fair value. These preliminary estimates will be revised during the measurement period in 2015 as all pertinent information regarding finalization of the third-party valuations for inventories, intangible assets, goodwill, tangible assets, other liabilities and deferred income tax assets and liabilities acquired are fully evaluated by the Company.

Accounts_Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Accounts Receivable	Accounts Receivable
	We sell accounts receivable to reduce accounts receivable concentration risk and to provide additional financing capacity. The following table summarizes accounts receivable sold and the losses recorded on the sales of accounts receivable.
		Three Months Ended March 31,
		2015			2014
		(In millions)
	Accounts receivable sold	$	26.1		$	23
	Loss on sale of accounts receivable	$	(0.1	)	$	(0.1	)
	The loss on the sale of accounts receivable is recorded in selling, general and administrative expenses. These losses represent the implicit interest on the transaction.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	The components of inventory consist of the following:
		March 31, 2015		December 31, 2014
		(In millions)
	Finished goods	$	151	$	146
	Work in process	34.2		19.8
	Raw materials and supplies	64.3		72.6
	Inventories, net	$	249.5	$	238.4

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill
	The changes in the carrying amount of goodwill by segment for the periods ended March 31, 2015 and December 31, 2014 were as follows:
		Supply Technologies			Assembly Components			Engineered Products			Total
		(In millions)
	Balance at January 1, 2014	$	6.4		$	49		$	5		$	60.4
	Acquisitions	0.7			5			23.2			28.9
	Foreign currency translation	0.5			—			(0.3		)	0.2
	Balance at December 31, 2014	7.6			54			27.9			89.5
	Foreign currency translation	(0.4		)	—			(2.1		)	(2.5		)
	Acquisition adjustments	—			(0.1		)	—			(0.1		)
	Balance at March 31, 2015	$	7.2		$	53.9		$	25.8		$	86.9
	During the first quarter of 2015, we adjusted the preliminary goodwill recorded for Autoform primarily to reflect the adjustments to the determination of fair value of acquired intangible assets. The 2014 condensed consolidated financial statements have not been retroactively adjusted as these measurement period adjustments did not have a material impact on such statements.
	The increase in goodwill from January 1, 2014 is due to the acquisitions of Apollo, Autoform and Saet. The goodwill associated with the Apollo and Saet transactions is not deductible for income tax purposes.

Other_Intangible_Assets

Other Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Other Intangible Assets
	Information regarding other intangible assets as of March 31, 2015 and December 31, 2014 follows:
		March 31, 2015										December 31, 2014
		Weighted Average Useful Life		Acquisition Cost				Accumulated Amortization		Net		Acquisition Cost		Accumulated Amortization		Net
				(In millions)
	Non-contractual customer relationships	11.5 years		$	76.2			$	14.7	$	61.5	$	77.3	$	13.2	$	64.1
	Indefinite-lived tradenames	*		14				—		14		14		—		14
	Other	17.6 years		12.2				2.5		9.7		12.3		2.3		10
	Total			$	102.4			$	17.2	$	85.2	$	103.6	$	15.5	$	88.1
	* Not applicable, tradenames have an indefinite life.
	Information regarding amortization expense of other intangibles assets follows:
		Three Months Ended March 31,
		2015				2014
		(In millions)
	Amortization expense	$	1.7			$	1.1

Accrued_Warranty_Costs

Accrued Warranty Costs	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Accrued Warranty Costs	Accrued Warranty Costs
	The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance. The following table presents the changes in the Company’s product warranty liability for the three months ended March 31, 2015 and 2014:
		2015			2014
		(In millions)
	Balance at January 1,	$	6.9		$	5.4
	Claims paid	(1.2		)	(0.8		)
	Warranty expense, net	0.3			0.5
	Balance at March 31,	$	6		$	5.1

