NN (NNBR) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	NNBR
Entity Registrant Name	NN INC
Entity Central Index Key	918541
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,139,212

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net sales	$163,746	$102,528
Cost of products sold (exclusive of depreciation and amortization shown separately below)	129,317	80,283
Selling, general and administrative	12,001	10,030
Depreciation and amortization	8,494	3,877
Income from operations	13,934	8,338
Interest expense	5,938	564
Other expense net	1,400	83
Income before provision for income taxes and share of net income from joint venture	6,596	7,691
Provision for income taxes	1,456	2,453
Share of net income from joint venture	861
Net income	6,001	5,238
Other comprehensive income (loss):
Foreign currency translation loss	-16,296	-639
Change in fair value of interest rate hedge	-1,564
Comprehensive income (loss)	($11,859)	$4,599
Basic income per common share:	$0.32	$0.30
Weighted average shares outstanding	18,996	17,656
Diluted income per common share:	$0.31	$0.29
Weighted average shares outstanding	19,380	17,962
Cash dividends per common share	$0.07	$0.07

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash	$16,760	$37,317
Accounts receivable, net	117,249	97,510
Inventories	85,629	91,469
Other current assets	18,370	16,503
Total current assets	238,008	242,799
Property, plant and equipment, net	264,805	278,442
Goodwill, net	83,004	83,941
Intangible asset, net	51,419	52,827
Investment in joint venture	36,895	34,703
Other non-current assets	20,255	20,001
Total assets	694,386	712,713
Current liabilities:
Accounts payable	61,801	71,094
Accrued salaries, wages and benefits	18,792	21,148
Current maturities of long-term debt	23,248	22,160
Income taxes payable	6,275	3,274
Current portion of obligations under capital lease	5,439	5,418
Other current liabilities	11,584	14,504
Total current liabilities	127,139	137,598
Non-current deferred tax liabilities	47,804	49,461
Long-term debt, net of current portion	334,995	328,026
Obligations under capital lease, net of current portion	12,823	14,539
Other non-current liabilities	10,337	9,390
Total liabilities	533,098	539,014
Total stockholders' equity	161,288	173,699
Total liabilities and stockholders' equity	$694,386	$712,713

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]	Non-controlling Interest [Member]	Accumulated Other Comprehensive Income [Member]
In Thousands
Beginning Balance at Dec. 31, 2014	$173,699	$190	$99,095	$69,015	$32	$5,367
Beginning Balance, Shares at Dec. 31, 2014		18,983
Net income	6,001			6,001
Dividends declared	-1,328			-1,328
Shares issued for option exercises	157		157
Shares issued for option exercises, Shares	14	14
Stock option expense	315		315
Restricted stock expense	468		468
Restricted stock expense, Shares		67
Restricted shares withheld from employees for tax obligations	-164		-164
Restricted shares withheld from employees for tax obligations, Shares		-7
Foreign currency translation loss	-16,296					-16,296
Change in fair value of interest rate hedge	-1,564					-1,564
Ending Balance at Mar. 31, 2015	$161,288	$190	$99,871	$73,688	$32	($12,493)
Ending Balance, Shares at Mar. 31, 2015		19,057

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating Activities:
Net income	$6,001	$5,238
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization	8,494	3,877
Amortization of debt issuance costs	554	108
Joint venture net income in excess of cash received	-861
Share-based compensation expense	783	539
Changes in operating assets and liabilities:
Accounts receivable	-24,006	-15,257
Inventories	2,386	-1,963
Accounts payable	-7,696	5,241
Other assets and liabilities	-3,073	920
Net cash used by operating activities	-17,418	-1,297
Investing Activities:
Acquisition of property, plant and equipment	-8,318	-2,178
Cash paid to acquire business, net of cash received		-7,312
Proceeds from disposals of property, plant and equipment	246
Investment in joint venture	-1,372
Net cash used by investing activities	-9,444	-9,490
Financing Activities:
Proceeds from short-term debt, net		3,275
Debt issue costs paid	-132
Principal payments on capital lease	-1,325	-36
Proceeds from long-term debt, net	9,109	10,000
Dividends paid	-1,328	-1,235
Proceeds from issuance of stock and exercise of stock options	157	359
Net cash provided by financing activities	6,481	12,363
Effect of exchange rate changes on cash flows	-176	-73
Net Change in Cash	-20,557	1,503
Cash at Beginning of Period	37,317	3,039
Cash at End of Period	$16,760	$4,542

