NN (NNBR) 10-Q 4 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	NNBR
Entity Registrant Name	NN INC
Entity Central Index Key	918,541
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		27,465,072

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net sales	$ 226,314	$ 212,226
Cost of products sold (exclusive of depreciation and amortization shown separately below)	166,954	159,754
Selling, general and administrative	21,494	20,712
Depreciation and amortization	15,568	17,348
Restructuring and integration	140	2,538
Income from operations	22,158	11,874
Interest expense	14,956	16,422
Derivative losses on change in interest rate swap fair value	(88)
Other (income) expense, net	(724)	(1,129)
Income (loss) before provision (benefit) for income taxes and share of net income from joint venture	8,014	(3,419)
Provision (benefit) expense for income taxes	2,300	(720)
Share of net income from joint venture	1,693	1,400
Net income (loss)	7,407	(1,299)
Other comprehensive income:
Change in fair value of interest rate hedge		(1,002)
Foreign currency translation gain	4,706	6,719
Other comprehensive income	4,706	5,717
Comprehensive income	$ 12,113	$ 4,418
Basic income per share:
Net income (loss)	$ 0.27	$ (0.05)
Weighted average shares outstanding	27,303	26,869
Diluted income per share:
Net income (loss)	$ 0.27	$ (0.05)
Weighted average shares outstanding	27,634	26,869
Cash dividends per common share	$ 0.07	$ 0.07

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 19,583	$ 14,405
Accounts receivable, net	159,569	139,547
Inventories	116,561	114,851
Other current assets	14,629	11,752
Total current assets	310,342	280,555
Property, plant and equipment, net	328,214	322,953
Goodwill, net	451,447	450,311
Intangible assets, net	250,112	255,981
Investment in joint venture	42,387	40,694
Other non-current assets	8,541	9,892
Total assets	1,391,043	1,360,386
Current liabilities:
Accounts payable	77,673	75,719
Accrued salaries, wages and benefits	23,450	24,996
Income taxes payable	8,014	2,125
Current maturities of long-term debt	10,753	12,751
Current portion of obligation under capital lease	3,664	3,762
Other current liabilities	26,633	19,263
Total current liabilities	150,187	138,616
Non-current deferred tax liabilities	99,051	99,591
Long-term debt, net of current portion	799,450	785,713
Accrued post-employment benefits	5,512	5,765
Obligation under capital lease, net of current portion	5,063	5,851
Other	3,901	9,651
Total liabilities	1,063,164	1,045,187
Total stockholders' equity	327,879	315,199
Total liabilities and stockholders' equity	$ 1,391,043	$ 1,360,386

Condensed Consolidated Stateme4

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (loss) [Member]	Non-controlling Interest [Member]
Beginning Balance at Dec. 31, 2016	$ 315,199	$ 272	$ 284,508	$ 55,509	$ (25,122)	$ 32
Beginning Balance, Shares at Dec. 31, 2016		27,249
Net income (Loss)	7,407			7,407
Dividends paid	(1,910)			(1,910)
Stock option expense	381		381
Shares issued for option exercises	$ 912	$ 1	911
Shares issued for option exercises, shares	81	80
Restricted and performance based stock compensation expense	$ 771		771
Restricted and performance based stock compensation expense,shares		83
Restricted shares forgiven for taxes and forfeited	(327)		(327)
Restricted shares forgiven for taxes and forfeited, shares		(14)
Foreign currency translation gain	4,706				4,706
Adoption of new accounting standard (see Note 1)	740			740
Ending Balance at Mar. 31, 2017	$ 327,879	$ 273	$ 286,244	$ 61,746	$ (20,416)	$ 32
Ending Balance, Shares at Mar. 31, 2017		27,398

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income(loss)	$ 7,407	$ (1,299)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,568	17,348
Amortization of debt issuance costs	1,221	911
Total derivative mark-to-market gains, net of cash settlements	(88)
Joint venture net income in excess of cash received	(1,693)	(1,400)
Compensation expense from issuance of restricted stock and incentive stock options	1,152	1,001
Deferred income tax benefit		1,029
Changes in operating assets and liabilities:
Accounts receivable	(19,332)	(20,318)
Inventories	(1,025)	(283)
Accounts payable	1,394	1,191
Other	605	5,341
Net cash provided by operating activities	5,209	3,521
Cash flows from investing activities:
Acquisition of property, plant and equipment	(8,565)	(8,008)
Proceeds from disposals of property, plant and equipment	27	17
Net cash used by investing activities	(8,538)	(7,991)
Cash flows from financing activities:
Dividends Paid	(1,910)	(1,879)
Proceeds from long-term debt	14,000	11,000
Repayment of long-term debt	(1,437)	(1,437)
Repayment of short-term debt, net	(2,045)	(969)
Proceeds from issuance of stock and exercise of stock options	912
Shares withheld to satisfy income tax withholding	(327)	(89)
Principal payments on capital lease	(901)	(1,342)
Net cash provided by financing activities	8,292	5,284
Effect of exchange rate changes on cash flows	215	(822)
Net change in cash and cash equivalents	5,178	(8)
Cash and cash equivalents at beginning of period	14,405	15,087
Cash and cash equivalents at end of period	$ 19,583	$ 15,079