Financing_Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements
	Long-term debt consists of the following:
								Carrying Value at
		Issuance Date		Maturity Date		Interest Rate at		March 31, 2015		December 31, 2014
						31-Mar-15
								(In millions)
	Senior Notes	1-Apr-11		1-Apr-21		8.125	%	$	250	$	250
	Revolving credit	—		31-Jul-19		1.69	%	163.7		162
	Term loan	—		31-Jul-19		2.31	%	31.2		28.8
	Other	Various		Various		Various		2.9		3
	Total debt							447.8		443.8
	Less current maturities							12.6		9.4
	Total long-term debt, net of current portion							$	435.2	$	434.4
	On July 31, 2014, the Company entered into a sixth amendment and restatement of the credit agreement (the “Amended Credit Agreement”). The Amended Credit Agreement, among other things, increased the revolving credit facility to $230.0 million, provided a term loan for $16.1 million and extended the maturity date of the borrowings under the Amended Credit Agreement to July 31, 2019. The revolving credit facility includes a Canadian sub-limit of $15.0 million and a European sub-limit of $10.0 million (which may be increased to $25.0 million) for borrowings in those locations.
	The Amended Credit Agreement was further amended in accordance with Amendments No. 1, 2 and 3 to the Amended Credit Agreement, dated October 24, 2014, January 20, 2015 and March 12, 2015, respectively (the “Amendments”). The Amendments:
	•	increase the revolving credit facility from $230.0 million to $275.0 million;
	•	increase the inventory advance rate from 50% to 60%, reducing back to 50% on a pro-rata quarterly basis over 36 months commencing April 1, 2015;
	•	reload the term loan up to $35.0 million from $15.5 million, of which $31.2 million has been borrowed and is outstanding as of March 31, 2015;
	•	increase the Canadian sub-limit up to $25.0 million from $15.0 million;
	•	increase the European sub-limit up to $25.0 million from $10.0 million; and
	•	provide minor pricing adjustments including pricing the first $22.0 million drawn on the revolver at LIBOR + 3.50%, reducing automatically on a pro-rata quarterly basis over 36 months commencing April 1, 2015.
	At the Company’s election, domestic amounts borrowed under the revolving credit facility may be borrowed at either:
	•LIBOR plus 1.5% to 2.5%; or
	•the bank’s prime lending rate minus 0.25% to 1.25%.
	At the Company's election, amounts borrowed under the term loan may be borrowed at either:
	•LIBOR plus 2.0% to 3.0%; or
	•the bank’s prime lending rate minus 0.75% to plus 0.25%.
	The LIBOR-based interest rate is dependent on the Company’s debt service coverage ratio, as defined in the Amended Credit Agreement.
	Amounts borrowed under the Canadian revolving credit facility provided by the Amended Credit Agreement may be borrowed at either:
	•the Canadian deposit offered rate plus 1.5% to 2.5%;
	•the Canadian prime lending rate plus 0.0% to 1.0%; or
	•the US base rate plus 0.0% to 1.0%.
	Under the Amended Credit Agreement, a detailed borrowing base formula provides borrowing availability to the Company based on percentages of eligible accounts receivable and inventory. The term loan is amortized based on a seven-year schedule with the balance due at maturity. The Amended Credit Agreement also reduced the commitment fee for the revolving credit facility. Additionally, the Company has the option, pursuant to the Amended Credit Agreement, to increase the availability under the revolving credit facility by $50.0 million.
	The following table represents fair value information of the Company's Senior Notes, classified as Level 1, at March 31, 2015 and December 31, 2014. The fair value was estimated using quoted market prices.
		31-Mar-15			31-Dec-14
		(In millions)
	Carrying amount	$	250		$	250
	Fair value	$	267.5		$	266.3

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The Company’s tax provision for interim periods is determined using an estimate of its annual effective income tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates the estimated annual effective income tax rate, and if the estimated income tax rate changes, a cumulative adjustment is made.
	The effective tax rate for the first three months of 2015 and 2014 was 36.6% and 35.2%, respectively. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation
	A summary of stock option activity as of March 31, 2015 and changes during the first three months of 2015 is presented below:
		2015
		Number of Shares		Weighted Average		Weighted		Aggregate
				Exercise Price		Average		Intrinsic
						Remaining		Value
						Contractual
						Term
		(In whole shares)						(In millions)
	Outstanding - beginning of year	143,500		$	16.76
	Granted	—		—
	Exercised	—		—
	Canceled or expired	—		—
	Outstanding - end of period	143,500		$	16.76	1.5 years		$	5.2
	Options exercisable	143,500		$	16.76	1.5 years		$	5.2
	A summary of restricted share and performance share activity for the three months ended March 31, 2015 is as follows:
		2015
		Time-Based				Performance-Based
		Number of Shares		Weighted Average		Number of Shares			Weighted Average
				Grant Date					Grant Date
				Fair Value					Fair Value
		(In whole shares)				(In whole shares)
	Outstanding - beginning of year	344,932		$	33.55	28,000			$	20.3
	Granted	1,000		58.74		—			—
	Vested	(41,666	)	20.34		(14,000	)		20.3
	Canceled or expired	—		—		—			—
	Outstanding - end of period	304,266		$	35.37	14,000			$	20.3
	Total stock-based compensation expense included in selling, general and administrative expenses during the first three months of 2015 and 2014 was $1.6 million and $1.3 million, respectively. As of March 31, 2015, there was $8.3 million of unrecognized compensation cost related to non-vested stock-based compensation, which cost is expected to be recognized over a weighted average period of 1.9 years.

