Alamo (ALG) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ALAMO GROUP INC
Entity Central Index Key	897,077
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		11,424,172

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 42,657	$ 39,533
Accounts receivable, net	175,940	175,008
Inventories, net	174,423	166,088
Deferred income taxes	6,171	4,712
Prepaid expenses	5,016	4,415
Income tax receivable	0	3,546
Total current assets	404,207	393,302
Rental equipment, net	42,214	33,631
Property, plant and equipment	172,908	171,667
Less: Accumulated depreciation	(105,791)	(100,497)
Property, plant and equipment, net	67,117	71,170
Goodwill	76,082	75,691
Intangible assets, net	53,908	56,984
Deferred income taxes	107	642
Other assets	1,287	1,466
Total assets	644,922	632,886
Current liabilities:
Trade accounts payable	60,952	47,741
Income taxes payable	1,131	52
Accrued liabilities	37,413	41,002
Current maturities of long-term debt and capital lease obligations	473	551
Deferred income tax	302	21
Total current liabilities	100,271	89,367
Long-term debt and capital lease obligations, net of current maturities	175,005	190,024
Deferred pension liability	4,337	5,714
Other long-term liabilities	6,084	5,656
Deferred income taxes	5,125	4,455
Stockholders’ equity:
Common stock, $.10 par value, 20,000,000 shares authorized; 11,391,556 and 11,306,650 outstanding at September 30, 2015 and December 31, 2014, respectively	1,139	1,130
Additional paid-in-capital	96,610	93,849
Treasury stock, at cost; 42,600 shares at September 30, 2015 and December 31, 2014	(426)	(426)
Retained earnings	288,582	259,476
Accumulated other comprehensive loss, net	(31,805)	(16,359)
Total stockholders’ equity	354,100	337,670
Total liabilities and stockholders’ equity	$ 644,922	$ 632,886

Interim Condensed Consolidated3

Interim Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders' Equity:
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	11,391,556	11,306,650
Common stock, shares outstanding	11,391,556	11,306,650
Treasury stock, shares	42,600	42,600

Interim Condensed Consolidated4

Interim Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales:
Net sales	$ 231,614	$ 234,783	$ 655,146	$ 615,144
Cost of sales	174,105	179,343	501,435	474,288
Gross profit	57,509	55,440	153,711	140,856
Selling, general and administrative expenses	33,939	33,914	101,578	93,903
Income from operations	23,570	21,526	52,133	46,953
Interest expense	(1,671)	(1,497)	(5,142)	(2,780)
Interest income	27	41	120	137
Other income, net	895	421	2,243	1,048
Income before income taxes	22,821	20,491	49,354	45,358
Provision for income taxes	8,065	7,124	17,529	15,558
Net Income	$ 14,756	$ 13,367	$ 31,825	$ 29,800
Net income per common share:
Basic (in dollars per share)	$ 1.30	$ 1.11	$ 2.81	$ 2.47
Diluted (in dollars per share)	$ 1.28	$ 1.10	$ 2.77	$ 2.43
Average common shares:
Basic (in shares)	11,380	12,050	11,337	12,077
Diluted (in shares)	11,496	12,206	11,477	12,251
Dividends declared (in dollars per share)	$ 0.08000	$ 0.07000	$ 0.24000	$ 0.21000
North American Industrial
Net sales:
Net sales	$ 127,385	$ 126,356	$ 362,818	$ 309,543
Income from operations	11,741	12,201	31,178	28,629
North American Agricultural
Net sales:
Net sales	58,919	58,872	160,357	163,315
Income from operations	7,778	4,594	12,292	9,384
European
Net sales:
Net sales	45,310	49,555	131,971	142,286
Income from operations	$ 4,051	$ 4,731	$ 8,663	$ 8,940

Interim Condensed Consolidated5

Interim Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$ 14,756	$ 13,367	$ 31,825	$ 29,800
Other comprehensive loss (before tax effect):
Foreign currency translation adjustment	(8,190)	(11,154)	(16,012)	(8,549)
Post Retirement adjustments:
Net gains arising during the period	183	93	566	262
Other comprehensive loss	(8,007)	(11,061)	(15,446)	(8,287)
Comprehensive Income	$ 6,749	$ 2,306	$ 16,379	$ 21,513

Interim Condensed Consolidated6

Interim Condensed Consolidated Statements of Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2014	$ 337,670	$ 1,130	$ 93,849	$ (426)	$ 259,476	$ (16,359)
Balance (shares) at Dec. 31, 2014		11,264
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,825	$ 0	0	0	31,825	0
Translation adjustment	(16,012)	0	0	0	0	(16,012)
Net actuarial gain arising during period	566	0	0	0	0	566
Stock-based compensation	762	0	762	0	0	0
Exercise of stock options	2,008	$ 9	1,999	0	0	0
Exercise of stock options (shares)		85
Dividends paid ($.24 per share)	(2,719)	$ 0	0	0	(2,719)	0
Balance at Sep. 30, 2015	$ 354,100	$ 1,139	$ 96,610	$ (426)	$ 288,582	$ (31,805)
Balance (shares) at Sep. 30, 2015		11,349

Interim Condensed Consolidated7

Interim Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.08000	$ 0.07000	$ 0.24000	$ 0.21000