Interim_Financial_Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Note 1.     Interim Financial Statements
	The accompanying condensed consolidated financial statements of NN, Inc. have not been audited, except that the condensed consolidated balance sheet at December 31, 2014 was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014, which was filed with the U.S. Securities and Exchange Commission, or SEC, on March 16, 2015. In our opinion, these financial statements reflect all adjustments necessary to fairly state the results of operations for the three month periods ended March 31, 2015 and 2014, our financial position at March 31, 2015 and December 31, 2014, and the cash flows for the three month periods ended March 31, 2015 and 2014 on a basis consistent with our audited financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary for fair statement of the financial position and operating results for the interim periods. As used in this Quarterly Report on Form 10-Q, the terms “NN”, “the Company”, “we”, “our”, or “us” mean NN, Inc. and its subsidiaries.
	Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. These unaudited, condensed and consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto included in our most recent Annual Report on Form 10-K for the year ended December 31, 2014, which we filed with the SEC on March 16, 2015. The results for the three month period ended March 31, 2015 are not necessarily indicative of results for the year ending December 31, 2015 or any other future periods.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	Note 2.     Acquisitions
	On January 30, 2014, we purchased the majority of the operating assets of V-S Industries, V-S Precision, LLC and V-S Precision SA de DV (collectively referred to as “VS”) from the secured creditors of V-S Industries for $5,580 in cash and assumed certain liabilities totaling $2,968. This was accounted for as business combination. VS is a precision metal components manufacturer that supplies customers in a variety of industries including electric motors, HVAC, power tools, automotive and medical. The acquisition of VS provided us with a complementary, and broader product offering and allowed penetration into adjacent markets. VS has two locations in Wheeling, Illinois and Juarez, Mexico and rolls up under the Autocam Precision Components Segment.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Note 3.     Inventories
	Inventories are comprised of the following:
		March 31,		December 31,
		2015		2014
	Raw materials	$	35,897	$	35,191
	Work in process		20,471		21,883
	Finished goods		29,261		34,395
		$	85,629	$	91,469
	Inventories on consignment at customer locations as of March 31, 2015 and December 31, 2014 totaled $3,943 and $5,857, respectively.
	Inventories are stated at the lower of cost or market. Cost is determined using the average cost method. The inventory valuations above were developed using normalized production capacities for each of our manufacturing locations. Any costs from abnormal excess capacity or under-utilization of fixed production overheads are expensed in the period incurred and are not included as a component of inventory valuation.

Net_Income_Per_Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Income Per Share	Note 4.     Net Income Per Share
		Three months ended,
		2015		2014
	Net income	$	6,001	$	5,238
	Weighted average shares outstanding		18,996		17,656
	Effective of dilutive stock options		384		306
	Diluted shares outstanding		19,380		17,962
	Basic net income per share	$	0.32	$	0.3
	Diluted net income per share	$	0.31	$	0.29
	There were no anti-dilutive options excluded from the dilutive shares outstanding for the three month period ended March 31, 2015. Excluded from the dilutive shares outstanding for the three month period ended March 31, 2014 were 96 anti-dilutive options which had exercise prices of $19.63.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	Note 5.     Segment Information
	The segment information and the accounting policies of each segment are the same as those described in the notes to the consolidated financial statements entitled “Segment Information” and “Summary of Significant Accounting Policies and Practices,” respectively, included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, which we filed with the SEC on March 16, 2015. Autocam Corporation (“Autocam”) was added to the Precision Metal Components segment during the third quarter of 2014 and the segment was renamed the Autocam Precision Components Segment during the fourth quarter of 2014. We account for inter-segment sales and transfers at current market prices. We did not have any significant inter-segment transactions during the three month periods ended March 31, 2015 and 2014.
	(In Thousands of Dollars)	Metal Bearing		Autocam		Plastic and		Corporate and			Total
		Components		Precision		Rubber		Consolidations
		Segment		Components		Components
				Segment		Segment
	Three Months ended March 31, 2015
	Revenues from external customers	$	73,236	$	82,622	$	7,888	$	—		$	163,746
	Income from operations	$	9,089	$	7,718	$	213	$	(3,086	)	$	13,934
	Total assets	$	204,032	$	439,542	$	18,023	$	32,789		$	694,386
	(In Thousands of Dollars)	Metal Bearing		Autocam		Plastic and		Corporate and			Total
		Components		Precision		Rubber		Consolidations
		Segment		Components		Components
				Segment		Segment
	Three Months ended March 31, 2014
	Revenues from external customers	$	70,900	$	23,738	$	7,890	$	—		$	102,528
	Income from operations	$	8,772	$	2,562	$	235	$	(3,231	)	$	8,338
	Total assets	$	206,825	$	54,812	$	16,939	$	8,413		$	286,989

