Standard Motor Products (SMP) 10-Q 31 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 28, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	STANDARD MOTOR PRODUCTS INC
Entity Central Index Key	93,389
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		22,820,134
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]
Net sales	$ 269,382	$ 272,540	$ 496,971	$ 505,292
Cost of sales	196,622	195,141	360,322	359,983
Gross profit	72,760	77,399	136,649	145,309
Selling, general and administrative expenses	51,736	48,847	100,934	96,441
Litigation charge	0	10,650	0	10,650
Restructuring and integration expenses	(26)	555	31	726
Other income, net	262	273	543	533
Operating income	21,312	17,620	36,227	38,025
Other non-operating income (expense), net	548	307	699	(106)
Interest expense	480	457	906	765
Earnings from continuing operations before taxes	21,380	17,470	36,020	37,154
Provision for income taxes	7,572	6,301	12,873	13,578
Earnings from continuing operations	13,808	11,169	23,147	23,576
Loss from discontinued operations, net of income taxes	(430)	(529)	(821)	(1,211)
Net earnings	$ 13,378	$ 10,640	$ 22,326	$ 22,365
Net earnings per common share - Basic:
Earnings from continuing operations (in dollars per share)	$ 0.60	$ 0.49	$ 1.01	$ 1.03
Discontinued operations (in dollars per share)	(0.02)	(0.02)	(0.04)	(0.05)
Net earnings per common share - Basic (in dollars per share)	0.58	0.47	0.97	0.98
Net earnings per common share - Diluted:
Earnings from continuing operations (in dollars per share)	0.59	0.48	1	1.02
Discontinued operations (in dollars per share)	(0.01)	(0.02)	(0.04)	(0.06)
Net earnings per common share - Diluted (in dollars per share)	0.58	0.46	0.96	0.96
Dividends declared per share (in dollars per share)	$ 0.15	$ 0.13	$ 0.30	$ 0.26
Average number of common shares (in shares)	22,917,718	22,874,002	22,914,322	22,910,419
Average number of common shares and dilutive common shares (in shares)	23,261,094	23,196,713	23,256,255	23,219,055

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net earnings	$ 13,378	$ 10,640	$ 22,326	$ 22,365
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	822	(141)	(2,252)	(731)
Amortization of:
Prior service benefit	(29)	(755)	(58)	(1,509)
Unrecognized loss	512	546	1,130	1,138
Unrecognized actuarial gains	421	150	421	150
Foreign currency exchange rate changes	25	(3)	33	(25)
Income tax (expense) benefit related to pension and postretirement plans	(367)	17	(608)	75
Pension and postretirement plans, net of tax	562	(45)	918	(171)
Total other comprehensive income (loss), net of tax	1,384	(186)	(1,334)	(902)
Comprehensive income	$ 14,762	$ 10,454	$ 20,992	$ 21,463

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 12,704	$ 13,728
Accounts receivable, less allowances for discounts and doubtful accounts of $6,135 and $6,369 for 2015 and 2014, respectively	160,618	126,524
Inventories	277,261	278,051
Deferred income taxes	36,667	36,534
Prepaid expenses and other current assets	12,686	11,196
Total current assets	499,936	466,033
Property, plant and equipment, net	68,263	64,611
Goodwill	54,999	54,975
Other intangibles, net	31,836	34,402
Deferred incomes taxes	14,165	14,941
Other assets	40,060	38,589
Total assets	709,259	673,551
CURRENT LIABILITIES:
Notes payable	52,916	56,558
Current portion of long-term debt	69	175
Accounts payable	88,939	70,674
Sundry payables and accrued expenses	47,342	49,412
Accrued customer returns	39,285	30,621
Accrued rebates	29,933	26,076
Payroll and commissions	16,206	17,313
Total current liabilities	274,690	250,829
Long-term debt	69	83
Other accrued liabilities	14,609	15,024
Accrued asbestos liabilities	33,294	33,462
Total liabilities	$ 322,662	$ 299,398
Commitments and contingencies
Stockholders' equity:
Common stock - par value $2.00 per share: Authorized - 30,000,000 shares; issued 23,936,036 shares	$ 47,872	$ 47,872
Capital in excess of par value	94,202	91,411
Retained earnings	274,610	259,160
Accumulated other comprehensive income	(3,986)	(2,652)
Treasury stock - at cost (1,115,902 shares and 1,043,064 shares in 2015 and 2014, respectively)	(26,101)	(21,638)
Total stockholders' equity	386,597	374,153
Total liabilities and stockholders' equity	$ 709,259	$ 673,551

CONSOLIDATED BALANCE SHEETS (U5

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Accounts receivable, allowances for discounts and doubtful accounts	$ 6,135	$ 6,369
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 2	$ 2
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	23,936,036	23,936,036
Treasury stock - at cost (in shares)	1,115,902	1,043,064

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 22,326	$ 22,365
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	8,552	8,440
Amortization of deferred financing cost	348	350
Increase (decrease) to allowance for doubtful accounts	39	(359)
Increase to inventory reserves	396	1,960
Amortization of deferred gain on sale of building	(524)	(524)
Equity income from joint ventures	(966)	(147)
Employee Stock Ownership Plan allocation	1,104	913
Stock-based compensation	2,927	2,397
Excess tax benefits related to exercise of employee stock grants	(130)	(152)
Increase in deferred income taxes	(53)	(273)
Loss on discontinued operations, net of tax	821	1,211
Change in assets and liabilities:
Increase in accounts receivable	(34,563)	(16,149)
Increase in inventories	(820)	(19,527)
Increase in prepaid expenses and other current assets	(489)	(6,702)
Increase in accounts payable	18,327	13,847
Increase in sundry payables and accrued expenses	9,947	13,526
Net change in other assets and liabilities	(1,070)	(3,558)
Net cash provided by operating activities	26,172	17,618
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of and investments in businesses	0	(37,726)
Capital expenditures	(10,184)	(6,379)
Other investing activities	26	11
Net cash used in investing activities	(10,158)	(44,094)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (repayments) under line-of-credit agreements	(3,642)	37,664
Principal payments of long-term debt and capital lease obligations	(119)	(44)
Purchase of treasury stock	(7,046)	(5,860)
Increase in overdraft balances	279	1,784
Proceeds from exercise of employee stock options	109	97
Excess tax benefits related to the exercise of employee stock grants	130	152
Dividends paid	(6,876)	(5,955)
Net cash provided by (used in) financing activities	(17,165)	27,838
Effect of exchange rate changes on cash	127	(704)
Net increase (decrease) in cash and cash equivalents	(1,024)	658
CASH AND CASH EQUIVALENTS at beginning of period	13,728	5,559
CASH AND CASH EQUIVALENTS at end of period	12,704	6,217
Cash paid during the period for:
Interest	558	370
Income taxes	$ 13,987	$ 18,516

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2014	$ 47,872	$ 91,411	$ 259,160	$ (2,652)	$ (21,638)	$ 374,153
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	22,326	0	0	22,326
Other comprehensive income (loss), net of tax	0	0	0	(1,334)	0	(1,334)
Cash dividends paid	0	0	(6,876)	0	0	(6,876)
Purchase of treasury stock	0	0	0	0	(7,046)	(7,046)
Stock-based compensation and related tax benefits	0	1,809	0	0	1,169	2,978
Stock options exercised and related tax benefits	0	(19)	0	0	207	188
Employee Stock Ownership Plan	0	1,001	0	0	1,207	2,208
Balance at Jun. 30, 2015	$ 47,872	$ 94,202	$ 274,610	$ (3,986)	$ (26,101)	$ 386,597

