Park-Ohio (PKOH) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	PARK OHIO HOLDINGS CORP
Entity Central Index Key	76,282
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,653,618

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 62.7	$ 58
Accounts receivable, less allowances for doubtful accounts of $3.7 million at September 30, 2015 and $4.1 million at December 31, 2014	218.7	208
Inventories, net	247.8	238.4
Deferred tax assets	29	28.9
Unbilled contract revenue	32.7	26.8
Other current assets	24.1	22.1
Total current assets	615	582.2
Property, plant and equipment, net	153	141.1
Goodwill	72.4	89.5
Intangible assets, net	94.9	88.1
Other long-term assets	79.8	73.3
Total assets	1,015.1	974.2
Current liabilities:
Trade accounts payable	136.1	160.3
Accrued expenses and other	106.1	103.6
Total current liabilities	242.2	263.9
Long-term liabilities:
Debt, less current portion	463.9	434.4
Deferred tax liabilities	45.4	43.9
Other postretirement benefits and other long-term liabilities	41.5	40.1
Total long-term liabilities	550.8	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 -- 14,646,820 shares in 2015 and 14,513,821 in 2014	14.6	14.5
Additional paid-in capital	95.8	89.8
Retained earnings	158.2	126.5
Treasury stock, at cost, 2,116,406 shares in 2015 and 2,014,692 shares in 2014	(36.2)	(31.2)
Accumulated other comprehensive loss	(17.1)	(14)
Total Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity	215.3	185.6
Noncontrolling interest	6.8	6.3
Total equity	222.1	191.9
Total liabilities and shareholders' equity	$ 1,015.1	$ 974.2

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3.7	$ 4.1
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)	14,646,820	14,513,821
Treasury stock, shares (in shares)	2,116,406	2,014,692

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net sales	$ 364.4	$ 344.6	$ 1,116.4	$ 1,005.7
Cost of sales	302.1	284	935.3	828.1
Gross profit	62.3	60.6	181.1	177.6
Selling, general and administrative expenses	34.9	34.2	103.8	102.9
Operating income	27.4	26.4	77.3	74.7
Interest expense	7	6.5	20.7	19.4
Income before income taxes	20.4	19.9	56.6	55.3
Income tax expense	7.2	7.4	19.7	19.6
Net income	13.2	12.5	36.9	35.7
Net income attributable to noncontrolling interest	0	(0.1)	(0.5)	(0.8)
Net income attributable to ParkOhio common shareholders	$ 13.2	$ 12.4	$ 36.4	$ 34.9
Earnings per common share attributable to ParkOhio common shareholders:
Basic (in dollars per share)	$ 1.07	$ 1.02	$ 2.98	$ 2.88
Diluted (in dollars per share)	$ 1.06	$ 1	$ 2.94	$ 2.82
Weighted-average shares used to compute earnings per share:
Basic (in shares)	12,288,392	12,133,153	12,228,721	12,081,787
Diluted (in shares)	12,398,368	12,368,395	12,415,073	12,357,808
Dividend per common share (in dollars per share)	$ 0.125	$ 0.125	$ 0.375	$ 0.25

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 13.2	$ 12.5	$ 36.9	$ 35.7
Other comprehensive income:
Foreign currency translation loss	(0.9)	(4.9)	(3.5)	(3.9)
Pension and postretirement benefit adjustments, net of tax	0.1	0.1	0.4	0.1
Total other comprehensive loss	(0.8)	(4.8)	(3.1)	(3.8)
Total comprehensive income, net of tax	12.4	7.7	33.8	31.9
Comprehensive income attributable to noncontrolling interest	0	(0.1)	(0.5)	(0.8)
Comprehensive income attributable to ParkOhio common shareholders	$ 12.4	$ 7.6	$ 33.3	$ 31.1

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]
Shares, Issued at Dec. 31, 2014		14,513,821
Beginning balance at Dec. 31, 2014	$ 191.9	$ 14.5	$ 89.8	$ 126.5	$ (31.2)	$ (14)	$ 6.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	33.8			36.4		(3.1)	0.5
Share-based compensation expense and award activity (in shares)		154,500
Share-based compensation expense and award activity	5.4	$ 0.1	5.3
Restricted stock canceled (in shares)		(21,501)
Restricted stock canceled	0.7		0.7
Dividends	(4.7)			(4.7)
Purchase of treasury stock (101,714 shares)	(5)				(5)
Shares, Issued at Sep. 30, 2015		14,646,820
Ending balance at Sep. 30, 2015	$ 222.1	$ 14.6	$ 95.8	$ 158.2	$ (36.2)	$ (17.1)	$ 6.8

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2015shares
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock (in shares)	101,714

