TriMas (TRS) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Entity Information [Line Items]
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common stock, $0.01 par value
Document Transition Report	false
Document Quarterly Report	true
Local Phone Number	631-5450
City Area Code	248
Entity Address, Postal Zip Code	48304
Entity Address, State or Province	MI
Entity Address, City or Town	Bloomfield Hills
Entity Address, Address Line Two	Suite 200
Entity Address, Address Line One	38505 Woodward Avenue
Entity File Number	001-10716
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Registrant Name	TRIMAS CORPORATION
Entity Central Index Key	0000842633
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		43,163,620
Entity Small Business	false
Entity Emerging Growth Company	false
Trading Symbol	TRS
Security Exchange Name	NASDAQ
Entity Tax Identification Number	38-2687639

Consolidated Balance Sheet Stat

Consolidated Balance Sheet Statement - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 421,140	$ 73,950
Receivables, net of reserves of approximately $2.4 million and $2.1 million as of March 31, 2021 and December 31, 2020, respectively	128,000	113,410
Inventories	151,820	149,380
Prepaid expenses and other current assets	17,960	15,090
Total current assets	718,920	351,830
Property and equipment, net	251,150	253,060
Operating lease right-of-use assets	36,450	37,820
Goodwill	300,610	303,970
Other intangibles, net	199,010	206,200
Deferred income taxes	15,700	19,580
Other assets	21,460	21,420
Total assets	1,543,300	1,193,880
Current liabilities:
Current portion, long-term debt	300,000	0
Accounts payable	76,650	69,910
Accrued liabilities	57,490	60,540
Operating lease liabilities, current portion	6,350	6,740
Total current liabilities	440,490	137,190
Long-term debt, net	390,190	346,290
Operating lease liabilities	30,520	31,610
Deferred income taxes	24,840	24,850
Other long-term liabilities	61,290	69,690
Total liabilities	947,330	609,630
Preferred stock $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None	0	0
Common stock, $0.01 par: Authorized 400,000,000 shares; Issued and outstanding: 43,199,240 shares at March 31, 2021 and 43,178,165 shares at December 31, 2020	430	430
Paid-in capital	747,080	749,050
Accumulated deficit	(146,550)	(159,610)
Accumulated other comprehensive loss	(4,990)	(5,620)
Total shareholders' equity	595,970	584,250
Total liabilities and shareholders' equity	$ 1,543,300	$ 1,193,880

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parentheticals - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Receivables, reserves (in dollars)	$ 2.4	$ 2.1
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Authorized shares	100,000,000	100,000,000
Preferred stock, Issued Shares	0	0
Preferred stock, outstanding Shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Authorized shares	400,000,000	400,000,000
Common Stock, Issued Shares	43,199,240	43,178,165
Common Stock, outstanding Shares	43,199,240	43,178,165

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net sales	$ 206,730	$ 182,790
Cost of sales	(155,400)	(136,420)
Gross profit	51,330	46,370
Selling, general and administrative expenses	(30,220)	(26,540)
Operating profit	21,110	19,830
Other expense, net:
Interest expense	(3,550)	(3,580)
Debt financing and related expenses	(200)	0
Other expense, net	(930)	(80)
Other expense, net	(4,680)	(3,660)
Income before income tax expense	16,430	16,170
Income tax expense	(3,370)	(3,050)
Net income	$ 13,060	$ 13,120
Basic earnings per share
Net income per share	$ 0.30	$ 0.30
Weighted average common shares—basic	43,185,007	44,201,053
Diluted earnings per share
Net income per share	$ 0.30	$ 0.30
Weighted average common shares—diluted	43,634,876	44,470,472

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 13,060	$ 13,120
Other comprehensive income (loss)
Defined benefit plans	150	150
Foreign currency translation	(3,420)	(8,260)
Derivative instruments	3,900	4,430
Total other comprehensive income (loss)	630	(3,680)
Total comprehensive income	$ 13,690	$ 9,440

Consolidated Statement of Cash

Consolidated Statement of Cash Flows Statement - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net Income	$ 13,060	$ 13,120
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:
Loss on dispositions of assets	20	50
Depreciation	7,850	6,660
Amortization of intangible assets	5,390	4,850
Amortization of debt issue costs	300	290
Deferred income taxes	2,200	2,570
Non-cash compensation expense	2,440	1,940
Debt financing and related expenses	200	0
Increase in receivables	(15,640)	(10,610)
Increase in inventories	(3,110)	(110)
Increase in prepaid expenses and other assets	(2,070)	(110)
Increase (decrease) in accounts payable and accrued liabilities	1,950	(14,780)
Other operating activities	3,150	(470)
Net cash provided by operating activities, net of acquisition impact	15,740	3,400
Cash Flows from Investing Activities:
Capital expenditures	(9,370)	(3,930)
Acquisition of businesses, net of cash acquired	0	(84,270)
Net proceeds from disposition of business, property and equipment	0	1,880
Net cash used for investing activities	(9,370)	(86,320)
Cash Flows from Financing Activities:
Proceeds from issuance of senior notes	400,000	0
Proceeds from borrowings on revolving credit facilities	0	198,290
Repayments of borrowings on revolving credit facilities	(48,620)	(48,330)
Debt financing fees	(6,150)	0
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(1,770)	(1,830)
Payments to purchase common stock	(2,640)	(31,570)
Net cash provided by financing activities	340,820	116,560
Increase for the period	347,190	33,640
At beginning of period	73,950	172,470
At end of period	421,140	206,110
Supplemental disclosure of cash flow information:
Cash paid for interest	520	370
Cash paid for taxes	$ 1,160	$ 1,850

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]
Balances at Dec. 31, 2019	$ 697,480	$ 450	$ 782,880	$ (79,850)	$ (6,000)
Net income	13,120			13,120
Other comprehensive income (loss)	(3,680)				(3,680)
Purchase of common stock	(31,570)	(20)	(31,550)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(1,830)		(1,830)
Non-cash compensation expense	1,940		1,940
Balances at Mar. 31, 2020	675,460	430	751,440	(66,730)	(9,680)
Balances at Dec. 31, 2020	584,250	430	749,050	(159,610)	(5,620)
Net income	13,060			13,060
Other comprehensive income (loss)	630				630
Purchase of common stock	(2,640)	0	(2,640)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(1,770)		(1,770)
Non-cash compensation expense	2,440		2,440
Balances at Mar. 31, 2021	$ 595,970	$ 430	$ 747,080	$ (146,550)	$ (4,990)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation TriMas Corporation ("TriMas" or the "Company"), and its consolidated subsidiaries, designs, engineers and manufactures innovative products under leading brand names for customers primarily in the consumer products, aerospace & defense, and industrial markets. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries and, in the opinion of management, contain all adjustments, including adjustments of a normal and recurring nature, necessary for a fair presentation of financial position and results of operations. The preparation of financial statements requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results may differ from such estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to the ongoing outbreak of the coronavirus and related variants (“COVID-19”). While the full impact of COVID-19 is unknown and cannot be reasonably estimated at this time, the Company has made appropriate accounting estimates based on the facts and circumstances available as of the reporting date. To the extent there are differences between these estimates and actual results, the Company's consolidated financial statements may be materially affected. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying consolidated financial statements and notes thereto should be read in conjunction with the Company's 2020 Annual Report on Form 10-K.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting PronouncementsIn December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ("ASU 2019-12"), which removes specific exceptions to the general principles in Topic 740, simplifies the accounting for income taxes and provides clarification of certain aspects of current guidance. The Company adopted ASU 2019-12 on January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on the Company's consolidated financial statements.

Revenue Revenue (Notes)

Revenue Revenue (Notes)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue The following table presents the Company’s disaggregated net sales by primary market served (dollars in thousands): Three months ended March 31, Customer Markets 2021 2020 Consumer Products $ 105,120 $ 76,270 Aerospace & Defense 44,610 48,920 Industrial 57,000 57,600 Total net sales $ 206,730 $ 182,790