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Standard Motor Products, Inc. and subsidiaries (referred to as the “Company,” “we,” “us,” or “our”) is engaged in the manufacture and distribution of replacement parts for motor vehicles in the automotive aftermarket industry with an increasing focus on the original equipment service market. The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014. The unaudited consolidated financial statements include our accounts and all domestic and international companies in which we have more than a 50% equity ownership. Our investments in unconsolidated affiliates are accounted for on the equity method, as we do not have a controlling financial interest. All significant inter-company items have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The preparation of consolidated annual and quarterly financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. We have made a number of estimates and assumptions in the preparation of these consolidated financial statements. We can give no assurance that actual results will not differ from those estimates. Some of the more significant estimates include allowances for doubtful accounts, realizability of inventory, goodwill and other intangible assets, depreciation and amortization of long-lived assets, product liability, pensions and other postretirement benefits, asbestos, environmental and litigation matters, the valuation of deferred tax assets and sales return allowances. There have been no material changes to our critical accounting policies and estimates from the information provided in Recently Issued Accounting Pronouncements Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity which . effective for annual reporting periods beginning after December 15, 2014. . Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. effective for annual reporting periods beginning after December 15, 2016, which for us is January 1, 2017, In July 2015, the FASB agreed to defer by one year the effective date of the new standard. The new standard is now effective for annual reporting periods beginning after December 15, 2017, which for us is January 1, 2018, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern In August 2014, the FASB issued ASU Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern which . effective for annual reporting periods ending after December 15, 2016, which for us is December 31, 2016, Income Statement - Extraordinary and Unusual Items In January 2015, the FASB issued ASU Income Statement – Extraordinary and Unusual Items, which Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU Simplifying the Presentation of Debt Issuance Costs, which In June 2015, at the Emerging Issues Task Force meeting, the FASB clarified that ASU 2015-03 does not address debt issuance costs related to revolving credit debt arrangements. In connection therewith, at the June 2015 meeting, the SEC staff announced that it would not object to the presentation of issuance costs related to revolving debt arrangements as an asset that is amortized over the term of the arrangement. Currently, we present debt financing costs related to our revolving credit facility debt as an asset in our consolidated balance sheets. We are currently evaluating ASU 2015-03, and have not yet concluded as to the impact it will have on our consolidated financial statements upon adoption.

Restructuring and Integration C

Restructuring and Integration Costs	6 Months Ended
	Jun. 30, 2015
Restructuring and Integration Costs [Abstract]
Restructuring and Integration Costs	Note 3. Restructuring and Integration Costs The aggregated liabilities included in “sundry payables and accrued expenses” and “other accrued liabilities” in the consolidated balance sheet relating to the restructuring and integration activities as of December 31, 2014 and June 30, 2015 and activity for the six months ended June 30, 2015 consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2014 $ 947 $ 729 $ 1,676 Restructuring and integration costs: Amounts provided for during 2015 (24 ) 55 31 Cash payments (384 ) (166 ) (550 ) Exit activity liability at June 30 $ 539 $ 618 $ 1,157 Liabilities associated with the remaining restructuring and integration costs as of June 30, 2015 relate primarily to employee severance and other retiree benefit enhancements to be paid through 2019 and environmental clean-up costs at our Long Island City, New York location in connection with the closure of our manufacturing operations at the site

Sale of Receivables

Sale of Receivables	6 Months Ended
	Jun. 30, 2015
Sale of Receivables [Abstract]
Sale of Receivables	Note 4. Sale of Receivables From time to time, we sell undivided interests in certain of our receivables to financial institutions. We enter these agreements at our discretion when we determine that the cost of factoring is less than the cost of servicing our receivables with existing debt. Under the terms of the agreements, we retain no rights or interest, have no obligations with respect to the sold receivables, and do not service the receivables after the sale. As such, these transactions are being accounted for as a sale. Pursuant to these agreements, we sold $196.6 million and $340.6 million of receivables during the three months and six months ended June ,

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventories [Abstract]
Inventories, Net	Note 5. Inventories Inventories, which are stated at the lower of cost (determined by means of the first-in, first-out method) or market, consist of the following: June 30, 2015 December 31, 2014 (In thousands) Finished goods $ 180,249 $ 185,655 Work-in-process 5,770 4,722 Raw materials 91,242 87,674 Total inventories $ 277,261 $ 278,051

Acquired Intangible Assets

Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2015
Acquired Intangible Assets [Abstract]
Acquired Intangible Assets	Note 6. Acquired Intangible Assets Acquired identifiable intangible assets consist of the following: June 30, 2015 December 31, 2014 (In thousands) Customer relationships $ 48,696 $ 48,646 Trademarks and trade names 6,800 6,800 Non-compete agreements 970 970 Patents and supply contracts 723 723 Leaseholds 160 160 Total acquired intangible assets 57,349 57,299 Less accumulated amortization (1) (26,661 ) (24,120 ) Net acquired intangible assets $ 30,688 $ 33,179 (1) Applies to all intangible assets, except for trademarks and trade names totaling $5.2 million, which have indefinite useful lives and, as such, are not being amortized. Total amortization expense for acquired intangible assets was $1.2 million and $2.5 million for the three months and six months ended June 30, 2015, respectively, and $1.2 million and $2.4 million for the comparable periods in 2014. Based on the current estimated useful lives assigned to our acquired intangible assets, amortization expense is estimated to be $2.5 million for the remainder of 2015, $4.9 million in 2016, $4.7 million in 2017, $4.5 million in 2018 and $8.9 million in the aggregate for the years 2019 through 2028.