Interim Condensed Consolidated8

Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities
Net income	$ 31,825	$ 29,800
Adjustment to reconcile net income to net cash provided by operating activities:
Provision for doubtful accounts	628	304
Depreciation	14,196	7,764
Amortization of intangibles	2,339	676
Amortization of debt issuance costs	159	130
Stock-based compensation expense	762	1,801
Excess tax benefits from stock-based payment arrangements	(80)	(437)
Provision for deferred income tax benefit	8	(2,808)
Gain on sale of property, plant and equipment	(113)	(936)
Changes in operating assets and liabilities, net of amounts acquired:
Accounts receivable	(5,721)	(13,141)
Inventories	(12,935)	(28,423)
Rental equipment	(14,427)	0
Prepaid expenses and other assets	(2,257)	2,752
Trade accounts payable and accrued liabilities	12,318	24,307
Income taxes payable	4,989	3,637
Other long-term liabilities	(473)	(1,016)
Net cash provided by operating activities	31,218	24,410
Investing Activities
Acquisitions, net of cash acquired	(3,465)	(196,363)
Purchase of property, plant and equipment	(7,030)	(6,689)
Proceeds from sale of property, plant and equipment	197	1,064
Net cash used in investing activities	(10,298)	(201,988)
Financing Activities
Borrowings on bank revolving credit facility	62,000	248,000
Repayments on bank revolving credit facility	(77,000)	(58,000)
Principal payments on long-term debt and capital leases	(28)	(434)
Proceeds from issuance of debt	0	780
Debt issuance cost	0	(818)
Dividends paid	(2,719)	(2,540)
Proceeds from sale of common stock	2,008	427
Excess tax benefits from stock-based payment arrangements	80	437
Treasury stock repurchased	0	(34,204)
Net cash (used in) provided by financing activities	(15,659)	153,648
Effect of exchange rate changes on cash and cash equivalents	(2,137)	(1,386)
Net change in cash and cash equivalents	3,124	(25,316)
Cash and cash equivalents at beginning of the period	39,533	63,960
Cash and cash equivalents at end of the period	42,657	38,644
Cash paid during the period for:
Interest	5,075	1,859
Income taxes	$ 14,691	$ 14,242

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014 . Certain reclassifications have been made to previously reported financial statements to conform to the current presentation. The accompanying statement of income reflects the correction of a misclassification of freight revenue for the periods. Freight allowance given to customers was previously recorded as a reduction of cost of sales and has been reclassified to increase net sales and cost of sales in accordance with ASC 605-45-45-20. The reclassification of net sales and cost of sales for the three and nine months ended September 30, 2014 resulted in an increase of approximately $1,608,000 and $4,366,000 , respectively, with no impact on reported net income. The SEC adopted the conflict mineral rules under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act on August 22, 2012. The rules require public companies to disclose information about their use of specific minerals originating from and financing armed groups in the Democratic Republic of the Congo or adjoining countries. The conflict mineral rules cover minerals frequently used to manufacture a wide array of electronic and industrial products including semiconductor devices. The rules do not ban the use of minerals from conflict sources, but require SEC filings and public disclosure covering each calendar year, though the public disclosure provision has been challenged in court. We have determined that we are subject to the rules and are evaluating our supply chain. We have previously filed all required reporting for calendar years 2013 and 2014, and are currently in the process of updating our supplier inquiries in order to meet the 2015 reporting requirement, which is due by May 31, 2016. In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (Topic 606), which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. The amendments in the ASU must be applied using either the retrospective or cumulative effect transition method and are effective for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. In April 2015, the FASB voted to propose a delay in the effective date of this ASU for reporting periods beginning after December 15, 2017, with early adoption permitted as of the original effective date. As a result, the proposed new effective date for the Company will be January 1, 2018. This update could impact the timing and amounts of revenue recognized. We are evaluating the effects, if any, that adoption of this guidance will have on our consolidated financial statements and have not yet selected a transition approach to implement the standard. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU 2015-01”). ASU 2015-01 eliminates the concept of extraordinary items from GAAP but retains the presentation and disclosure guidance for items that are unusual in nature or occur infrequently and expands the guidance to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. A reporting entity may apply ASU 2015-01 prospectively. A reporting entity may also apply ASU 2015-01 retrospectively to all periods presented in the financial statements. The adoption of ASU 2015-01 is not expected to have a material effect on our consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. In August 2015, the FASB issued an update to these changes based on an announcement of the staff of the SEC. This change provides an exception to the April 2015 FASB changes allowing debt issuance costs related to line-of-credit arrangements to continue to be presented as an asset regardless of whether there are any outstanding borrowings under such arrangement. These provisions are to be applied retrospectively and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The adoption of the changes will not materially affect our financial position or results of our operations; however certain debt issuance costs will be reported in the balance sheet as a direct deduction of long-term debt and capital lease obligations, net of current maturities. In July 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-11, “Simplifying the Measurement of Inventory,” as part of its simplification initiative. The ASU amends existing guidance for measuring inventories. This amendment will require the Company to measure inventories recorded using the first-in, first-out method at the lower of cost and net realizable value. This amendment does not change the methodology for measuring inventories recorded using the last-in, first-out method. This amendment will be effective prospectively for the Company on January 1, 2017, with early adoption permitted. We are evaluating the effect this guidance will have on our consolidated financial statements and have not yet selected a transition approach to implement the standard. In September 2015, the FASB issued Accounting Standards Update (ASU) No. 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments from Acquisitions” to simplify the accounting for adjustments made to provisional amounts recognized in a business combination. Adjustments that are identified during the measurement period are now required to be recorded in the reporting period in which the adjustment amounts are determined, rather than retrospectively. The Company adopted this amendment in the third quarter of 2015. The adoption did not have a material impact on our consolidated financial statements.

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies During the third quarter of 2015, the Company changed its annual goodwill and intangible assets impairment testing date from December 31 to October 1. Management considers this accounting change preferable because it allows the Company additional time to complete the annual goodwill test. This change does not accelerate, delay, avoid, or cause an impairment charge, nor does this change result in adjustments to previously issued financial statements. There have been no other changes or additions to our significant accounting policies described in Note 1 to the Consolidated Financial Statements in the Company’s annual report on Form 10-K for the year ended December 31, 2014 .