Realignment Actions Realignment

Realignment Actions Realignment Actions (Notes)	3 Months Ended
	Mar. 31, 2021
Realignment Actions [Abstract]
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	Realignment ActionsIn the three months ended March 31, 2021, the Company executed certain realignment actions in response to reductions in current and expected future end market demand. First, the Company closed its Packaging segment's Union City, California manufacturing facility, consolidating the operation into its Indianapolis, Indiana and Woodridge, Illinois facilities. The Company also realigned its Aerospace segment footprint, consolidating certain activities previously in its Stanton, California facilities into its Tolleson, Arizona facility. In addition, the Company also reorganized its corporate office legal group. The Company recorded pre-tax realignment charges of $4.1 million during the three months ended March 31, 2021, including facility consolidation cost of approximately $1.5 million and employee separation costs of approximately $2.6 million. As of March 31, 2021, approximately $0.4 million of the severance costs had been paid. Approximately $1.8 million and $2.3 million of these charges were included in costs of sales and selling, general and administrative expenses, respectively, in the accompanying consolidated statement of income.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions 2020 Acquisitions On December 15, 2020, the Company acquired Affaba & Ferrari Srl ("Affaba & Ferrari"), which specializes in the design, development and manufacture of precision caps and closures for food & beverage and industrial product applications, for an aggregate amount of approximately $98.4 million, net of cash acquired, subject to normal course adjustments, which are expected to be completed by mid-2021. The fair value of assets acquired and liabilities assumed included approximately $49.1 million of goodwill, $35.1 million of intangible assets, $9.4 million of net working capital, $17.4 million of property and equipment, and $12.6 million of net deferred tax liabilities. Affaba & Ferrari, which is reported in the Company's Packaging segment, operates out of a highly automated manufacturing facility and support office located in Borgo San Giovanni, Italy and historically generated approximately $34 million in annual revenue. On April 17, 2020, the Company acquired the Rapak ® brand, including certain bag-in-box product lines and assets ("Rapak"), for an aggregate amount of approximately $11.4 million. Rapak, which is reported in the Company's Packaging segment, has manufacturing locations in Indiana and Illinois and historically generated approximately $30 million in annual revenue. On February 27, 2020, the Company acquired RSA Engineered Products ("RSA"), a manufacturer of complex, highly-engineered and proprietary ducting, connectors and related products for air management systems used in aerospace and defense applications, for an aggregate amount of approximately $83.7 million, net of cash acquired. The fair value of assets acquired and liabilities assumed included approximately $43.3 million of goodwill, $36.9 million of intangible assets, $10.1 million of net working capital, $2.1 million of property and equipment, and $8.7 million of net deferred tax liabilities. RSA, which is reported in the Company's Aerospace segment, is located in Simi Valley, California and historically generated approximately $30 million in annual revenue.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure	Cash and Cash Equivalents Cash and cash equivalents consists of the following components (dollars in thousands): March 31, December 31, Cash and cash equivalents - unrestricted $ 409,980 $ 62,790 Cash - restricted (a) 11,160 11,160 Total cash and cash equivalents $ 421,140 $ 73,950 __________________________ (a) Includes cash placed on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill for the three months ended March 31, 2021 are summarized as follows (dollars in thousands): Packaging Aerospace Specialty Products Total Balance, December 31, 2020 $ 234,560 $ 62,850 $ 6,560 $ 303,970 Foreign currency translation and other (3,360) — — (3,360) Balance, March 31, 2021 $ 231,200 $ 62,850 $ 6,560 $ 300,610 The Company amortizes its other intangible assets over periods ranging from one to 30 years. The gross carrying amounts and accumulated amortization of the Company's other intangibles are summarized below (dollars in thousands): As of March 31, 2021 As of December 31, 2020 Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Customer relationships, 5 – 12 years $ 121,760 $ (62,380) $ 122,970 $ (59,470) Customer relationships, 15 – 25 years 122,280 (63,870) 122,280 (62,450) Total customer relationships 244,040 (126,250) 245,250 (121,920) Technology and other, 1 – 15 years 57,100 (33,640) 57,180 (32,800) Technology and other, 17 – 30 years 43,300 (39,570) 43,300 (39,450) Total technology and other 100,400 (73,210) 100,480 (72,250) Indefinite-lived intangible assets: Trademark/Trade names 54,030 — 54,640 — Total other intangible assets $ 398,470 $ (199,460) $ 400,370 $ (194,170) Amortization expense related to intangible assets as included in the accompanying consolidated statement of operations is summarized as follows (dollars in thousands): Three months ended March 31, 2021 2020 Technology and other, included in cost of sales $ 950 $ 1,210 Customer relationships, included in selling, general and administrative expenses 4,440 3,640 Total amortization expense $ 5,390 $ 4,850

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following components (dollars in thousands): March 31, December 31, Finished goods $ 78,390 $ 78,010 Work in process 31,500 29,680 Raw materials 41,930 41,690 Total inventories $ 151,820 $ 149,380

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment consists of the following components (dollars in thousands): March 31, December 31, Land and land improvements $ 19,810 $ 20,040 Buildings 91,080 91,970 Machinery and equipment 389,390 384,010 500,280 496,020 Less: Accumulated depreciation 249,130 242,960 Property and equipment, net $ 251,150 $ 253,060 Depreciation expense as included in the accompanying consolidated statement of operations is as follows (dollars in thousands): Three months ended March 31, 2021 2020 Depreciation expense, included in cost of sales $ 7,560 $ 6,360 Depreciation expense, included in selling, general and administrative expenses 290 300 Total depreciation expense $ 7,850 $ 6,660

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-term debt	Long-term Debt The Company's long-term debt consists of the following (dollars in thousands): March 31, December 31, 4.125% Senior Notes due April 2029 $ 400,000 $ — 4.875% Senior Notes due October 2025 300,000 300,000 Credit Agreement — 50,450 Debt issuance costs (9,810) (4,160) 690,190 346,290 Less: Current portion, long-term debt 300,000 — Long-term debt, net $ 390,190 $ 346,290 Senior Notes due 2029 In March 2021, the Company issued $400.0 million aggregate principal amount of 4.125% senior notes due April 15, 2029 ("2029 Senior Notes") at par value in a private placement under Rule 144A of the Securities Act of 1933, as amended. The Company used the proceeds from the 2029 Senior Notes offering to pay fees and expenses of approximately $5.1 million related to the offering and pay fees and expenses of $1.0 million related to amending its existing credit agreement. In connection with the offering, the Company issued a redemption notice for all of its outstanding senior notes due October 2025, and redeemed the entire $300.0 million principal amount subsequent to quarter end (on April 15, 2021). The remaining cash proceeds from the 2029 Senior Notes were used for general corporate purposes, including repaying all outstanding revolving credit facility borrowings. The $5.1 million of fees and expenses related to the 2029 Senior Notes were capitalized as debt issuance costs. The 2029 Senior Notes accrue interest at a rate of 4.125% per annum, payable semi-annually in arrears on April 15 and October 15, commencing on October 15, 2021. The payment of principal and interest is jointly and severally guaranteed, on a senior unsecured basis, by certain subsidiaries of the Company (each a "Guarantor" and collectively the "Guarantors"). The 2029 Senior Notes are pari passu in right of payment with all existing and future senior indebtedness and effectively subordinated to all existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness. Prior to April 15, 2024, the Company may redeem up to 40% of the principal amount of the 2029 Senior Notes at a redemption price of 104.125% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, with the net cash proceeds of one or more equity offerings provided that each such redemption occurs within 90 days of the date of closing of each such equity offering. In addition, prior to April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, plus a "make whole" premium. On or after April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the twelve-month period beginning on April 15 of the years indicated below: Year Percentage 2024 102.063 % 2025 101.031 % 2026 and thereafter 100.000 % Senior Notes due 2025 In September 2017, the Company issued $300.0 million aggregate principal amount of 4.875% senior notes due October 15, 2025 ("2025 Senior Notes") at par value in a private placement under Rule 144A of the Securities Act of 1933, as amended. The 2025 Senior Notes accrue interest at a rate of 4.875% per annum, payable semi-annually in arrears on April 15 and October 15. The payment of principal and interest is jointly and severally guaranteed, on a senior unsecured basis, by certain subsidiaries of the Company (each a Guarantor and collectively the Guarantors). The 2025 Senior Notes are pari passu in right of payment with all existing and future senior indebtedness and effectively subordinated to all existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness. In connection with the issuance of the 2029 Senior Notes, the Company issued a notice to redeem all of the outstanding 2025 Senior Notes, as permitted under the indenture, at a price of 102.438% of the principal amount. The redemption was completed subsequent to quarter end, on April 15, 2021. See Note 20, " Subsequent Events ," for further information on the 2025 Senior Note redemption. Credit Agreement In March 2021, the Company amended its existing credit agreement ("Credit Agreement") in connection with the issuance of the 2029 Senior Notes to extend the maturity date. The Company incurred fees and expenses of approximately $1.0 million related to the amendment, all of which was capitalized as debt issuance costs. The Company also recorded approximately $0.2 million of non-cash expense related to the write-off of previously capitalized deferred financing fees. Below is a summary of key terms under the Credit Agreement as of March 31, 2021, compared to the key terms prior to the amendment (showing gross availability): Instrument Amount Maturity Interest Rate Credit Agreement (as amended) Senior secured revolving credit facility $300.0 3/29/2026 LIBOR (a) plus 1.500% (b) Credit Agreement (prior to amending) Senior secured revolving credit facility $300.0 9/20/2022 LIBOR (a) plus 1.500% (b) __________________________ (a) London Interbank Offered Rate ("LIBOR") (a) The interest rate spread is based upon the leverage ratio, as defined, as of the most recent determination date. The Credit Agreement also provides incremental revolving credit facility commitments in an amount not to exceed the greater of $200.0 million and an amount such that, after giving effect to such incremental commitments and the incurrence of any other indebtedness substantially simultaneously with the making of such commitments, the senior secured net leverage ratio, as defined, is no greater than 3.00 to 1.00. The terms and conditions of any incremental revolving credit facility commitments must be no more favorable than the existing credit facility. The Company's revolving credit facility allows for the issuance of letters of credit, not to exceed $40.0 million in aggregate. The Company places cash on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit; therefore, as of March 31, 2021 and December 31, 2020, the Company had no letters of credit issued against its revolving credit facility. See Note 6, "Cash and Cash Equivalents," for further information on its cash deposit. At March 31, 2021, the Company had no amounts outstanding under its revolving credit facility and had $300.0 million potentially available after giving effect to letters of credit issued and outstanding. At December 31, 2020, the Company had $50.5 million outstanding under its revolving credit facility and had approximately $249.5 million potentially available. The Company's borrowing capacity was not reduced by leverage restrictions contained in the Credit Agreement as of March 31, 2021 and December 31, 2020. The debt under the Credit Agreement is an obligation of the Company and certain of its domestic subsidiaries and is secured by substantially all of the assets of such parties. Borrowings under the $125.0 million (equivalent) foreign currency sub limit of the $300.0 million senior secured revolving credit facility are secured by a cross-guarantee amongst, and a pledge of the assets of, the foreign subsidiary borrowers that are a party to the agreement. The Credit Agreement also contains various negative and affirmative covenants and other requirements affecting the Company and its subsidiaries, including the ability, subject to certain exceptions and limitations, to incur debt, liens, mergers, investments, loans, advances, guarantee obligations, acquisitions, assets dispositions, sale-leaseback transactions, hedging agreements, dividends and other restricted payments, transactions with affiliates, restrictive agreements and amendments to charters, bylaws, and other material documents. The terms of the Credit Agreement also require the Company and its restricted subsidiaries to meet certain restrictive financial covenants and ratios computed quarterly, including a maximum total net leverage ratio (total consolidated indebtedness plus outstanding amounts under the accounts receivable securitization facility, less the aggregate amount of certain unrestricted cash and unrestricted permitted investments, as defined, over consolidated EBITDA, as defined), a maximum senior secured net leverage ratio (total consolidated senior secured indebtedness, less the aggregate amount of certain unrestricted cash and unrestricted permitted investments, as defined, over consolidated EBITDA, as defined) and a minimum interest expense coverage ratio (consolidated EBITDA, as defined, over the sum of consolidated cash interest expense, as defined, and preferred dividends, as defined). At March 31, 2021, the Company was in compliance with its financial covenants contained in the Credit Agreement. Fair Value of Debt The valuations of the Senior Notes and revolving credit facility were determined based on Level 2 inputs under the fair value hierarchy, as defined. The carrying amounts and fair values were as follows (dollars in thousands): March 31, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value 4.125% Senior Notes due April 2029 $ 400,000 $ 400,000 $ — $ — 4.875% Senior Notes due October 2025 300,000 307,500 300,000 305,630 Revolving credit facility — — 50,450 50,450

