Badger Meter (BMI) 10-Q 28 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 14, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	BADGER METER INC
Entity Central Index Key	9092
Document Type	10-Q
Document Period End Date	30-Sep-13
Amendment Flag	FALSE
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		14,377,376

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:
Cash	$4,621	$6,554
Receivables	56,059	45,584
Inventories:
Finished goods	17,544	19,872
Work in process	10,094	13,340
Raw materials	26,730	27,785
Total inventories	54,368	60,997
Prepaid expenses and other current assets	3,678	4,343
Deferred income taxes	3,925	3,896
Total current assets	122,651	121,374
Property, plant and equipment, at cost	159,298	152,760
Less accumulated depreciation	-85,894	-82,276
Net property, plant and equipment	73,404	70,484
Intangible assets, at cost less accumulated amortization	60,163	58,351
Other assets	6,033	4,314
Goodwill	46,641	35,930
Total assets	308,892	290,453
Current liabilities:
Short-term debt	65,185	66,730
Payables	19,435	15,551
Accrued compensation and employee benefits	7,792	9,821
Warranty and after-sale costs	684	881
Income and other taxes	2,058	1,097
Total current liabilities	95,154	94,080
Other long-term liabilities	2,695	1,086
Deferred income taxes	10,824	8,692
Accrued non-pension postretirement benefits	6,626	6,489
Other accrued employee benefits	7,790	8,859
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common stock	20,480	20,441
Capital in excess of par value	43,988	41,755
Reinvested earnings	166,514	155,694
Accumulated other comprehensive loss	-12,738	-13,948
Less: Employee benefit stock	-1,136	-1,234
Treasury stock, at cost	-31,305	-31,461
Total shareholders’ equity	185,803	171,247
Total liabilities and shareholders’ equity	$308,892	$290,453

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]
Net sales	$92,963	$87,130	$253,112	$245,337
Cost of sales	59,860	52,800	165,126	151,942
Gross margin	33,103	34,330	87,986	93,395
Selling, engineering and administration	19,230	20,219	59,228	57,741
Operating earnings	13,873	14,111	28,758	35,654
Interest expense (income), net	264	286	844	729
Earnings before income taxes	13,609	13,825	27,914	34,925
Provision for income taxes	4,560	4,968	9,677	12,377
Net earnings	$9,049	$8,857	$18,237	$22,548
Earnings per share:
Basic	$0.63	$0.63	$1.27	$1.57
Diluted	$0.63	$0.62	$1.26	$1.56
Dividends declared – Common stock	$0.18	$0.17	$0.52	$0.49
Shares used in computation of earnings per share:
Basic	14,371,718	14,128,055	14,353,700	14,393,644
Impact of dilutive securities	75,017	57,851	79,543	65,140
Diluted	14,446,735	14,185,906	14,433,243	14,458,784

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Other Comprehensive Income [Abstract]
Net earnings	$9,049	$8,857	$18,237	$22,548
Other comprehensive income:
Foreign currency translation adjustment	610	272	242	48
Employee benefit funded status adjustment, net of tax	166	143	968	422
Comprehensive income	$9,825	$9,272	$19,447	$23,018

Consolidated_Condensed_Stateme2

Consolidated Condensed Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operating activities:
Net earnings	$18,237	$22,548
Adjustments to reconcile net earnings to net cash provided by (used for) operations:
Depreciation	6,457	5,772
Amortization	3,805	3,331
Deferred income taxes	-45	73
Noncurrent employee benefits	585	595
Contribution to pension plan	0	-1,097
Stock-based compensation expense	708	921
Changes in:
Receivables	-10,284	-7,414
Inventories	6,736	-4,042
Prepaid expenses and other current assets	182	473
Liabilities other than debt	2,364	2,859
Total adjustments	10,508	1,471
Net cash provided by operations	28,745	24,019
Investing activities:
Property, plant and equipment expenditures	-9,316	-4,524
Acquisitions, net of cash acquired and future payments	-14,464	-51,517
Net cash used for investing activities	-23,780	-56,041
Financing activities:
Net (decrease) increase in short-term debt	-1,648	69,654
Dividends paid	-7,426	-7,107
Proceeds from exercise of stock options	1,270	291
Tax benefit on stock options	363	223
Repurchase of Common stock	0	-30,000
Issuance of treasury stock	450	430
Net cash (used for) provided by financing activities	-6,991	33,491
Effect of foreign exchange rates on cash	93	-388
(Decrease) increase in cash	-1,933	1,081
Cash - beginning of period	6,554	4,975
Cash - end of period	$4,621	$6,056

