Alamo (ALG) 10-K 1 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 22, 2019	Jun. 29, 2018
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		11,739,074
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 870,475,741

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 34,043	$ 25,373
Accounts receivable, net	228,098	205,767
Inventories, net	176,630	155,568
Prepaid expenses	5,327	5,336
Income tax receivable	8,745	483
Total current assets	452,843	392,527
Rental equipment, net	43,978	28,493
Property, plant and equipment	219,135	202,293
Less: Accumulated depreciation	(131,905)	(125,629)
Property, plant and equipment, net	87,230	76,664
Goodwill	83,243	84,761
Intangible assets, net	48,857	52,872
Deferred income taxes	1,783	992
Other assets	3,699	3,362
Total assets	721,633	639,671
Current liabilities:
Trade accounts payable	54,083	55,825
Income taxes payable	2,865	5,002
Accrued liabilities	43,785	40,454
Current maturities of long-term debt and capital lease obligations	119	82
Total current liabilities	100,852	101,363
Long-term debt and capital lease obligation, net of current maturities	85,179	60,000
Long-term tax liability	6,120	12,316
Accrued pension liabilities	1,944	1,225
Other long-term liabilities	8,436	7,291
Deferred income taxes	11,731	8,368
Stockholders’ equity:
Common stock, $.10 par value, 20,000,000 shares authorized; 11,662,688 and 11,577,048 outstanding at December 31, 2018 and December 31, 2017, respectively	1,166	1,158
Additional paid-in capital	108,422	103,864
Treasury stock, at cost; 42,600 shares at December 31, 2018 and December 31, 2017	(426)	(426)
Retained earnings	443,040	374,678
Accumulated other comprehensive loss	(44,831)	(30,166)
Total stockholders’ equity	507,371	449,108
Total liabilities and stockholders’ equity	$ 721,633	$ 639,671

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	11,662,688	11,577,048
Treasury stock (in shares)	42,600	42,600

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net sales:
Net sales	$ 1,008,822	$ 912,380	$ 844,748
Cost of sales	752,707	677,687	639,649
Gross profit	256,115	234,693	205,099
Selling, general and administrative expenses	155,027	145,955	137,479
Income from operations	101,088	88,738	67,620
Interest expense	(5,493)	(4,839)	(5,914)
Interest income	410	336	214
Other income	(1,474)	(1,868)	269
Income before income taxes	94,531	82,367	62,189
Provision for income taxes	21,045	38,052	22,144
Net income	$ 73,486	$ 44,315	$ 40,045
Net income per common share:
Basic (in dollars per share)	$ 6.30	$ 3.84	$ 3.50
Diluted (in dollars per share)	$ 6.25	$ 3.79	$ 3.46
Average common shares:
Basic (in shares)	11,660	11,549	11,434
Diluted (in shares)	11,761	11,682	11,565
Industrial
Net sales:
Net sales	$ 598,930	$ 522,706	$ 484,088
Income from operations	64,213	51,914	35,984
Agricultural
Net sales:
Net sales	235,069	227,389	205,834
Income from operations	22,649	24,059	20,720
European
Net sales:
Net sales	174,823	162,285	154,826
Income from operations	$ 14,226	$ 12,765	$ 10,916

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 73,486	$ 44,315	$ 40,045
Other comprehensive (loss) income:
Foreign currency translation adjustment	(13,347)	16,966	(13,156)
Net (loss) gain on pension and other post-retirement benefits	(1,667)	987	2,369
Other comprehensive (loss) income before income tax benefit (expense)	(15,014)	17,953	(10,787)
Income tax benefit (expense) related to items of other comprehensive (loss) income	349	(363)	(890)
Other comprehensive (loss) income	(14,665)	17,590	(11,677)
Comprehensive income	$ 58,821	$ 61,905	$ 28,368

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income
Balance (in shares) at Dec. 31, 2015		11,350
Balance at Dec. 31, 2015	$ 360,469	$ 1,139	$ 96,778	$ (426)	$ 299,057	$ (36,079)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	40,045				40,045
Translation adjustment	(13,156)					(13,156)
Net actuarial gain (loss) arising during period net of taxes	1,479					1,479
Tax effect of exercised non-qualified stock options	230		230
Stock-based compensation	1,414		1,414
Exercise of stock options (in shares)		70
Exercise of stock options	1,369	$ 7	1,362
Repurchased shares	(19)		(19)
Dividends paid	(4,114)				(4,114)
Balance (in shares) at Dec. 31, 2016		11,420
Balance at Dec. 31, 2016	387,717	$ 1,146	99,765	(426)	334,988	(47,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	44,315				44,315
Translation adjustment	16,966					16,966
Net actuarial gain (loss) arising during period net of taxes	624					624
Stock-based compensation	1,869		1,869
Exercise of stock options (in shares)		114
Exercise of stock options	2,397	$ 12	2,385
Repurchased shares	(166)		(166)
Other	0		11		(11)
Dividends paid	(4,614)				(4,614)
Balance (in shares) at Dec. 31, 2017		11,534
Balance at Dec. 31, 2017	449,108	$ 1,158	103,864	(426)	374,678	(30,166)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73,486				73,486
Translation adjustment	(13,347)					(13,347)
Net actuarial gain (loss) arising during period net of taxes	(1,318)					(1,318)
Stock-based compensation	2,450		2,450
Exercise of stock options (in shares)		86
Exercise of stock options	2,552	$ 8	2,544
Repurchased shares	(436)		(436)
Dividends paid	(5,124)				(5,124)
Balance (in shares) at Dec. 31, 2018		11,620
Balance at Dec. 31, 2018	$ 507,371	$ 1,166	$ 108,422	$ (426)	$ 443,040	$ (44,831)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.44	$ 0.40	$ 0.36

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net income	$ 73,486	$ 44,315	$ 40,045
Adjustments to reconcile net income to cash provided by operating activities:
Provision for doubtful accounts	71	187	482
Depreciation - PP&E	12,884	11,616	11,267
Depreciation - Rental	6,725	5,531	6,429
Amortization of intangibles	3,505	3,317	3,104
Amortization of debt issuance	221	203	213
Stock-based compensation expense	2,450	1,869	1,414
Provision for deferred income tax expense	2,052	1,328	2,620
Gain on sale of property, plant and equipment	(361)	(341)	(345)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(27,029)	(23,134)	3,876
Inventories	(25,991)	142	12,340
Rental equipment	(22,424)	(3,054)	315
Prepaid expenses and other	(583)	2,845	(5,634)
Trade accounts payable and accrued liabilities	4,130	11,688	(5,382)
Income taxes payable	(10,332)	2,357	2,908
Long term tax payable	(6,196)	12,478	0
Other assets and liabilities, net	302	(543)	2,132
Net cash provided by operating activities	12,910	70,804	75,784
Investing Activities
Acquisitions, net of cash acquired	0	(38,553)	(188)
Purchase of property, plant and equipment	(26,587)	(13,490)	(9,711)
Proceeds from sale of property, plant and equipment	1,341	767	1,293
Purchase of patents	(112)	0	(50)
Net cash used in investing activities	(25,358)	(51,276)	(8,656)
Financing Activities
Borrowings on bank revolving credit facility	159,000	143,000	79,000
Repayment on bank revolving credit facility	(134,000)	(153,000)	(153,000)
Principal payments on long-term debt and capital leases	216	(17)	(38)
Proceeds from issuance of long-term debt	0	0	48
Debt issuance cost	0	0	(593)
Dividends paid	(5,124)	(4,614)	(4,114)
Proceeds from exercise of stock options	2,552	2,397	1,369
Common stock repurchased	(436)	(166)	(19)
Net cash used in financing activities	22,208	(12,400)	(77,347)
Effect of exchange rate changes on cash	(1,090)	1,452	90
Net change in cash and cash equivalents	8,670	8,580	(10,129)
Cash and cash equivalents at beginning of the year	25,373	16,793	26,922
Cash and cash equivalents at end of the year	34,043	25,373	16,793
Cash paid during the year for:
Interest	5,199	5,217	5,796
Income taxes	$ 30,295	$ 23,175	$ 16,637

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Description of the Business and Segments The Company manufactures, distributes and services high quality tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services. The Company manages its business through three principal reporting segments: Industrial, Agricultural and European, which are discussed in Note 17 . Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of Alamo Group Inc. and its subsidiaries (the “Company” or “Alamo Group”), all of which are wholly owned. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenues, and expenses reported in the financial statements and accompanying notes. Judgments related to asset impairment and certain reserves are particularly subject to change. Actual results could differ from those estimates. Such estimates include, but are not limited to, allowance for doubtful accounts, reserve for sales discounts, estimated realizable value on obsolete and slow-moving inventory, warranty reserve, estimates related to pension accounting; estimates related to fair value for purposes of assessing goodwill, long-lived assets and intangible assets for impairment; estimates related to income taxes; and estimates related to contingencies. Foreign Currency The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the end of the year. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in accumulated other comprehensive income (loss). Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. As of December 31, 2018 and December 31, 2017, there was no restricted cash. Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The credit risk is limited because of the large numbers and types of customers and their geographic dispersion. Inventories Inventories of U.S. operating subsidiaries are stated at the lower of cost (last-in, first-out method) (“LIFO”) or market, and the Company’s international subsidiaries’ inventories are stated at the lower of cost (first-in, first-out) (“FIFO”) or market. Inventory costs include those costs directly attributable to products, including raw materials, labor and overhead. Property, Plant and Equipment Property, plant, and equipment are stated on the basis of cost. Major renewals and betterments are charged to the property accounts while replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed to the current period. Depreciation is provided at amounts calculated to amortize the cost of the assets over their estimated useful economic lives using the straight-line method. Impairment of Long-Lived Assets Long-lived assets, such as property, plant and equipment, rental equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares non-discounted cash flows expected to be generated by that asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on a non-discounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is instead tested for impairment at least annually, or whenever events or circumstances change between the annual impairment tests that make it likely that an impairment may have occurred, such as a significant adverse change in the business climate or a decision to sell all or a portion of a reporting unit. The Company performs its annual test for goodwill impairment related to its reporting units on October 1 of each fiscal year. Impairment testing for goodwill is done at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (also known as a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. We perform a qualitative assessment for all of our reporting units to determine whether it is more likely than not that an impairment exists. Factors considered include macroeconomic, industry and competitive conditions, legal and regulatory environment, historical financial performance and significant changes in the reporting unit. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is performed. Alternatively, we may also bypass the qualitative assessment and go ahead and perform step 1 to determine if the carrying amount exceeds the reporting unit’s fair value. If the fair value of the reporting unit is lower than its carrying amount, goodwill is written down for the amount by which the carrying amount exceeds the fair value. However, the loss recognized cannot exceed the carrying amount of goodwill. We typically use discounted cash flow models to determine the fair value of a reporting unit. The assumptions used in these models are consistent with those we believe a hypothetical marketplace participant would use. See Note 8 to the Consolidated Financial Statements for more information regarding goodwill. Intangible Assets The Company has intangible assets with both definite and indefinite useful lives. The definite-lived assets are trade names and trademarks, customer and dealer relationships, and patents and drawings that are subject to amortization with useful lives ranging from 3 years to 25 years. Impairment of definite-lived assets is discussed as part of the Impairment of Long-Lived Assets paragraph above. The indefinite-lived assets not subject to amortization consist of trade names. The Company tests its indefinite-lived intangible assets for impairment on an annual basis at year-end, or more frequently if an event occurs or circumstances change that indicate that the fair value of an indefinite-lived intangible asset could be below its carrying amount. The impairment test consists of comparing the fair value of the indefinite-lived intangible asset, determined using the relief from royalty method, with its carrying amount. An impairment loss would be recognized for the carrying amount in excess of its fair value. See Note 9 to the Consolidated Financial Statements for more information regarding intangible assets. Pensions The Company records annual amounts relating to its pension and post-retirement plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases, turnover rates and health care cost trend rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in accumulated other comprehensive income (loss) and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions. The net periodic costs are recognized as employees render the services necessary to earn the post-retirement benefits. Revenue Recognition The following policy resulted from our adoption of the provisions of ASC Topic 606, “Revenue from Contracts with Customers,” effective January 1, 2018, as described above in “Accounting Pronouncements Adopted on January 1, 2018.” The majority of the Company's revenue is recognized from product sales under contracts with customers. The Company presents three reportable operating segments within its financial statements; Industrial, Agricultural and European. Contract terms and performance obligations within each contractual agreement are generally consistent for all three divisions with small differences that do not have a significant impact on the revenue recognition considerations under Topic 606. Revenues are recognized when we satisfy our performance obligation to transfer product to our customers, which typically occurs at a point in time upon shipment or delivery of the product, and for an amount that reflects the transaction price that is allocated to the performance obligation. Our contracts with customers state the final terms of sale, including the description, quantity and price for goods sold. In the normal course of business, we generally do not accept product returns. The transaction price is the consideration that we expect to be entitled to in exchange for our products. Some of our contracts contain variable consideration in the form of sales incentives to our customers, such as discounts and rebates. For contracts that include variable consideration, we estimate the factors that determine the variable consideration in order to establish the transaction price. We have elected that any taxes collected from customers and remitted to government authorities (i.e. sales tax, use tax, etc.) are excluded from the measurement of the transaction price and therefore are excluded from net sales in the consolidated statements of operations. There are instances where we provide shipping services in relation to the goods sold to our customers. Shipping and handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are included in cost of goods sold. We have elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e. an expense) rather than as a promised service. Rental Equipment The Company enters into operating lease agreements with customers related to the rental of certain equipment. In accounting for these leases, the cost of the equipment purchased or manufactured by the Company is recorded as an asset, and is depreciated over its estimated useful life. Accumulated depreciation relating to the rental equipment was $11,145,000 and $9,413,000 on December 31, 2018 and December 31, 2017, respectively. Shipping and Handling Costs The Company’s policy is to include shipping and handling costs in costs of goods sold. Advertising We charge advertising costs to expense as incurred. Advertising and marketing expense related to operations for fiscal years 2018, 2017, and 2016 was approximately $11,773,000, $9,566,000 and $7,742,000, respectively. Advertising and marketing expenses are included in Selling, General and Administrative expenses (“SG&A”). Research and Development Product development and engineering costs charged to SG&A amounted to $10,429,000, $9,849,000, and $8,847,000 for the years ended December 31, 2018, 2017, and 2016, respectively. Commitments and Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company's policy is to accrue for legal costs expected to be incurred in connection with loss contingencies. Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial reporting basis and tax basis of assets and liabilities, and are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, available tax carry backs and tax planning strategies in making this assessment other than those which we have reserved. We have elected to treat the global intangible low-taxed income (GILTI) tax as a period expense. We previously considered substantially all of the earnings in our foreign subsidiaries to be permanently reinvested and, accordingly, recorded no deferred income taxes on such earnings. As a result of the fundamental changes to the taxation of multinational corporations as a result of TCJA, we no longer intend to permanently reinvest all of the historical undistributed earnings of our foreign subsidiaries. We will distribute earnings from our European subsidiaries, while maintaining our permanent reinvestment for our other foreign subsidiaries. GAAP requires recognition of a deferred tax liability in the reporting period in which its intent to no longer permanently reinvest its historical undistributed foreign earnings is made. There will generally be no U.S. federal taxes imposed on such future distributions of European foreign earnings. Stock-Based Compensation The Company has granted options to purchase its common stock 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 that 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. Excess tax benefits or awards that are recognized in equity related to stock option exercises are reflected as cash flows from financing activities in the statement of cash flows. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the following assumptions noted: 1. The risk-free rate is based on the U.S. Treasury rate over the expected life of the option at the time of the grant. 2. The dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of the grant. 3. The expected volatility factors are based on the historical movement of the Company’s common stock price over the expected life of the option. 4. The expected life is the average length of time in which officers, other employees, and non-employee directors are expected to exercise their options, and which are primarily based on historical experience. The Company calculated the fair value for options with the following weighted-average assumptions for 2018, 2017, and 2016: Fair Value Calculation Assumptions for Stock Compensation December 31, 2018 2017 2016 Risk-free interest rate 2.94 % 2.23 % 1.54 % Dividend yield 0.5 % 0.5 % 0.6 % Volatility factors 34.5 % 37.6 % 48.5 % Weighted-average expected life 8.0 years 8.0 years 8.0 years Earnings per Common Share (“EPS”) Basic EPS is computed using the weighted-average number of common shares outstanding during the year. The treasury stock method is used to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under the Company’s incentive stock option plans. The treasury stock method assumes proceeds obtained upon exercise of awards granted under the incentive stock option plans are used to purchase outstanding common stock at the average market price during the period.