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Derivatives Designated as Hedging Instruments The Company uses cross-currency swap contracts to hedge its net investment in Euro-denominated assets against future volatility in the exchange rate between the U.S. dollar and the Euro. By doing so, the Company synthetically converts a portion of its U.S. dollar-based long-term debt into Euro-denominated long-term debt. At inception, the Company designates its cross-currency swaps as net investment hedges. As of March 31 2021, the Company had cross-currency swap agreements at notional amounts totaling $200.0 million, which declines to $25.0 million over various contract periods ending between October 15, 2023 and April 15, 2027. Under the terms of the agreements, the Company is to receive net interest payments at fixed rates ranging from approximately 0.8% to 2.9% of the notional amounts. As of March 31, 2021 and December 31, 2020, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands): Asset / (Liability) Derivatives Derivatives designated as hedging instruments Balance Sheet Caption March 31, December 31, Net Investment Hedges Cross-currency swaps Other assets $ 190 $ — Cross-currency swaps Other long-term liabilities — (5,000) The following table summarizes the income recognized in accumulated other comprehensive income (loss) ("AOCI") on derivative contracts designated as hedging instruments as of March 31, 2021 and December 31, 2020, and the amounts reclassified from AOCI into earnings for the three months ended March 31, 2021 and 2020 (dollars in thousands): Amount of Income (Loss) Recognized Amount of Income (Loss) Reclassified Three months ended As of As of December 31, 2020 Location of Income (Loss) Reclassified from AOCI into Earnings (Effective Portion) 2021 2020 Net Investment Hedges Cross-currency swaps $ 320 $ (3,580) Other expense, net $ — $ — Over the next 12 months, the Company does not expect to reclassify any pre-tax deferred amounts from AOCI into earnings. Derivatives Not Designated as Hedging Instruments As of March 31, 2021, the Company was party to foreign currency exchange forward contracts to economically hedge changes in foreign currency rates with notional amounts of approximately $132.7 million. The Company uses foreign exchange contracts to mitigate the risk associated with fluctuations in currency rates impacting cash flows related to certain of its receivables, payables and intercompany transactions denominated in foreign currencies. The foreign exchange contracts primarily mitigate currency exposures between the U.S. dollar and the Euro, British pound, Mexican peso and the Chinese yuan, and have various settlement dates through December 2021. These contracts are not designated as hedge instruments; therefore, gains and losses on these contracts are recognized each period directly into the consolidated statement of income. The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of income (dollars in thousands): Amount of Income (Loss) Recognized in Three months ended Location of Income (Loss) 2021 2020 Derivatives not designated as hedging instruments Foreign exchange contracts Other expense, net $ 4,020 $ (70) Fair Value of Derivatives The fair value of the Company's derivatives are estimated using an income approach based on valuation techniques to convert future amounts to a single, discounted amount. Estimates of the fair value of the Company's cross-currency swaps and foreign exchange contracts use observable inputs such as interest rate yield curves and forward currency exchange rates. Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 are shown below (dollars in thousands): Description Frequency Asset / (Liability) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2021 Cross-currency swaps Recurring $ 190 $ — $ 190 $ — Foreign exchange contracts Recurring $ 330 $ — $ 330 $ — December 31, 2020 Cross-currency swaps Recurring $ (5,000) $ — $ (5,000) $ — Foreign exchange contracts Recurring $ 140 $ — $ 140 $ —

Leases Leases (Notes)

Leases Leases (Notes)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	LeasesThe Company leases certain equipment and facilities under non-cancelable operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term. The components of lease expense are as follows (dollars in thousands): Three months ended March 31, 2021 2020 Operating lease cost $ 2,140 $ 1,650 Short-term, variable and other lease costs 430 310 Total lease cost $ 2,570 $ 1,960 Maturities of lease liabilities are as follows (dollars in thousands): Year ended December 31, Operating Leases (a) 2021 (excluding the three months ended March 31, 2021) $ 5,710 2022 7,300 2023 6,450 2024 5,560 2025 4,390 Thereafter 12,620 Total lease payments 42,030 Less: Imputed interest (5,160) Present value of lease liabilities $ 36,870 __________________________ (a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet. The weighted-average remaining lease term of the Company's operating leases as of March 31, 2021 is approximately 6.6 years. The weighted-average discount rate as of March 31, 2021 is approximately 4.3%. Cash paid for amounts included in the measurement of operating lease liabilities was approximately $2.2 million and $1.7 million during the three months ended March 31, 2021 and 2020, respectively, and is included in cash flows provided by operating activities in the consolidated statement of cash flows. Right-of-use assets obtained in exchange for lease liabilities were approximately $1.9 million and $2.9 million during the three months ended March 31, 2021 and 2020, respectively.

Other Long-term Liabilities Oth

Other Long-term Liabilities Other Long-term Liabilities (Notes)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	Other long-term liabilities Other long-term liabilities consist of the following components (dollars in thousands): March 31, December 31, Non-current asbestos-related liabilities $ 25,420 $ 26,170 Other long-term liabilities 35,870 43,520 Total other long-term liabilities $ 61,290 $ 69,690