Acquisitions and Investments

Acquisitions and Investments	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions and Investments	Acquisitions and Investments On March 9, 2015, the Company acquired Herder Implementos e Maquinas Agricolas Ltda. ("Herder") on a debt free basis for a total consideration of approximately $4.0 million subject to certain post-closing adjustments. This acquisition is being accounted for in accordance with ASC Topic 805. Accordingly, the total purchase price has been allocated on a preliminary basis to assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. These allocations reflect provisional estimates that were available at the time and are subject to change during the measurement period as valuations are finalized. The primary reason for the Herder acquisition was to establish a presence in South America which is a major global agricultural market; therefore, Herder will be reported as part of the Company's Agricultural Division. The revenue and earnings of Herder from the date of acquisition to September 30, 2015 were not material to the Company’s consolidated results of operations. In addition, assuming the acquisition had occurred as of January 1, 2014, the results of operations of Herder would not have had a material pro forma effect on the Company’s revenues, earnings or earnings per share for the periods ended September 30, 2015 and 2014. Other Acquisitions On May 13, 2014, the Company acquired all of the operating units of Specialized Industries LP, a portfolio company of ELB Capital Management, LLC. The purchase included the businesses of Super Products LLC, Wausau-Everest LP and Howard P. Fairfield LLC as well as several related entities ("Specialized"), including all brand names and related product names and trademarks (the "Acquisition") pursuant to the terms of the Membership Interests and Partnership Interests Purchase Agreement dated February 24, 2014 (the “Agreement”). The purchase price consideration was approximately $193 million , on a debt-free basis. As disclosed in Note 10 of this form 10-Q, the Company amended its revolving credit facility on May 12, 2014, to finance the acquisition. During the second quarter of 2015, the Company completed its valuation of the acquired assets and liabilities. In connection with preparing information needed for the associated tax returns, the Company identified an error in the pre-acquisition financial statements of Specialized Industries. In particular, a previously unrecognized deferred tax liability approximating $3.3 million related to intangible assets was identified. This resulted in an adjustment to the preliminary purchase price allocation disclosed in Note 2 of the Notes to Consolidated Financial Statements included in our annual report on Form 10-K for the year ended December 31, 2014. The Company adjusted the purchase price allocation associated with the Specialized acquisition to record the $3.3 million deferred tax liability with an associated increase in goodwill. Pursuant to ASC 805-10-25-17, this adjustment has been reflected as of the acquisition date, and accordingly, the recorded amounts for deferred income tax liabilities and goodwill in the December 31, 2014 financial statements included herein have been adjusted to reflect the revised amounts. The final amounts assigned to the assets acquired and liabilities assumed in the Specialized acquisition were recognized at their acquisition-date fair values and are as follows (in thousands): Cash 2,025 Accounts receivable 16,290 Inventory 47,500 Prepaid expenses 3,223 Rental equipment 28,446 Property, plant & equipment 13,214 Intangible assets 53,900 Other assets 675 Deferred income tax (6,023 ) Other liabilities assumed (10,962 ) Net assets assumed 148,288 Goodwill 44,611 Acquisition Price 192,899

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable is shown net of the allowance for doubtful accounts of $3,297,000 and $2,853,000 at September 30, 2015 and December 31, 2014 , respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories valued at LIFO cost represented 45% and 37% of total inventory at September 30, 2015 and December 31, 2014 , respectively. The excess of current cost over LIFO valued inventories was approximately $10,230,000 at September 30, 2015 and December 31, 2014 . An actual valuation of inventory under the LIFO method is made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO must necessarily be based, to some extent, on management's estimates at each quarter end. Net inventories consist of the following: (in thousands) September 30, December 31, Finished goods $ 134,597 $ 112,197 Work in process 15,833 18,635 Raw materials 23,993 35,256 $ 174,423 $ 166,088 Inventory obsolescence reserves were $8,050,000 at September 30, 2015 and $7,601,000 at December 31, 2014 . The increase in reserve for obsolescence resulted from the Company's quarterly review in the normal course of business.

Rental Equipment

Rental Equipment	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Rental Equipment	Rental Equipment Rental equipment is shown net of accumulated depreciation of $7,363,000 and $3,435,000 at September 30, 2015 and December 31, 2014 , respectively. The Company recognized depreciation expense of $2,018,000 and $717,000 for the three month ending September 30, 2015 and September 30, 2014 , respectively and $5,683,000 and $1,361,000 for the nine months ending September 30, 2015 and September 30, 2014 , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Subtopic 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. There is a three-tier fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. Fair value measurements are classified under the following hierarchy: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable Additional details on fair value measurements are included in Note 11 to the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2014 . The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of September 30, 2015 and December 31, 2014 , as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2015 : (in thousands) Balance at December 31, 2014 $ 75,691 Goodwill acquired 2,999 Translation adjustments (2,608 ) Balance at September 30, 2015 $ 76,082

Definite and Indefinite Lived I

Definite and Indefinite Lived Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Definite and Indefinite Lived Intangible Assets	Definite and Indefinite Lived Intangible Assets The following is a summary of the Company's definite and indefinite lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives September 30, December 31, 2014 Definite: Trade names and trademarks 25 years $ 21,925 22,104 Customer and dealer relationships 14 years 28,858 29,404 Patents and drawings 12 years 1,909 1,968 Total at cost 52,692 53,476 Less accumulated amortization 4,284 1,992 Total net 48,408 51,484 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 53,908 $ 56,984 The Company recognized amortization expense of $776,000 and $622,000 for the three months ending September 30, 2015 and 2014 , respectively and $2,339,000 and $676,000 for the nine months ended September 30, 2015 and 2014 , respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Effective May 12, 2014, the Company amended its revolving credit facility and increased its line of credit from $100 million to $250 million to accommodate the acquisition of Specialized and meet the ongoing needs of the combined entities. The Company maintains a revolving credit facility with certain lenders under its Amended and Restated Revolving Credit Agreement ("the agreement"). The aggregate commitments from lenders under such revolving credit facility is $250,000,000 and, subject to certain conditions, the Company has the option to request an increase in aggregate commitments of up to an additional $50,000,000 . The the agreement requires the Company to maintain various financial covenants including a minimum earnings before interest and tax to interest expense ratio, a maximum leverage ratio and a minimum asset coverage ratio. The agreement also contains various covenants relating to limitations on indebtedness, limitations on investments and acquisitions, limitations on sale of properties and limitations on liens and capital expenditures. The agreement also contains other customary covenants, representations and events of defaults. The termination date of the agreement is May 12, 2019. As of September 30, 2015 , $175,000,000 was outstanding under the agreement. As of September 30, 2015 , $1,763,000 of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts, resulting in $73,237,000 in available borrowings. As of September 30, 2015 , the Company was in compliance with the covenants under the agreement. September 30, December 31, Current Maturities: Capital lease obligations $ 26 $ 35 Other notes payable 447 516 473 551 Long-term debt: Bank revolving credit facility 175,000 190,000 Capital lease obligations 5 24 175,005 190,024 Total debt $ 175,478 $ 190,575