Accounting Pronouncements

Accounting Pronouncements	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
ACCOUNTING PRONOUNCEMENTS	ACCOUNTING PRONOUNCEMENTS Accounting Pronouncements Adopted on January 1, 2018 In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605. “Revenue Recognition,” and most industry-specific guidance. Effective January 1, 2018 the Company adopted the provisions of Topic 606 using the modified retrospective method of adoption. There was no impact to our financial position or results of operations as of and for the year ending December 31, 2018 as a result of adopting Topic 606. Therefore, there was no cumulative-effect adjustment to retained earnings as of January 1, 2018 for the impact of the adoption of Topic 606. See “Revenue Recognition” below for our accounting policy affected by our adoption of Topic 606. Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, “Leases.” This update requires that a lessee recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. Similar to current guidance, the update continues to differentiate between finance leases and operating leases, however this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. The updated guidance leaves the accounting for leases by lessors largely unchanged from existing GAAP. The guidance will become effective for us on January 1, 2019. As a lessee, this standard will primarily impact our accounting for long-term real estate and office equipment leases, for which we will recognize a right-of-use asset and a corresponding lease liability on our consolidated balance sheet. We will apply this guidance prospectively, beginning January 1, 2019 and currently estimate the impact on our balance sheet to be approximately $8 million. We are nearing completion of our process to implement a lease accounting system for our leases, including the conversion of our existing lease data to the new system and implementing relevant internal controls and procedures. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses,” to improve information on credit losses for financial instruments. The ASU replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The ASU is effective for the Company for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted beginning in fiscal years beginning after December 18, 2018. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” to allow reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA"). Upon adoption of the ASU, entities will be required to disclose a description of the accounting policy for releasing income tax effects from accumulated other comprehensive income. The standard is required to be adopted for periods beginning after December 15, 2018, with early adoption available for any set of financial statements that have yet to be issued or made available for issuance including retrospectively for any period in which the effect of the change is the U.S. corporate income tax rate in the TCJA is recognized. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740)-Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118,” which amends certain SEC material in Topic 740 for the income tax accounting implications of the recently issued Tax Reform. This guidance clarifies the application of Topic 740 in situations where a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting under ASC Topic 740 for certain income tax effects of Tax Reform for the reporting period in which the Tax Reform was enacted. During 2018, we revised our initial provisional amount recorded for the transitional tax on the deemed repatriation of the accumulated earnings and profits of our international subsidiaries and the impact of the federal tax rate change on the value of our deferred tax assets and liabilities. For further information, see Note 13 to the consolidated financial statements. In August 2018, the FASB issued Accounting Statement Update (ASU) No. 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”, which modifies the disclosures requirements on fair value measurements. Among other things, the amendments add disclosures for changes in unrealized gains and losses on Level 3 fair value measurements and requires additional disclosures on unobservable inputs associated with Level 3 assets. The guidance will become effective for us on January 1, 2020. The impacts that adoption of the ASU is expected to have on our financial disclosures is being evaluated. In August 2018, the FASB issued Accounting Statement Update (ASU) No. 2018-14, “Compensation, Defined Benefit Plans,” which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The update removes certain disclosures that are no longer considered cost beneficial and adds disclosure requirements identified as relevant. The guidance will become effective for us on January 1, 2021 with early adoption permitted for any financial statements that have not been issued. The impacts that adoption of the ASU is expected to have on our financial disclosures is being evaluated.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Santa Izabel Agro Industria Ltda. On June 6, 2017, the Company completed the acquisition of Santa Izabel Agro Industria Ltda. ("Santa Izabel"). Santa Izabel designs, manufactures and markets a variety of agricultural implements and trailers sold throughout Brazil. The primary reason for the Santa Izabel acquisition was to broaden the Company's presence in the manufacturing and distribution of agricultural machinery in Brazil. The acquisition price was approximately $10 million. Old Dominion Brush Company On June 26, 2017, the Company completed the acquisition of Old Dominion Brush Company, Inc. ("Old Dominion"). Old Dominion manufactures and sells replacement brooms for street sweepers and leaf vacuum equipment. The primary reason for the Old Dominion acquisition was to increase the Company's presence in the sweeper market and broaden our product offerings. The acquisition price was approximately $18 million. R.P.M. Tech Inc. On August 8, 2017, the Company completed the acquisition of R.P.M. Tech Inc. ("R.P.M."). R.P.M. manufactures and sells heavy duty snow removal equipment. The primary reason for the R.P.M acquisition was to strengthen the Company's offering in industrial snowblowers. The acquisition price was approximately $13 million. Consolidated Acquisitions The Company has included the operating results of Old Dominion, Santa Izabel, and R.P.M. in its consolidated financial statements since their acquisitions. The total purchase price has been allocated to assets acquired and liabilities assumed, including deferred taxes, based on their fair values as of the completion of the acquisitions. The following represents the final fair value of the assets acquired and liabilities assumed for all acquisitions as of the acquisition dates (in thousands): Cash $ 2,547 Accounts receivable 7,111 Inventory 15,387 Prepaid expenses 134 Property, plant & equipment 5,902 Intangible assets 5,855 Other assets 1,057 Other liabilities assumed (5,635) Net assets assumed $ 32,358 Goodwill 8,741 Acquisition Price $ 41,099

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
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 does not differ. (in thousands, except per share amounts) 2018 2017 2016 Net income $ 73,486 $ 44,315 $ 40,045 Average common shares: Basic (weighted-average outstanding shares) 11,660 11,549 11,434 Dilutive potential common shares from stock options 101 133 131 Diluted (weighted-average outstanding shares) 11,761 11,682 11,565 Basic earnings per share $ 6.30 $ 3.84 $ 3.50 Diluted earnings per share $ 6.25 $ 3.79 $ 3.46 Stock options totaling 4,850 shares in 2018, 1,565 shares in 2017, and 21,491 shares in 2016 were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	VALUATION AND QUALIFYING ACCOUNTS Valuation and qualifying accounts included the following: (in thousands) Balance Beginning of Year Net Charged to Costs and Expenses Translations, Reclassifications and Acquisitions Net Write-Offs or Discounts Taken Balance End of Year 2018 Reserve for sales discounts $ 15,652 $ 91,082 $ (48) $ (88,563) $ 18,123 Reserve for inventory obsolescence 6,932 3,773 (116) (3,395) 7,194 Reserve for warranty 5,335 5,815 (144) (6,014) 4,992 2017 Reserve for sales discounts $ 13,488 $ 82,724 $ 166 $ (80,726) $ 15,652 Reserve for inventory obsolescence 7,262 3,007 886 (4,223) 6,932 Reserve for warranty 5,262 7,224 567 (7,718) 5,335 2016 Reserve for sales discounts $ 15,094 $ 77,126 $ (109) $ (78,623) $ 13,488 Reserve for inventory obsolescence 9,675 2,041 295 (4,749) 7,262 Reserve for warranty 5,566 7,867 (49) (8,122) 5,262 Sales Discounts On December 31, 2018, the Company had $18,123,000 in reserves for sales discounts compared to $15,652,000 on December 31, 2017 on product shipped to our customers under various promotional programs. The most common programs provide a discount when the customer pays within a specified period of time. The Company reviews the reserve quarterly based on analysis made on each program outstanding at the time. The cost of these discounts is estimated based on historical experience and known changes in promotional programs and is reported as a reduction to sales when the product sale is recognized. The reserve is adjusted if discounts paid differ from those estimated. Historically, those adjustments have not been material. Inventories – Obsolete and Slow Moving The Company had a reserve of $7,194,000 on December 31, 2018 and $6,932,000 on December 31, 2017 to cover obsolete and slow moving inventory. The increase in the reserve was primarily attributable to the Company's Industrial Division. The obsolete and slow moving inventory reserve is calculated as follows: 1) no inventory usage over a three-year period is deemed obsolete and reserved at 100%; and 2) slow moving inventory with little usage requires a 100% reserve on items that have a quantity greater than a three-year supply. There are exceptions to the obsolete and slow moving classifications if approved by an officer of the Company, based on specific identification of an item or items that are deemed to be either included or excluded from this classification. In cases where there is no historical data, management makes a judgment based on a specific review of the inventory in question to determine what reserves, if any, are appropriate. New products or parts are generally excluded from the reserve until a three-year history has been established. Warranty The Company’s warranty policy is generally to provide its customers warranty for up to one year on all wholegood units and 90 days on parts, though some components can have warranty for longer terms. Warranty reserve, as a percentage of sales, is generally calculated by looking at the current twelve months’ expenses and prorating that amount based on twelve months’ sales with a 90 day to six-month lag period. The Company’s historical experience is that an end-user takes approximately 90 days to six months from the receipt of the unit to file a warranty claim. A warranty reserve is established for each different marketing group. The current liability warranty reserve balance was $4,992,000 on December 31, 2018 and $5,335,000 on December 31, 2017 and is included in Note 10

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories valued at LIFO represented 60% and 62% of total inventory for the years ended December 31, 2018 and 2017, respectively. The excess of current costs (market value) over LIFO-valued inventories was $10,646,000 and $7,919,000 on December 31, 2018 and December 31, 2017, respectively. Inventories consisted of the following on a cost basis, net of reserves for obsolescence and LIFO: December 31, (in thousands) 2018 2017 Finished goods and parts $ 149,298 $ 133,161 Work in process 12,732 10,243 Raw materials 14,600 12,164 Inventory, net $ 176,630 $ 155,568

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: December 31, (in thousands) 2018 2017 Useful Lives Land $ 11,970 $ 9,920 Buildings and improvements 90,065 82,412 5-20 yrs. Machinery and equipment 88,806 83,445 3-10 yrs. Office furniture and equipment 10,290 8,153 3-7 yrs. Computer software 11,410 12,500 3-7 yrs. Transportation equipment 6,594 5,863 3 yrs. Property, plant and equipment, at cost 219,135 202,293 Accumulated depreciation (131,905) (125,629) Property, plant and equipment, net $ 87,230 $ 76,664

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the twelve months ended December 31, 2016, 2017, and 2018 are as follows: Industrial Agricultural European Consolidated (in thousands) Balance at December 31, 2015 $ 56,293 $ 2,984 $ 16,232 $ 75,509 Translation adjustment 154 505 (1,343) (684) Balance at December 31, 2016 $ 56,447 $ 3,489 $ 14,889 $ 74,825 Translation adjustment 389 (27) 1,833 2,195 Goodwill acquired 4,846 2,895 — 7,741 Balance at December 31, 2017 $ 61,682 $ 6,357 $ 16,722 $ 84,761 Translation adjustment (659) (901) (816) (2,376) Goodwill adjustment 84 774 — 858 Balance at December 31, 2018 $ 61,107 $ 6,230 $ 15,906 $ 83,243

Definite- and Indefinite-Lived

Definite- and Indefinite-Lived Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS	DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS The following is a summary of both the Company's definite- and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, December 31, 2017 Definite: Trade names and trademarks 25 years $ 23,938 $ 25,574 Customer and dealer relationships 10-14 years 32,260 31,356 Patents and drawings 3-12 years 2,061 1,982 Total at cost 58,259 58,912 Less accumulated amortization (14,902) (11,540) Total net 43,357 47,372 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 48,857 $ 52,872 The Company's net carrying value at December 31, 2018 of intangible assets with definite useful lives consists of trade names and trademarks at $19,721,000, customer and dealer relationships at $22,334,000, and patents and drawings at $1,302,000. As of December 31, 2018, the related accumulated amortization balance for the definite- lived assets were $4,217,000 for trade names and trademarks, $9,926,000 for customer and dealer relationships, and $759,000 for patents and drawings. The Company estimates amortization expense to be $3,500,000 for each of the next five years. Indefinite-lived trade names and trademarks consisted of the Gradall trade name with a carrying value of $3,600,000 and the Bush Hog

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consist of the following balances: December 31, (in thousands) 2018 2017 Salaries, wages and bonuses $ 22,598 $ 25,100 Taxes 6,621 3,463 Warranty 4,992 5,335 Retirement Provision 2,646 2,792 Customer Deposits 2,520 200 Other 4,408 3,564 Accrued Liabilities $ 43,785 $ 40,454