Credit Facilities and Long-Term

Credit Facilities and Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Credit Facilities and Long-Term Debt [Abstract]
Credit Facilities and Long-Term Debt	Note 7. Credit Facilities and Long-Term Debt Total debt outstanding is summarized as follows: June 30, 2015 December 31, 2014 (In thousands) Revolving credit facilities $ 52,916 $ 56,558 Other 138 258 Total debt $ 53,054 $ 56,816 Current maturities of debt $ 52,985 $ 56,733 Long-term debt 69 83 Total debt $ 53,054 $ 56,816 Deferred Financing Costs We had deferred financing costs of $1.9 million and $2.3 million as of June 30, 2015 and December 31, 2014, respectively. Deferred financing costs are related to our revolving credit facility. Deferred financing costs as of June 30, 2015 are being amortized in the amounts of $0.3 million for the remainder of 2015, $0.7 million in 2016, $0.7 million in 2017, and $0.2 million in 2018. Revolving Credit Facility We entered into the Third Amended and Restated Credit Agreement with General Electric Capital Corporation, as agent, and a syndicate of lenders for a secured revolving credit facility. The restated credit agreement (as amended) provides for a line of credit of up to $250 million (inclusive of the Canadian revolving credit facility described below) and expires in March 2018. Direct borrowings under the restated credit agreement bear interest at the LIBOR rate plus the applicable margin (as defined), or floating at the index rate plus the applicable margin, at our option. The interest rate may vary depending upon our borrowing availability. The restated credit agreement is guaranteed by certain of our subsidiaries and secured by certain of our assets. Borrowings under the restated credit agreement are collateralized by substantially all of our assets, including accounts receivable, inventory and fixed assets, and those of certain of our subsidiaries. After taking into account outstanding borrowings under the restated credit agreement, there was an additional $161.1 million available for us to borrow pursuant to the formula at June 30 December At June 30, 2015, the weighted average interest rate on our restated credit agreement was 1.8%, which consisted of $50 million in direct borrowings at 1.7% and an index loan of $2.9 million at 3.8%. At December At any time that our average borrowing availability is less than $25 million, the terms of our restated credit agreement provide for, among other provisions, a financial covenant requiring us, on a consolidated basis, to maintain specified levels of fixed charge coverage at the end of each fiscal quarter (rolling twelve months). As of June 30, Canadian Revolving Credit Facility Our Canadian Credit Agreement (as amended) with GE Canada Finance Holding Company, for itself and as agent for the lenders, provides for a $10 million revolving credit facility that expires in March 2018. The Canadian $10 million line of credit is part of the $250 million available for borrowing under our restated credit agreement with General Electric Capital Corporation. The Canadian Credit Agreement is guaranteed and secured by us and certain of our wholly-owned subsidiaries. Direct borrowings under the amended credit agreement bear interest at the same rate as our restated credit agreement with General Electric Capital Corporation. As of June 30, 2015, we have no outstanding borrowings under the Canadian Credit Agreement.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 8. Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income by Component Three Months Ended June 30, 2015 Foreign Currency Translation Adjustments Unrecognized Pension and Postretirement Benefit Costs (Credit) Total Balance at March 31, 2015 $ (3,293 ) $ (2,077 ) $ (5,370 ) Other comprehensive income before reclassifications 822 446 1,268 Amounts reclassified from accumulated other comprehensive income — 116 116 Other comprehensive income, net 822 562 1,384 Balance at June 30 $ (2,471 ) $ (1,515 ) $ (3,986 ) Six Months Ended June 30, 2015 Foreign Currency Translation Adjustments Unrecognized Pension and Postretirement Benefit Costs (Credit) Total Balance at December 31, 2014 $ (219 ) $ (2,433 ) $ (2,652 ) Other comprehensive income before reclassifications (2,252 ) 454 (1,798 ) Amounts reclassified from accumulated other comprehensive income — 464 464 Other comprehensive income, net (2,252 ) 918 (1,334 ) Balance at June 30 $ (2,471 ) $ (1,515 ) $ (3,986 ) Reclassifications Out of Accumulated Other Comprehensive Income Details About Accumulated Other Comprehensive Income Components Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Amortization of pension and postretirement benefit plans: Prior service benefit (1) $ (29 ) $ (58 ) Unrecognized loss (1) 512 1,130 Total before income tax 483 1,072 Income tax expense (367 ) (608 ) Total reclassifications for the period $ 116 $ 464 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 10 for additional details).

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation Plans [Abstract]
Stock-Based Compensation Plans	Note 9. Stock-Based Compensation Plans We account for our stock-based compensation plans in accordance with the provisions of FASB ASC 718, Stock Compensation Stock Option Grants The following is a summary of the changes in outstanding stock options for the six months ended June 30, 2015: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Outstanding at December 31, 2014 9,875 $ 10.99 0.4 Expired — — — Exercised (9,875 ) 10.99 — Forfeited, other — — — Outstanding at June 30, 2015 — $ — — Options exercisable at June 30, 2015 — $ — — The total intrinsic value of options exercised was $0.3 million for the six months ended June 30, 2015. There were no options granted in the six months ended June 30, 2015. Restricted and Performance Stock Grants As part of the 2006 Omnibus Incentive Plan, we currently grant shares of restricted stock to eligible employees and our independent directors and performance-based stock to eligible employees. Selected executives and other key personnel are granted performance awards whose vesting is contingent upon meeting various performance measures with a retention feature. Performance-based shares are subject to a three-year measuring period and the achievement of performance targets and, depending upon the achievement of such performance targets, they may become vested on the third anniversary of the date of grant. Each period we evaluate the probability of achieving the applicable targets, and we adjust our accrual accordingly. Restricted shares granted to employees become fully vested upon the third anniversary of the date of grant; and for selected key executives, certain additional restricted share grants vest 25% upon the attainment of age 60, 25% upon the attainment of age 63 and become fully vested upon the attainment of age 65. Restricted shares granted to directors become fully vested upon the first anniversary of the date of grant. Forfeitures on restricted stock grants are estimated at 5% for employees and 0% for executives and directors, respectively, based on our evaluation of historical and expected future turnover. Our restricted and performance-based share activity was as follows for the six months ended June 30, 2015: Shares Weighted Average Grant Date Fair Value Per Share Balance at December 31, 2014 749,018 $ 24.62 Granted 7,000 35.07 Vested (44,293 ) 34.47 Forfeited (2,675 ) 25.00 Balance at June 30, 2015 709,050 $ 24.10 We recorded compensation expense related to restricted shares and performance-based shares of $2.5 million ($1.6 million, net of tax) and $2 million ($1.3 million, net of tax) for the six months ended June 30, 2015 and 2014, respectively. The unamortized compensation expense related to our restricted and performance-based shares was $9.7 million at June 30, 2015, and is expected to be recognized as they vest over a weighted average period of 4.8 years and 0.8 years for employees and directors, respectively.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2015
Employee Benefits [Abstract]
Employee Benefits	Note 10. Employee Benefits The components of net periodic benefit cost (credit) for our defined benefit plans and postretirement benefit plans for the three months and six months ended June 30, 2015 and 2014 were as follows (in thousands): Three Months Ended Six Months Ended Pension benefits 2015 2014 2015 2014 Service cost $ — $ 41 $ — $ 82 Interest cost 55 65 109 130 Amortization of prior service cost — — — — Actuarial net loss 184 58 368 115 Net periodic benefit cost $ 239 $ 164 $ 477 $ 327 Postretirement benefits Service cost $ — $ — $ — $ — Interest cost 1 7 8 15 Amortization of prior service cost (29 ) (755 ) (58 ) (1,509 ) Actuarial net loss 328 488 762 1,023 Net periodic benefit cost (credit) $ 300 $ (260 ) $ 712 $ (471 ) For the six months ended June 30, 2015, we made employee benefit contributions of $0.5 million related to our postretirement plans. Based on current estimates, we believe we will be required to make approximately $1 million in contributions for 2015. We maintain a Supplemental Executive Retirement Plan (“SERP”) for key employees. Under the plan, these employees may elect to defer a portion of their compensation and, in addition, we may at our discretion make contributions to the plan on behalf of the employees. In March 2015, we made company contributions of $0.5 million related to calendar year 2014. We also have an Employee Stock Ownership Plan and Trust for employees who are not covered by a collective bargaining agreement. In connection therewith, we maintain an employee benefits trust to which we contribute shares of treasury stock. We are authorized to instruct the trustees to distribute such shares toward the satisfaction of our future obligations under the plan. The shares held in trust are not considered outstanding for purposes of calculating earnings per share until they are committed to be released. The trustees will vote the shares in accordance with their fiduciary duties. During 2015, we contributed to the trust an additional 58,000 shares from our treasury and released 58,200 shares from the trust leaving 200 shares remaining in the trust as of June 30, 2015.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 11. Fair Value Measurements We follow a three-level fair value hierarchy that prioritizes the inputs to measure fair value. This hierarchy requires entities to maximize the use of “observable inputs” and minimize the use of “unobservable inputs.” The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect assumptions that market participants would use in pricing an asset or liability. The following is a summary of the carrying amounts, estimated fair values, and classification under the fair value hierarchy of our financial instruments at June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents LEVEL 1 $ 12,704 $ 12,704 $ 13,728 $ 13,728 Deferred compensation LEVEL 1 10,919 10,919 9,811 9,811 Short term borrowings LEVEL 1 52,985 52,985 56,733 56,733 Long-term debt LEVEL 1 69 69 83 83 For fair value purposes the carrying value of cash and cash equivalents approximates fair value due to the short maturity of those investments. The fair value of the underlying assets held by the deferred compensation plan are based on the quoted market prices of the funds in registered investment companies. The carrying value of our revolving credit facilities, classified as short term borrowings, equals fair market value because the interest rate reflects current market rates.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share
Earnings Per Share	Note 12. Earnings Per Share The following are reconciliations of the earnings available to common stockholders and the shares used in calculating basic and dilutive net earnings per common share (in thousands, except per share data): Three Months Ended Six Months Ended 2015 2014 2015 2014 Basic Net Earnings Per Common Shares: Earnings from continuing operations $ 13,808 $ 11,169 $ 23,147 $ 23,576 Loss from discontinued operations (430 ) (529 ) (821 ) (1,211 ) Net earnings available to common stockholders $ 13,378 $ 10,640 $ 22,326 $ 22,365 Weighted average common shares outstanding 22,918 22,874 22,914 22,910 Earnings from continuing operations per common share $ 0.60 $ 0.49 $ 1.01 $ 1.03 Loss from discontinued operations per common share (0.02 ) (0.02 ) (0.04 ) (0.05 ) Basic net earnings per common share $ 0.58 $ 0.47 $ 0.97 $ 0.98 Diluted Net Earnings Per Common Share: Earnings from continuing operations $ 13,808 $ 11,169 $ 23,147 $ 23,576 Loss from discontinued operations (430 ) (529 ) (821 ) (1,211 ) Net earnings available to common stockholders $ 13,378 $ 10,640 $ 22,326 $ 22,365 Weighted average common shares outstanding 22,918 22,874 22,914 22,910 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 343 318 342 303 Dilutive effect of stock options - 5 - 6 Weighted average common shares outstanding –Diluted 23,261 23,197 23,256 23,219 Earnings from continuing operations per common share $ 0.59 $ 0.48 $ 1.00 $ 1.02 Loss from discontinued operations per common share (0.01 ) (0.02 ) (0.04 ) (0.06 ) Diluted net earnings per common share $ 0.58 $ 0.46 $ 0.96 $ 0.96 The shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or because they were excluded under the treasury method (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Stock options - 5 - 4 Restricted and performance-based shares 331 295 347 300

