Badger Meter (BMI) 10-K 21 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 04, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	BADGER METER, INC.
Entity Central Index Key	0000009092
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		29,113,242
Entity Public Float			$ 1,720
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Trading Symbol	BMI
Security Exchange Name	NYSE
Entity File Number	001-06706
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0143280
Entity Address, Address Line One	4545 W. Brown Deer Road
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53233
City Area Code	414
Local Phone Number	355-0400
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference [Text Block]	Portions of the Company's Proxy Statement for the 2020 Annual Meeting of Shareholders, which will be filed with the Securities and Exchange Commission under Regulation 14A within 120 days after the end of the registrant's fiscal year, are incorporated by reference from the definitive Proxy Statement into Part III of this Annual Report on Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 48,871	$ 13,086
Receivables	61,365	66,300
Inventories:
Finished goods	22,946	23,476
Work in process	17,728	17,097
Raw materials	41,274	40,231
Total inventories	81,948	80,804
Prepaid expenses and other current assets	7,910	4,469
Total current assets	200,094	164,659
Property, plant and equipment, at cost:
Land and improvements	9,056	9,066
Buildings and improvements	68,443	67,932
Machinery and equipment	132,326	136,724
Property, plant and equipment, at cost	209,825	213,722
Less accumulated depreciation	(124,064)	(123,401)
Net property, plant and equipment	85,761	90,321
Intangible assets, at cost less accumulated amortization	48,163	55,418
Other assets	15,875	8,872
Deferred income taxes	742	2,163
Goodwill	71,258	71,258
Total assets	421,893	392,691
Current liabilities:
Short-term debt	4,480	18,060
Payables	31,523	22,469
Accrued compensation and employee benefits	12,754	13,768
Warranty and after-sale costs	5,583	4,206
Other current liabilities	2,907	1,512
Total current liabilities	57,247	60,015
Other long-term liabilities	22,980	13,972
Deferred income taxes	876	3,332
Accrued non-pension postretirement benefits	5,711	5,184
Other accrued employee benefits	4,011	6,685
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,200,698 shares in 2019 and 37,198,298 shares in 2018	37,200	37,198
Capital in excess of par value	41,956	38,082
Reinvested earnings	285,879	257,313
Accumulated other comprehensive income	425	580
Less: Employee benefit stock	(154)	(306)
Treasury stock, at cost; 8,082,166 shares in 2019 and 8,079,727 shares in 2018	(34,238)	(29,364)
Total shareholders’ equity	331,068	303,503
Total liabilities and shareholders’ equity	$ 421,893	$ 392,691

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	37,200,698	37,198,298
Treasury stock, shares (in shares)	8,082,166	8,079,727

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 424,625	$ 433,732	$ 402,440
Cost of sales	261,097	271,383	246,694
Gross margin	163,528	162,349	155,746
Selling, engineering and administration	101,380	105,480	99,151
Operating earnings	62,148	56,869	56,595
Interest expense, net	253	1,157	789
Other pension and postretirement costs	288	19,860	973
Earnings before income taxes	61,607	35,852	54,833
Provision for income taxes	14,430	8,062	20,262
Net earnings	$ 47,177	$ 27,790	$ 34,571
Earnings per share:
Basic	$ 1.63	$ 0.96	$ 1.20
Diluted	$ 1.61	$ 0.95	$ 1.19
Shares used in computation of earnings per share:
Basic	29,028	28,993	28,927
Impact of dilutive securities	192	196	184
Diluted	29,220	29,189	29,111

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 47,177	$ 27,790	$ 34,571
Other comprehensive income :
Foreign currency translation adjustment	(58)	(484)	1,844
Pension and postretirement benefits, net of tax	(97)	13,657	(1,102)
Comprehensive income	$ 47,022	$ 40,963	$ 35,313

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net earnings	$ 47,177	$ 27,790	$ 34,571
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation	11,569	11,354	12,056
Amortization	12,577	12,961	12,342
Deferred income taxes	(1,524)	(5,269)	(4,100)
Pension termination settlement charges		19,900
Contributions to pension plan		(2,860)	(825)
Noncurrent employee benefits	(40)	464	714
Stock-based compensation expense	1,214	4,174	1,725
Changes in:
Receivables	5,451	(7,999)	(967)
Inventories	(1,220)	4,859	(6,167)
Payables	11,642	(9,868)	5,141
Prepaid expenses and other current assets	(7,732)	(5,062)	(6,237)
Other liabilities	1,600	9,906	1,498
Total adjustments	33,537	32,560	15,180
Net cash provided by operations	80,714	60,350	49,751
Investing activities:
Property, plant and equipment additions	(7,496)	(8,643)	(15,069)
Acquisitions, net of cash acquired		(8,048)	(20,376)
Net cash used for investing activities	(7,496)	(16,691)	(35,445)
Financing activities:
Net (decrease) increase in short-term debt	(13,500)	(21,012)	6,376
Payment of contingent acquisition consideration	(2,555)	(2,034)
Dividends paid	(18,595)	(16,265)	(14,215)
Proceeds from exercise of stock options	1,961	1,443	1,215
Purchase of common stock for treasury stock	(5,207)	(4,795)	(4,402)
Issuance of treasury stock	187	523	600
Net cash used for financing activities	(37,709)	(42,140)	(10,426)
Effect of foreign exchange rates on cash	276	403	(54)
Increase in cash	35,785	1,922	3,826
Cash — beginning of year	13,086	11,164	7,338
Cash — end of year	48,871	13,086	11,164
Cash paid during the year for:
Income taxes	13,066	12,503	17,912
Interest	$ 268	1,175	867
Non cash transactions:
Settlement of Innovative Metering Systems payables prior to the acquisition		$ 3,246
Settlement of Carolina Meter & Supply payables prior to the acquisition			$ 4,176