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net income	$ 36.9	$ 35.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21.2	16.3
Share-based compensation	5.3	4.2
Other	0	(0.7)
Changes in operating assets and liabilities, excluding business acquisitions:
Accounts receivable	(14.5)	(33.9)
Inventories and other current assets	(21.8)	(4.5)
Accounts payable and accrued expenses	(21.4)	24.9
Other	6	(7.8)
Net cash provided by operating activities	11.7	34.2
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(31.1)	(13.9)
Proceeds from sale of assets	0	2
Business acquisitions, net of cash acquired	0	(5.4)
Net cash used by investing activities	(31.1)	(17.3)
FINANCING ACTIVITIES
Proceeds from term loans and other debt	2.3	0
Payments on term loans and other debt	(3.5)	(4.1)
Proceeds from (payments on) revolving credit facility, net	27.6	(0.5)
Proceeds from capital lease credit facility	10.3	0
Dividends	(4.7)	(3.1)
Purchase of treasury stock	(5)	(3.7)
Other	0	(1.3)
Net cash provided (used) by financing activities	27	(12.7)
Effect of exchange rate changes on cash	(2.9)	3.1
Increase in cash and cash equivalents	4.7	7.3
Cash and cash equivalents at beginning of period	58	55.2
Cash and cash equivalents at end of period	62.7	62.5
Income taxes paid	13.3	19.5
Interest paid	$ 14.6	$ 13.1

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 - and nine -month periods ended September 30, 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	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Adopted In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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, 2017, including interim periods within that reporting period. 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 new guidance will only impact the presentation of the Company's financial position and is not expected to materially affect the Company's results of operations or other financial statement disclosures. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." The amendment requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. This ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. This ASU is effective for fiscal years after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied prospectively, and the impact of adoption will be dependent on the nature of measurement period adjustments that may be necessary.

Segments

Segments	9 Months Ended
	Sep. 30, 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 and fuel filler and hydraulic fluid assemblies. 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, such as induction heating and melting systems, pipe threading equipment, machined locomotive crankshafts and camshafts and various forged and machined products. Engineered Products also produces and provides services and spare parts for the equipment it manufactures. 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Net sales: Supply Technologies $ 143.1 $ 143.4 $ 444.7 $ 420.2 Assembly Components 149.3 121.6 429.6 351.7 Engineered Products 72.0 79.6 242.1 233.8 $ 364.4 $ 344.6 $ 1,116.4 $ 1,005.7 Income before income taxes: Supply Technologies $ 13.0 $ 12.2 $ 40.2 $ 32.7 Assembly Components 17.7 11.0 41.9 31.3 Engineered Products 4.3 11.5 15.7 32.8 Total segment operating income 35.0 34.7 97.8 96.8 Corporate costs (7.6 ) (8.3 ) (20.5 ) (22.1 ) Interest expense (7.0 ) (6.5 ) (20.7 ) (19.4 ) Income before income taxes $ 20.4 $ 19.9 $ 56.6 $ 55.3 September 30, 2015 December 31, 2014 (In millions) Identifiable assets: Supply Technologies $ 286.4 $ 277.6 Assembly Components 360.6 340.5 Engineered Products 249.6 246.9 General corporate 118.5 109.2 $ 1,015.1 $ 974.2

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions The following table summarizes the Company's recent acquisitions: Description Date of Transaction Purchase Consideration Acquired Segment (In millions) Saet S.p.A December 4, 2014 $ 22.1 * 100% of equity Engineered Products A leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee, and head quartered in Turin, Italy. Autoform Tool & Manufacturing October 10, 2014 $ 48.9 * 100% of equity Assembly Components A supplier of high pressure fuel lines and fuel rails used in Gasoline Direct Injection systems across a large number of engine platforms located in Angola, Indiana. Apollo Group Limited June 10, 2014 $ 6.5 * 100% of equity Supply Technologies A supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide located in West Midlands, England. * Purchase consideration is net of cash acquired. The Apollo purchase agreement provides for the payment of contingent consideration of approximately $2.4 million based on the achievement of certain EBITDA targets over two years. The fair value of the earn-out, valued using level 3 inputs, was approximately $1.1 million at the date of the acquisition for a total purchase consideration of $6.5 million and at September 30, 2015 , the fair value of the earn-out was approximately $1.9 million . The contingent consideration, if earned, would be paid in the third quarter of 2016. The acquisition of Autoform was accounted for under the acquisition method of accounting. The purchase price allocation relating to the Autoform acquisition is subject to further adjustment until all pertinent information regarding finalization of the intangible assets and deferred income tax assets and liabilities 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. The acquisition of Saet was accounted for under the acquisition method of accounting. At December 31, 2014, the entire purchase price allocation was preliminary with the fair values of the assets acquired and liabilities assumed estimated based on their carrying values with the excess consideration of $23.2 million preliminarily recorded as goodwill. During the third quarter of 2015, the Company received preliminary third-party valuations for the inventories, intangible assets and tangible assets. The Company recorded adjustments resulting in a decrease to goodwill of approximately $16.4 million , primarily offset by an increase in tradenames and technology intangible assets of $4.7 million and $8.7 million , respectively. These preliminary estimates may be further 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	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Accounts receivable sold $ 27.7 $ 23.9 $ 89.8 $ 70.1 Loss on sale of accounts receivable $ (0.2 ) $ (0.1 ) $ (0.5 ) $ (0.3 ) 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	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventory consist of the following: September 30, 2015 December 31, 2014 (In millions) Finished goods $ 143.8 $ 146.0 Work in process 36.8 19.8 Raw materials and supplies 67.2 72.6 Inventories, net $ 247.8 $ 238.4