Interim Financial Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Note 1. Interim Financial Statements We are a diversified industrial company and a leading global manufacturer of high precision bearing components, industrial plastic products and precision metal components to a variety of markets on a global basis. We have 40 manufacturing plants in North America, Western Europe, Eastern Europe, South America and Asia. Our business is aggregated into three reportable segments, the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. As used in this Quarterly Report on Form 10-Q, the The accompanying Condensed Consolidated Financial Statements of NN, Inc. have not been audited, except that the Condensed Consolidated Balance Sheet at December 31, 2016 was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K 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. Newly Adopted Accounting Standards During March 2016, accounting standard update (“ASU”) 2016-09 paid-in 2016-09 Issuance of New Accounting Standards In May 2014, the FASB issued accounting guidance that provides a single, comprehensive revenue recognition model for all contracts with customers and supersedes most of the existing revenue recognition requirements. Under this guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued accounting guidance that delayed the effective date of this standard by one year, making the guidance effective for fiscal years beginning after December 15, 2017. The new revenue guidance may impact the timing of recognition for certain Company’s customer incentives. Factors that will affect pre-and On February 25, 2016, the FASB issued ASU 2016-02, 2016-02”). 2016-02 2016-02 The FASB issued ASU 2016-15 2016-15”). During January 2017, the FASB issued ASU 2017-04 Except for per share data or as otherwise indicated, all dollar amounts presented in the tables in these Notes to the Condensed Consolidated Financial Statements are in thousands.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Note 2. Inventories Inventories are comprised of the following: March 31, December 31, Raw materials $ 51,022 $ 49,205 Work in process 32,829 31,348 Finished goods 32,710 34,298 Inventories $ 116,561 $ 114,851 Inventories on consignment at customer locations as of March 31, 2017 and December 31, 2016 totaled $4.4 million and $5.0 million, respectively. Inventories are stated at the lower of cost or net realizable value. 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 underutilization 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, 2017
Earnings Per Share [Abstract]
Net Income Per Share	Note 3. Net Income Per Share Three Months Ended 2017 2016 Net income (loss) $ 7,407 $ (1,299 ) Weighted average shares outstanding 27,303 26,869 Effect of dilutive stock options 331 — Diluted shares outstanding 27,634 26,869 Basic net income (loss) per share $ 0.27 $ (0.05 ) Diluted net income (loss) per share $ 0.27 $ (0.05 ) For both the three month periods ended March 31, 2017 and 2016, approximately 0.6 million and 0.8 million potentially dilutive stock options, respectively, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Note 4. 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 the 2016 Annual Report. Our business is aggregated into three reportable segments, the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. 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 period ended March 31, 2017. Precision Autocam Precision Corporate and Total Three Months ended March 31, 2017 Revenues from external customers $ 68,759 $ 86,446 $ 71,109 $ — $ 226,314 Income (loss) from operations $ 8,402 $ 10,601 $ 10,914 $ (7,759 ) $ 22,158 Total assets $ 226,829 $ 428,512 $ 727,418 $ 8,284 $ 1,391,043 Three Months ended March 31, 2016 Revenues from external customers $ 64,745 $ 83,990 $ 63,491 $ — $ 212,226 Income (loss) from operations $ 6,326 $ 6,527 $ 5,421 $ (6,400 ) $ 11,874 Total assets $ 227,852 $ 426,741 $ 737,956 $ 3,068 $ 1,395,617

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Note 5. Long-Term Debt Long-term debt at March 31, 2017 and December 31, 2016 consisted of the following: March 31, December 31, $545.0 million Senior Secured Term Loan B (“Senior Secured Term Loan”) bearing interest at the greater of 0.75% or 1 month LIBOR (0.98% at March 31, 2017) plus an applicable margin of 4.25% at March 31, 2017, expiring October 19, 2022, net of debt issuance costs of $18.2 million at March 31, 2017 and $19.0 million at December 31, 2016. $ 523,884 $ 524,539 $143.0 million Senior Secured Revolver (“Senior Secured Revolver”) bearing interest at LIBOR (0.98% at March 31, 2017) plus an applicable margin of 3.50% at March 31, 2017, expiring October 19, 2020, net of debt issuance costs of $2.5 million at March 31, 2017 and $2.7 million at December 31, 2016. 38,021 25,298 $250.0 million Senior Notes (“Senior Notes”)bearing interest at 10.25%, maturing on November 1, 2020, net of debt issuance costs of $4.7 million at March 31, 2017 and $4.9 million at December 31, 2016. 245,340 245,077 French Safeguard Obligations (Autocam) 363 358 Brazilian lines of credit and equipment notes (Autocam) 489 573 Chinese line of credit (Autocam) 2,106 2,619 Total debt 810,203 798,464 Less current maturities of long-term debt 10,753 12,751 Long-term debt, excluding current maturities of long-term debt $ 799,450 $ 785,713 See subsequent event footnote related to amending the Senior Secured Term Loan for the Incremental Term Loan and the redemption of the Senior Notes. As part of Autocam Corporation (“Autocam”), we assumed certain foreign credit facilities. These facilities relate to local borrowings in France, Brazil and China. These facilities are with financial institutions in the countries in which foreign plants operate and are used to fund working capital and equipment purchases in those countries. The following paragraphs describe these foreign credit facilities. 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 10-year The Brazilian 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 9.1%. The Chinese line of credit is a working capital line of credit with a Chinese bank bearing an annual interest rate of approximately 4.6%.