Industry Segments

Industry Segments	6 Months Ended
	Jun. 30, 2015
Industry Segments [Abstract]
Industry Segments	Note 13. Industry Segments We have two major reportable operating segments, each of which focuses on a specific line of replacement parts. Our Engine Management Segment manufactures and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems. Our Temperature Control Segment manufactures and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories and windshield washer system parts. The following tables show our net sales, intersegment revenue and operating income by our operating segments (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Net Sales Engine Management $ 176,992 $ 184,181 $ 354,063 $ 363,475 Temperature Control 89,079 85,660 137,807 137,145 All Other 3,311 2,699 5,101 4,672 Consolidated $ 269,382 $ 272,540 $ 496,971 $ 505,292 Intersegment Revenue Engine Management $ 5,030 $ 6,231 $ 10,053 $ 12,184 Temperature Control 1,925 2,133 3,369 4,367 All Other (6,955 ) (8,364 ) (13,422 ) (16,551 ) Consolidated $ — $ — $ — $ — Operating Income Engine Management $ 21,839 $ 27,112 $ 43,555 $ 51,484 Temperature Control 3,165 4,991 1,746 5,604 All Other (1) (3,692 ) (14,483 ) (9,074 ) (19,063 ) Consolidated $ 21,312 $ 17,620 $ 36,227 $ 38,025 (1) During the second quarter of 2014, we recorded a $10.6 million litigation charge in connection with a settlement agreement in a legal proceeding with a third party (see Note 14 for additional details).

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 14. Commitments and Contingencies Asbestos In 1986, we acquired a brake business, which we subsequently sold in March 1998 and which is accounted for as a discontinued operation. When we originally acquired this brake business, we assumed future liabilities relating to any alleged exposure to asbestos-containing products manufactured by the seller of the acquired brake business. In accordance with the related purchase agreement, we agreed to assume the liabilities for all new claims filed on or after September 2001. Our ultimate exposure will depend upon the number of claims filed against us on or after September 2001 and the amounts paid for indemnity and defense thereof. At June 30, 2015, approximately 2,170 cases were outstanding for which we may be responsible for any related liabilities. Since inception in September 2001 through June 30, 2015, the amounts paid for settled claims are approximately $17.8 million. In evaluating our potential asbestos-related liability, we have considered various factors including, among other things, an actuarial study of the asbestos related liabilities performed by an independent actuarial firm, our settlement amounts and whether there are any co-defendants, the jurisdiction in which lawsuits are filed, and the status and results of settlement discussions. As is our accounting policy, we consider the advice of actuarial consultants with experience in assessing asbestos-related liabilities to estimate our potential claim liability. The methodology used to project asbestos-related liabilities and costs in our actuarial study considered: (1) historical data available from publicly available studies; (2) an analysis of our recent claims history to estimate likely filing rates into the future; (3) an analysis of our currently pending claims; and (4) an analysis of our settlements to date in order to develop average settlement values. The most recent actuarial study was performed as of August 31, 2014. The updated study has estimated an undiscounted liability for settlement payments, excluding legal costs and any potential recovery from insurance carriers, ranging from $36.1 million to $55.4 million for the period through 2058. The change from the prior year study was an $11.7 million increase for the low end of the range and an $18 million increase for the high end of the range. The increase in the estimated undiscounted liability from the prior year study at both the low end and high end of the range reflects our historical data and certain assumptions with respect to events that may occur in the future. Based on the information contained in the actuarial study and all other available information considered by us, we have concluded that no amount within the range of settlement payments was more likely than any other and, therefore, in assessing our asbestos liability we compare the low end of the range to our recorded liability to determine if an adjustment is required. Based upon the results of the August 31, 2014 actuarial study, in September 2014 we increased our asbestos liability to $36.1 million, the low end of the range, and recorded an incremental pre-tax provision of $12.8 million in loss from discontinued operations in the accompanying statement of operations. Legal costs, which are expensed as incurred and reported in loss from discontinued operations in the accompanying statement of operations, are estimated, according to the updated study, to range from $43 million to $76.4 million for the period through 2058. We plan to perform an annual actuarial evaluation during the third quarter of each year for the foreseeable future. Given the uncertainties associated with projecting such matters into the future and other factors outside our control, we can give no assurance that additional provisions will not be required. We will continue to monitor the circumstances surrounding these potential liabilities in determining whether additional provisions may be necessary. At the present time, however, we do not believe that any additional provisions would be reasonably likely to have a material adverse effect on our liquidity or consolidated financial position. Litigation Charge During the second quarter of 2014, we reached a settlement in a legal proceeding with a third party for $10.6 million. The legal proceeding resulted from the default of a loan by a former supplier and its related businesses and our subsequent purchases of product from a third party that was alleged to be a controlled company of the original supplier. Since the inception of the legal proceeding against us, we vigorously opposed all such allegations and believed that we had meritorious defenses. Prior to reaching the settlement, we considered that the incurrence of a loss contingency related to the lawsuit was not reasonably possible. Accordingly, we did not record any provisions in our financial statements since our potential liability was not considered probable and reasonably estimable. During the second quarter of 2014, at the time of the settlement, we recorded the settlement amount of $10.6 million. The settlement agreement was approved by the court in August 2014 and payment of the settlement amount was made in September 2014. The settlement amount was funded from cash on hand and available credit under our revolving credit facility. Other Litigation We are currently involved in various other legal claims and legal proceedings (some of which may involve substantial amounts), including claims related to commercial disputes, product liability, employment, and environmental. Although these legal claims and legal proceedings are subject to inherent uncertainties, based on our understanding and evaluation of the relevant facts and circumstances, we believe that the ultimate outcome of these matters will not, either individually or in the aggregate, have a material adverse effect on our . We may at any time determine that settling any of these matters is in our best interests, which settlement may include substantial payments. Warranties We generally warrant our products against certain manufacturing and other defects. These product warranties are provided for specific periods of time of the product depending on the nature of the product. As of June 30, 2015 and 2014, we have accrued $25.1 million and $22.8 million, respectively, for estimated product warranty claims included in accrued customer returns. The accrued product warranty costs are based primarily on historical experience of actual warranty claims. The following table provides the changes in our product warranties (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Balance, beginning of period $ 19,985 $ 20,374 $ 19,328 $ 18,041 Liabilities accrued for current year sales 25,951 22,425 46,987 41,616 Settlements of warranty claims (20,788 ) (19,998 ) (41,167 ) (36,856 ) Balance, end of period $ 25,148 $ 22,801 $ 25,148 $ 22,801