LongTerm_Debt_and_ShortTerm_De

Long-Term Debt and Short-Term Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Short-Term Debt	Note 6.     Long-Term Debt and Short-Term Debt
	Long-term debt and short-term debt at March 31, 2015 and December 31, 2014 consisted of the following:
		March 31,		December 31,
		2015		2014
	Borrowings under our $350,000 Term Loan B bearing interest at the greater of 1% or 3 month LIBOR (0.27% at March 31, 2015) plus an applicable margin of 5.00% at March 31, 2015 expiring August 29, 2021, net of discount of $4,807.	$	335,817	$	340,005
	Borrowings under our $100,000 ABL Revolver bearing interest at a floating rate equal to LIBOR (0.18% at March 31, 2015) plus an applicable margin of 1.75% at March 31, 2015 expiring August 29, 2019.		12,000		—
	French Safeguard obligations		2,269		2,560
	Brazilian lines of credit and equipment notes		5,049		5,304
	Chinese line of credit		3,108		2,317
	Total debt		358,243		350,186
	Less current maturities of long-term debt		23,248		22,160
	Long-term debt, excluding current maturities of long-term debt	$	334,995	$	328,026
	Our $350,000 term loan facility may be expanded upon our request with approval of the lenders by up to $50,000 under the same terms and conditions. The term loan has a seven year maturity with a 5% per annum repayment. The term loan agreement is a covenant lite agreement with no financial covenants. The term loan agreement does contain customary restrictions on, among other things, additional indebtedness, liens on our assets, sales or transfers of assets, investments, issuance of equity securities, and mergers, acquisitions and other fundamental changes in our business including a “material adverse change” clause, which if triggered would give the lenders the right to accelerate the maturity of the debt. Costs associated with entering into the revolving credit facility were capitalized and will be amortized into interest expense over the life of the facility. As of March 31, 2015, $8,772 of net capitalized loan origination costs related to the term loan are reflected in the condensed consolidated balance sheet within other non-current assets.
	Our $100,000 asset backed loan, or ABL, may be expanded upon our request with approval of the lenders by up to $50,000 under the same terms and conditions. The ABL has a five year maturity and has one springing financial covenant in the event our availability on the ABL is less than $8,000. The ABL contains customary restrictions on, among other things, additional indebtedness, liens on our assets, sales or transfers of assets, investments, issuance of equity securities, and mergers, acquisitions and other fundamental changes in our business including a “material adverse change” clause, which if triggered would give the lenders the right to accelerate the maturity of the debt. The facility has a swing line feature to meet short term cash flow needs. Any borrowings under this swing line are considered short term. We incurred costs as a result of issuing the ABL which have been recorded in the condensed consolidated balance sheet within other non-current assets and are being amortized over the term of the notes. The unamortized balance at March 31, 2015 was $1,222.
	We believe the book values of the above credit facilities approximate their fair values given the interest rates are variable and are consistent with market rates for a company with our credit profile.
	Our French operation (acquired with Autocam) has liabilities with certain creditors subject to Safeguard protection. The liabilities are being paid annually over a 10-year period until 2019 and carry a zero percent interest rate. Amounts due as of March 31, 2015, to those creditors opting to be paid over a 10-year period totaled $2,269 and are included in current maturities of long-term debt ($293) and long-term debt, net of current portion ($1,976).
	The Brazilian lines of credit include facilities with certain Brazilian banks used to fund working capital needs, while the equipment notes represent borrowings from certain Brazilian banks to fund equipment purchases for Autocam’s Brazilian plants. These credit facilities have annual interest rates ranging from 2.5% to 22.4%.
	The Chinese line of credit is a working capital line of credit with a Chinese bank bearing an annual interest rate of 4.95%.

Goodwill_net

Goodwill, net	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, net	Note 7.     Goodwill, net
	The changes in the carrying amount of goodwill, net for the three month period ended March 31, 2015 are as follows:
	(In Thousands of Dollars)	Metal Bearing			Autocam		Total
		Components			Precision
		Segment			Components
					Segment
	Balance as of January 1, 2015	$	9,949		$	73,992	$	83,941
	Currency translation impacts		(937	)		—		(937	)
	Balance as of March 31, 2015	$	9,012		$	73,992	$	83,004
	The goodwill balances are tested for impairment on an annual basis during the fourth quarter and between annual tests if a triggering event occurs. As of March 31, 2015, there were no indications of impairment at the reporting units with goodwill balances.

Intangible_Assets_Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 8.     Intangible Assets, Net
	The Autocam Precision Components Segment has certain intangible assets with an aggregate acquired value of $51,660 related to the Autocam acquisition. These intangible assets are subject to amortization of approximately $3,600 a year with year-to-date amortization expense and accumulated amortization of $910 and $2,142, respectively, at March 31, 2015.
	The Metal Bearing Components Segment has certain intangible assets with an aggregate acquired value of $2,630 related to the RFK and Chelsea acquisitions. These intangible assets are subject to amortization of approximately $260 per year with year- to-date amortization expense and accumulated amortization of $73 and $205, respectively, at March 31, 2015.

