Standard Motor Products (SMP) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 01, 2016
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		22,716,279
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]
Net sales	$ 288,977	$ 269,382	$ 527,888	$ 496,971
Cost of sales	201,901	196,622	367,816	360,322
Gross profit	87,076	72,760	160,072	136,649
Selling, general and administrative expenses	54,758	51,736	107,756	100,934
Restructuring and integration expenses (income)	771	(26)	1,012	31
Other income, net	297	262	559	543
Operating income	31,844	21,312	51,863	36,227
Other non-operating income, net	265	548	598	699
Interest expense	394	480	705	906
Earnings from continuing operations before taxes	31,715	21,380	51,756	36,020
Provision for income taxes	11,853	7,572	19,238	12,873
Earnings from continuing operations	19,862	13,808	32,518	23,147
Loss from discontinued operations, net of income taxes	(618)	(430)	(1,070)	(821)
Net earnings	$ 19,244	$ 13,378	$ 31,448	$ 22,326
Net earnings per common share - Basic:
Earnings from continuing operations (in dollars per share)	$ 0.87	$ 0.60	$ 1.43	$ 1.01
Discontinued operations (in dollars per share)	(0.02)	(0.02)	(0.04)	(0.04)
Net earnings per common share - Basic (in dollars per share)	0.85	0.58	1.39	0.97
Net earnings per common share - Diluted:
Earnings from continuing operations (in dollars per share)	0.86	0.59	1.41	1
Discontinued operations (in dollars per share)	(0.02)	(0.01)	(0.04)	(0.04)
Net earnings per common share - Diluted (in dollars per share)	0.84	0.58	1.37	0.96
Dividends declared per share (in dollars per share)	$ 0.17	$ 0.15	$ 0.34	$ 0.30
Average number of common shares (in shares)	22,705,310	22,917,718	22,673,811	22,914,322
Average number of common shares and dilutive common shares (in shares)	23,018,730	23,261,094	22,988,502	23,256,255

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net earnings	$ 19,244	$ 13,378	$ 31,448	$ 22,326
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1,938)	822	(153)	(2,252)
Amortization of:
Prior service benefit	(14)	(29)	(27)	(58)
Unrecognized loss	115	512	390	1,130
Unrecognized actuarial gains	301	421	301	421
Foreign currency exchange rate changes	0	25	4	33
Income tax expense related to pension and postretirement plans	(164)	(367)	(272)	(608)
Pension and postretirement plans, net of tax	238	562	396	918
Total other comprehensive income (loss), net of tax	(1,700)	1,384	243	(1,334)
Comprehensive income	$ 17,544	$ 14,762	$ 31,691	$ 20,992

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 12,395	$ 18,800
Accounts receivable, less allowances for discounts and doubtful accounts of $4,850 and $4,246 for 2016 and 2015, respectively	168,435	123,853
Inventories	317,429	285,793
Deferred income taxes	41,926	40,626
Prepaid expenses and other current assets	7,680	10,668
Total current assets	547,865	479,740
Property, plant and equipment, net of accumulated depreciation of $198,066 and $194,077 for 2016 and 2015, respectively	75,224	68,882
Goodwill	67,207	54,881
Other intangibles, net	68,625	29,386
Deferred income taxes	7,863	10,737
Other assets	36,626	37,438
Total assets	803,410	681,064
CURRENT LIABILITIES:
Notes payable	99,994	47,427
Current portion of long-term debt	42	16
Accounts payable	99,158	72,711
Sundry payables and accrued expenses	42,305	40,706
Accrued customer returns	44,363	38,812
Accrued rebates	30,495	27,196
Payroll and commissions	21,439	17,048
Total current liabilities	337,796	243,916
Long-term debt	144	62
Other accrued liabilities	13,271	12,922
Accrued asbestos liabilities	31,717	32,185
Total liabilities	382,928	289,085
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	95,901	93,247
Retained earnings	315,224	291,481
Accumulated other comprehensive income	(6,231)	(6,474)
Treasury stock - at cost (1,220,732 shares and 1,295,316 shares in 2016 and 2015, respectively)	(32,284)	(34,147)
Total stockholders' equity	420,482	391,979
Total liabilities and stockholders' equity	$ 803,410	$ 681,064

CONSOLIDATED BALANCE SHEETS (U5

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Accounts receivable, allowances for discounts and doubtful accounts	$ 4,850	$ 4,246
Property, plant and equipment, accumulated depreciation	$ 198,066	$ 194,077
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)	1,220,732	1,295,316

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 31,448	$ 22,326
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	9,269	8,552
Amortization of deferred financing cost	167	348
Increase to allowance for doubtful accounts	412	39
Increase to inventory reserves	2,351	396
Amortization of deferred gain on sale of building	(524)	(524)
Equity income from joint ventures	(385)	(966)
Employee Stock Ownership Plan allocation	1,011	1,104
Stock-based compensation	2,736	2,927
Excess tax benefits related to exercise of employee stock grants	(137)	(130)
Decrease (increase) in deferred income taxes	1,383	(53)
Loss on discontinued operations, net of tax	1,070	821
Change in assets and liabilities:
Increase in accounts receivable	(41,726)	(34,563)
Increase in inventories	(20,819)	(820)
Decrease (increase) in prepaid expenses and other current assets	4,073	(489)
Increase in accounts payable	18,989	18,327
Increase in sundry payables and accrued expenses	13,381	9,947
Net change in other assets and liabilities	1,029	(1,070)
Net cash provided by operating activities	23,728	26,172
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of and investments in businesses	(67,289)	0
Capital expenditures	(10,134)	(10,184)
Other investing activities	5	26
Net cash used in investing activities	(77,418)	(10,158)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (repayments) under line-of-credit agreements	52,567	(3,642)
Net borrowings (payments) of long-term debt and capital lease obligations	109	(119)
Purchase of treasury stock	(377)	(7,046)
Increase in overdraft balances	2,472	279
Proceeds from exercise of employee stock options	0	109
Excess tax benefits related to the exercise of employee stock grants	137	130
Dividends paid	(7,705)	(6,876)
Net cash provided by (used in) financing activities	47,203	(17,165)
Effect of exchange rate changes on cash	82	127
Net decrease in cash and cash equivalents	(6,405)	(1,024)
CASH AND CASH EQUIVALENTS at beginning of period	18,800	13,728
CASH AND CASH EQUIVALENTS at end of period	12,395	12,704
Cash paid during the period for:
Interest	516	558
Income taxes	$ 13,376	$ 13,987

