Superior Industries International (SUP) 10-Q 29 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Statement - shares	6 Months Ended
	Jun. 26, 2016	Jul. 28, 2016
Entity Registrant Name	SUPERIOR INDUSTRIES INTERNATIONAL INC
Entity Central Index Key	95,552
Current Fiscal Year End Date	--12-25
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 26, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		25,415,991
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Condensed Consolidated Income S

Condensed Consolidated Income Statements - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
NET SALES	$ 182,709	$ 183,940	$ 368,774	$ 357,669
Cost of sales	153,012	162,455	311,332	323,089
Restructuring Charges	157	1,565	187	3,438
Cost of Goods Sold, Including Restructuring Costs	153,169	164,020	311,519	326,527
GROSS PROFIT	29,540	19,920	57,255	31,142
Selling, general and administrative expenses	10,000	8,881	18,993	16,433
INCOME (LOSS) FROM OPERATIONS	19,540	11,039	38,262	14,709
Interest income, net	79	57	111	142
Other income (expense), net	(372)	(362)	(105)	(544)
INCOME (LOSS) BEFORE INCOME TAXES	19,247	10,734	38,268	14,307
Income tax (provision) benefit	(6,082)	(4,200)	(10,640)	(3,439)
NET INCOME (LOSS)	$ 13,165	$ 6,534	$ 27,628	$ 10,868
INCOME (LOSS) PER SHARE - BASIC	$ 0.52	$ 0.24	$ 1.08	$ 0.41
INCOME (LOSS) PER SHARE - DILUTED	0.52	0.24	1.08	0.40
DIVIDENDS DECLARED PER SHARE	$ 0.18	$ 0.18	$ 0.36	$ 0.36

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Net income (loss)	$ 13,165	$ 6,534	$ 27,628	$ 10,868
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	(6,821)	(2,311)	(8,666)	(6,036)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(6,734)	(928)	(5,416)	(3,020)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	1,216	(266)	2,210
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(6,734)	288	(5,682)	(810)
Defined benefit pension plan:
Amortization of amounts resulting from changes in actuarial assumptions	84	134	168	268
Tax provision	(30)	(50)	(62)	(100)
Pension changes, net of tax	54	84	106	168
Other comprehensive income (loss), net of tax	(13,501)	(1,939)	(14,242)	(6,678)
Comprehensive income	$ (336)	$ 4,595	$ 13,386	$ 4,190

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 27, 2015
Current assets:
Cash and cash equivalents	$ 37,475	$ 52,036
Short term investments	750	950
Accounts receivable, net	112,366	112,588
Inventories	73,920	61,769
Income taxes receivable	610	1,104
Other current assets	25,674	14,476
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current	2,897	2,897
Total current assets	253,692	245,820
Accrued Income Taxes, Current	3,585	6,735
Property, plant and equipment, net	223,871	234,646
Investment in and advances to unconsolidated affiliate	2,000	2,000
Non-current deferred income taxes, net	25,269	25,598
Non-current assets	33,005	31,865
Total assets	537,837	539,929
Current liabilities:
Accounts payable	20,982	20,913
Accrued expenses	44,664	46,214
Total current liabilities	69,231	73,862
Non-current income tax liabilities	4,842	4,510
Non-current deferred income tax liabilities, net	7,417	8,094
Other non-current liabilities	48,189	39,551
Commitments and contingencies (Note 14)	0	0
Shareholders' equity:
Preferred stock, no par value, Authorized - 1,000,000 shares, Issued - none	0	0
Common stock, no par value, Authorized - 100,000,000 shares, Issued and outstanding - 26,632,794 shares, (27,155,550 shares at December 29, 2013)	88,906	88,108
Accumulated other comprehensive loss	(115,955)	(101,713)
Retained earnings	435,207	427,517
Total shareholders' equity	408,158	413,912
Total liabilities and shareholders' equity	$ 537,837	$ 539,929

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 26, 2016	Dec. 27, 2015
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	26,727,997	26,730,247
Common stock, shares outstanding	26,727,997	26,730,247
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 28, 2015	Jun. 26, 2016
NET CASH PROVIDED BY OPERATING ACTIVITIES	$ 25,208	$ 24,522
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment	(23,335)	(17,692)
Proceeds from sales and maturities of investments	2,600	200
Purchase of investments	0	0
Proceeds from sale of property, plant and equipment	1,758	1
Other	315	0
NET CASH USED IN INVESTING ACTIVITIES	(18,662)	(17,491)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(9,589)	(9,232)
Payments for Repurchase of Common Stock	(7,547)	(13,098)
Proceeds from exercise of stock options	6,484	898
Excess tax benefits from exercise of stock options	6	0
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(10,646)	(21,432)
Effect of exchange rate changes on cash	(1,010)	(160)
Net decrease in cash and cash equivalents	(5,110)	(14,561)
Cash and cash equivalents at the beginning of the period		52,036
Cash and cash equivalents at the end of period	$ 57,341	$ 37,475

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Shareholders' Equity - 6 months ended Jun. 26, 2016 - USD ($) $ in Thousands	Total	Common Stock Including Additional Paid in Capital [Member]	Pension Plans, Defined Benefit [Member]	Accumulated Translation Adjustment [Member]	Retained Earnings [Member]	Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Share balance at Dec. 27, 2015	26,730,247	26,098,895
Balance at Dec. 27, 2015	$ 413,912	$ 88,108	$ (4,140)	$ (88,284)	$ 427,517	$ (9,289)
Net income	27,628
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(5,682)
Change in employee benefit plans, net of taxes	106		106
Net foreign currency translation adjustment	$ (8,666)			(8,666)
Stock Options Exercised, Shares	50,158	48,908
Stock Options Exercised, Value	$ 898	$ 898
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		1,557
Stock Based Compensation Expense	2,314	$ 2,314
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	0	$ 0
Stock Repurchased and Retired During Period, Shares		(723,669)
Stock Repurchased and Retired During Period, Value	(13,098)	$ (2,414)			(10,684)
Dividends, Cash	(9,254)				(9,254)
Balance at Jun. 26, 2016	$ 408,158	$ 88,906	$ (4,034)	$ (96,950)	$ 435,207	$ (14,971)
Share balance at Jun. 26, 2016	26,727,997	25,425,691

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 26, 2016
Nature of Operations [Abstract]
Nature of Operations [Text Block]	Nature of Operations Headquartered in Southfield, Michigan, the principal business of Superior Industries International, Inc. (referred to herein as the “company” or “we,” “us” and “our”) is the design and manufacture of aluminum wheels for sale to original equipment manufacturers ("OEMs"). We are one of the largest suppliers of cast aluminum wheels to the world’s leading automobile and light truck manufacturers, with manufacturing operations in the United States and Mexico. Customers in North America represent the principal market for our products. As described in Note 6 - Business Segments, the company operates as a single integrated business and, as such, has only one operating segment - automotive wheels. Ford Motor Company ("Ford"), General Motors Company ("GM") and Toyota Motor Company ("Toyota") were our customers individually accounting for more than 10 percent of our consolidated sales in the first two quarters of 2016 and together represented approximately 82 percent of our trade sales during the first two quarters of 2016 . Additionally, Fiat Chrysler Automotive N.V. ("FCA") individually accounted for 7 percent of our consolidated sales during the first two quarters of 2016 and together with Ford, GM and Toyota represented approximately 89 percent of our trade sales during the first two quarters of 2016 . We also manufacture aluminum wheels for BMW, Mazda, Nissan, Subaru, Tesla and Volkswagen. The loss of all or a substantial portion of our sales to Ford, GM or Toyota would have a significant adverse impact on our operating results and financial condition. This risk is partially mitigated by our long-term relationships with these OEM customers and our supply arrangements, which are generally for multi-year periods. Demand for automobiles and light trucks (including SUVs and crossover vehicles) in the North American market is subject to many unpredictable factors such as changes in the general economy, gasoline prices, consumer credit availability and interest rates. Demand for aluminum wheels can be further affected by other factors, including pricing and performance compared to competitive materials such as steel. Additionally, the demand for our products is influenced by shifts of market share between vehicle manufacturers and the specific market penetration of individual vehicle platforms being sold by our customers. While we historically have had long-term relationships with our customers and our supply arrangements generally are for multi-year periods, maintaining such long-term arrangements on terms acceptable to us remains difficult. Global competitive pricing pressures continue to affect our business negatively as our customers maintain and/or further develop alternative supplier options. Increasingly, global procurement practices and competition, and the pressure for price reductions, may make it more difficult to maintain long-term supply arrangements with our customers. As a result, there can be no guarantees that we will be able to negotiate supply arrangements with our customers on terms acceptable to us in the future. We are engaged in ongoing programs to reduce our own costs through improved operational and procurement practices in an attempt to mitigate the impact of these pricing pressures. However, these improvement programs may not be sufficient to offset the adverse impact of ongoing pricing pressures and potential reductions in customer demand in future periods. Additional factors such as inconsistent customer ordering patterns, increasing product complexity and heightened quality standards also are making it increasingly difficult to reduce our costs. It is also possible that as we incur costs to implement improvement strategies, the initial impact of these strategies on our financial position, results of operations and cash flow may be negative. The raw materials used in producing our products are readily available and are obtained through suppliers with whom we have, in many cases, relatively long-standing trade relations.