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock at $1 par value	[1]	Capital in excess of par value	Reinvested earnings	Employee benefit stock	Accumulated other comprehensive income (loss)	Treasury stock
Balance at beginning of period at Dec. 31, 2016	$ 256,209	$ 37,122		$ 28,022	$ 223,876	$ (614)	$ (11,635)	$ (20,562)
Net earnings	34,571				34,571
Pension and postretirement benefits (net of tax effect)	(1,102)						(1,102)
Foreign currency translation	1,844						1,844
Cash dividends	(14,223)				(14,223)
Stock options exercised	1,871	43		1,798				30
ESSOP transactions	359			205		154
Stock-based compensation	1,725			1,725
Purchase of common stock for treasury stock	(4,402)							(4,402)
Issuance of treasury stock	600			432				168
Balance at end of period at Dec. 31, 2017	277,452	37,165		32,182	244,224	(460)	(10,893)	(24,766)
Net earnings	27,790				27,790
Pension and postretirement benefits (net of tax effect)	13,657						13,657
Foreign currency translation	(484)						(484)
Cash dividends	(16,273)				(16,273)
ASU adoption impact | Accounting Standards Update 2014-09	(128)				(128)
ASU adoption impact | Accounting Standards Update 2018-02	1,700				1,700		(1,700)
Stock options exercised	1,511	33		1,410				68
ESSOP transactions	76			(78)		154
Stock-based compensation	4,174			4,174
Purchase of common stock for treasury stock	(4,795)							(4,795)
Issuance of treasury stock	523			394				129
Balance at end of period at Dec. 31, 2018	303,503	37,198		38,082	257,313	(306)	580	(29,364)
Net earnings	47,177				47,177
Pension and postretirement benefits (net of tax effect)	(97)						(97)
Foreign currency translation	(58)						(58)
Cash dividends	(18,611)				(18,611)
Stock options exercised	1,961	2		1,708				251
ESSOP transactions	553			401		152
Stock-based compensation	1,214			1,214
Purchase of common stock for treasury stock	(5,207)							(5,207)
Issuance of treasury stock	633			551				82
Balance at end of period at Dec. 31, 2019	$ 331,068	$ 37,200		$ 41,956	$ 285,879	$ (154)	$ 425	$ (34,238)
[1]	Each common share of stock equals $1 par value; therefore, the number of common shares is the same as the dollar value.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Statement Of Stockholders Equity [Abstract]
Tax effect on employee benefit funded status adjustment | $	$ 16	$ 5,127	$ 292
Cash dividends (in dollars per share)	$ 0.64	$ 0.56	$ 0.49
Issuance of treasury stock (in shares) | shares	72	40	61
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	BADGER METER, INC. Notes to Consolidated Financial Statements Note 1 Summary of Significant Accounting Policies Profile Badger Meter is an innovator in flow measurement, control and related communication solutions, serving water utilities, municipalities and commercial and industrial customers worldwide. The Company’s products measure water, oil, chemicals and other fluids, and are known for accuracy, long-lasting durability and for providing valuable and timely measurement data through various methods. The Company’s product lines fall into two categories: sales of water meters, radios and related technologies to municipal water utilities (municipal water) and sales of meters, valves and other products for industrial applications in water, wastewater and other industries (flow instrumentation). The Company estimates that nearly 90% of its products are used in water and water related applications. Municipal water, the largest sales category, is comprised of either mechanical or static (ultrasonic) water meters along with the related radio and software technologies and services used by municipal water utilities as the basis for generating their water and wastewater revenues. The largest geographic market for the Company’s municipal water products is North America, primarily the United States, because most of the Company's meters are designed and manufactured to conform to standards promulgated by the American Water Works Association. The majority of water meters sold by the Company continue to be mechanical in nature; however, ultrasonic meters are gaining in penetration due to a variety of factors, including their ability to maintain near absolute measurement accuracy over their useful life. Providing ultrasonic water meter technology, combined with advanced radio technology, provides the Company with the opportunity to sell into other geographical markets, for example the Middle East and Europe. The flow instrumentation product line includes meters and valves sold worldwide to measure and control fluids going through a pipe or pipeline including water, air, steam, oil, and other liquids and gases. These products are used in a variety of industries and applications, with the Company’s primary market focus being water/wastewater; heating, ventilating and air conditioning (HVAC); oil and gas; and chemical and petrochemical. Flow instrumentation products are generally sold to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers’ representatives. Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. Receivables Receivables consist primarily of trade receivables. The Company does not require collateral or other security and evaluates the collectability of its receivables based on a number of factors. An allowance for doubtful accounts is recorded for significant past due receivable balances based on a review of the past due items and the customer's ability and likelihood to pay, as well as applying a historical write-off ratio to the remaining balances. Changes in the Company's allowance for doubtful accounts are as follows: Balance at beginning of year Provision and reserve adjustments Write-offs less recoveries Balance at end of year (In thousands) 2019 $ 360 $ (132 ) $ (4 ) $ 224 2018 $ 387 $ — $ (27 ) $ 360 2017 $ 425 $ 285 $ (323 ) $ 387 Inventories Inventories are valued at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company estimates and records provisions for obsolete and excess inventories. Changes to the Company's obsolete and excess inventories reserve are as follows: Balance at beginning of year Net additions charged to earnings Disposals Balance at end of year (In thousands) 2019 $ 4,131 $ 2,663 $ (1,354 ) $ 5,440 2018 $ 3,881 $ 2,195 $ (1,945 ) $ 4,131 2017 $ 3,639 $ 1,295 $ (1,053 ) $ 3,881 Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the respective assets by the straight-line method. The estimated useful lives of assets are: for land improvements, 15 years; for buildings and improvements, 10 to 39 years; and for machinery and equipment, 3 to 20 years. Capitalized Software and Hardware Capitalized internal use software and hardware included in other assets in the Consolidated Balance Sheets were $5.7 million and $5.2 million at December 31, 2019 and 2018, respectively. These amounts are amortized on a straight-line basis over the estimated useful lives of the software and/or hardware, ranging from 1 to 5 years. Amortization expense recognized for the years ending December 31, 2019, 2018 and 2017 was $3.1 million, $3.2 million and $2.8 million, respectively. Long-Lived Assets Property, plant and equipment and identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected undiscounted cash flows is less than the carrying value of the related asset or group of assets, a loss is recognized for the difference between the fair value and carrying value of the asset or group of assets. Intangible Assets Intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from 5 to 20 years. The Company does not have any intangible assets deemed to have indefinite lives. Amortization expense recognized for 2019 was $7.2 million compared to $7.5 million in 2018 and $6.8 million in 2017. Amortization expense expected to be recognized is $7.0 million December 31, 2019 December 31, 2018 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization (In thousands) Technologies $ 47,608 $ 27,650 $ 47,647 $ 24,785 Intellectual property 10,000 1,333 10,000 833 Non-compete agreements 572 431 2,322 2,076 Licenses 650 509 650 492 Customer lists 8,023 3,234 8,023 2,623 Customer relationships 25,220 14,730 25,220 12,282 Trade names 9,203 5,226 9,595 4,948 Total intangibles $ 101,276 $ 53,113 $ 103,457 $ 48,039 Goodwill Goodwill is tested for impairment annually during the fourth fiscal quarter or more frequently if an event indicates that the goodwill might be impaired. Potential impairment is identified by comparing the fair value of a reporting unit with its carrying value. No adjustments were recorded to goodwill as a result of these tests during 2019, 2018 and 2017. Goodwill was $71.3 million at December 31, 2019 and 2018. 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: Balance at beginning of year Net additions charged to earnings Costs incurred Balance at end of year (In thousands) 2019 $ 4,206 $ 6,616 $ (5,239 ) $ 5,583 2018 $ 3,367 $ 3,274 $ (2,435 ) $ 4,206 2017 $ 2,779 $ 4,081 $ (3,493 ) $ 3,367 Research and Development Research and development costs are charged to expense as incurred and amounted to $11.9 million in 2019, $11.1 million in 2018 and $10.6 million in 2017. Healthcare The Company estimates and records provisions for healthcare claims incurred but not reported, based on medical cost trend analysis, reviews of subsequent payments made and estimates of unbilled amounts. Accumulated Other Comprehensive Income (Loss) Components of accumulated other comprehensive income at December 31, 2019 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ 360 $ 220 $ 580 Other comprehensive loss before reclassifications — (58 ) (58 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax of $16 (97 ) — (97 ) Net current period other comprehensive loss, net (97 ) (58 ) (155 ) Accumulated other comprehensive income $ 263 $ 162 $ 425 Details of reclassifications out of accumulated other comprehensive income during 2019 are as follows: Amount reclassified from accumulated other comprehensive income (loss) (In thousands) Amortization of employee benefit plan items: Actuarial gains and losses (1) $ (639 ) Plan settlement (2) 526 Total before tax (113 ) Income tax impact 16 Amount reclassified out of accumulated other comprehensive income (loss) $ (97 ) (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.” (2) This accumulated other comprehensive income component resulted from an international pension plan settlement. Components of accumulated other compreh ensive (loss) income at December 31, 2018 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ (11,597 ) $ 704 $ (10,893 ) Other comprehensive income (loss) before reclassifications — (484 ) (484 ) Amounts reclassified from accumulated other comprehensive income, net of tax of $(5.1 million) 13,657 — 13,657 Net current period other comprehensive income (loss), net 13,657 (484 ) 13,173 Cumulative impact of adopting ASU 2018-02 (1,700 ) — (1,700 ) Accumulated other comprehensive income $ 360 $ 220 $ 580 Details of reclassifications out of accumulated other comprehensive income (loss) during 2018 are as follows: Amount reclassified from accumulated other comprehensive income (In thousands) Amortization of employee benefit plan items: Prior service cost (1) $ (13 ) Settlement expense (1) 19,900 Actuarial loss (1) (1,103 ) Total before tax 18,784 Income tax impact (5,127 ) Amount reclassified out of accumulated other comprehensive income $ 13,657 (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.” Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) 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. Fair Value Measurements of Financial Instruments 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. 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 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 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 In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-14 “Compensation Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20),” which modifies the annual disclosure requirements for defined benefit pension and other postretirement benefit plans. This ASU, as modified, added and deleted specific disclosures in an effort to improve the usefulness for financial statement users while also reducing unnecessary costs for companies. The ASU is effective for annual periods beginning after December 15, 2020 with early adoption being permitted in any interim reporting period within the annual reporting period. The Company adopted ASU No. 2018-14 on December 31, 2019 and noted no significant changes. In August 2018, the FASB issued ASU No. 2018-13 “Fair Value Measurement (Topic 820),” which is designed to improve the effectiveness of disclosures related to fair value measurements. This ASU is effective for annual periods beginning after December 15, 2019 and early adoption is allowed in any interim reporting period within the annual reporting period. The Company adopted ASU No. 2018-13 on December 31, 2019 and noted no significant changes. In January 2017, the FASB issued ASU No. 2017-04 “Intangibles - Goodwill and Other (Topic 350).” The update requires a single-step quantitative test to measure potential impairment based on the excess of a reporting unit's carrying amount over its fair value. A qualitative assessment can still be completed first for an entity to determine if a quantitative impairment test is necessary. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2019 and interim periods thereafter. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted ASU No. 2017-04 on January 1, 2019. The adoption of this standard did not have any impact on the Company’s financial statements. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326),” which amends the accounting for credit losses on purchased financial assets and available-for-sale debt securities with credit deterioration. This ASU requires the measurement of all expected credit losses for financial assets, including accounts receivables, held at the reporting date based upon current conditions, historical experience and reasonable forecasts. This ASU is effective for annual reporting periods beginning after December 15, 2019, and early adoption is allowed in any interim reporting period within the annual reporting period. The Company completed an analysis of ASU No. 2016-13 and concluded that the adoption of the standard effective January 1, 2020, will not have a significant impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02 “Leases (Topic 842),” which requires lessees to record most leases on their balance sheets. Lessees initially recognize a lease liability (measured at the present value of the lease payments over the lease term) and a right-of-use asset (measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and the lessee's initial direct costs). Lessees can make an accounting policy election not to recognize ROU assets and lease liabilities for leases with a lease term of 12 months or less as long as the leases do not include options to purchase the underlying assets that the lessee is reasonably certain to exercise. The standard includes the use of a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. Full retrospective application is prohibited. In July 2018, the FASB issued ASU No. 2018-11 “Targeted Improvements (Topic 842).” This ASU provides for an optional method of transition which allows companies to adopt the new leasing standard with a cumulative effect adjustment to reinvested earnings. The Company adopted the new leasing standard with the optional transition methodology as of January 1, 2019. For a complete discussion of the adoption of ASU No. 2016-02 and ASU No. 2018-11, see Note 12 “Leases” in the Notes to Consolidated Financial Statements.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Common Stock	Note 2 Common Stock Common Stock The authorized common stock of the Company as of December 31, 2019 consisted of 40,000,000 shares of common stock, $1 par value, of which 37,200,698 and 37,198,298 were issued and outstanding as of December 31, 2019 and 2018, respectively. The Company had a Common Share Purchase Rights plan that was in effect since February 15, 2008, but it expired on May 26, 2018 and the Board of Directors elected not to renew it. Stock Options Stock options to purchase 54,139 shares of the Company's Stock in 2019, 21,887 shares in 2018 and 55,223 shares in 2017 were not included in the computation of dilutive securities because their inclusion would have been anti-dilutive.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Acquisitions	Note 3 Acquisitions Acquisitions are 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 acquisitions did not have a material impact on the Company's consolidated financial statements or the notes thereto. On April 2, 2018, the Company acquired 100% of the outstanding stock of Innovative Metering Solutions, Inc. (“IMS”) of Odessa, Florida, which was one of the Company's distributors serving Florida. The total purchase consideration was approximately $12.0 million, which included $7.7 million in cash, a $0.3 million working capital adjustment, a balance sheet holdback of $0.7 million and a $3.3 million settlement of pre-existing Company receivables. The working capital adjustment was settled in the second quarter of 2018 and the balance sheet holdback was paid in the second quarter of 2019. The Company's allocation of the purchase price at March 31, 2019 included $3.8 million of receivables, $0.8 million of inventories, $0.1 million of machinery and equipment, $3.6 million of intangibles and $3.7 million of goodwill. The intangible assets acquired are customer relationships with an estimated average useful life of 10 years. As of March 31, 2019, the Company had completed its analysis for estimating the fair value of the assets acquired with no additional adjustments. On November 1, 2017, the Company acquired certain assets of Utility Metering Services, Inc.'s business Carolina Meter & Supply (“Carolina Meter”) of Wilmington, North Carolina, which was one of the Company's distributors serving North Carolina, South Carolina and Virginia. The total purchase consideration for the Carolina Meter assets was $6.3 million, which included $2.1 million in cash and settlement of $4.2 million of pre-existing Company receivables. The Company's allocation of the purchase price included $0.6 million of receivables, $0.2 million of inventory, $3.3 million of intangibles and $2.2 million of goodwill. The intangible assets acquired are primarily customer relationships with an estimated average useful life of 12 years. The allocation of the purchase price to the assets acquired was based upon the estimated fair values at the date of acquisition . On May 1, 2017, the Company acquired 100% of the outstanding common stock of D-Flow Technology AB (“D-Flow”) of Luleå, Sweden. The D-Flow acquisition facilitates the continued advancement of the existing E-Series® ultrasonic product line while also adding a technology center for the Company. The purchase price was approximately $23.2 million in cash, plus a small working capital adjustment. The purchase price included $2.0 million in payments that were made in 2018, $2.0 million in payments that were made in 2019 and $1.0 million in payments that are anticipated to be made in 2020 and is recorded in payables on the Consolidated Balance Sheets at December 31, 2019. The Company's allocation of the purchase price included approximately $0.3 million of receivables, $0.6 million of inventory, $0.2 million of property, plant and equipment, $10.9 million of intangibles and $16.1 million of goodwill. The majority of the intangible assets acquired related to ultrasonic technology. The Company also assumed $ 4.9

Short-term Debt and Credit Line

Short-term Debt and Credit Lines	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Short-term Debt and Credit Lines	Note 4 Short-term Debt and Credit Lines Short-term debt at December 31, 2019 and 2018 consisted of: 2019 2018 (In thousands) Notes payable to banks $ 4,480 $ 4,560 Commercial paper — 13,500 Total short-term debt $ 4,480 $ 18,060 Included in notes payable to banks at December 31, 2019 was $4.5 million outstanding under a 4.0 million Euro-based revolving loan facility that does not expire, and which bore interest at 1.50%. Included in notes payable to banks at December 31, 2018 was $4.6 million outstanding under a 4.0 million Euro-based revolving loan facility that does not expire, and which bore interest at 1.14%. In June 2018, the Company amended its May 2012 credit agreement with its primary lender and extended its term until September 2021. The credit agreement includes a $125.0 million line of credit that supports commercial paper (up to $70.0 million) and includes $5.0 million of a Euro line of credit. Borrowings of commercial paper bore interest at 3.11% in 2018. Under the principal line of credit, the Company had $125.0 million of unused credit lines available out of the total of $128.3 million available short-term credit lines at December 31, 2019. While the facility is unsecured, there are a number of financial covenants with which the Company must comply, and the Company was in compliance as of December 31, 2019.