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill by segment for the periods ended September 30, 2015 and December 31, 2014 were as follows: Supply Technologies Assembly Components Engineered Products Total (In millions) Balance at January 1, 2014 $ 6.4 $ 49.0 $ 5.0 $ 60.4 Acquisitions 0.7 5.0 23.2 28.9 Foreign currency translation 0.5 — (0.3 ) 0.2 Balance at December 31, 2014 7.6 54.0 27.9 89.5 Foreign currency translation (0.2 ) — (0.6 ) (0.8 ) Acquisition adjustments — 0.1 (16.4 ) (16.3 ) Balance at September 30, 2015 $ 7.4 $ 54.1 $ 10.9 $ 72.4 During the second quarter of 2015, we adjusted the preliminary goodwill recorded for Saet primarily to reflect the adjustments to the determination of fair value of acquired intangible assets. During the first half 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	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Other Intangible Assets Information regarding other intangible assets as of September 30, 2015 and December 31, 2014 follows: September 30, 2015 December 31, 2014 Weighted Average Useful Life Acquisition Cost Accumulated Amortization Net Acquisition Cost Accumulated Amortization Net (In millions) Non-contractual customer relationships 12.2 years $ 76.5 $ 17.3 $ 59.2 $ 77.3 $ 13.2 $ 64.1 Indefinite-lived tradenames * 18.7 — 18.7 14.0 — 14.0 Technology 19.1 years 16.1 0.7 15.4 8.2 0.1 8.1 Other 8.7 years 4.1 2.5 1.6 4.1 2.2 1.9 Total $ 115.4 $ 20.5 $ 94.9 $ 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Amortization expense $ 1.6 $ 1.0 $ 4.8 $ 3.4

Accrued Warranty Costs

Accrued Warranty Costs	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2015 2014 (In millions) Balance at January 1, $ 6.9 $ 5.4 Claims paid (2.6 ) (2.0 ) Warranty expense, net 1.8 1.9 Balance at September 30, $ 6.1 $ 5.3

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 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 September 30, 2015 September 30, 2015 December 31, 2014 (In millions) Senior Notes April 1, 2011 April 1, 2021 8.125 % $ 250.0 $ 250.0 Revolving credit — July 31, 2019 1.69 % 186.5 162.0 Term loan — July 31, 2019 2.31 % 28.9 28.8 Other, including capital leases Various Various Various 15.2 3.0 Total debt 480.6 443.8 Less current maturities 16.7 9.4 Total long-term debt, net of current portion $ 463.9 $ 434.4 On August 13, 2015, the Company entered into a Capital Lease Agreement (the “Lease Agreement”). The Lease Agreement provides the Company up to $50.0 million dollars for Capital Leases. As of September 30, 2015 the Company had utilized $10.3 million of the available balance. 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 $28.9 million has been borrowed and is outstanding as of September 30, 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 U.S. 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 $25.0 million . The following table represents fair value information of the Company's 8.125% Senior Notes due 2021, classified as Level 1, at September 30, 2015 and December 31, 2014 . The fair value was estimated using quoted market prices. September 30, 2015 December 31, 2014 (In millions) Carrying amount $ 250.0 $ 250.0 Fair value $ 261.9 $ 266.3

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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 nine months of 2015 and 2014 was 34.8% and 35.4% , respectively. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the nine-months ended September 30, 2015 , the Company recorded an increase to unrecognized tax benefits of approximately $0.3 million related to prior year tax positions and accrued interest. It is reasonably possible that within the next twelve months the amount of gross unrecognized tax benefits could be reduced by approximately $3.0 million as a result of the revaluation of existing uncertain tax positions arising from the closure of tax statutes.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation A summary of stock option activity as of September 30, 2015 and changes during the first nine months of 2015 is presented below: 2015 Number of Shares Weighted Average Weighted Aggregate (In whole shares) (In millions) Outstanding - beginning of year 143,500 $ 16.76 Granted — — Exercised (75,000 ) 14.94 Canceled or expired — — Outstanding - end of period 68,500 $ 18.75 1.9 years $ 0.9 Options exercisable 68,500 $ 18.75 1.9 years $ 0.9 A summary of restricted share activity for the nine months ended September 30, 2015 is as follows: 2015 Time-Based Performance-Based Number of Shares Weighted Average Number of Shares Weighted Average (In whole shares) (In whole shares) Outstanding - beginning of year 344,932 $ 33.55 28,000 $ 20.30 Granted 65,500 45.50 120,000 48.72 Vested (160,586 ) 30.97 (14,000 ) 20.30 Canceled or expired (21,501 ) 40.47 — — Outstanding - end of period 228,345 $ 38.14 134,000 $ 45.75 Total stock-based compensation expense included in selling, general and administrative expenses during the first nine months of 2015 and 2014 was $5.3 million and $4.2 million , respectively. As of September 30, 2015 , there was $12.8 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 1.8 years.