Derivative Financial Instrument

Derivative Financial Instruments (Notes)	6 Months Ended
	Jun. 26, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Financial Instruments We use derivatives to partially offset our business exposure to foreign currency risk. We may enter into forward contracts, option contracts, swaps, collars or other derivative instruments to offset some of the risk on expected future cash flows and on certain existing assets and liabilities. However, we may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange rates. To help protect gross margins from fluctuations in foreign currency exchange rates, certain of our subsidiaries whose functional currency is the U.S. dollar hedge a portion of forecasted foreign currency costs. Generally, we may hedge portions of our forecasted foreign currency exposure associated with costs, typically for up to 42 months . We record all derivatives in the consolidated balance sheets at fair value. Our accounting treatment for these instruments is based on the hedge designation. The effective portions of cash flow hedges are recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged item is recognized in earnings. The ineffective portions of cash flow hedges are recorded in cost of sales. Derivatives that are not designated as hedging instruments are adjusted to fair value through earnings in the financial statement line item to which the derivative relates. Deferred gains and losses associated with cash flow hedges of foreign currency costs are recognized as a component of cost of sales in the same period as the related cost is recognized. Our foreign currency transactions hedged with cash flow hedges as of June 26, 2016 , are expected to occur within 1 month to 42 months . Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period. Deferred gains and losses in AOCI associated with such derivative instruments are reclassified immediately into other income and expense. Any subsequent changes in fair value of such derivative instruments are reflected in other income and expense unless they are re-designated as hedges of other transactions. We had no gains or losses recognized in other income and expense for foreign currency forward and option contracts not designated as hedging instruments during the twenty-six week period ended June 26, 2016 or the year ended December 27, 2015 . The following table displays the fair value of derivatives by balance sheet line item: June 26, 2016 December 27, 2015 (Dollars in thousands) Other Non-current Assets Accrued Liabilities Other Non-current Liabilities Other Non-current Assets Accrued Liabilities Other Non-current Liabilities Foreign exchange forward contracts and collars designated as hedging instruments $ 21 $ 10,466 $ 9,657 $ 113 $ 9,629 $ 4,530 Total derivative instruments $ 21 $ 10,466 $ 9,657 $ 113 $ 9,629 $ 4,530 The following table summarizes the notional amount and estimated fair value of our derivative financial instruments: June 26, 2016 December 27, 2015 (Dollars in thousands) U.S. Dollar Notional Amount Fair Value U.S. Dollar Notional Amount Fair Value Foreign exchange forward contracts and collars designated as hedging instruments $ 152,914 $ 20,102 $ 162,590 $ 14,046 Total derivative financial instruments $ 152,914 $ 20,102 $ 162,590 $ 14,046 Notional amounts are presented on a gross basis. The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates, or commodity volumes and prices. The following table provides the impact of derivative instruments designated as cash flow hedges on our consolidated income statement: Twenty-six Week Period Ended June 26, 2016 Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion) Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion) Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (Dollars in thousands) Foreign exchange forward contracts and collars $ (5,682 ) $ (6,412 ) $ (74 ) Total $ (5,682 ) $ (6,412 ) $ (74 )

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	6 Months Ended
	Jun. 26, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements The company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as when we have an asset impairment. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. The carrying amounts for cash and cash equivalents, investments in certificates of deposit, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short period of time until maturity. Cash and Cash Equivalents Included in cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash, and which are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. A debt security is classified as a cash equivalent if it meets these criteria and if it has a remaining time to maturity of three months or less from the date of acquisition. Amounts on deposit and available upon demand, or negotiated to provide for daily liquidity without penalty, are classified as cash and cash equivalents. Time deposits, certificates of deposit, and money market accounts that meet the above criteria are reported at par value on our balance sheet and are excluded from the table below. Derivative Financial Instruments Our derivatives are over-the-counter customized derivative transactions and are not exchange traded. We estimate the fair value of these instruments using industry-standard valuation models such as a discounted cash flow model. These models project future cash flows and discount the future amounts to a present value using market-based expectations for interest rates, foreign exchange rates, commodity prices, and the contractual terms of the derivative instruments. The discount rate used is the relevant interbank deposit rate (e.g., LIBOR) plus an adjustment for non-performance risk. In certain cases, market data may not be available and we may use broker quotes and models (e.g., Black-Scholes) to determine fair value. This includes situations where there is lack of liquidity for a particular currency or commodity or when the instrument is longer dated. Cash Surrender Value The cash surrender value of the life insurance policies is the sum of money the insurance company will pay to the company in the event the policy is voluntarily terminated before its maturity or the insured event occurs. Over the term of the life insurance contracts, the cash surrender value changes as a result of premium payments and investment income offset by investment losses, charges and miscellaneous fees. The amount of the asset recorded for the investment in the life insurance contracts is based on the amount that will be realized under the contract as of the balance sheet date if the insured event occurs. The following table categorizes items measured at fair value at June 26, 2016 : Fair Value Measurement at Reporting Date Using Quoted Prices Significant Other Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs June 26, 2016 Total (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets Certificates of deposit $ 750 $ — $ 750 $ — Cash surrender value 7,101 — 7,101 — Derivative contracts 21 — 21 — Total $ 7,872 $ — $ 7,872 $ — Liabilities Derivative contracts $ 20,123 $ — $ 20,123 $ — Total $ 20,123 $ — $ 20,123 $ — The following table categorizes items measured at fair value at December 27, 2015: Fair Value Measurement at Reporting Date Using Quoted Prices Significant Other Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs December 27, 2015 Total (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets Certificates of deposit $ 950 $ — $ 950 $ — Cash surrender value 6,923 — 6,923 — Derivative contracts 113 — 113 — Total $ 7,986 $ — $ 7,986 $ — Liabilities Derivative contracts $ 14,159 $ — $ 14,159 $ — Total $ 14,159 $ — $ 14,159 $ —

Line of Credit (Notes)