Goodwill, Net

Goodwill, Net	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Net	Note 6. Goodwill, Net The changes in the carrying amount of goodwill, net, for the three months ended March 31, 2017 are as follows: Precision Autocam Precision Total Balance as of December 31, 2016 $ 8,909 $ 70,717 $ 370,685 $ 450,311 Currency impacts 88 104 944 1,136 Balance as of March 31, 2017 $ 8,997 $ 70,821 $ 371,629 $ 451,447 The goodwill balances are tested for impairment on an annual basis during the fourth quarter and more often if a triggering event occurs. As of March 31, 2017, there were no indications of impairment at the reporting units with goodwill balances.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 7. Intangible Assets, Net The changes in the carrying amount of intangible assets, net, for the three months ended March 31, 2017 are as follows: Precision Autocam Components Precision Total Balance as of December 31, 2016 $ 1,718 $ 42,928 $ 211,335 $ 255,981 Amortization (52 ) (874 ) (4,966 ) (5,892 ) Currency impacts 16 7 — 23 Balance as of March 31, 2017 $ 1,682 $ 42,061 $ 206,369 $ 250,112

Shared-Based Compensation

Shared-Based Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shared-Based Compensation	Note 8. Shared-Based Compensation The share-based compensation expense during the three months ended March 31, 2017 and 2016 consisted of the following: Three Months Ended 2017 2016 Stock options $ 381 $ 202 Restricted stock 460 648 Performance share units 311 151 Share-based compensation $ 1,152 $ 1,001 Stock Options During the three months ended March 31, 2017, we granted 125,700 option awards to officers and certain other key employees. The weighted average grant date fair value of options granted during the three months ended March 31, 2017, was $11.84. 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 weighted average assumptions relevant to determining the fair value of the 2017 stock option grants are below: 2017 Term 6 years Risk free interest rate 2.03 % Dividend yield 1.16 % Expected volatility 56.56 % Expected forfeiture rate 3.00 % The following table provides a reconciliation of option activity for the three months ended March 31, 2017: Options Shares (000) Weighted- Weighted- Aggregate Outstanding at January 1, 2017 897 $ 12.22 Granted 126 24.20 Exercised (81 ) 11.45 Forfeited or expired (2 ) 13.29 Outstanding at March 31, 2017 940 $ 13.88 6.5 $ 10,643 (1) Exercisable at March 31, 2017 694 $ 12.11 5.4 $ 9,081 (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, 2017. Restricted Stock During the three months ended March 31, 2017, we granted 83,135 restricted stock awards to non-executive pro-rata non-executive Performance Share Units During the three months ended March 31, 2017, we granted 98,618 restricted stock awards to officers and certain other key employees. The performance share units granted will be satisfied in the form of shares of common stock during 2020 if certain performance and/or market conditions are met. We are recognizing the compensation expense over the three-year period in which the performance and market conditions are measured. The fair value of the performance share units issued was determined by using the grant date closing price of our common stock for the units with a performance condition, or $24.20, and a Monte Carlo valuation model for the units that have a market condition, or $29.84.

Provision for Income Taxes

Provision for Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Note 9. Provision for Income Taxes Our effective tax rate for the three-month period ended March 31, 2017 was 29% as compared to 21% for the three-month period ended March 31, 2016. Our effective tax rate for 2017 and 2016 differs from the U.S. federal statutory rate of 34% due primarily to our earnings outside the United States that are indefinitely reinvested and taxed at rates lower than the U.S. federal statutory rate. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits and interest may decrease during the next 12 months by approximately $0.6 million related to the expiration of the statutes of limitations, of which $0.5 million would reduce income tax expense.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10. 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 process. Autocam Brazil filed an administrative defense with the Brazilian tax authority arguing, among other matters, that it should qualify for an 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 we plan to defend our interests in this matter vigorously. While we believe a loss is not probable, we estimate the range of possible losses related to this assessment is from $0 to $6.0 million. No amount was accrued at March 31, 2017 for this matter. There was no material change in the status of this matter from December 31, 2016 to March 31, 2017. 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 relating to our acquisition of Autocam. Management believes the indemnification would include amounts owed for the tax, interest and penalties related to this matter. All Other Legal Matters 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 Non-Consolidated