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	In the opinion of management, the accompanying unaudited consolidated condensed financial statements of Badger Meter, Inc. (the “Company”) contain all adjustments (consisting only of normal recurring accruals except as otherwise discussed) necessary to present fairly the Company’s consolidated condensed financial position at September 30, 2013, results of operations for the three- and nine-month periods ended September 30, 2013 and 2012, comprehensive income for the three- and nine-month periods ended September 30, 2013 and 2012, and cash flows for the nine-month periods ended September 30, 2013 and 2012. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.
	The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Additional_Financial_Informati

Additional Financial Information Disclosures	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information Disclosures	Additional Financial Information Disclosures
	The consolidated condensed balance sheet at December 31, 2012 was derived from amounts included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Refer to the footnotes to the financial statements included in that report for a description of the Company’s accounting policies and for additional details of the Company’s financial condition. The details in those notes have not changed except as discussed below and as a result of normal adjustments in the interim.
	Warranty and After-Sale Costs
	The Company estimates and records provisions for warranties and other after-sale costs in the period in which the sale is recorded, based on a lag factor and historical warranty claim experience. After-sale costs represent a variety of activities outside of the written warranty policy, such as investigation of unanticipated problems after the customer has installed the product, or analysis of water quality issues. Changes in the Company's warranty and after-sale costs reserve are as follows:
		Three months ended						Nine months ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Balance at beginning of period	$	695		$	1,152		$	881		$	1,593
	Net additions charged to earnings	264			86			606			431
	Costs incurred	(275		)	(325		)	(803		)	(1,111		)
	Balance at end of period	$	684		$	913		$	684		$	913