Line of Credit (Notes)	6 Months Ended
	Jun. 26, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Line of Credit On December 19, 2014, we entered into a senior secured credit agreement (the "Credit Agreement") with J.P. Morgan Securities LLC, JP Morgan Chase Bank, N.A. (“JPMCB”) and Wells Fargo Bank, National Association (together with JPMCB, the “Lenders”). The Credit Agreement consists of a senior secured revolving credit facility in an initial aggregate principal amount of $100.0 million (the “Facility”). In addition, the company is entitled to request, subject to certain terms and conditions and the agreement of the Lenders, an increase in the aggregate revolving commitments under the Facility or to obtain incremental term loans in an aggregate amount not to exceed $50.0 million , which currently is uncommitted to by any lenders. We intend to use the proceeds of the Facility to finance the working capital needs, and for the general corporate purposes of the company and its subsidiaries. The company has $97.0 million of availability after giving effect to $3.0 million in outstanding letters of credit as of June 26, 2016 . The Credit Agreement expires on December 19, 2019 and borrowings under the Facility accrue interest at (i) a London interbank offered rate plus a margin of between 0.75 percent and 1.25 percent based on the total leverage ratio of Superior and its subsidiaries on a consolidated basis, (ii) a rate based on JPMCB’s prime rate plus a margin of between 0.00 percent and 0.25 percent based on the total leverage ratio of the company and its subsidiaries on a consolidated basis or (iii) a combination thereof. Commitment fees are 0.2 percent on the unused portion of the facility. The commitment fees are included as interest expense in our consolidated financial statements. Generally, all amounts under the Facility are guaranteed by certain of the U.S. subsidiaries of the company and are secured by a first priority security interest in and lien on the personal property of the company and the U.S. guarantors (as defined in the Credit Agreement) and a pledge of and first perfected security interest in the equity interests of the company’s existing and future U.S. subsidiaries and 65 percent of the equity interests in certain non-U.S. direct material subsidiaries of the company and the U.S. guarantors under the Facility. The Credit Agreement contains certain customary restrictive covenants, including, among others, financial covenants requiring the maintenance of a maximum total leverage ratio and a minimum fixed charge coverage ratio, and also includes, without limitation, covenants, in each case with certain exceptions and allowances, limiting the ability of the company and its subsidiaries to incur indebtedness, grant liens, make investments, dispose of assets, make certain restrictive payments, make optional payments and modifications of subordinated debt instruments, enter into certain transactions with affiliates, enter into swap agreements, make capital expenditures or make changes to its lines of business. At June 26, 2016 , we were in compliance with all covenants contained in the Credit Agreement. At June 26, 2016 , we had no borrowings under this facility other than the outstanding letters of credit referred to above. The Credit Agreement contains customary default provisions, representations and warranties and restrictive covenants. The Credit Agreement also contains a provision permitting the lenders to accelerate the repayment of all loans outstanding under the Facility during an event of default.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 26, 2016
Accounting Policies [Abstract]
BasisOfPresentationSignificantAccountingPoliciesAndPriorPeriodAdjustments [Text Block]	Presentation of Condensed Consolidated Financial Statements During interim periods, we follow the accounting policies set forth in our Annual Report on Form 10-K for the fiscal year ended December 27, 2015 (the "2015 Annual Report on Form 10-K") and apply appropriate interim financial reporting standards for a fair statement of our operating results and financial position in conformity with accounting principles generally accepted in the United States of America, as codified by the Financial Accounting Standards Board ("FASB") in the Accounting Standards Codification ("ASC") (referred to herein as "U.S. GAAP"), as indicated below. Users of financial information produced for interim periods in 2016 are encouraged to read this Quarterly Report on Form 10-Q in conjunction with our consolidated financial statements and notes thereto filed with the Securities and Exchange Commission ("SEC") in our 2015 Annual Report on Form 10-K. Interim financial reporting standards require us to make estimates that are based on assumptions regarding the outcome of future events and circumstances not known at that time, including the use of estimated effective tax rates. Inevitably, some assumptions will not materialize, unanticipated events or circumstances may occur which vary from those estimates and such variations may significantly affect our future results. Additionally, interim results may not be indicative of our results for future interim periods or our annual results. We use a 4-4-5 convention for our fiscal quarters, which are thirteen week periods generally ending on the last Sunday of each calendar quarter. We refer to these thirteen week fiscal periods as “quarters” throughout this report. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the SEC’s requirements for quarterly reports on Form 10-Q and, in our opinion, contain all adjustments, of a normal and recurring nature, which are necessary for a fair statement of (i) the condensed consolidated statements of operations for the thirteen and twenty-six week periods ended June 26, 2016 and June 28, 2015 , (ii) the condensed consolidated statements of comprehensive (loss) income for the thirteen and twenty-six week periods ended June 26, 2016 and June 28, 2015 , (iii) the condensed consolidated balance sheets at June 26, 2016 and December 27, 2015 , (iv) the condensed consolidated statements of cash flows for the twenty-six week periods ended June 26, 2016 and June 28, 2015 , and (v) the condensed consolidated statement of shareholders’ equity for the twenty-six week period ended June 26, 2016 . However, the accompanying unaudited condensed consolidated financial statements do not include all information and notes required by U.S. GAAP. The condensed consolidated balance sheet as of December 27, 2015 , included in this report, was derived from our 2015 audited financial statements, but does not include all disclosures required by U.S. GAAP. New Accounting Pronouncements In May 2014, the FASB issued an Accounting Standards Update ("ASU') entitled “Revenue from Contracts with Customers.” The ASU requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB approved a one-year deferral of the effective date. Under the standard it is required to be adopted by public business entities in annual periods beginning on or after December 15, 2017. We are evaluating the impact this guidance will have on our financial position and statement of operations. In July 2015, the FASB issued an ASU entitled “Simplifying the Measurement of Inventory.” The ASU replaces the current lower of cost or market test with a lower of cost or net realizable value test when cost is determined on a first-in, first-out or average cost basis. The standard is effective for public entities for annual reporting periods beginning after December 15, 2016, and interim periods therein. It is to be applied prospectively and early adoption is permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. In February 2016, the FASB issued an ASU entitled "Leases." The ASU requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. The ASU offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. In March 2016, the FASB issued an ASU entitled "Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." The objective of the ASU is to simplify several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations.

Restructuring (Notes)

Restructuring (Notes)	6 Months Ended
	Jun. 26, 2016
Restructuring [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring On July 30, 2014, we announced the planned closure of our wheel manufacturing facility located in Rogers, Arkansas. During the fourth quarter of 2014, we shifted production to our other locations and closed operations at the Rogers facility. The closure resulted in a reduction of the workforce of approximately 500 employees. The action was undertaken in order to reduce costs and enhance our global competitive position. The results for the first half of 2015 reflect $3.4 million of additional costs charged to gross profit due to the closure of our Rogers facility, charges totaling $0.2 million in SG&A for the write-down of the carrying value of the aircraft we sold in February 2015 and a $0.5 million gain on the sale of the idle warehousing facility located in West Memphis, Arkansas. Additional expenses related to the Rogers facility fixed assets and other closure costs are expected to continue throughout 2016 . As noted above the operations ceased at the Rogers facility during the fourth quarter of 2014. The property is currently held for sale. Based on the current carrying value of the land and building of $2.9 million , we do not expect a loss on sale at this time. In addition, after production ceased at the facility, machinery and equipment to be held and used at our other plants will be transferred, with the carrying values depreciating over the remaining estimated useful lives of these assets. We transferred a significant amount of assets to other facilities during 2015 and we determined that some of the assets will not ultimately be transferred. For the assets that were not transferred, we recorded a $2.7 million impairment during 2015. The total cost expected to be incurred as a result of the Rogers facility closure is $15.6 million , of which $0.2 million and $3.4 million was recognized as of June 26, 2016 and June 28, 2015, respectively. The following table summarizes the Rogers, Arkansas plant closure costs and classification in the condensed consolidated statements of operations for the period ended June 26, 2016 : (Dollars in thousands) Costs Incurred Through December 27, 2015 Costs Incurred During the Twenty-six Week Period Ended June 26, 2016 Costs Remaining Total Expected Costs Classification Accelerated and other depreciation of assets idled $ 7,006 $ 156 $ 619 $ 7,781 Cost of sales, Restructuring costs Severance costs 2,011 — — 2,011 Cost of sales, Restructuring costs Equipment removal and impairment, inventory written-down, lease termination and other costs 5,424 31 347 5,802 Cost of sales, Restructuring costs $ 14,441 $ 187 $ 966 $ 15,594 Changes in the accrued expenses related to restructuring liabilities during the twenty-six weeks ended June 26, 2016 are summarized as follows: (Dollars in thousands) Balance December 28, 2014 $ 215 Restructuring accruals 114 Cash payments (304 ) Balance December 27, 2015 25 Restructuring accruals — Cash payments (1 ) Balance June 26, 2016 $ 24