Investment in Non-Consolidated Joint Venture	3 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investment in Non-Consolidated Joint Venture	Note 11. Investment in Non-Consolidated As part of the Autocam acquisition, we own a 49% investment in a joint venture with an unrelated entity called Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”), a Chinese company located in Wuxi, China. The JV is jointly controlled and managed, and is being accounted for under the equity method. Below are the components of our JV investment balance and activity for the period ending March 31, 2017: Balance as of December 31, 2016 $ 40,694 Our share of cumulative earnings 1,807 Accretion of basis difference from purchase accounting (114 ) Balance as of March 31, 2017 $ 42,387 The following table summarizes balance sheet information for the JV: March 31, December 31, Current assets $ 37,441 $ 31,295 Non-current 23,463 22,522 Total assets $ 60,904 $ 53,817 Current liabilities $ 15,853 $ 13,549 Total liabilities $ 15,853 $ 13,549 We had sales to the JV of approximately $0.1 million during the three months ended March 31, 2017. Amounts due to us from the JV were $0.1 million as of March 31, 2017.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12. Fair Value Measurements We present fair value measurements and disclosures applicable to both our financial and nonfinancial assets and liabilities that are measured and reported on a fair value basis. Fair value is an exit price representing the expected amount we would receive to sell an asset or pay to transfer a liability in an orderly transaction with market participants at the measurement date. We have followed consistent methods and assumptions to estimate the fair values as more fully described in the 2016 Annual Report. Our financial instruments that are subject to fair value disclosure consist of cash and cash equivalents, accounts receivable, accounts payable, derivatives and long-term debt. At March 31, 2017, the carrying values of all of these financial instruments, except the long-term debt with fixed interest rates, approximated fair value. The fair value of floating-rate debt approximates the carrying amount because the interest rates paid are based on short-term maturities. The fair value of our fixed-rate long-term debt is estimated based on the Bloomberg algorithm, which takes into account similar sized and industry debt (a Level 2 category fair value measurement). As of March 31, 2017, the fair value of our fixed-rate debt was $250.1 million, and $245.4 net of debt issuance costs. Fair value principles prioritize valuation inputs across three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the assumptions used to measure assets and liabilities at fair value. An asset or liability’s classification within the various levels is determined based on the lowest level input that is significant to the fair value measurement. Recurring Fair Value Measurements The following table summarizes the assets and liabilities measured at fair value on a recurring basis for our interest rate swap derivative financial instrument: Fair Value Measurements at March 31, 2017 Description March 31, Quoted Prices in Significant Other Significant Derivative asset - current $ 4 $ — $ 4 $ — Derivative asset - noncurrent 7 — 7 — Derivative liability - current (1,485 ) — (1,485 ) — Derivative liability - noncurrent (636 ) — (636 ) — $ (2,110 ) $ — $ (2,110 ) $ — Fair Value Measurements at December 31, 2016 Description December 31, Quoted Prices in Significant Other Significant Derivative asset - current $ 69 $ — $ 69 $ — Derivative asset - noncurrent 6 — 6 — Derivative liability - current (1,903 ) — (1,903 ) — Derivative liability - noncurrent (1,028 ) — (1,028 ) — $ (2,856 ) $ — $ (2,856 ) $ — 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. Our $150 million interest rate swap went into effect on December 29, 2015, at which time our interest rate was effectively 6.966%. The objective of the hedge was to eliminate the variability of cash flows in interest payments on the first $150 million of variable interest rate debt (the Term Loan B). The variable rate benchmark was the three month LIBOR rate for both the Term Loan B and the interest rate swap. The changes in cash flows of the interest rate swap were expected to exactly offset the changes in cash flows of the Term Loan B. The hedged risk was the interest rate risk exposure to changes in the interest payments, attributable to changes in the benchmark three month LIBOR interest rates (subject to a 1.0% LIBOR index floor) from December 29, 2015 through December 31, 2018. As amended, the LIBOR floor index was lowered to 0.75% on September 30, 2016, and our intent regarding future interest rate resets changed. Three-month LIBOR was above the floor, and it was more economical to use one month LIBOR. Therefore, our intentions called into question the probability of the amounts deferred in accumulated other comprehensive income (“AOCI”) as the forecasted transactions would not be probable. As a result, we chose to discontinue hedge accounting, reclassified all amounts in AOCI to earnings, and began to account for the interest rate swap on a mark-to-market mark-to-market The inputs for determining fair value of the interest rate swap are classified as Level 2 inputs. 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 Consolidated Balance Sheet included within other current assets and other non-current non-current As of March 31, 2017, we reported no gains or losses in AOCI related to the interest rate swaps. Additionally, during 2016 when the interest rate swap was accounted for in accordance with hedge accounting, the periodic settlements and related reclassification of other comprehensive income was $1.4 million of net hedging losses on the interest rate swap in the interest expense line on the Consolidated Statements of Operations. We recognized $0.5 million of interest rate swap settlements for the first quarter of 2017 in Derivative losses on change in interest rate swap fair value line on the Consolidated Statement of Operations. If there are no changes in the interest rates for the next twelve months, we expect $1.5 million in cash payments related to the interest rates swap. See the following “Derivatives’ Hedging Relationships” section of this Note for more information regarding the impact of the interest rate swaps on our Condensed Consolidated Financial Statements. Derivatives’ Hedging Relationships Amount recognized in Other Location of gain/(loss) reclassified from Pre-tax amount of gain/(loss) AOCI in Net Income March 31, December 31, Net Income (effective March 31, December 31, Derivatives’ Cash Flow Hedging Relationships 2017 2016 portion) 2017 2016 Forward starting interest rate swap contract $ — $ — Interest Expense $ — $ (1,393 ) $ — $ — $ — $ (1,393 ) As of March 31, 2017, we did not own derivative instruments that were classified as fair value hedges or trading securities. In addition, as of March 31, 2017, we did not own derivative instruments containing credit risk contingencies.

Restructuring and Integration

Restructuring and Integration	3 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Integration	Note 13. Restructuring and Integration Restructuring and integration costs totaling $0.1 million and $2.5 million were recognized in the three months ended March 31, 2017 and 2016. Within the Precision Bearing Components Group, restructuring initiatives to optimize operations in the U.S., Italy, the Netherlands, Mexico and at segment headquarters resulted in a charge of $0.1 and $0.7 million for the three months ended March 31, 2017 and 2016, respectively. These charges consisted primarily of severance and other employee costs relating to personnel reductions. Within the Autocam Precision Components Group, certain restructuring programs, including the closure of one facility, the Wheeling Plant, resulted in a charge of $10 thousand and $1.5 million for the three months ended March 31, 2017 and 2016, respectively. Within the Precision Engineered Products Group, initiatives resulted in integration, site closure and employee costs of $0.3 million for the three months ended March 31, 2016. There were no charges in the three months ended March 31, 2017. The following table summarizes restructuring and integration activity related to actions incurred for the three months ended March 31, 2017 and 2016: Three Months Ended 2017 2016 Severance and other employee costs $ 140 $ 1,576 Site closure and other associated costs — 926 Integration and other associated costs — 36 Total $ 140 $ 2,538 Reserve Balance at Charges Paid in Reserve Severance and other employee costs $ 3,019 $ 140 $ (1,360 ) $ 1,799 Site closure and other associated costs 1,626 — (449 ) 1,177 Integration and other associated costs — — — — Total $ 4,645 $ 140 $ (1,809 ) $ 2,976 The total restructuring and impairment costs are still being identified at the various segments; therefore, we are not able to estimate the ultimate costs at this time. We will include in future filings updates to these activities along with a reconciliation of beginning and ending liabilities recorded. The amounts recorded for the three months ended March 31, 2017 for restructuring charges that have been incurred are primarily expected to be paid out during 2017. Some amounts related to foreign locations extend through 2021.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Event	Note 14. Subsequent Event In April 2017, we redeemed our Senior Notes for $281.6 million resulting in a loss on debt extinguishment of $36.3 million. The Senior Notes were redeemed with the proceeds of a new $300 million Incremental Term Loan (the “Incremental Term Loan”) that was added by amendment to our existing Senior Secured Term Loan. The interest rate on the Incremental Term Loan was priced at LIBOR plus 3.75%, and the Incremental Term Loan has a maturity date of April 3, 2021.