Common Stock and Dividends

Common Stock and Dividends	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Common Stock and Dividends	Common Stock and Dividends Dividends declared and paid on a per share basis were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Dividends declared $ 0.08 $ 0.07 $ 0.24 $ 0.21 Dividends paid $ 0.08 $ 0.07 $ 0.24 $ 0.21 On October 1, 2015, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.08 per share, which was paid on October 29, 2015, to shareholders of record at the close of business on October 15, 2015.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has granted options to purchase its common stock and or stock grants to certain employees and directors of the Company and its affiliates under various stock option plans at no less than the fair market value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited in the event the employee or director terminates his or her employment or relationship with the Company or one of its affiliates other than by retirement or death. These options generally vest over five years. All option plans contain anti-dilutive provisions that permit an adjustment of the number of shares of the Company’s common stock represented by each option for any change in capitalization. The Company’s stock-based compensation expense was $296,000 and $141,000 for the three months ended September 30, 2015 and 2014 , respectively and $762,000 and $1,801,000 for the nine months ended September 30, 2015 and 2014 , respectively. The decrease of stock-based compensation expense in 2015 as compared to 2014 is primarily related to the accelerated vesting of awards to retirement eligible recipients that occurred in 2014. Qualified Options Following is a summary of activity in the Incentive Stock Option Plans for the period indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 301,800 Granted 29,500 Exercised (74,675 ) Canceled (1,500 ) Outstanding at September 30, 2015 255,125 Exercisable at September 30, 2015 144,025 Available for grant at September 30, 2015 370,500 Non-qualified Options Following is a summary of activity in the Non-Qualified Stock Option Plans for the period indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 132,100 Granted — Exercised (4,800 ) Canceled — Outstanding at September 30, 2015 127,300 Exercisable at September 30, 2015 83,100 Available for grant at September 30, 2015 232,522 Restricted Stock Following is a summary of activity in the Restricted Stock for the periods indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 12,043 Granted 26,004 Vested (5,431 ) Forfeited or Canceled — Outstanding at September 30, 2015 32,616

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations do not differ. Three Months Ended Nine Months Ended (In thousands, except per share) 2015 2014 2015 2014 Net Income $ 14,756 $ 13,367 $ 31,825 $ 29,800 Average Common Shares: Basic (weighted-average outstanding shares) 11,380 12,050 11,337 12,077 Dilutive potential common shares from stock options 116 156 140 174 Diluted (weighted-average outstanding shares) 11,496 12,206 11,477 12,251 Basic earnings per share $ 1.30 $ 1.11 $ 2.81 $ 2.47 Diluted earnings per share $ 1.28 $ 1.10 $ 2.77 $ 2.43 Stock options totaling 51,909 shares for the nine months ended September 30, 2015 were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive. The main difference between diluted common shares for the periods ending September 30, 2015 and September 30, 2014 are the shares the Company retired in September 2014 relating to the stock repurchase of 849,690 shares.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting At September 30, 2015 the following includes a summary of the unaudited financial information by reporting segment: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Net Sales Industrial $ 127,385 $ 126,356 $ 362,818 $ 309,543 Agricultural 58,919 58,872 160,357 163,315 European 45,310 49,555 131,971 142,286 Consolidated $ 231,614 $ 234,783 $ 655,146 $ 615,144 Income from Operations Industrial $ 11,741 $ 12,201 $ 31,178 $ 28,629 Agricultural 7,778 4,594 12,292 9,384 European 4,051 4,731 8,663 8,940 Consolidated $ 23,570 $ 21,526 $ 52,133 $ 46,953 (in thousands) September 30, 2015 December 31, 2014 Goodwill Industrial $ 56,498 $ 57,320 Agricultural 2,963 695 European 16,621 17,676 Consolidated $ 76,082 $ 75,691 Total Identifiable Assets Industrial $ 385,522 $ 367,096 Agricultural 109,325 113,286 European 150,075 152,504 Consolidated $ 644,922 $ 632,886 The 2014 and 2015 acquisitions are reflected in the above segment reporting. Business units of Specialized are in the Industrial segment, Fieldquip and Herder are in the Agricultural segment and Kellands is in the European segment.

Off-Balance Sheet Arrangements

Off-Balance Sheet Arrangements	9 Months Ended
	Sep. 30, 2015
Off Balance Sheet Arrangements [Abstract]
Off Balance Sheet Arrangements	Off-Balance Sheet Arrangements The Company does not have any obligation under any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is party, that has or is reasonably likely to have a material effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contingent Matters