Employee_Benefit_Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans
	The Company maintains a non-contributory defined benefit pension plan (sometimes referred to as the “qualified pension plan”) for certain employees. On December 31, 2010, the Company froze the qualified pension plan for its non-union participants and formed a new defined contribution feature within the Badger Meter Employee Savings and Stock Ownership Plan (“ESSOP”) in which each employee received a similar benefit. On December 31, 2011, the Company froze the qualified pension plan for its union participants and included them in the defined contribution feature within the ESSOP. After December 31, 2011, employees received no future benefits under the qualified pension plan as benefits have been frozen and the employees now receive a defined contribution in its place. Employees will continue to earn returns on their frozen balances under the qualified pension plan. The Company also maintains a non-contributory postretirement plan that provides medical benefits for certain of its retirees and eligible dependents in the United States.
	The following table sets forth the components of net periodic benefit cost for the three months ended September 30, 2013 and 2012 based on December 31, 2012 and 2011 actuarial measurement dates, respectively:
		Defined						Other
		pension plan						postretirement
		benefits						benefits
	(In thousands)	2013			2012			2013		2012
	Service cost – benefits earned during the year	$	7		$	12		$	32	$	36
	Interest cost on projected benefit obligations	491			564			60		74
	Expected return on plan assets	(678		)	(797		)	—		—
	Amortization of prior service cost	—			—			34		40
	Amortization of net loss	180			184			—		—
	Settlement expense	46			—			—		—
	Net periodic benefit cost (income)	$	46		$	(37	)	$	126	$	150
	The following table sets forth the components of net periodic benefit cost for the nine months ended September 30, 2013 and 2012 based on December 31, 2012 and 2011 actuarial measurement dates, respectively:
		Defined						Other
		pension plan						postretirement
		benefits						benefits
	(In thousands)	2013			2012			2013		2012
	Service cost – benefits earned during the year	$	22		$	36		$	116	$	107
	Interest cost on projected benefit obligations	1,383			1,691			192		221
	Expected return on plan assets	(2,057		)	(2,392		)	—		—
	Amortization of prior service cost	—			—			120		121
	Amortization of net loss	613			553			—		—
	Settlement expense	793			—			—		—
	Net periodic benefit cost (income)	$	754		$	(112	)	$	428	$	449
	The Company disclosed in its financial statements for the year ended December 31, 2012 that it was not required to make a minimum contribution for the 2013 calendar year. The Company continues to believe no additional contributions will be required during 2013.
	The Company also disclosed in its financial statements for the year ended December 31, 2012 that it estimated it would pay $0.5 million in other postretirement benefits in 2013 based on actuarial estimates. As of September 30, 2013, $0.2 million of such benefits have been paid. The Company continues to believe that its estimated payments for the full year are reasonable. However, such estimates contain inherent uncertainties because cash payments can vary significantly depending on the timing of postretirement medical claims and the collection of the retirees’ portion of certain costs. Note that the amount of benefits paid in calendar year 2013 will not impact the expense for postretirement benefits for 2013.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]
Accumulated Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)
	Components of and changes in accumulated other comprehensive loss at September 30, 2013 are as follows:
	(In thousands)	Unrecognized pension and postretirement benefits			Foreign currency		Total
	Balance at beginning of period	$	(15,532	)	$	1,584	$	(13,948	)
	Other comprehensive income before reclassification	—			242		242
	Amounts reclassified from accumulated other comprehensive loss, net of tax	968			—		968
	Net current period other comprehensive income, net of tax	968			242		1,210
	Accumulated other comprehensive (loss) income	$	(14,564	)	$	1,826	$	(12,738	)
	Details of reclassifications out of accumulated other comprehensive loss during the nine months ended September 30, 2013 are as follows:
	(In thousands)	Amount reclassified from accumulated other comprehensive loss
	Amortization of defined benefit pension items:
	Prior service cost (1)	$	120
	Settlement expense (1)	793
	Actuarial loss (1)	613
	Total before tax	1,526
	Income tax benefit	(558		)
	Amount reclassified out of accumulated other comprehensive loss	$	968
	-1	These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (income) in Note 3 Employee Benefit Plans.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]
Acquisitions	Acquisitions
	On April 1, 2013, the Company acquired 100% of the outstanding common stock of Aquacue, Inc. (“Aquacue”) of Los Gatos, California. The Aquacue acquisition provides the Company with intellectual property that complements and expands the Company's advanced metering analytics offerings by adding an integrated software platform that allows utility managers to monitor and control their water systems, while providing water management data to consumers. Sales of Aquacue products were immaterial during the six months ended September 30, 2013. The purchase price was approximately $14.0 million in cash, plus a small working capital adjustment. The purchase price includes a final $3.0 million payment, of which half is due January 1, 2014 and is recorded in payables on the Consolidated Condensed Balance Sheets at September 30, 2013, and half is due October 1, 2014 and is recorded in other long-term liabilities. The Company's preliminary allocation of the purchase price as of September 30, 2013 includes $0.1 million of current assets, $5.6 million of intangibles, $10.7 million of goodwill, $0.3 million of current liabilities, and $2.1 million of long-term deferred tax liabilities. The Company has not completed its analysis for estimating the fair value. There is approximately $0.1 million of transaction costs related to the acquisition that are included in selling, engineering and administration for the nine months ended September 30, 2013 in the Company's Unaudited Consolidated Condensed Statements of Operations.
	The acquisition was accounted for under the purchase method, and accordingly, the results of operations are included in the Company's financial statements from the date of acquisition. The acquisition did not have a material impact on the Company's consolidated financial statements or the notes thereto.
	On January 31, 2012, the Company completed its acquisition of 100% of the outstanding common stock of Racine Federated, Inc. (“Racine Federated”) of Racine, Wisconsin and its subsidiary Premier Control Technologies, Ltd. located in Thetford, England for approximately $57.3 million in cash, plus a working capital adjustment of $0.3 million. The purchase price included a final $4.6 million payment which was paid on July 31, 2013. Racine Federated manufactures and markets flow meters for the water industry as well as various industrial metering and specialty products. These products complement and expand the Company’s existing lines for the global flow measurement business. This acquisition is further described in Note 3 “Acquisitions” in the Notes to Consolidated Financial Statements in Part II, Item 8 of the Company's 2012 Annual Report on Form 10-K.
	The acquisition was accounted for under the purchase method, and accordingly, the results of operations were included in the Company's financial statements from the date of acquisition. The following unaudited pro forma information combines historical results as if Racine Federated had been owned by the Company since January 1, 2012:
		Nine months ended
		September 30,
	(In thousands except per share amount)	2012
	Net sales	$	249,193
	Net earnings	$	22,714
	Diluted earnings per share	$	1.57