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS U.S. GAAP requires or permits certain assets or liabilities to be measured at fair value on a recurring or non recurring basis in our balance sheets. U.S. GAAP also requires the disclosure of the fair values of financial instruments when on option to elect fair value accounting has been provided, but such election has not been made. A debt obligation is an example of such a financial instrument. Fair value is defined 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. In fair value, measurements are classified under the following hierarchy: Level 1 – Quoted prices for identical assets or liabilities 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. When measuring fair value, the Company maximizes use of observable inputs and minimizes the use of unobservable inputs. Fair value measurements are classified to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of December 31, 2018 and 2017, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs. Other than the investments held by the retirement benefit plans, as described in Note 16 to the Consolidated Financial Statements, the Company does not have any other significant financial assets or liabilities measured at fair value on a recurring basis. The carrying value of our debt approximates the fair value as of December 31, 2018 and 2017, as our borrowings bear interest based upon short-term floating market interest rates. The fair value measurement for these liabilities is categorized as Level 2 in the fair value hierarchy. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Fair value measurements are also used in connection with nonrecurring valuations performed in connection with impairment assessments and acquisition accounting. In completing the analysis of the fair values of certain assets acquired as part of business acquisitions, discounted cash flow models were used, which were principally based upon internal assumptions. In valuing certain of the acquired intangible assets, we used an excess earnings methodology, which is a form of a discounted cash flow analysis. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The components of long-term debt are as follows: December 31, (in thousands) 2018 2017 Bank revolving credit facility $ 85,000 $ 60,000 Capital lease obligations 298 — Other notes payable — 82 Total debt 85,298 60,082 Less current maturities 119 82 Total long-term debt $ 85,179 $ 60,000 The Company maintains an unsecured revolving credit facility with certain lenders under its Amended and Restated Revolving Credit Agreement ("Agreement"). The aggregate commitments from lenders under this Agreement are $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 Agreement requires us 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 expiration date of the revolving credit facility is December 20, 2021. As of December 31, 2018, $85,000,000 was outstanding under the Agreement. On December 31, 2018, $1,388,000 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 $163,612,000 in available borrowings.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Tax Reform On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act ("TCJA") that instituted fundamental changes to the U.S. Internal Revenue Code of 1986, as amended ("the Code"). We reflected an overall income tax liability of $10.2 million for the year ended December 31, 2017 with respect to TCJA as a result of remeasuring our U.S. deferred tax assets and liabilities using the 21% rate and recognizing a one-time transition tax charge on the deemed repatriation of previously undistributed accumulated earnings and profits of our international subsidiaries. Due to the significant and complex changes to the Code from the TCJA, the SEC issued Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act," (SAB 118). SAB 118 provides measurement period for up to one year for adjustments to be made to account for the effects of the TCJA. The Company reflected the income tax effects of those aspects of TCJA for which the accounting was complete. To the extent the Company’s accounting for certain income tax effects of TCJA was incomplete but the Company was able to determine a reasonable estimate, the Company recorded a provisional estimate in the financial statements. For those items where a reasonable estimate could not be made, a provisional amount was not recorded and the Company continued to apply the provisions of the tax laws that were in effect immediately before the enactment of TCJA. During 2018, we revised our initial provisional amount recorded for the transitional tax on the deemed repatriation of the accumulated earnings and profits of our international subsidiaries and the impact of the federal tax rate change on the value of our deferred tax assets and liabilities. The transition tax liability on the deemed repatriation decreased $4.2 million, primarily as a result of additional analysis performed over our historical foreign earnings and foreign source income which provided increased ability to credit foreign taxes associated with the deemed repatriation. In addition, adjustments to deferred assets and liabilities recorded upon the filing of our 2017 federal income tax return resulted in a $1.2 million expense from the rate change. Income Statement Components The jurisdictional components of income before taxes consist of the following: December 31, (in thousands) 2018 2017 2016 Income before income taxes: Domestic $ 66,858 $ 61,329 $ 44,446 Foreign 27,673 21,038 17,743 $ 94,531 $ 82,367 $ 62,189 The components of income tax expense (benefit) consist of the following: December 31, (in thousands) 2018 2017 2016 Current: Domestic $ 6,771 $ 26,713 $ 11,958 Foreign 7,391 6,222 5,491 State 4,831 3,789 2,075 18,993 36,724 19,524 Deferred: Domestic 2,542 1,711 1,580 Foreign (390) (155) 934 State (100) (228) 106 2,052 1,328 2,620 Total income taxes $ 21,045 $ 38,052 $ 22,144 The difference between income tax expense (benefit) for financial statement purposes and the amount of income tax expense computed by applying the domestic statutory income tax rate of 21% in 2018 and 35% in 2017 and 2016 to income before income taxes consists of the following: December 31, (in thousands) 2018 2017 2016 Income tax expense at statutory rates $ 19,851 $ 28,828 $ 21,766 Increase (reduction) from: Jurisdictional rate differences 719 (1,863) (1,936) Valuation allowance (267) 308 1,731 Stock based compensation (205) (778) 275 U.S. state taxes 3,917 2,463 1,295 Domestic production deduction — (1,039) (618) R&D credit (531) (500) (329) GILTI 673 — — Other, net 219 397 (40) Provision for income taxes before tax reform $ 24,376 $ 27,816 $ 22,144 Effective tax rate before effects of tax reform 26 % 34 % 36 % Tax Reform: Rate change of deferreds 1,200 (3,334) — Transition tax on deemed repatriation (4,531) 13,104 — Other — 466 — Impact of tax reform $ (3,331) $ 10,236 $ — Provision for income tax $ 21,045 $ 38,052 $ 22,144 Effective tax rate 22 % 46 % 36 % Deferred Income Tax Assets and Liabilities Deferred income taxes arise from temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. The components of the Company’s deferred income tax assets and liabilities consist of the following: December 31, (in thousands) 2018 2017 Deferred income tax assets: Inventory basis difference $ 1,825 $ 571 Accounts receivable reserve 251 310 Rental equipment and Property, plant and equipment 56 4 Stock based compensation 672 549 Pension liability 3,204 2,859 Employee benefit accrual 1,911 2,193 Product liability and warranty reserves 1,294 1,211 Foreign net operating loss 4,164 4,266 State net operating loss 148 286 Foreign tax credit — 4,106 Other (156) 216 Total deferred income tax assets $ 13,369 $ 16,571 Less: Valuation allowance (3,696) (8,519) Net deferred income tax assets $ 9,673 $ 8,052 Deferred income tax liabilities: Rental equipment and Property, plant and equipment (9,928) (7,477) Intangible assets (8,944) (7,064) Expenses not currently deductible for book purposes (749) (887) Total deferred income tax liabilities $ (19,621) $ (15,428) Net deferred income taxes $ (9,948) $ (7,376) As of December 31, 2018, the Company had foreign deferred tax assets consisting of foreign net operating losses and other tax benefits available to reduce future taxable income in a foreign jurisdiction. These foreign jurisdictions’ net operating loss carry-forwards are approximately $9,499,000 with an unlimited carry-forward period, and $5,100,000 with a carry-forward expiring in 2035. The Company also has U.S. state net operating loss carry-forwards in the amount of $4,602,000 which will expire between 2019 and 2029. We have recorded a valuation allowance as of December 31, 2018 and 2017 due to uncertainties related to our ability to utilize some of the deferred income tax assets, primarily consisting of international operating losses and foreign tax credits generated by the transition tax, before they expire. The valuation allowance is based on estimates of taxable income in the various jurisdictions in which we operate and the period over which deferred income tax assets will be recoverable. During 2018, the valuation allowance decreased $4.8 million, primarily due to $4.1 million of foreign tax credits that the company was able to utilize to offset foreign source income and reduce the one-time transition tax. Unrecognized Tax Benefits Unrecognized tax benefits in the amount of $236,000 and $234,000 for 2018 and 2017, respectively, are included in other non-current liabilities on the balance sheet. The unrecognized tax benefits, if recognized, would favorably impact our effective tax rate in a future period. We do not expect our unrecognized tax benefits disclosed above to change significantly over the next 12 months. Unrecognized Tax Benefits December 31, 2018 2017 Balance as of beginning of year $ 234,000 $ 235,000 Additions for tax positions related to the current year 63,000 62,000 Additions for tax positions related to prior years — — Reduction due to lapse of statute of limitations (61,000) (63,000) Balance as of end of year $ 236,000 $ 234,000 The Company adopted the policy to include interest and penalty expense related to income taxes as interest and other expense, respectively. As of December 31, 2018, no interest or penalties has been accrued. The Company’s open tax years for its federal and state income tax returns are for the tax years ended 2013 through 2018. The Company’s open tax years for its foreign income tax returns are for the tax years ended 2011 through 2018. The Company is currently under audit for tax years 2014 and 2015 for the State of New York and for tax year 2011 and 2016 for certain subsidiaries in Canada. The Company previously considered substantially all of the earnings in our foreign subsidiaries to be permanently reinvested and, accordingly, recorded no deferred income taxes on such earnings. As a result of the fundamental changes to the taxation of multinational corporations created by TCJA, we no longer intend to permanently reinvest all of the historical undistributed earnings of our foreign affiliates. We will distribute earnings from our European subsidiaries, while maintaining our permanent reinvestment for our other foreign subsidiaries. There will generally be no U.S. corporate taxes imposed on such future distributions of foreign earnings or foreign withholding and other local taxes. For the amounts we continue to assert permanent reinvestment, if the amounts were distributed, the company would be subject to approximately $3,326,000 in withholding taxes.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
COMMON STOCK	COMMON STOCKOn December 19, 2018, the Board of Directors of the Company declared a quarterly dividend of $.12 per share which was paid on January 29, 2019 to holders of record as of January 17, 2019.  The Company also announced a share repurchase program under which the Company is authorized to repurchase, in the aggregate, up to $30 million of its outstanding common stock.

Stock Options

Stock Options	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK OPTIONS	STOCK OPTIONS Incentive Stock Option Plan On May 7, 2015, the stockholders of the Company approved the 2015 Incentive Stock Option Plan (“2015 ISO Plan”) and the Company reserved 400,000 shares of common stock for options to be issued under the 2015 ISO Plan. Each option becomes vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year. We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Following is a summary of activity in the Incentive Stock Option Plans for the periods indicated: 2018 2017 2016 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 172,875 $ 43.91 220,820 $ 37.39 254,195 $ 34.64 Granted 9,500 92.50 10,750 83.99 21,000 54.87 Exercised (41,205) 34.89 (54,945) 24.83 (43,775) 26.59 Canceled (1,000) 54.49 (3,750) 54.57 (10,600) 50.68 Options outstanding at end of year 140,170 49.78 172,875 43.91 220,820 37.39 Options exercisable at end of year 96,320 $ 41.56 111,875 $ 36.44 136,220 $ 29.66 Options available for grant at end of year 336,450 344,950 353,450 *Weighted Averages Options outstanding and exercisable at December 31, 2018 were as follows: Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $11.45 - $24.69 6,000 0.53 $ 13.66 6,000 $ 13.66 $26.45 - $42.70 54,520 3.58 $ 35.83 54,520 $ 35.83 $49.44 - $83.99 70,150 6.56 $ 57.92 35,800 $ 54.96 $92.50 - $92.50 9,500 9.36 $ 92.50 — $ — Total 140,170 96,320 *Weighted Averages The weighted-average grant-date fair values of options granted during 2018, 2017, and 2016 were $38.77, $36.00 and $27.48, respectively. Stock option expense was $482,000, $597,000 and $787,000 for years ending 2018, 2017, and 2016, respectively. As of December 31, 2018, there was $816,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of five years. Equity Incentive Plan Under the Company's 2009 Equity Incentive Plan the Company reserved 400,000 shares of common stock for options to purchase shares of common stock may be granted to non-employee directors. Options become vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year. 2018 2017 2016 Options available for grant at end of year 146,075 176,294 207,608 We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Non-Qualified Options Following is a summary of activity in the Non-Qualified Stock Option Plans for the periods indicated: 2018 2017 2016 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 67,000 $ 42.43 112,400 $ 34.48 127,300 $ 32.05 Granted — — — — — — Exercised (26,800) 41.61 (45,400) 22.73 (14,900) 13.73 Canceled — — — — — — Options outstanding at end of year 40,200 42.99 67,000 42.43 112,400 34.48 Options exercisable at end of year 34,400 $ 41.21 50,400 $ 39.86 85,000 $ 29.61 *Weighted Averages Options outstanding and exercisable as of December 31, 2018 were as follows: Non-Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $11.45 - $24.69 8,000 0.36 $ 11.45 8,000 $ 11.45 $26.45 - $42.70 3,200 2.36 26.45 3,200 26.45 $49.44 - $83.99 29,000 5.37 $ 53.51 23,200 $ 53.51 Total 40,200 34,400 *Weighted Averages There were no options granted in 2016 , 2017 or 2018. Stock option expense was $22,000, $22,000 and $27,000 for years ending 2018, 2017, and 2016, respectively. As of December 31, 2018, there was $8,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of five years. During 2018, 2017, and 2016, 26,800, 45,400, and 14,900 non-qualified options were exercised, respectively, $1,115,000, $1,032,000, and $205,000 of cash receipts were received, respectively, and tax deductions of zero, zero, and $657,000 were realized, respectively, for the tax deductions from option exercises. Restricted Stock Awards/Units Following is a summary of activity in the Restricted Stock Awards for the periods indicated: 2018 2017 2016 Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Options outstanding at beginning of year 63,052 $ 70.08 45,621 $ 54.58 32,616 $ 53.31 Granted 35,300 92.50 33,620 84.34 27,440 55.17 Exercised (22,266) 66.91 (16,189) 56.03 (11,909) 52.67 Canceled (450) 83.99 — — (2,526) 53.57 Options outstanding at end of year 75,636 81.39 63,052 70.08 45,621 54.58 *Weighted Averages