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 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, 2015	$ 47,872	$ 93,247	$ 291,481	$ (6,474)	$ (34,147)	$ 391,979
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	31,448	0	0	31,448
Other comprehensive income (loss), net of tax	0	0	0	243	0	243
Cash dividends paid	0	0	(7,705)	0	0	(7,705)
Purchase of treasury stock	0	0	0	0	(377)	(377)
Stock-based compensation and related tax benefits	0	2,199	0	0	674	2,873
Employee Stock Ownership Plan	0	455	0	0	1,566	2,021
Balance at Jun. 30, 2016	47,872	95,901	315,224	(6,231)	(32,284)	420,482
Balance at Mar. 31, 2016				(4,531)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings						19,244
Other comprehensive income (loss), net of tax						(1,700)
Balance at Jun. 30, 2016	$ 47,872	$ 95,901	$ 315,224	$ (6,231)	$ (32,284)	$ 420,482

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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 a complementary focus on heavy duty, industrial equipment and 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, 2015. 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, 2016
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, 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 Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) 2016-02, Leases 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. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date effective for annual reporting periods beginning after December 15, 2017, which for us is January 1, 2018, Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting Balance Sheet Classification of Deferred Taxes In November 2015, the FASB issued ASU Balance Sheet Classification of Deferred Taxes, Simplifying the Measurement of Inventory In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory 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. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, Simplifying the Accounting for Measurement-Period Adjustments In September 2015, the FASB issued ASU Simplifying the Accounting for Measurement-Period Adjustments,

Business Acquisitions and Inves

Business Acquisitions and Investments	6 Months Ended
	Jun. 30, 2016
Business Acquisitions and Investments [Abstract]
Business Acquisitions and Investments	Note 3. Business Acquisitions and Investments In May 2016, we acquired the North American automotive ignition wire business of General Cable Corporation for approximately $67.5 million, subject to post-closing adjustments. The acquisition was paid for in cash funded by our revolving credit facility with JPMorgan Chase, as agent. The acquisition includes the purchase of certain assets and the assumption of certain liabilities of General Cable Corporation’s (and certain of its affiliates) automotive ignition wire business in North America as well as 100% of the equity interests of a General Cable subsidiary in Nogales, Mexico. Revenues generated from the acquired business were approximately $96 million for the year ended December 31, 2015. The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed, based on their fair values (in thousands): Purchase Price $ 67,451 Assets acquired and liabilities assumed: Receivables $ 3,130 Inventory 12,567 Other current and noncurrent assets (1) 334 Property, plant and equipment, net 2,660 Intangible assets 42,440 Goodwill 12,516 Current liabilities (6,196 ) Net assets acquired $ 67,451 (1) Other current and noncurrent assets includes $0.2 million of cash acquired. Intangible assets acquired of $42.4 million consists of customer relationships of $39.4 million that will be amortized on a straight-line basis over the estimated useful life of 15 years; a non-compete agreement of $2.2 million that will be amortized on a straight-line basis over the estimated useful life of 5 years; and a supply agreement of $0.8 million that will be amortized on a straight-line basis over the estimated useful life of 1 year. Goodwill of $12.5 million was allocated to the Engine Management Segment and is deductible for income tax purposes. The goodwill reflects relationships, business specific knowledge and the replacement cost of an assembled workforce associated with personal reputations, as well as the value of expected synergies. Revenues included in our consolidated statements of operations for the acquisition was $8.5 million from the date of acquisition through June 30, 2016. Pro Forma Information (Unaudited) The following table summarizes certain supplemental unaudited pro forma financial information which was prepared as if the acquisition of the North American automotive ignition wire business of General Cable Corporation described above had occurred as of January 1, 2015. The unaudited pro forma financial information was prepared for comparative purposes only and does not purport to be indicative of what would have occurred had the acquisition been made at that time, or of results which may occur in the future. Supplemental unaudited pro forma financial information for the acquisition is as follows (in thousands): Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Reported Pro Forma Reported Pro Forma Revenues $ 288,977 $ 304,481 $ 269,382 $ 294,978 Net earnings 19,244 20,258 13,378 12,481 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Reported Pro Forma Reported Pro Forma Revenues $ 527,888 $ 567,219 $ 496,971 $ 548,726 Net earnings 31,448 32,629 22,326 23,050

Restructuring and Integration C

Restructuring and Integration Costs	6 Months Ended
	Jun. 30, 2016
Restructuring and Integration Costs [Abstract]
Restructuring and Integration Costs	Note 4. 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, including the plant rationalization program and other prior year restructuring programs as of December 31, 2015 and June 30, 2016 and activity for the six months ended June 30, 2016 consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2015 $ 270 $ 591 $ 861 Restructuring and integration costs: Amounts provided for during 2016 1,012 — 1,012 Cash payments (165 ) (42 ) (207 ) Exit activity liability at June 30 $ 1,117 $ 549 $ 1,666 Plant Rationalization Program In February 2016, in connection with our ongoing efforts to improve operating efficiencies and reduce costs, we finalized our intention to implement a plant rationalization initiative. As part of the plant rationalization, we plan to relocate certain production activities from our Grapevine, Texas manufacturing facility to facilities in Greenville, South Carolina and Reynosa, Mexico, relocate certain service functions from Grapevine, Texas to our administrative offices in Lewisville, Texas, and close our Grapevine, Texas facility. In addition, certain production activities will be relocated from our Greenville, South Carolina manufacturing facility to our manufacturing facility in Bialystok, Poland. Restructuring and integration expenses expected to be incurred related to the program of approximately $5 million, consisting of employee severance and relocation of certain machinery and equipment, will be recognized throughout the program. During the six months ended June 30, 2016, we recognized $1 million of restructuring and integration expenses related to the program. We anticipate that the plant rationalization will be completed by February 2018. Activity, by segment, for the six months ended June 30, 2016 related to our plant rationalization program consisted of the following (in thousands): Engine Management Temperature Control Other Total Exit activity liability at December 31 $ — $ — $ — $ — Restructuring and integration costs: Amounts provided for during 2016 99 904 — 1,003 Cash payments (99 ) (40 ) — (139 ) Exit activity liability at June 30 $ — $ 864 $ — $ 864 Prior Year Programs Liabilities associated with the prior year restructuring and integration programs of $0.8 million as of June 30, 2016 relate primarily to employee severance and other retiree benefit enhancements to be paid through 2020 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. Restructuring and integration expenses for these programs for the six months ended June 30, 2016 and 2015 were not material.