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 26, 2016
Share-based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation 2008 Equity Incentive Plan Our 2008 Equity Incentive Plan (the "Plan") was amended and restated effective May 22, 2013 upon approval by our stockholders at our annual meeting of stockholders. As amended, the Plan authorizes us to issue up to 3.5 million shares of common stock, along with non-qualified stock options, stock appreciation rights, restricted stock and performance units to our officers, key employees, non-employee directors and consultants. At June 26, 2016 , there were 2.2 million shares available for future grants under this Plan. No more than 600,000 shares may be used under the Plan as “full value” awards, which include restricted stock and performance stock units. It is our policy to issue shares from authorized but not issued shares upon the exercise of stock options. Options are granted at not less than fair market value on the date of grant and expire no later than ten years after the date of grant. Options and restricted shares granted under this Plan generally require no less than a three year ratable vesting period. During the first six months of 2016 no stock options were granted or expired, 50,158 stock options were exercised and 24,750 options were canceled. Restricted stock awards, or “full value” awards, generally vest ratably over no less than a three year period. Shares of restricted stock granted under the Plan are considered issued and outstanding at the date of grant, have the same dividend and voting rights as other outstanding common stock, are subject to forfeiture if employment terminates prior to vesting, and are expensed ratably over the vesting period. Dividends paid on the restricted shares granted under the Plan are non-forfeitable if the restricted shares do not ultimately vest. During the first quarter of 2015, the company implemented a long term incentive program for the benefit of certain members of company management. The program was designed to strengthen employee retention and to provide a more structured incentive program to stimulate improvement in future company results. Per the terms of the program, participants were granted, in 2015 and 2016, time value restricted stock units (“RSUs”), vesting ratably over a three year time period, and performance restricted stock units (“PSUs”), with a three year cliff vesting. Upon vesting, each restricted stock award is exchangeable for one share of the company’s common stock, with accrued dividends. The PSUs are categorized further into three individual categories whose vesting is contingent upon the achievement of certain targets as follows: • 40 % of the PSUs vest upon certain Return on Invested Capital targets for 2016 and 2015 units • 40 % of the PSUs vest upon certain Cumulative EPS targets for 2016 units • 40 % of the PSUs vest upon certain EBITDA margin targets for 2015 units • 20 % of the PSUs vest upon certain market based Shareholder Return targets for 2016 and 2015 units. In the aggregate, the company granted a total of 345,270 RSUs and PSUs in 2016 and 2015, net of forfeitures, comprising: 2016 Grants • 26,841 time value based RSUs with a grant date fair value of $22.82 per unit • 32,051 time value based RSUs with a grant date fair value of $18.72 per unit • 20,629 time value based RSUs with a grant date fair value of $25.45 per unit • 42,946 PSUs with an initial grant date fair value of $22.82 per unit • 51,282 PSUs with an initial grant date fair value of $18.72 per unit • 10,736 market based PSUs with a grant date fair value of $22.82 per unit • 12,821 market based PSUs with a grant date fair value of $18.72 per unit 2015 Grants • 44,503 time value based RSUs with a grant date fair value of $18.78 per unit • 82,770 PSUs with an initial grant date fair value of $18.78 per unit • 20,692 market based PSUs with a grant date fair value of $24.81 per unit. Stock-based compensation expense related to our equity incentive plans in accordance with U.S. GAAP was allocated as follows: (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, June 28, June 26, June 28, Cost of sales $ 282 $ 102 $ 358 $ 194 Selling, general and administrative expenses 1,476 656 1,956 1,122 Stock-based compensation expense before income taxes 1,758 758 2,314 1,316 Income tax benefit (515 ) (284 ) (648 ) (494 ) Total stock-based compensation expense after income taxes $ 1,243 $ 474 $ 1,666 $ 822 As of June 26, 2016 , a total of $6.3 million of unrecognized compensation cost related to non-vested awards is expected to be recognized over a weighted average period of approximately 1.9 years . There were no significant capitalized stock-based compensation costs at June 26, 2016 and December 27, 2015 .

Business Segments

Business Segments	6 Months Ended
	Jun. 26, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segments The company's Chief Executive Officer is our chief operating decision maker ("CODM") because he has final authority over performance assessment and resource allocation decisions. The CODM evaluates both consolidated and disaggregated financial information for each of the company's business units in deciding how to allocate resources and assess performance. Each manufacturing facility manufactures the same products, ships products to the same group of customers, utilizes the same cast manufacturing process and, as a result, production can generally be transferred among our facilities. Accordingly, we operate as a single integrated business and, as such, have only one operating segment - automotive wheels. Geographic Information Net sales by geographic location are as follows: (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended Net sales: June 26, June 28, June 26, June 28, U.S. $ 30,673 $ 41,708 $ 68,069 $ 85,327 Mexico 152,036 142,232 300,705 272,342 Consolidated net sales $ 182,709 $ 183,940 $ 368,774 $ 357,669 Long Lived Assets Long-lived assets includes property, plant and equipment, net, by geographic location as follows: Property, plant and equipment, net: June 26, December 27, U.S. $ 41,829 $ 44,274 Mexico 182,042 190,372 Consolidated property, plant and equipment, net $ 223,871 $ 234,646

Pre-Production Costs Related to

Pre-Production Costs Related to Long-Term Supply Arrangements	6 Months Ended
	Jun. 26, 2016
Pre-Production Costs and Deferred Revenue Related to Long-Term Supply Arrangements [Abstract]
PreProductionCostsandDeferredRevenueRelatedtoLongTermSupplyArrangements [Text Block]	Preproduction Costs Related to Long-Term Supply Arrangements We incur preproduction engineering and tooling costs related to the products produced for our customers under long-term supply agreements. We expense all preproduction engineering costs for which reimbursement is not contractually guaranteed by the customer or which are in excess of the contractually guaranteed reimbursement amount. We amortize the cost of the customer-owned tooling over the expected life of the wheel program on a straight line basis. Also, we defer any reimbursements made to us by our customers and recognize the tooling reimbursement revenue over the same period in which the tooling is in use. Changes in the facts and circumstances of individual wheel programs may accelerate the amortization of both the cost of customer-owned tooling and the deferred tooling reimbursement revenues. Recognized tooling reimbursement revenues, which totaled $3.9 million and $3.2 million for the twenty-six weeks ended June 26, 2016 and June 28, 2015 , respectively, are included in net sales in the condensed consolidated statements of operations. The following tables summarize the unamortized customer-owned tooling costs included in our non-current assets, and the deferred tooling revenues included in accrued liabilities and other non-current liabilities: (Dollars in Thousands) June 26, 2016 December 27, 2015 Unamortized Preproduction Costs Preproduction costs $ 76,788 $ 73,095 Accumulated amortization (61,601 ) (58,632 ) Net preproduction costs $ 15,187 $ 14,463 Deferred Tooling Revenues Accrued expenses $ 3,524 $ 2,908 Other non-current liabilities 4,707 1,266 Total deferred tooling revenues $ 8,231 $ 4,174

Income Per Share

Income Per Share	6 Months Ended
	Jun. 26, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share In accordance with U.S. GAAP, basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, net income is divided by the total of the weighted average shares outstanding plus the dilutive effect of our outstanding stock options under the treasury stock method, which includes consideration of stock-based compensation required by U.S. GAAP. (Dollars in thousands, except per share amounts) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, June 28, June 26, June 28, Basic Income Per Share: Reported net income $ 13,165 $ 6,534 $ 27,628 $ 10,868 Basic income per share $ 0.52 $ 0.24 $ 1.08 $ 0.41 Weighted average shares outstanding - Basic 25,430 26,719 25,512 26,788 Diluted Income Per Share: Reported net income $ 13,165 $ 6,534 $ 27,628 $ 10,868 Diluted income per share $ 0.52 $ 0.24 $ 1.08 $ 0.40 Weighted average shares outstanding 25,430 26,719 25,512 26,788 Weighted average dilutive stock options and restricted stock units 113 47 75 48 Weighted average shares outstanding - Diluted 25,543 26,766 25,587 26,836 For the first half of 2016 and 2015, no options were excluded from the diluted earnings per share calculation as being anti-dilutive. In addition, the performance shares discussed in Note 16 - Stock-Based Compensation are not included in the diluted earnings per share because the performance metrics had not been met as of the period ended June 26, 2016.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 26, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The estimated annual effective tax rate is forecasted quarterly using actual historical information and forward-looking estimates and applied to year-to-date ordinary income (loss). The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances, settlements with taxing authorities and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The income tax provision for the thirteen weeks ended June 26, 2016 was $6.1 million , representing an effective income tax rate of 32 percent . The income tax provision for the twenty-six weeks ended June 26, 2016 , was $10.6 million , representing an effective income tax rate of 28 percent . The effective tax rates for the thirteen and twenty-six weeks ended June 26, 2016 were lower than the statutory rate due to the mix of income before taxes for entities included in our effective tax rate calculation and the effect of the business restructuring to realign our operations, which was implemented in the fourth quarter of 2015. The income tax provision for the thirteen weeks ended June 28, 2015 was $4.2 million , representing an effective income tax rate of 39 percent. The income tax provision for the twenty-six weeks ended June 28, 2015 , was $3.4 million , representing an effective income tax rate of 24 percent . The effective tax rates for the thirteen and twenty-six weeks ended June 28, 2015 were lower than the statutory rate due to the release of certain liabilities related to uncertain tax positions as a result of the expiration of statute of limitations, partially offset by certain non-deductible expenses, state income taxes (net of federal tax benefit) and interest and penalties on unrecognized tax benefits.

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 26, 2016
Short-term Investments [Abstract]
Cash, Cash Equivalents, and Short-term Investments [Text Block]	Short-Term Investments The company's short-term investments include certificates of deposit and fixed deposits with original maturities of three months or less. Certificates of deposit and fixed deposits whose original maturity is greater than three months and is one year or less are classified as short-term investments and certificates of deposit and fixed deposits whose maturity is greater than one year at the balance sheet date are classified as non-current assets in our condensed consolidated balance sheets. The purchase of any certificates of deposit or fixed deposits that are classified as short-term investments or non-current assets appear in the investing section of our condensed consolidated statements of cash flows. Restricted Deposits We purchase certificates of deposit that mature within twelve months and are used to secure or collateralize letters of credit securing our workers’ compensation obligations. At June 26, 2016 and December 27, 2015 , certificates of deposit totaling $0.8 million and $1.0 million , respectively, were restricted in use and were classified as short-term investments on our condensed consolidated balance sheets.