Contingent Matters	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingent Matters	Contingent Matters Like other manufacturers, the Company is subject to a broad range of federal, state, local and foreign laws and requirements, including those concerning air emissions, discharges into waterways, and the generation, handling, storage, transportation, treatment and disposal of hazardous substances and waste materials, as well as the remediation of contamination associated with releases of hazardous substances at the Company’s facilities and off-site disposal locations, workplace safety and equal employment opportunities. These laws and regulations are constantly changing, and it is impossible to predict with accuracy the effect that changes to such laws and regulations may have on the Company in the future. Like other industrial concerns, the Company’s manufacturing operations entail the risk of noncompliance, and there can be no assurance that the Company will not incur material costs or other liabilities as a result thereof. The Company knows that its Indianola, Iowa property is contaminated with chromium which most likely resulted from chrome plating operations which were discontinued before the Company purchased the property. Chlorinated volatile organic compounds have also been detected in water samples on the property, though the source is unknown at this time. The Company voluntarily worked with an environmental consultant and the state of Iowa with respect to these issues and believes it completed its remediation program in June 2006. The work was accomplished within the Company’s environmental liability reserve balance. We requested a “no further action” classification from the state. We received a conditional “no further action” letter in January of 2009. When we demonstrate stable or improving conditions below residential standards for a certain period of time by monitoring existing wells, we will request an unconditional “no further action” letter. The Company knows that Bush Hog’s main manufacturing property in Selma, Alabama was contaminated with chlorinated volatile organic compounds which most likely resulted from painting and cleaning operations during the 1960s and 1970s. The contaminated areas were primarily in the location of underground storage tanks and underneath the former waste storage area. Under the Asset Purchase Agreement, Bush Hog’s prior owner agreed to and has removed the underground storage tanks at its cost and has remediated the identified contamination in accordance with the regulations of the Alabama Department of Environmental Management. An environmental consulting firm was retained by the prior owner to administer the cleanup and monitor the site on an ongoing basis until the remediation program is complete and approved by the applicable authorities. The remediation process has been completed. On August 6, 2015, Bush Hog received a letter of concurrence from the Alabama Department of Environmental Management concluding that Bush Hog had successfully remediated the property and that the site was eligible for liability protection under the Land Recycling and Economic Redevelopment Act for contamination discovered and addressed under Bush Hog’s voluntary cleanup plan. Alamo Group Inc. and Bush Hog, Inc. were added as defendants in 2013 to ongoing litigation by Deere & Company as plaintiff against Bush Hog, LLC (now Duroc, LLC) and Great Plains Manufacturing Incorporated, in which Deere alleged infringement of a mower-related patent. The jury concluded that not only did the defendants not infringe the patent, but that the patent was invalid as well. The Company expensed $2,100,000 in legal fees related to this lawsuit in 2013. Deere & Company has appealed and requested a new trial. A hearing on the appeal was held on October 8, 2015 and all parties attended. A final ruling on the appeal is expected in 2016. Certain assets of the Company contain asbestos that may have to be remediated over time. The Company believes that any subsequent change in the liability associated with the asbestos removal will not have a material adverse effect on the Company’s consolidated financial position or results of operations. The Company is subject to various other federal, state, and local laws affecting its business, as well as a variety of regulations relating to such matters as working conditions, equal employment opportunities, and product safety. A variety of state laws regulate the Company’s contractual relationships with its dealers, some of which impose restrictive standards on the relationship between the Company and its dealers, including events of default, grounds for termination, non-renewal of dealer contracts, and equipment repurchase requirements. The Company believes it is currently in material compliance with all such applicable laws and regulations.

Retirement Benefit Plans

Retirement Benefit Plans	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement Benefit Plans	Retirement Benefit Plans Defined Benefit Plan In connection with the February 3, 2006 purchase of all the net assets of the Gradall excavator business, Alamo Group Inc. assumed sponsorship of two Gradall non-contributory defined benefit pension plans, both of which were frozen with respect to both future benefit accruals and future new entrants. The Gradall Company Hourly Employees’ Pension Plan covers approximately 332 former employees and 119 current employees who (i) were formerly employed by the former parent of Gradall, (ii) were covered by a collective bargaining agreement and (iii) first participated in the plan before April 6, 1997. An amendment ceasing all future benefit accruals was effective April 6, 1997. The Gradall Company Employees’ Retirement Plan covers approximately 241 former employees and 80 current employees who (i) were formerly employed by the former parent of Gradall, (ii) were not covered by a collective bargaining agreement and (iii) first participated in the plan before December 31, 2004. An amendment ceasing future benefit accruals for certain participants was effective December 31, 2004. A second amendment discontinued all future benefit accruals for all participants effective April 24, 2006. The following tables present the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Nine Months Ended September 30, 2015 (in thousands) Hourly Employees’ Pension Plan Employees’ Retirement Plan Total Service cost $ 6 $ 3 $ 9 Interest cost 303 651 954 Expected return on plan assets (495 ) (921 ) (1,416 ) Amortization of prior service cost — — — Amortization of net loss 186 300 486 Net periodic benefit cost $ — $ 33 $ 33 Nine Months Ended September 30, 2014 (in thousands) Hourly Employees’ Pension Plan Employees’ Retirement Plan Total Service cost $ 6 $ 3 $ 9 Interest cost 315 639 954 Expected return on plan assets (477 ) (885 ) (1,362 ) Amortization of prior service cost — — — Amortization of net loss 54 45 99 Net periodic benefit income $ (102 ) $ (198 ) $ (300 ) The Company amortizes annual pension expense evenly over four quarters. Pension expense was $11,000 for the three months ended September 30, 2015 and pension income for the three months ended September 30, 2014 was $100,000 . Pension expense for the nine months ended September 30, 2015 was $33,000 and pension income for the nine month ending September 30, 2014 was $300,000 . The Company is not required to contribute to the pension plans for the 2015 plan year but may do so. Supplemental Retirement Plan The Board of Directors ("Board") of the Company adopted the Alamo Group Inc. Supplemental Executive Retirement Plan (the “SERP”), effective as of January 3, 2011. The SERP will benefit certain key management or other highly compensated employees of the Company and/or certain subsidiaries who are selected by the Compensation Committee and approved by the Board of Directors to participate. The SERP is intended to provide a benefit from the Company upon retirement, death or disability, or a change in control of the Company. Accordingly, the SERP obligates the Company to pay to a participant a Retirement Benefit (as defined in the SERP) upon the occurrence of certain payment events to the extent a participant has a vested right thereto. A participant’s right to his or her Retirement Benefit becomes vested in the Company’s contributions upon ten years of Credited Service (as defined in the SERP) or a change in control of the Company. The Retirement Benefit is based on 20% of the final three year average salary of each participant on or after his or her normal retirement age ( 65 years of age). In the event of the participant’s death or a change in control, the participant’s vested retirement benefit will be paid in a lump sum to the participant or his or her estate, as applicable, within 90 days after the participant’s death or a change in control, as applicable. In the event the participant is entitled to a benefit from the SERP due to disability, retirement or other termination of employment, the benefit will be paid in monthly installments over a period of fifteen years. In May of 2015, the Board amended the SERP to allow the Board to modify the retirement benefit percentage either higher or lower than 20% . As of September 30, 2015 , the current retirement benefit for the participants is 20% . The Company records amounts relating to the SERP based on calculations that incorporate various actuarial and other assumptions, including discount rates, rate of compensation increases, retirement dates and life expectancies. The net periodic costs are recognized as employees render the services necessary to earn the SERP benefits. The net period expense for the three months ended September 30, 2015 and 2014 was $150,000 and $140,000 , respectively and $450,000 and $420,000 for the nine months ended September 30, 2015 and 2014 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to U.S. federal income tax and various state, local, and international income taxes in numerous jurisdictions. Our domestic and international tax liabilities are subject to the allocation of revenue and expenses in different jurisdictions and the timing of recognizing revenue and expenses. Additionally, the amount of income taxes paid is subject to our interpretation of applicable tax laws in the jurisdictions in which we file. The Company currently files income tax returns in the U.S., Canada, UK, France, Brazil and Australia in which we have entities, and are periodically audited by federal, state, and international tax authorities. These audits can involve complex matters that may require an extended period of time for resolution. There are no income tax examinations currently in process. Although the outcome of future tax audits is uncertain, in management’s opinion, adequate provisions for income taxes have been made. If actual outcomes differ materially from these estimates, they could have a material impact on our financial condition and results of operations. Differences between actual results and assumptions, or changes in assumptions in future periods are recorded in the period they become known. To the extent additional information becomes available prior to resolution; such accruals are adjusted to reflect probable outcomes. Our effective tax rate is impacted by earnings being realized in countries which have lower statutory rates.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events None