Interim Financial Statements (P

Interim Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Recently Issued Accounting Standards	Issuance of New Accounting Standards In May 2014, the FASB issued accounting guidance that provides a single, comprehensive revenue recognition model for all contracts with customers and supersedes most of the existing revenue recognition requirements. Under this guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued accounting guidance that delayed the effective date of this standard by one year, making the guidance effective for fiscal years beginning after December 15, 2017. The new revenue guidance may impact the timing of recognition for certain Company’s customer incentives. Factors that will affect pre-and On February 25, 2016, the FASB issued ASU 2016-02, 2016-02”). 2016-02 2016-02 The FASB issued ASU 2016-15 2016-15”). During January 2017, the FASB issued ASU 2017-04 Except for per share data or as otherwise indicated, all dollar amounts presented in the tables in these Notes to the Condensed Consolidated Financial Statements are in thousands.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are comprised of the following: March 31, December 31, Raw materials $ 51,022 $ 49,205 Work in process 32,829 31,348 Finished goods 32,710 34,298 Inventories $ 116,561 $ 114,851

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Summary of Net Income Per Share	Three Months Ended 2017 2016 Net income (loss) $ 7,407 $ (1,299 ) Weighted average shares outstanding 27,303 26,869 Effect of dilutive stock options 331 — Diluted shares outstanding 27,634 26,869 Basic net income (loss) per share $ 0.27 $ (0.05 ) Diluted net income (loss) per share $ 0.27 $ (0.05 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Precision Autocam Precision Corporate and Total Three Months ended March 31, 2017 Revenues from external customers $ 68,759 $ 86,446 $ 71,109 $ — $ 226,314 Income (loss) from operations $ 8,402 $ 10,601 $ 10,914 $ (7,759 ) $ 22,158 Total assets $ 226,829 $ 428,512 $ 727,418 $ 8,284 $ 1,391,043 Three Months ended March 31, 2016 Revenues from external customers $ 64,745 $ 83,990 $ 63,491 $ — $ 212,226 Income (loss) from operations $ 6,326 $ 6,527 $ 5,421 $ (6,400 ) $ 11,874 Total assets $ 227,852 $ 426,741 $ 737,956 $ 3,068 $ 1,395,617

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt at March 31, 2017 and December 31, 2016 consisted of the following: March 31, December 31, $545.0 million Senior Secured Term Loan B (“Senior Secured Term Loan”) bearing interest at the greater of 0.75% or 1 month LIBOR (0.98% at March 31, 2017) plus an applicable margin of 4.25% at March 31, 2017, expiring October 19, 2022, net of debt issuance costs of $18.2 million at March 31, 2017 and $19.0 million at December 31, 2016. $ 523,884 $ 524,539 $143.0 million Senior Secured Revolver (“Senior Secured Revolver”) bearing interest at LIBOR (0.98% at March 31, 2017) plus an applicable margin of 3.50% at March 31, 2017, expiring October 19, 2020, net of debt issuance costs of $2.5 million at March 31, 2017 and $2.7 million at December 31, 2016. 38,021 25,298 $250.0 million Senior Notes (“Senior Notes”)bearing interest at 10.25%, maturing on November 1, 2020, net of debt issuance costs of $4.7 million at March 31, 2017 and $4.9 million at December 31, 2016. 245,340 245,077 French Safeguard Obligations (Autocam) 363 358 Brazilian lines of credit and equipment notes (Autocam) 489 573 Chinese line of credit (Autocam) 2,106 2,619 Total debt 810,203 798,464 Less current maturities of long-term debt 10,753 12,751 Long-term debt, excluding current maturities of long-term debt $ 799,450 $ 785,713

Goodwill, Net (Tables)

Goodwill, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill, net, for the three months ended March 31, 2017 are as follows: Precision Autocam Precision Total Balance as of December 31, 2016 $ 8,909 $ 70,717 $ 370,685 $ 450,311 Currency impacts 88 104 944 1,136 Balance as of March 31, 2017 $ 8,997 $ 70,821 $ 371,629 $ 451,447

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Intangible Assets, Net	The changes in the carrying amount of intangible assets, net, for the three months ended March 31, 2017 are as follows: Precision Autocam Components Precision Total Balance as of December 31, 2016 $ 1,718 $ 42,928 $ 211,335 $ 255,981 Amortization (52 ) (874 ) (4,966 ) (5,892 ) Currency impacts 16 7 — 23 Balance as of March 31, 2017 $ 1,682 $ 42,061 $ 206,369 $ 250,112