Inventories

Inventories	6 Months Ended
	Jun. 26, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Inventories (Dollars in thousands) June 26, 2016 December 27, 2015 Raw materials $ 35,345 $ 19,148 Work in process 17,011 21,063 Finished goods 21,564 21,558 Inventories $ 73,920 $ 61,769 Service wheel and supplies inventory included in other non-current assets in the condensed consolidated balance sheets totaled $7.0 million and $6.9 million at June 26, 2016 and December 27, 2015 , respectively. Included in raw materials were operating supplies and spare parts totaling $10.6 million and $9.2 million on June 26, 2016 and December 27, 2015 , respectively.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 26, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Property, Plant and Equipment (Dollars in thousands) June 26, 2016 December 27, 2015 Land and buildings $ 70,173 $ 73,803 Machinery and equipment 486,234 486,612 Leasehold improvements and others 4,619 4,204 Construction in progress 20,146 20,455 581,172 585,074 Accumulated depreciation (357,301 ) (350,428 ) Property, plant and equipment, net $ 223,871 $ 234,646 Depreciation expense was $17.3 million and $17.0 million for the twenty-six weeks ended June 26, 2016 and June 28, 2015 , respectively.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 26, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Retirement Plans We have an unfunded salary continuation plan covering certain directors, officers and other key members of management. We purchase life insurance policies on certain participants to provide in part for future liabilities. Cash surrender value of these policies, totaling $7.1 million and $6.9 million at June 26, 2016 and December 27, 2015 , respectively, are included in other non-current assets in the company's condensed consolidated balance sheets. Subject to certain vesting requirements, the plan provides for a benefit based on final average compensation, which becomes payable on the employee's death or upon attaining age 65 , if retired. The plan was closed to new participants effective February 3, 2011. We have measured the plan assets and obligations of our salary continuation plan for all periods presented. For the twenty-six weeks ended June 26, 2016 , payments to retirees or their beneficiaries totaled approximately $0.8 million . We presently anticipate benefit payments in 2016 to total approximately $1.6 million . The following table summarizes the components of net periodic pension cost for the first two quarters of 2016 and 2015 . (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 Service cost $ — $ 11 $ — $ 22 Interest cost 304 307 608 615 Net amortization 84 134 168 267 Net periodic pension cost $ 388 $ 452 $ 776 $ 904

Common Stock Repurchase Program

Common Stock Repurchase Programs (Notes)	6 Months Ended
	Jun. 26, 2016
Common Stock Repurchase Programs [Abstract]
Common Stock Repurchase Program [Text Block]	Common Stock Repurchase Programs In March 2013, our Board of Directors approved a new stock repurchase program (the "2013 Repurchase Program"), which authorized the repurchase of up to $30.0 million of our common stock. This 2013 Repurchase Program replaced the previously existing share repurchase program. Shares repurchased under the 2013 Repurchase Program totaled 1,510,759 at a cost of $30.0 million , including 1,089,560 shares repurchased at a cost of $21.8 million in 2014. Accordingly, no additional shares may be repurchased under the 2013 Repurchase Program. All repurchased shares described above were canceled and retired. In October 2014, our Board of Directors approved a new stock repurchase program (the "2014 Repurchase Program") which authorized the repurchase of up to $30.0 million of our common stock. Under the 2014 Repurchase Program, we repurchased common stock from time to time on the open market or in private transactions. Shares repurchased under the 2014 Repurchase Program totaled 1,056,954 at a cost of $19.6 million , all of which were repurchased during 2015. The 2014 Repurchase Program was completed in January 2016, with purchases since December 27, 2015 of 585,970 shares at a cost of $10.3 million . The repurchased shares described above were either canceled and retired or added to treasury stock after the reincorporation in Delaware in 2015. In January 2016, our Board of Directors approved a new stock repurchase program (the “2016 Repurchase Program”), authorizing the repurchase of up to $50.0 million of common stock. Under the 2016 Repurchase Program, we may repurchase common stock from time to time on the open market or in private transactions. The timing and extent of the repurchases under the 2016 Repurchase Program will depend upon market conditions and other corporate considerations in our sole discretion. Shares repurchased under the 2016 Repurchase Program totaled 137,699 shares of company stock at a cost of $2.8 million in the first half of 2016.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 26, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Derivatives and Purchase Commitments In order to hedge exposure related to fluctuations in foreign currency rates and the cost of certain commodities used in the manufacture of our products, we periodically may purchase derivative financial instruments such as forward contracts, options or collars to offset or mitigate the impact of such fluctuations. Programs to hedge currency rate exposure may address ongoing transactions including foreign-currency-denominated receivables and payables, as well as specific transactions related to purchase obligations. Programs to hedge exposure to commodity cost fluctuations would be based on underlying physical consumption of such commodities. Historically, we have not actively engaged in substantial exchange rate hedging activities and, prior to 2014, we had not entered into any significant foreign exchange contracts. However, as a result of customer requirements, a significant shift is occurring in the currency denominated in our contracts with our customers. As a result of this change, the vast majority of our revenues in 2016 and beyond will be denominated in the U.S. dollar, rather than a more balanced mix of U.S. dollar and Mexican peso. In the past, we have relied upon significant revenues denominated in the Mexican peso to provide a "natural hedge" against foreign exchange rate changes impacting our peso-denominated costs incurred at our facilities in Mexico. Accordingly, the foreign exchange exposure associated with peso-denominated costs is a growing risk that could have a material adverse effect on our operating results. In accordance with our corporate risk management policies, we may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, certain firmly committed transactions and forecasted future cash flows. We have implemented a program to hedge a portion of our material foreign exchange exposures for up to approximately 42 months . We do not use derivative contracts for trading, market-making, or speculative purposes. For additional information on our derivatives, see Note 5 - Derivative Financial Instruments. When market conditions warrant, we may also enter into purchase commitments to secure the supply of certain commodities used in the manufacture of our products, such as aluminum, natural gas and other raw materials. We had several purchase commitments in place for the delivery of natural gas through 2015. These natural gas contracts are considered to be derivatives under U.S. GAAP, and when entering into these contracts, it was expected that we would take full delivery of the contracted quantities of natural gas over the normal course of business. Accordingly, at inception, these contracts qualified for the normal purchase, normal sale ("NPNS") exemption provided for under U.S. GAAP. As such, we do not account for these purchase commitments as derivatives unless there is a change in facts or circumstances in regard to the company's intent or ability to use the contracted quantities of natural gas over the normal course of business. Other We are party to various legal and environmental proceedings incidental to our business. Certain claims, suits and complaints arising in the ordinary course of business have been filed or are pending against us. Based on facts now known, we believe all such matters are adequately provided for, covered by insurance, are without merit and/or involve such amounts that would not materially adversely affect our consolidated results of operations, cash flows or financial position.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 26, 2016
Accounting Policies [Abstract]
Derivatives, Methods of Accounting, Hedging Derivatives [Policy Text Block]	Deferred gains and losses associated with cash flow hedges of foreign currency costs are recognized as a component of cost of sales in the same period as the related cost is recognized. Derivative Financial Instruments We use derivatives to partially offset our business exposure to foreign currency risk. We may enter into forward contracts, option contracts, swaps, collars or other derivative instruments to offset some of the risk on expected future cash flows and on certain existing assets and liabilities. However, we may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange rates. To help protect gross margins from fluctuations in foreign currency exchange rates, certain of our subsidiaries whose functional currency is the U.S. dollar hedge a portion of forecasted foreign currency costs. Generally, we may hedge portions of our forecasted foreign currency exposure associated with costs, typically for up to 42 months . We record all derivatives in the consolidated balance sheets at fair value. Our accounting treatment for these instruments is based on the hedge designation. The effective portions of cash flow hedges are recorded in Accumulated Other Comprehensive Income ("AOCI") until the hedged item is recognized in earnings. The ineffective portions of cash flow hedges are recorded in cost of sales. Our foreign currency transactions hedged with cash flow hedges as of June 26, 2016 , are expected to occur within 1 month to 42 months . Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period. Deferred gains and losses in AOCI associated with such derivative instruments are reclassified immediately into other income and expense. Any subsequent changes in fair value of such derivative instruments are reflected in other income and expense unless they are re-designated as hedges of other transactions. We had no gains or losses recognized in other income and expense for foreign currency forward and option contracts not designated as hedging instruments during the twenty-six week period ended June 26, 2016 or the year ended December 27, 2015 .
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges [Policy Text Block]	Derivatives that are not designated as hedging instruments are adjusted to fair value through earnings in the financial statement line item to which the derivative relates.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as when we have an asset impairment. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.
Basis of Accounting, Policy [Policy Text Block]	During interim periods, we follow the accounting policies set forth in our Annual Report on Form 10-K for the fiscal year ended December 27, 2015 (the "2015 Annual Report on Form 10-K") and apply appropriate interim financial reporting standards for a fair statement of our operating results and financial position in conformity with accounting principles generally accepted in the United States of America, as codified by the Financial Accounting Standards Board ("FASB") in the Accounting Standards Codification ("ASC") (referred to herein as "U.S. GAAP"), as indicated below. Users of financial information produced for interim periods in 2016 are encouraged to read this Quarterly Report on Form 10-Q in conjunction with our consolidated financial statements and notes thereto filed with the Securities and Exchange Commission ("SEC") in our 2015 Annual Report on Form 10-K. We use a 4-4-5 convention for our fiscal quarters, which are thirteen week periods generally ending on the last Sunday of each calendar quarter. We refer to these thirteen week fiscal periods as “quarters” throughout this report. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the SEC’s requirements for quarterly reports on Form 10-Q and, in our opinion, contain all adjustments, of a normal and recurring nature, which are necessary for a fair statement of (i) the condensed consolidated statements of operations for the thirteen and twenty-six week periods ended June 26, 2016 and June 28, 2015 , (ii) the condensed consolidated statements of comprehensive (loss) income for the thirteen and twenty-six week periods ended June 26, 2016 and June 28, 2015 , (iii) the condensed consolidated balance sheets at June 26, 2016 and December 27, 2015 , (iv) the condensed consolidated statements of cash flows for the twenty-six week periods ended June 26, 2016 and June 28, 2015 , and (v) the condensed consolidated statement of shareholders’ equity for the twenty-six week period ended June 26, 2016 . However, the accompanying unaudited condensed consolidated financial statements do not include all information and notes required by U.S. GAAP. The condensed consolidated balance sheet as of December 27, 2015 , included in this report, was derived from our 2015 audited financial statements, but does not include all disclosures required by U.S. GAAP.
Use of Estimates, Policy [Policy Text Block]	Interim financial reporting standards require us to make estimates that are based on assumptions regarding the outcome of future events and circumstances not known at that time, including the use of estimated effective tax rates. Inevitably, some assumptions will not materialize, unanticipated events or circumstances may occur which vary from those estimates and such variations may significantly affect our future results. Additionally, interim results may not be indicative of our results for future interim periods or our annual results.
Earnings Per Share, Policy [Policy Text Block]	In accordance with U.S. GAAP, basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, net income is divided by the total of the weighted average shares outstanding plus the dilutive effect of our outstanding stock options under the treasury stock method, which includes consideration of stock-based compensation required by U.S. GAAP.
Cash and Cash Equivalents, Policy [Policy Text Block]	The company's short-term investments include certificates of deposit and fixed deposits with original maturities of three months or less. Certificates of deposit and fixed deposits whose original maturity is greater than three months and is one year or less are classified as short-term investments and certificates of deposit and fixed deposits whose maturity is greater than one year at the balance sheet date are classified as non-current assets in our condensed consolidated balance sheets.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	New Accounting Pronouncements In May 2014, the FASB issued an Accounting Standards Update ("ASU') entitled “Revenue from Contracts with Customers.” The ASU requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB approved a one-year deferral of the effective date. Under the standard it is required to be adopted by public business entities in annual periods beginning on or after December 15, 2017. We are evaluating the impact this guidance will have on our financial position and statement of operations.