Sale of Receivables

Sale of Receivables	6 Months Ended
	Jun. 30, 2016
Sale of Receivables [Abstract]
Sale of Receivables	Note 5. 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 $201.7 million and $367.6 million of receivables during the three months and six months ended June ,

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Inventories	Note 6. 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, 2016 December 31, 2015 (In thousands) Finished goods $ 205,682 $ 186,782 Work-in-process 6,088 5,456 Raw materials 105,659 93,555 Total inventories $ 317,429 $ 285,793

Acquired Intangible Assets

Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2016
Acquired Intangible Assets [Abstract]
Acquired Intangible Assets	Note 7. Acquired Intangible Assets Acquired identifiable intangible assets consist of the following: June 30, 2016 December 31, 2015 (In thousands) Customer relationships $ 87,506 $ 48,475 Trademarks and trade names 6,800 6,800 Non-compete agreements 3,208 970 Patents 723 723 Supply agreements 800 — Leaseholds 160 160 Total acquired intangible assets 99,197 57,128 Less accumulated amortization (1) (31,667 ) (29,040 ) Net acquired intangible assets $ 67,530 $ 28,088 (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. In May 2016, we acquired the North American automotive ignition wire business of General Cable Corporation. Intangible assets acquired in the acquisition of $42.4 million consists of customer relationships of $39.4 million that will be amortized on a straight-line basis over the estimated useful life of 15 years; a non-compete agreement of $2.2 million that will be amortized on a straight-line basis over the estimated useful life of 5 years; and a supply agreement of $0.8 million that will be amortized on a straight-line basis over the estimated useful life of 1 year. Total amortization expense for acquired intangible assets was $1.5 million and $2.7 million for the three months and six months ended June 30, 2016, respectively, and $1.2 million and $2.5 million for the comparable periods in 2015. Based on the current estimated useful lives assigned to our acquired intangible assets, amortization expense is estimated to be $4.3 million for the remainder of 2016, $8.1 million in 2017, $7.6 million in 2018, $6.4 million in 2019 and $35.9 million in the aggregate for the years 2020 through 2031.

Credit Facilities and Long-Term

Credit Facilities and Long-Term Debt	6 Months Ended
	Jun. 30, 2016
Credit Facilities and Long-Term Debt [Abstract]
Credit Facilities and Long-Term Debt	Note 8. Credit Facilities and Long-Term Debt Total debt outstanding is summarized as follows: June 30, 2016 December 31, 2015 (In thousands) Revolving credit facilities $ 99,994 $ 47,427 Other 186 78 Total debt $ 100,180 $ 47,505 Current maturities of debt $ 100,036 $ 47,443 Long-term debt 144 62 Total debt $ 100,180 $ 47,505 Revolving Credit Facility In October 2015, we entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as agent, and a syndicate of lenders for a senior secured revolving credit facility with a line of credit of up to $250 million (with an additional $50 million accordion feature) and a maturity date in October 2020. The new credit agreement replaces our prior credit facility with General Electric Capital Corporation, as agent, and the lenders therein. Direct borrowings under the new credit agreement bear interest at LIBOR plus a margin ranging from 1.25% to 1.75% based on our borrowing availability, or floating at the alternate base rate plus a margin ranging from 0.25% to 0.75% based on our borrowing availability, at our option. The credit agreement is guaranteed by certain of our subsidiaries and secured by certain of our assets. Borrowings under the new credit agreement are secured by substantially all of our assets, including accounts receivable, inventory and certain fixed assets, and those of certain of our subsidiaries. Availability under the credit agreement is based on a formula of eligible accounts receivable, eligible inventory, eligible equipment and eligible fixed assets. After taking into account outstanding borrowings under the credit agreement, there was an additional $114.4 million available for us to borrow pursuant to the formula at June 30, 2016 December At June 30, 2016, the weighted average interest rate on our credit agreement was 1.9%, which consisted of $92 million in direct borrowings at 1.8% and an alternative base rate loan of $8 million at 3.8%. At December At any time that our borrowing availability is less than the greater of either (a) $25 million, or 10% of the commitments if fixed assets are not included in the borrowing base, or (b) $31.25 million, or 12.5% of the commitments if fixed assets are included in the borrowing base, the terms of the credit agreement provide for, among other provisions, a financial covenant requiring us, on a consolidated basis, to maintain a fixed charge coverage ratio of 1:1 at the end of each fiscal quarter (rolling four quarters). As of June 30, The new credit agreement also replaces our Canadian Credit Agreement with GE Canada Finance Holding Company. The new agreement with JPMorgan Chase Bank, N.A. allows for a $10 million line of credit to Canada as part of the $250 million available for borrowing. Deferred Financing Costs We had deferred financing costs of $1.4 million and $1.6 million as of June 30, 2016 and December 31, 2015, respectively. Deferred financing costs are related to our revolving credit facility. Deferred financing costs as of June 30, 2016 are being amortized in the amounts of $0.2 million for the remainder of 2016, $0.3 million in 2017, $0.3 million in 2018, $0.3 million in 2019 and $0.3 million in 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 9. Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income by Component (in thousands) Three Months Ended June 30, 2016 Foreign Currency Translation Adjustments Unrecognized Postretirement Benefit Costs (Credit) Total Balance at March 31, 2016 $ (4,173 ) $ (358 ) $ (4,531 ) Other comprehensive income before reclassifications (1,938 ) 180 (1,758 ) Amounts reclassified from accumulated other comprehensive income — 58 58 Other comprehensive income, net (1,938 ) 238 (1,700 ) Balance at June 30 $ (6,111 ) $ (120 ) $ (6,231 ) Six Months Ended June 30, 2016 Foreign Currency Translation Adjustments Unrecognized Postretirement Benefit Costs (Credit) Total Balance at December 31, 2015 $ (5,958 ) $ (516 ) $ (6,474 ) Other comprehensive income before reclassifications (153 ) 184 31 Amounts reclassified from accumulated other comprehensive income — 212 212 Other comprehensive income, net (153 ) 396 243 Balance at June 30 $ (6,111 ) $ (120 ) $ (6,231 ) Reclassifications Out of Accumulated Other Comprehensive Income (in thousands) Details About Accumulated Other Comprehensive Income Components Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Amortization of postretirement benefit plans: Prior service benefit (1) $ (14 ) $ (27 ) Unrecognized loss (1) 115 390 Total before income tax 101 363 Income tax expense (43 ) (151 ) Total reclassifications for the period $ 58 $ 212 (1) These accumulated other comprehensive income components are included in the computation of net periodic postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 11 for additional details).