SharedBased_Compensation

Shared-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shared-Based Compensation	Note 9.     Shared-Based Compensation
	During the three month periods ended March 31, 2015 and 2014, approximately $783 and $539 respectively, of compensation expense was recognized in selling, general and administrative expense for all share-based awards. During the three month period ended March 31, 2015, there were 67 restricted stock awards to non-executive directors, officers and certain other key employees. During the three month period ended March 31, 2014, there were 93 restricted stock awards and 96 options awards to non-executive directors, officers and certain other key employees.
	The restricted shares granted during the three month period ended March 31, 2015, vest pro-rata over three years for officers and certain other key employees and over one year for non-executive directors. The restricted shares granted during the three month period ended March 31, 2014, vest pro-rata over three years. During the three month periods ended March 31 2015 and 2014, we incurred $468 and $162, respectively, in expense related to restricted stock. The fair value of the shares issued was determined by using the grant date closing price of our common stock.
	We incurred $315 and $377 of stock option expense in the three month periods ended March 31, 2015 and 2014, respectively. The fair value of our options cannot be determined by market value, because our options are not traded in an open market. Accordingly, we utilized the Black Scholes financial pricing model to estimate the fair value.
	The following table provides a reconciliation of option activity for the three month period ended March 31, 2015:
	Options		Shares (000)			Weighted-		Weighted-		Aggregate
						Average		Average		Intrinsic Value
						Exercise		Remaining		$0
						Price		Contractual
								Term
	Outstanding at January 1, 2015			1,175		$	11.4
	Granted			—		$	—
	Exercised			(14	)	$	11.22
	Forfeited or expired			—		$	—
	Outstanding at March 31, 2015			1,161		$	11.4		6	$	15,884	(1)
	Exercisable at March 31, 2015			952		$	10.94		5.4	$	13,462	(1)
	(1)	The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at March 31, 2015.

Provision_for_Income_Taxes

Provision for Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Note 10.     Provision for Income Taxes
	For the three month periods ended March 31, 2015 and 2014, our effective tax rates were 22% and 32%, respectively. The difference between the U.S. federal statutory tax rate of 34% and our effective tax rates was due to non-U.S. based earnings being taxed at lower rates reducing the effective rates for the three month periods ended March 31, 2015 and 2014, by 10% and 2%, respectively. As of March 31, 2015, we do not foresee any significant changes to our unrecognized tax benefits within the next twelve months.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11.     Commitments and Contingencies
	Brazil ICMS Tax Matter
	Prior to our acquisition of Autocam, Autocam’s Brazilian subsidiary received notification from the Brazilian tax authorities regarding ICMS (State Value Added Tax or VAT) tax credits claimed on intermediary materials (tooling and perishable items) used in the manufacturing process. The Brazilian tax authority notification disallowed state ICMS credits claimed on intermediary materials based on the argument that these items are not intrinsically related to the manufacturing processes. Autocam Brazil filed an administrative defense with the Brazilian tax authority arguing, among other matters, that it should qualify for ICMS tax credit, contending that the intermediary materials are directly related to the manufacturing process. We believe that we have substantial legal and factual defenses and plan to defend our interests in this matter vigorously. While we believe a loss is not probable, we estimate the range of possible loss related to this assessment is from $0 to $6,000. No amount was accrued at March 31, 2015 for this matter. There has been no change in the status of this matter from December 31, 2014 to March 31, 2015.
	We are entitled to indemnification from the former shareholders of Autocam, subject to the limitations and procedures set forth in the agreement and plan of merger. Management believes the indemnification would include amounts owed for the tax, interest and penalties related to this matter.
	All other legal proceedings are of an ordinary and routine nature and are incidental to our operations. Management believes that such proceedings should not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations or cash flows. In making that determination, we analyze the facts and circumstances of each case at least quarterly in consultation with our attorneys and determine a range of reasonably possible outcomes.

Investment_in_NonConsolidated_

Investment in Non-Consolidated Joint Venture	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investment in Non-Consolidated Joint Venture	Note 12.     Investment in Non-Consolidated Joint Venture
	As part of the acquisition of Autocam, we acquired a 49% investment in a joint venture with an unrelated entity called Wuxi Weifu Autocam Precision Machinery Company, Ltd. (“JV”), a Chinese company located in Wuxi, China.
	Below are the components of our JV investment balance at March 31, 2015:
	January 1, 2015	$	34,703
	Capital contributed to the joint venture		1,372
	Our share of cumulative earnings		820
	March 31, 2015	$	36,895
	Set forth below is summarized balance sheet information for the JV:
		March 31,		December
		2015		31, 2014
	Current assets	$	26,024	$	24,140
	Non-current assets	$	22,700		21,519
	Total assets	$	48,724	$	45,659
	Current liabilities	$	11,776	$	14,162
	Total liabilities	$	11,776	$	14,162
	No dividends were declared by the JV during the three months ended March 31, 2015. We had sales to the JV of $20 during the three months ended March 31, 2015. Amounts due to us from the JV were $178 as of March 31, 2015. The JV had net sales in 2014 of $50,466 and net income of $9,004. The JV in the first quarter of 2015 had net sales and net income of $14,195 and $1,523, respectively.