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 26, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table displays the fair value of derivatives by balance sheet line item: June 26, 2016 December 27, 2015 (Dollars in thousands) Other Non-current Assets Accrued Liabilities Other Non-current Liabilities Other Non-current Assets Accrued Liabilities Other Non-current Liabilities Foreign exchange forward contracts and collars designated as hedging instruments $ 21 $ 10,466 $ 9,657 $ 113 $ 9,629 $ 4,530 Total derivative instruments $ 21 $ 10,466 $ 9,657 $ 113 $ 9,629 $ 4,530
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table summarizes the notional amount and estimated fair value of our derivative financial instruments: June 26, 2016 December 27, 2015 (Dollars in thousands) U.S. Dollar Notional Amount Fair Value U.S. Dollar Notional Amount Fair Value Foreign exchange forward contracts and collars designated as hedging instruments $ 152,914 $ 20,102 $ 162,590 $ 14,046 Total derivative financial instruments $ 152,914 $ 20,102 $ 162,590 $ 14,046
Derivative Instruments, Gain (Loss) [Table Text Block]	The following table provides the impact of derivative instruments designated as cash flow hedges on our consolidated income statement: Twenty-six Week Period Ended June 26, 2016 Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion) Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion) Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (Dollars in thousands) Foreign exchange forward contracts and collars $ (5,682 ) $ (6,412 ) $ (74 ) Total $ (5,682 ) $ (6,412 ) $ (74 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 26, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following table categorizes items measured at fair value at December 27, 2015: Fair Value Measurement at Reporting Date Using Quoted Prices Significant Other Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs December 27, 2015 Total (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets Certificates of deposit $ 950 $ — $ 950 $ — Cash surrender value 6,923 — 6,923 — Derivative contracts 113 — 113 — Total $ 7,986 $ — $ 7,986 $ — Liabilities Derivative contracts $ 14,159 $ — $ 14,159 $ — Total $ 14,159 $ — $ 14,159 $ —

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 26, 2016
Restructuring [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Changes in the accrued expenses related to restructuring liabilities during the twenty-six weeks ended June 26, 2016 are summarized as follows: (Dollars in thousands) Balance December 28, 2014 $ 215 Restructuring accruals 114 Cash payments (304 ) Balance December 27, 2015 25 Restructuring accruals — Cash payments (1 ) Balance June 26, 2016 $ 24
Restructuring and Related Costs [Table Text Block]	Restructuring On July 30, 2014, we announced the planned closure of our wheel manufacturing facility located in Rogers, Arkansas. During the fourth quarter of 2014, we shifted production to our other locations and closed operations at the Rogers facility. The closure resulted in a reduction of the workforce of approximately 500 employees. The action was undertaken in order to reduce costs and enhance our global competitive position. The results for the first half of 2015 reflect $3.4 million of additional costs charged to gross profit due to the closure of our Rogers facility, charges totaling $0.2 million in SG&A for the write-down of the carrying value of the aircraft we sold in February 2015 and a $0.5 million gain on the sale of the idle warehousing facility located in West Memphis, Arkansas. Additional expenses related to the Rogers facility fixed assets and other closure costs are expected to continue throughout 2016 . As noted above the operations ceased at the Rogers facility during the fourth quarter of 2014. The property is currently held for sale. Based on the current carrying value of the land and building of $2.9 million , we do not expect a loss on sale at this time. In addition, after production ceased at the facility, machinery and equipment to be held and used at our other plants will be transferred, with the carrying values depreciating over the remaining estimated useful lives of these assets. We transferred a significant amount of assets to other facilities during 2015 and we determined that some of the assets will not ultimately be transferred. For the assets that were not transferred, we recorded a $2.7 million impairment during 2015. The total cost expected to be incurred as a result of the Rogers facility closure is $15.6 million , of which $0.2 million and $3.4 million was recognized as of June 26, 2016 and June 28, 2015, respectively. The following table summarizes the Rogers, Arkansas plant closure costs and classification in the condensed consolidated statements of operations for the period ended June 26, 2016 : (Dollars in thousands) Costs Incurred Through December 27, 2015 Costs Incurred During the Twenty-six Week Period Ended June 26, 2016 Costs Remaining Total Expected Costs Classification Accelerated and other depreciation of assets idled $ 7,006 $ 156 $ 619 $ 7,781 Cost of sales, Restructuring costs Severance costs 2,011 — — 2,011 Cost of sales, Restructuring costs Equipment removal and impairment, inventory written-down, lease termination and other costs 5,424 31 347 5,802 Cost of sales, Restructuring costs $ 14,441 $ 187 $ 966 $ 15,594

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 26, 2016
Share-based Compensation [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Stock-based compensation expense related to our equity incentive plans in accordance with U.S. GAAP was allocated as follows: (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, June 28, June 26, June 28, Cost of sales $ 282 $ 102 $ 358 $ 194 Selling, general and administrative expenses 1,476 656 1,956 1,122 Stock-based compensation expense before income taxes 1,758 758 2,314 1,316 Income tax benefit (515 ) (284 ) (648 ) (494 ) Total stock-based compensation expense after income taxes $ 1,243 $ 474 $ 1,666 $ 822