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation Plans [Abstract]
Stock-Based Compensation Plans	Note 10. Stock-Based Compensation Plans We account for our stock-based compensation plans in accordance with the provisions of FASB ASC 718, Stock Compensation Restricted and Performance Stock Grants In May 2016, our Board of Directors and Shareholders approved the 2016 Omnibus Incentive Plan. The 2016 Omnibus Incentive Plan supersedes the 2006 Omnibus Incentive Plan, which terminated in May 2016. The 2016 Omnibus Incentive Plan is the only remaining plan available to provide stock-based incentive compensation to our employees, directors and other eligible persons. Under the 2016 Omnibus Incentive Plan, which terminates in May 2026, we are authorized to issue, among other things, shares of restricted and performance-based stock to eligible employees and restricted stock to directors of up to 1,100,000 shares. Shares issued under the plan that are cancelled, forfeited or expire by their terms are eligible to be granted again under the 2016 Omnibus Incentive Plan. Awards previously granted under the 2006 Omnibus Incentive Plan are not affected by the plan’s termination, while shares not yet granted under the plan are not available for future issuance. 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. Commencing with the 2015 grants, restricted and performance shares issued to certain key executives and directors are subject to a one or two year holding period upon the lapse of the three year vesting period. 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, 2016: Shares Weighted Average Grant Date Fair Value Per Share Balance at December 31, 2015 758,550 $ 27.19 Granted 7,000 32.25 Vested (14,850 ) 33.19 Forfeited (7,350 ) 31.47 Balance at June 30, 2016 743,350 $ 27.08 We recorded compensation expense related to restricted shares and performance-based shares of $2.3 million ($1.5 million, net of tax) and $2.5 million ($1.6 million, net of tax) for the six months ended June 30, 2016 and 2015, respectively. The unamortized compensation expense related to our restricted and performance-based shares was $10.1 million at June 30, 2016, and is expected to be recognized as they vest over a weighted average period of 5.4 years and 0.8 years for employees and directors, respectively.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2016
Employee Benefits [Abstract]
Employee Benefits	Note 11. Employee Benefits The components of net periodic benefit cost for our postretirement benefit plans for the three months and six months ended June 30, 2016 and 2015 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, Postretirement benefits 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 3 1 6 8 Amortization of prior service cost (14 ) (29 ) (27 ) (58 ) Actuarial net loss 115 328 390 762 Net periodic benefit cost (credit) $ 104 $ 300 $ 369 $ 712 For the six months ended June 30, 2016, 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 2016. We maintain a defined contribution Supplemental Executive Retirement Plan 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 2016, we made company contributions to the plan of $0.3 million related to calendar year 2015. We also maintain a defined benefit unfunded Supplemental Executive Retirement Plan (“SERP”). The SERP, as amended, is a defined benefit plan pursuant to which we will pay supplemental pension benefits to certain key employees upon the attainment of a contractual participant’s payment date based upon the employees’ years of service and compensation. In October 2015, the sole remaining participant in the unfunded SERP reached his applicable payment date and, in connection therewith, received his corresponding lump-sum distribution of $7.6 million. We recorded no expense related to the plan during the three months and six months ended June 30, 2016. Net periodic benefit cost of $0.2 million and $0.5 million was recorded related to the plan for the three months and six months ended June 30, 2015. 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 the six months ended June 30, 2016, we contributed to the trust an additional 59,200 shares from our treasury and released 59,200 shares from the trust leaving 200 shares remaining in the trust as of June 30, 2016.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 12. Fair Value Measurements The carrying value of our financial instruments consisting of cash and cash equivalents, deferred compensation, and short term borrowings approximate their fair value. In each instance, fair value is determined after considering Level 1 inputs under the three-level fair value hierarchy. 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 assets held by the deferred compensation plan are based on the quoted market prices of the underlying funds which are held 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, 2016
Earnings Per Share
Earnings Per Share	Note 13. 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Basic Net Earnings Per Common Shares: Earnings from continuing operations $ 19,862 $ 13,808 $ 32,518 $ 23,147 Loss from discontinued operations (618 ) (430 ) (1,070 ) (821 ) Net earnings available to common stockholders $ 19,244 $ 13,378 $ 31,448 $ 22,326 Weighted average common shares outstanding 22,705 22,918 22,674 22,914 Earnings from continuing operations per common share $ 0.87 $ 0.60 $ 1.43 $ 1.01 Loss from discontinued operations per common share (0.02 ) (0.02 ) (0.04 ) (0.04 ) Basic net earnings per common share $ 0.85 $ 0.58 $ 1.39 $ 0.97 Diluted Net Earnings Per Common Share: Earnings from continuing operations $ 19,862 $ 13,808 $ 32,518 $ 23,147 Loss from discontinued operations (618 ) (430 ) (1,070 ) (821 ) Net earnings available to common stockholders $ 19,244 $ 13,378 $ 31,448 $ 22,326 Weighted average common shares outstanding 22,705 22,918 22,674 22,914 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 314 343 315 342 Dilutive effect of stock options - - - - Weighted average common shares outstanding – Diluted 23,019 23,261 22,989 23,256 Earnings from continuing operations per common share $ 0.86 $ 0.59 $ 1.41 $ 1.00 Loss from discontinued operations per common share (0.02 ) (0.01 ) (0.04 ) (0.04 ) Diluted net earnings per common share $ 0.84 $ 0.58 $ 1.37 $ 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Restricted and performance-based shares 338 331 341 347

Industry Segments

Industry Segments	6 Months Ended
	Jun. 30, 2016
Industry Segments [Abstract]
Industry Segments	Note 14. 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net Sales Engine Management $ 198,848 $ 176,992 $ 379,529 $ 354,063 Temperature Control 87,503 89,079 144,269 137,807 All Other 2,626 3,311 4,090 5,101 Consolidated $ 288,977 $ 269,382 $ 527,888 $ 496,971 Intersegment Revenue Engine Management $ 5,817 $ 5,030 $ 10,689 $ 10,053 Temperature Control 2,121 1,925 3,715 3,369 All Other (7,938 ) (6,955 ) (14,404 ) (13,422 ) Consolidated $ — $ — $ — $ — Operating Income Engine Management $ 30,548 $ 21,839 $ 54,752 $ 43,555 Temperature Control 5,647 3,165 7,814 1,746 All Other (4,351 ) (3,692 ) (10,703 ) (9,074 ) Consolidated $ 31,844 $ 21,312 $ 51,863 $ 36,227

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 15. 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, 2016, approximately 1,620 cases were outstanding for which we may be responsible for any related liabilities. Since inception in September 2001 through June 30, 2016, the amounts paid for settled claims are approximately $19.4 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, 2015. The updated study has estimated an undiscounted liability for settlement payments, excluding legal costs and any potential recovery from insurance carriers, ranging from $33.3 million to $51.1 million for the period through 2058. The change from the prior year study was a $2.8 million decrease for the low end of the range and a $4.3 million decrease for the high end of the range. The decrease in the estimated undiscounted liability from the prior year study at both the low end and high end of the range reflects our actual experience over the prior twelve months, 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, 2015 actuarial study, a favorable adjustment to the asbestos liability was not recorded in our consolidated financial statements as the difference between our recorded liability and the liability in the actuarial report at the low end of the range was not material. Future 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 $40 million to $75.5 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. 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, 2016 and 2015, we have accrued $26.9 million and $25.1 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Balance, beginning of period $ 26,404 $ 19,985 $ 23,395 $ 19,328 Liabilities accrued for current year sales 25,418 25,951 47,999 46,987 Settlements of warranty claims (24,876 ) (20,788 ) (44,448 ) (41,167 ) Balance, end of period $ 26,946 $ 25,148 $ 26,946 $ 25,148

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) 2016-02, Leases 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. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date effective for annual reporting periods beginning after December 15, 2017, which for us is January 1, 2018, Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting Balance Sheet Classification of Deferred Taxes In November 2015, the FASB issued ASU Balance Sheet Classification of Deferred Taxes, Simplifying the Measurement of Inventory In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory 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. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, Simplifying the Accounting for Measurement-Period Adjustments In September 2015, the FASB issued ASU Simplifying the Accounting for Measurement-Period Adjustments,