Stock Compensation

Stock Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation	Note 5 Stock Compensation As of December 31, 2019, the Company has an Omnibus Incentive Plan under which 1,400,000 shares are reserved for restricted stock and stock options grants for employees, as well as stock grants for directors. The plan was originally approved in 2011 and replaced all prior stock-based plans except for shares and options previously issued under those plans. As of December 31, 2019 and 2018, there were 502,839 shares and 548,653 shares, respectively, of the Company’s Common Stock available for grant under the 2011 Omnibus Incentive Plan. The Company recognizes the cost of stock-based awards in net earnings for all of its stock-based compensation plans on a straight-line basis over the service period of the awards. The following sections describe the three types of grants in more detail. Stock Options The Company estimates the fair value of its option awards using the Black-Scholes option-pricing formula, and records compensation expense for stock options ratably over the stock option grant’s vesting period. Stock option compensation expense recognized by the Company for the year ended December 31, 2019 related to stock options was $0.3 million compared to $2.1 million in 2018 and $0.7 million in 2017. The following table summarizes the transactions of the Company’s stock option plans for the three-year period ended December 31, 2019: Number of shares Weighted- average exercise price Options outstanding - December 31, 2016 384,258 $ 23.75 Options granted 55,223 $ 36.75 Options exercised (53,198 ) $ 22.83 Options forfeited — n/a Options outstanding - December 31, 2017 386,283 $ 25.74 Options granted 43,778 $ 48.20 Options modified 80,642 $ 52.44 Options exercised (53,161 ) $ 21.47 Options canceled (80,642 ) $ 37.04 Options forfeited — n/a Options outstanding - December 31, 2018 376,900 $ 28.95 Options granted 34,926 $ 59.44 Options exercised (66,969 ) $ 29.29 Options forfeited (7,525 ) $ 38.81 Options outstanding - December 31, 2019 337,332 $ 31.82 Price range $ 18.08 — $ 19.21 (weighted-average contractual life of 1.7 years) 102,900 $ 18.36 Price range $ 25.65 — $ 33.98 (weighted-average contractual life of 4.7 years) 121,093 $ 28.76 Price range $ 33.98 — $ 59.85 (weighted-average contractual life of 5.3 years) 113,339 $ 46.11 Options outstanding - December 31, 2019 337,332 Exercisable options — December 31, 2017 239,043 $ 21.59 December 31, 2018 321,122 $ 27.16 December 31, 2019 271,252 $ 27.17 The following assumptions were used for valuing options granted in the years ended December 31: 2019 2018 Per share fair value of options granted during the period $ 18.20 $ 18.50 Risk-free interest rate 2.52 % 2.59 % Dividend yield 0.97 % 1.05 % Volatility factor 32.4 % 43.2 % Weighted-average expected life in years 5.3 5.3 The expected life is based on historical exercise behavior and the projected exercise of unexercised stock options. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the date of grant for the respective expected life of the option. The expected dividend yield is based on the expected annual dividends divided by the grant date market value of the Company’s Common Stock. The expected volatility is based on the historical volatility of the Company’s Common Stock. The following table summarizes the aggregate intrinsic value related to options exercised, outstanding and exercisable as of and for the years ended December 31: 2019 2018 (In thousands) Exercised $ 1,870 $ 1,590 Outstanding $ 11,170 $ 8,390 Exercisable $ 10,243 $ 7,722 As of December 31, 2019, the unrecognized compensation cost related to stock options was approximately $0.9 million, which will be recognized over a weighted average period of 2.5 years. Director Stock Grant Non-employee directors receive an annual award of $57,000 worth of restricted shares of the Company’s Common Stock under the shareholder-approved 2011 Omnibus Incentive Plan. The Company values stock grants for directors at the closing price of the Company’s stock on the day the grant was awarded. The Company records compensation expense for this plan ratably over the annual service period beginning May 1. Director stock compensation expense recognized by the Company for the years ended December 31, 2019 was $0.3 million compared to $0.5 million in 2018 and 2017. As of December 31, 2019, the unrecognized compensation cost related to the director stock award that is expected to be recognized over the remaining three months is estimated to be approximately $0.1 million. Restricted Stock The Company periodically issues nonvested shares of the Company's Common Stock to certain eligible employees. The Company values restricted stock on the closing price of the Company's stock on the day the grant was awarded. The Company records compensation expense for this plan ratably over the vesting periods. Restricted stock compensation expense recognized by the Company for the year ended December 31, 2019 was $0.9 million compared to $2.1 million in 2018 and $1.1 million in 2017. The fair value of nonvested shares is determined based on the market price of the shares on the grant date. Shares Fair value per share Nonvested at December 31, 2016 105,316 $ 29.41 Granted 50,519 $ 40.69 Vested (40,762 ) $ 27.18 Forfeited (3,600 ) $ 33.37 Nonvested at December 31, 2017 111,473 $ 35.21 Granted 32,268 $ 49.10 Modified 30,488 $ 52.47 Vested (68,289 ) $ 40.16 Canceled (30,488 ) $ 38.62 Forfeited (2,650 ) $ 36.83 Nonvested at December 31, 2018 72,802 $ 42.58 Granted 16,034 $ 59.42 Vested (19,227 ) $ 30.08 Forfeited (5,129 ) $ 41.31 Nonvested at December 31, 2019 64,480 $ 48.21 As of December 31, 2019, there was $1.7 million of unrecognized compensation cost related to nonvested restricted stock that is expected to be recognized over a weighted average period of 1.7 years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 Commitments and Contingencies Commitments The Company makes commitments in the normal course of business. The Company rents equipment, vehicles and facilities under operating leases, some of which contain renewal options. Total rental expense charged to operations under all operating leases was $3.4 million, $3.7 million and $3.6 million in 2019, 2018 and 2017, respectively. The Company’s lease commitments and future minimum lease payments are discussed in Note 12 “Leases.” Contingencies 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 Company is subject to contingencies related to environmental laws and regulations. A future change in circumstances with respect to 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 2019, 2018 and 2017 were not material. The Company relies on single suppliers for most brass castings and certain resin and 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 could 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.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 7 Employee Benefit Plans Historically, the Company maintained a non-contributory defined benefit pension plan that covered substantially all U.S. employees who were employed at December 31, 2011. After that date, no further benefits were accrued in the plan. For the frozen pension plan, benefits were based primarily on years of service and, for certain employees, levels of compensation. In 2018, the Company completed the termination of the non-contributory defined benefit pension plan. The Company 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 also 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. Amounts included in accumulated other comprehensive income (loss), net of tax, at December 31, 2019 that have not yet been recognized in net periodic benefit cost are as follows: Pension plans Other postretirement benefits (In thousands) Net actuarial loss (gain) $ 28 $ (289 ) Amounts included in accumulated other comprehensive income (loss), net of tax, at December 31, 2019 expected to be recognized in net periodic benefit cost during the fiscal year ending December 31, 2020 are not expected to be material. Qualified Pension Plan The Company completed the termination of the non-contributory defined benefit pension plan in 2018 and therefore the tables below show no activity or actuarial assumptions for the year ended December 31, 2019. The following table sets forth the components of net periodic pension cost for the years ended December 31, 2018 and 2017 based on a December 31 measurement date: 2018 2017 (In thousands) Service cost - benefits earned during the year $ — $ 2 Interest cost on projected benefit obligations 305 1,228 Expected return on plan assets (835 ) (1,596 ) Amortization of net loss 262 525 Settlement expense 19,900 641 Net periodic pension cost $ 19,632 $ 800 Actuarial assumptions used in the determination of the net periodic pension cost are: 2018 2017 Discount rate 2.00 % 3.90 % Expected long-term return on plan assets 3.00 % 4.00 % Rate of compensation increase n/a n/a The Company's discount rate assumptions for the qualified pension plan are based on the average yield of a hypothetical high quality bond portfolio with maturities that approximately match the estimated cash flow needs of the plan. The assumptions for expected long-term rates of return on assets are based on historical experience and estimated future investment returns, taking into consideration anticipated asset allocations, investment strategies and the views of various investment professionals. The use of these assumptions can cause volatility if actual results differ from expected results. The following table provides a reconciliation of benefit obligations, plan assets and funded status based on a December 31 measurement date: 2018 (In thousands) Change in benefit obligation: Benefit obligation at beginning of plan year $ 42,898 Service cost — Interest cost 305 Actuarial loss (198 ) Benefits paid (43,005 ) Projected benefit obligation at measurement date $ — Change in plan assets: Fair value of plan assets at beginning of plan year $ 41,517 Actual return on plan assets (1,375 ) Company contribution 2,860 Benefits paid (43,002 ) Fair value of plan assets at measurement date $ — Funded status of the plan: Benefit obligation in excess of plan assets $ — Benefit plan assets in excess of benefit obligation — Pension liability $ — The fair value of the qualified pension plan assets was $0 at December 31, 2019 and 2018. Supplemental Non-qualified Unfunded Plans The Company also maintains supplemental non-qualified unfunded plans for certain officers and other key employees. The expense for these plans was not material for 2019, 2018 or 2017. The discount rate used to measure the net periodic pension cost was 2.86% for 2019, 2.16% for 2018 and 1.91% for 2017. The amount accrued was $0.5 million and $2.3 million as of December 31, 2019 and 2018, respectively. Other Postretirement Benefits The Company has a postretirement plan that provides medical benefits for certain U.S. retirees and eligible dependents hired prior to November 1, 2004. The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 (In thousands) Service cost, benefits attributed for service of active employees for the period $ 103 $ 124 $ 121 Interest cost on the accumulated postretirement benefit obligation 210 189 195 Amortization of actuarial gain (117 ) (30 ) (49 ) Amortization of prior service credit — (13 ) (25 ) Net periodic postretirement benefit cost $ 196 $ 270 $ 242 The discount rate used to measure the net periodic postretirement benefit cost was 4.33% for 2019, 3.65% for 2018 and 4.16% for 2017. It is the Company's policy to fund healthcare benefits on a cash basis. Because the plan is unfunded, there are no plan assets. The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date: 2019 2018 (In thousands) Benefit obligation at beginning of year $ 5,551 $ 6,073 Service cost 103 124 Interest cost 210 189 Actuarial gain 657 (511 ) Plan participants' contributions 532 547 Benefits paid (978 ) (871 ) Benefit obligation and funded status at end of year $ 6,075 $ 5,551 The amounts recognized in the Consolidated Balance Sheets at December 31 are: 2019 2018 (In thousands) Accrued compensation and employee benefits $ 364 $ 367 Accrued non-pension postretirement benefits 5,711 5,184 Amounts recognized at December 31 $ 6,075 $ 5,551 The discount rate used to measure the accumulated postretirement benefit obligation was 3.19% for 2019 and 4.33% for 2018. The Company's discount rate assumptions for its postretirement benefit plan are based on the average yield of a hypothetical high quality bond portfolio with maturities that approximately match the estimated cash flow needs of the plan. Because the plan requires the Company to establish fixed Company contribution amounts for retiree healthcare benefits, future healthcare cost trends do not generally impact the Company's accruals or provisions. Estimated future benefit payments of postretirement benefits, assuming increased cost sharing, expected to be paid in each of the next five years beginning with 2020 are $0.4 million through 2024, with an aggregate of $2.0 million for the five years thereafter. These amounts can vary significantly from year to year because the cost sharing estimates can vary from actual expenses as the Company is self-insured. Badger Meter Employee Savings and Stock Ownership Plan The ESSOP includes a voluntary 401(k) savings plan that allows certain employees to defer up to 20% of their income on a pretax basis subject to limits on maximum amounts. The Company matches 25% of each employee’s contribution, with the match percentage applying to a maximum of 7% of each employee's salary. The match is paid using the Company's Common Stock released through the ESSOP loan payments. For ESSOP shares purchased prior to 1993, compensation expense is recognized based on the original purchase price of the shares released and dividends on unreleased shares are charged to compensation expense. For shares purchased in or after 1993, expense is based on the market value of the shares on the date released and dividends on unreleased shares are charged to compensation expense. Compensation expense of $0.6 million in 2019 compared to $0.5 million that was recognized for the match in 2018 and 2017. 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 ESSOP plan 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 same defined contribution feature within the ESSOP. Compensation expense under the defined contribution feature was $3.1 million in 2019 and $3.0 million in 2018.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 Income Taxes The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes and recording the related deferred tax assets and liabilities. Details of earnings before income taxes are as follows: 2019 2018 2017 (In thousands) Domestic $ 62,639 $ 31,584 $ 52,745 Foreign (1,032 ) 4,268 2,088 Total $ 61,607 $ 35,852 $ 54,833 The provision (benefit) for income taxes is as follows: 2019 2018 2017 (In thousands) Current: Federal $ 12,113 $ 9,223 $ 20,553 State 2,591 2,640 2,933 Foreign 1,250 1,468 876 Deferred: Federal (1,066 ) (2,890 ) (3,051 ) State 417 (1,765 ) (915 ) Foreign (875 ) (614 ) (134 ) Total $ 14,430 $ 8,062 $ 20,262 The provision for income tax differs from the amount that would be provided by applying the statutory U.S. corporate income tax rate in each year due to the following items: 2019 2018 2017 (In thousands) Provision at statutory rate $ 12,938 $ 7,529 $ 19,192 State income taxes, net of federal tax benefit 2,080 717 1,292 Valuation allowance 515 — 564 Foreign - tax rate differential and other 70 159 29 Domestic production activities deduction — — (721 ) Federal tax credits (609 ) (742 ) (542 ) Compensation subject to section 162(m) 66 562 — Stock based compensation (253 ) (384 ) — Tax rate difference on temporary adjustments — (460 ) — Other (377 ) 681 448 Actual provision $ 14,430 $ 8,062 $ 20,262 The components of deferred income taxes as of December 31 are as follows: 2019 2018 (In thousands) Deferred tax assets: Reserve for receivables and inventories $ 2,108 $ 2,210 Accrued compensation 888 929 Payables 1,410 1,090 Non-pension postretirement benefits 1,505 1,110 Net operating loss and credit carryforwards 1,401 308 Accrued pension benefits 933 1,552 Accrued employee benefits 1,747 2,534 Deferred revenue 2,219 1,858 Operating lease liabilities 1,861 — Other 497 — Total gross deferred tax assets 14,569 11,591 Less: valuation allowance (863 ) (366 ) Total net deferred tax assets 13,706 11,225 Deferred tax liabilities: Depreciation 4,673 4,679 Amortization 6,158 7,146 Prepaids 529 517 Operating lease assets 1,850 — Other 630 52 Total deferred tax liabilities 13,840 12,394 Net deferred tax liabilities $ (134 ) $ (1,169 ) At December 31, 2019, the Company utilized all of the federal net operating losses. The Company’s remaining tax credit carryforward of $0.4 million relates to state specific tax credits that the Company expects to fully utilize in future tax periods. During 2019, the Company recorded a valuation allowance of $0.5 million against a deferred tax asset related to a German net operating loss. No provision for federal income taxes was made on the earnings of foreign subsidiaries that are considered indefinitely invested or that would be offset by foreign tax credits upon distribution. Such undistributed earnings at December 31, 2019 were $22.1 million of which $22.7 million was previously taxed in the U.S. under the transition tax provisions and other provisions of the Internal Revenue Code. Changes in the Company's gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows: 2019 2018 (In thousands) Balance at beginning of year $ 1,121 $ 998 Increases in unrecognized tax benefits as a result of positions taken during the prior year 88 127 Increases in unrecognized tax benefits as a result of positions taken during the current year 235 190 Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations (279 ) (194 ) Balance at end of year $ 1,165 $ 1,121 The Company does not expect a significant increase or decrease to the total amounts of unrecognized tax benefits during the fiscal year ending December 31, 2020. To the extent these unrecognized tax benefits are ultimately recognized, they will impact the effective tax rate. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for years prior to 2016, and, with few exceptions, state and local income tax examinations by tax authorities for years prior to 2015. The Company’s policy is to recognize interest related to unrecognized tax benefits as interest expense and penalties as operating expenses. Accrued interest was approximately $0.1 million at December 31, 2019 and 2018, respectively, and there were no penalties accrued in either year.