Interest_Rate_Hedging

Interest Rate Hedging	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Hedging	Note 13.     Interest Rate Hedging
	Our policy is to manage interest expense using a mix of fixed and variable rate debt. To manage this mix effectively, we may enter into interest rate swaps in which we agree to exchange the difference between fixed and variable interest amounts calculated by reference to an agreed upon notional principal amount.
	On December 16, 2014, we entered into a $150,000 interest rate swap that will go into effect on December 29, 2015 (one year delayed start), at which time our interest rate will be locked at 7.216% until December 31, 2018. Prior to December 16, 2014, we did not have any existing interest rate hedges. The hedge instrument will be 100% effective and as such the mark to market gains or losses on this hedge will be included in accumulated other comprehensive income (loss) to the extent effective, and reclassified into interest expense over the term of the related debt instruments.
	The table below summarizes the fair value measurements of the gross asset and liability of this swap as of March 31, 2015, valued on a recurring basis:
	(Dollars in thousands)				Fair Value Measurements at March 31, 2015
	Description	March 31, 2015			Quoted Prices in			Significant Other				Significant
					Active Markets for			Observable Inputs				Unobservable
					Identical Assets			(Level 2)				Inputs (Level 3)
					(Level 1)
	Derivative asset	$	1,213		$	—		$	1,213			$	—
	Derivative liability		(3,208	)		—			(3,208	)			—
		$	(1,995	)	$	—		$	(1,995	)		$	—
	The interest rate swap derivative is classified as Level 2. Level 2 fair value is based on estimates using standard pricing models. These standard pricing models use inputs which are derived from or corroborated by observable market data such as interest rate yield curves, index forward curves, discount curves, and volatility surfaces. Counterparties to these derivative contracts are highly rated financial institutions which we believe carry only a minimal risk of nonperformance.
	We have elected to present the derivative contracts on a gross basis in the Condensed Consolidated Balance Sheet. Had we chosen to present the derivative contract on a net basis, we would have a derivative in a net liability position of $1,995 as of March 31, 2015. We do not have any cash collateral due under such agreements.
	Derivatives’ Hedging Relationships
	(Dollars in millions)	Amount of after tax of gain/						Location of gain/(loss)		Pre-tax amount of gain/(loss)
		(loss) recognized in Other						reclassified from		reclassified from Accumulated
		Comprehensive Income on						Accumulated Other		Other Comprehensive Income
		Derivatives (effective portion)						Comprehensive Income		into Income (effective portion)
								into Income (effective
	Derivatives’ Cash Flow	March 31,			December 31,			portion)		March 31,				December 31,
		2015			2014					2015				2014
	Hedging Relationships
	Forward starting interest rate swap contract	$	(1,995	)	$	(431	)	Interest Expense		$	—			$	—
		$	(1,995	)	$	(431	)			$	—			$	—

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are comprised of the following:
		March 31,		December 31,
		2015		2014
	Raw materials	$	35,897	$	35,191
	Work in process		20,471		21,883
	Finished goods		29,261		34,395
		$	85,629	$	91,469

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Summary of Net Income Per Share
		Three months ended,
		2015		2014
	Net income	$	6,001	$	5,238
	Weighted average shares outstanding		18,996		17,656
	Effective of dilutive stock options		384		306
	Diluted shares outstanding		19,380		17,962
	Basic net income per share	$	0.32	$	0.3
	Diluted net income per share	$	0.31	$	0.29

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information
	(In Thousands of Dollars)	Metal Bearing		Autocam		Plastic and		Corporate and			Total
		Components		Precision		Rubber		Consolidations
		Segment		Components		Components
				Segment		Segment
	Three Months ended March 31, 2015
	Revenues from external customers	$	73,236	$	82,622	$	7,888	$	—		$	163,746
	Income from operations	$	9,089	$	7,718	$	213	$	(3,086	)	$	13,934
	Total assets	$	204,032	$	439,542	$	18,023	$	32,789		$	694,386
	(In Thousands of Dollars)	Metal Bearing		Autocam		Plastic and		Corporate and			Total
		Components		Precision		Rubber		Consolidations
		Segment		Components		Components
				Segment		Segment
	Three Months ended March 31, 2014
	Revenues from external customers	$	70,900	$	23,738	$	7,890	$	—		$	102,528
	Income from operations	$	8,772	$	2,562	$	235	$	(3,231	)	$	8,338
	Total assets	$	206,825	$	54,812	$	16,939	$	8,413		$	286,989

LongTerm_Debt_and_ShortTerm_De1

Long-Term Debt and Short-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt and Short-Term Debt	Long-term debt and short-term debt at March 31, 2015 and December 31, 2014 consisted of the following:
		March 31,		December 31,
		2015		2014
	Borrowings under our $350,000 Term Loan B bearing interest at the greater of 1% or 3 month LIBOR (0.27% at March 31, 2015) plus an applicable margin of 5.00% at March 31, 2015 expiring August 29, 2021, net of discount of $4,807.	$	335,817	$	340,005
	Borrowings under our $100,000 ABL Revolver bearing interest at a floating rate equal to LIBOR (0.18% at March 31, 2015) plus an applicable margin of 1.75% at March 31, 2015 expiring August 29, 2019.		12,000		—
	French Safeguard obligations		2,269		2,560
	Brazilian lines of credit and equipment notes		5,049		5,304
	Chinese line of credit		3,108		2,317
	Total debt		358,243		350,186
	Less current maturities of long-term debt		23,248		22,160
	Long-term debt, excluding current maturities of long-term debt	$	334,995	$	328,026