Business Acquisitions and Inv24

Business Acquisitions and Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Business Acquisitions and Investments [Abstract]
Allocation of Purchase Price to the Assets Acquired and Liabilities Assumed	The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed, based on their fair values (in thousands): Purchase Price $ 67,451 Assets acquired and liabilities assumed: Receivables $ 3,130 Inventory 12,567 Other current and noncurrent assets (1) 334 Property, plant and equipment, net 2,660 Intangible assets 42,440 Goodwill 12,516 Current liabilities (6,196 ) Net assets acquired $ 67,451 (1) Other current and noncurrent assets includes $0.2 million of cash acquired.
Business Acquisition Pro Forma Information	Supplemental unaudited pro forma financial information for the acquisition is as follows (in thousands): Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Reported Pro Forma Reported Pro Forma Revenues $ 288,977 $ 304,481 $ 269,382 $ 294,978 Net earnings 19,244 20,258 13,378 12,481 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Reported Pro Forma Reported Pro Forma Revenues $ 527,888 $ 567,219 $ 496,971 $ 548,726 Net earnings 31,448 32,629 22,326 23,050

Restructuring and Integration25

Restructuring and Integration Costs (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Integration (Income) Expenses	Activity, by segment, for the six months ended June 30, 2016 related to our plant rationalization program consisted of the following (in thousands): Engine Management Temperature Control Other Total Exit activity liability at December 31 $ — $ — $ — $ — Restructuring and integration costs: Amounts provided for during 2016 99 904 — 1,003 Cash payments (99 ) (40 ) — (139 ) Exit activity liability at June 30 $ — $ 864 $ — $ 864
Plant Rationalization Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Integration (Income) Expenses	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, including the plant rationalization program and other prior year restructuring programs as of December 31, 2015 and June 30, 2016 and activity for the six months ended June 30, 2016 consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2015 $ 270 $ 591 $ 861 Restructuring and integration costs: Amounts provided for during 2016 1,012 — 1,012 Cash payments (165 ) (42 ) (207 ) Exit activity liability at June 30 $ 1,117 $ 549 $ 1,666

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016 December 31, 2015 (In thousands) Finished goods $ 205,682 $ 186,782 Work-in-process 6,088 5,456 Raw materials 105,659 93,555 Total inventories $ 317,429 $ 285,793

Acquired Intangible Assets (Tab

Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Acquired Intangible Assets [Abstract]
Acquired Identifiable Intangible Assets	Acquired identifiable intangible assets consist of the following: June 30, 2016 December 31, 2015 (In thousands) Customer relationships $ 87,506 $ 48,475 Trademarks and trade names 6,800 6,800 Non-compete agreements 3,208 970 Patents 723 723 Supply agreements 800 — Leaseholds 160 160 Total acquired intangible assets 99,197 57,128 Less accumulated amortization (1) (31,667 ) (29,040 ) Net acquired intangible assets $ 67,530 $ 28,088 (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-Te28

Credit Facilities and Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Credit Facilities and Long-Term Debt [Abstract]
Summary of Total Debt Outstanding	Total debt outstanding is summarized as follows: June 30, 2016 December 31, 2015 (In thousands) Revolving credit facilities $ 99,994 $ 47,427 Other 186 78 Total debt $ 100,180 $ 47,505 Current maturities of debt $ 100,036 $ 47,443 Long-term debt 144 62 Total debt $ 100,180 $ 47,505

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	Changes in Accumulated Other Comprehensive Income by Component (in thousands) Three Months Ended June 30, 2016 Foreign Currency Translation Adjustments Unrecognized Postretirement Benefit Costs (Credit) Total Balance at March 31, 2016 $ (4,173 ) $ (358 ) $ (4,531 ) Other comprehensive income before reclassifications (1,938 ) 180 (1,758 ) Amounts reclassified from accumulated other comprehensive income — 58 58 Other comprehensive income, net (1,938 ) 238 (1,700 ) Balance at June 30 $ (6,111 ) $ (120 ) $ (6,231 ) Six Months Ended June 30, 2016 Foreign Currency Translation Adjustments Unrecognized Postretirement Benefit Costs (Credit) Total Balance at December 31, 2015 $ (5,958 ) $ (516 ) $ (6,474 ) Other comprehensive income before reclassifications (153 ) 184 31 Amounts reclassified from accumulated other comprehensive income — 212 212 Other comprehensive income, net (153 ) 396 243 Balance at June 30 $ (6,111 ) $ (120 ) $ (6,231 )
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications Out of Accumulated Other Comprehensive Income (in thousands) Details About Accumulated Other Comprehensive Income Components Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Amortization of postretirement benefit plans: Prior service benefit (1) $ (14 ) $ (27 ) Unrecognized loss (1) 115 390 Total before income tax 101 363 Income tax expense (43 ) (151 ) Total reclassifications for the period $ 58 $ 212 (1) These accumulated other comprehensive income components are included in the computation of net periodic postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 11 for additional details).

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation Plans [Abstract]
Restricted and Performance-based Share Activity	Our restricted and performance-based share activity was as follows for the six months ended June 30, 2016: Shares Weighted Average Grant Date Fair Value Per Share Balance at December 31, 2015 758,550 $ 27.19 Granted 7,000 32.25 Vested (14,850 ) 33.19 Forfeited (7,350 ) 31.47 Balance at June 30, 2016 743,350 $ 27.08

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Employee Benefits [Abstract]
Components of Net Periodic Benefit Cost for Postretirement Benefit Plans	The components of net periodic benefit cost for our postretirement benefit plans for the three months and six months ended June 30, 2016 and 2015 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, Postretirement benefits 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 3 1 6 8 Amortization of prior service cost (14 ) (29 ) (27 ) (58 ) Actuarial net loss 115 328 390 762 Net periodic benefit cost (credit) $ 104 $ 300 $ 369 $ 712

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Basic Net Earnings Per Common Shares: Earnings from continuing operations $ 19,862 $ 13,808 $ 32,518 $ 23,147 Loss from discontinued operations (618 ) (430 ) (1,070 ) (821 ) Net earnings available to common stockholders $ 19,244 $ 13,378 $ 31,448 $ 22,326 Weighted average common shares outstanding 22,705 22,918 22,674 22,914 Earnings from continuing operations per common share $ 0.87 $ 0.60 $ 1.43 $ 1.01 Loss from discontinued operations per common share (0.02 ) (0.02 ) (0.04 ) (0.04 ) Basic net earnings per common share $ 0.85 $ 0.58 $ 1.39 $ 0.97 Diluted Net Earnings Per Common Share: Earnings from continuing operations $ 19,862 $ 13,808 $ 32,518 $ 23,147 Loss from discontinued operations (618 ) (430 ) (1,070 ) (821 ) Net earnings available to common stockholders $ 19,244 $ 13,378 $ 31,448 $ 22,326 Weighted average common shares outstanding 22,705 22,918 22,674 22,914 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 314 343 315 342 Dilutive effect of stock options - - - - Weighted average common shares outstanding – Diluted 23,019 23,261 22,989 23,256 Earnings from continuing operations per common share $ 0.86 $ 0.59 $ 1.41 $ 1.00 Loss from discontinued operations per common share (0.02 ) (0.01 ) (0.04 ) (0.04 ) Diluted net earnings per common share $ 0.84 $ 0.58 $ 1.37 $ 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Restricted and performance-based shares 338 331 341 347