Industry Segment and Geographic

Industry Segment and Geographic Areas	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Industry Segment and Geographic Areas	Note 9 Industry Segment and Geographic Areas The Company is an innovator, manufacturer, marketer and distributor of products incorporating flow measurement, control and communication solutions, which comprise one reportable segment. The Company manages and evaluates its operations as one segment primarily due to similarities in the nature of the products, production processes, customers and methods of distribution. Information regarding revenues by geographic area is as follows: 2019 2018 2017 (In thousands) Revenues: United States $ 369,163 $ 374,650 $ 355,768 Foreign: Asia 9,111 9,081 9,133 Canada 13,568 11,893 10,407 Europe 15,784 20,147 15,718 Mexico 5,791 3,603 3,601 Middle East 7,868 11,318 4,904 Other 3,340 3,040 2,909 Total $ 424,625 $ 433,732 $ 402,440 Information regarding assets by geographic area is as follows: 2019 2018 (In thousands) Long-lived assets: United States $ 51,539 $ 54,904 Foreign: Europe 14,768 15,247 Mexico 19,454 20,170 Total $ 85,761 $ 90,321 2019 2018 (In thousands) Total assets: United States $ 326,248 $ 293,943 Foreign: Europe 72,296 74,707 Mexico 23,349 24,041 Total $ 421,893 $ 392,691

Unaudited_ Quarterly Results of

Unaudited: Quarterly Results of Operations, Common Stock Price and Dividends	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Unaudited: Quarterly Results of Operations, Common Stock Price and Dividends	Note 10 Unaudited: Quarterly Results of Operations, Common Stock Price and Dividends Quarter ended March 31 June 30 September 30 December 31 (In thousands except per share data) 2019 Net sales $ 104,881 $ 103,542 $ 108,646 $ 107,556 Gross margin $ 40,457 $ 40,276 $ 41,670 $ 41,125 Net earnings $ 10,824 $ 11,358 $ 12,721 $ 12,274 Earnings per share: Basic $ 0.37 $ 0.39 $ 0.44 $ 0.42 Diluted $ 0.37 $ 0.39 $ 0.44 $ 0.42 Dividends declared $ 0.15 $ 0.15 $ 0.17 $ 0.17 Stock price: High $ 61.57 $ 60.28 $ 60.52 $ 66.64 Low $ 47.59 $ 51.56 $ 49.66 $ 50.67 Quarter-end close $ 55.64 $ 59.69 $ 53.70 $ 64.93 2018 Net sales $ 105,041 $ 113,648 $ 110,630 $ 104,413 Gross margin $ 36,748 $ 41,504 $ 43,946 $ 40,151 Net earnings $ 7,546 $ 6,154 $ 2,851 $ 11,239 Earnings per share: Basic $ 0.26 $ 0.21 $ 0.10 $ 0.39 Diluted $ 0.26 $ 0.21 $ 0.10 $ 0.39 Dividends declared $ 0.13 $ 0.13 $ 0.15 $ 0.15 Stock price: High $ 51.05 $ 47.25 $ 56.40 $ 57.12 Low $ 45.45 $ 41.00 $ 50.75 $ 46.70 Quarter-end close $ 47.15 $ 44.70 $ 52.95 $ 49.21 The Company's Common Stock is listed on the New York Stock Exchange under the symbol BMI. Earnings per share are computed independently for each quarter. As such, the annual per share amount may not equal the sum of the quarterly amounts due to rounding. The Company currently anticipates continuing to pay cash dividends. Shareholders of record as of December 31, 2019 and 2018 totaled 790 and 906, respectively. Voting trusts and street name shareholders are counted as single shareholders for this purpose.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 11 Revenue Recognition Revenue for sales of products and services is derived from contracts with customers. The products and services promised in contracts include the sale of municipal water and flow instrumentation products, such as flow meters and radios, software access and other ancillary services. Contracts generally state the terms of sale, including the description, quantity and price of each product or service. Since the customer typically agrees to a stated rate and price in the contract that does not vary over the life of the contract, the majority of the Company's contracts do not contain variable consideration. The Company establishes a provision for estimated warranty and returns as well as certain after sale costs as discussed in Note 1 “Summary of Significant Accounting Policies.” In accordance with ASU No. 2016-10 “Revenue from Contracts with Customers” (“Topic 606”), the Company disaggregates revenue from contracts with customers into geographical regions and by the timing of when goods and services are transferred. The Company determined that disaggregating revenue into these categories meets the disclosure objective in Topic 606 which is to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by regional economic factors. Information regarding revenues disaggregated by geographic area is disclosed in Note 9 “Industry Segment and Geographic Areas.” Information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows: December 31, (In thousands) 2019 2018 Revenue recognized over time $ 16,146 $ 12,943 Revenue recognized at a point in time 408,479 420,789 Total $ 424,625 $ 433,732 The Company performs its obligations under a contract by shipping products or performing services in exchange for consideration. The Company typically invoices its customers as soon as control of an asset is transferred and a receivable to the Company is established. The Company, however, recognizes a contract liability when a customer prepays for goods or services and the Company has not transferred control of the goods or services. The opening and closing balances of the Company's receivables and contract liabilities are as follows: December 31, (In thousands) 2019 2018 Receivables $ 61,365 $ 66,300 Contract liabilities 20,143 15,793 Contract liabilities are included in payables and other-long term liabilities on the Company’s Consolidated Balance Sheet. The balance of contract assets was immaterial as the Company did not have a significant amount of uninvoiced receivables at December 31, 2019. The difference between the opening and closing balances of the Company's contract liabilities was the result of a timing difference between the Company's performance and the customers' prepayments. The decreased receivables balance was due to robust collection efforts and active monitoring processes instituted during the year. A performance obligation in a contract is a promise to transfer a distinct good or service to the customer, and is the unit of measurement in Topic 606. At contract inception, the Company assesses the products and services promised in its contracts with customers. The Company then identifies performance obligations to transfer distinct products or services to the customer. In order to identify performance obligations, the Company considers all of the products or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. The Company's performance obligations are satisfied at a point in time or over time as work progresses. Revenue from products and services transferred to customers at a single point in time accounted for 96.2% and 97.0% of net sales for the years ended December 31, 2019 and 2018, respectively. The majority of the Company's revenue recognized at a point in time is for the sale of municipal and flow instrumentation products. Revenue from these contracts is recognized when the customer is able to direct the use of and obtain substantially all of the benefits from the product which generally coincides with title transfer during the shipping process. Revenue from services transferred to customers over time accounted for 3.8% and 3.0% of net sales for the years ended December 31, 2019 and 2018, respectively. The majority of the Company's revenue that is recognized over time relates to the BEACON AMA software as a service. As of December 31, 2019, the Company had certain contracts with unsatisfied performance obligations. For contracts recorded as long-term liabilities, $20.1 million was the aggregate amount of the transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied as of the end of the reporting period. The Company estimates that revenue recognized from satisfying those performance obligations will be approximately $ 4.5 2.0 The Company records revenue for BEACON AMA SaaS over time as the customer benefits from the use of the Company's software. Control of an asset is therefore transferred to the customer over time and the Company will recognize revenue for BEACON AMA SaaS as service units are used by the customer. Revenue is recorded for various ancillary services, such as project management and training, over time as the customer benefits from the services provided. The majority of this revenue will be recognized equally throughout the contract period as the customer receives benefits from the Company's promise to provide such services. If the service is not provided evenly over the contract period, revenue will be recognized by the associated input/output method that best measures the progress towards contract completion. The Company also has contracts that include both the sale and installation of flow meters as performance obligations. In those cases, the Company records revenue for installed flow meters at the point in time when the flow meters have been accepted by the customer. The customer cannot control the use of and obtain substantially all of the bene fits from the equipment until th e customer has accepted the installed product. Therefore, for both the flow meter and the related installation, the Company has concluded that control is transferred to the customer upon customer acceptance of the installed flow meter. In addition, the Company has a variety of ancillary revenue streams which are minor. The types and composition of the Company's revenue streams did not materially change during t he year ended December 31 , 2019 . Certain customers may receive cash-based incentives or credits, which are accounted for as variable consideration. Variable consideration in contracts for the year ended December 31, 2019 was insignificant. The transaction price for a contract is allocated to each distinct performance obligation and recognized as revenue when, or as, each performance obligation is satisfied. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in a contract. The primary method used to estimate standalone selling price is the observable price when the good or service is sold separately in similar circumstances and to similar customers. If standalone selling price is not directly observable, it is estimated using either a market adjustment or cost plus margin approach. The recording of assets recognized from the costs to obtain and fulfill customer contracts primarily relate to the deferral of sales commissions on the Company's BEACON AMA software arrangements. The Company's costs incurred to obtain or fulfill a contract with a customer are amortized over the period of benefit of the related revenue. The Company expenses any costs incurred immediately when the amortization period would be one year or less. These costs are recorded within selling, engineering and administration expenses. For the year ended December 31, 2019, the Company elected the following practical expedients: In accordance with Subtopic 340-40 “Other Assets and Deferred Costs - Contracts with Customers,” the Company elected to expense the incremental costs of obtaining a contract when the amortization period for such contracts would have been one year or less. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, and contracts for which it has the right to invoice for services performed. The Company has made an accounting policy election to exclude all taxes by governmental authorities from the measurement of the transaction price.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Note 12 Leases On January 1, 2019, the Company adopted ASU No. 2016-02 and ASU No. 2018-11 using the optional transition method. Under this transition method, comparative periods will continue to be reported in accordance with prior lease guidance under ASC 840 Leases. The Company has elected certain practical expedients permitted under the transition guidance, which, among other things, allows the Company to carry forward historical lease classifications. T he Company rents facilities, equipment and vehicles under operating leases, some of which contain renewal options. Upon inception of a rent agreement, the Company determines whether the arrangement contains a lease based on the unique conditions present. Leases that have a term over a year are recognized on the balance sheet as right-of-use assets and lease liabilities. Right-of-use assets are included in prepaid expenses and other current assets and other assets on the Company’s Consolidated Balance Sheet. Lease liabilities are included in other current liabilities and other long-term liabilities on the Company’s Consolidated Balance Sheet. December 31, 2019 January 1, 2019 (In thousands) Right-of-use assets $ 8,411 $ 10,745 Lease liabilities 8,792 11,087 The Company ’ s operating lease agreements have lease and non-lease components that require payments for common area maintenance, property taxes and insurance. The Company has elected to account for both lease and non-lease components as one lease component. The fixed and in-substance fixed consideration in the Company’s rent agreements constitute operating lease expense that is included in the capitalized right-of-use assets and lease liabilities. The variable and short-term lease expense payments are not included in the present value of the right-of use-assets and lease liabilities on the Consolidated Balance Sheet. The Company’s rent expense is as follows: December 31, 2019 (In thousands) Operating lease expense $ 3,095 Variable and short-term lease expense 270 Rent expense $ 3,364 The Company records right-of-use assets and lease liabilities based upon the present value of lease payments over the expected lease term. The Company’s lease agreements typically do not have implicit interest rates that are readily determinable. As a result, the Company utilizes an incremental borrowing rate that would be incurred to borrow on a collateralized basis over a similar term in a comparable economic environment. As of December 31, 2019 and January 1, 2019, the remaining lease term on the Company’s leases was 4.5 years and 5.3 years, respectively. As of December 31, 2019 and January 1, 2019, the discount rate was 5.0%. December 31, 2019 (In thousands) 2020 $ 2,840 2021 2,279 2022 1,298 2023 1,205 2024 1,245 Thereafter 943 Total future lease payments 9,810 (Present value adjustment) (1,018 ) Present value of future lease payments $ 8,792