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 26, 2016
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Net sales by geographic location are as follows: (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended Net sales: June 26, June 28, June 26, June 28, U.S. $ 30,673 $ 41,708 $ 68,069 $ 85,327 Mexico 152,036 142,232 300,705 272,342 Consolidated net sales $ 182,709 $ 183,940 $ 368,774 $ 357,669 Long Lived Assets Long-lived assets includes property, plant and equipment, net, by geographic location as follows: Property, plant and equipment, net: June 26, December 27, U.S. $ 41,829 $ 44,274 Mexico 182,042 190,372 Consolidated property, plant and equipment, net $ 223,871 $ 234,646

Pre-Production Costs Related 31

Pre-Production Costs Related to Long-Term Supply Arrangements (Tables)	6 Months Ended
	Jun. 26, 2016
Pre-Production Costs and Deferred Revenue Related to Long-Term Supply Arrangements [Abstract]
Pre-Production Costs and Deferred Revenue Related to Long-Term Supply Arrangements [Table Text Block]	e following tables summarize the unamortized customer-owned tooling costs included in our non-current assets, and the deferred tooling revenues included in accrued liabilities and other non-current liabilities: (Dollars in Thousands) June 26, 2016 December 27, 2015 Unamortized Preproduction Costs Preproduction costs $ 76,788 $ 73,095 Accumulated amortization (61,601 ) (58,632 ) Net preproduction costs $ 15,187 $ 14,463 Deferred Tooling Revenues Accrued expenses $ 3,524 $ 2,908 Other non-current liabilities 4,707 1,266 Total deferred tooling revenues $ 8,231 $ 4,174

Income Per Share (Tables)

Income Per Share (Tables)	6 Months Ended
	Jun. 26, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	(Dollars in thousands, except per share amounts) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, June 28, June 26, June 28, Basic Income Per Share: Reported net income $ 13,165 $ 6,534 $ 27,628 $ 10,868 Basic income per share $ 0.52 $ 0.24 $ 1.08 $ 0.41 Weighted average shares outstanding - Basic 25,430 26,719 25,512 26,788 Diluted Income Per Share: Reported net income $ 13,165 $ 6,534 $ 27,628 $ 10,868 Diluted income per share $ 0.52 $ 0.24 $ 1.08 $ 0.40 Weighted average shares outstanding 25,430 26,719 25,512 26,788 Weighted average dilutive stock options and restricted stock units 113 47 75 48 Weighted average shares outstanding - Diluted 25,543 26,766 25,587 26,836

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 26, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories (Dollars in thousands) June 26, 2016 December 27, 2015 Raw materials $ 35,345 $ 19,148 Work in process 17,011 21,063 Finished goods 21,564 21,558 Inventories $ 73,920 $ 61,769

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 26, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, Plant and Equipment (Dollars in thousands) June 26, 2016 December 27, 2015 Land and buildings $ 70,173 $ 73,803 Machinery and equipment 486,234 486,612 Leasehold improvements and others 4,619 4,204 Construction in progress 20,146 20,455 581,172 585,074 Accumulated depreciation (357,301 ) (350,428 ) Property, plant and equipment, net $ 223,871 $ 234,646

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 26, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The following table summarizes the components of net periodic pension cost for the first two quarters of 2016 and 2015 . (Dollars in thousands) Thirteen Weeks Ended Twenty-six Weeks Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 Service cost $ — $ 11 $ — $ 22 Interest cost 304 307 608 615 Net amortization 84 134 168 267 Net periodic pension cost $ 388 $ 452 $ 776 $ 904

Nature of Operations (Details)

Nature of Operations (Details)	3 Months Ended	6 Months Ended
	Jun. 28, 2015	Jun. 26, 2016
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Ford, GM, Toyota, Chrysler Companies [Member]
Concentration Risk [Line Items]
Percentage of total revenue	89.00%	82.00%

Derivative Financial Instrume37

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2016	Dec. 31, 2015	Dec. 27, 2015
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 152,914		$ 162,590
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 5,682
Maximum Remaining Maturity of Foreign Currency Derivatives	42 months
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (6,412)
Gain (Loss) on Derivative Instruments, Net, Pretax	(74)
Derivative Instruments in Hedges, Liabilities, at Fair Value	20,102		14,046
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	10,466		9,629
Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	21	$ 113
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	9,657		4,530
Foreign Exchange Option [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	152,914		162,590
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	20,102		14,046
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	5,682
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(6,412)
Gain (Loss) on Derivative Instruments, Net, Pretax	(74)
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	10,466		9,629
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	21	$ 113
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	$ 9,657		$ 4,530

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015	Dec. 27, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Surrender Value, Fair Value Disclosure	$ 7,101	$ 6,923
Assets, Fair Value Disclosure	7,872		$ 7,986
Financial Liabilities Fair Value Disclosure	20,123		14,159
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0		0
Financial Liabilities Fair Value Disclosure	0		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	7,872		7,986
Financial Liabilities Fair Value Disclosure	20,123		14,159
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0		0
Financial Liabilities Fair Value Disclosure	0		0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	21
Derivative Asset			113
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	20,123		14,159
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	0		0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	21	113
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	20,123		14,159
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	0		0
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Restricted	750		950
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Restricted	0		0
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Restricted	750		950
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Restricted	0		0
Cash Surrender Value [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Surrender Value, Fair Value Disclosure	0		0
Cash Surrender Value [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Surrender Value, Fair Value Disclosure	7,101	$ 6,923
Cash Surrender Value [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Surrender Value, Fair Value Disclosure	$ 0		$ 0

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Millions	Dec. 14, 2014	Jun. 26, 2016	Dec. 19, 2014
Debt Instrument [Line Items]
Debt Intrument, Collateral, Percent of non US equity	65.00%
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	JPMCB’s prime rate
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.20%
Revolving Credit Facility [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	London interbank
J.P. Morgan Chase Bank N.A. and Wells Fargo Bank N.A. [Member] | Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit, Accordian Feature, Increase Limit			$ 50
Line of Credit Facility, Maximum Borrowing Capacity			$ 100
Line of Credit Facility, Remaining Borrowing Capacity		$ 97
Letters of Credit Outstanding, Amount		$ 3
Minimum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Minimum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Maximum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Maximum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.25%

Restructuring (Details)

Restructuring (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	24 Months Ended
	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Dec. 27, 2015USD ($)	Dec. 27, 2015USD ($)	Mar. 29, 2015USD ($)	Dec. 28, 2014USD ($)
Restructuring Cost and Reserve [Line Items]
Property, Plant and Equipment, Net	$ 223,871		$ 223,871		$ 234,646	$ 234,646
Restructuring Reserve	24		24		25	25		$ 215
Restructuring Charges	157	$ 1,565	187	$ 3,438
Payments for Restructuring			$ (1)		(304)
Rogers, Arkansas facility closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated			500
Rogers, Arkansas facility closure [Member] | Cost of Sales, Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Accelerated Depreciation			$ 156		7,006
Restructuring and Related Cost, Expected Cost Remaining	966		966
Expected Restructuring Charges	15,594		15,594
Restructuring and Related Cost, Incurred Cost			187		14,441
Restructuring Charges		$ 3,400
Accelerated Depreciation [Member] | Rogers, Arkansas facility closure [Member] | Cost of Sales, Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	619		619
Expected Restructuring Charges	7,781		7,781
One-time Termination Benefits [Member] | Rogers, Arkansas facility closure [Member] | Cost of Sales, Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Expected Restructuring Charges	2,011		2,011
Restructuring and Related Cost, Incurred Cost			0		2,011
Other Restructuring [Member] | Rogers, Arkansas facility closure [Member] | Cost of Sales, Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Expected Restructuring Charges	15,600		15,600
Other Restructuring [Member] | Rogers, Arkansas facility closure [Member] | Cost of Sales, Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	347		347
Expected Restructuring Charges	5,802		5,802
Restructuring and Related Cost, Incurred Cost			31		2,700	$ 5,424
Restructuring Charges, Excluding Accelerated Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			0		$ 114
Rogers, Arkansas facility [Member] | Rogers, Arkansas facility closure [Member]
Restructuring Cost and Reserve [Line Items]
Property, Plant and Equipment, Net	$ 2,900		$ 2,900				$ 500