Commitments_Contingencies_and_

Commitments, Contingencies and Litigation Judgment	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Litigation Judgment	Commitments, Contingencies and Litigation Judgment
	The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. Although the Company cannot precisely predict the amount of any liability that may ultimately arise with respect to any of these matters, the Company records provisions when it considers the liability probable and reasonably estimable. Our provisions are based on historical experience and legal advice, reviewed quarterly and adjusted according to developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments about potential actions by third parties, such as regulators, courts, and state and federal legislatures. Changes in the amounts of our loss provisions, which can be material, affect our financial condition. Due to the inherent uncertainties in the process undertaken to estimate potential losses, we are unable to estimate an additional range of loss in excess of our accruals. While it is reasonably possible that such excess liabilities, if they were to occur, could be material to operating results in any given quarter or year of their recognition, we do not believe that it is reasonably possible that such excess liabilities would have a material adverse effect on our long-term results of operations, liquidity or consolidated financial position.
	Our subsidiaries are involved in a number of contractual and warranty related disputes. We believe that appropriate liabilities for these contingencies have been recorded; however, actual results may differ materially from our estimates.
	IPSCO Tubulars Inc. d/b/a TMK IPSCO sued Ajax Tocco Magnethermic Corporation (“ATM”), a subsidiary of Park-Ohio Holdings Corporation, in the United States District Court for the Eastern District of Arkansas claiming that equipment supplied by ATM for heat treating certain steel pipe at IPSCO's Blytheville, Arkansas facility did not perform as required by the contract. The complaint alleged causes of action for breach of contract, gross negligence and constructive fraud. IPSCO sought approximately $10.0 million in damages plus an unspecified amount of punitive damages. ATM denied the allegations. ATM subsequently obtained summary judgment on the constructive fraud claim, which was dismissed by the district court prior to trial. The remaining claims were the subject of a bench trial that occurred in May 2013. After IPSCO presented its case, the district court entered partial judgment in favor of ATM, dismissing the gross negligence claim, a portion of the breach of contract claim, and any claim for punitive damages. The trial proceeded with respect to the remainder of IPSCO's claim for breach of contract. In September 2013, the district court issued a judgment in favor of IPSCO in the amount of $5.2 million, which the Company recognized and accrued for at that time. IPSCO subsequently filed a motion seeking to recover $3.8 million in attorneys' fees and costs. The district court reserved ruling on that issue pending an appeal. In October 2013, ATM filed an appeal with the U.S. Court of Appeals for the Eighth Circuit seeking reversal of the judgment in favor of IPSCO. In November 2013, IPSCO filed a cross-appeal seeking reversal of the dismissal of its claim for gross negligence and punitive damages. The Eighth Circuit issued an opinion in March 2015 affirming in part, reversing in part, and remanding the case. It affirmed the district court's determination that ATM was liable for breach of contract. It also affirmed the district court's dismissal of IPSCO's claim for gross negligence and punitive damages. However, the Eighth Circuit reversed nearly all of the damages awarded by the district court and remanded for further findings on the issue of damages, including whether consequential damages are barred under the express language of the contract. Because IPSCO did not appeal the award of $5.2 million in its favor, those damages may be decreased, but cannot be increased, on remand. IPSCO's motion to recover attorney's fees and costs is stayed pending the outcome of the proceedings on remand.
	In August 2013, the Company received a subpoena from the staff of the Securities and Exchange Commission (“SEC”) in connection with the staff’s investigation of a third party. At that time, the Company also learned that the U.S. Department of Justice (“DOJ”) is conducting a criminal investigation of the third party. In connection with its initial response to the staff’s subpoena, the Company disclosed to the staff of the SEC that, in November 2007, the third party participated in a payment on behalf of the Company to a foreign tax official that implicates the Foreign Corrupt Practices Act.
	The Board of Directors of the Company has formed a special committee to review the Company’s transactions with the third party and to make any recommendations to the Board of Directors with respect thereto.
	The Company intends to cooperate fully with the SEC and the DOJ in connection with their investigations of the third party and with the SEC in light of the Company’s disclosure. The Company is unable to predict the outcome or impact of the special committee’s investigation or the length, scope or results of the SEC’s review or the impact on its results of operations.

Pension_Plans_and_Other_Postre

Pension Plans and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits
	The components of net periodic benefit (gains) costs recognized during interim periods were as follows:
		Pension Benefits						Postretirement Benefits
		Three Months Ended March 31,						Three Months Ended March 31,
		2015			2014			2015		2014
		(In millions)
	Service costs	$	0.6		$	0.6		$	—	$	0.2
	Interest costs	0.6			0.6			0.1		—
	Expected return on plan assets	(2.5		)	(2.6		)	—		—
	Recognized net actuarial loss	—			—			0.2		0.1
	Net periodic benefit (gains) costs	$	(1.3	)	$	(1.4	)	$	0.3	$	0.3

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)
	The components of and changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 were as follows:
		Three Months Ended March 31, 2015
		Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
		(In millions)
	Beginning balance	$	(5.1	)	$	(8.9	)	$	(14.0	)
	Foreign currency translation adjustments (a)	(5.3		)	—			(5.3		)
	Recognition of actuarial loss (b)	—			0.2			0.2
	Ending balance	$	(10.4	)	$	(8.7	)	$	(19.1	)
		Three Months Ended March 31, 2014
		Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
		(In millions)
	Beginning balance	$	2.8		$	0.6		$	3.4
	Foreign currency translation adjustments (a)	(0.4		)	—			(0.4		)
	Recognition of actuarial loss (b)	—			(0.1		)	(0.1		)
	Ending balance	$	2.4		$	0.5		$	2.9
	(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.
	(b)	The recognition of actuarial losses are reclassified out of accumulated other comprehensive income (loss) and included in the computation of net periodic benefit cost in selling, general and administrative expenses.