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Asbestos As of March 31, 2021, the Company was a party to 347 pending cases involving an aggregate of 4,676 claimants primarily alleging personal injury from exposure to asbestos containing materials formerly used in gaskets (both encapsulated and otherwise) manufactured or distributed by its former Lamons division and certain other related subsidiaries for use primarily in the petrochemical, refining and exploration industries. The following chart summarizes the number of claims, number of claims filed, number of claims dismissed, number of claims settled, the average settlement amount per claim and the total defense costs, at the applicable date and for the applicable periods: Claims Claims filed Claims Claims Claims Average Total defense Three Months Ended March 31, 2021 4,655 62 35 6 4,676 $ 37,917 $ 530,000 Fiscal Year Ended December 31, 2020 4,759 219 287 36 4,655 $ 18,314 $ 2,130,000 In addition, the Company acquired various companies to distribute its products that had distributed gaskets of other manufacturers prior to acquisition. The Company believes that many of its pending cases relate to locations at which none of its gaskets were distributed or used. The Company may be subjected to significant additional asbestos-related claims in the future, and will aggressively defend or reasonably resolve, as appropriate. The cost of settling cases in which product identification can be made may increase, and the Company may be subjected to further claims in respect of the former activities of its acquired gasket distributors. The cost of claims varies as claims may be initially made in some jurisdictions without specifying the amount sought or by simply stating the requisite or maximum permissible monetary relief, and may be amended to alter the amount sought. The large majority of claims do not specify the amount sought. Of the 4,676 claims pending at March 31, 2021, 34 set forth specific amounts of damages (other than those stating the statutory minimum or maximum). At March 31, 2021, of the 34 claims that set forth specific amounts, there was one claim seeking more than $5 million for punitive damages. Below is a breakdown of the compensatory damages sought for those claims seeking specific amounts: Compensatory Range of damages sought (dollars in millions) $0.0 to $0.6 $0.6 to $5.0 $5.0+ Number of claims — 7 27 Relatively few claims have reached the discovery stage and even fewer claims have gone past the discovery stage. Total settlement costs (exclusive of defense costs) for all such cases, some of which were filed over 25 years ago, have been approximately $10.3 million. All relief sought in the asbestos cases is monetary in nature. Based on the settlements made to date and the number of claims dismissed or withdrawn for lack of product identification, the Company believes that the relief sought (when specified) does not bear a reasonable relationship to its potential liability. There has been significant volatility in the historical number of claim filings and costs to defend, with previous claim counts and spend levels much higher than current levels. Management believes this volatility was associated more with tort reform, plaintiff practices and state-specific legal dockets than the Company’s underlying asbestos-related exposures. From 2017 to 2019, however, the number of new claim filings, and costs to defend, had become much more consistent, ranging between 143 to 173 new claims per year and total defense costs ranging between $2.2 million and $2.3 million. The higher degree of consistency in census data and spend levels, as well as lower claim activity levels and an evolving defense strategy, has allowed the Company to more effectively and efficiently manage claims, making process or local counsel arrangement improvements where possible. Given the consistency of activity over a multi-year period, the Company believed a trend may have formed where it could be possible to reasonably estimate its future cash exposure for all asbestos-related activity with an adequate level of precision. As such, the Company commissioned an actuary to help evaluate the nature and predictability of its asbestos-related costs, and provide an actuarial range of estimates of future exposures. Based upon its review of the actuarial study, which was completed in June 2020 using data as of December 31, 2019 and which projected spend levels through a terminal year of 2064, the Company affirmed its belief that it now has the ability to reasonably estimate its future asbestos-related exposures for pending as well as unknown future claims. During the second quarter 2020, the Company elected to change its method of accounting for asbestos-related defense costs from accruing for probable and reasonably estimable defense costs associated with known claims expected to settle to accrue for all future defense costs for both known and unknown claims, which the Company now believes are reasonably estimable. The Company believes this change is preferable, as asbestos-related defense costs represent expenditures related to legacy activities that do not contribute to current or future revenue generating activities, and recording an estimate of the full liability for asbestos-related costs, where estimable with reasonable precision, provides a more complete assessment of the liability associated with resolving asbestos-related claims. This accounting change was reflected as a change in accounting estimate effected by a change in accounting principle. Following the change in accounting estimate, the Company’s liability for asbestos-related claims will be based on a study from the Company’s third-party actuary, the Company's review of the study, as well as the Company’s own review of asbestos claims and claim resolution activity. The study from the Company’s actuary, based on data as of December 31, 2019, provided for a range of possible future liability from $31.5 million to $43.3 million. The Company did not believe any amount within the range of potential outcomes represented a better estimate than another given the many factors and assumptions inherent in the projections, and therefore recorded a $23.4 million charge in second quarter 2020 to increase the liability estimate to $31.5 million, at the low-end of the range. As of March 31, 2021, the Company’s total asbestos-related liability is $27.9 million, and is included in accrued liabilities and other long-term liabilities, respectively, in the accompanying consolidated balance sheet. The Company’s primary insurance, which covered approximately 40% of historical costs related to settlement and defense of asbestos litigation, expired in November 2018, upon which the Company became solely responsible for defense costs and indemnity payments. The Company is party to a coverage-in-place agreement (entered into in 2006) with its first level excess carriers regarding the coverage to be provided to the Company for asbestos-related claims. The coverage-in-place agreement makes asbestos defense costs and indemnity insurance coverage available to the Company that might otherwise be disputed by the carriers and provides a methodology for the administration of such expenses. The Company will continue to be solely responsible for defense costs and indemnity payments prior to the commencement of coverage under this agreement, the duration of which would be subject to the scope of damage awards and settlements paid. Based upon the Company’s review of the actuarial study, the Company does not believe it is probable that it will reach the threshold of qualified future settlements required to commence excess carrier insurance coverage under the coverage-in-place agreement. Based upon the Company's experience to date, including the trend in annual defense and settlement costs incurred to date, and other available information (including the availability of excess insurance), the Company does not believe these cases will have a material adverse effect on its financial position, results of operations, or cash flows. Claims and Litigation The Company is subject to other claims and litigation in the ordinary course of business, but does not believe that any such claim or litigation will have a material adverse effect on its financial position and results of operations or cash flows.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information TriMas reports its operations in three segments: Packaging, Aerospace, and Specialty Products. Each of these segments has discrete financial information that is regularly evaluated by TriMas' president and chief executive officer (chief operating decision maker) in determining resource, personnel and capital allocation, as well as assessing strategy and performance. The Company utilizes its proprietary TriMas Business Model as its platform which is based upon a standardized set of processes to manage and drive results and strategy across its multi-industry businesses. Within each of the Company's reportable segments, there are no individual products or product families for which reported net sales accounted for more than 10% of the Company's consolidated net sales. See below for more information regarding the types of products and services provided within each reportable segment: Packaging – The Packaging segment, which consists primarily of the Rieke ® , Taplast, Affaba & Ferrari, Stolz and Rapak® brands, develops and manufactures a broad array of dispensing products (such as foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers), polymeric and steel caps and closures (such as food lids, flip-top closures, child resistance caps, beverage closures, drum and pail closures, flexible spouts, and agricultural closures), polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer products submarkets including, but not limited to, beauty and personal care, food and beverage, home care, and pharmaceutical and nutraceutical, as well as the industrial market. Aerospace – The Aerospace segment, which includes the Monogram Aerospace Fasteners ™ , Allfast Fastening Systems ® , Mac Fasteners ™ , RSA Engineered Products and Martinic Engineering ™ brands, develops, qualifies and manufactures highly-engineered, precision fasteners, tubular products and assemblies for fluid conveyance, and machined products and assemblies to serve the aerospace and defense market. Specialty Products – The Specialty Products segment, which includes the Norris Cylinder ™ and Arrow ® Engine brands, designs, manufactures and distributes highly-engineered steel cylinders, wellhead engines and compression systems for use within industrial markets. Segment activity is as follows (dollars in thousands): Three months ended 2021 2020 Net Sales Packaging $ 132,090 $ 100,050 Aerospace 44,610 48,920 Specialty Products 30,030 33,820 Total $ 206,730 $ 182,790 Operating Profit (Loss) Packaging $ 21,300 $ 18,280 Aerospace 4,500 5,080 Specialty Products 4,520 3,430 Corporate (9,210) (6,960) Total $ 21,110 $ 19,830

Equity Awards

Equity Awards	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity Awards	Equity Awards Stock Options The Company recognized no stock-based compensation expense related to stock options during the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, there was no unrecognized compensation costs related to stock options remaining. Information related to stock options at March 31, 2021 is as follows: Number of Weighted Average Option Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at January 1, 2021 150,000 $ 17.87 Granted — — Exercised (150,000) 17.87 Cancelled — — Expired — — Outstanding at March 31, 2021 — $ — — $ — Restricted Stock Units The Company awarded the following restricted stock units ("RSUs") during the three months ended March 31, 2021: • granted 113,504 RSUs to certain employees, which are subject only to a service condition and vest ratably over three years so long as the employee remains with the Company; • granted 21,112 RSUs to its non-employee independent directors, which fully vest one year from date of grant so long as the director and/or Company does not terminate the director's service prior to the vesting date; and • issued 450 RSUs related to director fee deferrals during the three months ended March 31, 2021 as certain of the Company's directors elected to defer all or a portion of their directors fees and to receive the amount in Company common stock at a future date. During 2021, the Company awarded 72,962 performance-based RSUs to certain Company key employees which vest three years from the grant date as long as the employee remains with the Company. These awards are earned 50% based upon the Company's achievement of an earnings per share compound annual growth rate ("EPS CAGR") metric over a period beginning January 1, 2021 and ending December 31, 2023. The remaining 50% of the awards are earned based on the Company's total shareholder return ("TSR") relative to the TSR of the common stock of a pre-defined industry peer-group, measured over the performance period. TSR is calculated as the Company's average closing stock price for the 20 trading days at the end of the performance period plus Company dividends, divided by the Company's average closing stock price for the 20 trading days prior to the start of the performance period. The Company estimates the grant-date fair value subject to a market condition using a Monte Carlo simulation model, using the following weighted average assumptions: risk-free rate of 0.28% and annualized volatility of 35.5%. Depending on the performance achieved for these two metrics, the amount of shares earned, if any, can vary for each metric from 0% of the target award to a maximum of 200% of the target award. For similar performance-based RSUs awarded in 2018, the Company attained 126.2% of the target on a weighted average basis, resulting in an increase of 25,993 shares during the three months ended March 31, 2021. Information related to RSUs at March 31, 2021 is as follows: Number of Unvested RSUs Weighted Average Grant Date Fair Value Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at January 1, 2021 784,968 $ 26.46 Granted 234,021 34.63 Vested (86,763) 22.88 Cancelled (1,847) 25.93 Outstanding at March 31, 2021 930,379 $ 28.85 1.3 $ 28,209,091 As of March 31, 2021, there was approximately $12.5 million of unrecognized compensation cost related to unvested RSUs that is expected to be recorded over a weighted average period of 2.4 years.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Net income is divided by the weighted average number of common shares outstanding during the period to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and RSUs. The following table summarizes the dilutive effect of RSUs and options to purchase common stock for the three months ended March 31, 2021 and 2020: Three months ended 2021 2020 Weighted average common shares—basic 43,185,007 44,201,053 Dilutive effect of restricted stock units 400,685 217,074 Dilutive effect of stock options 49,184 52,345 Weighted average common shares—diluted 43,634,876 44,470,472 In March 2020, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $250 million in the aggregate. The initial authorization, approved in November 2015, authorized up to $50 million of purchases in the aggregate of its common stock. In the three months ended March 31, 2021, the Company purchased 82,171 shares of its outstanding common stock for approximately $2.6 million. During the three months ended March 31, 2020, the Company purchased 1,253,650 shares of its outstanding common stock for approximately $31.6 million. As of March 31, 2021