Acquisitions and Investments (T

Acquisitions and Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The final amounts assigned to the assets acquired and liabilities assumed in the Specialized acquisition were recognized at their acquisition-date fair values and are as follows (in thousands): Cash 2,025 Accounts receivable 16,290 Inventory 47,500 Prepaid expenses 3,223 Rental equipment 28,446 Property, plant & equipment 13,214 Intangible assets 53,900 Other assets 675 Deferred income tax (6,023 ) Other liabilities assumed (10,962 ) Net assets assumed 148,288 Goodwill 44,611 Acquisition Price 192,899

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Net inventories consist of the following: (in thousands) September 30, December 31, Finished goods $ 134,597 $ 112,197 Work in process 15,833 18,635 Raw materials 23,993 35,256 $ 174,423 $ 166,088

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2015 : (in thousands) Balance at December 31, 2014 $ 75,691 Goodwill acquired 2,999 Translation adjustments (2,608 ) Balance at September 30, 2015 $ 76,082

Definite and Indefinite Lived31

Definite and Indefinite Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following is a summary of the Company's definite and indefinite lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives September 30, December 31, 2014 Definite: Trade names and trademarks 25 years $ 21,925 22,104 Customer and dealer relationships 14 years 28,858 29,404 Patents and drawings 12 years 1,909 1,968 Total at cost 52,692 53,476 Less accumulated amortization 4,284 1,992 Total net 48,408 51,484 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 53,908 $ 56,984

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	September 30, December 31, Current Maturities: Capital lease obligations $ 26 $ 35 Other notes payable 447 516 473 551 Long-term debt: Bank revolving credit facility 175,000 190,000 Capital lease obligations 5 24 175,005 190,024 Total debt $ 175,478 $ 190,575

Common Stock and Dividends (Tab

Common Stock and Dividends (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Dividends Declared and Paid	Dividends declared and paid on a per share basis were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Dividends declared $ 0.08 $ 0.07 $ 0.24 $ 0.21 Dividends paid $ 0.08 $ 0.07 $ 0.24 $ 0.21

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Following is a summary of activity in the Restricted Stock for the periods indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 12,043 Granted 26,004 Vested (5,431 ) Forfeited or Canceled — Outstanding at September 30, 2015 32,616
Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	Following is a summary of activity in the Incentive Stock Option Plans for the period indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 301,800 Granted 29,500 Exercised (74,675 ) Canceled (1,500 ) Outstanding at September 30, 2015 255,125 Exercisable at September 30, 2015 144,025 Available for grant at September 30, 2015 370,500
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	Following is a summary of activity in the Non-Qualified Stock Option Plans for the period indicated: For nine months ended September 30, 2015 Shares Outstanding at beginning of year 132,100 Granted — Exercised (4,800 ) Canceled — Outstanding at September 30, 2015 127,300 Exercisable at September 30, 2015 83,100 Available for grant at September 30, 2015 232,522

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations do not differ. Three Months Ended Nine Months Ended (In thousands, except per share) 2015 2014 2015 2014 Net Income $ 14,756 $ 13,367 $ 31,825 $ 29,800 Average Common Shares: Basic (weighted-average outstanding shares) 11,380 12,050 11,337 12,077 Dilutive potential common shares from stock options 116 156 140 174 Diluted (weighted-average outstanding shares) 11,496 12,206 11,477 12,251 Basic earnings per share $ 1.30 $ 1.11 $ 2.81 $ 2.47 Diluted earnings per share $ 1.28 $ 1.10 $ 2.77 $ 2.43

