Barnes (B) 10-Q 27 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 25, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	BARNES GROUP INC
Entity Central Index Key	9,984
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		52,591,284

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales	$ 366,660	$ 341,802
Cost of sales	237,134	219,549
Selling and administrative expenses	72,893	65,975
Total operating costs and expenses	310,027	285,524
Operating income	56,633	56,278
Interest expense	3,892	3,349
Other expense (income), net	1,763	553
Income before income taxes	50,978	52,376
Income taxes	12,160	14,073
Net income	$ 38,818	$ 38,303
Per common share:
Basic (in dollars per share)	$ 0.73	$ 0.71
Diluted (in dollars per share)	0.72	0.70
Dividends (in dollars per share)	$ 0.14	$ 0.13
Weighted average common shares outstanding:
Basic (in shares)	53,535,424	54,179,130
Diluted (in shares)	54,089,327	54,651,835

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income		$ 38,818	$ 38,303
Other comprehensive income, net of tax
Unrealized gain on hedging activities, net of tax (1)	[1]	396	83
Foreign currency translation adjustments, net of tax (2)	[2]	26,953	18,609
Defined benefit pension and other postretirement benefits, net of tax (3)	[3]	3,164	1,265
Total other comprehensive income, net of tax		30,513	19,957
Total comprehensive income		69,331	58,260
Unrealized (loss) income on hedging activities, tax		148	38
Foreign currency translation adjustment, tax		162	67
Defined benefit pension and other postretirement benefits, tax		$ 1,257	$ 901
[1]	Net of tax of $148 and $38 for the three months ended March 31, 2018 and 2017, respectively.
[2]	Net of tax of $162 and $67 for the three months ended March 31, 2018 and 2017, respectively.
[3]	Net of tax of $1,257 and $901 for the three months ended March 31, 2018 and 2017, respectively.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 104,701	$ 145,290
Accounts receivable, less allowances (2018 - $5,589; 2017 - $5,143)	394,910	348,943
Inventories	250,217	241,962
Prepaid expenses and other current assets	54,544
Prepaid expenses and other current assets	(6,028)
Total current assets	804,372	768,721
Deferred income taxes	9,848	12,161
Property, plant and equipment	841,400	835,341
Less accumulated depreciation	(477,413)	(476,043)
Property, plant and equipment, net	363,987	359,298
Goodwill	705,294	690,223
Other intangible assets, net	501,809	507,042
Other assets	30,886	28,271
Total assets	2,416,196	2,365,716
Current liabilities
Notes and overdrafts payable	14,896	5,669
Accounts payable	132,076	127,521
Accrued liabilities	204,820	181,241
Long-term debt - current	3,008	1,330
Total current liabilities	354,800	315,761
Long-term debt	503,180	525,597
Accrued retirement benefits	87,760	89,000
Deferred income taxes	75,192	73,505
Long-term tax liability	79,770	79,770
Other liabilities	19,908	21,762
Commitments and contingencies (Note 14)
Stockholders' equity
Common stock - par value $0.01 per share Authorized: 150,000,000 shares Issued: at par value (2018 - 63,054,123 shares; 2017 - 63,034,240 shares)	631	630
Additional paid-in capital	460,239	457,365
Treasury stock, at cost (2018 - 10,190,418 shares; 2017 - 9,656,369 shares)	(331,607)	(297,998)
Retained earnings	1,261,540	1,206,723
Accumulated other non-owner changes to equity	(95,217)	(106,399)
Total stockholders' equity	1,295,586	1,260,321
Total liabilities and stockholders' equity	$ 2,416,196	$ 2,365,716

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,589	$ 5,143
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	63,054,123	63,034,240
Treasury stock, at cost (in shares)	10,190,418	9,656,369

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net income	$ 38,818	$ 38,303
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,677	21,366
Gain on disposition of property, plant and equipment	(158)	(46)
Stock compensation expense	2,501	2,490
Changes in assets and liabilities:
Accounts receivable	(26,841)	(15,252)
Inventories	(13,920)	(7,329)
Prepaid expenses and other current assets	(6,028)	734
Accounts payable	4,488	8,064
Accrued liabilities	10,494	5,117
Deferred income taxes	(66)	(705)
Long-term retirement benefits	(2,213)	(1,812)
Other	(269)	906
Net cash provided by operating activities	30,483	51,836
Investing activities:
Proceeds from disposition of property, plant and equipment	552	170
Capital expenditures	(11,210)	(11,727)
Other	1,000	0
Net cash used by investing activities	(11,658)	(11,557)
Financing activities:
Net change in other borrowings	9,169	(24,947)
Payments on long-term debt	(111,845)	(24,768)
Proceeds from the issuance of long-term debt	87,500	47,550
Proceeds from the issuance of common stock	317	379
Common stock repurchases	(33,541)	(5,383)
Dividends paid	(7,453)	(6,997)
Withholding taxes paid on stock issuances	(68)	(106)
Other	(6,546)	(5,828)
Net cash used by financing activities	(62,467)	(20,100)
Effect of exchange rate changes on cash flows	3,053	1,657
(Decrease) increase in cash and cash equivalents	(40,589)	21,836
Cash and cash equivalents at beginning of period	145,290	66,447
Cash and cash equivalents at end of period	$ 104,701	$ 88,283