Industry Segments (Tables)

Industry Segments (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net Sales Engine Management $ 198,848 $ 176,992 $ 379,529 $ 354,063 Temperature Control 87,503 89,079 144,269 137,807 All Other 2,626 3,311 4,090 5,101 Consolidated $ 288,977 $ 269,382 $ 527,888 $ 496,971 Intersegment Revenue Engine Management $ 5,817 $ 5,030 $ 10,689 $ 10,053 Temperature Control 2,121 1,925 3,715 3,369 All Other (7,938 ) (6,955 ) (14,404 ) (13,422 ) Consolidated $ — $ — $ — $ — Operating Income Engine Management $ 30,548 $ 21,839 $ 54,752 $ 43,555 Temperature Control 5,647 3,165 7,814 1,746 All Other (4,351 ) (3,692 ) (10,703 ) (9,074 ) Consolidated $ 31,844 $ 21,312 $ 51,863 $ 36,227

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Changes in Product Warranties	The following table provides the changes in our product warranties (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Balance, beginning of period $ 26,404 $ 19,985 $ 23,395 $ 19,328 Liabilities accrued for current year sales 25,418 25,951 47,999 46,987 Settlements of warranty claims (24,876 ) (20,788 ) (44,448 ) (41,167 ) Balance, end of period $ 26,946 $ 25,148 $ 26,946 $ 25,148

Basis of Presentation (Details)

Basis of Presentation (Details)	Jun. 30, 2016
Basis of Presentation [Abstract]
Equity ownership in entities included in consolidated financial statements, minimum	50.00%

Business Acquisitions and Inv36

Business Acquisitions and Investments, General Cable Corporation Acquisitions (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
		May 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Assets acquired and liabilities assumed [Abstract]
Goodwill			$ 54,881	$ 67,207
General Cable Corporation [Member]
Business Acquisition [Line Items]
Percentage of equity interest acquired		100.00%
Revenue reported by acquired entity for last annual period			$ 96,000
Allocation of purchase price to the assets acquired and liabilities assumed [Abstract]
Purchase price:		$ 67,451
Assets acquired and liabilities assumed [Abstract]
Receivables		3,130
Inventory		12,567
Other current and noncurrent assets	[1]	334
Property, plant and equipment, net		2,660
Intangible assets		42,440
Goodwill		12,516
Current liabilities		(6,196)
Net assets acquired		67,451
Cash acquired		200
Intangible assets acquired in business acquisition		42,400
General Cable Corporation [Member] | Customer Relationships [Member]
Assets acquired and liabilities assumed [Abstract]
Intangible assets acquired in business acquisition		$ 39,400
Estimated useful life of intangible assets		15 years
General Cable Corporation [Member] | Non-Compete Agreements [Member]
Assets acquired and liabilities assumed [Abstract]
Intangible assets acquired in business acquisition		$ 2,200
Estimated useful life of intangible assets		5 years
General Cable Corporation [Member] | Supply Agreement [Member]
Assets acquired and liabilities assumed [Abstract]
Intangible assets acquired in business acquisition		$ 800
Estimated useful life of intangible assets		1 year
[1]	Other current and noncurrent assets includes $0.2 million of cash acquired.

Business Acquisitions and Inv37

Business Acquisitions and Investments, Pro Forma Information (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition, Pro Forma Information [Abstract]
Revenues		$ 288,977	$ 269,382	$ 527,888	$ 496,971
General Cable Corporation [Member]
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 8,500
Pro Forma, Revenues		304,481	294,978	567,219	548,726
Pro Forma, Net earnings		20,258	12,481	32,629	23,050
General Cable Corporation [Member] | Reported [Member]
Business Acquisition, Pro Forma Information [Abstract]
Pro Forma, Revenues		288,977	269,382	527,888	496,971
Pro Forma, Net earnings		$ 19,244	$ 13,378	$ 31,448	$ 22,326

Restructuring and Integration38

Restructuring and Integration Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	$ 861
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	1,012
Cash payments	(207)
Exit activity liability, end of period	1,666
Plant Rationalization Program [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	0
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	1,003
Cash payments	(139)
Exit activity liability, end of period	864
Restructuring and related cost, Expected cost [Abstract]
Restructuring and integration expenses expected to be incurred	5,000
Engine Management [Member] | Plant Rationalization Program [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	0
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	99
Cash payments	(99)
Exit activity liability, end of period	0
Temperature Control [Member] | Plant Rationalization Program [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	0
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	904
Cash payments	(40)
Exit activity liability, end of period	864
Other [Member] | Plant Rationalization Program [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	0
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	0
Cash payments	0
Exit activity liability, end of period	0
Workforce Reduction [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	270
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	1,012
Cash payments	(165)
Exit activity liability, end of period	1,117
Other Exit Costs [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period	591
Restructuring and integration costs [Abstract]
Amounts provided for during 2016	0
Cash payments	(42)
Exit activity liability, end of period	$ 549

Sale of Receivables (Details)

Sale of Receivables (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Sale of Receivables [Abstract]
Sale of receivables to financial institutions	$ 201.7	$ 196.6	$ 367.6	$ 340.6
Charge related to sale of receivables	$ 4.9	$ 4	$ 8.9	$ 6.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventories [Abstract]
Finished goods	$ 205,682	$ 186,782
Work-in-process	6,088	5,456
Raw materials	105,659	93,555
Total inventories	$ 317,429	$ 285,793