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	At September 30, 2015 the following includes a summary of the unaudited financial information by reporting segment: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Net Sales Industrial $ 127,385 $ 126,356 $ 362,818 $ 309,543 Agricultural 58,919 58,872 160,357 163,315 European 45,310 49,555 131,971 142,286 Consolidated $ 231,614 $ 234,783 $ 655,146 $ 615,144 Income from Operations Industrial $ 11,741 $ 12,201 $ 31,178 $ 28,629 Agricultural 7,778 4,594 12,292 9,384 European 4,051 4,731 8,663 8,940 Consolidated $ 23,570 $ 21,526 $ 52,133 $ 46,953 (in thousands) September 30, 2015 December 31, 2014 Goodwill Industrial $ 56,498 $ 57,320 Agricultural 2,963 695 European 16,621 17,676 Consolidated $ 76,082 $ 75,691 Total Identifiable Assets Industrial $ 385,522 $ 367,096 Agricultural 109,325 113,286 European 150,075 152,504 Consolidated $ 644,922 $ 632,886

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Cost	The following tables present the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Nine Months Ended September 30, 2015 (in thousands) Hourly Employees’ Pension Plan Employees’ Retirement Plan Total Service cost $ 6 $ 3 $ 9 Interest cost 303 651 954 Expected return on plan assets (495 ) (921 ) (1,416 ) Amortization of prior service cost — — — Amortization of net loss 186 300 486 Net periodic benefit cost $ — $ 33 $ 33 Nine Months Ended September 30, 2014 (in thousands) Hourly Employees’ Pension Plan Employees’ Retirement Plan Total Service cost $ 6 $ 3 $ 9 Interest cost 315 639 954 Expected return on plan assets (477 ) (885 ) (1,362 ) Amortization of prior service cost — — — Amortization of net loss 54 45 99 Net periodic benefit income $ (102 ) $ (198 ) $ (300 )

Basis of Financial Statement 38

Basis of Financial Statement Presentation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Correction of Misclassification of Freight Revenue
Accounting Policies [Line Items]
Reclassification of net sales and cost of sales	$ 1,608	$ 4,366

Acquisition and Investments (Na

Acquisition and Investments (Narrative) (Details) - USD ($) $ in Millions	Mar. 09, 2015	May. 13, 2014	Jun. 30, 2015
Herder
Business Acquisition [Line Items]
Total consideration for the purchase	$ 4
Specialized Industries LP
Business Acquisition [Line Items]
Total consideration for the purchase		$ 193
Purchase price allocation adjustment for unrecognized deferred tax liability related to intangible assets			$ 3.3
Increase in goodwill, adjustment to purchase price allocation			$ 3.3

Acquisitions and Investments (S

Acquisitions and Investments (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	May. 13, 2014
Business Acquisition [Line Items]
Goodwill	$ 76,082	$ 75,691
Specialized Industries LP
Business Acquisition [Line Items]
Cash			$ 2,025
Accounts receivable			16,290
Inventory			47,500
Prepaid expenses			3,223
Rental equipment			28,446
Property, plant & equipment			13,214
Intangible assets			53,900
Other assets			675
Deferred income tax			(6,023)
Other liabilities assumed			(10,962)
Net assets assumed			148,288
Goodwill			44,611
Acquisition Price			$ 192,899

Accounts Receivable (Narrative)

Accounts Receivable (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
Allowance for doubtful accounts	$ 3,297	$ 2,853

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Percentage of LIFO inventory	45.00%	37.00%
Excess of current costs over stated LIFO value	$ 10,230	$ 10,230
Inventory obsolescence reserves	$ 8,050	$ 7,601

Inventories (Schedule of Invent

Inventories (Schedule of Inventory, Current) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Finished goods	$ 134,597	$ 112,197
Work in process	15,833	18,635
Raw materials	23,993	35,256
Inventory, Net	$ 174,423	$ 166,088

Rental Equipment (Details)

Rental Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ (105,791)		$ (105,791)		$ (100,497)
Depreciation			14,196	$ 7,764
Rental Equipment
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(7,363)		(7,363)		$ (3,435)
Depreciation	$ 2,018	$ 717	$ 5,683	$ 1,361

Goodwill (Details)

Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2014	$ 75,691
Goodwill acquired	2,999
Translation adjustments	(2,608)
Balance at September 30, 2015	$ 76,082

Definite and Indefinite Lived46

Definite and Indefinite Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite:	$ 52,692		$ 52,692		$ 53,476
Less accumulated amortization	4,284		4,284		1,992
Total net	48,408		48,408		51,484
Total Intangible Assets	53,908		53,908		56,984
Amortization of intangibles	776	$ 622	2,339	$ 676
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Indefinite:	5,500		$ 5,500		5,500
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives			25 years
Definite:	21,925		$ 21,925		22,104
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives			14 years
Definite:	28,858		$ 28,858		29,404
Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives			12 years
Definite:	$ 1,909		$ 1,909		$ 1,968

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	May. 13, 2014	May. 12, 2014
Debt Instrument [Line Items]
Total debt	$ 175,478,000	$ 190,575,000
Amended and Restated Revolving Credit Agreement | Bank revolving credit facility
Debt Instrument [Line Items]
Aggregate commitments	250,000,000
Maximum amount of additional aggregate commitments (Up to $50,000,000)	50,000,000
Total debt	175,000,000
Available borrowings	73,237,000
Amended and Restated Revolving Credit Agreement | Standby Letters of Credit | Bank revolving credit facility
Debt Instrument [Line Items]
Amount of capacity	$ 1,763,000
Amended and Restated Revolving Credit Agreement | Specialized Industries LP | Revolving Credit Facility
Debt Instrument [Line Items]
Amount of line of credit			$ 250,000,000	$ 100,000,000

Debt (Schedule of Long Term Deb

Debt (Schedule of Long Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Current Maturities:	$ 473	$ 551
Long-term debt:	175,005	190,024
Total debt	175,478	190,575
Capital lease obligations
Debt Instrument [Line Items]
Current Maturities:	26	35
Long-term debt:	5	24
Other notes payable
Debt Instrument [Line Items]
Current Maturities:	447	516
Bank revolving credit facility | Amended and Restated Revolving Credit Agreement
Debt Instrument [Line Items]
Long-term debt:	175,000	$ 190,000
Total debt	$ 175,000