Commitments, Contingencies and

Commitments, Contingencies and Litigation Judgment	9 Months Ended
	Sep. 30, 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 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 Postret

Pension Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 2015 2014 2015 2014 (In millions) Service costs $ 0.7 $ 0.6 $ 1.9 $ 1.7 $ — $ — $ — $ — Interest costs 0.5 0.5 1.7 1.7 0.2 0.2 0.5 0.5 Expected return on plan assets (2.6 ) (2.5 ) (7.6 ) (7.6 ) — — — — Recognized net actuarial loss — — — — 0.2 0.1 0.5 0.4 Net periodic benefit (gains) costs $ (1.4 ) $ (1.4 ) $ (4.0 ) $ (4.2 ) $ 0.4 $ 0.3 $ 1.0 $ 0.9

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Cumulative Translation Adjustment Pension and Postretirement Benefits Total Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) Beginning balance $ (7.7 ) $ (8.6 ) $ (16.3 ) $ (5.1 ) $ (8.9 ) $ (14.0 ) Foreign currency translation adjustments (a) (0.9 ) — (0.9 ) (3.5 ) — (3.5 ) Recognition of actuarial loss (b) — 0.1 0.1 — 0.4 0.4 Ending balance $ (8.6 ) $ (8.5 ) $ (17.1 ) $ (8.6 ) $ (8.5 ) $ (17.1 ) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Cumulative Translation Adjustment Pension and Postretirement Benefits Total Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) Beginning balance $ 3.8 $ 0.6 $ 4.4 $ 2.8 $ 0.6 $ 3.4 Foreign currency translation adjustments (a) (4.9 ) — (4.9 ) (3.9 ) — (3.9 ) Recognition of actuarial loss (b) — 0.1 0.1 — 0.1 0.1 Ending balance $ (1.1 ) $ 0.7 $ (0.4 ) $ (1.1 ) $ 0.7 $ (0.4 ) (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, net the effect of tax adjustments.

Weighted-Average Number of Shar

Weighted-Average Number of Shares Used in Computing Earnings Per Share	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In whole shares) Weighted average basic shares outstanding 12,288,392 12,133,153 12,228,721 12,081,787 Plus dilutive impact of employee stock awards 109,976 235,242 186,352 276,021 Weighted average diluted shares outstanding 12,398,368 12,368,395 12,415,073 12,357,808 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 and nine months ended September 30, 2015 and 2014 , there were no anti-dilutive shares.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On October 30, 2015, the Company's Board of Directors declared a quarterly dividend of $0.125 per common share. The dividend will be paid on November 30, 2015 to shareholders of record as of the close of business on November 16, 2015 and will result in a cash outlay of approximately $1.6 million .

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 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 Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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, 2017, including interim periods within that reporting period. 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 new guidance will only impact the presentation of the Company's financial position and is not expected to materially affect the Company's results of operations or other financial statement disclosures. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." The amendment requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. This ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. This ASU is effective for fiscal years after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied prospectively, and the impact of adoption will be dependent on the nature of measurement period adjustments that may be necessary.

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Results by business segment	Results by business segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Net sales: Supply Technologies $ 143.1 $ 143.4 $ 444.7 $ 420.2 Assembly Components 149.3 121.6 429.6 351.7 Engineered Products 72.0 79.6 242.1 233.8 $ 364.4 $ 344.6 $ 1,116.4 $ 1,005.7 Income before income taxes: Supply Technologies $ 13.0 $ 12.2 $ 40.2 $ 32.7 Assembly Components 17.7 11.0 41.9 31.3 Engineered Products 4.3 11.5 15.7 32.8 Total segment operating income 35.0 34.7 97.8 96.8 Corporate costs (7.6 ) (8.3 ) (20.5 ) (22.1 ) Interest expense (7.0 ) (6.5 ) (20.7 ) (19.4 ) Income before income taxes $ 20.4 $ 19.9 $ 56.6 $ 55.3 September 30, 2015 December 31, 2014 (In millions) Identifiable assets: Supply Technologies $ 286.4 $ 277.6 Assembly Components 360.6 340.5 Engineered Products 249.6 246.9 General corporate 118.5 109.2 $ 1,015.1 $ 974.2

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of acquisitions	The following table summarizes the Company's recent acquisitions: Description Date of Transaction Purchase Consideration Acquired Segment (In millions) Saet S.p.A December 4, 2014 $ 22.1 * 100% of equity Engineered Products A leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee, and head quartered in Turin, Italy. Autoform Tool & Manufacturing October 10, 2014 $ 48.9 * 100% of equity Assembly Components A supplier of high pressure fuel lines and fuel rails used in Gasoline Direct Injection systems across a large number of engine platforms located in Angola, Indiana. Apollo Group Limited June 10, 2014 $ 6.5 * 100% of equity Supply Technologies A supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide located in West Midlands, England. * Purchase consideration is net of cash acquired.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Accounts receivable sold $ 27.7 $ 23.9 $ 89.8 $ 70.1 Loss on sale of accounts receivable $ (0.2 ) $ (0.1 ) $ (0.5 ) $ (0.3 )