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Share-Based Compensation Expense	The share-based compensation expense during the three months ended March 31, 2017 and 2016 consisted of the following: Three Months Ended 2017 2016 Stock options $ 381 $ 202 Restricted stock 460 648 Performance share units 311 151 Share-based compensation $ 1,152 $ 1,001
Reconciliation of Option Activity	The following table provides a reconciliation of option activity for the three months ended March 31, 2017: Options Shares (000) Weighted- Weighted- Aggregate Outstanding at January 1, 2017 897 $ 12.22 Granted 126 24.20 Exercised (81 ) 11.45 Forfeited or expired (2 ) 13.29 Outstanding at March 31, 2017 940 $ 13.88 6.5 $ 10,643 (1) Exercisable at March 31, 2017 694 $ 12.11 5.4 $ 9,081 (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, 2017.
Stock Option [Member]
Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant	the Black Scholes financial pricing model to estimate the fair value. The weighted average assumptions relevant to determining the fair value of the 2017 stock option grants are below: 2017 Term 6 years Risk free interest rate 2.03 % Dividend yield 1.16 % Expected volatility 56.56 % Expected forfeiture rate 3.00 %

Investment in Non-Consolidate28

Investment in Non-Consolidated Joint Venture (Tables)	3 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Components of Joint Venture Investment	Below are the components of our JV investment balance and activity for the period ending March 31, 2017: Balance as of December 31, 2016 $ 40,694 Our share of cumulative earnings 1,807 Accretion of basis difference from purchase accounting (114 ) Balance as of March 31, 2017 $ 42,387
Summarized Balance Sheet Information for Joint Venture	The following table summarizes balance sheet information for the JV: March 31, December 31, Current assets $ 37,441 $ 31,295 Non-current 23,463 22,522 Total assets $ 60,904 $ 53,817 Current liabilities $ 15,853 $ 13,549 Total liabilities $ 15,853 $ 13,549

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Effect of Financial Assets and Liabilities Valued on Recurring Basis	The following table summarizes the assets and liabilities measured at fair value on a recurring basis for our interest rate swap derivative financial instrument: Fair Value Measurements at March 31, 2017 Description March 31, Quoted Prices in Significant Other Significant Derivative asset - current $ 4 $ — $ 4 $ — Derivative asset - noncurrent 7 — 7 — Derivative liability - current (1,485 ) — (1,485 ) — Derivative liability - noncurrent (636 ) — (636 ) — $ (2,110 ) $ — $ (2,110 ) $ — Fair Value Measurements at December 31, 2016 Description December 31, Quoted Prices in Significant Other Significant Derivative asset - current $ 69 $ — $ 69 $ — Derivative asset - noncurrent 6 — 6 — Derivative liability - current (1,903 ) — (1,903 ) — Derivative liability - noncurrent (1,028 ) — (1,028 ) — $ (2,856 ) $ — $ (2,856 ) $ —
Effect of Derivatives' Hedging Relationships	Amount recognized in Other Location of gain/(loss) reclassified from Pre-tax amount of gain/(loss) AOCI in Net Income March 31, December 31, Net Income (effective March 31, December 31, Derivatives’ Cash Flow Hedging Relationships 2017 2016 portion) 2017 2016 Forward starting interest rate swap contract $ — $ — Interest Expense $ — $ (1,393 ) $ — $ — $ — $ (1,393 )

Restructuring and Integration (

Restructuring and Integration (Tables)	3 Months Ended
	Mar. 31, 2017
Wheeling Plant [Member]
Summary of Restructuring and Integration Charges	The following table summarizes restructuring and integration activity related to actions incurred for the three months ended March 31, 2017 and 2016: Three Months Ended 2017 2016 Severance and other employee costs $ 140 $ 1,576 Site closure and other associated costs — 926 Integration and other associated costs — 36 Total $ 140 $ 2,538 Reserve Balance at Charges Paid in Reserve Severance and other employee costs $ 3,019 $ 140 $ (1,360 ) $ 1,799 Site closure and other associated costs 1,626 — (449 ) 1,177 Integration and other associated costs — — — — Total $ 4,645 $ 140 $ (1,809 ) $ 2,976

Interim Financial Statements -

Interim Financial Statements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017SegmentManufacturingPlants
Quarterly Financial Information Disclosure [Abstract]
Number of manufacturing plants | ManufacturingPlants	40
Number of reportable segments | Segment	3

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 51,022	$ 49,205
Work in process	32,829	31,348
Finished goods	32,710	34,298
Inventories	$ 116,561	$ 114,851

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventory on consignment at customers' location	$ 4.4	$ 5

Net Income Per Share - Summary

Net Income Per Share - Summary of Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income (Loss)	$ 7,407	$ (1,299)
Weighted average shares outstanding	27,303	26,869
Effect of dilutive stock options	331
Diluted shares outstanding	27,634	26,869
Basic net income (loss) per share	$ 0.27	$ (0.05)
Diluted net income (loss) per share	$ 0.27	$ (0.05)

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Option [Member]
Net Income Per Share [Line Items]
Anti-dilutive securities excluded from the calculation of diluted earnings per share	0.6	0.8

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Segment I

Segment Information - Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers	$ 226,314	$ 212,226
Income (loss) from operations	22,158	11,874
Total assets	1,391,043	1,395,617	$ 1,360,386
Precision Bearing Components Group [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	68,759	64,745
Income (loss) from operations	8,402	6,326
Total assets	226,829	227,852
Autocam Precision Components Group [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	86,446	83,990
Income (loss) from operations	10,601	6,527
Total assets	428,512	426,741
Precision Engineered Products Group [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	71,109	63,491
Income (loss) from operations	10,914	5,421
Total assets	727,418	737,956
Corporate and Consolidations [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations	(7,759)	(6,400)
Total assets	$ 8,284	$ 3,068