Retirement Benefit Plans

Retirement Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
RETIREMENT BENEFIT PLANS	RETIREMENT BENEFIT PLANS Defined Benefit Plans In connection with the February 3, 2006 purchase of all the net assets of the Gradall excavator business, the Company assumed sponsorship of two Gradall non-contributory defined benefit pension plans, both of which are frozen with respect to both future benefit accruals and future new entrants. The Gradall Company Employees’ Retirement Plan covers approximately 252 former employees and 67 current employees who (i) were formerly employed by JLG Industries, Inc., (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 Gradall Company Hourly Employees’ Pension Plan covered former employees and current employees who (i) were formerly employed by JLG Industries, Inc., (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. On April 6, 2016, the Company notified all participants in the Gradall Company Hourly Employees’ Pension Plan of our decision to terminate the plan. Participants in the plan did not lose any benefits but were given a choice between obtaining certain continued annuity benefits that match the benefits offered under the plan or receiving an immediate one-time lump sum payment in total settlement of benefits. The Company made a final contribution of $622,000 and met all legal requirements to effectuate a proper termination of the plan before December 31, 2016. The Company expensed $2,889,000 related to accumulative pension actuarial losses relating to the closure of the Gradall Hourly Employees' Savings and Investment Plan that had been previously deferred in Other comprehensive income and deferred taxes. The following table sets forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to the plan. The measurement dates of the assets and liabilities of the plan were December 31 of the respective years presented. Reconciliation of Funded Status Year Ended December 31, (in thousands) 2018 2017 Change in projected benefit obligation Benefit obligation at beginning of year $ 21,552 $ 20,787 Service cost 4 4 Interest cost 757 831 Liability actuarial (gain) loss (1,270) 866 Benefits paid (993) (936) Benefit obligation at end of year 20,050 21,552 Change in fair value of plan assets Fair value of plan assets at beginning of year 20,327 17,858 Return on plan assets (1,228) 2,505 Employer contributions — 900 Benefits paid (993) (936) Fair value of plan assets at end of year 18,106 20,327 Funded status (1,944) $ (1,225) The Company recognizes the overfunded or underfunded status (i.e., the difference between the fair value of plan assets and the projected benefit obligations) of defined benefit postretirement plans as an asset or liability in its consolidated balance sheet and recognizes changes in the funded status in the year in which the changes occur. The Company measures the funded status of a plan as of the date of the year-end consolidated balance sheet. The underfunded status of the plan of $1,944,000 and $1,225,000 as of December 31, 2018 and 2017, respectively, is recognized in the accompanying consolidated balance sheets as long-term accrued pension liability because plan assets are less than the value of benefit obligations expected to be paid. The accumulated benefit obligation for our pension plan represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Rates to Determine Benefit Obligation Year Ended December 31, 2018 2017 Discount rate 4.20% 3.60% Composite rate of compensation increase N/A N/A Rates to Determine Net Periodic Benefit Cost Year Ended December 31, 2018 2017 Discount rate 3.60% 4.10% Long-term rate of return on plan assets 7.25% 7.25% Composite rate of compensation increase N/A N/A The Company employs a building block approach in determining the expected long-term rate of return on plan assets. Historical markets are studied and long-term historical relationships between equities and fixed income are preserved consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors such as inflation and interest rates are evaluated before long-term market assumptions are determined. The long-term portfolio return is established via a building block approach with proper consideration of diversification and re-balancing. Peer data and historical returns are reviewed to check for reasonability and appropriateness. The following table presents the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2018 2017 Service cost $ 4 $ 4 Interest cost 757 831 Expected return on plan assets (1,454) (1,275) Amortization of net loss 346 433 Net periodic benefit cost $ (347) $ (7) The Company estimates that $542,000 of unrecognized actuarial expense will be amortized from accumulated other comprehensive income (loss) into net periodic benefit costs during 2019. The Company employs a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities, plan funded status, and corporate financial condition. The investment portfolio contains a diversified blend of equity and fixed income investments. Furthermore, equity investments are diversified across U.S. and non-U.S. stocks, as well as growth, value, and small and large capitalization. Other assets such as real estate, private equity, and hedge funds are used judiciously to enhance long-term returns while improving portfolio diversification. Derivatives may be used to gain market exposure in an efficient and timely manner; however, derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements, and periodic asset/liability studies. Our current asset allocations are consistent with our targeted allocations. The pension plans' weighted-average asset allocation as a percentage of plan assets at December 31 are as follows: Asset Allocation as a Percentage of the Plan Year Ended December 31, 2018 2017 Equity securities 55% 55% Debt securities 38% 38% Short-term investments 2% 2% Other 5% 5% Total 100% 100% The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31 as described in Note 1 to the Consolidated Financial Statements: December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,176 $ 1,176 $ — $ — Large Cap 2,618 2,618 — — International 2,051 2,051 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 2,532 — 2,532 — Wells Fargo BlackRock International Equity 765 — 765 — Wells Fargo Core Bond 1,266 — 1,266 — Wells Fargo/Causeway International 766 — 766 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,026 — 1,026 — Wells Fargo BlackRock Large Cap Value Index Fund 1,025 — 1,025 — Wells Fargo Multi-Manager Small Cap 1,246 — 1,246 — Wells Fargo BlackRock Russell 2000 Index Fund 573 — 573 — Wells Fargo BlackRock S&P Mid Cap Index Fund 641 — 641 — Wells Fargo/MFS Value CIT F 516 — 516 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 516 — 516 — Wells Fargo/T. Rowe Price Equity Income 515 — 515 — Wells Fargo Voya Large Cap Growth CIT F 516 — 516 — Cash & Short-term Investments 358 358 — — Total $ 18,106 $ 6,203 $ 11,903 $ — December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,321 $ 1,321 $ — $ — Large Cap 2,930 2,930 — — International 2,300 2,300 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 2,845 — 2,845 — Wells Fargo BlackRock International Equity 859 — 859 — Wells Fargo Core Bond 1,416 — 1,416 — Wells Fargo/Causeway International 861 — 861 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,146 — 1,146 — Wells Fargo BlackRock Large Cap Value Index Fund 1,146 — 1,146 — Wells Fargo Multi-Manager Small Cap 1,387 — 1,387 — Wells Fargo BlackRock Russell 2000 Index Fund 636 — 636 — Wells Fargo BlackRock S&P Mid Cap Index Fund 715 — 715 — Wells Fargo/MFS Value CIT F 578 — 578 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 577 — 577 — T. Rowe Price Equity Income 577 — 577 — Wells Fargo Voya Large Cap Growth CIT F 577 — 577 — Cash & Short-term Investments 456 456 — — Total $ 20,327 $ 7,007 $ 13,320 $ — Our interests in the common collective trust investments are managed by one custodian. Consistent with our investment policy, the custodian has invested the assets across a widely diversified portfolio of U.S. and international equity and fixed income securities. Fair values of each security within the collective trust as of December 31, 2018 were obtained from the custodian and are based on quoted market prices of individual investments; however, since the fund itself does not have a quoted market price, these assets are considered Level 2. The common collective funds noted in the above table have estimated fair value using the net asset value per share of investments. Investments can be redeemed immediately at the current net asset value per share based on the fair value of the underlying assets. Redemption frequency is daily. The categories contain investments in equity securities of smaller growing companies, medium-sized U.S. companies, large value-oriented and growth-oriented companies, and foreign companies traded on international markets. Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation as of December 31, 2018. The following table illustrates the estimated pension benefit payments that are projected to be paid: Projected Future Benefit Payments (in thousands) Employees’ Retirement Plan 2019 $ 1,151 2020 1,170 2021 1,233 2022 1,269 2023 1,283 Years 2024 through 2028 6,417 Supplemental Retirement Plan The Board of Directors 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 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 10 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 that 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. 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 expectancy. The net periodic costs are recognized as employees render the services necessary to earn the SERP benefits. 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%. In May of 2016, the Board added additional highly compensated employees to the plan. As of December 31, 2018, the current retirement benefit (as defined in the plan) for the participants ranges from 10% to 20%. The change in the Projected Benefit Obligation (PBO) as of December 31, 2018 and 2017, is shown below: Reconciliation of Benefit Obligation Year Ended December 31, (in thousands) 2018 2017 Benefit obligation at January 1, $ 5,945 $ 5,387 Service cost 249 198 Interest cost 248 204 Liability actuarial loss (gain) (328) 247 Benefits paid (98) (91) Plan amendments 1,430 — Benefit obligation at December 31, $ 7,446 $ 5,945 The components of net periodic pension expense were as follows: Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2018 2017 Service cost $ 249 $ 198 Interest cost 248 204 Amortization of prior service cost 501 406 Net periodic benefit cost $ 998 $ 808 The Company estimates that $317,000 of unrecognized actuarial expense will be amortized from accumulated other comprehensive income into net periodic benefit costs during 2019. In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Assumptions used to determine benefit obligations at December 31: Rates to Determine Benefit Obligation 2018 2017 Discount rate 4.10% 3.45% Composite rate of compensation increase 3.00% 3.00% Assumptions used to determine net periodic benefit cost for the years ended December 31: Rates to Determine Net Periodic Benefit Cost 2018 2017 Discount rate 3.45% 3.85% Composite rate of compensation increase 3.00% 3.00% Long-term rate of return on plan assets N/A N/A Future estimated benefits expected to be paid from the plan over the next ten years as follows: Projected Future Benefit Payments (in thousands) SERP 2019 $ 375 2020 397 2021 405 2022 499 2023 504 Years 2024 through 2028 3,255 Defined Contribution Plans The Company has two defined contribution plans, The Gradall Salaried Employees’ Savings and Investment Plan (“Salary Plan”) and The International Association of Machinist and Aerospace Workers Retirement Plan (“IAM Plan”). The Company contributed $418,000, $408,000, and $435,000 to the IAM Plan for the plan years ended December 31, 2018, 2017 and 2016, respectively. The Company converted the Salary Plan into its 401(k) retirement and savings plan and put the Hourly Plan into a separate 401(k) retirement and savings plan. The Company provides a defined contribution 401(k) retirement and savings plan for eligible U.S. employees. Company matching contributions are based on a percentage of employee contributions. Company contributions to the plan during 2018, 2017 and 2016 were $2,340,000, $1,942,000, and $1,900,000, respectively. Three of the Company’s international subsidiaries also participate in a defined contribution and savings plan covering eligible employees. The Company’s international subsidiaries contribute between 0% and 10% of the participant’s salary up to a specific limit. Total contributions made to the above plans were $850,000, $716,000, and $735,000 for the years ended December 31, 2018, 2017 and 2016, respectively.

Revenue and Segment Reporting

Revenue and Segment Reporting	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
REVENUE AND SEGMENT REPORTING	REVENUE AND SEGMENT REPORTING Disaggregation of revenue is presented in the tables below by product type. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type December 31, (in thousands) 2018 2017 2016 Net Sales Wholegoods $ 802,403 $ 714,862 $ 663,331 Parts 186,979 182,412 167,411 Other 19,440 15,106 14,006 Consolidated $ 1,008,822 $ 912,380 $ 844,748 Other includes rental sales, extended warranty sales and service sales as it is considered immaterial. The Company has included a summary of the financial information by reporting segment. The following table presents the revenues and income from operations by reporting segment for the years ended December 31, 2018, 2017, and 2016: December 31, (in thousands) 2018 2017 2016 Net Revenue Industrial $ 598,930 $ 522,706 $ 484,088 Agricultural 235,069 227,389 205,834 European 174,823 162,285 154,826 Consolidated $ 1,008,822 $ 912,380 $ 844,748 Income from Operations Industrial $ 64,213 $ 51,914 $ 35,984 Agricultural 22,649 24,059 20,720 European 14,226 12,765 10,916 Consolidated $ 101,088 $ 88,738 $ 67,620 The following table presents the goodwill and total identifiable assets by reporting segment for the years ended December 31, 2018 and 2017: December 31, (in thousands) 2018 2017 Goodwill Industrial $ 61,107 $ 61,682 Agricultural 6,230 6,357 European 15,906 16,722 Consolidated $ 83,243 $ 84,761 Identifiable Assets Industrial $ 421,539 $ 369,271 Agricultural 162,548 141,023 European 137,546 129,377 Consolidated $ 721,633 $ 639,671