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation.
Receivables	Receivables Receivables consist primarily of trade receivables. The Company does not require collateral or other security and evaluates the collectability of its receivables based on a number of factors. An allowance for doubtful accounts is recorded for significant past due receivable balances based on a review of the past due items and the customer's ability and likelihood to pay, as well as applying a historical write-off ratio to the remaining balances. Changes in the Company's allowance for doubtful accounts are as follows: Balance at beginning of year Provision and reserve adjustments Write-offs less recoveries Balance at end of year (In thousands) 2019 $ 360 $ (132 ) $ (4 ) $ 224 2018 $ 387 $ — $ (27 ) $ 360 2017 $ 425 $ 285 $ (323 ) $ 387
Inventories	Inventories Inventories are valued at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company estimates and records provisions for obsolete and excess inventories. Changes to the Company's obsolete and excess inventories reserve are as follows: Balance at beginning of year Net additions charged to earnings Disposals Balance at end of year (In thousands) 2019 $ 4,131 $ 2,663 $ (1,354 ) $ 5,440 2018 $ 3,881 $ 2,195 $ (1,945 ) $ 4,131 2017 $ 3,639 $ 1,295 $ (1,053 ) $ 3,881
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided over the estimated useful lives of the respective assets by the straight-line method. The estimated useful lives of assets are: for land improvements, 15 years; for buildings and improvements, 10 to 39 years; and for machinery and equipment, 3 to 20 years.
Capitalized Software and Hardware	Capitalized Software and Hardware Capitalized internal use software and hardware included in other assets in the Consolidated Balance Sheets were $5.7 million and $5.2 million at December 31, 2019 and 2018, respectively. These amounts are amortized on a straight-line basis over the estimated useful lives of the software and/or hardware, ranging from 1 to 5 years. Amortization expense recognized for the years ending December 31, 2019, 2018 and 2017 was $3.1 million, $3.2 million and $2.8 million, respectively.
Long-Lived Assets	Long-Lived Assets Property, plant and equipment and identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected undiscounted cash flows is less than the carrying value of the related asset or group of assets, a loss is recognized for the difference between the fair value and carrying value of the asset or group of assets.
Intangible Assets	Intangible Assets Intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from 5 to 20 years. The Company does not have any intangible assets deemed to have indefinite lives. Amortization expense recognized for 2019 was $7.2 million compared to $7.5 million in 2018 and $6.8 million in 2017. Amortization expense expected to be recognized is $7.0 million December 31, 2019 December 31, 2018 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization (In thousands) Technologies $ 47,608 $ 27,650 $ 47,647 $ 24,785 Intellectual property 10,000 1,333 10,000 833 Non-compete agreements 572 431 2,322 2,076 Licenses 650 509 650 492 Customer lists 8,023 3,234 8,023 2,623 Customer relationships 25,220 14,730 25,220 12,282 Trade names 9,203 5,226 9,595 4,948 Total intangibles $ 101,276 $ 53,113 $ 103,457 $ 48,039
Goodwill	Goodwill Goodwill is tested for impairment annually during the fourth fiscal quarter or more frequently if an event indicates that the goodwill might be impaired. Potential impairment is identified by comparing the fair value of a reporting unit with its carrying value. No adjustments were recorded to goodwill as a result of these tests during 2019, 2018 and 2017. Goodwill was $71.3 million at December 31, 2019 and 2018.
Warranty and After-Sale Costs	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: Balance at beginning of year Net additions charged to earnings Costs incurred Balance at end of year (In thousands) 2019 $ 4,206 $ 6,616 $ (5,239 ) $ 5,583 2018 $ 3,367 $ 3,274 $ (2,435 ) $ 4,206 2017 $ 2,779 $ 4,081 $ (3,493 ) $ 3,367
Research and Development	Research and Development Research and development costs are charged to expense as incurred and amounted to $11.9 million in 2019, $11.1 million in 2018 and $10.6 million in 2017.
Healthcare	Healthcare The Company estimates and records provisions for healthcare claims incurred but not reported, based on medical cost trend analysis, reviews of subsequent payments made and estimates of unbilled amounts.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Components of accumulated other comprehensive income at December 31, 2019 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ 360 $ 220 $ 580 Other comprehensive loss before reclassifications — (58 ) (58 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax of $16 (97 ) — (97 ) Net current period other comprehensive loss, net (97 ) (58 ) (155 ) Accumulated other comprehensive income $ 263 $ 162 $ 425 Details of reclassifications out of accumulated other comprehensive income during 2019 are as follows: Amount reclassified from accumulated other comprehensive income (loss) (In thousands) Amortization of employee benefit plan items: Actuarial gains and losses (1) $ (639 ) Plan settlement (2) 526 Total before tax (113 ) Income tax impact 16 Amount reclassified out of accumulated other comprehensive income (loss) $ (97 ) (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.” (2) This accumulated other comprehensive income component resulted from an international pension plan settlement. Components of accumulated other compreh ensive (loss) income at December 31, 2018 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ (11,597 ) $ 704 $ (10,893 ) Other comprehensive income (loss) before reclassifications — (484 ) (484 ) Amounts reclassified from accumulated other comprehensive income, net of tax of $(5.1 million) 13,657 — 13,657 Net current period other comprehensive income (loss), net 13,657 (484 ) 13,173 Cumulative impact of adopting ASU 2018-02 (1,700 ) — (1,700 ) Accumulated other comprehensive income $ 360 $ 220 $ 580 Details of reclassifications out of accumulated other comprehensive income (loss) during 2018 are as follows: Amount reclassified from accumulated other comprehensive income (In thousands) Amortization of employee benefit plan items: Prior service cost (1) $ (13 ) Settlement expense (1) 19,900 Actuarial loss (1) (1,103 ) Total before tax 18,784 Income tax impact (5,127 ) Amount reclassified out of accumulated other comprehensive income $ 13,657 (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.”
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) 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.
Fair Value Measurements of Financial Instruments	Fair Value Measurements of Financial Instruments 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. 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 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 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 In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-14 “Compensation Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20),” which modifies the annual disclosure requirements for defined benefit pension and other postretirement benefit plans. This ASU, as modified, added and deleted specific disclosures in an effort to improve the usefulness for financial statement users while also reducing unnecessary costs for companies. The ASU is effective for annual periods beginning after December 15, 2020 with early adoption being permitted in any interim reporting period within the annual reporting period. The Company adopted ASU No. 2018-14 on December 31, 2019 and noted no significant changes. In August 2018, the FASB issued ASU No. 2018-13 “Fair Value Measurement (Topic 820),” which is designed to improve the effectiveness of disclosures related to fair value measurements. This ASU is effective for annual periods beginning after December 15, 2019 and early adoption is allowed in any interim reporting period within the annual reporting period. The Company adopted ASU No. 2018-13 on December 31, 2019 and noted no significant changes. In January 2017, the FASB issued ASU No. 2017-04 “Intangibles - Goodwill and Other (Topic 350).” The update requires a single-step quantitative test to measure potential impairment based on the excess of a reporting unit's carrying amount over its fair value. A qualitative assessment can still be completed first for an entity to determine if a quantitative impairment test is necessary. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2019 and interim periods thereafter. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted ASU No. 2017-04 on January 1, 2019. The adoption of this standard did not have any impact on the Company’s financial statements. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326),” which amends the accounting for credit losses on purchased financial assets and available-for-sale debt securities with credit deterioration. This ASU requires the measurement of all expected credit losses for financial assets, including accounts receivables, held at the reporting date based upon current conditions, historical experience and reasonable forecasts. This ASU is effective for annual reporting periods beginning after December 15, 2019, and early adoption is allowed in any interim reporting period within the annual reporting period. The Company completed an analysis of ASU No. 2016-13 and concluded that the adoption of the standard effective January 1, 2020, will not have a significant impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02 “Leases (Topic 842),” which requires lessees to record most leases on their balance sheets. Lessees initially recognize a lease liability (measured at the present value of the lease payments over the lease term) and a right-of-use asset (measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and the lessee's initial direct costs). Lessees can make an accounting policy election not to recognize ROU assets and lease liabilities for leases with a lease term of 12 months or less as long as the leases do not include options to purchase the underlying assets that the lessee is reasonably certain to exercise. The standard includes the use of a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. Full retrospective application is prohibited. In July 2018, the FASB issued ASU No. 2018-11 “Targeted Improvements (Topic 842).” This ASU provides for an optional method of transition which allows companies to adopt the new leasing standard with a cumulative effect adjustment to reinvested earnings. The Company adopted the new leasing standard with the optional transition methodology as of January 1, 2019. For a complete discussion of the adoption of ASU No. 2016-02 and ASU No. 2018-11, see Note 12 “Leases” in the Notes to Consolidated Financial Statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Changes in Allowance for Doubtful Accounts	Changes in the Company's allowance for doubtful accounts are as follows: Balance at beginning of year Provision and reserve adjustments Write-offs less recoveries Balance at end of year (In thousands) 2019 $ 360 $ (132 ) $ (4 ) $ 224 2018 $ 387 $ — $ (27 ) $ 360 2017 $ 425 $ 285 $ (323 ) $ 387
Schedule of Changes to Obsolete and Excess Inventories Reserve	Changes to the Company's obsolete and excess inventories reserve are as follows: Balance at beginning of year Net additions charged to earnings Disposals Balance at end of year (In thousands) 2019 $ 4,131 $ 2,663 $ (1,354 ) $ 5,440 2018 $ 3,881 $ 2,195 $ (1,945 ) $ 4,131 2017 $ 3,639 $ 1,295 $ (1,053 ) $ 3,881
Schedule of Carrying Value and Accumulated Amortization of Intangible Assets	The carrying value and accumulated amortization by major class of intangible assets are as follows: December 31, 2019 December 31, 2018 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization (In thousands) Technologies $ 47,608 $ 27,650 $ 47,647 $ 24,785 Intellectual property 10,000 1,333 10,000 833 Non-compete agreements 572 431 2,322 2,076 Licenses 650 509 650 492 Customer lists 8,023 3,234 8,023 2,623 Customer relationships 25,220 14,730 25,220 12,282 Trade names 9,203 5,226 9,595 4,948 Total intangibles $ 101,276 $ 53,113 $ 103,457 $ 48,039
Schedule of Changes in Warranty and After-Sale Costs Reserve	Changes in the Company's warranty and after-sale costs reserve are as follows: Balance at beginning of year Net additions charged to earnings Costs incurred Balance at end of year (In thousands) 2019 $ 4,206 $ 6,616 $ (5,239 ) $ 5,583 2018 $ 3,367 $ 3,274 $ (2,435 ) $ 4,206 2017 $ 2,779 $ 4,081 $ (3,493 ) $ 3,367
Schedule of Accumulated Other Comprehensive Income (Loss)	Components of accumulated other comprehensive income at December 31, 2019 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ 360 $ 220 $ 580 Other comprehensive loss before reclassifications — (58 ) (58 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax of $16 (97 ) — (97 ) Net current period other comprehensive loss, net (97 ) (58 ) (155 ) Accumulated other comprehensive income $ 263 $ 162 $ 425 Details of reclassifications out of accumulated other comprehensive income during 2019 are as follows: Amount reclassified from accumulated other comprehensive income (loss) (In thousands) Amortization of employee benefit plan items: Actuarial gains and losses (1) $ (639 ) Plan settlement (2) 526 Total before tax (113 ) Income tax impact 16 Amount reclassified out of accumulated other comprehensive income (loss) $ (97 ) (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.” (2) This accumulated other comprehensive income component resulted from an international pension plan settlement. Components of accumulated other compreh ensive (loss) income at December 31, 2018 are as follows: Pension and postretirement benefits Foreign currency Total (In thousands) Balance at beginning of period $ (11,597 ) $ 704 $ (10,893 ) Other comprehensive income (loss) before reclassifications — (484 ) (484 ) Amounts reclassified from accumulated other comprehensive income, net of tax of $(5.1 million) 13,657 — 13,657 Net current period other comprehensive income (loss), net 13,657 (484 ) 13,173 Cumulative impact of adopting ASU 2018-02 (1,700 ) — (1,700 ) Accumulated other comprehensive income $ 360 $ 220 $ 580 Details of reclassifications out of accumulated other comprehensive income (loss) during 2018 are as follows: Amount reclassified from accumulated other comprehensive income (In thousands) Amortization of employee benefit plan items: Prior service cost (1) $ (13 ) Settlement expense (1) 19,900 Actuarial loss (1) (1,103 ) Total before tax 18,784 Income tax impact (5,127 ) Amount reclassified out of accumulated other comprehensive income $ 13,657 (1) These accumulated other comprehensive loss components are included in the computation of benefit plan costs in Note 7 “Employee Benefit Plans.”