Goodwill_net_Tables

Goodwill, net (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill, net for the three month period ended March 31, 2015 are as follows:
	(In Thousands of Dollars)	Metal Bearing			Autocam		Total
		Components			Precision
		Segment			Components
					Segment
	Balance as of January 1, 2015	$	9,949		$	73,992	$	83,941
	Currency translation impacts		(937	)		—		(937	)
	Balance as of March 31, 2015	$	9,012		$	73,992	$	83,004

SharedBased_Compensation_Table

Shared-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Reconciliation of Option Activity	The following table provides a reconciliation of option activity for the three month period ended March 31, 2015:
	Options		Shares (000)			Weighted-		Weighted-		Aggregate
						Average		Average		Intrinsic Value
						Exercise		Remaining		$0
						Price		Contractual
								Term
	Outstanding at January 1, 2015			1,175		$	11.4
	Granted			—		$	—
	Exercised			(14	)	$	11.22
	Forfeited or expired			—		$	—
	Outstanding at March 31, 2015			1,161		$	11.4		6	$	15,884	(1)
	Exercisable at March 31, 2015			952		$	10.94		5.4	$	13,462	(1)
	(1)	The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at March 31, 2015.

Investment_in_NonConsolidated_1

Investment in Non-Consolidated Joint Venture (Tables)	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Components of Joint Venture Investment	Below are the components of our JV investment balance at March 31, 2015:
	January 1, 2015	$	34,703
	Capital contributed to the joint venture		1,372
	Our share of cumulative earnings		820
	March 31, 2015	$	36,895
Summarized Balance Sheet Information for Joint Venture	Set forth below is summarized balance sheet information for the JV:
		March 31,		December
		2015		31, 2014
	Current assets	$	26,024	$	24,140
	Non-current assets	$	22,700		21,519
	Total assets	$	48,724	$	45,659
	Current liabilities	$	11,776	$	14,162
	Total liabilities	$	11,776	$	14,162

Interest_Rate_Hedging_Tables

Interest Rate Hedging (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Effect of Financial Assets and Liabilities Valued on Recurring Basis	The table below summarizes the fair value measurements of the gross asset and liability of this swap as of March 31, 2015, valued on a recurring basis:
	(Dollars in thousands)				Fair Value Measurements at March 31, 2015
	Description	March 31, 2015			Quoted Prices in			Significant Other				Significant
					Active Markets for			Observable Inputs				Unobservable
					Identical Assets			(Level 2)				Inputs (Level 3)
					(Level 1)
	Derivative asset	$	1,213		$	—		$	1,213			$	—
	Derivative liability		(3,208	)		—			(3,208	)			—
		$	(1,995	)	$	—		$	(1,995	)		$	—
Effect of Derivatives' Hedging Relationships	Derivatives’ Hedging Relationships
	(Dollars in millions)	Amount of after tax of gain/						Location of gain/(loss)		Pre-tax amount of gain/(loss)
		(loss) recognized in Other						reclassified from		reclassified from Accumulated
		Comprehensive Income on						Accumulated Other		Other Comprehensive Income
		Derivatives (effective portion)						Comprehensive Income		into Income (effective portion)
								into Income (effective
	Derivatives’ Cash Flow	March 31,			December 31,			portion)		March 31,				December 31,
		2015			2014					2015				2014
	Hedging Relationships
	Forward starting interest rate swap contract	$	(1,995	)	$	(431	)	Interest Expense		$	—			$	—
		$	(1,995	)	$	(431	)			$	—			$	—

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)	3 Months Ended	0 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Jan. 30, 2014	Mar. 31, 2015
Business Acquisition [Line Items]
Operating assets acquired in cash	$7,312
VS [Member]
Business Acquisition [Line Items]
Operating assets acquired in cash		5,580
Liabilities assumed		$2,968
Date of acquisition			30-Jan-14

Inventories_Summary_of_Invento

Inventories - Summary of Inventories (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Raw materials	$35,897	$35,191
Work in process	20,471	21,883
Finished goods	29,261	34,395
Inventories	$85,629	$91,469

Inventories_Additional_Informa

Inventories - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Inventory on consignment at customers' location	$3,943	$5,857

Net_Income_Per_Share_Summary_o

Net Income Per Share - Summary of Net Income Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income	$6,001	$5,238
Weighted average shares outstanding	18,996	17,656
Effective of dilutive stock options	384	306
Diluted shares outstanding	19,380	17,962
Basic net income per share	$0.32	$0.30
Diluted net income per share	$0.31	$0.29