Defined Benefit Plans

Defined Benefit Plans	3 Months Ended
	Mar. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Defined Benefit Plans	Defined Benefit Plans Net periodic pension benefit costs for the Company's defined benefit pension plans cover certain foreign employees, union hourly employees and salaried employees. The components of net periodic pension cost are as follows (dollars in thousands): Pension Plans Three months ended 2021 2020 Service costs $ 330 $ 320 Interest costs 200 240 Expected return on plan assets (390) (370) Amortization of net loss 230 220 Net periodic benefit cost $ 370 $ 410 The service cost component of net periodic benefit cost is recorded in cost of goods sold and selling, general and administrative expenses, while non-service cost components are recorded in other income (expense), net in the accompanying consolidated statement of income.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Notes)	3 Months Ended
	Mar. 31, 2021
Other Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Other Comprehensive Income (Loss) Changes in AOCI by component for the three months ended March 31, 2021 are summarized as follows, net of tax (dollars in thousands): Defined Benefit Plans Derivative Instruments Foreign Currency Translation Total Balance, December 31, 2020 $ (8,620) $ (3,580) $ 6,580 $ (5,620) Net unrealized gains (losses) arising during the period (a) — 3,900 (3,420) 480 Less: Net realized losses reclassified to net income (150) — — (150) Net current-period other comprehensive income (loss) 150 3,900 (3,420) 630 Balance, March 31, 2021 $ (8,470) $ 320 $ 3,160 $ (4,990) __________________________ (a) Derivative instruments, net of income tax of approximately $1.3 million. See Note 11, " Derivative Instruments ," for further details. Changes in AOCI by component for the three months ended March 31, 2020 are summarized as follows, net of tax (dollars in thousands): Defined Benefit Plans Derivative Instruments Foreign Currency Translation Total Balance, December 31, 2019 $ (9,930) $ 4,230 $ (300) $ (6,000) Net unrealized gains (losses) arising during the period (a) — 4,430 (8,260) (3,830) Less: Net realized losses reclassified to net income (150) — — (150) Net current-period other comprehensive income (loss) 150 4,430 (8,260) (3,680) Balance, March 31, 2020 $ (9,780) $ 8,660 $ (8,560) $ (9,680) __________________________ (a) Derivative instruments, net of income tax of approximately $1.5 million. See Note 11, " Derivative Instruments ," for further details.

Subsequent Event Subsequent Eve

Subsequent Event Subsequent Events (Notes)	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent EventsOn April 15, 2021, the Company completed the redemption of all of its outstanding 2025 Senior Notes, paying cash of $314.6 million to redeem the $300.0 million outstanding principal amount, plus a $7.3 million redemption premium and $7.3 million of accrued interest through the date of the redemption.

Revenue Revenue (Tables)

Revenue Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents the Company’s disaggregated net sales by primary market served (dollars in thousands): Three months ended March 31, Customer Markets 2021 2020 Consumer Products $ 105,120 $ 76,270 Aerospace & Defense 44,610 48,920 Industrial 57,000 57,600 Total net sales $ 206,730 $ 182,790

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents consists of the following components (dollars in thousands): March 31, December 31, Cash and cash equivalents - unrestricted $ 409,980 $ 62,790 Cash - restricted (a) 11,160 11,160 Total cash and cash equivalents $ 421,140 $ 73,950 __________________________ (a) Includes cash placed on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended March 31, 2021 are summarized as follows (dollars in thousands): Packaging Aerospace Specialty Products Total Balance, December 31, 2020 $ 234,560 $ 62,850 $ 6,560 $ 303,970 Foreign currency translation and other (3,360) — — (3,360) Balance, March 31, 2021 $ 231,200 $ 62,850 $ 6,560 $ 300,610
Schedule of Intangible Assets (excluding Goodwill) by Major Class	The Company amortizes its other intangible assets over periods ranging from one to 30 years. The gross carrying amounts and accumulated amortization of the Company's other intangibles are summarized below (dollars in thousands): As of March 31, 2021 As of December 31, 2020 Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Customer relationships, 5 – 12 years $ 121,760 $ (62,380) $ 122,970 $ (59,470) Customer relationships, 15 – 25 years 122,280 (63,870) 122,280 (62,450) Total customer relationships 244,040 (126,250) 245,250 (121,920) Technology and other, 1 – 15 years 57,100 (33,640) 57,180 (32,800) Technology and other, 17 – 30 years 43,300 (39,570) 43,300 (39,450) Total technology and other 100,400 (73,210) 100,480 (72,250) Indefinite-lived intangible assets: Trademark/Trade names 54,030 — 54,640 — Total other intangible assets $ 398,470 $ (199,460) $ 400,370 $ (194,170)
Schedule of Finite-Lived Intangible Assets, Amortization Expense	Amortization expense related to intangible assets as included in the accompanying consolidated statement of operations is summarized as follows (dollars in thousands): Three months ended March 31, 2021 2020 Technology and other, included in cost of sales $ 950 $ 1,210 Customer relationships, included in selling, general and administrative expenses 4,440 3,640 Total amortization expense $ 5,390 $ 4,850

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following components (dollars in thousands): March 31, December 31, Finished goods $ 78,390 $ 78,010 Work in process 31,500 29,680 Raw materials 41,930 41,690 Total inventories $ 151,820 $ 149,380

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consists of the following components (dollars in thousands): March 31, December 31, Land and land improvements $ 19,810 $ 20,040 Buildings 91,080 91,970 Machinery and equipment 389,390 384,010 500,280 496,020 Less: Accumulated depreciation 249,130 242,960 Property and equipment, net $ 251,150 $ 253,060
Depreciation Expense	Depreciation expense as included in the accompanying consolidated statement of operations is as follows (dollars in thousands): Three months ended March 31, 2021 2020 Depreciation expense, included in cost of sales $ 7,560 $ 6,360 Depreciation expense, included in selling, general and administrative expenses 290 300 Total depreciation expense $ 7,850 $ 6,660

Long-term Debt Long-term Debt (

Long-term Debt Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The Company's long-term debt consists of the following (dollars in thousands): March 31, December 31, 4.125% Senior Notes due April 2029 $ 400,000 $ — 4.875% Senior Notes due October 2025 300,000 300,000 Credit Agreement — 50,450 Debt issuance costs (9,810) (4,160) 690,190 346,290 Less: Current portion, long-term debt 300,000 — Long-term debt, net $ 390,190 $ 346,290 March 31, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value 4.125% Senior Notes due April 2029 $ 400,000 $ 400,000 $ — $ — 4.875% Senior Notes due October 2025 300,000 307,500 300,000 305,630 Revolving credit facility — — 50,450 50,450
Debt Instrument Redemption [Table Text Block]	On or after April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the twelve-month period beginning on April 15 of the years indicated below: Year Percentage 2024 102.063 % 2025 101.031 % 2026 and thereafter 100.000 %
Schedule of Long-term Debt Instruments	Below is a summary of key terms under the Credit Agreement as of March 31, 2021, compared to the key terms prior to the amendment (showing gross availability): Instrument Amount Maturity Interest Rate Credit Agreement (as amended) Senior secured revolving credit facility $300.0 3/29/2026 LIBOR (a) plus 1.500% (b) Credit Agreement (prior to amending) Senior secured revolving credit facility $300.0 9/20/2022 LIBOR (a) plus 1.500% (b) __________________________ (a) London Interbank Offered Rate ("LIBOR") (a) The interest rate spread is based upon the leverage ratio, as defined, as of the most recent determination date.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	As of March 31, 2021 and December 31, 2020, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands): Asset / (Liability) Derivatives Derivatives designated as hedging instruments Balance Sheet Caption March 31, December 31, Net Investment Hedges Cross-currency swaps Other assets $ 190 $ — Cross-currency swaps Other long-term liabilities — (5,000)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table summarizes the income recognized in accumulated other comprehensive income (loss) ("AOCI") on derivative contracts designated as hedging instruments as of March 31, 2021 and December 31, 2020, and the amounts reclassified from AOCI into earnings for the three months ended March 31, 2021 and 2020 (dollars in thousands): Amount of Income (Loss) Recognized Amount of Income (Loss) Reclassified Three months ended As of As of December 31, 2020 Location of Income (Loss) Reclassified from AOCI into Earnings (Effective Portion) 2021 2020 Net Investment Hedges Cross-currency swaps $ 320 $ (3,580) Other expense, net $ — $ —
Derivatives Not Designated as Hedging Instruments	The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of income (dollars in thousands): Amount of Income (Loss) Recognized in Three months ended Location of Income (Loss) 2021 2020 Derivatives not designated as hedging instruments Foreign exchange contracts Other expense, net $ 4,020 $ (70)
Fair Value Measurements, Recurring and Nonrecurring	Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 are shown below (dollars in thousands): Description Frequency Asset / (Liability) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2021 Cross-currency swaps Recurring $ 190 $ — $ 190 $ — Foreign exchange contracts Recurring $ 330 $ — $ 330 $ — December 31, 2020 Cross-currency swaps Recurring $ (5,000) $ — $ (5,000) $ — Foreign exchange contracts Recurring $ 140 $ — $ 140 $ —