International Operations and Ge

International Operations and Geographic Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
INTERNATIONAL OPERATIONS AND GEOGRAPHIC INFORMATION	INTERNATIONAL OPERATIONS AND GEOGRAPHIC INFORMATION Following is selected financial information on the Company’s international operations, which include Europe, Canada and Australia: International Operations Financial Information December 31, (in thousands) 2018 2017 2016 Net sales $ 297,246 $ 254,144 $ 232,291 Income from operations 28,301 23,110 18,544 Income before income taxes 29,254 22,476 18,720 Identifiable assets 244,888 227,758 167,990 Following is other selected geographic financial information on the Company’s operations: Geographic Financial Information December 31, (in thousands) 2018 2017 2016 Geographic net sales: United States $ 726,582 $ 663,600 $ 615,028 United Kingdom 51,043 44,416 45,184 France 90,956 86,443 79,070 Canada 62,077 52,332 48,357 Australia 9,055 12,778 13,580 Brazil 16,829 9,321 2,665 Other 52,280 43,490 40,864 Total net sales $ 1,008,822 $ 912,380 $ 844,748 Geographic location of long-lived assets: United States $ 191,958 $ 171,048 $ 166,707 United Kingdom 19,270 18,948 16,254 France 18,650 19,324 16,772 Canada 21,647 24,302 19,435 Australia 815 917 1,401 Brazil 15,701 11,558 3,621 Total long-lived assets $ 268,041 $ 246,097 $ 224,190 Net sales are attributed to countries based on the location of customers.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Leases The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2018, future minimum lease payments under these non-cancelable leases are: Future Minimum Lease Payments (in thousands) Operating Leases Capitalized Leases 2019 $ 3,310 $ 119 2020 2,453 94 2021 1,308 64 2022 743 21 2023 419 — Thereafter 79 — Total minimum lease payments $ 8,312 $ 298 Rental expense for operating leases was $5,087,000 for 2018, $4,788,000 for 2017, and $4,060,000 for 2016. Other Commitments 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.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (Unaudited)	QUARTERLY FINANCIAL DATA (Unaudited) Summarized quarterly financial data for 2018 and 2017 are presented below. Seasonal influences affect the Company’s sales and profits, with heavier business occurring in May through August. (in thousands, except per share amounts) 2018 2017 First Second Third Fourth First Second Third Fourth (1) Sales $ 238,087 $ 257,125 $ 257,572 $ 256,038 $ 215,389 $ 213,276 $ 240,455 $ 243,260 Gross profit 60,257 66,454 66,772 62,632 54,164 54,679 64,939 60,911 Net income 14,583 18,771 23,543 16,589 12,167 12,316 16,592 3,240 Earnings per share Diluted $ 1.24 $ 1.60 $ 2.00 $ 1.41 $ 1.05 $ 1.05 $ 1.42 $ 0.27 Average shares Diluted 11,739 11,759 11,777 11,768 11,620 11,671 11,708 11,727 Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.10 $ 0.10 $ 0.10 $ 0.10 Market price of common stock High $ 120.22 $ 118.93 $ 102.29 $ 93.45 $ 79.50 $ 92.67 $ 107.69 $ 119.50 Low $ 103.38 $ 88.60 $ 88.13 $ 72.85 $ 71.20 $ 71.72 $ 86.80 $ 104.87 (1) The Net income for the fourth quarter of 2017 includes a one-time charge of $10.1 million relating to the U.S. tax reform act. The sum of quarterly earnings per share may not equal total year earnings per share due to rounding of earnings per share amounts, and differences in weighted-average shares and equivalent shares outstanding for each of the periods presented.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSOn February 21, 2019, the Company announced that it entered into an agreement to acquire 100% of the outstanding capital shares of Dutch Power Company B.V. (“Dutch Power”), a privately held equipment manufacturer based in the Netherlands. Dutch Power designs, manufactures and sells a variety of landscape and vegetation management machines and attachments under several different brand names including Herder, Conver, Roberine, Votex and Precision Makers. The acquisition is expected to close in the first quarter of 2019.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of Alamo Group Inc. and its subsidiaries (the “Company” or “Alamo Group”), all of which are wholly owned. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenues, and expenses reported in the financial statements and accompanying notes. Judgments related to asset impairment and certain reserves are particularly subject to change. Actual results could differ from those estimates. Such estimates include, but are not limited to, allowance for doubtful accounts, reserve for sales discounts, estimated realizable value on obsolete and slow-moving inventory, warranty reserve, estimates related to pension accounting; estimates related to fair value for purposes of assessing goodwill, long-lived assets and intangible assets for impairment; estimates related to income taxes; and estimates related to contingencies.
Foreign Currency	Foreign Currency The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the end of the year. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in accumulated other comprehensive income (loss).
Cash Equivalents	Cash EquivalentsThe Company considers all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents.
Concentration of Credit Risk	Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The credit risk is limited because of the large numbers and types of customers and their geographic dispersion.
Inventories	InventoriesInventories of U.S. operating subsidiaries are stated at the lower of cost (last-in, first-out method) (“LIFO”) or market, and the Company’s international subsidiaries’ inventories are stated at the lower of cost (first-in, first-out) (“FIFO”) or market. Inventory costs include those costs directly attributable to products, including raw materials, labor and overhead.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant, and equipment are stated on the basis of cost. Major renewals and betterments are charged to the property accounts while replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed to the current period. Depreciation is provided at amounts calculated to amortize the cost of the assets over their estimated useful economic lives using the straight-line method.
Impairment of Long-lived assets	Impairment of Long-Lived Assets
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is instead tested for impairment at least annually, or whenever events or circumstances change between the annual impairment tests that make it likely that an impairment may have occurred, such as a significant adverse change in the business climate or a decision to sell all or a portion of a reporting unit. The Company performs its annual test for goodwill impairment related to its reporting units on October 1 of each fiscal year. Impairment testing for goodwill is done at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (also known as a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. We perform a qualitative assessment for all of our reporting units to determine whether it is more likely than not that an impairment exists. Factors considered include macroeconomic, industry and competitive conditions, legal and regulatory environment, historical financial performance and significant changes in the reporting unit. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is performed. Alternatively, we may also bypass the qualitative assessment and go ahead and perform step 1 to determine if the carrying amount exceeds the reporting unit’s fair value. If the fair value of the reporting unit is lower than its carrying amount, goodwill is written down for the amount by which the carrying amount exceeds the fair value. However, the loss recognized cannot exceed the carrying amount of goodwill. We typically use discounted cash flow models to determine the fair value of a reporting unit. The assumptions used in these models are consistent with those we believe a hypothetical marketplace participant would use.
Intangible Assets	Intangible Assets The Company has intangible assets with both definite and indefinite useful lives. The definite-lived assets are trade names and trademarks, customer and dealer relationships, and patents and drawings that are subject to amortization with useful lives ranging from 3 years to 25 years. Impairment of definite-lived assets is discussed as part of the Impairment of Long-Lived Assets paragraph above. The indefinite-lived assets not subject to amortization consist of trade names. The Company tests its indefinite-lived intangible assets for impairment on an annual basis at year-end, or more frequently if an event occurs or circumstances change that indicate that the fair value of an indefinite-lived intangible asset could be below its carrying amount. The impairment test consists of comparing the fair value of the indefinite-lived intangible asset, determined using the relief from royalty method, with its carrying amount. An impairment loss would be recognized for the carrying amount in excess of its fair value.
Pensions	Pensions The Company records annual amounts relating to its pension and post-retirement plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases, turnover rates and health care cost trend rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in accumulated other comprehensive income (loss) and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions. The net periodic costs are recognized as employees render the services necessary to earn the post-retirement benefits.
Revenue Recognition	Revenue Recognition The following policy resulted from our adoption of the provisions of ASC Topic 606, “Revenue from Contracts with Customers,” effective January 1, 2018, as described above in “Accounting Pronouncements Adopted on January 1, 2018.” The majority of the Company's revenue is recognized from product sales under contracts with customers. The Company presents three reportable operating segments within its financial statements; Industrial, Agricultural and European. Contract terms and performance obligations within each contractual agreement are generally consistent for all three divisions with small differences that do not have a significant impact on the revenue recognition considerations under Topic 606. Revenues are recognized when we satisfy our performance obligation to transfer product to our customers, which typically occurs at a point in time upon shipment or delivery of the product, and for an amount that reflects the transaction price that is allocated to the performance obligation. Our contracts with customers state the final terms of sale, including the description, quantity and price for goods sold. In the normal course of business, we generally do not accept product returns. The transaction price is the consideration that we expect to be entitled to in exchange for our products. Some of our contracts contain variable consideration in the form of sales incentives to our customers, such as discounts and rebates. For contracts that include variable consideration, we estimate the factors that determine the variable consideration in order to establish the transaction price. We have elected that any taxes collected from customers and remitted to government authorities (i.e. sales tax, use tax, etc.) are excluded from the measurement of the transaction price and therefore are excluded from net sales in the consolidated statements of operations. There are instances where we provide shipping services in relation to the goods sold to our customers. Shipping and handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are included in cost of goods sold. We have elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e. an expense) rather than as a promised service.
Rental Equipment	Rental EquipmentThe Company enters into operating lease agreements with customers related to the rental of certain equipment. In accounting for these leases, the cost of the equipment purchased or manufactured by the Company is recorded as an asset, and is depreciated over its estimated useful life.
Shipping and Handling Costs	Shipping and Handling Costs The Company’s policy is to include shipping and handling costs in costs of goods sold.
Advertising	Advertising We charge advertising costs to expense as incurred. Advertising and marketing expense related to operations for fiscal years 2018, 2017, and 2016 was approximately $11,773,000, $9,566,000 and $7,742,000, respectively. Advertising and marketing expenses are included in Selling, General and Administrative expenses (“SG&A”).
Research and Development	Research and DevelopmentProduct development and engineering costs charged to SG&A
Commitments and Contingencies	Commitments and Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company's policy is to accrue for legal costs expected to be incurred in connection with loss contingencies.
Income Taxes	Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial reporting basis and tax basis of assets and liabilities, and are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, available tax carry backs and tax planning strategies in making this assessment other than those which we have reserved. We have elected to treat the global intangible low-taxed income (GILTI) tax as a period expense.
Stock-Based Compensation	Stock-Based Compensation The Company has granted options to purchase its common stock 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 that 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. Excess tax benefits or awards that are recognized in equity related to stock option exercises are reflected as cash flows from financing activities in the statement of cash flows. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the following assumptions noted: 1. The risk-free rate is based on the U.S. Treasury rate over the expected life of the option at the time of the grant. 2. The dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of the grant. 3. The expected volatility factors are based on the historical movement of the Company’s common stock price over the expected life of the option. 4. The expected life is the average length of time in which officers, other employees, and non-employee directors are expected to exercise their options, and which are primarily based on historical experience.
Earnings per Common Share (EPS)	Earnings per Common Share (“EPS”) Basic EPS is computed using the weighted-average number of common shares outstanding during the year. The treasury stock method is used to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under the Company’s incentive stock option plans. The treasury stock method assumes proceeds obtained upon exercise of awards granted under the incentive stock option plans are used to purchase outstanding common stock at the average market price during the period.
Accounting Pronouncements	Accounting Pronouncements Adopted on January 1, 2018 In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605. “Revenue Recognition,” and most industry-specific guidance. Effective January 1, 2018 the Company adopted the provisions of Topic 606 using the modified retrospective method of adoption. There was no impact to our financial position or results of operations as of and for the year ending December 31, 2018 as a result of adopting Topic 606. Therefore, there was no cumulative-effect adjustment to retained earnings as of January 1, 2018 for the impact of the adoption of Topic 606. See “Revenue Recognition” below for our accounting policy affected by our adoption of Topic 606. Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, “Leases.” This update requires that a lessee recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. Similar to current guidance, the update continues to differentiate between finance leases and operating leases, however this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. The updated guidance leaves the accounting for leases by lessors largely unchanged from existing GAAP. The guidance will become effective for us on January 1, 2019. As a lessee, this standard will primarily impact our accounting for long-term real estate and office equipment leases, for which we will recognize a right-of-use asset and a corresponding lease liability on our consolidated balance sheet. We will apply this guidance prospectively, beginning January 1, 2019 and currently estimate the impact on our balance sheet to be approximately $8 million. We are nearing completion of our process to implement a lease accounting system for our leases, including the conversion of our existing lease data to the new system and implementing relevant internal controls and procedures. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses,” to improve information on credit losses for financial instruments. The ASU replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The ASU is effective for the Company for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted beginning in fiscal years beginning after December 18, 2018. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” to allow reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA"). Upon adoption of the ASU, entities will be required to disclose a description of the accounting policy for releasing income tax effects from accumulated other comprehensive income. The standard is required to be adopted for periods beginning after December 15, 2018, with early adoption available for any set of financial statements that have yet to be issued or made available for issuance including retrospectively for any period in which the effect of the change is the U.S. corporate income tax rate in the TCJA is recognized. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740)-Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118,” which amends certain SEC material in Topic 740 for the income tax accounting implications of the recently issued Tax Reform. This guidance clarifies the application of Topic 740 in situations where a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting under ASC Topic 740 for certain income tax effects of Tax Reform for the reporting period in which the Tax Reform was enacted. During 2018, we revised our initial provisional amount recorded for the transitional tax on the deemed repatriation of the accumulated earnings and profits of our international subsidiaries and the impact of the federal tax rate change on the value of our deferred tax assets and liabilities. For further information, see Note 13 to the consolidated financial statements. In August 2018, the FASB issued Accounting Statement Update (ASU) No. 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”, which modifies the disclosures requirements on fair value measurements. Among other things, the amendments add disclosures for changes in unrealized gains and losses on Level 3 fair value measurements and requires additional disclosures on unobservable inputs associated with Level 3 assets. The guidance will become effective for us on January 1, 2020. The impacts that adoption of the ASU is expected to have on our financial disclosures is being evaluated. In August 2018, the FASB issued Accounting Statement Update (ASU) No. 2018-14, “Compensation, Defined Benefit Plans,” which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The update removes certain disclosures that are no longer considered cost beneficial and adds disclosure requirements identified as relevant. The guidance will become effective for us on January 1, 2021 with early adoption permitted for any financial statements that have not been issued. The impacts that adoption of the ASU is expected to have on our financial disclosures is being evaluated.
Inventories - Obsolete and Slow Moving	Inventories – Obsolete and Slow Moving The Company had a reserve of $7,194,000 on December 31, 2018 and $6,932,000 on December 31, 2017 to cover obsolete and slow moving inventory. The increase in the reserve was primarily attributable to the Company's Industrial Division. The obsolete and slow moving inventory reserve is calculated as follows: 1) no inventory usage over a three-year period is deemed obsolete and reserved at 100%; and 2) slow moving inventory with little usage requires a 100% reserve on items that have a quantity greater than a three-year supply. There are exceptions to the obsolete and slow moving classifications if approved by an officer of the Company, based on specific identification of an item or items that are deemed to be either included or excluded from this classification. In cases where there is no historical data, management makes a judgment based on a specific review of the inventory in question to determine what reserves, if any, are appropriate. New products or parts are generally excluded from the reserve until a three-year history has been established.
Warranty	Warranty The Company’s warranty policy is generally to provide its customers warranty for up to one year on all wholegood units and 90 days on parts, though some components can have warranty for longer terms.
Fair Value of Financial Instruments	U.S. GAAP requires or permits certain assets or liabilities to be measured at fair value on a recurring or non recurring basis in our balance sheets. U.S. GAAP also requires the disclosure of the fair values of financial instruments when on option to elect fair value accounting has been provided, but such election has not been made. A debt obligation is an example of such a financial instrument. Fair value is defined 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. In fair value, measurements are classified under the following hierarchy: Level 1 – Quoted prices for identical assets or liabilities 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. When measuring fair value, the Company maximizes use of observable inputs and minimizes the use of unobservable inputs. Fair value measurements are classified to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of December 31, 2018 and 2017, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs. Other than the investments held by the retirement benefit plans, as described in Note 16 to the Consolidated Financial Statements, the Company does not have any other significant financial assets or liabilities measured at fair value on a recurring basis. The carrying value of our debt approximates the fair value as of December 31, 2018 and 2017, as our borrowings bear interest based upon short-term floating market interest rates. The fair value measurement for these liabilities is categorized as Level 2 in the fair value hierarchy. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Fair value measurements are also used in connection with nonrecurring valuations performed in connection with impairment assessments and acquisition accounting. In completing the analysis of the fair values of certain assets acquired as part of business acquisitions, discounted cash flow models were used, which were principally based upon internal assumptions. In valuing certain of the acquired intangible assets, we used an excess earnings methodology, which is a form of a discounted cash flow analysis. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The Company calculated the fair value for options with the following weighted-average assumptions for 2018, 2017, and 2016: Fair Value Calculation Assumptions for Stock Compensation December 31, 2018 2017 2016 Risk-free interest rate 2.94 % 2.23 % 1.54 % Dividend yield 0.5 % 0.5 % 0.6 % Volatility factors 34.5 % 37.6 % 48.5 % Weighted-average expected life 8.0 years 8.0 years 8.0 years

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Estimated fair value of assets acquired and liabilities assumed as of the acquisition date	The following represents the final fair value of the assets acquired and liabilities assumed for all acquisitions as of the acquisition dates (in thousands): Cash $ 2,547 Accounts receivable 7,111 Inventory 15,387 Prepaid expenses 134 Property, plant & equipment 5,902 Intangible assets 5,855 Other assets 1,057 Other liabilities assumed (5,635) Net assets assumed $ 32,358 Goodwill 8,741 Acquisition Price $ 41,099

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
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 does not differ. (in thousands, except per share amounts) 2018 2017 2016 Net income $ 73,486 $ 44,315 $ 40,045 Average common shares: Basic (weighted-average outstanding shares) 11,660 11,549 11,434 Dilutive potential common shares from stock options 101 133 131 Diluted (weighted-average outstanding shares) 11,761 11,682 11,565 Basic earnings per share $ 6.30 $ 3.84 $ 3.50 Diluted earnings per share $ 6.25 $ 3.79 $ 3.46

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of Valuation and Qualifying Accounts	Valuation and qualifying accounts included the following: (in thousands) Balance Beginning of Year Net Charged to Costs and Expenses Translations, Reclassifications and Acquisitions Net Write-Offs or Discounts Taken Balance End of Year 2018 Reserve for sales discounts $ 15,652 $ 91,082 $ (48) $ (88,563) $ 18,123 Reserve for inventory obsolescence 6,932 3,773 (116) (3,395) 7,194 Reserve for warranty 5,335 5,815 (144) (6,014) 4,992 2017 Reserve for sales discounts $ 13,488 $ 82,724 $ 166 $ (80,726) $ 15,652 Reserve for inventory obsolescence 7,262 3,007 886 (4,223) 6,932 Reserve for warranty 5,262 7,224 567 (7,718) 5,335 2016 Reserve for sales discounts $ 15,094 $ 77,126 $ (109) $ (78,623) $ 13,488 Reserve for inventory obsolescence 9,675 2,041 295 (4,749) 7,262 Reserve for warranty 5,566 7,867 (49) (8,122) 5,262

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consisted of the following on a cost basis, net of reserves for obsolescence and LIFO: December 31, (in thousands) 2018 2017 Finished goods and parts $ 149,298 $ 133,161 Work in process 12,732 10,243 Raw materials 14,600 12,164 Inventory, net $ 176,630 $ 155,568

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following: December 31, (in thousands) 2018 2017 Useful Lives Land $ 11,970 $ 9,920 Buildings and improvements 90,065 82,412 5-20 yrs. Machinery and equipment 88,806 83,445 3-10 yrs. Office furniture and equipment 10,290 8,153 3-7 yrs. Computer software 11,410 12,500 3-7 yrs. Transportation equipment 6,594 5,863 3 yrs. Property, plant and equipment, at cost 219,135 202,293 Accumulated depreciation (131,905) (125,629) Property, plant and equipment, net $ 87,230 $ 76,664

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the twelve months ended December 31, 2016, 2017, and 2018 are as follows: Industrial Agricultural European Consolidated (in thousands) Balance at December 31, 2015 $ 56,293 $ 2,984 $ 16,232 $ 75,509 Translation adjustment 154 505 (1,343) (684) Balance at December 31, 2016 $ 56,447 $ 3,489 $ 14,889 $ 74,825 Translation adjustment 389 (27) 1,833 2,195 Goodwill acquired 4,846 2,895 — 7,741 Balance at December 31, 2017 $ 61,682 $ 6,357 $ 16,722 $ 84,761 Translation adjustment (659) (901) (816) (2,376) Goodwill adjustment 84 774 — 858 Balance at December 31, 2018 $ 61,107 $ 6,230 $ 15,906 $ 83,243

Definite- and Indefinite-Live_2

Definite- and Indefinite-Lived Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	The following is a summary of both the Company's definite- and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, December 31, 2017 Definite: Trade names and trademarks 25 years $ 23,938 $ 25,574 Customer and dealer relationships 10-14 years 32,260 31,356 Patents and drawings 3-12 years 2,061 1,982 Total at cost 58,259 58,912 Less accumulated amortization (14,902) (11,540) Total net 43,357 47,372 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 48,857 $ 52,872
Schedule of Indefinite-Lived Intangible Assets	The following is a summary of both the Company's definite- and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, December 31, 2017 Definite: Trade names and trademarks 25 years $ 23,938 $ 25,574 Customer and dealer relationships 10-14 years 32,260 31,356 Patents and drawings 3-12 years 2,061 1,982 Total at cost 58,259 58,912 Less accumulated amortization (14,902) (11,540) Total net 43,357 47,372 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 48,857 $ 52,872

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following balances: December 31, (in thousands) 2018 2017 Salaries, wages and bonuses $ 22,598 $ 25,100 Taxes 6,621 3,463 Warranty 4,992 5,335 Retirement Provision 2,646 2,792 Customer Deposits 2,520 200 Other 4,408 3,564 Accrued Liabilities $ 43,785 $ 40,454

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Components of Long-Term Debt	The components of long-term debt are as follows: December 31, (in thousands) 2018 2017 Bank revolving credit facility $ 85,000 $ 60,000 Capital lease obligations 298 — Other notes payable — 82 Total debt 85,298 60,082 Less current maturities 119 82 Total long-term debt $ 85,179 $ 60,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The jurisdictional components of income before taxes consist of the following: December 31, (in thousands) 2018 2017 2016 Income before income taxes: Domestic $ 66,858 $ 61,329 $ 44,446 Foreign 27,673 21,038 17,743 $ 94,531 $ 82,367 $ 62,189
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) consist of the following: December 31, (in thousands) 2018 2017 2016 Current: Domestic $ 6,771 $ 26,713 $ 11,958 Foreign 7,391 6,222 5,491 State 4,831 3,789 2,075 18,993 36,724 19,524 Deferred: Domestic 2,542 1,711 1,580 Foreign (390) (155) 934 State (100) (228) 106 2,052 1,328 2,620 Total income taxes $ 21,045 $ 38,052 $ 22,144
Schedule of Effective Income Tax Rate Reconciliation	The difference between income tax expense (benefit) for financial statement purposes and the amount of income tax expense computed by applying the domestic statutory income tax rate of 21% in 2018 and 35% in 2017 and 2016 to income before income taxes consists of the following: December 31, (in thousands) 2018 2017 2016 Income tax expense at statutory rates $ 19,851 $ 28,828 $ 21,766 Increase (reduction) from: Jurisdictional rate differences 719 (1,863) (1,936) Valuation allowance (267) 308 1,731 Stock based compensation (205) (778) 275 U.S. state taxes 3,917 2,463 1,295 Domestic production deduction — (1,039) (618) R&D credit (531) (500) (329) GILTI 673 — — Other, net 219 397 (40) Provision for income taxes before tax reform $ 24,376 $ 27,816 $ 22,144 Effective tax rate before effects of tax reform 26 % 34 % 36 % Tax Reform: Rate change of deferreds 1,200 (3,334) — Transition tax on deemed repatriation (4,531) 13,104 — Other — 466 — Impact of tax reform $ (3,331) $ 10,236 $ — Provision for income tax $ 21,045 $ 38,052 $ 22,144 Effective tax rate 22 % 46 % 36 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company’s deferred income tax assets and liabilities consist of the following: December 31, (in thousands) 2018 2017 Deferred income tax assets: Inventory basis difference $ 1,825 $ 571 Accounts receivable reserve 251 310 Rental equipment and Property, plant and equipment 56 4 Stock based compensation 672 549 Pension liability 3,204 2,859 Employee benefit accrual 1,911 2,193 Product liability and warranty reserves 1,294 1,211 Foreign net operating loss 4,164 4,266 State net operating loss 148 286 Foreign tax credit — 4,106 Other (156) 216 Total deferred income tax assets $ 13,369 $ 16,571 Less: Valuation allowance (3,696) (8,519) Net deferred income tax assets $ 9,673 $ 8,052 Deferred income tax liabilities: Rental equipment and Property, plant and equipment (9,928) (7,477) Intangible assets (8,944) (7,064) Expenses not currently deductible for book purposes (749) (887) Total deferred income tax liabilities $ (19,621) $ (15,428) Net deferred income taxes $ (9,948) $ (7,376)
Schedule of Unrecognized Tax Benefits Roll Forward	We do not expect our unrecognized tax benefits disclosed above to change significantly over the next 12 months. Unrecognized Tax Benefits December 31, 2018 2017 Balance as of beginning of year $ 234,000 $ 235,000 Additions for tax positions related to the current year 63,000 62,000 Additions for tax positions related to prior years — — Reduction due to lapse of statute of limitations (61,000) (63,000) Balance as of end of year $ 236,000 $ 234,000