Acquired Intangible Assets (Det

Acquired Intangible Assets (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
		May 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets			$ 99,197		$ 99,197		$ 57,128
Less accumulated amortization	[1]		(31,667)		(31,667)		(29,040)
Net acquired intangible assets			67,530		67,530		28,088
Amortization of acquired intangible assets [Abstract]
Amortization expense			1,500	$ 1,200	2,700	$ 2,500
Estimated amortization expense, remainder of 2016			4,300		4,300
Estimated amortization expense in year 2017			8,100		8,100
Estimated amortization expense in year 2018			7,600		7,600
Estimated amortization expense in year 2019			6,400		6,400
Estimated amortization expense in years 2020 through 2031			35,900		35,900
Customer Relationships [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets			87,506		87,506		48,475
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			3,208		3,208		970
Patents [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets			723		723		723
Supply Agreements [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets			800		800		0
Leaseholds [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Total acquired intangible assets			$ 160		$ 160		$ 160
General Cable Corporation [Member]
Intangible assets acquired [Abstract]
Intangible assets acquired in business acquisition		$ 42,400
General Cable Corporation [Member] | Customer Relationships [Member]
Intangible assets acquired [Abstract]
Intangible assets acquired in business acquisition		$ 39,400
Estimated useful life of intangible assets		15 years
General Cable Corporation [Member] | Non-compete Agreements [Member]
Intangible assets acquired [Abstract]
Intangible assets acquired in business acquisition		$ 2,200
Estimated useful life of intangible assets		5 years
General Cable Corporation [Member] | Supply Agreements [Member]
Intangible assets acquired [Abstract]
Intangible assets acquired in business acquisition		$ 800
Estimated useful life of intangible assets		1 year
[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-Te42

Credit Facilities and Long-Term Debt, Total Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Credit Facilities and Long-Term Debt [Abstract]
Revolving credit facilities	$ 99,994	$ 47,427
Other	186	78
Total debt	100,180	47,505
Current maturities of debt	100,036	47,443
Long-term debt	$ 144	$ 62

Credit Facilities and Long-Te43

Credit Facilities and Long-Term Debt, Revolving Credit Facility (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
General Electric Capital Corporation Credit Facility [Member] | Index Loan [Member]
Line of Credit Facility [Line Items]
Average daily loan balance outstanding		$ 3,900
Line of Credit [Member] | CANADA [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000
JPMorgan Chase Bank Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	250,000
Line of credit facility, additional borrowing capacity	$ 50,000
Maturity date	Oct. 31, 2020
Additional available borrowing capacity	$ 114,400
Outstanding borrowings under credit facility	$ 100,000		$ 47,400
Weighted average interest rate	1.90%		1.70%
Coverage ratio	1
JPMorgan Chase Bank Credit Agreement [Member] | Pay Cash dividend [Member]
Line of Credit Facility [Line Items]
Agreement permissions	$ 20,000
JPMorgan Chase Bank Credit Agreement [Member] | Stock Repurchase [Member]
Line of Credit Facility [Line Items]
Agreement permissions	20,000
JPMorgan Chase Bank Credit Agreement [Member] | The Credit Agreement Also Permits Acquisitions, Permissible Debt, Cash Dividend Payments And Stock Repurchases [Member]
Line of Credit Facility [Line Items]
Agreement permissions	20,000
JPMorgan Chase Bank Credit Agreement [Member] | Minimum [Member] | Stock Repurchase [Member]
Line of Credit Facility [Line Items]
Borrowing base	$ 25,000
JPMorgan Chase Bank Credit Agreement [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Margin on variable rate	1.25%
JPMorgan Chase Bank Credit Agreement [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Margin on variable rate	1.75%
JPMorgan Chase Bank Credit Agreement [Member] | Index Loan [Member]
Line of Credit Facility [Line Items]
Average daily loan balance outstanding			$ 4,900
JPMorgan Chase Bank Credit Agreement [Member] | Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility	$ 8,000		$ 3,400
Weighted average interest rate	3.80%		3.80%
Average daily loan balance outstanding	$ 3,000		$ 4,900
JPMorgan Chase Bank Credit Agreement [Member] | Alternate Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Margin on variable rate	0.25%
JPMorgan Chase Bank Credit Agreement [Member] | Alternate Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Margin on variable rate	0.75%
JPMorgan Chase Bank Credit Agreement [Member] | Fixed Assets Included in Borrowing Base [Member]
Line of Credit Facility [Line Items]
Borrowing base	$ 31,250
Borrowing base percentage	12.50%
JPMorgan Chase Bank Credit Agreement [Member] | Fixed Assets Not Included in Borrowing Base [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Borrowing base	$ 25,000
Borrowing base percentage	10.00%
JPMorgan Chase Bank Credit Agreement [Member] | Direct Borrowings [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility	$ 92,000		$ 44,000
Weighted average interest rate	1.80%		1.60%

Credit Facilities and Long-Te44

Credit Facilities and Long-Term Debt, Deferred Financing Costs (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Deferred Financing Costs [Abstract]
Deferred financing costs	$ 1.4	$ 1.6
Amortization of financing costs reminder of 2016	0.2
2,017	0.3
2,018	0.3
2,019	0.3
2,020	$ 0.3

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Changes in accumulated other comprehensive income [Roll Forward]
Balance			$ 391,979
Other comprehensive income before reclassifications	$ (1,758)		31
Amounts reclassified from accumulated other comprehensive income	58		212
Total other comprehensive income (loss), net of tax	(1,700)	$ 1,384	243	$ (1,334)
Balance	420,482		420,482
AOCI Attributable to Parent [Member]
Changes in accumulated other comprehensive income [Roll Forward]
Balance	(4,531)		(6,474)
Total other comprehensive income (loss), net of tax			243
Balance	(6,231)		(6,231)
Foreign Currency Translation Adjustments [Member]
Changes in accumulated other comprehensive income [Roll Forward]
Balance	(4,173)		(5,958)
Other comprehensive income before reclassifications	(1,938)		(153)
Amounts reclassified from accumulated other comprehensive income	0		0
Total other comprehensive income (loss), net of tax	(1,938)		(153)
Balance	(6,111)		(6,111)
Unrecognized Postretirement Benefit Costs (Credit) [Member]
Changes in accumulated other comprehensive income [Roll Forward]
Balance	(358)		(516)
Other comprehensive income before reclassifications	180		184
Amounts reclassified from accumulated other comprehensive income	58		212
Total other comprehensive income (loss), net of tax	238		396
Balance	$ (120)		$ (120)

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income, Reclassified (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Amortization of postretirement benefit plans [Abstract]
Prior service benefit		$ (14)	$ (29)	$ (27)	$ (58)
Unrecognized loss		115	512	390	1,130
Income tax expense		(164)	$ (367)	(272)	$ (608)
Total reclassifications for the period		58		212
Reclassification out of Accumulated Other Comprehensive Income [Member]
Amortization of postretirement benefit plans [Abstract]
Prior service benefit	[1]	(14)		(27)
Unrecognized loss	[1]	115		390
Total before income tax		101		363
Income tax expense		(43)		(151)
Total reclassifications for the period		$ 58		$ 212
[1]	These accumulated other comprehensive income components are included in the computation of net periodic postretirement benefit costs, which are included in selling, general and administrative expenses in our consolidated statements of operations (see Note 11 for additional details).