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Components of inventory	The components of inventory consist of the following: September 30, 2015 December 31, 2014 (In millions) Finished goods $ 143.8 $ 146.0 Work in process 36.8 19.8 Raw materials and supplies 67.2 72.6 Inventories, net $ 247.8 $ 238.4

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill by segment for the periods ended September 30, 2015 and December 31, 2014 were as follows: Supply Technologies Assembly Components Engineered Products Total (In millions) Balance at January 1, 2014 $ 6.4 $ 49.0 $ 5.0 $ 60.4 Acquisitions 0.7 5.0 23.2 28.9 Foreign currency translation 0.5 — (0.3 ) 0.2 Balance at December 31, 2014 7.6 54.0 27.9 89.5 Foreign currency translation (0.2 ) — (0.6 ) (0.8 ) Acquisition adjustments — 0.1 (16.4 ) (16.3 ) Balance at September 30, 2015 $ 7.4 $ 54.1 $ 10.9 $ 72.4

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Information regarding other intangible assets as of September 30, 2015 and December 31, 2014 follows: September 30, 2015 December 31, 2014 Weighted Average Useful Life Acquisition Cost Accumulated Amortization Net Acquisition Cost Accumulated Amortization Net (In millions) Non-contractual customer relationships 12.2 years $ 76.5 $ 17.3 $ 59.2 $ 77.3 $ 13.2 $ 64.1 Indefinite-lived tradenames * 18.7 — 18.7 14.0 — 14.0 Technology 19.1 years 16.1 0.7 15.4 8.2 0.1 8.1 Other 8.7 years 4.1 2.5 1.6 4.1 2.2 1.9 Total $ 115.4 $ 20.5 $ 94.9 $ 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 September 30, 2015 and December 31, 2014 follows: September 30, 2015 December 31, 2014 Weighted Average Useful Life Acquisition Cost Accumulated Amortization Net Acquisition Cost Accumulated Amortization Net (In millions) Non-contractual customer relationships 12.2 years $ 76.5 $ 17.3 $ 59.2 $ 77.3 $ 13.2 $ 64.1 Indefinite-lived tradenames * 18.7 — 18.7 14.0 — 14.0 Technology 19.1 years 16.1 0.7 15.4 8.2 0.1 8.1 Other 8.7 years 4.1 2.5 1.6 4.1 2.2 1.9 Total $ 115.4 $ 20.5 $ 94.9 $ 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In millions) Amortization expense $ 1.6 $ 1.0 $ 4.8 $ 3.4

Accrued Warranty Costs (Tables)

Accrued Warranty Costs (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2015 2014 (In millions) Balance at January 1, $ 6.9 $ 5.4 Claims paid (2.6 ) (2.0 ) Warranty expense, net 1.8 1.9 Balance at September 30, $ 6.1 $ 5.3

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2015 September 30, 2015 December 31, 2014 (In millions) Senior Notes April 1, 2011 April 1, 2021 8.125 % $ 250.0 $ 250.0 Revolving credit — July 31, 2019 1.69 % 186.5 162.0 Term loan — July 31, 2019 2.31 % 28.9 28.8 Other, including capital leases Various Various Various 15.2 3.0 Total debt 480.6 443.8 Less current maturities 16.7 9.4 Total long-term debt, net of current portion $ 463.9 $ 434.4
Fair value of debt	The following table represents fair value information of the Company's 8.125% Senior Notes due 2021, classified as Level 1, at September 30, 2015 and December 31, 2014 . The fair value was estimated using quoted market prices. September 30, 2015 December 31, 2014 (In millions) Carrying amount $ 250.0 $ 250.0 Fair value $ 261.9 $ 266.3

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock option activity	A summary of stock option activity as of September 30, 2015 and changes during the first nine months of 2015 is presented below: 2015 Number of Shares Weighted Average Weighted Aggregate (In whole shares) (In millions) Outstanding - beginning of year 143,500 $ 16.76 Granted — — Exercised (75,000 ) 14.94 Canceled or expired — — Outstanding - end of period 68,500 $ 18.75 1.9 years $ 0.9 Options exercisable 68,500 $ 18.75 1.9 years $ 0.9
Summary of restricted share activity	A summary of restricted share activity for the nine months ended September 30, 2015 is as follows: 2015 Time-Based Performance-Based Number of Shares Weighted Average Number of Shares Weighted Average (In whole shares) (In whole shares) Outstanding - beginning of year 344,932 $ 33.55 28,000 $ 20.30 Granted 65,500 45.50 120,000 48.72 Vested (160,586 ) 30.97 (14,000 ) 20.30 Canceled or expired (21,501 ) 40.47 — — Outstanding - end of period 228,345 $ 38.14 134,000 $ 45.75