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity which . effective for annual reporting periods beginning after December 15, 2014. . Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. effective for annual reporting periods beginning after December 15, 2016, which for us is January 1, 2017, In July 2015, the FASB agreed to defer by one year the effective date of the new standard. The new standard is now effective for annual reporting periods beginning after December 15, 2017, which for us is January 1, 2018, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern In August 2014, the FASB issued ASU Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern which . effective for annual reporting periods ending after December 15, 2016, which for us is December 31, 2016, Income Statement - Extraordinary and Unusual Items In January 2015, the FASB issued ASU Income Statement – Extraordinary and Unusual Items, which Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU Simplifying the Presentation of Debt Issuance Costs, which In June 2015, at the Emerging Issues Task Force meeting, the FASB clarified that ASU 2015-03 does not address debt issuance costs related to revolving credit debt arrangements. In connection therewith, at the June 2015 meeting, the SEC staff announced that it would not object to the presentation of issuance costs related to revolving debt arrangements as an asset that is amortized over the term of the arrangement. Currently, we present debt financing costs related to our revolving credit facility debt as an asset in our consolidated balance sheets. We are currently evaluating ASU 2015-03, and have not yet concluded as to the impact it will have on our consolidated financial statements upon adoption.

Restructuring and Integration23

Restructuring and Integration Costs (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Integration Costs [Abstract]
Restructuring and Integration Activities	The aggregated liabilities included in “sundry payables and accrued expenses” and “other accrued liabilities” in the consolidated balance sheet relating to the restructuring and integration activities as of December 31, 2014 and June 30, 2015 and activity for the six months ended June 30, 2015 consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2014 $ 947 $ 729 $ 1,676 Restructuring and integration costs: Amounts provided for during 2015 (24 ) 55 31 Cash payments (384 ) (166 ) (550 ) Exit activity liability at June 30 $ 539 $ 618 $ 1,157

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventories [Abstract]
Inventories	Inventories, which are stated at the lower of cost (determined by means of the first-in, first-out method) or market, consist of the following: June 30, 2015 December 31, 2014 (In thousands) Finished goods $ 180,249 $ 185,655 Work-in-process 5,770 4,722 Raw materials 91,242 87,674 Total inventories $ 277,261 $ 278,051

Acquired Intangible Assets (Tab

Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Acquired Intangible Assets [Abstract]
Acquired Identifiable Intangible Assets	Acquired identifiable intangible assets consist of the following: June 30, 2015 December 31, 2014 (In thousands) Customer relationships $ 48,696 $ 48,646 Trademarks and trade names 6,800 6,800 Non-compete agreements 970 970 Patents and supply contracts 723 723 Leaseholds 160 160 Total acquired intangible assets 57,349 57,299 Less accumulated amortization (1) (26,661 ) (24,120 ) Net acquired intangible assets $ 30,688 $ 33,179 (1) Applies to all intangible assets, except for trademarks and trade names totaling $5.2 million, which have indefinite useful lives and, as such, are not being amortized.

Credit Facilities and Long-Te26

Credit Facilities and Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Credit Facilities and Long-Term Debt [Abstract]
Summary of total debt outstanding	Total debt outstanding is summarized as follows: June 30, 2015 December 31, 2014 (In thousands) Revolving credit facilities $ 52,916 $ 56,558 Other 138 258 Total debt $ 53,054 $ 56,816 Current maturities of debt $ 52,985 $ 56,733 Long-term debt 69 83 Total debt $ 53,054 $ 56,816

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	Changes in Accumulated Other Comprehensive Income by Component Three Months Ended June 30, 2015 Foreign Currency Translation Adjustments Unrecognized Pension and Postretirement Benefit Costs (Credit) Total Balance at March 31, 2015 $ (3,293 ) $ (2,077 ) $ (5,370 ) Other comprehensive income before reclassifications 822 446 1,268 Amounts reclassified from accumulated other comprehensive income — 116 116 Other comprehensive income, net 822 562 1,384 Balance at June 30 $ (2,471 ) $ (1,515 ) $ (3,986 ) Six Months Ended June 30, 2015 Foreign Currency Translation Adjustments Unrecognized Pension and Postretirement Benefit Costs (Credit) Total Balance at December 31, 2014 $ (219 ) $ (2,433 ) $ (2,652 ) Other comprehensive income before reclassifications (2,252 ) 454 (1,798 ) Amounts reclassified from accumulated other comprehensive income — 464 464 Other comprehensive income, net (2,252 ) 918 (1,334 ) Balance at June 30 $ (2,471 ) $ (1,515 ) $ (3,986 )
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications Out of Accumulated Other Comprehensive Income Details About Accumulated Other Comprehensive Income Components Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Amortization of pension and postretirement benefit plans: Prior service benefit (1) $ (29 ) $ (58 ) Unrecognized loss (1) 512 1,130 Total before income tax 483 1,072 Income tax expense (367 ) (608 ) Total reclassifications for the period $ 116 $ 464 (1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 10 for additional details).