Restructuring Property, plant a

Restructuring Property, plant and equipment (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Dec. 27, 2015USD ($)	Mar. 29, 2015USD ($)
Property, Plant and Equipment [Line Items]
Restructuring Charges	$ 157	$ 1,565	$ 187	$ 3,438
Property, plant and equipment, net	223,871		223,871		$ 234,646
Payments for Restructuring			$ 1		$ 304
Rogers, Arkansas facility closure [Member]
Property, Plant and Equipment [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated			500
Rogers, Arkansas facility closure [Member] | Rogers, Arkansas facility [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	2,900		$ 2,900			$ 500
Cost of Sales [Member] | Rogers, Arkansas facility closure [Member]
Property, Plant and Equipment [Line Items]
Restructuring Charges		$ 3,400
Restructuring and Related Cost, Expected Cost	15,594		15,594
Selling, General and Administrative Expenses [Member]
Property, Plant and Equipment [Line Items]
Other Depreciation and Amortization			200
Restructuring Costs, All Costs [Member] | Cost of Sales [Member] | Rogers, Arkansas facility closure [Member]
Property, Plant and Equipment [Line Items]
Restructuring and Related Cost, Expected Cost	$ 15,600		$ 15,600

Stock-Based Compensation Stock

Stock-Based Compensation Stock Option Activity (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended	16 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Dec. 27, 2015	Jun. 26, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	345,270
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	3,500,000		3,500,000		3,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2,200,000		2,200,000		2,200,000
Full Value Awards, Maximum Number of Shares Authorized Under Plan			600,000
Stock Options Exercised, Shares			50,158
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period			24,750
Capitalized share based compensation cost	$ 0		$ 0		$ 0
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 6,300,000		$ 6,300,000		$ 6,300,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition			1 year 11 months
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period			0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	26,841			44,503
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	42,946			82,770
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					40
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					2000.00%
Performance Shares [Member] | Employment agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period, Weighted Average Grant Date Fair Value	$ 22.82			$ 18.78
Market Based Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	10,736			20,692
Market Based Performance Stock Units [Member] | Employment agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period, Weighted Average Grant Date Fair Value	$ 22.82			$ 24.81
Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Chief Executive Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	32,051
Chief Executive Officer [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	51,282
Chief Executive Officer [Member] | Performance Shares [Member] | Employment agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period, Weighted Average Grant Date Fair Value	$ 18.72
Chief Executive Officer [Member] | Market Based Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period	12,821
Chief Executive Officer [Member] | Market Based Performance Stock Units [Member] | Employment agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock, Grants in Period, Weighted Average Grant Date Fair Value	$ 18.72

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	345,270
Allocated Share-based Compensation Expense	$ 1,758	$ 758	$ 2,314	$ 1,316
Income tax benefit	(515)	(284)	(648)	(494)
Total stock-based compensation expense after income taxes	1,243	474	1,666	822
Cost of Sales [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	282	102	358	194
Selling, General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 1,476	$ 656	$ 1,956	$ 1,122
Director [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	20,629
Director [Member] | Employment agreement [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 25.45

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 182,709	$ 183,940	$ 368,774	$ 357,669
Property, plant and equipment, net	223,871		223,871		$ 234,646
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	30,673	41,708	68,069	85,327
Property, plant and equipment, net	41,829		41,829		44,274
MEXICO
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	152,036	$ 142,232	300,705	$ 272,342
Property, plant and equipment, net	$ 182,042		$ 182,042		$ 190,372

Pre-Production Costs Related 45

Pre-Production Costs Related to Long-Term Supply Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Unamortized Preproduction Costs [Abstract]
Preproduction costs	$ 76,788		$ 73,095
Accumulated amortization	(61,601)		(58,632)
Net preproduction costs	15,187		14,463
Deferred Revenue [Abstract]
Accrued expenses	3,524		2,908
Other non-current liabilities	4,707		1,266
Total deferred tooling revenues	8,231		$ 4,174
Deferred Revenue, Revenue Recognized	$ 3,900	$ 3,200

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Sep. 28, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Price Range, Lower Range Limit	$ 18.37
Antidilutive Securities Excluded from Computation of Earnings Per Share, Price Range, Upper Range Limit	$ 19.19
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					8,788
Net income (loss)	$ 13,165	$ 6,534	$ 27,628	$ 10,868
Basic income (loss) per share	$ 0.52	$ 0.24	$ 1.08	$ 0.41
Weighted average shares outstanding, basic	25,430,000	26,719,000	25,512,000	26,788,000
Diluted income (loss) per share	$ 0.52	$ 0.24	$ 1.08	$ 0.40
Weighted average dilutive stock options	113,000	47,000	75,000	48,000
Weighted average shares outstanding, diluted	25,543,000	26,766,000	25,587,000	26,836,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Income Tax Examination [Line Items]
Deferred Tax Assets, Valuation Allowance					$ 3,900
Income tax (provision) benefit	$ (6,082)	$ (4,200)	$ (10,640)	$ (3,439)
Effective Income Tax Rate, Continuing Operations	32.00%	39.00%	28.00%	24.00%

Income Taxes Unrecognized Tax B

Income Taxes Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Income Tax Examination [Line Items]
Deferred Tax Assets, Valuation Allowance					$ 3,900
Income Tax Expense (Benefit)	$ 6,082	$ 4,200	$ 10,640	$ 3,439

Income Taxes Tax Jurisdictions

Income Taxes Tax Jurisdictions (Details)	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Percent	32.00%	39.00%	28.00%	24.00%

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Investments, Current	$ 0.8	$ 1

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 27, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 35,345	$ 19,148
Work in process	17,011	21,063
Finished goods	21,564	21,558
Inventories	73,920	61,769
Inventory, noncurrent	7,000	6,900
Supplies inventory	$ 10,600	$ 9,200

Property, Plant and Equipment52

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Dec. 27, 2015
Property, Plant and Equipment [Line Items]
Deferred Revenue, Revenue Recognized	$ 3,900	$ 3,200
Property, plant and equipment, gross	581,172		$ 581,172	$ 585,074
Accumulated depreciation	(357,301)		(357,301)	(350,428)
Property, plant and equipment, net	223,871		223,871	234,646
Depreciation expense		$ 17,000	17,300
Land and buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	70,173		70,173	73,803
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	486,234		486,234	486,612
Leasehold improvements and others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,619		4,619	4,204
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 20,146		$ 20,146	$ 20,455

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Cash Surrender Value of Life Insurance	$ 7,100		$ 7,100		$ 6,900
Benefits Payable, Age	65
Benefits paid			800
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			1,600
Service cost	$ 0	$ 11	0	$ 22
Interest cost	304	307	608	615
Net amortization	84	134	168	267
Net periodic pension cost	$ 388	$ 452	$ 776	$ 904

Common Stock Repurchase Progr54

Common Stock Repurchase Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended		22 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Dec. 27, 2015	Dec. 28, 2014	Dec. 28, 2014	Oct. 14, 2014	Mar. 31, 2013
Equity, Class of Treasury Stock [Line Items]
Common Shares Purchased and Retired Under Repurchase Program, Total						1,510,759
Payments for Repurchase of Common Stock		$ 7,547	$ 13,098	$ 19,600	$ 21,800	$ 30,000
Stock Repurchased and Retired During Period, Shares	585,970			1,056,954	1,089,560
2013 Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 50,000		$ 50,000					$ 30,000
2014 Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount							$ 30,000
2014 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Payments for Repurchase of Common Stock	10,300
2016 Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Payments for Repurchase of Common Stock	$ 2,800
Stock Repurchased and Retired During Period, Shares	137,699

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended		22 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Dec. 27, 2015	Dec. 28, 2014	Dec. 28, 2014	Oct. 14, 2014
Other Commitments [Line Items]
Property, plant and equipment, net	$ 223,871		$ 223,871	$ 234,646
Restricted Stock, Grants in Period	345,270
Common Shares Purchased and Retired Under Repurchase Program, Total						1,510,759
Payments for Repurchase of Common Stock		$ 7,547	13,098	$ 19,600	$ 21,800	$ 30,000
Stock Repurchased and Retired During Period, Shares	585,970			1,056,954	1,089,560
Payments to Acquire Property, Plant, and Equipment		$ 23,335	$ 17,692
Maximum Length of Time, Foreign Currency Cash Flow Hedge			42 months
2014 Program [Member]
Other Commitments [Line Items]
Stock Repurchase Program, Authorized Amount							$ 30,000
Performance Shares [Member]
Other Commitments [Line Items]
Restricted Stock, Grants in Period	42,946			82,770

restricted cash and investments

restricted cash and investments (Details) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
restricted Cash and Cash Equivalents and investments [Abstract]
Restricted Cash and Investments, Current	$ 0.8	$ 1

Uncategorized Items - sup-20160

Label	Element	Value
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	$ (5,682,000)