WeightedAverage_Number_of_Shar

Weighted-Average Number of Shares Used in Computing Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted-Average Number of Shares Used in Computing Earnings Per Share	Weighted-Average Number of Shares Used in Computing Earnings Per Share
	The following table sets forth the weighted-average number of shares used in the computation of earnings per share:
		Three Months Ended March 31,
		2015	2014
		(In whole shares)
	Weighted average basic shares outstanding	12,165,884	12,023,453
	Plus dilutive impact of employee stock awards	257,574	307,567
	Weighted average diluted shares outstanding	12,423,458	12,331,020
	Earnings per common share is computed as net income less net income attributable to noncontrolling interests divided by the weighted average basic shares outstanding. Diluted earnings per common share is computed as net income less net income attributable to noncontrolling interests divided by the weighted average diluted shares outstanding.
	Outstanding stock options with exercise prices greater than the average price of the common shares are anti-dilutive and are excluded in the computation of diluted earnings per share. For the three months ended March 31, 2015 and 2014, there were no anti-dilutive shares.

Subsequent_Event

Subsequent Event	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event
	On April 30, 2015, the Company's Board of Directors declared a quarterly dividend of $0.125 per common share. The dividend will be paid on May 29, 2015 to shareholders of record as of the close of business on May 15, 2015 and will result in a cash outlay of approximately $1.6 million.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	Accounting Pronouncements Adopted
	In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which raises the threshold for disposals to qualify as discontinued operations and requires new disclosures for discontinued operations and for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective prospectively for reporting periods beginning with the first quarter of 2015. The adoption had no effect on our consolidated financial statement as it only applies to future disposals.
	Recent Accounting Pronouncements Not Yet Adopted
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, however, in April 2015, the FASB proposed a one-year deferral of this standard with a new effective date of December 15, 2017. The ASU will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance.
	In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs." The amendment requires an entity to present debt issuance costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company is currently evaluating the impact of adopting this guidance.

Segments_Tables

Segments (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Results by business segment	Results by business segment were as follows:
		Three Months Ended
		March 31,
		2015			2014
		(In millions)
	Net sales:
	Supply Technologies	$	151.4		$	134.4
	Assembly Components	140.5			108.1
	Engineered Products	82.8			75.3
		$	374.7		$	317.8
	Income before income taxes:
	Supply Technologies	$	14.2		$	10.1
	Assembly Components	10.6			8.1
	Engineered Products	6.2			10.6
	Total segment operating income	31			28.8
	Corporate costs	(6.7		)	(6.6		)
	Interest expense	(6.8		)	(6.3		)
	Income before income taxes	$	17.5		$	15.9
		31-Mar-15			31-Dec-14
		(In millions)
	Identifiable assets:
	Supply Technologies	$	285.2		$	277.6
	Assembly Components	347.5			340.5
	Engineered Products	241.8			246.9
	General corporate	112.4			109.2
		$	986.9		$	974.2

Acquisitions_Tables

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of acquisitions and acquisition-related costs	The following table summarizes the Company's recent acquisitions:
	Description		Date of Transaction	Purchase			Acquired	Segment
				Consideration
				(In millions)
	Saet S.p.A		4-Dec-14	$	22.1		100% of equity	Engineered Products
		An Italian based leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee.
	Autoform Tool & Manufacturing		10-Oct-14	$	48.9		100% of equity	Assembly Components
		An Indiana supplier of high end pressure fuel lines used in Gasoline Direct Injection systems across a large number of engine platforms.
	Apollo Group Limited		10-Jun-14	$	6.5	*	100% of equity	Supply Technologies
		A U.K. supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide.
	* Purchase consideration is net of cash acquired.

Accounts_Receivable_Tables

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Schedule of Accounts Receivable Sold and Losses Recorded on the Sales	The following table summarizes accounts receivable sold and the losses recorded on the sales of accounts receivable.
		Three Months Ended March 31,
		2015			2014
		(In millions)
	Accounts receivable sold	$	26.1		$	23
	Loss on sale of accounts receivable	$	(0.1	)	$	(0.1	)

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Components of inventory	The components of inventory consist of the following:
		March 31, 2015		December 31, 2014
		(In millions)
	Finished goods	$	151	$	146
	Work in process	34.2		19.8
	Raw materials and supplies	64.3		72.6
	Inventories, net	$	249.5	$	238.4

Goodwill_Tables

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill by segment for the periods ended March 31, 2015 and December 31, 2014 were as follows:
		Supply Technologies			Assembly Components			Engineered Products			Total
		(In millions)
	Balance at January 1, 2014	$	6.4		$	49		$	5		$	60.4
	Acquisitions	0.7			5			23.2			28.9
	Foreign currency translation	0.5			—			(0.3		)	0.2
	Balance at December 31, 2014	7.6			54			27.9			89.5
	Foreign currency translation	(0.4		)	—			(2.1		)	(2.5		)
	Acquisition adjustments	—			(0.1		)	—			(0.1		)
	Balance at March 31, 2015	$	7.2		$	53.9		$	25.8		$	86.9