Net_Income_Per_Share_Additiona

Net Income Per Share - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Anti-dilutive options	0	96,000
Anti-dilutive securities excluded from computation of earnings per share exercise price		$19.63

Segment_Information_Segment_In

Segment Information - Segment Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues from external customers	$163,746	$102,528
Income from operations	13,934	8,338
Total assets	694,386	286,989	712,713
Operating Segments [Member] | Metal Bearing Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	73,236	70,900
Income from operations	9,089	8,772
Total assets	204,032	206,825
Operating Segments [Member] | Autocam Precision Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	82,622	23,738
Income from operations	7,718	2,562
Total assets	439,542	54,812
Operating Segments [Member] | Plastic and Rubber Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	7,888	7,890
Income from operations	213	235
Total assets	18,023	16,939
Corporate and Consolidations [Member]
Segment Reporting Information [Line Items]
Income from operations	-3,086	-3,231
Total assets	$32,789	$8,413

LongTerm_Debt_and_ShortTerm_De2

Long-Term Debt and Short-Term Debt - Summary of Long-Term Debt and Short-Term Debt (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Total debt	$358,243	$350,186
Less current maturities of long-term debt	23,248	22,160
Long-term debt, net of current portion	334,995	328,026
French Safeguard [Member]
Debt Instrument [Line Items]
French Safeguard obligations	2,269	2,560
Brazilian [Member]
Debt Instrument [Line Items]
Borrowings under line of credit	5,049	5,304
Chinese [Member]
Debt Instrument [Line Items]
Borrowings under line of credit	3,108	2,317
Term Loan B [Member]
Debt Instrument [Line Items]
Borrowings under our $350,000 Term Loan B bearing interest at the greater of 1% or 3 month LIBOR (0.27% at March 31, 2015) plus an applicable margin of 5.00% at March 31, 2015 expiring August 29, 2021, net of discount of $4,807.	335,817	340,005
ABL Revolver [Member]
Debt Instrument [Line Items]
Borrowings under line of credit	$12,000

LongTerm_Debt_and_ShortTerm_De3

Long-Term Debt and Short-Term Debt - Summary of Long-Term Debt and Short-Term Debt (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Term Loan B [Member]
Debt Instrument [Line Items]
Borrowings	$350,000
LIBOR rate	0.27%
Applicable margin	5.00%
Interest bearing rate	1.00%
LIBOR Period	3 months
Debt maturity date	29-Aug-21
Debt discount	4,807
ABL Revolver [Member]
Debt Instrument [Line Items]
Borrowings	$100,000
LIBOR rate	0.18%
Applicable margin	1.75%
Debt maturity date	29-Aug-19

LongTerm_Debt_and_ShortTerm_De4

Long-Term Debt and Short-Term Debt - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Interest rate	0.00%
French Safeguard [Member]
Line of Credit Facility [Line Items]
French Safeguard obligations	2,269	$2,560
Current maturities of French Safeguard obligations	-293
Noncurrent maturities of French Safeguard obligations	-1,976
Chinese [Member]
Line of Credit Facility [Line Items]
Annual interest rate	4.95%
Term Loan B [Member]
Line of Credit Facility [Line Items]
Borrowings	350,000
Maturity period	7 years
Repayment of term loan, percentage	5.00%
Potential to expand credit facility under credit agreement	50,000
Unamortized balance	8,772
ABL Revolver [Member]
Line of Credit Facility [Line Items]
Maturity period	5 years
Repayment of term loan, percentage	1.75%
Potential to expand credit facility under credit agreement	50,000
Unamortized balance	1,222
Borrowings	100,000
ABL borrowing	8,000
Minimum [Member] | French Safeguard [Member]
Line of Credit Facility [Line Items]
Creditor's claim period	10 years
Minimum [Member] | Brazilian [Member]
Line of Credit Facility [Line Items]
Lines of credit interest rate	2.50%
Maximum [Member] | Brazilian [Member]
Line of Credit Facility [Line Items]
Lines of credit interest rate	22.40%

Goodwill_net_Changes_in_Carryi

Goodwill, net - Changes in Carrying Amount of Goodwill (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill [Line Items]
Beginning Balance	$83,941
Currency translation impacts	-937
Ending Balance	83,004
Metal Bearing Components Segment [Member]
Goodwill [Line Items]
Beginning Balance	9,949
Currency translation impacts	-937
Ending Balance	9,012
Autocam Precision Components Segment [Member]
Goodwill [Line Items]
Beginning Balance		73,992
Ending Balance	$73,992	$73,992

Goodwill_net_Additional_Inform

Goodwill, net - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$0

Intangible_Assets_Net_Addition

Intangible Assets, Net - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Autocam Precision Components Segment [Member]
Intangible Assets [Line Items]
Intangible assets subject to acquisition	$51,660
Amortization of intangible assets	3,600
Amortization expense	910
Accumulated amortization	2,142
Metal Bearing Components Segment [Member]
Intangible Assets [Line Items]
Intangible assets subject to acquisition	2,630
Amortization of intangible assets	260
Amortization expense	73
Accumulated amortization	$205