Leases Leases (Tables)

Leases Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense are as follows (dollars in thousands): Three months ended March 31, 2021 2020 Operating lease cost $ 2,140 $ 1,650 Short-term, variable and other lease costs 430 310 Total lease cost $ 2,570 $ 1,960
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities are as follows (dollars in thousands): Year ended December 31, Operating Leases (a) 2021 (excluding the three months ended March 31, 2021) $ 5,710 2022 7,300 2023 6,450 2024 5,560 2025 4,390 Thereafter 12,620 Total lease payments 42,030 Less: Imputed interest (5,160) Present value of lease liabilities $ 36,870 __________________________ (a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

Other Long-term Liabilities O_2

Other Long-term Liabilities Other Long-term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Other Noncurrent Liabilities [Table Text Block]	Other long-term liabilities consist of the following components (dollars in thousands): March 31, December 31, Non-current asbestos-related liabilities $ 25,420 $ 26,170 Other long-term liabilities 35,870 43,520 Total other long-term liabilities $ 61,290 $ 69,690

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Contingency	Claims Claims filed Claims Claims Claims Average Total defense Three Months Ended March 31, 2021 4,655 62 35 6 4,676 $ 37,917 $ 530,000 Fiscal Year Ended December 31, 2020 4,759 219 287 36 4,655 $ 18,314 $ 2,130,000
Schedule of Damages Sought for Specific Claims [Table Text Block]	Below is a breakdown of the compensatory damages sought for those claims seeking specific amounts: Compensatory Range of damages sought (dollars in millions) $0.0 to $0.6 $0.6 to $5.0 $5.0+ Number of claims — 7 27

Segment Information Segment Inf

Segment Information Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment activity is as follows (dollars in thousands): Three months ended 2021 2020 Net Sales Packaging $ 132,090 $ 100,050 Aerospace 44,610 48,920 Specialty Products 30,030 33,820 Total $ 206,730 $ 182,790 Operating Profit (Loss) Packaging $ 21,300 $ 18,280 Aerospace 4,500 5,080 Specialty Products 4,520 3,430 Corporate (9,210) (6,960) Total $ 21,110 $ 19,830

Equity Awards (Tables)

Equity Awards (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	Information related to stock options at March 31, 2021 is as follows: Number of Weighted Average Option Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at January 1, 2021 150,000 $ 17.87 Granted — — Exercised (150,000) 17.87 Cancelled — — Expired — — Outstanding at March 31, 2021 — $ — — $ —
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	Information related to RSUs at March 31, 2021 is as follows: Number of Unvested RSUs Weighted Average Grant Date Fair Value Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at January 1, 2021 784,968 $ 26.46 Granted 234,021 34.63 Vested (86,763) 22.88 Cancelled (1,847) 25.93 Outstanding at March 31, 2021 930,379 $ 28.85 1.3 $ 28,209,091

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The following table summarizes the dilutive effect of RSUs and options to purchase common stock for the three months ended March 31, 2021 and 2020: Three months ended 2021 2020 Weighted average common shares—basic 43,185,007 44,201,053 Dilutive effect of restricted stock units 400,685 217,074 Dilutive effect of stock options 49,184 52,345 Weighted average common shares—diluted 43,634,876 44,470,472

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Costs of Retirement Plans	The components of net periodic pension cost are as follows (dollars in thousands): Pension Plans Three months ended 2021 2020 Service costs $ 330 $ 320 Interest costs 200 240 Expected return on plan assets (390) (370) Amortization of net loss 230 220 Net periodic benefit cost $ 370 $ 410

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in AOCI by component for the three months ended March 31, 2021 are summarized as follows, net of tax (dollars in thousands): Defined Benefit Plans Derivative Instruments Foreign Currency Translation Total Balance, December 31, 2020 $ (8,620) $ (3,580) $ 6,580 $ (5,620) Net unrealized gains (losses) arising during the period (a) — 3,900 (3,420) 480 Less: Net realized losses reclassified to net income (150) — — (150) Net current-period other comprehensive income (loss) 150 3,900 (3,420) 630 Balance, March 31, 2021 $ (8,470) $ 320 $ 3,160 $ (4,990) __________________________ (a) Derivative instruments, net of income tax of approximately $1.3 million. See Note 11, " Derivative Instruments ," for further details.	Changes in AOCI by component for the three months ended March 31, 2020 are summarized as follows, net of tax (dollars in thousands): Defined Benefit Plans Derivative Instruments Foreign Currency Translation Total Balance, December 31, 2019 $ (9,930) $ 4,230 $ (300) $ (6,000) Net unrealized gains (losses) arising during the period (a) — 4,430 (8,260) (3,830) Less: Net realized losses reclassified to net income (150) — — (150) Net current-period other comprehensive income (loss) 150 4,430 (8,260) (3,680) Balance, March 31, 2020 $ (9,780) $ 8,660 $ (8,560) $ (9,680) __________________________ (a) Derivative instruments, net of income tax of approximately $1.5 million. See Note 11, " Derivative Instruments ," for further details.

Revenue Revenue (Details)

Revenue Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 206,730	$ 182,790
Consumer Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	105,120	76,270
Aerospace & Defense [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	44,610	48,920
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 57,000	$ 57,600

Realignment Actions Realignme_2

Realignment Actions Realignment Actions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Realignment Costs [Line Items]
Loss on dispositions of assets	$ 20	$ 50
Realignment actions [Member]
Realignment Costs [Line Items]
Severance Costs	2,600
Cash paid for severance	400
Realignment costs	4,100
Facility consolidation realignment costs	1,500
Cost of Sales [Member] | Realignment actions [Member]
Realignment Costs [Line Items]
Realignment costs	1,800
Selling, General and Administrative Expenses [Member] | Realignment actions [Member]
Realignment Costs [Line Items]
Realignment costs	$ 2,300

Acquisitions - Other Acquisitio

Acquisitions - Other Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 15, 2020	Feb. 27, 2020
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 0			$ 84,270
Goodwill	300,610	$ 303,970			$ 303,970
Net sales	$ 206,730			182,790
Affaba & Ferrari Srl [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 98,400
Goodwill							$ 49,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							35,100
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital							9,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							17,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities							$ 12,600
Net sales					$ 34,000
Rapak [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 11,400
Net sales						$ 30,000
RSA Engineered Products [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 83,700
Goodwill								$ 43,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								36,900
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital								10,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								2,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities								$ 8,700
Net sales						$ 30,000

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents unrestricted		$ 409,980	$ 62,790
Restricted Cash	[1]	11,160	11,160
Cash and cash equivalents		$ 421,140	$ 73,950
[1]	Includes cash placed on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit.

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets Goodwill Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 300,610	$ 303,970
Aerospace [Member]
Goodwill [Line Items]
Goodwill	$ 62,850	$ 62,850

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets Goodwill Rollforward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance, beginning	$ 303,970
Translation and purchase accounting adjustments	(3,360)
Balance, ending	300,610
Packaging [Member]
Goodwill [Roll Forward]
Balance, beginning	234,560
Translation and purchase accounting adjustments	(3,360)
Balance, ending	231,200
Aerospace [Member]
Goodwill [Roll Forward]
Balance, beginning	62,850
Translation and purchase accounting adjustments	0
Balance, ending	62,850
Specialty Products [Member]
Goodwill [Roll Forward]
Balance, beginning	6,560
Translation and purchase accounting adjustments	0
Balance, ending	$ 6,560

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets Schedule of Intangible Assets (excluding Goodwill) by Major Class (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, accumulated amortization	$ (199,460)	$ (194,170)
Intangible Assets, Gross (Excluding Goodwill)	398,470	400,370
Trademarks and Trade Names [Member]
Intangible Assets, excluding Goodwill [Line Items]
Indefinite-lived intangible assets, gross carrying amount	54,030	54,640
Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	244,040	245,250
Finite-lived intangible assets, accumulated amortization	(126,250)	(121,920)
Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	100,400	100,480
Finite-lived intangible assets, accumulated amortization	(73,210)	(72,250)
Useful Life Five to Twelve Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	121,760	122,970
Finite-lived intangible assets, accumulated amortization	(62,380)	(59,470)
Useful Life Fifteen to Twentyfive Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	122,280	122,280
Finite-lived intangible assets, accumulated amortization	(63,870)	(62,450)
Useful Life One to Fifteen Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	57,100	57,180
Finite-lived intangible assets, accumulated amortization	(33,640)	(32,800)
Useful Life Seventeen to Thirty Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	43,300	43,300
Finite-lived intangible assets, accumulated amortization	$ (39,570)	$ (39,450)
Minimum [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	1 year
Minimum [Member] | Useful Life Five to Twelve Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Minimum [Member] | Useful Life Fifteen to Twentyfive Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	15 years
Minimum [Member] | Useful Life One to Fifteen Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	1 year
Minimum [Member] | Useful Life Seventeen to Thirty Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	17 years
Maximum [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	30 years
Maximum [Member] | Useful Life Five to Twelve Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	12 years
Maximum [Member] | Useful Life Fifteen to Twentyfive Years [Member] | Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	25 years
Maximum [Member] | Useful Life One to Fifteen Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	15 years
Maximum [Member] | Useful Life Seventeen to Thirty Years [Member] | Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	30 years