Stock Options (Tables)

Stock Options (Tables)	12 Months Ended
	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	2018 2017 2016 Options available for grant at end of year 146,075 176,294 207,608
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Following is a summary of activity in the Restricted Stock Awards for the periods indicated: 2018 2017 2016 Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Options outstanding at beginning of year 63,052 $ 70.08 45,621 $ 54.58 32,616 $ 53.31 Granted 35,300 92.50 33,620 84.34 27,440 55.17 Exercised (22,266) 66.91 (16,189) 56.03 (11,909) 52.67 Canceled (450) 83.99 — — (2,526) 53.57 Options outstanding at end of year 75,636 81.39 63,052 70.08 45,621 54.58 *Weighted Averages
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 periods indicated: 2018 2017 2016 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 172,875 $ 43.91 220,820 $ 37.39 254,195 $ 34.64 Granted 9,500 92.50 10,750 83.99 21,000 54.87 Exercised (41,205) 34.89 (54,945) 24.83 (43,775) 26.59 Canceled (1,000) 54.49 (3,750) 54.57 (10,600) 50.68 Options outstanding at end of year 140,170 49.78 172,875 43.91 220,820 37.39 Options exercisable at end of year 96,320 $ 41.56 111,875 $ 36.44 136,220 $ 29.66 Options available for grant at end of year 336,450 344,950 353,450 *Weighted Averages
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Options outstanding and exercisable at December 31, 2018 were as follows: Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $11.45 - $24.69 6,000 0.53 $ 13.66 6,000 $ 13.66 $26.45 - $42.70 54,520 3.58 $ 35.83 54,520 $ 35.83 $49.44 - $83.99 70,150 6.56 $ 57.92 35,800 $ 54.96 $92.50 - $92.50 9,500 9.36 $ 92.50 — $ — Total 140,170 96,320 *Weighted Averages
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 periods indicated: 2018 2017 2016 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 67,000 $ 42.43 112,400 $ 34.48 127,300 $ 32.05 Granted — — — — — — Exercised (26,800) 41.61 (45,400) 22.73 (14,900) 13.73 Canceled — — — — — — Options outstanding at end of year 40,200 42.99 67,000 42.43 112,400 34.48 Options exercisable at end of year 34,400 $ 41.21 50,400 $ 39.86 85,000 $ 29.61 *Weighted Averages
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Options outstanding and exercisable as of December 31, 2018 were as follows: Non-Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $11.45 - $24.69 8,000 0.36 $ 11.45 8,000 $ 11.45 $26.45 - $42.70 3,200 2.36 26.45 3,200 26.45 $49.44 - $83.99 29,000 5.37 $ 53.51 23,200 $ 53.51 Total 40,200 34,400 *Weighted Averages

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following table sets forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to the plan. The measurement dates of the assets and liabilities of the plan were December 31 of the respective years presented. Reconciliation of Funded Status Year Ended December 31, (in thousands) 2018 2017 Change in projected benefit obligation Benefit obligation at beginning of year $ 21,552 $ 20,787 Service cost 4 4 Interest cost 757 831 Liability actuarial (gain) loss (1,270) 866 Benefits paid (993) (936) Benefit obligation at end of year 20,050 21,552 Change in fair value of plan assets Fair value of plan assets at beginning of year 20,327 17,858 Return on plan assets (1,228) 2,505 Employer contributions — 900 Benefits paid (993) (936) Fair value of plan assets at end of year 18,106 20,327 Funded status (1,944) $ (1,225)
Schedule of Allocation of Plan Assets	The pension plans' weighted-average asset allocation as a percentage of plan assets at December 31 are as follows: Asset Allocation as a Percentage of the Plan Year Ended December 31, 2018 2017 Equity securities 55% 55% Debt securities 38% 38% Short-term investments 2% 2% Other 5% 5% Total 100% 100%
Fair Value, Assets Measured on Recurring Basis	The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31 as described in Note 1 to the Consolidated Financial Statements: December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,176 $ 1,176 $ — $ — Large Cap 2,618 2,618 — — International 2,051 2,051 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 2,532 — 2,532 — Wells Fargo BlackRock International Equity 765 — 765 — Wells Fargo Core Bond 1,266 — 1,266 — Wells Fargo/Causeway International 766 — 766 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,026 — 1,026 — Wells Fargo BlackRock Large Cap Value Index Fund 1,025 — 1,025 — Wells Fargo Multi-Manager Small Cap 1,246 — 1,246 — Wells Fargo BlackRock Russell 2000 Index Fund 573 — 573 — Wells Fargo BlackRock S&P Mid Cap Index Fund 641 — 641 — Wells Fargo/MFS Value CIT F 516 — 516 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 516 — 516 — Wells Fargo/T. Rowe Price Equity Income 515 — 515 — Wells Fargo Voya Large Cap Growth CIT F 516 — 516 — Cash & Short-term Investments 358 358 — — Total $ 18,106 $ 6,203 $ 11,903 $ — December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,321 $ 1,321 $ — $ — Large Cap 2,930 2,930 — — International 2,300 2,300 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 2,845 — 2,845 — Wells Fargo BlackRock International Equity 859 — 859 — Wells Fargo Core Bond 1,416 — 1,416 — Wells Fargo/Causeway International 861 — 861 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,146 — 1,146 — Wells Fargo BlackRock Large Cap Value Index Fund 1,146 — 1,146 — Wells Fargo Multi-Manager Small Cap 1,387 — 1,387 — Wells Fargo BlackRock Russell 2000 Index Fund 636 — 636 — Wells Fargo BlackRock S&P Mid Cap Index Fund 715 — 715 — Wells Fargo/MFS Value CIT F 578 — 578 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 577 — 577 — T. Rowe Price Equity Income 577 — 577 — Wells Fargo Voya Large Cap Growth CIT F 577 — 577 — Cash & Short-term Investments 456 456 — — Total $ 20,327 $ 7,007 $ 13,320 $ —
Schedule of Changes in Projected Benefit Obligations	The change in the Projected Benefit Obligation (PBO) as of December 31, 2018 and 2017, is shown below: Reconciliation of Benefit Obligation Year Ended December 31, (in thousands) 2018 2017 Benefit obligation at January 1, $ 5,945 $ 5,387 Service cost 249 198 Interest cost 248 204 Liability actuarial loss (gain) (328) 247 Benefits paid (98) (91) Plan amendments 1,430 — Benefit obligation at December 31, $ 7,446 $ 5,945
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Rates to Determine Benefit Obligation Year Ended December 31, 2018 2017 Discount rate 4.20% 3.60% Composite rate of compensation increase N/A N/A Rates to Determine Net Periodic Benefit Cost Year Ended December 31, 2018 2017 Discount rate 3.60% 4.10% Long-term rate of return on plan assets 7.25% 7.25% Composite rate of compensation increase N/A N/A
Schedule of Net Benefit Costs	The following table presents the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2018 2017 Service cost $ 4 $ 4 Interest cost 757 831 Expected return on plan assets (1,454) (1,275) Amortization of net loss 346 433 Net periodic benefit cost $ (347) $ (7)
Schedule of Expected Benefit Payments	The following table illustrates the estimated pension benefit payments that are projected to be paid: Projected Future Benefit Payments (in thousands) Employees’ Retirement Plan 2019 $ 1,151 2020 1,170 2021 1,233 2022 1,269 2023 1,283 Years 2024 through 2028 6,417
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Assumptions used to determine benefit obligations at December 31: Rates to Determine Benefit Obligation 2018 2017 Discount rate 4.10% 3.45% Composite rate of compensation increase 3.00% 3.00% Assumptions used to determine net periodic benefit cost for the years ended December 31: Rates to Determine Net Periodic Benefit Cost 2018 2017 Discount rate 3.45% 3.85% Composite rate of compensation increase 3.00% 3.00% Long-term rate of return on plan assets N/A N/A
Schedule of Net Benefit Costs	The components of net periodic pension expense were as follows: Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2018 2017 Service cost $ 249 $ 198 Interest cost 248 204 Amortization of prior service cost 501 406 Net periodic benefit cost $ 998 $ 808
Schedule of Expected Benefit Payments	Future estimated benefits expected to be paid from the plan over the next ten years as follows: Projected Future Benefit Payments (in thousands) SERP 2019 $ 375 2020 397 2021 405 2022 499 2023 504 Years 2024 through 2028 3,255

Revenue and Segment Reporting (

Revenue and Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Disaggregation of Revenue	Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type December 31, (in thousands) 2018 2017 2016 Net Sales Wholegoods $ 802,403 $ 714,862 $ 663,331 Parts 186,979 182,412 167,411 Other 19,440 15,106 14,006 Consolidated $ 1,008,822 $ 912,380 $ 844,748
Schedule of Segment Reporting Information, by Segment	The following table presents the revenues and income from operations by reporting segment for the years ended December 31, 2018, 2017, and 2016: December 31, (in thousands) 2018 2017 2016 Net Revenue Industrial $ 598,930 $ 522,706 $ 484,088 Agricultural 235,069 227,389 205,834 European 174,823 162,285 154,826 Consolidated $ 1,008,822 $ 912,380 $ 844,748 Income from Operations Industrial $ 64,213 $ 51,914 $ 35,984 Agricultural 22,649 24,059 20,720 European 14,226 12,765 10,916 Consolidated $ 101,088 $ 88,738 $ 67,620 The following table presents the goodwill and total identifiable assets by reporting segment for the years ended December 31, 2018 and 2017: December 31, (in thousands) 2018 2017 Goodwill Industrial $ 61,107 $ 61,682 Agricultural 6,230 6,357 European 15,906 16,722 Consolidated $ 83,243 $ 84,761 Identifiable Assets Industrial $ 421,539 $ 369,271 Agricultural 162,548 141,023 European 137,546 129,377 Consolidated $ 721,633 $ 639,671

International Operations and _2

International Operations and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Following is selected financial information on the Company’s international operations, which include Europe, Canada and Australia: International Operations Financial Information December 31, (in thousands) 2018 2017 2016 Net sales $ 297,246 $ 254,144 $ 232,291 Income from operations 28,301 23,110 18,544 Income before income taxes 29,254 22,476 18,720 Identifiable assets 244,888 227,758 167,990
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Following is other selected geographic financial information on the Company’s operations: Geographic Financial Information December 31, (in thousands) 2018 2017 2016 Geographic net sales: United States $ 726,582 $ 663,600 $ 615,028 United Kingdom 51,043 44,416 45,184 France 90,956 86,443 79,070 Canada 62,077 52,332 48,357 Australia 9,055 12,778 13,580 Brazil 16,829 9,321 2,665 Other 52,280 43,490 40,864 Total net sales $ 1,008,822 $ 912,380 $ 844,748 Geographic location of long-lived assets: United States $ 191,958 $ 171,048 $ 166,707 United Kingdom 19,270 18,948 16,254 France 18,650 19,324 16,772 Canada 21,647 24,302 19,435 Australia 815 917 1,401 Brazil 15,701 11,558 3,621 Total long-lived assets $ 268,041 $ 246,097 $ 224,190

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule	As of December 31, 2018, future minimum lease payments under these non-cancelable leases are: Future Minimum Lease Payments (in thousands) Operating Leases Capitalized Leases 2019 $ 3,310 $ 119 2020 2,453 94 2021 1,308 64 2022 743 21 2023 419 — Thereafter 79 — Total minimum lease payments $ 8,312 $ 298

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Summarized quarterly financial data for 2018 and 2017 are presented below. Seasonal influences affect the Company’s sales and profits, with heavier business occurring in May through August. (in thousands, except per share amounts) 2018 2017 First Second Third Fourth First Second Third Fourth (1) Sales $ 238,087 $ 257,125 $ 257,572 $ 256,038 $ 215,389 $ 213,276 $ 240,455 $ 243,260 Gross profit 60,257 66,454 66,772 62,632 54,164 54,679 64,939 60,911 Net income 14,583 18,771 23,543 16,589 12,167 12,316 16,592 3,240 Earnings per share Diluted $ 1.24 $ 1.60 $ 2.00 $ 1.41 $ 1.05 $ 1.05 $ 1.42 $ 0.27 Average shares Diluted 11,739 11,759 11,777 11,768 11,620 11,671 11,708 11,727 Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.10 $ 0.10 $ 0.10 $ 0.10 Market price of common stock High $ 120.22 $ 118.93 $ 102.29 $ 93.45 $ 79.50 $ 92.67 $ 107.69 $ 119.50 Low $ 103.38 $ 88.60 $ 88.13 $ 72.85 $ 71.20 $ 71.72 $ 86.80 $ 104.87

Significant Accounting Polici_4

Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Accounting Policies [Line Items]
Number of principal reporting segments | segment	3
Restricted cash	$ 0	$ 0
Accumulated depreciation relating to rental equipment	$ 131,905,000	125,629,000
Options
Accounting Policies [Line Items]
Award vesting period (years)	5 years
Minimum
Accounting Policies [Line Items]
Estimated useful lives	3 years
Maximum
Accounting Policies [Line Items]
Estimated useful lives	25 years
Option term (years)	10 years
Rental Equipment
Accounting Policies [Line Items]
Accumulated depreciation relating to rental equipment	$ 11,145,000	9,413,000
Selling, General and Administrative expenses
Accounting Policies [Line Items]
Advertising expense	11,773,000	9,566,000	$ 7,742,000
Product development and engineering costs	$ 10,429,000	$ 9,849,000	$ 8,847,000

Significant Accounting Polici_5

Significant Accounting Policies (Schedule of Fair Value Assumptions and Methodology) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Risk-free interest rate (percentage)	2.94%	2.23%	1.54%
Dividend yield (percentage)	0.50%	0.50%	0.60%
Volatility factors (percentage)	34.50%	37.60%	48.50%
Weighted-average expected life	8 years	8 years	8 years

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Identifiable assets		$ 721,633	$ 639,671
Current liabilities		$ 100,852	$ 101,363
Accounting Standards Update 2016-02 | Subsequent Event | Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Identifiable assets	$ 8,000

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($) $ in Millions	Aug. 08, 2017	Jun. 26, 2017	Jun. 06, 2017
Santa Izabel Agro Industria, LTDA
Business Acquisition [Line Items]
Acquisition price			$ 10
Old Dominion
Business Acquisition [Line Items]
Acquisition price		$ 18
R.P.M.
Business Acquisition [Line Items]
Acquisition price	$ 13