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation Plans [Abstract]
Summary of Changes in Outstanding Stock Options	The following is a summary of the changes in outstanding stock options for the six months ended June 30, 2015: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Outstanding at December 31, 2014 9,875 $ 10.99 0.4 Expired — — — Exercised (9,875 ) 10.99 — Forfeited, other — — — Outstanding at June 30, 2015 — $ — — Options exercisable at June 30, 2015 — $ — —
Restricted and Performance-based Share Activity	Our restricted and performance-based share activity was as follows for the six months ended June 30, 2015: Shares Weighted Average Grant Date Fair Value Per Share Balance at December 31, 2014 749,018 $ 24.62 Granted 7,000 35.07 Vested (44,293 ) 34.47 Forfeited (2,675 ) 25.00 Balance at June 30, 2015 709,050 $ 24.10

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Employee Benefits [Abstract]
Components of Net Periodic Benefit Cost (Credit) for our Defined Benefit Plans and Postretirement Benefit Plans	The components of net periodic benefit cost (credit) for our defined benefit plans and postretirement benefit plans for the three months and six months ended June 30, 2015 and 2014 were as follows (in thousands): Three Months Ended Six Months Ended Pension benefits 2015 2014 2015 2014 Service cost $ — $ 41 $ — $ 82 Interest cost 55 65 109 130 Amortization of prior service cost — — — — Actuarial net loss 184 58 368 115 Net periodic benefit cost $ 239 $ 164 $ 477 $ 327 Postretirement benefits Service cost $ — $ — $ — $ — Interest cost 1 7 8 15 Amortization of prior service cost (29 ) (755 ) (58 ) (1,509 ) Actuarial net loss 328 488 762 1,023 Net periodic benefit cost (credit) $ 300 $ (260 ) $ 712 $ (471 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Carrying Amounts and Estimated Fair Values of our Financial Instruments	The following is a summary of the carrying amounts, estimated fair values, and classification under the fair value hierarchy of our financial instruments at June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents LEVEL 1 $ 12,704 $ 12,704 $ 13,728 $ 13,728 Deferred compensation LEVEL 1 10,919 10,919 9,811 9,811 Short term borrowings LEVEL 1 52,985 52,985 56,733 56,733 Long-term debt LEVEL 1 69 69 83 83

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share
Reconciliations of the Earnings Available to Common Stockholders and the Shares used in Calculating Basic and Dilutive Net Earnings per Common Share	The following are reconciliations of the earnings available to common stockholders and the shares used in calculating basic and dilutive net earnings per common share (in thousands, except per share data): Three Months Ended Six Months Ended 2015 2014 2015 2014 Basic Net Earnings Per Common Shares: Earnings from continuing operations $ 13,808 $ 11,169 $ 23,147 $ 23,576 Loss from discontinued operations (430 ) (529 ) (821 ) (1,211 ) Net earnings available to common stockholders $ 13,378 $ 10,640 $ 22,326 $ 22,365 Weighted average common shares outstanding 22,918 22,874 22,914 22,910 Earnings from continuing operations per common share $ 0.60 $ 0.49 $ 1.01 $ 1.03 Loss from discontinued operations per common share (0.02 ) (0.02 ) (0.04 ) (0.05 ) Basic net earnings per common share $ 0.58 $ 0.47 $ 0.97 $ 0.98 Diluted Net Earnings Per Common Share: Earnings from continuing operations $ 13,808 $ 11,169 $ 23,147 $ 23,576 Loss from discontinued operations (430 ) (529 ) (821 ) (1,211 ) Net earnings available to common stockholders $ 13,378 $ 10,640 $ 22,326 $ 22,365 Weighted average common shares outstanding 22,918 22,874 22,914 22,910 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 343 318 342 303 Dilutive effect of stock options - 5 - 6 Weighted average common shares outstanding –Diluted 23,261 23,197 23,256 23,219 Earnings from continuing operations per common share $ 0.59 $ 0.48 $ 1.00 $ 1.02 Loss from discontinued operations per common share (0.01 ) (0.02 ) (0.04 ) (0.06 ) Diluted net earnings per common share $ 0.58 $ 0.46 $ 0.96 $ 0.96
Anti-dilutive Securities Excluded from Computation of Earnings per Share	The shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or because they were excluded under the treasury method (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Stock options - 5 - 4 Restricted and performance-based shares 331 295 347 300

Industry Segments (Tables)

Industry Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Industry Segments [Abstract]
Sales and Operating Income by Operating Segments	The following tables show our net sales, intersegment revenue and operating income by our operating segments (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Net Sales Engine Management $ 176,992 $ 184,181 $ 354,063 $ 363,475 Temperature Control 89,079 85,660 137,807 137,145 All Other 3,311 2,699 5,101 4,672 Consolidated $ 269,382 $ 272,540 $ 496,971 $ 505,292 Intersegment Revenue Engine Management $ 5,030 $ 6,231 $ 10,053 $ 12,184 Temperature Control 1,925 2,133 3,369 4,367 All Other (6,955 ) (8,364 ) (13,422 ) (16,551 ) Consolidated $ — $ — $ — $ — Operating Income Engine Management $ 21,839 $ 27,112 $ 43,555 $ 51,484 Temperature Control 3,165 4,991 1,746 5,604 All Other (1) (3,692 ) (14,483 ) (9,074 ) (19,063 ) Consolidated $ 21,312 $ 17,620 $ 36,227 $ 38,025 (1) During the second quarter of 2014, we recorded a $10.6 million litigation charge in connection with a settlement agreement in a legal proceeding with a third party (see Note 14 for additional details).

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies [Abstract]
Changes in Product Warranties	The following table provides the changes in our product warranties (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Balance, beginning of period $ 19,985 $ 20,374 $ 19,328 $ 18,041 Liabilities accrued for current year sales 25,951 22,425 46,987 41,616 Settlements of warranty claims (20,788 ) (19,998 ) (41,167 ) (36,856 ) Balance, end of period $ 25,148 $ 22,801 $ 25,148 $ 22,801

Basis of Presentation (Details)

Basis of Presentation (Details)	Jun. 30, 2015
Basis of Presentation [Abstract]
Equity ownership in entities included in consolidated financial statements, minimum (in hundredths)	50.00%

Restructuring and Integration35

Restructuring and Integration Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	$ 1,676
Restructuring and integration costs [Abstract]
Amounts provided for during 2015	31
Cash payments	(550)
Exit activity liability, end of period	1,157
Workforce Reduction [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	947
Restructuring and integration costs [Abstract]
Amounts provided for during 2015	(24)
Cash payments	(384)
Exit activity liability, end of period	539
Other Exit Costs [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	729
Restructuring and integration costs [Abstract]
Amounts provided for during 2015	55
Cash payments	(166)
Exit activity liability, end of period	$ 618

Sale of Receivables (Details)

Sale of Receivables (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Sale of Receivables [Abstract]
Sale of receivables to financial institutions	$ 196.6	$ 188.8	$ 340.6	$ 366.2
Charge related to sale of receivables	$ 4	$ 3.6	$ 6.9	$ 6.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventories [Abstract]
Finished goods	$ 180,249	$ 185,655
Work-in-process	5,770	4,722
Raw materials	91,242	87,674
Total inventories	$ 277,261	$ 278,051