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets Schedule of Finite-Lived Intangible Assets, Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 5,390	$ 4,850
Cost of Sales [Member] | Technology and Other [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	950	1,210
Selling, General and Administrative Expenses [Member] | Customer Relationships [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,440	$ 3,640

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 78,390	$ 78,010
Work in process	31,500	29,680
Raw materials	41,930	41,690
Total inventories	$ 151,820	$ 149,380

Property and Equipment, Net - P

Property and Equipment, Net - Property and Equipment Table (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 500,280	$ 496,020
Less: Accumulated depreciation	249,130	242,960
Property and equipment, net	251,150	253,060
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,810	20,040
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	91,080	91,970
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 389,390	$ 384,010

Property and Equipment, Net - D

Property and Equipment, Net - Depreciation Expense Table (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Depreciation Expense [Line Items]
Depreciation expense	$ 7,850	$ 6,660
Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	7,850	6,660
Cost of Sales [Member] | Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	7,560	6,360
Selling, General and Administrative Expenses [Member] | Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	$ 290	$ 300

Long-term Debt - Debt Table (De

Long-term Debt - Debt Table (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt	$ 690,190	$ 346,290
Deferred Finance Costs, Net	(9,810)	(4,160)
Current maturities, debt	300,000	0
Long-term debt, net	390,190	346,290
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	0	50,450
4.875% Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt	300,000	300,000
4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Debt	$ 400,000	$ 0

Long-term Debt - Senior Notes (

Long-term Debt - Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 28, 2021
Debt Instrument [Line Items]
Debt financing and related expenses		$ 200	$ 0
Senior Notes [Member] | 4.875% Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	4.875%	4.875%
Debt Instrument, Maturity Date		Oct. 15, 2025
Debt Instrument, Redemption Price, Percentage		102.438%
Senior Notes [Member] | 4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000	$ 400,000
Debt Instrument, Interest Rate, Stated Percentage	4.125%	4.125%
Debt Instrument, Maturity Date		Apr. 15, 2029
Payments of Financing Costs		$ 5,100
Percentage of principal that can be redeemed with cash from proceeds of an equity offering		40.00%
Debt instrument redemption price with net proceeds from equity offering		104.125%
Debt Instrument, Redemption Price, Percentage		100.00%
Senior Notes [Member] | 4.125% Senior Unsecured Notes Due 2029 | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		102.063%
Senior Notes [Member] | 4.125% Senior Unsecured Notes Due 2029 | Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		101.031%
Senior Notes [Member] | 4.125% Senior Unsecured Notes Due 2029 | Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Mar. 29, 2026			Sep. 20, 2022
Payments of Financing Costs		$ 1,000

Long-term Debt - Credit Agreeme

Long-term Debt - Credit Agreement (Details) $ in Thousands		Mar. 31, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 28, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt financing and related expenses			$ 200	$ 0
Net leverage ratio		3	3
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Payments of Financing Costs			$ 1,000
Write off of Deferred Debt Issuance Cost			200
Line of Credit Facility, Maximum Borrowing Capacity		$ 300,000	300,000		$ 300,000
Debt Instrument, Maturity Date		Mar. 29, 2026			Sep. 20, 2022
Debt Instrument, Basis Spread on Variable Rate	[1]	1.50%			1.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, Capacity Available for Foreign Revolver Loans		$ 125,000	125,000
Line of Credit Facility, Maximum Borrowing Capacity		300,000	300,000
Revolving Credit Facility, Amount Outstanding		0	0			$ 50,500
Revolving Credit Facility, Remaining Borrowing Capacity		300,000	300,000			$ 249,500
Letters of credit [Member]
Debt Instrument [Line Items]
Letters of Credit, Maximum Borrowing Capacity		40,000	40,000
Letters of Credit Outstanding, Amount		0	0
Revolving credit and term loan facilities [Member]
Debt Instrument [Line Items]
Incremental debt commitments capacity		$ 200,000	$ 200,000
[1]	The interest rate spread is based upon the leverage ratio, as defined, as of the most recent determination date.

Long-term Debt - Fair Value (De

Long-term Debt - Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt	$ 690,190	$ 346,290
Current maturities, debt	300,000	0
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	0	50,450
4.875% Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt	300,000	300,000
4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Debt	400,000	0
Revolving Credit Facility [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	0	50,450
Fair Value, Inputs, Level 2 [Member] | 4.875% Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	307,500	305,630
Fair Value, Inputs, Level 2 [Member] | 4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Long-term Debt, Fair Value	400,000	0
Fair Value, Inputs, Level 2 [Member] | Revolving Credit Facility [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 0	$ 50,450

Derivative Instruments - Deriva

Derivative Instruments - Derivative Narrative (Details) - Designated as Hedging Instrument [Member] - Cross Currency Interest Rate Contract [Member] - Net Investment Hedging [Member] $ in Millions	Mar. 31, 2021USD ($)
Maximum [Member]
Derivative [Line Items]
Derivative, Fixed Interest Rate	0.80%
Derivative, Notional Amount	$ 200
Minimum [Member]
Derivative [Line Items]
Derivative, Fixed Interest Rate	2.90%
Derivative, Notional Amount	$ 25

Derivative Instruments - Design

Derivative Instruments - Designated as hedging, Financial Position (Details) - Net Investment Hedging [Member] - Cross Currency Interest Rate Contract [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 190	$ 0
Other long-term liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0	$ 5,000

Derivative Instruments - Desi_2

Derivative Instruments - Designated as hedging, Financial Performance (Details) - Net Investment Hedging [Member] - Designated as Hedging Instrument [Member] - Cross Currency Interest Rate Contract [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	$ 320		$ (3,580)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0

Derivative Instruments - Desi_3

Derivative Instruments - Designated as hedging, Financial Performance Narrative (Details) - Designated as Hedging Instrument [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassification from AOCI into Earnings, Estimate of Time to Transfer	12 months
Amount of gain (loss) expected to be reclassified from AOCI into Earnings	$ 0

Derivative Instruments - Deri_2

Derivative Instruments - Derivatives not designated as hedging instruments (Details) - Not Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative [Line Items]
Derivative, Notional Amount	$ 132,700
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ 4,020	$ (70)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	$ 190	$ (5,000)
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	0	0
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	190	(5,000)
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	0	0
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	330	140
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	0	0
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	330	140
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	$ 0	$ 0

Leases Lease Cost Table (Detail

Leases Lease Cost Table (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating Lease, Cost	$ 2,140	$ 1,650
Short-term, variable and other lease costs	430	310
Lease, Cost	$ 2,570	$ 1,960

Leases Operating Lease Liabilit

Leases Operating Lease Liability Maturity Table (Details) $ in Thousands	Mar. 31, 2021USD ($)	[1]
Leases [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 5,710
Lessee, Operating Lease, Liability, to be Paid, Year One	7,300
Lessee, Operating Lease, Liability, to be Paid, Year Two	6,450
Lessee, Operating Lease, Liability, to be Paid, Year Three	5,560
Lessee, Operating Lease, Liability, to be Paid, Year Four	4,390
Lessee, Operating Lease, Liability, to be Paid, after Year Four	12,620
Lessee, Operating Lease, Liability, to be Paid	42,030
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(5,160)
Operating Lease, Liability	$ 36,870
[1]	(a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information Related to Leases (Details)	Mar. 31, 2021Rate
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 7 months 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.30%

Other Long-term Liabilities O_3

Other Long-term Liabilities Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Asbestos-related liability noncurrent	$ 25,420	$ 26,170
Other long-term liabilities other than asbestos liability	35,870	43,520
Other Liabilities, Noncurrent	$ 61,290	$ 69,690

Commitments and Contingencies A

Commitments and Contingencies Asbestos Narrative (Details) - Asbestos [Member]	3 Months Ended	9 Months Ended	30 Months Ended	351 Months Ended
	Mar. 31, 2021USD ($)casesclaimants	Sep. 30, 2019USD ($)claimants	Jun. 30, 2020USD ($)claimants	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)claimants	Dec. 31, 2019claimants
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations	$ 27,900,000
Loss Contingency, Pending Cases, Number | cases	347
Loss Contingency, Pending Claims, Number | claimants	4,676				4,655	4,759
Total settlement costs				$ 10,300,000
Loss Contingency, New Claims Filed, Number | claimants	62	219
Percentage of settlement and defense costs covered by insurance				40.00%
Legal Fees	$ 530,000	$ 2,130,000
Minimum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations					$ 31,500,000
Loss Contingency, New Claims Filed, Number | claimants			143
Legal Fees			$ 2,200,000
Maximum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations					$ 43,300,000
Loss Contingency, New Claims Filed, Number | claimants			173
Legal Fees			$ 2,300,000
Compensatory Only Damages [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages | claimants	34