Business Combinations (Schedule

Business Combinations (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 83,243	$ 84,761	$ 74,825	$ 75,509
R.P.M.
Business Acquisition [Line Items]
Cash	2,547
Accounts receivable	7,111
Inventory	15,387
Prepaid expenses	134
Property, plant & equipment	5,902
Intangible assets	5,855
Other assets	1,057
Other liabilities assumed	(5,635)
Net assets assumed	32,358
Goodwill	8,741
Acquisition Price	$ 41,099

Earnings Per Share (Calculation

Earnings Per Share (Calculation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income	$ 16,589	$ 23,543	$ 18,771	$ 14,583	$ 3,240	$ 16,592	$ 12,316	$ 12,167	$ 73,486	$ 44,315	$ 40,045
Average common shares:
Basic (weighted-average outstanding shares)									11,660,000	11,549,000	11,434,000
Dilutive potential common shares from stock options (in shares)									101,000	133,000	131,000
Diluted (weighted-average outstanding shares)	11,768,000	11,777,000	11,759,000	11,739,000	11,727,000	11,708,000	11,671,000	11,620,000	11,761,000	11,682,000	11,565,000
Basic earnings per share (in dollars per share)									$ 6.30	$ 3.84	$ 3.50
Diluted earnings per share (in dollars per share)	$ 1.41	$ 2	$ 1.60	$ 1.24	$ 0.27	$ 1.42	$ 1.05	$ 1.05	$ 6.25	$ 3.79	$ 3.46
Stock options excluded from diluted earnings per share calculation (in shares)									4,850	1,565	21,491

Valuation and Qualifying Acco_3

Valuation and Qualifying Accounts (Schedule of Valuation and Qualifying Accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reserve for sales discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	$ 15,652	$ 13,488	$ 15,094
Net Charged to Costs and Expenses	91,082	82,724	77,126
Translations, Reclassifications and Acquisitions	(48)	166	(109)
Net Write-Offs or Discounts Taken	(88,563)	(80,726)	(78,623)
Balance End of Year	18,123	15,652	13,488
Reserve for inventory obsolescence
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	6,932	7,262	9,675
Net Charged to Costs and Expenses	3,773	3,007	2,041
Translations, Reclassifications and Acquisitions	(116)	886	295
Net Write-Offs or Discounts Taken	(3,395)	(4,223)	(4,749)
Balance End of Year	7,194	6,932	7,262
Reserve for warranty
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	5,335	5,262	5,566
Net Charged to Costs and Expenses	5,815	7,224	7,867
Translations, Reclassifications and Acquisitions	(144)	567	(49)
Net Write-Offs or Discounts Taken	(6,014)	(7,718)	(8,122)
Balance End of Year	$ 4,992	$ 5,335	$ 5,262

Valuation and Qualifying Acco_4

Valuation and Qualifying Accounts (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Inventory obsolescence reserves	$ 7,194	$ 6,932
Inventory usage period	3 years
Inventory reserve percentage	100.00%
Product warranty accrual period of expenses used in calculation	12 months
Product warranty accrual period for sales used in calculation	12 months
Warranty	$ 4,992	5,335
Parts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty period	90 days
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty accrual lag period	90 days
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty accrual lag period	6 months
Maximum | Wholegoods
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty period	1 year
Reserve for sales discounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves for sales discounts on products shipped under promotional programs	$ 18,123	$ 15,652	$ 13,488	$ 15,094

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Percentage of LIFO inventory	60.00%	62.00%
Excess of current costs over stated LIFO value	$ 10,646	$ 7,919

Inventories (Schedule of Invent

Inventories (Schedule of Inventory, Current) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods and parts	$ 149,298	$ 133,161
Work in process	12,732	10,243
Raw materials	14,600	12,164
Inventory, net	$ 176,630	$ 155,568

Property, Plant and Equipment_2

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 219,135	$ 202,293
Less: Accumulated depreciation	(131,905)	(125,629)
Property, plant and equipment, net	87,230	76,664
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	11,970	9,920
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 90,065	82,412
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	20 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 88,806	83,445
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	10 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 10,290	8,153
Office furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Office furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 11,410	12,500
Computer software | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Computer software | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 6,594	$ 5,863
Useful Lives	3 years

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	$ 84,761	$ 74,825	$ 75,509
Translation adjustment	(2,376)	2,195	(684)
Goodwill acquired	858	7,741
Goodwill, balance at the end of the period	83,243	84,761	74,825
Industrial
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	61,682	56,447	56,293
Translation adjustment	(659)	389	154
Goodwill acquired	84	4,846
Goodwill, balance at the end of the period	61,107	61,682	56,447
Agricultural
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	6,357	3,489	2,984
Translation adjustment	(901)	(27)	505
Goodwill acquired	774	2,895
Goodwill, balance at the end of the period	6,230	6,357	3,489
European
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	16,722	14,889	16,232
Translation adjustment	(816)	1,833	(1,343)
Goodwill acquired	0	0
Goodwill, balance at the end of the period	$ 15,906	$ 16,722	$ 14,889

Definite- and Indefinite-Live_3

Definite- and Indefinite-Lived Intangible Assets (Schedule of Definite and Indefinite Lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	$ 58,259	$ 58,912
Less accumulated amortization	(14,902)	(11,540)
Total net	43,357	47,372
Total Intangible Assets	48,857	52,872
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Indefinite	$ 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	$ 23,938	25,574
Less accumulated amortization	(4,217)
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	32,260	31,356
Less accumulated amortization	(9,926)
Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	2,061	$ 1,982
Less accumulated amortization	$ (759)
Minimum
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	3 years
Minimum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	10 years
Minimum | Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	3 years
Maximum
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	25 years
Maximum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	14 years
Maximum | Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	12 years

Definite- and Indefinite-Live_4

Definite- and Indefinite-Lived Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Accumulated amortization	$ 14,902	$ 11,540
2,019	3,500
2,020	3,500
2,021	3,500
2,022	3,500
2,023	3,500
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Carrying values of indefinite lived trade names	5,500	$ 5,500
Trade Names | Gradall
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Carrying values of indefinite lived trade names	3,600
Trade Names | Bush Hog
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Carrying values of indefinite lived trade names	1,900
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	19,721
Accumulated amortization	4,217
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	22,334
Accumulated amortization	9,926
Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	1,302
Accumulated amortization	$ 759

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Salaries, wages and bonuses	$ 22,598	$ 25,100
Taxes	6,621	3,463
Warranty	4,992	5,335
Retirement Provision	2,646	2,792
Customer Deposits	2,520	200
Other	4,408	3,564
Accrued liabilities	$ 43,785	$ 40,454

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 85,298	$ 60,082
Less current maturities	119	82
Total long-term debt	85,179	60,000
Capital lease obligations
Debt Instrument [Line Items]
Total debt	298	0
Other notes payable
Debt Instrument [Line Items]
Total debt	0	82
Bank revolving credit facility | Amended and Restated Revolving Credit Agreement | Unsecured Debt
Debt Instrument [Line Items]
Total debt	$ 85,000	$ 60,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amount outstanding under revolving credit facility	$ 85,298,000	$ 60,082,000
2,019	119,000
2,020	94,000
2,021	85,064,000
2,022	21,000
Thereafter	0
Amended and Restated Revolving Credit Agreement | Bank revolving credit facility | Unsecured Debt
Debt Instrument [Line Items]
Aggregate commitments	250,000,000
Maximum amount of aggregate commitments	50,000,000
Amount outstanding under revolving credit facility	85,000,000	$ 60,000,000
Available borrowings	163,612,000
Amended and Restated Revolving Credit Agreement | Standby Letters of Credit | Unsecured Debt
Debt Instrument [Line Items]
Amount of capacity	$ 1,388,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Impact of tax reform	$ (3,331)	$ 10,236	$ 0
Decrease in transition tax liability on deemed repatriation	4,200
Rate change of deferreds	1,200	(3,334)	$ 0
Decrease in valuation allowance	4,800
Additional unrecognized tax benefit that would affect our annual effective tax rate	236	$ 234
Withholding taxes	3,326
Foreign tax credit
Operating Loss Carryforwards [Line Items]
Decrease in valuation allowance	4,100
Foreign
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards with unlimited carryforward period	9,499
Net operating loss carryforwards expiring in 2035	5,100
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 4,602

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income (Loss) before Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Domestic	$ 66,858	$ 61,329	$ 44,446
Foreign	27,673	21,038	17,743
Income before income taxes	$ 94,531	$ 82,367	$ 62,189

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Domestic	$ 6,771	$ 26,713	$ 11,958
Foreign	7,391	6,222	5,491
State	4,831	3,789	2,075
Provision for current income tax expense (benefit)	18,993	36,724	19,524
Deferred:
Domestic	2,542	1,711	1,580
Foreign	(390)	(155)	934
State	(100)	(228)	106
Provision for deferred income tax expense (benefit)	2,052	1,328	2,620
Total income taxes	$ 21,045	$ 38,052	$ 22,144

Income Taxes (Income Tax Reconc

Income Taxes (Income Tax Reconciliation) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Domestic statutory rate at 35%	$ 19,851,000	$ 28,828,000	$ 21,766,000
Increase (reduction) from:
Jurisdictional rate differences	719,000	(1,863,000)	(1,936,000)
Valuation allowance	(267,000)	308,000	1,731,000
Stock based compensation	(205,000)	(778,000)	275,000
U.S. state taxes	3,917,000	2,463,000	1,295,000
Domestic production deduction	0	(1,039,000)	(618,000)
R&D credit	(531,000)	(500,000)	(329,000)
GILTI	673,000	0	0
Other, net	219,000	397,000	(40,000)
Provision for income taxes before tax reform	24,376,000	27,816,000	22,144,000
Tax Reform:
Rate change of deferreds	1,200,000	(3,334,000)	0
Transition tax on deemed repatriation	(4,531,000)	13,104,000	0
Other	0	466,000	0
Impact of tax reform	(3,331,000)	10,236,000	0
Total income taxes	$ 21,045,000	$ 38,052,000	$ 22,144,000
Effective tax rate	26.00%	34.00%
Effective tax rate	22.00%	46.00%	36.00%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax assets:
Inventory basis difference	$ 1,825	$ 571
Accounts receivable reserve	251	310
Rental equipment and Property, plant and equipment	56	4
Stock based compensation	672	549
Pension liability	3,204	2,859
Employee benefit accrual	1,911	2,193
Product liability and warranty reserves	1,294	1,211
Foreign net operating loss	4,164	4,266
State net operating loss	148	286
Foreign tax credit	0	4,106
Other	(156)	216
Total deferred income tax assets	13,369	16,571
Less: Valuation allowance	(3,696)	(8,519)
Net deferred income tax assets	9,673	8,052
Deferred income tax liabilities:
Rental equipment and Property, plant and equipment	(9,928)	(7,477)
Intangible assets	(8,944)	(7,064)
Expenses not currently deductible for tax purposes	(749)	(887)
Total deferred income tax liabilities	(19,621)	(15,428)
Net deferred income taxes	$ (9,948)	$ (7,376)

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of beginning of year	$ 234	$ 235
Additions for tax positions related to the current year	63	62
Additions for tax positions related to prior years	0	0
Reduction due to lapse of statute of limitations	(61)	(63)
Balance as of end of year	$ 236	$ 234

Common Stock (Details)

Common Stock (Details) - USD ($)	Jan. 29, 2019	Dec. 19, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Dividends declared (in dollars per share)		$ 0.12	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.10	$ 0.10	$ 0.10	$ 0.10
Dividends paid (in dollars per share)											$ 0.44	$ 0.40	$ 0.36
Stock repurchase program, authorized amount			$ 30,000,000								$ 30,000,000
Subsequent Event
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.12

Stock Options (Narrative) (Deta

Stock Options (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 07, 2015	May 07, 2009
Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted (in dollars per share)	$ 38.77	$ 36	$ 27.48
Allocated Share-based Compensation Expense	$ 482,000	$ 597,000	$ 787,000
Total unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 816,000
Granted (in shares)	9,500	10,750	21,000
Period cost is expected to be recognized (years)	5 years
Exercise of stock options (in shares)	41,205	54,945	43,775
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 22,000	$ 22,000	$ 27,000
Total unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 8,000
Granted (in shares)	0	0	0
Period cost is expected to be recognized (years)	5 years
Exercise of stock options (in shares)	26,800	45,400	14,900
Proceeds from stock options exercised	$ 1,115,000	$ 1,032,000	$ 205,000
Tax deductions from option exercises	0	0	657,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	1,946,000	$ 1,250,000	$ 600,000
Total unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 4,825,000
Period cost is expected to be recognized (years)	4 years
Weighted average remaining contractual life (years)	2 years 6 months 10 days	2 years 8 months 8 days	2 years 10 months 20 days
Restricted Stock Units (RSUs) | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	25.00%
Award vesting period (years)	1 year
Restricted Stock Units (RSUs) | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	25.00%
Restricted Stock Units (RSUs) | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	25.00%
Restricted Stock Units (RSUs) | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	25.00%
2015 ISO Plan | Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for options to be issued (in shares)				400,000
2015 ISO Plan | Qualified Stock Options | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)	1 year
2015 ISO Plan | Qualified Stock Options | Year One after Grant Date | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2015 ISO Plan | Qualified Stock Options | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2015 ISO Plan | Qualified Stock Options | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2015 ISO Plan | Qualified Stock Options | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2015 ISO Plan | Qualified Stock Options | Year Five after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for options to be issued (in shares)					400,000
2009 Equity Incentive Plan | Non Qualified Options | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)	1 year
2009 Equity Incentive Plan | Non Qualified Options | Year One after Grant Date | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Five after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%

Stock Options (Schedule of Qual

Stock Options (Schedule of Qualified Stock Option Activity) (Details) - Qualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Shares
Options outstanding at beginning of year (in shares)	172,875	220,820	254,195
Granted (in shares)	9,500	10,750	21,000
Exercised (in shares)	(41,205)	(54,945)	(43,775)
Canceled (in shares)	(1,000)	(3,750)	(10,600)
Options outstanding at end of year (in shares)	140,170	172,875	220,820
Exercise Price
Outstanding at beginning of year, exercise price (in dollars per share)	$ 43.91	$ 37.39	$ 34.64
Granted, exercise price (in dollars per share)	92.50	83.99	54.87
Exercised, exercise price (in dollars per share)	34.89	24.83	26.59
Canceled, exercise price (in dollars per share)	54.49	54.57	50.68
Outstanding at end of year, exercise price (in dollars per share)	$ 49.78	$ 43.91	$ 37.39
Options exercisable at end of year (in shares)	96,320	111,875	136,220
Exercisable at end of year, exercise price (in dollars per share)	$ 41.56	$ 36.44	$ 29.66
Options available for grant at end of year (in shares)	336,450	344,950	353,450

Stock Options (Schedule of Qu_2

Stock Options (Schedule of Qualified Stock Options Outstanding and Exercisable) (Details) - Qualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding (in shares)	140,170	172,875	220,820	254,195
Options Exercisable (in shares)	96,320	111,875	136,220
$11.45 - $22.55
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	$ 11.45
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 22.55
Options Outstanding, Exercise price range (in shares)	6,000
Options Outstanding, Remaining Contractual Life	6 months 10 days
Options, Outstanding, Exercise Price (in dollars per share)	$ 13.66
Options Exercisable, Exercise price range (in shares)	6,000
Options Exercisable, Exercise Price (in dollars per share)	$ 13.66
$24.69 - $42.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	24.69
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 42.70
Options Outstanding, Exercise price range (in shares)	54,520
Options Outstanding, Remaining Contractual Life	3 years 6 months 29 days
Options, Outstanding, Exercise Price (in dollars per share)	$ 35.83
Options Exercisable, Exercise price range (in shares)	54,520
Options Exercisable, Exercise Price (in dollars per share)	$ 35.83
$49.44 - $83.99
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	49.44
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 83.99
Options Outstanding, Exercise price range (in shares)	70,150
Options Outstanding, Remaining Contractual Life	6 years 6 months 21 days
Options, Outstanding, Exercise Price (in dollars per share)	$ 57.92
Options Exercisable, Exercise price range (in shares)	35,800
Options Exercisable, Exercise Price (in dollars per share)	$ 54.96
$92.50 - $92.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	92.50
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 92.50
Options Outstanding, Exercise price range (in shares)	9,500
Options Outstanding, Remaining Contractual Life	9 years 4 months 9 days
Options, Outstanding, Exercise Price (in dollars per share)	$ 92.50
Options Exercisable, Exercise price range (in shares)	0
Options Exercisable, Exercise Price (in dollars per share)	$ 0