Common Stock and Dividends (Det

Common Stock and Dividends (Details) - $ / shares	Oct. 01, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Dividends declared (in dollars per share)		$ 0.08000	$ 0.07000	$ 0.24000	$ 0.21000
Dividends paid (in dollars per share)		$ 0.08000	$ 0.07000	$ 0.24000	$ 0.21000
Subsequent Event
Class of Stock [Line Items]
Dividends declared (in dollars per share)	$ 0.08

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option term			10 years
Award vesting period			5 years
Stock-based compensation expense	$ 296	$ 141	$ 762	$ 1,801

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Qualified Stock Option Activity) (Details) - Qualified Stock Options	9 Months Ended
	Sep. 30, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year	301,800
Granted	29,500
Exercised	(74,675)
Canceled	(1,500)
Outstanding at September 30, 2015	255,125
Exercisable at September 30, 2015	144,025
Available for grant at September 30, 2015	370,500

Stock-Based Compensation (Sch52

Stock-Based Compensation (Schedule of Non-Qualified Stock Options Activity) (Details) - Non Qualified Options	9 Months Ended
	Sep. 30, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year	132,100
Granted	0
Exercised	(4,800)
Canceled	0
Outstanding at September 30, 2015	127,300
Exercisable at September 30, 2015	83,100
Available for grant at September 30, 2015	232,522

Stock-Based Compensation (Sch53

Stock-Based Compensation (Schedule of Restricted Stock Award Activity) (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year	12,043
Granted	26,004
Vested	(5,431)
Forfeited or Canceled	0
Outstanding at September 30, 2015	32,616

Earnings Per Share (Calculation

Earnings Per Share (Calculation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income		$ 14,756	$ 13,367	$ 31,825	$ 29,800
Average Common Shares:
Basic (weighted-average outstanding shares)		11,380,000	12,050,000	11,337,000	12,077,000
Dilutive potential common shares from stock options, shares		116,000	156,000	140,000	174,000
Diluted (weighted-average outstanding shares)		11,496,000	12,206,000	11,477,000	12,251,000
Basic earnings per share (in dollars per share)		$ 1.30	$ 1.11	$ 2.81	$ 2.47
Diluted earnings per share (in dollars per share)		$ 1.28	$ 1.10	$ 2.77	$ 2.43
Stock options excluded from diluted earnings per share calculation because the effect would be anti-dilutive				51,909
Treasury Stock, Shares, Retired	849,690

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net Sales	$ 231,614	$ 234,783	$ 655,146	$ 615,144
Income from Operations	23,570	21,526	52,133	46,953
Goodwill	76,082		76,082		$ 75,691
Total Identifiable Assets	644,922		644,922		632,886
Industrial
Segment Reporting Information [Line Items]
Net Sales	127,385	126,356	362,818	309,543
Income from Operations	11,741	12,201	31,178	28,629
Goodwill	56,498		56,498		57,320
Total Identifiable Assets	385,522		385,522		367,096
Agricultural
Segment Reporting Information [Line Items]
Net Sales	58,919	58,872	160,357	163,315
Income from Operations	7,778	4,594	12,292	9,384
Goodwill	2,963		2,963		695
Total Identifiable Assets	109,325		109,325		113,286
European
Segment Reporting Information [Line Items]
Net Sales	45,310	49,555	131,971	142,286
Income from Operations	4,051	$ 4,731	8,663	$ 8,940
Goodwill	16,621		16,621		17,676
Total Identifiable Assets	$ 150,075		$ 150,075		$ 152,504

Contingent Matters (Narrative)

Contingent Matters (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2013USD ($)
Deere and Company v Bush Hog LLC and Great Plains Manufacturing Inc
Loss Contingencies [Line Items]
Legal fees expensed	$ 2,100

Retirement Benefit Plans (Narra

Retirement Benefit Plans (Narrative) (Details) $ in Thousands	Jun. 30, 2015	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Employee	Sep. 30, 2014USD ($)	Feb. 03, 2006Defined_Benefit_Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of non-contributory defined benefit pension plans | Defined_Benefit_Plan						2
Pension expense | $		$ 11	$ (100)	$ 33	$ (300)
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension expense | $		$ 150	$ 140	$ 450	420
Requisite service period				10 years
Percentage of final 3 year average salary in which retirement benefit is based (percentage)				20.00%
Term of final average salary used to determine retirement benefit				3 years
Retirement age				65 years
Period after death or change in control benefit will be paid				90 days
Maximum contractual term				15 years
Retirement benefit percentage	20.00%
Gradall Company Hourly Employees Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Former employees covered by pension plan				332
Current employees covered in the Gradall Company Hourly Employees' Pension Plan who were formerly employed by former parent (Employees)				119
Pension expense | $				$ 0	(102)
Gradall Company Hourly Employees Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Former employees covered by pension plan				241
Current employees covered in the Gradall Company Hourly Employees' Pension Plan who were formerly employed by former parent (Employees)				80
Pension expense | $				$ 33	$ (198)

Retirement Benefit Plans (Perio

Retirement Benefit Plans (Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Service cost			$ 9	$ 9
Interest cost			954	954
Expected return on plan assets			(1,416)	(1,362)
Amortization of prior service cost			0	0
Amortization of net loss			486	99
Net periodic benefit cost	$ 11	$ (100)	33	(300)
Hourly Employees’ Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost			6	6
Interest cost			303	315
Expected return on plan assets			(495)	(477)
Amortization of prior service cost			0	0
Amortization of net loss			186	54
Net periodic benefit cost			0	(102)
Employees’ Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost			3	3
Interest cost			651	639
Expected return on plan assets			(921)	(885)
Amortization of prior service cost			0	0
Amortization of net loss			300	45
Net periodic benefit cost			$ 33	$ (198)