Other_Intangible_Assets_Tables

Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Information regarding other intangible assets as of March 31, 2015 and December 31, 2014 follows:
		March 31, 2015										December 31, 2014
		Weighted Average Useful Life		Acquisition Cost				Accumulated Amortization		Net		Acquisition Cost		Accumulated Amortization		Net
				(In millions)
	Non-contractual customer relationships	11.5 years		$	76.2			$	14.7	$	61.5	$	77.3	$	13.2	$	64.1
	Indefinite-lived tradenames	*		14				—		14		14		—		14
	Other	17.6 years		12.2				2.5		9.7		12.3		2.3		10
	Total			$	102.4			$	17.2	$	85.2	$	103.6	$	15.5	$	88.1
	* Not applicable, tradenames have an indefinite life.
Schedule of indefinite-lived intangible assets	Information regarding other intangible assets as of March 31, 2015 and December 31, 2014 follows:
		March 31, 2015										December 31, 2014
		Weighted Average Useful Life		Acquisition Cost				Accumulated Amortization		Net		Acquisition Cost		Accumulated Amortization		Net
				(In millions)
	Non-contractual customer relationships	11.5 years		$	76.2			$	14.7	$	61.5	$	77.3	$	13.2	$	64.1
	Indefinite-lived tradenames	*		14				—		14		14		—		14
	Other	17.6 years		12.2				2.5		9.7		12.3		2.3		10
	Total			$	102.4			$	17.2	$	85.2	$	103.6	$	15.5	$	88.1
	* Not applicable, tradenames have an indefinite life.
Information regarding amortization expense	Information regarding amortization expense of other intangibles assets follows:
		Three Months Ended March 31,
		2015				2014
		(In millions)
	Amortization expense	$	1.7			$	1.1

Accrued_Warranty_Costs_Tables

Accrued Warranty Costs (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Changes in product warranty liability	The following table presents the changes in the Company’s product warranty liability for the three months ended March 31, 2015 and 2014:
		2015			2014
		(In millions)
	Balance at January 1,	$	6.9		$	5.4
	Claims paid	(1.2		)	(0.8		)
	Warranty expense, net	0.3			0.5
	Balance at March 31,	$	6		$	5.1

Financing_Arrangements_Tables

Financing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term debt	Long-term debt consists of the following:
								Carrying Value at
		Issuance Date		Maturity Date		Interest Rate at		March 31, 2015		December 31, 2014
						31-Mar-15
								(In millions)
	Senior Notes	1-Apr-11		1-Apr-21		8.125	%	$	250	$	250
	Revolving credit	—		31-Jul-19		1.69	%	163.7		162
	Term loan	—		31-Jul-19		2.31	%	31.2		28.8
	Other	Various		Various		Various		2.9		3
	Total debt							447.8		443.8
	Less current maturities							12.6		9.4
	Total long-term debt, net of current portion							$	435.2	$	434.4
Fair Value of Debt	The following table represents fair value information of the Company's Senior Notes, classified as Level 1, at March 31, 2015 and December 31, 2014. The fair value was estimated using quoted market prices.
		31-Mar-15			31-Dec-14
		(In millions)
	Carrying amount	$	250		$	250
	Fair value	$	267.5		$	266.3

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	A summary of stock option activity as of March 31, 2015 and changes during the first three months of 2015 is presented below:
		2015
		Number of Shares		Weighted Average		Weighted		Aggregate
				Exercise Price		Average		Intrinsic
						Remaining		Value
						Contractual
						Term
		(In whole shares)						(In millions)
	Outstanding - beginning of year	143,500		$	16.76
	Granted	—		—
	Exercised	—		—
	Canceled or expired	—		—
	Outstanding - end of period	143,500		$	16.76	1.5 years		$	5.2
	Options exercisable	143,500		$	16.76	1.5 years		$	5.2
Summary of Restricted Share and Performance Share Activity	A summary of restricted share and performance share activity for the three months ended March 31, 2015 is as follows:
		2015
		Time-Based				Performance-Based
		Number of Shares		Weighted Average		Number of Shares			Weighted Average
				Grant Date					Grant Date
				Fair Value					Fair Value
		(In whole shares)				(In whole shares)
	Outstanding - beginning of year	344,932		$	33.55	28,000			$	20.3
	Granted	1,000		58.74		—			—
	Vested	(41,666	)	20.34		(14,000	)		20.3
	Canceled or expired	—		—		—			—
	Outstanding - end of period	304,266		$	35.37	14,000			$	20.3

Pension_Plans_and_Other_Postre1

Pension Plans and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost	The components of net periodic benefit (gains) costs recognized during interim periods were as follows:
		Pension Benefits						Postretirement Benefits
		Three Months Ended March 31,						Three Months Ended March 31,
		2015			2014			2015		2014
		(In millions)
	Service costs	$	0.6		$	0.6		$	—	$	0.2
	Interest costs	0.6			0.6			0.1		—
	Expected return on plan assets	(2.5		)	(2.6		)	—		—
	Recognized net actuarial loss	—			—			0.2		0.1
	Net periodic benefit (gains) costs	$	(1.3	)	$	(1.4	)	$	0.3	$	0.3