Contingencies_Litigation_and_C

Contingencies, Litigation and Commitments	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Litigation and Commitments	Contingencies, Litigation and Commitments
	In the normal course of business, the Company is named in legal proceedings. There are currently no material legal proceedings pending with respect to the Company. The more significant legal proceedings are discussed below.
	The Company is subject to contingencies related to environmental laws and regulations. The Company is named as one of many potentially responsible parties in two landfill lawsuits. The landfill sites are impacted by the Federal Comprehensive Environmental Response, Compensation and Liability Act and other environmental laws and regulations. At this time, the Company does not believe the ultimate resolution of these matters will have a material adverse effect on the Company's financial position or results of operations, either from a cash flow perspective or on the financial statements as a whole. This belief is based on the Company's assessment of its limited past involvement with these landfill sites as well as the substantial involvement of and government focus on other named third parties with these landfill sites. However, due to the inherent uncertainties of such proceedings, the Company cannot predict the ultimate outcome of any of these matters. A future change in circumstances with respect to these specific matters or with respect to sites formerly or currently owned or operated by the Company, off-site disposal locations used by the Company, and property owned by third parties that is near such sites, could result in future costs to the Company and such amounts could be material. Expenditures for compliance with environmental control provisions and regulations during 2012 and the first three quarters of 2013 were not material.
	Like other companies in recent years, the Company is named as a defendant in numerous pending multi-claimant/multi-defendant lawsuits alleging personal injury as a result of exposure to asbestos, manufactured by third parties, and integrated into or sold with a very limited number of the Company's products. The Company is vigorously defending itself against these claims. Although it is not possible to predict the ultimate outcome of these matters, the Company does not believe the ultimate resolution of these issues will have a material adverse effect on the Company's financial position or results of operations, either from a cash flow perspective or on the financial statements as a whole. This belief is based in part on the fact that no claimant has proven or substantially demonstrated asbestos exposure caused by products manufactured or sold by the Company and that a number of cases have been voluntarily dismissed.
	The Company relies on single suppliers for most brass castings and certain electronic subassemblies in several of its product lines. The Company believes these items would be available from other sources, but that the loss of certain suppliers would result in a higher cost of materials, delivery delays, short-term increases in inventory and higher quality control costs in the short term. The Company attempts to mitigate these risks by working closely with key suppliers, purchasing minimal amounts from alternative suppliers and by purchasing business interruption insurance where appropriate.
	The Company reevaluates its exposures on a periodic basis and makes adjustments to reserves as appropriate.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The provision for income taxes as a percentage of earnings before income taxes for the third quarter of 2013 was 33.5% compared to 35.9% in the third quarter of 2012. The provision for income taxes as a percentage of earnings before income taxes for the first three quarters of 2013 was 34.7% compared to 35.4% in the first three quarters of 2012. The decrease for the quarter ended September 30, 2013 was due primarily to the recognition of additional 2012 research and development credits identified in the third quarter of 2013, as well as the reversal of reserves for uncertain tax positions for tax years that expired. The decrease for the first nine months of 2013 was mainly due to recognition of 2012 research and development credits as a result of tax legislation enacted early in 2013 and the reversal of prior period reserves.