Pension Plans and Other Postr36

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 2015 2014 2015 2014 (In millions) Service costs $ 0.7 $ 0.6 $ 1.9 $ 1.7 $ — $ — $ — $ — Interest costs 0.5 0.5 1.7 1.7 0.2 0.2 0.5 0.5 Expected return on plan assets (2.6 ) (2.5 ) (7.6 ) (7.6 ) — — — — Recognized net actuarial loss — — — — 0.2 0.1 0.5 0.4 Net periodic benefit (gains) costs $ (1.4 ) $ (1.4 ) $ (4.0 ) $ (4.2 ) $ 0.4 $ 0.3 $ 1.0 $ 0.9

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Changes in accumulated comprehensive income (loss)	The components of and changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Cumulative Translation Adjustment Pension and Postretirement Benefits Total Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) Beginning balance $ (7.7 ) $ (8.6 ) $ (16.3 ) $ (5.1 ) $ (8.9 ) $ (14.0 ) Foreign currency translation adjustments (a) (0.9 ) — (0.9 ) (3.5 ) — (3.5 ) Recognition of actuarial loss (b) — 0.1 0.1 — 0.4 0.4 Ending balance $ (8.6 ) $ (8.5 ) $ (17.1 ) $ (8.6 ) $ (8.5 ) $ (17.1 ) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Cumulative Translation Adjustment Pension and Postretirement Benefits Total Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) Beginning balance $ 3.8 $ 0.6 $ 4.4 $ 2.8 $ 0.6 $ 3.4 Foreign currency translation adjustments (a) (4.9 ) — (4.9 ) (3.9 ) — (3.9 ) Recognition of actuarial loss (b) — 0.1 0.1 — 0.1 0.1 Ending balance $ (1.1 ) $ 0.7 $ (0.4 ) $ (1.1 ) $ 0.7 $ (0.4 ) (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, net the effect of tax adjustments.

Weighted-Average Number of Sh38

Weighted-Average Number of Shares Used in Computing Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (In whole shares) Weighted average basic shares outstanding 12,288,392 12,133,153 12,228,721 12,081,787 Plus dilutive impact of employee stock awards 109,976 235,242 186,352 276,021 Weighted average diluted shares outstanding 12,398,368 12,368,395 12,415,073 12,357,808

Segments (Schedule of Segment I

Segments (Schedule of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Net sales:
Net sales	$ 364.4	$ 344.6	$ 1,116.4	$ 1,005.7
Income before income taxes:
Total segment operating income	27.4	26.4	77.3	74.7
Interest expense	(7)	(6.5)	(20.7)	(19.4)
Income before income taxes	20.4	19.9	56.6	55.3
Identifiable assets:
Identifiable assets	1,015.1		1,015.1		$ 974.2
Operating Segments [Member]
Net sales:
Net sales	364.4	344.6	1,116.4	1,005.7
Income before income taxes:
Total segment operating income	35	34.7	97.8	96.8
Operating Segments [Member] | Supply Technologies [Member]
Net sales:
Net sales	143.1	143.4	444.7	420.2
Income before income taxes:
Total segment operating income	13	12.2	40.2	32.7
Identifiable assets:
Identifiable assets	286.4		286.4		277.6
Operating Segments [Member] | Assembly Components [Member]
Net sales:
Net sales	149.3	121.6	429.6	351.7
Income before income taxes:
Total segment operating income	17.7	11	41.9	31.3
Identifiable assets:
Identifiable assets	360.6		360.6		340.5
Operating Segments [Member] | Engineered Products [Member]
Net sales:
Net sales	72	79.6	242.1	233.8
Income before income taxes:
Total segment operating income	4.3	11.5	15.7	32.8
Identifiable assets:
Identifiable assets	249.6		249.6		246.9
Segment Reconciling Items [Member]
Income before income taxes:
Corporate costs	(7.6)	(8.3)	(20.5)	(22.1)
Interest expense	(7)	$ (6.5)	(20.7)	$ (19.4)
General corporate [Member]
Identifiable assets:
Identifiable assets	$ 118.5		$ 118.5		$ 109.2

Segments (Details)

Segments (Details)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisitions) (Details) - USD ($) $ in Millions	Dec. 04, 2014	Oct. 10, 2014	Jun. 10, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Purchase consideration				$ 0	$ 5.4
Saet S.p.A [Member] | Engineered Products [Member]
Business Acquisition [Line Items]
Purchase consideration	$ 22.1
Percentage of equity acquired	100.00%
Autoform Tool & Manufacturing [Member] | Assembly Components [Member]
Business Acquisition [Line Items]
Purchase consideration		$ 48.9
Percentage of equity acquired		100.00%
Apollo Group Limited [Member]
Business Acquisition [Line Items]
Purchase consideration			$ 6.5
Apollo Group Limited [Member] | Supply Technologies [Member]
Business Acquisition [Line Items]
Purchase consideration			$ 6.5
Percentage of equity acquired			100.00%