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Changes in accumulated comprehensive income (loss)	The components of and changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 were as follows:
		Three Months Ended March 31, 2015
		Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
		(In millions)
	Beginning balance	$	(5.1	)	$	(8.9	)	$	(14.0	)
	Foreign currency translation adjustments (a)	(5.3		)	—			(5.3		)
	Recognition of actuarial loss (b)	—			0.2			0.2
	Ending balance	$	(10.4	)	$	(8.7	)	$	(19.1	)
		Three Months Ended March 31, 2014
		Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
		(In millions)
	Beginning balance	$	2.8		$	0.6		$	3.4
	Foreign currency translation adjustments (a)	(0.4		)	—			(0.4		)
	Recognition of actuarial loss (b)	—			(0.1		)	(0.1		)
	Ending balance	$	2.4		$	0.5		$	2.9
	(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.
	(b)	The recognition of actuarial losses are reclassified out of accumulated other comprehensive income (loss) and included in the computation of net periodic benefit cost in selling, general and administrative expenses.

WeightedAverage_Number_of_Shar1

Weighted-Average Number of Shares Used in Computing Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares Used in Computing Earnings Per Share	The following table sets forth the weighted-average number of shares used in the computation of earnings per share:
		Three Months Ended March 31,
		2015	2014
		(In whole shares)
	Weighted average basic shares outstanding	12,165,884	12,023,453
	Plus dilutive impact of employee stock awards	257,574	307,567
	Weighted average diluted shares outstanding	12,423,458	12,331,020

Segments_Schedule_of_Segment_I

Segments (Schedule of Segment Information) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Net sales:
Net sales	$374.70	$317.80
Income before income taxes:
Total segment operating income	24.3	22.2
Interest expense	-6.8	-6.3
Income before income taxes	17.5	15.9
Identifiable assets:
Identifiable assets	986.9		974.2
Operating Segments [Member]
Net sales:
Net sales	374.7	317.8
Income before income taxes:
Total segment operating income	31	28.8
Operating Segments [Member] | Supply Technologies [Member]
Net sales:
Net sales	151.4	134.4
Income before income taxes:
Total segment operating income	14.2	10.1
Identifiable assets:
Identifiable assets	285.2		277.6
Operating Segments [Member] | Assembly Components [Member]
Net sales:
Net sales	140.5	108.1
Income before income taxes:
Total segment operating income	10.6	8.1
Identifiable assets:
Identifiable assets	347.5		340.5
Operating Segments [Member] | Engineered Products [Member]
Net sales:
Net sales	82.8	75.3
Income before income taxes:
Total segment operating income	6.2	10.6
Identifiable assets:
Identifiable assets	241.8		246.9
Segment Reconciling Items [Member]
Income before income taxes:
Corporate costs	-6.7	-6.6
Interest expense	-6.8	-6.3
General corporate [Member]
Identifiable assets:
Identifiable assets	$112.40		$109.20

Segments_Details

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

Acquisitions_Schedule_of_Acqui

Acquisitions (Schedule of Acquisitions) (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Dec. 04, 2014	Oct. 10, 2014	Jun. 10, 2014
Saet S.p.A [Member] | Engineered Products [Member]
Business Acquisition [Line Items]
Purchase Consideration, gross	$22.10
Percentage of equity acquired	100.00%
Autoform Tool & Manufacturing [Member] | Assembly Components [Member]
Business Acquisition [Line Items]
Purchase Consideration, gross		48.9
Percentage of equity acquired		100.00%
Apollo Group Limited [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			6.5
Apollo Group Limited [Member] | Supply Technologies [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$6.50
Percentage of equity acquired			100.00%

Acquisitions_Details

Acquisitions (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Jun. 10, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 10, 2014
Business Acquisition [Line Items]
Goodwill		$86.90	$89.50	$60.40
Apollo Group Limited [Member]
Business Acquisition [Line Items]
Contingent consideration, based on achievement of certain EBITDA targets	2.4	1.6
Contingent consideration, measurement period for EBITDA targets	2 years
Contingent consideration, fair value at date of acquisition	1.1
Purchase consideration	6.5
Autoform and Apollo [Member]
Business Acquisition [Line Items]
Goodwill					5.6
Saet S.p.A [Member]
Business Acquisition [Line Items]
Goodwill		$23.20

Accounts_Receivable_Details

Accounts Receivable (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Receivables [Abstract]
Accounts receivable sold	$26.10	$23
Loss on sale of accounts receivable	($0.10)	($0.10)

Inventories_Components_of_Inve

Inventories (Components of Inventory) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Components of inventory
Finished goods	$151	$146
Work in process	34.2	19.8
Raw materials and supplies	64.3	72.6
Inventories, net	$249.50	$238.40