Short-term Debt and Credit Li_2

Short-term Debt and Credit Lines (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Short-Term Debt	Short-term debt at December 31, 2019 and 2018 consisted of: 2019 2018 (In thousands) Notes payable to banks $ 4,480 $ 4,560 Commercial paper — 13,500 Total short-term debt $ 4,480 $ 18,060

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Transactions of Stock Option Plans	The following table summarizes the transactions of the Company’s stock option plans for the three-year period ended December 31, 2019: Number of shares Weighted- average exercise price Options outstanding - December 31, 2016 384,258 $ 23.75 Options granted 55,223 $ 36.75 Options exercised (53,198 ) $ 22.83 Options forfeited — n/a Options outstanding - December 31, 2017 386,283 $ 25.74 Options granted 43,778 $ 48.20 Options modified 80,642 $ 52.44 Options exercised (53,161 ) $ 21.47 Options canceled (80,642 ) $ 37.04 Options forfeited — n/a Options outstanding - December 31, 2018 376,900 $ 28.95 Options granted 34,926 $ 59.44 Options exercised (66,969 ) $ 29.29 Options forfeited (7,525 ) $ 38.81 Options outstanding - December 31, 2019 337,332 $ 31.82 Price range $ 18.08 — $ 19.21 (weighted-average contractual life of 1.7 years) 102,900 $ 18.36 Price range $ 25.65 — $ 33.98 (weighted-average contractual life of 4.7 years) 121,093 $ 28.76 Price range $ 33.98 — $ 59.85 (weighted-average contractual life of 5.3 years) 113,339 $ 46.11 Options outstanding - December 31, 2019 337,332 Exercisable options — December 31, 2017 239,043 $ 21.59 December 31, 2018 321,122 $ 27.16 December 31, 2019 271,252 $ 27.17
Assumptions Used for Valuing Options Granted	The following assumptions were used for valuing options granted in the years ended December 31: 2019 2018 Per share fair value of options granted during the period $ 18.20 $ 18.50 Risk-free interest rate 2.52 % 2.59 % Dividend yield 0.97 % 1.05 % Volatility factor 32.4 % 43.2 % Weighted-average expected life in years 5.3 5.3
Summary of Aggregate Intrinsic Value Related to Options	The following table summarizes the aggregate intrinsic value related to options exercised, outstanding and exercisable as of and for the years ended December 31: 2019 2018 (In thousands) Exercised $ 1,870 $ 1,590 Outstanding $ 11,170 $ 8,390 Exercisable $ 10,243 $ 7,722
Schedule of Fair Value of Nonvested Shares	The fair value of nonvested shares is determined based on the market price of the shares on the grant date. Shares Fair value per share Nonvested at December 31, 2016 105,316 $ 29.41 Granted 50,519 $ 40.69 Vested (40,762 ) $ 27.18 Forfeited (3,600 ) $ 33.37 Nonvested at December 31, 2017 111,473 $ 35.21 Granted 32,268 $ 49.10 Modified 30,488 $ 52.47 Vested (68,289 ) $ 40.16 Canceled (30,488 ) $ 38.62 Forfeited (2,650 ) $ 36.83 Nonvested at December 31, 2018 72,802 $ 42.58 Granted 16,034 $ 59.42 Vested (19,227 ) $ 30.08 Forfeited (5,129 ) $ 41.31 Nonvested at December 31, 2019 64,480 $ 48.21

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Schedule of Amounts Not Yet Recognized In Net Periodic Benefit Cost	Amounts included in accumulated other comprehensive income (loss), net of tax, at December 31, 2019 that have not yet been recognized in net periodic benefit cost are as follows: Pension plans Other postretirement benefits (In thousands) Net actuarial loss (gain) $ 28 $ (289 )
Components of Net Periodic Pension/Postretirement Benefit Cost	The following table sets forth the components of net periodic pension cost for the years ended December 31, 2018 and 2017 based on a December 31 measurement date: 2018 2017 (In thousands) Service cost - benefits earned during the year $ — $ 2 Interest cost on projected benefit obligations 305 1,228 Expected return on plan assets (835 ) (1,596 ) Amortization of net loss 262 525 Settlement expense 19,900 641 Net periodic pension cost $ 19,632 $ 800 2019 2018 2017 (In thousands) Service cost, benefits attributed for service of active employees for the period $ 103 $ 124 $ 121 Interest cost on the accumulated postretirement benefit obligation 210 189 195 Amortization of actuarial gain (117 ) (30 ) (49 ) Amortization of prior service credit — (13 ) (25 ) Net periodic postretirement benefit cost $ 196 $ 270 $ 242
Schedule of Actuarial Assumptions	Actuarial assumptions used in the determination of the net periodic pension cost are: 2018 2017 Discount rate 2.00 % 3.90 % Expected long-term return on plan assets 3.00 % 4.00 % Rate of compensation increase n/a n/a
Reconciliation of Benefit Obligations, Plan Assets and Funded Status	The following table provides a reconciliation of benefit obligations, plan assets and funded status based on a December 31 measurement date: 2018 (In thousands) Change in benefit obligation: Benefit obligation at beginning of plan year $ 42,898 Service cost — Interest cost 305 Actuarial loss (198 ) Benefits paid (43,005 ) Projected benefit obligation at measurement date $ — Change in plan assets: Fair value of plan assets at beginning of plan year $ 41,517 Actual return on plan assets (1,375 ) Company contribution 2,860 Benefits paid (43,002 ) Fair value of plan assets at measurement date $ — Funded status of the plan: Benefit obligation in excess of plan assets $ — Benefit plan assets in excess of benefit obligation — Pension liability $ —
Reconciliation of Projected Benefit Obligation	The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date: 2019 2018 (In thousands) Benefit obligation at beginning of year $ 5,551 $ 6,073 Service cost 103 124 Interest cost 210 189 Actuarial gain 657 (511 ) Plan participants' contributions 532 547 Benefits paid (978 ) (871 ) Benefit obligation and funded status at end of year $ 6,075 $ 5,551
Schedule of Amounts Recognized in Consolidated Balance Sheets	The amounts recognized in the Consolidated Balance Sheets at December 31 are: 2019 2018 (In thousands) Accrued compensation and employee benefits $ 364 $ 367 Accrued non-pension postretirement benefits 5,711 5,184 Amounts recognized at December 31 $ 6,075 $ 5,551

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Details of Earnings Before Income Taxes	Details of earnings before income taxes are as follows: 2019 2018 2017 (In thousands) Domestic $ 62,639 $ 31,584 $ 52,745 Foreign (1,032 ) 4,268 2,088 Total $ 61,607 $ 35,852 $ 54,833
Schedule of Provision (Benefit) for Income Taxes	The provision (benefit) for income taxes is as follows: 2019 2018 2017 (In thousands) Current: Federal $ 12,113 $ 9,223 $ 20,553 State 2,591 2,640 2,933 Foreign 1,250 1,468 876 Deferred: Federal (1,066 ) (2,890 ) (3,051 ) State 417 (1,765 ) (915 ) Foreign (875 ) (614 ) (134 ) Total $ 14,430 $ 8,062 $ 20,262
Reconciliation of Provision for Income Taxes	The provision for income tax differs from the amount that would be provided by applying the statutory U.S. corporate income tax rate in each year due to the following items: 2019 2018 2017 (In thousands) Provision at statutory rate $ 12,938 $ 7,529 $ 19,192 State income taxes, net of federal tax benefit 2,080 717 1,292 Valuation allowance 515 — 564 Foreign - tax rate differential and other 70 159 29 Domestic production activities deduction — — (721 ) Federal tax credits (609 ) (742 ) (542 ) Compensation subject to section 162(m) 66 562 — Stock based compensation (253 ) (384 ) — Tax rate difference on temporary adjustments — (460 ) — Other (377 ) 681 448 Actual provision $ 14,430 $ 8,062 $ 20,262
Components of Deferred Income Taxes	The components of deferred income taxes as of December 31 are as follows: 2019 2018 (In thousands) Deferred tax assets: Reserve for receivables and inventories $ 2,108 $ 2,210 Accrued compensation 888 929 Payables 1,410 1,090 Non-pension postretirement benefits 1,505 1,110 Net operating loss and credit carryforwards 1,401 308 Accrued pension benefits 933 1,552 Accrued employee benefits 1,747 2,534 Deferred revenue 2,219 1,858 Operating lease liabilities 1,861 — Other 497 — Total gross deferred tax assets 14,569 11,591 Less: valuation allowance (863 ) (366 ) Total net deferred tax assets 13,706 11,225 Deferred tax liabilities: Depreciation 4,673 4,679 Amortization 6,158 7,146 Prepaids 529 517 Operating lease assets 1,850 — Other 630 52 Total deferred tax liabilities 13,840 12,394 Net deferred tax liabilities $ (134 ) $ (1,169 )
Schedule of Changes in Gross Liability for Unrecognized Tax Benefits	Changes in the Company's gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows: 2019 2018 (In thousands) Balance at beginning of year $ 1,121 $ 998 Increases in unrecognized tax benefits as a result of positions taken during the prior year 88 127 Increases in unrecognized tax benefits as a result of positions taken during the current year 235 190 Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations (279 ) (194 ) Balance at end of year $ 1,165 $ 1,121

Industry Segment and Geograph_2

Industry Segment and Geographic Areas (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Information Regarding Revenues and Assets by Geographic Area	Information regarding revenues by geographic area is as follows: 2019 2018 2017 (In thousands) Revenues: United States $ 369,163 $ 374,650 $ 355,768 Foreign: Asia 9,111 9,081 9,133 Canada 13,568 11,893 10,407 Europe 15,784 20,147 15,718 Mexico 5,791 3,603 3,601 Middle East 7,868 11,318 4,904 Other 3,340 3,040 2,909 Total $ 424,625 $ 433,732 $ 402,440 Information regarding assets by geographic area is as follows: 2019 2018 (In thousands) Long-lived assets: United States $ 51,539 $ 54,904 Foreign: Europe 14,768 15,247 Mexico 19,454 20,170 Total $ 85,761 $ 90,321 2019 2018 (In thousands) Total assets: United States $ 326,248 $ 293,943 Foreign: Europe 72,296 74,707 Mexico 23,349 24,041 Total $ 421,893 $ 392,691

Unaudited_ Quarterly Results _2

Unaudited: Quarterly Results of Operations, Common Stock Price and Dividends (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarter ended March 31 June 30 September 30 December 31 (In thousands except per share data) 2019 Net sales $ 104,881 $ 103,542 $ 108,646 $ 107,556 Gross margin $ 40,457 $ 40,276 $ 41,670 $ 41,125 Net earnings $ 10,824 $ 11,358 $ 12,721 $ 12,274 Earnings per share: Basic $ 0.37 $ 0.39 $ 0.44 $ 0.42 Diluted $ 0.37 $ 0.39 $ 0.44 $ 0.42 Dividends declared $ 0.15 $ 0.15 $ 0.17 $ 0.17 Stock price: High $ 61.57 $ 60.28 $ 60.52 $ 66.64 Low $ 47.59 $ 51.56 $ 49.66 $ 50.67 Quarter-end close $ 55.64 $ 59.69 $ 53.70 $ 64.93 2018 Net sales $ 105,041 $ 113,648 $ 110,630 $ 104,413 Gross margin $ 36,748 $ 41,504 $ 43,946 $ 40,151 Net earnings $ 7,546 $ 6,154 $ 2,851 $ 11,239 Earnings per share: Basic $ 0.26 $ 0.21 $ 0.10 $ 0.39 Diluted $ 0.26 $ 0.21 $ 0.10 $ 0.39 Dividends declared $ 0.13 $ 0.13 $ 0.15 $ 0.15 Stock price: High $ 51.05 $ 47.25 $ 56.40 $ 57.12 Low $ 45.45 $ 41.00 $ 50.75 $ 46.70 Quarter-end close $ 47.15 $ 44.70 $ 52.95 $ 49.21

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue	Information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows: December 31, (In thousands) 2019 2018 Revenue recognized over time $ 16,146 $ 12,943 Revenue recognized at a point in time 408,479 420,789 Total $ 424,625 $ 433,732
Contract with Customer, Liability and Receivables	The opening and closing balances of the Company's receivables and contract liabilities are as follows: December 31, (In thousands) 2019 2018 Receivables $ 61,365 $ 66,300 Contract liabilities 20,143 15,793

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Right-of-Use Assets and the Corresponding Lease Liabilities	Information regarding the Company's right-of-use assets and the corresponding lease liabilities are as follows: December 31, 2019 January 1, 2019 (In thousands) Right-of-use assets $ 8,411 $ 10,745 Lease liabilities 8,792 11,087
Schedule of Rent Expenses	The Company’s rent expense is as follows: December 31, 2019 (In thousands) Operating lease expense $ 3,095 Variable and short-term lease expense 270 Rent expense $ 3,364
Schedule of Future Minimum Lease Payments to be Paid under Operating Leases	The future minimum lease payments to be paid under operating leases are as follows: December 31, 2019 (In thousands) 2020 $ 2,840 2021 2,279 2022 1,298 2023 1,205 2024 1,245 Thereafter 943 Total future lease payments 9,810 (Present value adjustment) (1,018 ) Present value of future lease payments $ 8,792

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Profile - Narrative (Details)	12 Months Ended
	Dec. 31, 2019Product_line
Accounting Policies [Abstract]
Number of product lines	2
Percentage of products used in water and water related applications (as a percent)	90.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable
Balance at beginning of year	$ 360	$ 387	$ 425
Provision and reserve adjustments	(132)		285
Write-offs less recoveries	(4)	(27)	(323)
Balance at end of year	$ 224	$ 360	$ 387

