Badger Meter (BMI) 10-Q 26 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 11, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	BADGER METER INC
Entity Central Index Key	9,092
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		14,538,400

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 9,936	$ 8,163
Receivables	59,189	56,643
Inventories:
Finished goods	21,638	28,548
Work in process	14,816	13,184
Raw materials	39,724	36,864
Total inventories	76,178	78,596
Prepaid expenses and other current assets	5,455	5,926
Total current assets	150,758	149,328
Property, plant and equipment, at cost	196,257	194,069
Less accumulated depreciation	(104,724)	(103,149)
Net property, plant and equipment	91,533	90,920
Intangible assets, at cost less accumulated amortization	55,869	57,348
Other assets	8,870	8,485
Deferred income taxes	1,426	1,421
Goodwill	47,978	47,978
Total assets	356,434	355,480
Current liabilities:
Short-term debt	61,160	71,360
Payables	19,313	19,155
Accrued compensation and employee benefits	10,037	9,663
Warranty and after-sale costs	3,561	3,133
Income and other taxes	4,770	1,233
Total current liabilities	98,841	104,544
Other long-term liabilities	5,488	4,809
Deferred income taxes	909	774
Accrued non-pension postretirement benefits	5,818	5,709
Other accrued employee benefits	$ 6,797	$ 7,369
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common stock	$ 20,551	$ 20,551
Capital in excess of par value	52,595	52,178
Reinvested earnings	209,141	204,044
Accumulated other comprehensive loss	(12,107)	(12,780)
Less: Employee benefit stock	(728)	(768)
Treasury stock, at cost	(30,871)	(30,950)
Total shareholders’ equity	238,581	232,275
Total liabilities and shareholders’ equity	$ 356,434	$ 355,480

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 100,570	$ 83,644
Cost of sales	61,559	53,569
Gross margin	39,011	30,075
Selling, engineering and administration	26,205	23,022
Operating earnings	12,806	7,053
Interest expense, net	270	317
Earnings before income taxes	12,536	6,736
Provision for income taxes	4,546	2,509
Net earnings	$ 7,990	$ 4,227
Earnings per share:
Basic (in dollars per share)	$ 0.55	$ 0.29
Diluted (in dollars per share)	0.55	0.29
Dividends declared per common share (in dollars per share)	$ 0.20	$ 0.19
Shares used in computation of earnings per share:
Basic (in shares)	14,421,250	14,332,775
Impact of dilutive securities (in shares)	77,432	74,232
Diluted (in shares)	14,498,682	14,407,007

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings	$ 7,990	$ 4,227
Other comprehensive income (loss):
Foreign currency translation adjustment	577	(696)
Pension and postretirement benefits, net of tax	96	131
Comprehensive income	$ 8,663	$ 3,662

Consolidated Condensed Statemen

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net earnings	$ 7,990	$ 4,227
Adjustments to reconcile net earnings to net cash provided by (used for) operations:
Depreciation	2,793	2,202
Amortization	2,706	2,446
Deferred income taxes	109	(135)
Noncurrent employee benefits	203	148
Stock-based compensation expense	362	371
Changes in:
Receivables	(2,311)	110
Inventories	2,684	(692)
Prepaid expenses and other current assets	469	405
Liabilities other than debt	3,146	(2,302)
Total adjustments	10,161	2,553
Net cash provided by operations	18,151	6,780
Investing activities:
Property, plant and equipment expenditures	(3,247)	(3,197)
Net cash used for investing activities	(3,247)	(3,197)
Financing activities:
Net (decrease) increase in short-term debt	(10,360)	578
Dividends paid	(2,892)	(2,733)
Proceeds from exercise of stock options	62	127
Tax benefit on stock options	0	49
Issuance of treasury stock	72	60
Net cash used for financing activities	(13,118)	(1,919)
Effect of foreign exchange rates on cash	(13)	53
Increase in cash	1,773	1,717
Cash - beginning of period	8,163	6,656
Cash - end of period	$ 9,936	$ 8,373

Additional Financial Informatio

Additional Financial Information Disclosures	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information Disclosures	Additional Financial Information Disclosures The consolidated condensed balance sheet at December 31, 2015 was derived from amounts included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . 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 March 31, (In thousands) 2016 2015 Balance at beginning of period $ 3,133 $ 1,739 Net additions charged to earnings 1,093 335 Costs incurred and adjustments (665 ) (525 ) Balance at end of period $ 3,561 $ 1,549