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jun. 10, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Purchase consideration			$ 0	$ 5.4
Goodwill		$ 72.4	72.4		$ 89.5	$ 60.4
Decrease to goodwill from acquisition adjustments			16.3
Apollo Group Limited [Member]
Business Acquisition [Line Items]
Contingent consideration, based on achievement of certain EBITDA targets	$ 2.4	1.9	$ 1.9
Contingent consideration, measurement period for EBITDA targets	2 years
Contingent consideration, fair value at date of acquisition	$ 1.1
Purchase consideration	$ 6.5
Saet S.p.A [Member]
Business Acquisition [Line Items]
Goodwill					$ 23.2
Decrease to goodwill from acquisition adjustments		16.4
Saet S.p.A [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Increase in intangible assets from acquisition adjustments		8.7
Saet S.p.A [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Increase in intangible assets from acquisition adjustments		$ 4.7

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Receivables [Abstract]
Accounts receivable sold	$ 27.7	$ 23.9	$ 89.8	$ 70.1
Loss on sale of accounts receivable	$ (0.2)	$ (0.1)	$ (0.5)	$ (0.3)

Inventories (Components of Inve

Inventories (Components of Inventory) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Components of inventory
Finished goods	$ 143.8	$ 146
Work in process	36.8	19.8
Raw materials and supplies	67.2	72.6
Inventories, net	$ 247.8	$ 238.4

Goodwill (Change in Goodwill) (

Goodwill (Change in Goodwill) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 89.5	$ 60.4
Acquisitions		28.9
Foreign currency translation	(0.8)	0.2
Acquisition adjustments	(16.3)
Goodwill, end of period	72.4	89.5
Supply Technologies [Member] | Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	7.6	6.4
Acquisitions		0.7
Foreign currency translation	(0.2)	0.5
Acquisition adjustments	0
Goodwill, end of period	7.4	7.6
Assembly Components [Member] | Operating Segments [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	54.1	54
Engineered Products [Member] | Operating Segments [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	27.9	5
Acquisitions		23.2
Foreign currency translation	(0.6)	(0.3)
Acquisition adjustments	(16.4)
Goodwill, end of period	$ 10.9	$ 27.9

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Acquisition Costs, Total	$ 115.4	$ 103.6
Accumulated Amortization	20.5	15.5
Net, Total	94.9	88.1
Indefinite-lived tradenames [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Acquisition Costs, Indefinite-lived	$ 18.7	14
Non-contractual customer relationships [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	12 years 2 months 12 days
Acquisition Costs, Finite-lived	$ 76.5	77.3
Accumulated Amortization	17.3	13.2
Net, Finite-lived	$ 59.2	64.1
Technology [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	19 years 1 month 6 days
Acquisition Costs, Finite-lived	$ 16.1	8.2
Accumulated Amortization	0.7	0.1
Net, Finite-lived	$ 15.4	8.1
Other [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	8 years 8 months 12 days
Acquisition Costs, Finite-lived	$ 4.1	4.1
Accumulated Amortization	2.5	2.2
Net, Finite-lived	$ 1.6	$ 1.9

Other Intangible Assets (Amorti

Other Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1.6	$ 1	$ 4.8	$ 3.4

Accrued Warranty Costs (Details

Accrued Warranty Costs (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Changes in product warranty liability [Roll Forward]
Balance at beginning of period	$ 6.9	$ 5.4
Claims paid	(2.6)	(2)
Warranty expense, net	1.8	1.9
Balance at end of period	$ 6.1	$ 5.3

Financing Arrangements (Schedul

Financing Arrangements (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 480.6	$ 443.8
Less current maturities	16.7	9.4
Total long-term debt, net of current portion	$ 463.9	434.4
Revolving credit [Member]
Debt Instrument [Line Items]
Interest rate at end of period	1.69%
Total debt	$ 186.5	162
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate at end of period	2.31%
Total debt	$ 28.9	28.8
8.125% senior notes due 2021 [Member]
Debt Instrument [Line Items]
Stated interest rate	8.125%
Total debt	$ 250	250
Other [Member]
Debt Instrument [Line Items]
Total debt	$ 15.2	$ 3

Financing Arrangements (Fair Va

Financing Arrangements (Fair Value of Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount	$ 480.6	$ 443.8
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	$ 261.9	$ 266.3

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($)	Mar. 12, 2015	Jul. 31, 2014	Sep. 30, 2015	Aug. 13, 2015	Oct. 23, 2014
8.125% senior notes due 2021 [Member]
Line of Credit Facility [Line Items]
Stated interest rate			8.125%
Lease Agreement [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 50,000,000
Amount drawn			$ 10,300,000
Amended Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 230,000,000			$ 230,000,000
Inventory advance rate percentage					50.00%
Option to increase availability		25,000,000
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
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		25,000,000
Amended Credit Agreement [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 16,100,000
Term of debt instrument		7 years
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%
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%
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%
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%
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%)
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%)
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%)
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%
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%
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%
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%
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%
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%
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
Amount drawn	$ 22,000,000
Inventory advance rate percentage	60.00%
Inventory advance rate percentage to be reduced to	50.00%
Term over which inventory advance rate percentage reduces	36 months
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			$ 28,900,000		$ 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) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	34.80%	35.40%
Increase to unrecognized tax benefits	$ 0.3
Decrease in gross unrecognized tax benefits in next twelve months	$ 3