Commitments and Contingencies_2

Commitments and Contingencies Asbestos Claimant and Settlement (Details) - Asbestos [Member]	3 Months Ended	9 Months Ended
	Mar. 31, 2021USD ($)claimants	Sep. 30, 2019USD ($)claimants	Dec. 31, 2020claimants	Dec. 31, 2019claimants
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	4,676		4,655	4,759
Loss Contingency, New Claims Filed, Number	62	219
Loss Contingency, Claims Dismissed, Number	35	287
Loss Contingency, Claims Settled, Number	6	36
Average settlement amount per claim during period | $	$ 37,917	$ 18,314
Legal Fees | $	$ 530,000	$ 2,130,000

Commitments and Contingencies_3

Commitments and Contingencies Asbestos Damages Sought (Details) - Asbestos [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)claimants
Compensatory and Punitive Damages [Member] | Range 1 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 0
Compensatory and Punitive Damages [Member] | Range 1 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory and Punitive Damages [Member] | Range 2 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory and Punitive Damages [Member] | Range 2 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5
Compensatory and Punitive Damages [Member] | Range 3 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5
Compensatory Only Damages [Member] | Range 1 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0
Compensatory Only Damages [Member] | Range 1 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory Only Damages [Member] | Range 2 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory Only Damages [Member] | Range 2 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5
Compensatory Only Damages [Member] | Range 3 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5
Punitive Only Damages [Member] | Range 1 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0
Punitive Only Damages [Member] | Range 1 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	2.5
Punitive Only Damages [Member] | Range 2 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	2.5
Punitive Only Damages [Member] | Range 2 [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5
Punitive Only Damages [Member] | Range 3 [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 5
Pending Litigation [Member] | Compensatory Only Damages [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages | claimants	34
Pending Litigation [Member] | Compensatory Only Damages [Member] | Range 1 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages | claimants	0
Pending Litigation [Member] | Compensatory Only Damages [Member] | Range 2 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages | claimants	7
Pending Litigation [Member] | Compensatory Only Damages [Member] | Range 3 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages | claimants	27

Segment Information Segment I_2

Segment Information Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 206,730	$ 182,790
Operating profit (loss)	21,110	19,830
Operating Segments [Member] | Packaging [Member]
Segment Reporting Information [Line Items]
Net sales	132,090	100,050
Operating profit (loss)	21,300	18,280
Operating Segments [Member] | Aerospace [Member]
Segment Reporting Information [Line Items]
Net sales	44,610	48,920
Operating profit (loss)	4,500	5,080
Operating Segments [Member] | Specialty Products [Member]
Segment Reporting Information [Line Items]
Net sales	30,030	33,820
Operating profit (loss)	4,520	3,430
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating profit (loss)	$ (9,210)	$ (6,960)

Equity Awards - Stock Option Ac

Equity Awards - Stock Option Activity Table (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Options Outstanding, beginning balance | shares	150,000
Number of Options Granted | shares	0
Number of Options Exercised | shares	(150,000)
Number of Options Cancelled | shares	0
Number of Options Expired | shares	0
Number of Options Outstanding, ending balance | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options Outstanding, Weighted Average Price, beginning | $ / shares	$ 17.87
Options Granted, Weighted Average Price | $ / shares	0
Options Exercised, Weighted Average Price | $ / shares	17.87
Options Cancelled, Weighted Average Price | $ / shares	0
Options Expired, Weighted Average Price | $ / shares	0
Options Outstanding, Weighted Average Price, ending | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Options Average Remaining Contractual Life (Years)	0 years
Options Aggregate Intrinsic Value | $	$ 0

Equity Awards - Stock Options N

Equity Awards - Stock Options Narrative (Details) - Stock Options [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 0
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 0	$ 0

Equity Awards - Restricted Stoc

Equity Awards - Restricted Stock Units Activity Table (Details) - Restricted Stock Units [Member]	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Unvested Restricted Stock Units Outstanding, beginning balance | shares	784,968
Number of Unvested Restricted Stock Units Granted | shares	234,021
Number of Unvested Restricted Stock Units Vested | shares	(86,763)
Number of Unvested Restricted Stock Units Cancelled | shares	(1,847)
Number of Unvested Restricted Stock Units Outstanding, ending balance | shares	930,379
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested Restricted Stock Units Outstanding, Weighted Average Grant Date Fair Value, beginning	$ 26.46
Unvested Restricted Stock Units Granted, Weighted Average Grant Date Fair Value	34.63
Unvested Restricted Stock Units Vested, Weighted Average Grant Date Fair Value	22.88
Unvested Restricted Stock Units Cancelled, Weighted Average Grant Date Fair Value	25.93
Unvested Restricted Stock Units Outstanding, Weighted Average Grant Date Fair Value, ending	$ 28.85
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Restricted Stock Units Average Remaining Contractual Life (Years)	1 year 3 months 18 days
Restricted Stock Units Aggregate Intrinsic Value	$ 28,209,091

Equity Awards - Restricted St_2

Equity Awards - Restricted Stock Units Narrative (Details) - Restricted Stock Units [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares issued related to director fee deferrals	450
Number of Unvested Restricted Stock Units Granted	234,021
Unrecognized unvested restricted shares-based compensation expense	$ 12.5
Weighted-average period for recognition of the unrecognized unvested restricted shares-based compensation expense	2 years 4 months 24 days
Plan 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Stock Units Granted	113,504
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	3 years
Plan 7 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Stock Units Granted	21,112
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	1 year
Plan 8 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Stock Units Granted	72,962
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.28%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	35.50%
3 year EPS CAGR metric [Member] | Maximum [Member] | Plan 8 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage earned based on metric over the performance period	50.00%
Total shareholder return metric [Member] | Plan 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Stock Units Granted	25,993
Share-based Compensation Arrangement by Share-based Payment Award, Award percentage attained			126.20%
Total shareholder return metric [Member] | Minimum [Member] | Plan 8 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Amount of shares earned % of target award	0.00%
Total shareholder return metric [Member] | Maximum [Member] | Plan 8 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage earned based on metric over the performance period	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Amount of shares earned % of target award	200.00%
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares-based compensation expense	$ 2.4	$ 1.9

Earnings per Share Earnings p_2

Earnings per Share Earnings per Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares—basic	43,185,007	44,201,053
Weighted average common shares—diluted	43,634,876	44,470,472
Restricted Stock Units (RSUs) [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental common shares attributable to share-based payment arrangements	400,685	217,074
Stock Options [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental common shares attributable to share-based payment arrangements	49,184	52,345

Earnings per Share Repurchase o

Earnings per Share Repurchase of Common Stock (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2015
Stock Repurchased and Retired During Period, Value	$ 2,640,000	$ 31,570,000
10b5-1 share repurchase program [Member]
Stock Repurchase Program, Authorized Amount	$ 250,000,000		$ 50,000,000
Stock Repurchased and Retired During Period, Shares	82,171	1,253,650
Stock Repurchased and Retired During Period, Value	$ 2,600,000	$ 31,600,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 159,100,000

Defined Benefit Plans - Net Per

Defined Benefit Plans - Net Periodic Pension Costs (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service costs	$ 330	$ 320
Interest costs	200	240
Expected return on plan assets	(390)	(370)
Amortization of net (gain)/loss	230	220
Net periodic benefit cost	$ 370	$ 410

Defined Benefit Plans - Defined

Defined Benefit Plans - Defined Benefit Plans Narrative (Details) - Pension Plans, Defined Benefit [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 1.5
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 3.6

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021		Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances	$ 584,250		$ 697,480
Total other comprehensive income (loss)	630		(3,680)
Balances	595,970		675,460
Other Comprehensive Income (Loss), Tax [Abstract]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	(1,300)		1,500
Defined Benefit Plans [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances	(8,620)		(9,930)
Net unrealized gains (losses) arising during the period	0		0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(150)		(150)
Total other comprehensive income (loss)	150		150
Balances	(8,470)		(9,780)
Accumulated Net Gain (Loss) from Hedges Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances	(3,580)		4,230
Net unrealized gains (losses) arising during the period	3,900	[1]	4,430	[2]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0		0
Total other comprehensive income (loss)	3,900		4,430
Balances	320		8,660
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances	6,580		(300)
Net unrealized gains (losses) arising during the period	(3,420)		(8,260)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0		0
Total other comprehensive income (loss)	(3,420)		(8,260)
Balances	3,160		(8,560)
Accumulated Other Comprehensive Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances	(5,620)		(6,000)
Net unrealized gains (losses) arising during the period	480		(3,830)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(150)		(150)
Total other comprehensive income (loss)	630		(3,680)
Balances	$ (4,990)		$ (9,680)
[1]	Derivative instruments, net of income tax of approximately $1.3 million. See Note 11, " Derivative Instruments
[2]	Derivative instruments, net of income tax of approximately $1.5 million. See Note 11, " Derivative Instruments ," for further details.

Subsequent Event Acquisition (D

Subsequent Event Acquisition (Details) - USD ($) $ in Thousands	Apr. 15, 2021	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost		$ 6,150	$ 0
4.875% Senior Unsecured Notes Due 2025 [Member] | Senior Notes [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount		$ 300,000
Subsequent Event [Member] | 4.875% Senior Unsecured Notes Due 2025 [Member] | Senior Notes [Member]
Subsequent Event [Line Items]
Early Repayment of Senior Debt	$ 314,600
Debt Instrument, Face Amount	300,000
Payment for Debt Extinguishment or Debt Prepayment Cost	7,300
Accrued interest paid through redemption date	$ 7,300