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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” or “Badger Meter”) 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 March 31, 2016 , results of operations for the three-month periods ended March 31, 2016 and 2015 , comprehensive income for the three-month periods ended March 31, 2016 and 2015 , and cash flows for the three-month periods ended March 31, 2016 and 2015 . 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.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company maintains a non-contributory defined benefit pension plan that covers substantially all U.S. employees who were employed at December 31, 2011. After that date, no further benefits are being accrued in this plan. For the frozen pension plan, benefits are based primarily on years of service and, for certain plans, levels of compensation. The Company also maintains supplemental non-qualified plans for certain officers and other key employees, and an Employee Savings and Stock Option Plan (“ESSOP”) for the majority of the U.S. employees. The Company additionally has a postretirement healthcare benefit plan that provides medical benefits for certain U.S. retirees and eligible dependents hired prior to November 1, 2004. Employees are eligible to receive postretirement healthcare benefits upon meeting certain age and service requirements. No employees hired after October 31, 2004 are eligible to receive these benefits. This plan requires employee contributions to offset benefit costs. The following table sets forth the components of net periodic benefit cost for the three months ended March 31, 2016 and 2015 based on December 31, 2015 and 2014 actuarial measurement dates, respectively: Defined pension plan benefits Other postretirement benefits (In thousands) 2016 2015 2016 2015 Service cost – benefits earned during the year $ 7 $ 16 $ 36 $ 40 Interest cost on projected benefit obligations 455 446 64 66 Expected return on plan assets (549 ) (543 ) — — Amortization of prior service (benefit) cost — — (6 ) 13 Amortization of net loss 157 191 — — Net periodic benefit cost $ 70 $ 110 $ 94 $ 119 The Company disclosed in its financial statements for the year ended December 31, 2015 that it was not required to make a minimum contribution to the defined benefit pension plan for the 2016 calendar year. The Company continues to believe no additional contributions will be required during 2016 . The Company also disclosed in its financial statements for the year ended December 31, 2015 that it estimated it would pay $0.4 million in other postretirement benefits in 2016 based on actuarial estimates. As of March 31, 2016 , $12,000 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 2016 will not impact the expense for postretirement benefits for 2016 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Components of and changes in accumulated other comprehensive loss at March 31, 2016 are as follows: (In thousands) Unrecognized pension and postretirement benefits Foreign currency Total Balance at beginning of period $ (11,968 ) $ (812 ) $ (12,780 ) Other comprehensive loss before reclassifications — 577 577 Amounts reclassified from accumulated other comprehensive loss, net of tax of $(0.1) million 96 — 96 Net current period other comprehensive income, net of tax 96 577 673 Accumulated other comprehensive loss $ (11,872 ) $ (235 ) $ (12,107 ) Details of reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2016 are as follows: (In thousands) Amount reclassified from accumulated other comprehensive loss Amortization of defined benefit pension items: Prior service benefit (1) $ (6 ) Amortization of actuarial loss (1) 157 Total before tax 151 Income tax benefit (55 ) Amount reclassified out of accumulated other comprehensive loss $ 96 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost in Note 3 “Employee Benefit Plans.” Components of and changes in accumulated other comprehensive loss at March 31, 2015 are as follows: (In thousands) Unrecognized pension and postretirement benefits Foreign currency Total Balance at beginning of period $ (11,891 ) $ 35 $ (11,856 ) Other comprehensive income before reclassifications — (696 ) (696 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $(0.1) million 131 — 131 Net current period other comprehensive income (loss), net of tax 131 (696 ) (565 ) Accumulated other comprehensive loss $ (11,760 ) $ (661 ) $ (12,421 ) Details of reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2015 are as follows: (In thousands) Amount reclassified from accumulated other comprehensive loss Amortization of defined benefit pension items: Prior service cost (1) $ 13 Amortization of actuarial loss (1) 191 Total before tax 204 Income tax benefit (73 ) Amount reclassified out of accumulated other comprehensive loss $ 131 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost in Note 3 “Employee Benefit Plans.”

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisition On August 17, 2015 , the Company's wholly-owned subsidiary, National Meter & Automation, Inc. (“National Meter”), acquired the assets of United Utilities, Inc. of Smyrna, Tennessee, which was one of the Company's distributors serving Tennessee and Georgia. National Meter will do business in those and additional areas as "United Utilities". The total purchase consideration for the United Utilities assets was $3.3 million , which included $0.4 million in cash and settlement of $2.9 million of pre-existing Company receivables. The Company's allocation of the purchase price at March 31, 2016 included $0.8 million of receivables, $0.4 million of inventory, $0.1 million of property, plant and equipment, $1.7 million of intangibles, and $0.3 million of goodwill. The intangible assets acquired are primarily customer relationships with an estimated average useful life of 12 years . The preliminary allocation of the purchase price to the assets acquired was based upon the estimated fair values at the date of acquisition. As of March 31, 2016 , the Company had not completed its analysis for estimating the fair value of the assets acquired. The United Utilities 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 acquisition did not have a material impact on the Company's consolidated financial statements or the notes thereto.