Stock-Based Compensation Plan47

Stock-Based Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Additional Disclosures [Abstract]
Compensation expense, gross	$ 2,736	$ 2,927
Performance-based Shares [Member]
Restricted and Performance Stock Grants [Abstract]
Measuring period for performance-based shares	3 years
Restricted Shares [Member] | Employees [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	5.00%
Restricted Shares [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	0.00%
Restricted Shares [Member] | Directors [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	0.00%
Restricted Shares [Member] | Age 60 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	25.00%
Restricted Shares [Member] | Age 63 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	25.00%
Restricted Shares [Member] | Age65 [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	100.00%
Restricted and Performance-Based Shares [Member]
Restricted and performance-based stock, shares [Roll Forward]
Beginning of period (in shares)	758,550
Granted (in shares)	7,000
Vested (in shares)	(14,850)
Forfeited (in shares)	(7,350)
End of period (in shares)	743,350
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Beginning of period (in dollars per share)	$ 27.19
Granted (in dollars per share)	32.25
Vested (in dollars per share)	33.19
Forfeited (in dollars per share)	31.47
End of period (in dollars per share)	$ 27.08
Additional Disclosures [Abstract]
Compensation expense, gross	$ 2,300	2,500
Compensation expense, net of tax	1,500	$ 1,600
Unamortized compensation expense	$ 10,100
Restricted and Performance-Based Shares [Member] | Employees [Member]
Additional Disclosures [Abstract]
Weighted average period of recognition for unrecognized compensation expense	5 years 4 months 24 days
Restricted and Performance-Based Shares [Member] | Directors [Member]
Additional Disclosures [Abstract]
Weighted average period of recognition for unrecognized compensation expense	9 months 18 days
Restricted and Performance-Based Shares [Member] | Executives and Directors [Member]
Restricted and Performance Stock Grants [Abstract]
Expiration of vesting period	3 years
Restricted and Performance-Based Shares [Member] | Executives and Directors [Member] | Minimum [Member]
Restricted and Performance Stock Grants [Abstract]
Post vesting holding period for restricted and performance shares issued	1 year
Restricted and Performance-Based Shares [Member] | Executives and Directors [Member] | Maximum [Member]
Restricted and Performance Stock Grants [Abstract]
Post vesting holding period for restricted and performance shares issued	2 years
2016 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)	1,100,000

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	Oct. 30, 2015	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Stock Ownership Plan and Trust (ESOP) [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Additional shares contributed to ESOP (in shares)					59,200
Shares released from trust (in shares)			59,200		59,200
Total remaining balance of shares in the ESOP (in shares)			200		200
Postretirement Benefits [Member]
Net Periodic benefit costs related to retirement plans [Abstract]
Service cost			$ 0	$ 0	$ 0	$ 0
Interest cost			3	1	6	8
Amortization of prior service cost			(14)	(29)	(27)	(58)
Actuarial net loss			115	328	390	762
Net periodic benefit cost (credit)			104	300	369	712
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]
Net Periodic benefit costs related to retirement plans [Abstract]
Net periodic benefit cost (credit)			$ 0	$ 200	$ 0	$ 500
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Contributions by employer on behalf of employees	$ 7,600
Employer discretionary contribution amount		$ 300

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic Net Earnings Per Common Shares [Abstract]
Earnings from continuing operations	$ 19,862	$ 13,808	$ 32,518	$ 23,147
Loss from discontinued operation	(618)	(430)	(1,070)	(821)
Net earnings available to common stockholders	$ 19,244	$ 13,378	$ 31,448	$ 22,326
Weighted average common shares outstanding (in shares)	22,705,310	22,917,718	22,673,811	22,914,322
Earnings from continuing operations per common share (in dollars per share)	$ 0.87	$ 0.60	$ 1.43	$ 1.01
Loss from discontinued operations per common share (in dollars per share)	(0.02)	(0.02)	(0.04)	(0.04)
Net earnings per common share - Basic (in dollars per share)	$ 0.85	$ 0.58	$ 1.39	$ 0.97
Diluted Net Earnings Per Common Share [Abstract]
Earnings from continuing operations	$ 19,862	$ 13,808	$ 32,518	$ 23,147
Loss from discontinued operation	(618)	(430)	(1,070)	(821)
Net earnings available to common stockholders	$ 19,244	$ 13,378	$ 31,448	$ 22,326
Weighted average common shares outstanding (in shares)	22,705,310	22,917,718	22,673,811	22,914,322
Plus incremental shares from assumed conversions [Abstract]
Dilutive effect of restricted stock and performance-based stock (in shares)	314,000	343,000	315,000	342,000
Dilutive effect of stock options (in shares)	0	0	0	0
Weighted average common shares outstanding - Diluted (in shares)	23,018,730	23,261,094	22,988,502	23,256,255
Earnings from continuing operations per common share (in dollars per share)	$ 0.86	$ 0.59	$ 1.41	$ 1
Loss from discontinued operations per common share (in dollars per share)	(0.02)	(0.01)	(0.04)	(0.04)
Net earnings per common share - Diluted (in dollars per share)	$ 0.84	$ 0.58	$ 1.37	$ 0.96
Restricted and Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	338,000	331,000	341,000	347,000

Industry Segments (Details)

Industry Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Segment	Jun. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable operating segments | Segment			2
Net sales	$ 288,977	$ 269,382	$ 527,888	$ 496,971
Operating Income	31,844	21,312	51,863	36,227
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	198,848	176,992	379,529	354,063
Operating Income	30,548	21,839	54,752	43,555
Engine Management [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	5,817	5,030	10,689	10,053
Temperature Control [Member] | Reportable Segments [Member]
Segment Reporting Information [Line Items]
Net sales	87,503	89,079	144,269	137,807
Operating Income	5,647	3,165	7,814	1,746
Temperature Control [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	2,121	1,925	3,715	3,369
All Other [Member]
Segment Reporting Information [Line Items]
Net sales	2,626	3,311	4,090	5,101
Operating Income	(4,351)	(3,692)	(10,703)	(9,074)
All Other [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ (7,938)	$ (6,955)	$ (14,404)	$ (13,422)

Commitments and Contingencies51

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended		178 Months Ended
	Jun. 30, 2016USD ($)Claim	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Claim	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Claim
Changes in product warranties [Roll forward]
Balance, beginning of period	$ 26,404	$ 19,985	$ 23,395	$ 19,328
Liabilities accrued for current year sales	25,418	25,951	47,999	46,987
Settlements of warranty claims	(24,876)	(20,788)	(44,448)	(41,167)
Balance, end of period	$ 26,946	$ 25,148	$ 26,946	$ 25,148	$ 26,946
Asbestos [Member]
Loss Contingencies [Line Items]
Pending claims, approximate number | Claim	1,620		1,620		1,620
Payment for settled claims					$ 19,400
Decrease for low end of range			$ 2,800
Decrease for high end of range			4,300
Asbestos [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Range of possible loss	$ 33,300		33,300		33,300
Asbestos [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Range of possible loss	51,100		51,100		51,100
Asbestos [Member] | Discontinued Operations [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Range of possible loss	40,000		40,000		40,000
Asbestos [Member] | Discontinued Operations [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Range of possible loss	$ 75,500		$ 75,500		$ 75,500