Goodwill_Change_in_Goodwill_De

Goodwill (Change in Goodwill) (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill, beginning of period	$89.50	$60.40
Acquisitions		28.9
Foreign currency translation	-2.5	0.2
Acquisition adjustments	-0.1
Goodwill, end of period	86.9	89.5
Supply Technologies [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	7.6	6.4
Acquisitions		0.7
Foreign currency translation	-0.4	0.5
Acquisition adjustments	0
Goodwill, end of period	7.2	7.6
Assembly Components [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	54	49
Acquisitions		5
Foreign currency translation	0	0
Acquisition adjustments	-0.1
Goodwill, end of period	53.9	54
Engineered Products [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	27.9	5
Acquisitions		23.2
Foreign currency translation	-2.1	-0.3
Acquisition adjustments	0
Goodwill, end of period	$25.80	$27.90

Other_Intangible_Assets_Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Acquisition Costs, Total	$102.40	$103.60
Accumulated Amortization	17.2	15.5
Net, Total	85.2	88.1
Indefinite-lived tradenames [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Acquisition Costs, Indefinite-lived	14	14
Non-contractual customer relationships [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	11 years 6 months
Acquisition Costs, Finite-lived	76.2	77.3
Accumulated Amortization	14.7	13.2
Net, Finite-lived	61.5	64.1
Other [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	17 years 7 months 6 days
Acquisition Costs, Finite-lived	12.2	12.3
Accumulated Amortization	2.5	2.3
Net, Finite-lived	$9.70	$10

Other_Intangible_Assets_Amorti

Other Intangible Assets (Amortization Expense) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$1.70	$1.10

Accrued_Warranty_Costs_Details

Accrued Warranty Costs (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Changes in product warranty liability [Roll Forward]
Balance at beginning of period	$6.90	$5.40
Claims paid	-1.2	-0.8
Warranty expense, net	0.3	0.5
Balance at end of period	$6	$5.10

Financing_Arrangements_Schedul

Financing Arrangements (Schedule of Long-term Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Debt Instrument [Line Items]
Total debt	$447.80	$443.80
Less current maturities	12.6	9.4
Total long-term debt, net of current portion	435.2	434.4
Revolving credit [Member]
Debt Instrument [Line Items]
Interest rate at end of period	1.69%
Total debt	163.7	162
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate at end of period	2.31%
Total debt	31.2	28.8
8.125% senior notes due 2021 [Member]
Debt Instrument [Line Items]
Stated interest rate	8.13%
Total debt	250	250
Other [Member]
Debt Instrument [Line Items]
Total debt	$2.90	$3

Financing_Arrangements_Fair_Va

Financing Arrangements (Fair Value of Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount	$447.80	$443.80
Level 1 [Member] | Carrying amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount	250	250
Level 1 [Member] | Fair value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$267.50	$266.30

Financing_Arrangements_Details

Financing Arrangements (Details) (USD $)	0 Months Ended
	Jul. 31, 2014	Mar. 12, 2015	Oct. 23, 2014
The Amended Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$230,000,000		$230,000,000
Term of debt instrument	7 years
Option to increase availability	50,000,000
Inventory advance rate percentage		60.00%	50.00%
The Amended Credit Agreement [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	15,000,000		15,000,000
The Amended Credit Agreement [Member] | Revolving Credit Facility, European Sub-Limit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	10,000,000		10,000,000
Maximum borrowing capacity, potential increase	25,000,000
The Amended Credit Agreement [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	16,100,000
The Amended Credit Agreement [Member] | LIBOR [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	1.50%
The Amended Credit Agreement [Member] | LIBOR [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	2.50%
The Amended Credit Agreement [Member] | LIBOR [Member] | Term Loan [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	2.00%
The Amended Credit Agreement [Member] | LIBOR [Member] | Term Loan [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	3.00%
The Amended Credit Agreement [Member] | Prime lending rate [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	-0.25%
The Amended Credit Agreement [Member] | Prime lending rate [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	-1.25%
The Amended Credit Agreement [Member] | Prime lending rate [Member] | Term Loan [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	-0.75%
The Amended Credit Agreement [Member] | Prime lending rate [Member] | Term Loan [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	0.25%
The Amended Credit Agreement [Member] | Canadian deposit offered rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	1.50%
The Amended Credit Agreement [Member] | Canadian deposit offered rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	2.50%
The Amended Credit Agreement [Member] | Canadian prime lending rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	0.00%
The Amended Credit Agreement [Member] | Canadian prime lending rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	1.00%
The Amended Credit Agreement [Member] | US base rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	0.00%
The Amended Credit Agreement [Member] | US base rate [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)	1.00%
Amendment No. 1 to the Amended Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		275,000,000
Inventory advance rate percentage to be reduced to		50.00%
Term over which inventory advance rate percentage reduces		36 months
Amount drawn		22,000,000
Term over which basis spread on variable interest rate reduces		36 months
Amendment No. 1 to the Amended Credit Agreement [Member] | Revolving Credit Facility, Canadian Sub-Limit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		25,000,000
Amendment No. 1 to the Amended Credit Agreement [Member] | Revolving Credit Facility, European Sub-Limit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		25,000,000
Amendment No. 1 to the Amended Credit Agreement [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		35,000,000
Amount drawn		$31,200,000	$15,500,000
Amendment No. 1 to the Amended Credit Agreement [Member] | LIBOR [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate - plus (minus)		3.50%