Stock Options (Equity Incentive

Stock Options (Equity Incentive Plan) (Details) - shares	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available for grant at end of year (in shares)	146,075	176,294	207,608

Stock Options (Schedule of Non-

Stock Options (Schedule of Non-Qualified Stock Options Activity) (Details) - Non Qualified Options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Shares
Options outstanding at beginning of year (in shares)	67,000	112,400	127,300
Granted (in shares)	0	0	0
Exercised (in shares)	(26,800)	(45,400)	(14,900)
Canceled (in shares)	0	0	0
Options outstanding at end of year (in shares)	40,200	67,000	112,400
Exercise Price
Outstanding at beginning of year, exercise price (in dollars per share)	$ 42.43	$ 34.48	$ 32.05
Granted, exercise price (in dollars per share)	0	0	0
Exercised, exercise price (in dollars per share)	41.61	22.73	13.73
Canceled, exercise price (in dollars per share)	0	0	0
Outstanding at end of year, exercise price (in dollars per share)	$ 42.43	$ 34.48	$ 32.05	$ 42.99	$ 42.43	$ 34.48
Options exercisable at end of year (in shares)				34,400	50,400	85,000
Exercisable at end of year, exercise price (in dollars per share)				$ 41.21	$ 39.86	$ 29.61
Options available for grant at end of year (in shares)				146,075	176,294	207,608

Stock Options (Schedule of No_2

Stock Options (Schedule of Non-Qualified Stock Options Outstanding and Exercisable) (Details) - Non Qualified Options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding (in shares)	40,200	67,000	112,400	127,300
Options Exercisable (in shares)	34,400	50,400	85,000
$11.45 - $22.55
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	$ 11.45
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 22.55
Options Outstanding, Exercise price range (in shares)	8,000
Options Outstanding, Remaining Contractual Life	4 months 9 days
Options Outstanding, Exercise Price (in dollars per share)	$ 11.45
Options Exercisable, Exercise price range (in shares)	8,000
Options Exercisable, Exercise Price (in dollars per share)	$ 11.45
$24.69 - $42.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	24.69
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 42.70
Options Outstanding, Exercise price range (in shares)	3,200
Options Outstanding, Remaining Contractual Life	2 years 4 months 9 days
Options Outstanding, Exercise Price (in dollars per share)	$ 26.45
Options Exercisable, Exercise price range (in shares)	3,200
Options Exercisable, Exercise Price (in dollars per share)	$ 26.45
$49.44 - $83.99
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range Limit (in dollars per share)	49.44
Range of Exercise Price, Upper Range Limit (in dollars per share)	$ 83.99
Options Outstanding, Exercise price range (in shares)	29,000
Options Outstanding, Remaining Contractual Life	5 years 4 months 13 days
Options Outstanding, Exercise Price (in dollars per share)	$ 53.51
Options Exercisable, Exercise price range (in shares)	23,200
Options Exercisable, Exercise Price (in dollars per share)	$ 53.51

Stock Options (Schedule of Rest

Stock Options (Schedule of Restricted Stock Award Activity) (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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 (in shares)	63,052	45,621	32,616
Granted (in shares)	35,300	33,620	27,440
Exercised (in shares)	(22,266)	(16,189)	(11,909)
Canceled (in shares)	(450)	0	(2,526)
Outstanding at end of year (in shares)	75,636	63,052	45,621
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value [Roll Forward]
Outstanding at beginning of year (in dollars per share)	$ 70.08	$ 54.58	$ 53.31
Granted (in dollars per share)	92.50	84.34	55.17
Exercised (in dollars per share)	66.91	56.03	52.67
Canceled (in dollars per share)	83.99	0	53.57
Outstanding at end of year (in dollars per share)	$ 81.39	$ 70.08	$ 54.58

Retirement Benefit Plans (Narra

Retirement Benefit Plans (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)subsidiaryplanemployee	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Feb. 03, 2006plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of non-contributory defined benefit pension plans | plan				2
Estimate of amount of unrecognized actuarial expense	$ 542
Number of defined contribution plans | plan	2
IAM Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount	$ 418	$ 408	$ 435
Pension Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Underfunded status	(1,944)	(1,225)
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimate of amount of unrecognized actuarial expense	$ 317
SERP credited service period	10 years
Percentage of final 3 year average salary in which retirement benefit is based (percentage)	20.00%
Number of final years in which the Retirement Benefit is based	3 years
Retirement age	65 years
Period of time that vested retirement benefit will be paid after death or change in control	90 days
Years of monthly installments associated with SERP disability	15 years
Supplemental Employee Retirement Plans, Defined Benefit | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current retirement benefit percentage	10.00%
Supplemental Employee Retirement Plans, Defined Benefit | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current retirement benefit percentage	20.00%
Employees’ Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Former employees | employee	252
Current employees | employee	67
Hourly Employees’ Pension Plan | Pension Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amount of final contribution			622
Amount expenses of accumulated pension actuarial losses			2,889
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount	$ 2,340	1,942	1,900
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount	$ 850	$ 716	$ 735
Number of international subsidiaries that participate in defined contribution and savings plan | subsidiary	3
Foreign Plan | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution percentage	0.00%
Foreign Plan | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution percentage	10.00%

Retirement Benefit Plans (Sched

Retirement Benefit Plans (Schedule of Changes in Plan Assets, Changes in Projected Benefit Obligation, Rate Assumptions, and Components of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in fair value of plan assets
Fair value of plan assets at beginning of year	$ 20,327
Fair value of plan assets at end of year	18,106	$ 20,327
Pension Plans, Defined Benefit
Change in projected benefit obligation
Benefit obligation at beginning of year	21,552	20,787
Service cost	4	4
Interest cost	757	831
Liability actuarial (gain) loss	(1,270)	866
Benefits paid	(993)	(936)
Benefit obligation at end of year	20,050	21,552
Change in fair value of plan assets
Fair value of plan assets at beginning of year	20,327	17,858
Return on plan assets	(1,228)	2,505
Employer contributions	0	900
Benefits paid	(993)	(936)
Fair value of plan assets at end of year	18,106	20,327
Funded status	(1,944)	(1,225)
Supplemental Employee Retirement Plans, Defined Benefit
Change in projected benefit obligation
Benefit obligation at beginning of year	5,945	5,387
Service cost	249	198
Interest cost	248	204
Liability actuarial (gain) loss	(328)	247
Benefits paid	(98)	(91)
Plan amendments	1,430	0
Benefit obligation at end of year	$ 7,446	$ 5,945

Retirement Benefit Plans (Sch_2

Retirement Benefit Plans (Schedule of Assumptions Used) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation, Discount rate (percentage)	4.20%	3.60%
Net periodic pension cost, Discount rate (percentage)	3.60%	4.10%
Net periodic pension expense, Long-term rate of return on plan assets (percentage)	7.25%	7.25%
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation, Discount rate (percentage)	4.10%	3.45%
Composite rate of compensation increase (percentage)	3.00%	3.00%
Net periodic pension cost, Discount rate (percentage)	3.45%	3.85%
Net periodic pension expense, rate of compensation increase (percentage)	3.00%	3.00%

Retirement Benefit Plans (Sch_3

Retirement Benefit Plans (Schedule of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 4
Interest cost	757	831
Expected return on plan assets	(1,454)	(1,275)
Amortization of net loss	346	433
Net periodic benefit cost	(347)	(7)
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	249	198
Interest cost	248	204
Amortization of prior service cost	501	406
Net periodic benefit cost	$ 998	$ 808

Retirement Benefit Plans (Weigh

Retirement Benefit Plans (Weighted Average Asset Allocations) (Details) - Pension Plans, Defined Benefit	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	100.00%	100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	55.00%	55.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	38.00%	38.00%
Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	2.00%	2.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	5.00%	5.00%

Retirement Benefit Plans (Sch_4

Retirement Benefit Plans (Schedule of Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 18,106	$ 20,327
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,203	7,007
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11,903	13,320
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,176	1,321
Mid Cap | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,176	1,321
Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,618	2,930
Large Cap | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,618	2,930
International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,051	2,300
International | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,051	2,300
Liability Driven Solution
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,532	2,845
Liability Driven Solution | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,532	2,845
Wells Fargo BlackRock International Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	765	859
Wells Fargo BlackRock International Equity | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	765	859
Wells Fargo Core Bond
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,266	1,416
Wells Fargo Core Bond | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,266	1,416
Wells Fargo/Causeway
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	766	861
Wells Fargo/Causeway | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	766	861
Wells Fargo BlackRock Large Cap Growth Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,026	1,146
Wells Fargo BlackRock Large Cap Growth Index Fund | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,026	1,146
Wells Fargo BlackRock Large Cap Value Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,025	1,146
Wells Fargo BlackRock Large Cap Value Index Fund | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,025	1,146
Wells Fargo Multi-Manager Small Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,246	1,387
Wells Fargo Multi-Manager Small Cap | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,246	1,387
Wells Fargo Russell 2000 Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	573	636
Wells Fargo Russell 2000 Index Fund | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	573	636
Wells Fargo S&P Mid Cap Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	641	715
Wells Fargo S&P Mid Cap Index Fund | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	641	715
Wells Fargo/MFS Value CIT F
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	578
Wells Fargo/MFS Value CIT F | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	578
Wells Fargo/T. Rowe Price I Large-Cap Growth Managed CIT
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	577
Wells Fargo/T. Rowe Price I Large-Cap Growth Managed CIT | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	577
Wells Fargo/T. Rowe Price Equity Income
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	515	577
Wells Fargo/T. Rowe Price Equity Income | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	515	577
Wells Fargo Voya Large Cap Growth CIT F
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	577
Wells Fargo Voya Large Cap Growth CIT F | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	516	577
Cash & Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	358	456
Cash & Short-term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 358	$ 456

Retirement Benefit Plans (Sch_5

Retirement Benefit Plans (Schedule of Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
2,019	$ 1,151
2,020	1,170
2,021	1,233
2,022	1,269
2,023	1,283
Years 2024 through 2028	6,417
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
2,019	375
2,020	397
2,021	405
2,022	499
2,023	504
Years 2024 through 2028	$ 3,255

Revenue and Segment Reporting_2

Revenue and Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 256,038	$ 257,572	$ 257,125	$ 238,087	$ 243,260	$ 240,455	$ 213,276	$ 215,389	$ 1,008,822	$ 912,380	$ 844,748
Income from Operations									101,088	88,738	67,620
Goodwill	83,243				84,761				83,243	84,761	74,825	$ 75,509
Total Identifiable Assets	721,633				639,671				721,633	639,671
Industrial
Segment Reporting Information [Line Items]
Net sales									598,930	522,706	484,088
Income from Operations									64,213	51,914	35,984
Goodwill	61,107				61,682				61,107	61,682	56,447	56,293
Total Identifiable Assets	421,539				369,271				421,539	369,271
Agricultural
Segment Reporting Information [Line Items]
Net sales									235,069	227,389	205,834
Income from Operations									22,649	24,059	20,720
Goodwill	6,230				6,357				6,230	6,357	3,489	2,984
Total Identifiable Assets	162,548				141,023				162,548	141,023
European
Segment Reporting Information [Line Items]
Net sales									174,823	162,285	154,826
Income from Operations									14,226	12,765	10,916
Goodwill	15,906				16,722				15,906	16,722	14,889	$ 16,232
Total Identifiable Assets	$ 137,546				$ 129,377				137,546	129,377
Wholegoods
Segment Reporting Information [Line Items]
Net sales									802,403	714,862	663,331
Parts
Segment Reporting Information [Line Items]
Net sales									186,979	182,412	167,411
Other
Segment Reporting Information [Line Items]
Net sales									$ 19,440	$ 15,106	$ 14,006

International Operations and _3

International Operations and Geographic Information (Schedule of Selected Financial Information for International Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 1,008,822	$ 912,380	$ 844,748
Income from operations	101,088	88,738	67,620
Identifiable assets	721,633	639,671
Non-US
Segment Reporting Information [Line Items]
Net sales	297,246	254,144	232,291
Income from operations	28,301	23,110	18,544
Income before income taxes	29,254	22,476	18,720
Identifiable assets	$ 244,888	$ 227,758	$ 167,990

International Operations and _4

International Operations and Geographic Information (Schedule of Geographic Net Sales and Location of Long-lived assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,008,822	$ 912,380	$ 844,748
Long-lived assets	268,041	246,097	224,190
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	726,582	663,600	615,028
Long-lived assets	191,958	171,048	166,707
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	51,043	44,416	45,184
Long-lived assets	19,270	18,948	16,254
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	90,956	86,443	79,070
Long-lived assets	18,650	19,324	16,772
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	62,077	52,332	48,357
Long-lived assets	21,647	24,302	19,435
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	9,055	12,778	13,580
Long-lived assets	815	917	1,401
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	16,829	9,321	2,665
Long-lived assets	15,701	11,558	3,621
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 52,280	$ 43,490	$ 40,864

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Future Commitments) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Operating Leases
2,019	$ 3,310
2,020	2,453
2,021	1,308
2,022	743
2,023	419
Thereafter	79
Total minimum lease payments	8,312
Capitalized Leases
2,019		$ 119
2,020		94
2,021		64
2,022		21
2,023		0
Thereafter		$ 0
Total minimum lease payments	$ 298

Commitments and Contingencies_3

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Rental expense for operating leases	$ 5,087	$ 4,788	$ 4,060

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 19, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Quarterly Financial Information Disclosure [Line Items]
Sales		$ 256,038	$ 257,572	$ 257,125	$ 238,087	$ 243,260	$ 240,455	$ 213,276	$ 215,389	$ 1,008,822	$ 912,380	$ 844,748
Gross profit		62,632	66,772	66,454	60,257	60,911	64,939	54,679	54,164	256,115	234,693	205,099
Net income		$ 16,589	$ 23,543	$ 18,771	$ 14,583	$ 3,240	$ 16,592	$ 12,316	$ 12,167	$ 73,486	$ 44,315	$ 40,045
Per common share - diluted
Diluted (in dollars per share)		$ 1.41	$ 2	$ 1.60	$ 1.24	$ 0.27	$ 1.42	$ 1.05	$ 1.05	$ 6.25	$ 3.79	$ 3.46
Average shares
Diluted (in shares)		11,768	11,777	11,759	11,739	11,727	11,708	11,671	11,620	11,761	11,682	11,565
Dividends per share (in dollars per share)	$ 0.12	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.10	$ 0.10	$ 0.10	$ 0.10
Market price of common stock
Estimated foreign earnings and profits tax expense						$ 10,100
High
Market price of common stock
Share Price (in dollars per share)		93.45	102.29	118.93	120.22	$ 119.50	107.69	92.67	79.50	$ 93.45	$ 119.50
Low
Market price of common stock
Share Price (in dollars per share)		$ 72.85	$ 88.13	$ 88.60	$ 103.38	$ 104.87	$ 86.80	$ 71.72	$ 71.20	$ 72.85	$ 104.87

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 21, 2019
Dutch Power | Subsequent Event
Subsequent Event [Line Items]
Percentage of outstanding capital shares acquired	100.00%