Fair_Value_Measurements_of_Fin

Fair Value Measurements of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	Fair Value Measurements of Financial Instruments
	The Company applies the accounting standards for fair value measurements and disclosures for its financial assets and financial liabilities. The carrying amounts of cash, receivables and payables in the financial statements approximate their fair values due to the short-term nature of these financial instruments. Short-term debt is comprised of notes payable drawn against the Company's lines of credit and commercial paper. Because of its short-term nature, the carrying amount of the short-term debt also approximates fair value. Included in other assets are insurance policies on various individuals who were associated with the Company. The carrying amounts of these insurance policies approximate their fair value.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	The Company evaluates subsequent events at the date of the balance sheet as well as conditions that arise after the balance sheet date but before the financial statements are issued. The effects of conditions that existed at the balance sheet date are recognized in the financial statements. Events and conditions arising after the balance sheet date but before the financial statements are issued are evaluated to determine if disclosure is required to keep the financial statements from being misleading. To the extent such events and conditions exist, if any, disclosures are made regarding the nature of events and the estimated financial effects for those events and conditions. For purposes of preparing the accompanying consolidated condensed financial statements and the notes to these financial statements, the Company evaluated subsequent events through the date the accompanying financial statements were issued.

Additional_Financial_Informati1

Additional Financial Information Disclosures (Tables)	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Changes in warranty and after-sale costs reserve	Changes in the Company's warranty and after-sale costs reserve are as follows:
		Three months ended						Nine months ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Balance at beginning of period	$	695		$	1,152		$	881		$	1,593
	Net additions charged to earnings	264			86			606			431
	Costs incurred	(275		)	(325		)	(803		)	(1,111		)
	Balance at end of period	$	684		$	913		$	684		$	913

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost	The following table sets forth the components of net periodic benefit cost for the three months ended September 30, 2013 and 2012 based on December 31, 2012 and 2011 actuarial measurement dates, respectively:
		Defined						Other
		pension plan						postretirement
		benefits						benefits
	(In thousands)	2013			2012			2013		2012
	Service cost – benefits earned during the year	$	7		$	12		$	32	$	36
	Interest cost on projected benefit obligations	491			564			60		74
	Expected return on plan assets	(678		)	(797		)	—		—
	Amortization of prior service cost	—			—			34		40
	Amortization of net loss	180			184			—		—
	Settlement expense	46			—			—		—
	Net periodic benefit cost (income)	$	46		$	(37	)	$	126	$	150
	The following table sets forth the components of net periodic benefit cost for the nine months ended September 30, 2013 and 2012 based on December 31, 2012 and 2011 actuarial measurement dates, respectively:
		Defined						Other
		pension plan						postretirement
		benefits						benefits
	(In thousands)	2013			2012			2013		2012
	Service cost – benefits earned during the year	$	22		$	36		$	116	$	107
	Interest cost on projected benefit obligations	1,383			1,691			192		221
	Expected return on plan assets	(2,057		)	(2,392		)	—		—
	Amortization of prior service cost	—			—			120		121
	Amortization of net loss	613			553			—		—
	Settlement expense	793			—			—		—
	Net periodic benefit cost (income)	$	754		$	(112	)	$	428	$	449

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]
Components of accumulated other comprehensive loss	Details of reclassifications out of accumulated other comprehensive loss during the nine months ended September 30, 2013 are as follows:
	(In thousands)	Amount reclassified from accumulated other comprehensive loss
	Amortization of defined benefit pension items:
	Prior service cost (1)	$	120
	Settlement expense (1)	793
	Actuarial loss (1)	613
	Total before tax	1,526
	Income tax benefit	(558		)
	Amount reclassified out of accumulated other comprehensive loss	$	968
	-1	These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (income) in Note 3 Employee Benefit Plans.
	Components of and changes in accumulated other comprehensive loss at September 30, 2013 are as follows:
	(In thousands)	Unrecognized pension and postretirement benefits			Foreign currency		Total
	Balance at beginning of period	$	(15,532	)	$	1,584	$	(13,948	)
	Other comprehensive income before reclassification	—			242		242
	Amounts reclassified from accumulated other comprehensive loss, net of tax	968			—		968
	Net current period other comprehensive income, net of tax	968			242		1,210
	Accumulated other comprehensive (loss) income	$	(14,564	)	$	1,826	$	(12,738	)