Contingencies, Litigation and C

Contingencies, Litigation and Commitments	3 Months Ended
	Mar. 31, 2016
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 2015 and the first quarter of 2016 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 in the past may have been 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	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes as a percentage of earnings before income taxes for the first quarter of 2016 was 36.3% compared to 37.2% in the first quarter of 2015 . Interim provisions are tied to an estimate of the overall annual rate which can vary due to state taxes, the relationship of foreign and domestic earnings, and production credits available. These items cause variations between periods.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	3 Months Ended
	Mar. 31, 2016
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	3 Months Ended
	Mar. 31, 2016
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 date of 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 financial statements and the notes to these financial statements, the Company evaluated subsequent events through the date the accompanying financial statements were issued.

New Pronouncements

New Pronouncements	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Pronouncement	New Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Improvements to Employee Share-Based Payment Accounting which, among other elements, requires excess tax benefits or tax deficiencies from share-based payment awards to be recorded in income tax expense in the income statement rather than additional paid-in capital for tax benefits and either additional paid-in capital or income tax expense for tax deficiencies. All tax-related cash flows resulting from share-based payments are to be recorded as operating activities on the statement of cash flows. The Company adopted the guidance in the first quarter of 2016 on a prospective basis. The adoption did not have a material impact on the Company's financial condition, results of operations or notes thereto. In May 2014, the FASB issued ASU No. 2014-09 “Revenue from Contracts with Customers.” ASU 2014-09 provides a single principles-based, five-step model to be applied to all contracts with customers. The five steps are to identify the contract(s) with the customer, to identify the performance obligations in the contract, to determine the transaction price, to allocate the transaction price to the performance obligations in the contract and to recognize revenue when each performance obligation is satisfied. Revenue will be recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration expected in exchange for those goods or services. In April 2015, the FASB tentatively agreed to delay the effective date of ASU 2014-09 for one year and to permit early adoption by entities as of the original effective dates. In July 2015, the FASB affirmed its proposal to defer the effective date of the ASU, which has since been issued in August 2015. Considering the one year deferral, ASU 2014-09 will be effective for the Company beginning on January 1, 2018 and the standard allows for either full retrospective adoption or modified retrospective adoption. The Company is continuing to evaluate the impact that the adoption of this guidance will have on its financial condition, results of operations and the presentation of its financial statements.

Additional Financial Informat16

Additional Financial Information Disclosures (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, (In thousands) 2016 2015 Balance at beginning of period $ 3,133 $ 1,739 Net additions charged to earnings 1,093 335 Costs incurred and adjustments (665 ) (525 ) Balance at end of period $ 3,561 $ 1,549

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and 2015 based on December 31, 2015 and 2014 actuarial measurement dates, respectively: Defined pension plan benefits Other postretirement benefits (In thousands) 2016 2015 2016 2015 Service cost – benefits earned during the year $ 7 $ 16 $ 36 $ 40 Interest cost on projected benefit obligations 455 446 64 66 Expected return on plan assets (549 ) (543 ) — — Amortization of prior service (benefit) cost — — (6 ) 13 Amortization of net loss 157 191 — — Net periodic benefit cost $ 70 $ 110 $ 94 $ 119