Acquired Intangible Assets (Det

Acquired Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		$ 57,349		$ 57,349		$ 57,299
Less accumulated amortization	[1]	(26,661)		(26,661)		(24,120)
Net acquired intangible assets		30,688		30,688		33,179
Amortization of acquired intangible assets [Abstract]
Amortization expense		1,200	$ 1,200	2,500	$ 2,400
Estimated amortization expense, remainder of current year		2,500		2,500
Estimated amortization expense in year 2016		4,900		4,900
Estimated amortization expense in year 2017		4,700		4,700
Estimated amortization expense in year 2018		4,500		4,500
Estimated amortization expense in years 2019 through 2028		8,900		8,900
Customer Relationships [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		48,696		48,696		48,646
Trademarks and Trade Names [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		6,800		6,800		6,800
Intangible assets acquired [Abstract]
Amount of acquired indefinite-lived intangible assets		5,200		5,200
Non-compete Agreements [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		970		970		970
Patents and Supply Contracts [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		723		723		723
Leaseholds [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets		$ 160		$ 160		$ 160
[1]	Applies to all intangible assets, except for related trademarks and trade names totaling $5.2 million, which have indefinite useful lives and, as such, are not being amortized.

Credit Facilities and Long-Te39

Credit Facilities and Long-Term Debt, Total Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Credit Facilities and Long-Term Debt [Abstract]
Revolving credit facilities	$ 52,916	$ 56,558
Other	138	258
Total debt	53,054	56,816
Current maturities of debt	52,985	56,733
Long-term debt	$ 69	$ 83

Credit Facilities and Long-Te40

Credit Facilities and Long-Term Debt, Deferred Financing Costs (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Deferred Financing Costs [Abstract]
Deferred financing costs	$ 1.9	$ 2.3
Amortization of financing costs reminder of 2015	0.3
Amortization of financing costs in 2016	0.7
Amortization of financing costs in 2017	0.7
Amortization of financing costs in 2018	$ 0.2

Credit Facilities and Long-Te41

Credit Facilities and Long-Term Debt, Revolving Credit Facility (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 250
Expiration date	Mar. 31, 2018
Additional available borrowing capacity	$ 161.1
Financial covenants	At any time that our average borrowing availability is less than $25 million, the terms of our restated credit agreement provide for, among other provisions, a financial covenant requiring us, on a consolidated basis, to maintain specified levels of fixed charge coverage at the end of each fiscal quarter (rolling twelve months).
Increase in the amount of cash dividends that we may pay in any twelve month period	$ 5
Total cash available for dividends	20
Increase the amount of cash that we may utilize to purchase or redeem our common stock in any fiscal year	10
Total cash that we may utilize to purchase or redeem our common stock in any fiscal year	20
General Electric Capital Corporation Credit Facility [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility	$ 52.9		$ 56.6
Weighted average interest rate (in hundredths)	1.80%		1.80%
General Electric Capital Corporation Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Conditions for required financial covenants, maximum borrowing availability	$ 25
General Electric Capital Corporation Credit Facility [Member] | Direct Borrowings [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility	$ 50		$ 53
Weighted average interest rate (in hundredths)	1.70%		1.70%
General Electric Capital Corporation Credit Facility [Member] | Index Loan [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility	$ 2.9		$ 3.6
Weighted average interest rate (in hundredths)	3.80%		3.80%
Average daily loan balance outstanding	$ 3.9	$ 4.5	$ 4.4
GE Canada Finance Holding Company Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	10
Outstanding borrowings under credit facility	$ 0

Credit Facilities and Long-Te42

Credit Facilities and Long-Term Debt, Canadian Revolving Credit Facility (Details) $ in Millions	Jun. 30, 2015USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 250
GE Canada Finance Holding Company Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	10
Outstanding borrowings under credit facility	0
Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10

Accumulated Other Comprehensi43

Accumulated Other Comprehensive Income (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Changes in accumulated other comprehensive income [Roll Forward]
Beginning balance	$ (5,370)	$ (2,652)
Other comprehensive income before reclassifications	1,268	(1,798)
Amounts reclassified from accumulated other comprehensive income	116	464
Other comprehensive income, net	1,384	(1,334)
Ending balance	(3,986)	(3,986)
Foreign Currency Translation Adjustments [Member]
Changes in accumulated other comprehensive income [Roll Forward]
Beginning balance	(3,293)	(219)
Other comprehensive income before reclassifications	822	(2,252)
Amounts reclassified from accumulated other comprehensive income	0	0
Other comprehensive income, net	822	(2,252)
Ending balance	(2,471)	(2,471)
Unrecognized Pension and Postretirement Benefit Costs (Credit) [Member]
Changes in accumulated other comprehensive income [Roll Forward]
Beginning balance	(2,077)	(2,433)
Other comprehensive income before reclassifications	446	454
Amounts reclassified from accumulated other comprehensive income	116	464
Other comprehensive income, net	562	918
Ending balance	$ (1,515)	$ (1,515)

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income, Reclassified (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Amortization of pension and postretirement benefit plans [Abstract]
Prior service benefit		$ (29)	$ (755)	$ (58)	$ (1,509)
Unrecognized loss		512	546	1,130	1,138
Income tax expense		(367)	$ 17	(608)	$ 75
Total reclassifications for the period		(116)		(464)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Amortization of pension and postretirement benefit plans [Abstract]
Prior service benefit	[1]	(29)		(58)
Unrecognized loss	[1]	512		1,130
Total before income tax		483		1,072
Income tax expense		(367)		(608)
Total reclassifications for the period		$ 116		$ 464
[1]	These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 10 for additional details)

Stock-Based Compensation Plan45

Stock-Based Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Compensation expense, gross	$ 2,927	$ 2,397
Stock Options [Member]
Options, shares [Roll Forward]
Outstanding, beginning of period (in shares)	9,875
Expired (in shares)	0
Exercised (in shares)	(9,875)
Forfeited, other (in shares)	0
Outstanding, end of period (in shares)	0		9,875
Options exercisable, end of period (in shares)	0
Options, weighted average exercise price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 10.99
Expired (in dollars per share)	0
Exercised (in dollars per share)	10.99
Forfeited, other (in dollars per share)	0
Outstanding, end of period (in dollars per share)	0		$ 10.99
Options exercisable, end of period (in dollars per share)	$ 0
Options, additional disclosures [Abstract]
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2			4 months 24 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2			4 months 24 days
Options exercisable, weighted average remaining contractual term, end of period
Total intrinsic value of options exercised	$ 300
Options granted (in shares)	0
Performance-based Shares [Member]
Restricted and Performance Stock Grants [Abstract]
Measuring period for performance-based shares	3 years
Award vesting rights	Selected executives and other key personnel are granted performance awards whose vesting is contingent upon meeting various performance measures with a retention feature. Performance-based shares are subject to a three-year measuring period and the achievement of performance targets and, depending upon the achievement of such performance targets, they may become vested on the third anniversary of the date of grant.
Restricted Shares [Member]
Restricted and Performance Stock Grants [Abstract]
Award vesting rights	Restricted shares granted to employees become fully vested upon the third anniversary of the date of grant; and for selected key executives, certain additional restricted share grants vest 25% upon the attainment of age 60, 25% upon the attainment of age 63 and become fully vested upon the attainment of age 65. Restricted shares granted to directors become fully vested upon the first anniversary of the date of grant.
Restricted Shares [Member] | Employees [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures (in hundredths)	5.00%
Restricted Shares [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures (in hundredths)	0.00%
Restricted Shares [Member] | Directors [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures (in hundredths)	0.00%
Restricted Shares [Member] | Age 60 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage (in hundredths)	25.00%
Restricted Shares [Member] | Age 63 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage (in hundredths)	25.00%
Restricted Shares [Member] | Age65 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage (in hundredths)	100.00%
Restricted and Performance-based shares [Member]
Restricted and performance-based stock, shares [Roll Forward]
Beginning of period (in shares)	749,018
Granted (in shares)	7,000
Vested (in shares)	(44,293)
Forfeited (in shares)	(2,675)
End of period (in shares)	709,050		749,018
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Beginning of period (in dollars per share)	$ 24.62
Granted (in dollars per share)	35.07
Vested (in dollars per share)	34.47
Forfeited (in dollars per share)	25
End of period (in dollars per share)	$ 24.10		$ 24.62
Compensation expense, gross	$ 2,500	2,000
Compensation expense, net of tax	1,600	$ 1,300
Unamortized compensation expense	$ 9,700
Restricted and Performance-based shares [Member] | Employees [Member]
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Weighted average period of recognition for unrecognized compensation expense	4 years 9 months 18 days
Restricted and Performance-based shares [Member] | Directors [Member]
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Weighted average period of recognition for unrecognized compensation expense	9 months 18 days