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Changes to Obsolete and Excess Inventories Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Obsolete Inventory Reserve
Balance at beginning of year	$ 4,131	$ 3,881	$ 3,639
Net additions charged to earnings	2,663	2,195	1,295
Disposals	(1,354)	(1,945)	(1,053)
Balance at end of year	$ 5,440	$ 4,131	$ 3,881

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Property, Plant and Equipment - Narrative (Details)	12 Months Ended
	Dec. 31, 2019
Land Improvements
Property, Plant and Equipment
Estimated useful lives	15 years
Minimum | Building and Improvements
Property, Plant and Equipment
Estimated useful lives	10 years
Minimum | Machinery and Equipment
Property, Plant and Equipment
Estimated useful lives	3 years
Maximum | Building and Improvements
Property, Plant and Equipment
Estimated useful lives	39 years
Maximum | Machinery and Equipment
Property, Plant and Equipment
Estimated useful lives	20 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Capitalized Software and Hardware - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment
Amortization expense	$ 3.1	$ 3.2	$ 2.8
Prepaid Expenses and Other Current Assets
Property, Plant and Equipment
Capitalized internal use software and hardware	$ 5.7	$ 5.2
Minimum
Property, Plant and Equipment
Amortization period	1 year
Maximum
Property, Plant and Equipment
Amortization period	5 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Amortization expense recognized	$ 7.2	$ 7.5	$ 6.8
Amortization expense expected to be recognized, 2020	7
Amortization expense expected to be recognized, 2021	7
Amortization expense expected to be recognized, 2022	5.9
Amortization expense expected to be recognized, 2023	5.4
Amortization expense expected to be recognized, 2024	5.3
Amortization expense expected to be recognized, thereafter	$ 17.6
Minimum
Finite-Lived Intangible Assets
Estimated useful lives	5 years
Maximum
Finite-Lived Intangible Assets
Estimated useful lives	20 years

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Schedule of Carrying Value and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets
Gross carrying amount	$ 101,276	$ 103,457
Accumulated amortization	53,113	48,039
Technologies
Finite-Lived Intangible Assets
Gross carrying amount	47,608	47,647
Accumulated amortization	27,650	24,785
Intellectual property
Finite-Lived Intangible Assets
Gross carrying amount	10,000	10,000
Accumulated amortization	1,333	833
Non-compete agreements
Finite-Lived Intangible Assets
Gross carrying amount	572	2,322
Accumulated amortization	431	2,076
Licenses
Finite-Lived Intangible Assets
Gross carrying amount	650	650
Accumulated amortization	509	492
Customer lists
Finite-Lived Intangible Assets
Gross carrying amount	8,023	8,023
Accumulated amortization	3,234	2,623
Customer relationships
Finite-Lived Intangible Assets
Gross carrying amount	25,220	25,220
Accumulated amortization	14,730	12,282
Trade names
Finite-Lived Intangible Assets
Gross carrying amount	9,203	9,595
Accumulated amortization	$ 5,226	$ 4,948

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Goodwill - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0
Goodwill	$ 71,258,000	$ 71,258,000

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Schedule of Changes in Warranty and After-Sale Costs Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Warranty and After-Sale Costs
Balance at beginning of year	$ 4,206	$ 3,367	$ 2,779
Net additions charged to earnings	6,616	3,274	4,081
Costs incurred	(5,239)	(2,435)	(3,493)
Balance at end of year	$ 5,583	$ 4,206	$ 3,367

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Research and Development - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Research and development costs	$ 11.9	$ 11.1	$ 10.6

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 303,503	$ 277,452
Other comprehensive loss before reclassifications	(58)	(484)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(97)	13,657
Net current period other comprehensive income (loss), net	(155)	13,173
Balance at end of period	331,068	303,503
Amounts reclassified from accumulated other comprehensive loss, tax	16	(5,100)
Accounting Standards Update 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Cumulative impact of adopting ASU 2018-02		(1,700)
Pension and postretirement benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	360	(11,597)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(97)	13,657
Net current period other comprehensive income (loss), net	(97)	13,657
Balance at end of period	263	360
Amounts reclassified from accumulated other comprehensive loss, tax	16	(5,127)
Pension and postretirement benefits | Accounting Standards Update 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Cumulative impact of adopting ASU 2018-02		(1,700)
Foreign currency
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	220	704
Other comprehensive loss before reclassifications	(58)	(484)
Net current period other comprehensive income (loss), net	(58)	(484)
Balance at end of period	162	220
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	580	(10,893)
Balance at end of period	$ 425	580
Accumulated other comprehensive income (loss) | Accounting Standards Update 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Cumulative impact of adopting ASU 2018-02		$ 1,700

Summary of Significant Accou_15

Summary of Significant Accounting Policies - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Amortization of employee benefit plan items:
Amounts reclassified from accumulated other comprehensive loss, tax	$ 16	$ (5,100)
Amount reclassified out of accumulated other comprehensive income (loss)	(97)	13,657
Plan settlement
Amortization of employee benefit plan items:
Total before tax	526
Amount reclassified out of accumulated other comprehensive loss
Amortization of employee benefit plan items:
Total before tax	(113)	18,784
Amounts reclassified from accumulated other comprehensive loss, tax	16	(5,127)
Amount reclassified out of accumulated other comprehensive income (loss)	(97)	13,657
Prior service cost
Amortization of employee benefit plan items:
Total before tax		(13)
Settlement expense
Amortization of employee benefit plan items:
Total before tax		19,900
Actuarial loss
Amortization of employee benefit plan items:
Total before tax	$ (639)	$ (1,103)

Common Stock (Details)

Common Stock (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares issued (in shares)	37,200,698	37,198,298
Common stock, shares, outstanding	37,200,698	37,198,298
Common share purchase rights plan, expiration date	May 26, 2018
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive stock options excluded from computation of earnings per share (in shares)	54,139	21,887	55,223

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Apr. 02, 2018	Nov. 01, 2017	May 01, 2017	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Business Acquisition
Goodwill				$ 71,258	$ 71,258
Innovative Metering Solutions, Inc.
Business Acquisition
Outstanding common stock acquired (as a percent)	100.00%
Total purchase consideration	$ 12,000
Cash payment	7,700
Working capital adjustment	300
Balance sheet holdback	700
Pre-existing receivables acquired	$ 3,300
Receivables						$ 3,800
Inventory						800
Machinery and equipment						100
Intangibles						3,600
Goodwill						$ 3,700
Innovative Metering Solutions, Inc. | Customer Relationships
Business Acquisition
Estimated average useful life	10 years
Carolina Meter
Business Acquisition
Total purchase consideration		$ 6,300
Cash payment		2,100
Pre-existing receivables acquired		4,200
Receivables		600
Inventory		200
Intangibles		3,300
Goodwill		$ 2,200
Carolina Meter | Customer Relationships
Business Acquisition
Estimated average useful life		12 years
D-Flow
Business Acquisition
Outstanding common stock acquired (as a percent)			100.00%
Cash payment			$ 23,200	2,000	$ 2,000
Receivables			300
Inventory			600
Machinery and equipment			200
Intangibles			10,900
Goodwill			16,100
Contingent payments				$ 1,000
Liabilities assumed as part of the acquisition			$ 4,900

Short-term Debt and Credit Li_3

Short-term Debt and Credit Lines - Schedule of Short-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt
Short-term debt	$ 4,480	$ 18,060
Notes payable to banks
Short-term Debt
Short-term debt	$ 4,480	4,560
Commercial paper
Short-term Debt
Short-term debt		$ 13,500

Short-term Debt and Credit Li_4

Short-term Debt and Credit Lines - Narrative (Details)	1 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)
Line of Credit Facility
Maximum amount issuable	$ 70,000,000
Unused credit lines available		$ 125,000,000
Line of Credit
Line of Credit Facility
Maximum borrowing capacity	$ 125,000,000
Interest rate (as a percent)				3.11%	3.11%
Line of credit extended Period	2021-09
Foreign Line of Credit
Line of Credit Facility
Maximum amount issuable	$ 5,000,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility
Maximum borrowing capacity		128,300,000
Revolving Credit Facility | Euro-Based Revolving Loan Facility
Line of Credit Facility
Revolving loan facility		$ 4,500,000		$ 4,600,000
Maximum borrowing capacity | €			€ 4,000,000		€ 4,000,000
Interest rate (as a percent)		1.50%	1.50%	1.14%	1.14%

Stock Compensation - Additional

Stock Compensation - Additional Information - Narrative (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	502,839	548,653
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserve for future issuance (in shares)	1,400,000

Stock Compensation - Stock Opti

Stock Compensation - Stock Options - Narrative (Details) - Stock Options - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 0.3	$ 2.1	$ 0.7
Unrecognized compensation cost related to stock options	$ 0.9
Weighted average period	2 years 6 months

Stock Compensation - Summary of

Stock Compensation - Summary of Transactions of Stock Option Plans (Details) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Weighted-average exercise price
Options granted (in dollars per share)	$ 18.20	$ 18.50
Omnibus Incentive Plan
Number of shares
Beginning balance (in shares)	376,900	386,283	384,258
Options granted (in shares)	34,926	43,778	55,223
Options modified (in shares)		80,642
Options exercised (in shares)	(66,969)	(53,161)	(53,198)
Options canceled (ins shares)		(80,642)
Options forfeited (in shares)	(7,525)	0	0
Ending balance (in shares)	337,332	376,900	386,283
Exercisable options (in shares)		271,252	321,122	239,043
Weighted-average exercise price
Beginning balance (in dollars per share)	$ 28.95	$ 25.74	$ 23.75
Options granted (in dollars per share)	59.44	48.20	36.75
Options modified (in dollars per share)		52.44
Options exercised (in dollars per share)	29.29	21.47	22.83
Options canceled (in dollars per share)		37.04
Options forfeited (in dollars per share)	38.81
Ending balance (in dollars per share)	31.82	28.95	25.74
Exercisable options (in dollars per share)	$ 27.17	$ 27.16	$ 21.59
Omnibus Incentive Plan | Price range $ 18.08 — $ 19.21
Number of shares
Ending balance (in shares)	102,900
Weighted-average exercise price
Ending balance (in dollars per share)	$ 18.36
Price range - minimum (in dollars per share)	18.08
Price range - maximum (in dollars per share)	$ 19.21
Weighted-average contractual life (in years)	1 year 8 months 12 days
Omnibus Incentive Plan | Price range $ 19.30 — $ 28.33
Number of shares
Ending balance (in shares)	121,093
Weighted-average exercise price
Ending balance (in dollars per share)	$ 28.76
Price range - minimum (in dollars per share)	25.65
Price range - maximum (in dollars per share)	$ 33.98
Weighted-average contractual life (in years)	4 years 8 months 12 days
Omnibus Incentive Plan | Price range $ 28.34 — $ 48.20
Number of shares
Ending balance (in shares)	113,339
Weighted-average exercise price
Ending balance (in dollars per share)	$ 46.11
Price range - minimum (in dollars per share)	33.98
Price range - maximum (in dollars per share)	$ 59.85
Weighted-average contractual life (in years)	5 years 3 months 18 days

Stock Compensation - Assumption

Stock Compensation - Assumptions Used for Valuing Options Granted (Details) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per share fair value of options granted during the period (in dollars per share)	$ 18.20	$ 18.50
Risk-free interest rate	2.52%	2.59%
Dividend yield (as a percentage)	0.97%	1.05%
Volatility factor (as a percentage)	32.40%	43.20%
Weighted-average expected life in years	5 years 3 months 18 days	5 years 3 months 18 days

Stock Compensation - Summary _2

Stock Compensation - Summary of Aggregate Intrinsic Value Related to Options (Details) - Omnibus Incentive Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised	$ 1,870	$ 1,590
Outstanding	11,170	8,390
Exercisable	$ 10,243	$ 7,722

Stock Compensation - Director S

Stock Compensation - Director Stock Grant - Narrative (Details) - Restricted Shares - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining recognition period	1 year 8 months 12 days
Unrecognized compensation cost	$ 1,700,000
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual restricted shares award (in shares)	57,000
Total stock compensation expense recognized	$ 300,000	$ 500,000	$ 500,000
Remaining recognition period	3 months
Unrecognized compensation cost	$ 100,000

Stock Compensation - Restricted

Stock Compensation - Restricted Stock - Narrative (Details) - Restricted Stock - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested stock compensation expense	$ 0.9	$ 2.1	$ 1.1
Unrecognized compensation cost related to restricted stock	$ 1.7
Weighted average period	1 year 8 months 12 days