Long Term Debt - Summary of Lon

Long Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 810,203	$ 798,464
Less current maturities of long-term debt	10,753	12,751
Long-term debt, excluding current maturities of long-term debt	799,450	785,713
Senior Notes Due 2020 [Member]
Debt Instrument [Line Items]
Senior debt	245,340	245,077
French Safeguard [Member]
Debt Instrument [Line Items]
French Safeguard Obligations	363	358
Brazilian [Member]
Debt Instrument [Line Items]
Line of credit	489	573
Chinese [Member]
Debt Instrument [Line Items]
Line of credit	2,106	2,619
Senior Secured Term Loan B [Member]
Debt Instrument [Line Items]
Senior debt	523,884	524,539
Senior Secured Revolving Facility [Member]
Debt Instrument [Line Items]
Line of credit	$ 38,021	$ 25,298

Long Term Debt - Summary of L39

Long Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Senior Notes Due 2020 [Member]
Debt Instrument [Line Items]
Borrowings	$ 250,000,000
Interest rate	10.25%
Debt maturity date	Nov. 1, 2020
Debt issuance costs	$ 4,700,000	$ 4,900,000
Senior Secured Term Loan B [Member]
Debt Instrument [Line Items]
Borrowings	$ 545,000,000
Interest rate	0.98%
Applicable margin	4.25%
Debt issuance costs	$ 18,200,000	19,000,000
LIBOR Period	1 month
Debt maturity date	Oct. 19, 2022
Senior Secured Term Loan B [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	0.75%
Senior Secured Term Loan B [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate	0.75%
Senior Secured Revolving Facility [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 2,500,000	$ 2,700,000
Borrowings	$ 143,000,000
Debt maturity date	Oct. 19, 2020
Senior Secured Revolving Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate	0.98%
Applicable margin	3.50%

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
French Safeguard [Member]
Line of Credit Facility [Line Items]
Interest rate	0.00%
French Safeguard Obligations	$ 363	$ 358
Current maturities of French Safeguard obligations	100
Noncurrent maturities of French Safeguard obligations	$ 300
Chinese [Member]
Line of Credit Facility [Line Items]
Lines of credit annual interest rate	4.60%
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 annual interest rate	2.50%
Maximum [Member] | Brazilian [Member]
Line of Credit Facility [Line Items]
Lines of credit annual interest rate	9.10%

Goodwill, Net - Changes in Carr

Goodwill, Net - Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill [Line Items]
Beginning Balance	$ 450,311
Currency impacts	1,136
Ending Balance	451,447
Precision Bearing Components Group [Member]
Goodwill [Line Items]
Beginning Balance	8,909
Currency impacts	88
Ending Balance	8,997
Autocam Precision Components Group [Member]
Goodwill [Line Items]
Beginning Balance	70,717
Currency impacts	104
Ending Balance	70,821
Precision Engineered Products Group [Member]
Goodwill [Line Items]
Beginning Balance	370,685
Currency impacts	944
Ending Balance	$ 371,629

Goodwill, Net - Additional Info

Goodwill, Net - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Changes in Carrying Amount of Intangible Assets, Net (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 255,981
Amortization	(5,892)
Currency impacts	23
Ending balance	250,112
Precision Bearing Components Group [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	1,718
Amortization	(52)
Currency impacts	16
Ending balance	1,682
Autocam Precision Components Group [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	42,928
Amortization	(874)
Currency impacts	7
Ending balance	42,061
Precision Engineered Products Group [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	211,335
Amortization	(4,966)
Ending balance	$ 206,369

Shared-Based Compensation - Sch

Shared-Based Compensation - Schedule of Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share units	$ 1,152	$ 1,001
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share units	381	202
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock	460	648
Performance Based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share units	$ 311	$ 151

Shared-Based Compensation - Add

Shared-Based Compensation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted | shares	126,000
Weighted average grant date fair value of the options granted	$ 11.84
Weighted-Average Exercise Price, Granted	$ 24.20
Model used to derive fair value	Monte Carlo valuation model
Performance Condition [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price, Granted	$ 24.20
Monte Carlo Valuation Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price, Granted	$ 29.84
Performance Based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense period	3 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units granted | shares	83,135
Fair value assumptions, exercise price	$ 24.20
Non-executive Directors [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock issue	1 year
Officers and Key Employees [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units granted | shares	98,618
Vesting period of stock issue	3 years

Shared-Based Compensation - Wei

Shared-Based Compensation - Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant (Detail) - Stock Option [Member]	3 Months Ended
	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	6 years
Risk free interest rate	2.03%
Dividend yield	1.16%
Expected volatility	56.56%
Expected forfeiture rate	3.00%

Shared-Based Compensation - Rec

Shared-Based Compensation - Reconciliation of Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Outstanding, Beginning Balance | shares	897
Number of Options, Granted | shares	126
Number of Options, Exercised | shares	(81)
Number of Options, Forfeited or expired | shares	(2)
Number of Options, Outstanding, Ending Balance | shares	940
Number of Options, Options Exercisable | shares	694
Weighted-Average Exercise Price, Outstanding, Beginning Balance | $ / shares	$ 12.22
Weighted-Average Exercise Price, Granted | $ / shares	24.20
Weighted-Average Exercise Price, Exercised | $ / shares	11.45
Weighted-Average Exercise Price, Forfeited or expired | $ / shares	13.29
Weighted-Average Exercise Price, Outstanding, Ending Balance | $ / shares	13.88
Weighted-Average Exercise Price, Options exercisable | $ / shares	$ 12.11
Weighted-Average Remaining Contractual Term, Outstanding	6 years 6 months
Weighted- Average Remaining Contractual Term, Options exercisable	5 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding | $	$ 10,643
Aggregate Intrinsic Value, Options exercisable | $	$ 9,081

Provision for Income Taxes - Ad

Provision for Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Effective tax rate on non deductible expense	29.00%	21.00%
U.S. federal statutory rate	34.00%	34.00%
Unrecognized tax benefits	$ 0.6
Reduction in income tax expense	$ 0.5