SharedBased_Compensation_Addit

Shared-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule Of Stock Option Activity [Line Items]
Share-based compensation expense	$783	$539
Number of options granted	0	96
Restricted stock awards granted other than options	67	93
Expenses related to issuance of restricted stock	468	162
Stock or unit option plan expense	$315	$377
Officers and Key Employees [Member]
Schedule Of Stock Option Activity [Line Items]
Vesting period of stock issue	3 years	3 years
Non-Executive Directors [Member]
Schedule Of Stock Option Activity [Line Items]
Vesting period of stock issue	1 year

SharedBased_Compensation_Recon

Shared-Based Compensation - Reconciliation of Option Activity (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Outstanding, Beginning Balance	1,175
Number of Options, Granted	0	96
Number of Options, Exercised	-14
Number of Options, Forfeited or expired	0
Number of Options, Outstanding, Ending Balance	1,161
Number of Options, Options Exercisable	952
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$11.40
Weighted-Average Exercise Price, Granted	$0
Weighted-Average Exercise Price, Exercised	$11.22
Weighted-Average Exercise Price, Forfeited or expired	$0
Weighted-Average Exercise Price, Outstanding, Ending Balance	$11.40
Weighted-Average Exercise Price, Options exercisable	$10.94
Weighted-Average Remaining Contractual Term, Outstanding, Ending Balance	6 years
Weighted- Average Remaining Contractual Term, Options exercisable	5 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding, Ending Balance	$15,884
Aggregate Intrinsic Value, Options exercisable	$13,462

Provision_for_Income_Taxes_Add

Provision for Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
State and Local effective income tax rate	22.00%	32.00%
U.S. federal statutory rate	34.00%
Non-U.S. based earnings being taxed at lower rates reducing the effective rate	-10.00%	-2.00%

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Possible loss estimated minimum	$0
Possible loss estimated maximum	6,000,000
Amount accrued for estimation of loss	$0

Investment_in_NonConsolidated_2

Investment in Non-Consolidated Joint Venture - Additional Information (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Net sales	$163,746	$102,528
Net income	6,001	5,238
Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Acquired investment in joint venture	49.00%
Autocam [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	20
Amount due from joint venture	178
Autocam [Member] | Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	14,195		50,466
Net income	$1,523		$9,004

Investment_in_NonConsolidated_3

Investment in Non-Consolidated Joint Venture - Components of Joint Venture Investment (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Beginning Balance	$34,703
Capital contributed to the joint venture	1,372
Ending Balance	36,895
Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Beginning Balance	34,703
Capital contributed to the joint venture	1,372
Our share of cumulative earnings	820
Ending Balance	$36,895

Investment_in_NonConsolidated_4

Investment in Non-Consolidated Joint Venture - Summarized Balance Sheet Information for Joint Venture (Detail) (Joint Venture [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	$26,024	$24,140
Non-current assets	22,700	21,519
Total assets	48,724	45,659
Current liabilities	11,776	14,162
Total liabilities	$11,776	$14,162

Interest_Rate_Hedging_Addition

Interest Rate Hedging - Additional Information (Detail) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Dec. 16, 2014	Mar. 31, 2015	Dec. 16, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of interest rate swap			$150,000
Description of term of interest rate swap	On December 16, 2014, we entered into a $150,000 interest rate swap that will go into effect on December 29, 2015 (one year delayed start), at which time our interest rate will be locked at 7.216% until December 31, 2018.
Locked interest rate			7.22%
Derivative maturity date	31-Dec-18
Derivative inception date	29-Dec-15
Derivative in Net liability position		$1,995

Interest_Rate_Hedging_Financia

Interest Rate Hedging - Financial Assets and Liabilities Valued on Recurring Basis (Detail) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]
Derivative asset	$1,213
Derivative liability	-3,208
Derivative asset and liability, Total	-1,995
Significant Other Observable Inputs Level 2 Member
Derivatives, Fair Value [Line Items]
Derivative asset	1,213
Derivative liability	-3,208
Derivative asset and liability, Total	($1,995)

Interest_Rate_Hedging_Derivati

Interest Rate Hedging - Derivatives' Cash Flow Hedging Relationships (Detail) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of after tax of gain/(loss) recognized in Other Comprehensive Income on Derivatives (effective portion)	($1,995)	($431)
Pre-tax amount of gain/(loss) reclassified from Accumulated Other Comprehensive Income into Income (effective portion)	0	0
Interest Expense [Member] | Forward Starting Interest Rate Swap Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of after tax of gain/(loss) recognized in Other Comprehensive Income on Derivatives (effective portion)	-1,995	-431
Pre-tax amount of gain/(loss) reclassified from Accumulated Other Comprehensive Income into Income (effective portion)	$0	$0