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee Stock Ownership Plan and Trust (ESOP) [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Additional shares contributed to ESOP (in shares)			58,000
Shares released from trust (in shares)	58,200		58,200
Total remaining balance of shares in the ESOP (in shares)	200		200
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 41	$ 0	$ 82
Interest cost	55	65	109	130
Amortization of prior service cost	0	0	0	0
Actuarial net loss	184	58	368	115
Net periodic benefit cost (credit)	239	164	477	327
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	1	7	8	15
Amortization of prior service cost	(29)	(755)	(58)	(1,509)
Actuarial net loss	328	488	762	1,023
Net periodic benefit cost (credit)	$ 300	$ (260)	712	$ (471)
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Contributions by employer on behalf of employees			500
Estimated future employer contributions in current fiscal year			1,000
Supplemental Executive Retirement Plan [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Employer discretionary contribution amount			$ 500

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Level 1 [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Carrying Amount [Member]
Carrying amounts and estimated fair values of financial instruments [Abstract]
Cash and cash equivalents	$ 12,704	$ 13,728
Deferred compensation	10,919	9,811
Short term borrowings	52,985	56,733
Long-term debt	69	83
Fair Value [Member]
Carrying amounts and estimated fair values of financial instruments [Abstract]
Cash and cash equivalents	12,704	13,728
Deferred compensation	10,919	9,811
Short term borrowings	52,985	56,733
Long-term debt	$ 69	$ 83

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic Net Earnings Per Common Shares [Abstract]
Earnings from continuing operations	$ 13,808	$ 11,169	$ 23,147	$ 23,576
Loss from discontinued operation	(430)	(529)	(821)	(1,211)
Net earnings available to common stockholders	$ 13,378	$ 10,640	$ 22,326	$ 22,365
Weighted average common shares outstanding (in shares)	22,917,718	22,874,002	22,914,322	22,910,419
Earnings from continuing operations per common share (in dollars per share)	$ 0.60	$ 0.49	$ 1.01	$ 1.03
Loss from discontinued operations per common share (in dollars per share)	(0.02)	(0.02)	(0.04)	(0.05)
Net earnings per common share - Basic (in dollars per share)	$ 0.58	$ 0.47	$ 0.97	$ 0.98
Diluted Net Earnings Per Common Share [Abstract]
Earnings from continuing operations	$ 13,808	$ 11,169	$ 23,147	$ 23,576
Loss from discontinued operation	(430)	(529)	(821)	(1,211)
Net earnings available to common stockholders	$ 13,378	$ 10,640	$ 22,326	$ 22,365
Plus incremental shares from assumed conversions [Abstract]
Dilutive effect of restricted stock and performance-based stock (in shares)	343,000	318,000	342,000	303,000
Dilutive effect of stock options (in shares)	0	5,000	0	6,000
Weighted average common shares outstanding - Diluted (in shares)	23,261,094	23,196,713	23,256,255	23,219,055
Earnings from continuing operations per common share (in dollars per share)	$ 0.59	$ 0.48	$ 1	$ 1.02
Loss from discontinued operations per common share (in dollars per share)	(0.01)	(0.02)	(0.04)	(0.06)
Net earnings per common share - Diluted (in dollars per share)	$ 0.58	$ 0.46	$ 0.96	$ 0.96
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	5,000	0	4,000
Restricted and Performance-based shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	331,000	295,000	347,000	300,000

Industry Segments (Details)

Industry Segments (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment	Jun. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable operating segments | Segment				2
Net sales		$ 269,382	$ 272,540	$ 496,971	$ 505,292
Operating Income		21,312	17,620	36,227	38,025
Litigation charge		0	10,650	0	10,650
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Engine Management [Member] | Reportable Segments [Member]
Segment Reporting Information [Line Items]
Net sales		176,992	184,181	354,063	363,475
Operating Income		21,839	27,112	43,555	51,484
Engine Management [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		5,030	6,231	10,053	12,184
Temperature Control [Member] | Reportable Segments [Member]
Segment Reporting Information [Line Items]
Net sales		89,079	85,660	137,807	137,145
Operating Income		3,165	4,991	1,746	5,604
Temperature Control [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		1,925	2,133	3,369	4,367
All Other [Member]
Segment Reporting Information [Line Items]
Net sales		3,311	2,699	5,101	4,672
Operating Income	[1]	(3,692)	(14,483)	(9,074)	(19,063)
All Other [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		$ (6,955)	$ (8,364)	$ (13,422)	$ (16,551)
[1]	During the second quarter of 2014, we recorded a $10.6 million litigation charge in connection with a settlement agreement in a legal proceeding with a third party (see Note 14 for additional details).

Commitments and Contingencies50

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended		166 Months Ended
	Jun. 30, 2015USD ($)Claim	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Claim	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Claim
Loss Contingencies [Line Items]
Payment for settled claims	$ 0	$ 10,650	$ 0	$ 10,650
Changes in product warranties [Roll forward]
Balance, beginning of period	19,985	20,374	19,328	18,041
Liabilities accrued for current year sales	25,951	22,425	46,987	41,616
Settlements of warranty claims	(20,788)	(19,998)	(41,167)	(36,856)
Balance, end of period	$ 25,148	$ 22,801	$ 25,148	$ 22,801	$ 25,148
Asbestos [Member]
Loss Contingencies [Line Items]
Pending claims, approximate number | Claim	2,170		2,170		2,170
Payment for settled claims					$ 17,800
Increase for low end of range			$ 11,700
Increase for high end of range			18,000
Incremental pre-tax provision			12,800
Range of possible loss, minimum	$ 43,000		43,000		43,000
Range of possible loss, maximum	76,400		76,400		76,400
Asbestos [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Estimated legal costs	36,100		36,100		36,100
Asbestos [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Estimated legal costs	$ 55,400		$ 55,400		$ 55,400