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]
Summary of unaudited pro forma information	The following unaudited pro forma information combines historical results as if Racine Federated had been owned by the Company since January 1, 2012:
		Nine months ended
		September 30,
	(In thousands except per share amount)	2012
	Net sales	$	249,193
	Net earnings	$	22,714
	Diluted earnings per share	$	1.57

Additional_Financial_Informati2

Additional Financial Information Disclosures (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Changes in warranty and after-sale costs reserve
Balance at beginning of period	$695	$1,152	$881	$1,593
Net additions charged to earnings	264	86	606	431
Costs incurred	-275	-325	803	-1,111
Balance at end of period	$684	$913	$684	$913

Employee_Benefit_Plans_Details

Employee Benefit Plans (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined pension plan benefits [Member]
Components of net periodic benefit cost
Service cost – benefits earned during the year	$7	$12	$22	$36
Interest cost on projected benefit obligations	491	564	1,383	1,691
Expected return on plan assets	-678	-797	-2,057	-2,392
Amortization of prior service cost	0	0	0	0
Amortization of net loss	180	184	613	553
Settlement expense	46	0	793	0
Net periodic benefit cost (income)	46	-37	754	-112
Other postretirement benefits [Member]
Components of net periodic benefit cost
Service cost – benefits earned during the year	32	36	116	107
Interest cost on projected benefit obligations	60	74	192	221
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	34	40	120	121
Amortization of net loss	0	0	0	0
Settlement expense	0	0	0	0
Net periodic benefit cost (income)	$126	$150	$428	$449

Employee_Benefit_Plans_Details1

Employee Benefit Plans (Details Textual) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to Employee Benefit Plans		$0.50
Defined Benefit Plan Contributions Paid	$0.20

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	($13,948)
Other comprehensive income before reclassification
Unrecognized pension and postretirement benefits	-1,526
Total	242
Amounts reclassified from accumulated other comprehensive loss, net of tax
Unrecognized pension and postretirement benefits	-968
Total	968
Net current period other comprehensive income, net of tax	1,210
Accumulated other comprehensive (loss) income	-12,738
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	-15,532
Other comprehensive income before reclassification
Unrecognized pension and postretirement benefits	0
Amounts reclassified from accumulated other comprehensive loss, net of tax
Unrecognized pension and postretirement benefits	968
Net current period other comprehensive income, net of tax	968
Accumulated other comprehensive (loss) income	-14,564
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	1,584
Other comprehensive income before reclassification
Foreign currency	242
Amounts reclassified from accumulated other comprehensive loss, net of tax
Foreign currency	0
Net current period other comprehensive income, net of tax	242
Accumulated other comprehensive (loss) income	$1,826

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income (Reclassifications out of Accumulated Comprehensive Loss) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Statement of Other Comprehensive Income [Abstract]
Prior service cost	$120	[1]
Settlement expense	793	[1]
Actuarial loss	613	[1]
Total before tax	1,526
Income tax benefit	-558
Amount reclassified out of accumulated other comprehensive loss	$968
[1]	These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (income) in Note 3 Employee Benefit Plans.

Acquisitions_Details_1

Acquisitions (Details 1) (USD $)	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2012
Summary of unaudited pro forma information
Net sales	$249,193
Net earnings	$22,714
Diluted earnings per share	$1.57

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Apr. 02, 2013	Jun. 30, 2013	Jan. 31, 2012
In Millions, unless otherwise specified	Aquacue [Member]	Aquacue [Member]	Aquacue [Member]	Racine Federated, Inc. [Member]	Racine Federated, Inc. [Member]
Business Acquisition (Textual) [Abstract]
Acquisition of outstanding common stock (as a percent)			100.00%		100.00%
Cash			$14		$57.30
Deferred Purchase Price			3
Current Assets		0.1
Intangible Assets Other than Goodwill		5.6
Goodwill Amount		10.7
Current Liabilities		0.3
Deferred Tax Liabilities, Noncurrent		2.1
Transaction Costs	0.1
Estimated adjustment in working capital					0.3
Other long-term liabilities				$4.60

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Tax Disclosure [Abstract]
Provision for income taxes as a percentage of earnings before income taxes	33.50%	35.90%	34.70%	35.40%