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Components of accumulated other comprehensive loss	Components of and changes in accumulated other comprehensive loss at March 31, 2016 are as follows: (In thousands) Unrecognized pension and postretirement benefits Foreign currency Total Balance at beginning of period $ (11,968 ) $ (812 ) $ (12,780 ) Other comprehensive loss before reclassifications — 577 577 Amounts reclassified from accumulated other comprehensive loss, net of tax of $(0.1) million 96 — 96 Net current period other comprehensive income, net of tax 96 577 673 Accumulated other comprehensive loss $ (11,872 ) $ (235 ) $ (12,107 ) Details of reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2016 are as follows: (In thousands) Amount reclassified from accumulated other comprehensive loss Amortization of defined benefit pension items: Prior service benefit (1) $ (6 ) Amortization of actuarial loss (1) 157 Total before tax 151 Income tax benefit (55 ) Amount reclassified out of accumulated other comprehensive loss $ 96 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost in Note 3 “Employee Benefit Plans.” Components of and changes in accumulated other comprehensive loss at March 31, 2015 are as follows: (In thousands) Unrecognized pension and postretirement benefits Foreign currency Total Balance at beginning of period $ (11,891 ) $ 35 $ (11,856 ) Other comprehensive income before reclassifications — (696 ) (696 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $(0.1) million 131 — 131 Net current period other comprehensive income (loss), net of tax 131 (696 ) (565 ) Accumulated other comprehensive loss $ (11,760 ) $ (661 ) $ (12,421 ) Details of reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2015 are as follows: (In thousands) Amount reclassified from accumulated other comprehensive loss Amortization of defined benefit pension items: Prior service cost (1) $ 13 Amortization of actuarial loss (1) 191 Total before tax 204 Income tax benefit (73 ) Amount reclassified out of accumulated other comprehensive loss $ 131 (1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost in Note 3 “Employee Benefit Plans.”

Additional Financial Informat19

Additional Financial Information Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in warranty and after-sale costs reserve
Balance at beginning of period	$ 3,133	$ 1,739
Net additions charged to earnings	1,093	335
Costs incurred and adjustments	(665)	(525)
Balance at end of period	$ 3,561	$ 1,549

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined pension plan benefits
Components of net periodic benefit cost
Service cost – benefits earned during the year	$ 7	$ 16
Interest cost on projected benefit obligations	455	446
Expected return on plan assets	(549)	(543)
Amortization of prior service (benefit) cost	0	0
Amortization of net loss	157	191
Net periodic benefit cost	70	110
Other postretirement benefits
Components of net periodic benefit cost
Service cost – benefits earned during the year	36	40
Interest cost on projected benefit obligations	64	66
Expected return on plan assets	0	0
Amortization of prior service (benefit) cost	(6)	13
Amortization of net loss	0	0
Net periodic benefit cost	$ 94	$ 119

Employee Benefit Plans (Detai21

Employee Benefit Plans (Details Textual) - Other postretirement benefits - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Contribution to employee benefit plans		$ 400
Defined benefit plan contributions paid	$ 12

Accumulated Other Comprehensi22

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	$ (12,780)	$ (11,856)
Other comprehensive income (loss) before reclassifications	577	(696)
Amounts reclassified from accumulated other comprehensive loss, net of tax	96	131
Net current period other comprehensive income, net of tax	673	(565)
Accumulated other comprehensive loss	(12,107)	(12,421)
Income tax benefit	(55)	(73)
Unrecognized pension and postretirement benefits
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(11,968)	(11,891)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax	96	131
Net current period other comprehensive income, net of tax	96	131
Accumulated other comprehensive loss	(11,872)	(11,760)
Income tax benefit	(55)	(73)
Foreign currency
Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(812)	35
Other comprehensive income (loss) before reclassifications	577	(696)
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	0
Net current period other comprehensive income, net of tax	577	(696)
Accumulated other comprehensive loss	(235)	(661)
Income tax benefit	$ 0	$ 0

Accumulated Other Comprehensi23

Accumulated Other Comprehensive Loss (Reclassifications out of Accumulated Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Prior service cost	$ (6)	$ 13
Amortization of actuarial loss	157	191
Total before tax	151	204
Income tax benefit	(55)	(73)
Amount reclassified out of accumulated other comprehensive loss	$ 96	$ 131

Acquisition - United Utilities,

Acquisition - United Utilities, Inc. (Details) - USD ($) $ in Thousands	Aug. 17, 2015	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition
Goodwill		$ 47,978	$ 47,978
United Utilities, Inc. | National Meter and Automation, Inc.
Business Acquisition
Total purchase consideration	$ 3,300
Cash payment	400
Pre-existing receivables	2,900
Receivables	800
Inventory	400
Property, plant and equipment	100
Intangibles	1,700
Goodwill	$ 300
United Utilities, Inc. | National Meter and Automation, Inc. | Customer relationships
Business Acquisition
Estimated average useful life (in years)		12 years

Contingencies, Litigation and25

Contingencies, Litigation and Commitments (Details)	3 Months Ended
	Mar. 31, 2016potentially_responsible_partylawsuit
Landfill Lawsuit
Loss Contingencies [Line Items]
Number of defendants | potentially_responsible_party	1
Landfill
Loss Contingencies [Line Items]
Number of lawsuits | lawsuit	2

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes as a percentage of earnings before income taxes	36.30%	37.20%