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	36.60%	35.20%

StockBased_Compensation_Summar

Stock-Based Compensation (Summary of Stock Option Activity) (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares	143,500
Granted, number of shares	0
Exercised, number of shares	0
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	143,500
Options exercisable, number of shares	143,500
Weighted Average Exercise Price [Abstract]
Outstanding - beginning of year, Weighted Average Exercise Price (in dollars per share)	$16.76
Granted, Weighted Average Exercise Price (in dollars per share)	$0
Exercised, Weighted Average Exercise Price (in dollars per share)	$0
Canceled or Expired, Weighted Average Exercise Price (in dollars per share)	$0
Outstanding - end of year, Weighted Average Exercise Price (in dollars per share)	$16.76
Options Exercisable - end of year, Weighted Average Exercise Price (in dollars per share)	$16.76
Outstanding - end of year, weighted average remaining contractual term	1 year 6 months
Options Exercisable, Weighted Average remaining contractual term	1 year 6 months
Outstanding - end of year, Aggregate intrinsic value	$5.20
Options Exercisable, Aggregate intrinsic value	$5.20

StockBased_Compensation_Summar1

Stock-Based Compensation (Summary of Restricted Share and Performance Share Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Time-Based [Member]
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares	344,932
Granted, number of shares	1,000
Vested, number of shares	-41,666
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	304,266
Weighted Average Grant Date Fair Value [Abstract]
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share)	$33.55
Granted, weighted average grant date fair value (in dollars per share)	$58.74
Vested, weighted average grant date fair value (in dollars per share)	$20.34
Canceled or expired, weighted average grant date fair value (in dollars per share)	$0
Outstanding - end of year, weighted average grant date fair value (in dollars per share)	$35.37
Performance-Based [Member]
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares	28,000
Granted, number of shares	0
Vested, number of shares	-14,000
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	14,000
Weighted Average Grant Date Fair Value [Abstract]
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share)	$20.30
Granted, weighted average grant date fair value (in dollars per share)	$0
Vested, weighted average grant date fair value (in dollars per share)	$20.30
Canceled or expired, weighted average grant date fair value (in dollars per share)	$0
Outstanding - end of year, weighted average grant date fair value (in dollars per share)	$20.30

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	$1.60	$1.30
Unrecognized compensation cost related to non-vested stock-based compensation	$8.30
Weighted average period	1 year 10 months 24 days

Commitments_Contingencies_and_1

Commitments, Contingencies and Litigation Judgment (Details) (TMK IPSCO [Member], USD $)	1 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	31-May-13
TMK IPSCO [Member]
Loss Contingencies [Line Items]
Direct damages sought		$10
Damages awarded	5.2
Additional damages sought	$3.80

Pension_Plans_and_Other_Postre2

Pension Plans and Other Postretirement Benefits (Components of net periodic benefit) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Pension Benefits [Member]
Components of net periodic benefit cost
Service costs	$0.60	$0.60
Interest costs	0.6	0.6
Expected return on plan assets	-2.5	-2.6
Recognized net actuarial loss	0	0
Net periodic benefit (gains) costs	-1.3	-1.4
Postretirement Benefits [Member]
Components of net periodic benefit cost
Service costs	0	0.2
Interest costs	0.1	0
Expected return on plan assets	0	0
Recognized net actuarial loss	0.2	0.1
Net periodic benefit (gains) costs	$0.30	$0.30

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Components of accumulated comprehensive loss) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			($14)
Ending balance	-19.1		-14
Cumulative Translation Adjustment [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	-5.1	2.8
Foreign currency translation adjustments	-5.3	-0.4
Recognition of actuarial loss	0	0
Ending balance	-10.4	2.4
Pension and Postretirement Benefits [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	-8.9	0.6
Foreign currency translation adjustments	0	0
Recognition of actuarial loss	0.2	-0.1
Ending balance	-8.7	0.5
Accumulated Other Comprehensive Income [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	-14	3.4
Foreign currency translation adjustments	-5.3	-0.4
Recognition of actuarial loss	0.2	-0.1
Ending balance	($19.10)	$2.90

WeightedAverage_Number_of_Shar2

Weighted-Average Number of Shares Used in Computing Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Weighted average basic shares outstanding	12,165,884	12,023,453
Plus dilutive impact of employee stock awards	257,574	307,567
Weighted average diluted shares outstanding	12,423,458	12,331,020

Subsequent_Event_Details

Subsequent Event (Details) (USD $)	3 Months Ended		0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2015
Subsequent Event [Line Items]
Quarterly dividend declared, per common share (in dollars per share)	$0.13	$0
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly dividend declared, per common share (in dollars per share)			$0.13
Quarterly dividend declared, cash outlay			$1.60