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Mar. 31, 2017USD ($)
Contingencies And Commitments [Line Items]
Amount accrued for estimation of loss	$ 0
Minimum [Member]
Contingencies And Commitments [Line Items]
Possible loss estimated	0
Maximum [Member]
Contingencies And Commitments [Line Items]
Possible loss estimated	$ 6,000,000

Investment in Non-Consolidate50

Investment in Non-Consolidated Joint Venture - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Net sales	$ 226,314	$ 212,226
Autocam [Member] | Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	100
Amount due from joint venture	$ 100
Wuxi Weifu Autocam Precision Machinery Company, Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Investment in joint venture	49.00%

Investment in Non-Consolidate51

Investment in Non-Consolidated Joint Venture - Components of Joint Venture Investment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Beginning Balance	$ 40,694
Our share of cumulative earnings	1,693	$ 1,400
Ending Balance	42,387
Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Beginning Balance	40,694
Our share of cumulative earnings	1,807
Accretion of basis difference from purchase accounting	(114)
Ending Balance	$ 42,387

Investment in Non-Consolidate52

Investment in Non-Consolidated Joint Venture - Summarized Balance Sheet Information for Joint Venture (Detail) - Joint Venture [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Current assets	$ 37,441	$ 31,295
Non-current assets	23,463	22,522
Total assets	60,904	53,817
Current liabilities	15,853	13,549
Total liabilities	$ 15,853	$ 13,549

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Fair value of fixed-rate debt	$ 250,100,000
Fair value of fixed-rate debt, net of debt issuance costs	245,400,000
Amount of interest rate swap	$ 150,000,000
Description of term of interest rate swap	Our $150 million interest rate swap went into effect on December 29, 2015, at which time our interest rate was effectively 6.966%.
Locked interest rate	6.966%
Derivative maturity date	Dec. 31, 2018
Derivative inception date	Dec. 29, 2015
Derivative in Net liability position	$ 2,100,000
Gain or loss related to interest rate swaps	0	$ 0
Interest rate swap settlements in derivative losses	500,000
Amount to be reclassified from accumulated and other comprehensive income in next twelve months	0
Cash payments related to the interest rates swap	1,500,000
Accumulated Other Comprehensive Income (loss) [Member]
Derivatives, Fair Value [Line Items]
Gain or loss related to interest rate swaps	$ 0
Minimum [Member] | Senior Secured Term Loan B [Member]
Derivatives, Fair Value [Line Items]
Interest rate	0.75%
Minimum [Member] | Senior Secured Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivatives, Fair Value [Line Items]
Interest rate	0.75%
Maximum [Member] | Senior Secured Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivatives, Fair Value [Line Items]
Interest rate	1.00%

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Valued on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative asset - current	$ 4	$ 69
Derivative asset - noncurrent	7	6
Derivative liability - current	(1,485)	(1,903)
Derivative liability - noncurrent	(636)	(1,028)
Derivative assets and liabilities, Total	(2,110)	(2,856)
Significant Other Observable Inputs (Level 2) [Member]
Derivatives, Fair Value [Line Items]
Derivative asset - current	4	69
Derivative asset - noncurrent	7	6
Derivative liability - current	(1,485)	(1,903)
Derivative liability - noncurrent	(636)	(1,028)
Derivative assets and liabilities, Total	$ (2,110)	$ (2,856)

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives' Cash Flow Hedging Relationships (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount recognized in Other Comprehensive Income (effective portion)	$ 0	$ 0
Pre-tax amount of gain/(loss) reclassified from AOCI in Net Income (effective portion)		(1,393)
Interest Expense [Member] | Forward Starting Interest Rate Swap Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount recognized in Other Comprehensive Income (effective portion)	$ 0	0
Pre-tax amount of gain/(loss) reclassified from AOCI in Net Income (effective portion)		$ (1,393)

Restructuring and Integration -

Restructuring and Integration - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and integration cost	$ 100,000	$ 2,500,000
Precision Engineered Products Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and integration cost	0	300,000
Precision Bearing Components Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and integration cost	100,000	700,000
Wheeling Plant [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and integration cost	140,000
Wheeling Plant [Member] | Autocam Precision Components Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and integration cost	$ 10,000	$ 1,500,000

Restructuring and Integration57

Restructuring and Integration - Summary of Restructuring and Integration Charges (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Total	$ 140	$ 2,538
Charges	100	2,500
Wheeling Plant [Member]
Restructuring Cost and Reserve [Line Items]
Severance and other employee costs	140	1,576
Site closure and other associated costs		926
Integration and other associated costs		36
Total	140	$ 2,538
Reserve beginning balance	4,645
Charges	140
Paid in	(1,809)
Reserve ending balance	2,976
Wheeling Plant [Member] | Severance and Other Employee Costs [Member]
Restructuring Cost and Reserve [Line Items]
Reserve beginning balance	3,019
Charges	140
Paid in	(1,360)
Reserve ending balance	1,799
Wheeling Plant [Member] | Site Closure and Other Associated Costs [Member]
Restructuring Cost and Reserve [Line Items]
Reserve beginning balance	1,626
Paid in	(449)
Reserve ending balance	$ 1,177

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Apr. 30, 2017USD ($)
Senior Notes [Member]
Subsequent Event [Line Items]
Outstanding amount of notes redeemed	$ 281.6
Loss on debt extinguishment	36.3
Incremental Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Amended Senior Secured Term Loan [Member]
Subsequent Event [Line Items]
Debt instrument face amount	$ 300
Basis spread on variable rate	3.75%
Debt maturity date	Apr. 3, 2021