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares | shares	143,500
Granted, number of shares | shares	0
Exercised, number of shares | shares	(75,000)
Canceled or expired, number of shares | shares	0
Outstanding - end of period, number of shares | shares	68,500
Options exercisable, number of shares | shares	68,500
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)	14.94
Canceled or Expired, Weighted Average Exercise Price (in dollars per share)	0
Outstanding - end of period, Weighted Average Exercise Price (in dollars per share)	18.75
Options exercisable, Weighted Average Exercise Price (in dollars per share)	$ 18.75
Outstanding - end of period, Weighted Average Remaining Contractual Term	1 year 10 months 24 days
Options exercisable, Weighted Average Remaining Contractual Term	1 year 10 months 24 days
Outstanding - end of period, Aggregate Intrinsic Value | $	$ 0.9
Options exercisable, Aggregate Intrinsic Value | $	$ 0.9

Stock-Based Compensation (Sum54

Stock-Based Compensation (Summary of Restricted Share Activity) (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Time-Based [Member]
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares | shares	344,932
Granted, number of shares | shares	65,500
Vested, number of shares | shares	(160,586)
Canceled or expired, number of shares | shares	(21,501)
Outstanding - end of period, number of shares | shares	228,345
Weighted Average Grant Date Fair Value [Roll Forward]
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)	45.50
Vested, weighted average grant date fair value (in dollars per share)	30.97
Canceled or expired, weighted average grant date fair value (in dollars per share)	40.47
Outstanding - end of period, weighted average grant date fair value (in dollars per share)	$ 38.14
Performance-Based [Member]
Number of Shares [Roll Forward]
Outstanding - beginning of year, number of shares | shares	28,000
Granted, number of shares | shares	120,000
Vested, number of shares | shares	(14,000)
Canceled or expired, number of shares | shares	0
Outstanding - end of period, number of shares | shares	134,000
Weighted Average Grant Date Fair Value [Roll Forward]
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)	48.72
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 period, weighted average grant date fair value (in dollars per share)	$ 45.75

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	$ 5.3	$ 4.2
Unrecognized compensation cost related to non-vested stock-based compensation	$ 12.8
Weighted average period	1 year 9 months 18 days

Commitments, Contingencies an56

Commitments, Contingencies and Litigation Judgment (Details) - TMK IPSCO [Member] - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2013	May. 31, 2013
Loss Contingencies [Line Items]
Direct damages sought		$ 10
Damages awarded	$ 5.2
Additional damages sought	$ 3.8

Pension Plans and Other Postr57

Pension Plans and Other Postretirement Benefits (Components of net periodic benefit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Benefits [Member]
Components of net periodic benefit cost
Service costs	$ 0.7	$ 0.6	$ 1.9	$ 1.7
Interest costs	0.5	0.5	1.7	1.7
Expected return on plan assets	(2.6)	(2.5)	(7.6)	(7.6)
Recognized net actuarial loss	0	0	0	0
Net periodic benefit (gains) costs	(1.4)	(1.4)	(4)	(4.2)
Postretirement Benefits [Member]
Components of net periodic benefit cost
Service costs	0	0	0	0
Interest costs	0.2	0.2	0.5	0.5
Expected return on plan assets	0	0	0	0
Recognized net actuarial loss	0.2	0.1	0.5	0.4
Net periodic benefit (gains) costs	$ 0.4	$ 0.3	$ 1	$ 0.9

Accumulated Other Comprehensi58

Accumulated Other Comprehensive Income (Loss) (Components of accumulated comprehensive loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (14)
Ending balance	$ (17.1)		(17.1)
Cumulative Translation Adjustment [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(7.7)	$ 3.8	(5.1)	$ 2.8
Foreign currency translation adjustments	(0.9)	(4.9)	(3.5)	(3.9)
Recognition of actuarial loss	0	0	0	0
Ending balance	(8.6)	(1.1)	(8.6)	(1.1)
Pension and Postretirement Benefits [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(8.6)	0.6	(8.9)	0.6
Foreign currency translation adjustments	0	0	0	0
Recognition of actuarial loss	0.1	0.1	0.4	0.1
Ending balance	(8.5)	0.7	(8.5)	0.7
Accumulated Other Comprehensive Income [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(16.3)	4.4	(14)	3.4
Foreign currency translation adjustments	(0.9)	(4.9)	(3.5)	(3.9)
Recognition of actuarial loss	0.1	0.1	0.4	0.1
Ending balance	$ (17.1)	$ (0.4)	$ (17.1)	$ (0.4)

Weighted-Average Number of Sh59

Weighted-Average Number of Shares Used in Computing Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Weighted average basic shares outstanding	12,288,392	12,133,153	12,228,721	12,081,787
Plus dilutive impact of employee stock awards	109,976	235,242	186,352	276,021
Weighted average diluted shares outstanding	12,398,368	12,368,395	12,415,073	12,357,808

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Quarterly dividend declared, per common share (in dollars per share)		$ 0.125	$ 0.125	$ 0.375	$ 0.25
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly dividend declared, per common share (in dollars per share)	$ 0.125
Quarterly dividend declared, cash outlay	$ 1.6