Stock Compensation - Schedule o

Stock Compensation - Schedule of Fair Value of Nonvested Shares (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares
Beginning Balance (in shares)	72,802	111,473	105,316
Granted (in shares)	16,034	32,268	50,519
Modified (in shares)		30,488
Vested (in shares)	(19,227)	(68,289)	(40,762)
Canceled (in shares)		(30,488)
Forfeited (in shares)	(5,129)	(2,650)	(3,600)
Ending Balance (in shares)	64,480	72,802	111,473
Fair value per share
per share	$ 42.58	$ 35.21	$ 29.41
Granted (in dollars per share)	59.42	49.10	40.69
Modified (in dollars per share)		52.47
Vested (in dollars per share)	30.08	40.16	27.18
Canceled (in dollars per share)		38.62
Forfeited (in dollars per share)	41.31	36.83	33.37
Ending balance (in dollars per share)	$ 48.21	$ 42.58	$ 35.21

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Total rental expense charged to operations	$ 3,364	$ 3,700	$ 3,600

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Amounts Not Yet Recognized In Net Periodic Benefit Cost (Details) $ in Thousands	Dec. 31, 2019USD ($)
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Net actuarial loss (gain)	$ 28
Other postretirement benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Net actuarial loss (gain)	$ (289)

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Pension/Postretirement Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Settlement expense		$ 19,900
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year			$ 2
Interest cost on projected benefit obligations		305	1,228
Expected return on plan assets		(835)	(1,596)
Amortization of net loss		262	525
Settlement expense		19,900	641
Net periodic pension/postretirement benefit cost		19,632	800
Other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 103	124	121
Interest cost on projected benefit obligations	210	189	195
Amortization of actuarial gain	(117)	(30)	(49)
Amortization of prior service credit		(13)	(25)
Net periodic pension/postretirement benefit cost	$ 196	$ 270	$ 242

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Actuarial Assumptions (Details) - Pension plans	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans
Net periodic pension cost, Discount rate (as a percent)	2.00%	3.90%
Expected long-term return on plan assets (as a percent)	3.00%	4.00%

Employee Benefit Plans - Reconc

Employee Benefit Plans - Reconciliation of Benefit Obligations, Plan Assets and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension plans
Change in benefit obligation:
Benefit obligation at beginning of plan year		$ 42,898
Service cost			$ 2
Interest cost		305	1,228
Actuarial loss		(198)
Benefits paid		(43,005)
Projected benefit obligation at measurement date			42,898
Change in plan assets:
Fair value of plan assets at beginning of plan year	$ 0	41,517
Actual return on plan assets		(1,375)
Company contribution		2,860
Benefits paid		(43,002)
Fair value of plan assets at measurement date	0	0	41,517
Other postretirement benefits
Change in benefit obligation:
Benefit obligation at beginning of plan year	5,551	6,073
Service cost	103	124	121
Interest cost	210	189	195
Actuarial loss	657	(511)
Plan participants' contributions	532	547
Benefits paid	(978)	(871)
Projected benefit obligation at measurement date	$ 6,075	$ 5,551	$ 6,073

Employee Benefit Plans - Qualif

Employee Benefit Plans - Qualified Pension Plan - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Fair value of qualified plan assets	$ 0	$ 0	$ 41,517

Employee Benefit Plans - Supple

Employee Benefit Plans - Supplemental Non-qualified Unfunded Plans - Narrative (Details) - Other postretirement benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net periodic pension cost, Discount rate (as a percent)	4.33%	3.65%	4.16%
Officers and Key Employees
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net periodic pension cost, Discount rate (as a percent)	2.86%	2.16%	1.91%
Amount accrued	$ 0.5	$ 2.3

Employee Benefit Plans - Other

Employee Benefit Plans - Other Postretirement Benefits - Narrative (Details) - Other postretirement benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Discount rate used to measure net periodic benefit cost	4.33%	3.65%	4.16%
Discount rate used to measure accumulated postretirement benefit obligation	3.19%	4.33%
Estimated future benefit payments 2020	$ 0.4
Estimated future benefit payments 2021	0.4
Estimated future benefit payments 2022	0.4
Estimated future benefit payments 2023	0.4
Estimated future benefit payments 2024	0.4
Estimated future benefit payments, five years thereafter	$ 2

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of Amounts Recognized in Consolidated Balance Sheets (Details) - Other postretirement benefits - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans
Amounts recognized at December 31	$ 6,075	$ 5,551
Accrued compensation and employee benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Amounts recognized at December 31	364	367
Accrued non-pension postretirement benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
Amounts recognized at December 31	$ 5,711	$ 5,184

Employee Benefit Plans - Badger

Employee Benefit Plans - Badger Meter Employee Savings and Stock Ownership Plan - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Pretax income allowed to be deferred (as a percent)	20.00%
Company match (as a percent)	25.00%
Maximum match of employee's salary (as a percent)	7.00%
Compensation expense	$ 0.6	$ 0.5	$ 0.5
Defined Contribution Feature
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Compensation expense	$ 3.1	$ 3

Income Taxes - Details of Earni

Income Taxes - Details of Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 62,639	$ 31,584	$ 52,745
Foreign	(1,032)	4,268	2,088
Earnings before income taxes	$ 61,607	$ 35,852	$ 54,833

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 12,113	$ 9,223	$ 20,553
State	2,591	2,640	2,933
Foreign	1,250	1,468	876
Deferred:
Federal	(1,066)	(2,890)	(3,051)
State	417	(1,765)	(915)
Foreign	(875)	(614)	(134)
Provision for income taxes	$ 14,430	$ 8,062	$ 20,262

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Provision at statutory rate	$ 12,938	$ 7,529	$ 19,192
State income taxes, net of federal tax benefit	2,080	717	1,292
Valuation allowance	515		564
Foreign - tax rate differential and other	70	159	29
Domestic production activities deduction			(721)
Federal tax credits	(609)	(742)	(542)
Compensation subject to section 162(m)	66	562
Stock based compensation	(253)	(384)
Tax rate difference on temporary adjustments		(460)
Other	(377)	681	448
Provision for income taxes	$ 14,430	$ 8,062	$ 20,262

Income Taxes - Components of De

Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Reserve for receivables and inventories	$ 2,108	$ 2,210
Accrued compensation	888	929
Payables	1,410	1,090
Non-pension postretirement benefits	1,505	1,110
Net operating loss and credit carryforwards	1,401	308
Accrued pension benefits	933	1,552
Accrued employee benefits	1,747	2,534
Deferred revenue	2,219	1,858
Operating lease liabilities	1,861
Other	497
Total gross deferred tax assets	14,569	11,591
Less: valuation allowance	(863)	(366)
Total net deferred tax assets	13,706	11,225
Deferred tax liabilities:
Depreciation	4,673	4,679
Amortization	6,158	7,146
Prepaids	529	517
Operating lease assets	1,850
Other	630	52
Total deferred tax liabilities	13,840	12,394
Net deferred tax liabilities	$ (134)	$ (1,169)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Tax Credit Carryforward [Line Items]
Valuation allowance against a deferred tax asset related to net operating loss	$ 863,000	$ 366,000
Provision for federal income taxes	0
Undistributed earnings	22,100,000
Tansition tax provisions and other provisions of the internal revenue code	22,700,000
Accrued interest (approximate)	100,000	100,000
Penalties accrued	0	$ 0
German
Tax Credit Carryforward [Line Items]
Valuation allowance against a deferred tax asset related to net operating loss	500,000
State Tax Credits
Tax Credit Carryforward [Line Items]
Remaining tax credit carryforward	$ 400,000

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Changes in Gross Liability for Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 1,121	$ 998
Increases in unrecognized tax benefits as a result of positions taken during the prior year	88	127
Increases in unrecognized tax benefits as a result of positions taken during the current year	235	190
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(279)	(194)
Balance at end of year	$ 1,165	$ 1,121

Industry Segment and Geograph_3

Industry Segment and Geographic Areas - Narrative (Details)	12 Months Ended
	Dec. 31, 2019segment
Segment Reporting [Abstract]
Number of segments	1

Industry Segment and Geograph_4

Industry Segment and Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 107,556	$ 108,646	$ 103,542	$ 104,881	$ 104,413	$ 110,630	$ 113,648	$ 105,041	$ 424,625	$ 433,732	$ 402,440
Long-lived assets	85,761				90,321				85,761	90,321
Total assets	421,893				392,691				421,893	392,691
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									369,163	374,650	355,768
Long-lived assets	51,539				54,904				51,539	54,904
Total assets	326,248				293,943				326,248	293,943
Asia
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									9,111	9,081	9,133
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									13,568	11,893	10,407
Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									15,784	20,147	15,718
Long-lived assets	14,768				15,247				14,768	15,247
Total assets	72,296				74,707				72,296	74,707
Mexico
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									5,791	3,603	3,601
Long-lived assets	19,454				20,170				19,454	20,170
Total assets	$ 23,349				$ 24,041				23,349	24,041
Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									7,868	11,318	4,904
Other
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues									$ 3,340	$ 3,040	$ 2,909

Unaudited_ Quarterly Results _3

Unaudited: Quarterly Results of Operations, Common Stock Price and Dividends (Details) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)Stockholder$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)Stockholder$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Mar. 31, 2018USD ($)$ / shares	Dec. 31, 2019USD ($)Stockholder$ / shares	Dec. 31, 2018USD ($)Stockholder$ / shares	Dec. 31, 2017USD ($)$ / shares
Net sales | $	$ 107,556	$ 108,646	$ 103,542	$ 104,881	$ 104,413	$ 110,630	$ 113,648	$ 105,041	$ 424,625	$ 433,732	$ 402,440
Gross margin | $	41,125	41,670	40,276	40,457	40,151	43,946	41,504	36,748	163,528	162,349	155,746
Net earnings | $	$ 12,274	$ 12,721	$ 11,358	$ 10,824	$ 11,239	$ 2,851	$ 6,154	$ 7,546	$ 47,177	$ 27,790	$ 34,571
Earnings per share:
Basic	$ 0.42	$ 0.44	$ 0.39	$ 0.37	$ 0.39	$ 0.10	$ 0.21	$ 0.26	$ 1.63	$ 0.96	$ 1.20
Diluted	0.42	0.44	0.39	0.37	0.39	0.10	0.21	0.26	1.61	0.95	1.19
Dividends declared	0.17	0.17	0.15	0.15	0.15	0.15	0.13	0.13	0.64	0.56	$ 0.49
Stock price	$ 64.93	53.70	59.69	55.64	$ 49.21	52.95	44.70	47.15	$ 64.93	$ 49.21
Number of shareholders | Stockholder	790				906				790	906
High
Earnings per share:
Stock price	$ 66.64	60.52	60.28	61.57	$ 57.12	56.40	47.25	51.05	$ 66.64	$ 57.12
Low
Earnings per share:
Stock price	$ 50.67	$ 49.66	$ 51.56	$ 47.59	$ 46.70	$ 50.75	$ 41	$ 45.45	$ 50.67	$ 46.70

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 107,556	$ 108,646	$ 103,542	$ 104,881	$ 104,413	$ 110,630	$ 113,648	$ 105,041	$ 424,625	$ 433,732	$ 402,440
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues									16,146	12,943
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenues									$ 408,479	$ 420,789

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Receivables	$ 61,365	$ 66,300
Contract liabilities	$ 20,143	$ 15,793

Revenue Recognition - Narrative

Revenue Recognition - Narrative 2 (Details) - Consolidated Sales - Product Concentration Risk	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue recognized at a point in time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	96.20%	97.00%
Revenue recognized over time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	3.80%	3.00%

Revenue Recognition - Narrati_2

Revenue Recognition - Narrative 3 (Details) $ in Millions	Dec. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 20.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 4.5
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 7.6
Expected timing of performance obligation satisfaction, period	1 year

Revenue Recognition - Narrati_3

Revenue Recognition - Narrative 3 (Details 1) $ in Millions	Dec. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 20.1

Revenue Recognition - Narrati_4

Revenue Recognition - Narrative 4 (Details)	Dec. 31, 2019
Maximum
Capitalized Contract Cost [Line Items]
Contract cost amortization period	1 year

Revenue Recognition - Narrati_5

Revenue Recognition - Narrative 5 (Details)	12 Months Ended
	Dec. 31, 2019
Revenue Practical Expedient [Abstract]
Revenue of practical expedient elected from reporting period	true
Revenue practical expedient incremental cost	true
Revenue practical expedient financing component	true

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Operating leases, practical expedient	true
Operating leases, remaining lease term	4 years 6 months	5 years 3 months 18 days
Operating leases, discount rate	5.00%	5.00%

Leases - Schedule of Right-of-U

Leases - Schedule of Right-of-Use Assets and the Corresponding Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Right-of-use assets	$ 8,411	$ 10,745
Lease liabilities	$ 8,792	$ 11,087

Leases - Schedule of Rent Expen

Leases - Schedule of Rent Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating lease expense	$ 3,095
Variable and short-term lease expense	270
Rent expense	$ 3,364	$ 3,700	$ 3,600

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments to be Paid under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2020	$ 2,840
2021	2,279
2022	1,298
2023	1,205
2024	1,245
Thereafter	943
Total future lease payments	9,810
(Present value adjustment)	(1,018)
Present value of future lease payments	$ 8,792	$ 11,087