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated balance sheet and the related unaudited consolidated statements of income, comprehensive income and cash flows have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The consolidated financial statements do not include all information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The balance sheet as of December 31, 2017 has been derived from the 2017 financial statements of Barnes Group Inc. (the “Company”). For additional information, please refer to the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 . In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair statement of the results, have been included. Operating results for the three -month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . Certain reclassifications have been made to prior year amounts to conform to current year presentation. See Note 2 which discusses the Company's application of the amended guidance related to the classification of pension and other postretirement benefit costs.

Recent Accounting Standards

Recent Accounting Standards	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards	Recent Accounting Standards The Financial Accounting Standards Board ("FASB") establishes changes to accounting principles under U.S. GAAP through the use of Accounting Standards Updates ("ASUs") to the FASB's Accounting Standards Codification. The Company evaluates the applicability and potential impacts of recent ASUs on its Consolidated Financial Statements and related disclosures. Recently Adopted Accounting Standards In May 2014, the FASB amended its guidance related to revenue recognition. The amended guidance establishes a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance, including industry-specific guidance. The amended guidance clarifies that an entity recognizes 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 applying the amended guidance, an entity (1) identifies the contract(s) with a customer; (2) identifies the performance obligations in the contract; (3) determines the transaction price; (4) allocates the transaction price to the contract’s performance obligations; and (5) recognizes revenue when (or as) the entity satisfies a performance obligation. The amended guidance applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. Entities have the option of using either a full retrospective or modified retrospective approach to the amended guidance. The Company adopted the amended guidance, Accounting Standard Codification 606, Revenue from Contracts with Customers (“ASC 606”), and all related amendments, using the modified retrospective approach on January 1, 2018, at which time it became effective for the Company. The Company recognized the cumulative effect of initially applying the new revenue standard to all contracts that were not completed on the date of adoption as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect during those periods. A majority of revenue continues to be recognized when products are shipped. Under the amended guidance, however, a certain portion of our businesses with customized products or contracts in which we perform work on customer-owned assets require the use of an "over time" recognition model as certain of these contracts meet one or more of the criteria established in the amended guidance. Revenue recognition on contracts requiring over time accounting recognition created unbilled receivables (contract assets) and reduced inventory on the Company’s Consolidated Balance Sheet. Adoption of the amended guidance also resulted in the recognition of customer advances for which the Company has received an unconditional right to payment. Since the related performance obligations have not been satisfied, however, the Company will recognize these customer advances as trade receivables, with a corresponding contract liability of equal amount. Under the previous guidance, the Company recognized customer advances when payment was received. The cumulative effect of the changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows: Balance at December 31, 2017 Adjustments Due to ASC 606 Balance at January 1, 2018 Assets Accounts receivable, less allowances $ 348,943 $ 13,536 $ 362,479 Inventories 241,962 (8,908 ) 233,054 Prepaid expenses and other current assets 32,526 14,579 47,105 Deferred income taxes 12,161 (990 ) 11,171 Liabilities Accrued liabilities 181,241 13,536 194,777 Deferred income taxes 73,505 386 73,891 Stockholders' equity Retained earnings 1,206,723 4,295 1,211,018 The impact of adoption on the Consolidated Statements of Income and Balance Sheets was as follows: March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Consolidated Statement of Income Net sales $ 366,660 $ 366,632 $ 28 Cost of sales 237,134 237,817 (683 ) Operating income 56,633 55,922 711 Income before income taxes 50,978 50,267 711 Income taxes 12,160 11,982 178 Net income 38,818 38,285 533 March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Consolidated Balance Sheet Assets Accounts receivable, less allowances $ 394,910 $ 370,327 $ 24,583 Inventories 250,217 258,440 (8,223 ) Prepaid expenses and other current assets 54,544 39,745 14,799 Deferred income taxes 9,848 11,050 (1,202 ) Liabilities Accrued liabilities 204,820 180,084 24,736 Deferred income taxes 75,192 74,855 337 Stockholders' equity Retained earnings 1,261,540 1,256,712 4,828 Accumulated other changes to equity (95,217 ) (95,273 ) 56 In July 2015, the FASB amended its guidance related to the measurement of inventory. The amended guidance requires inventory to be measured at the lower of cost and net realizable value and thereby simplifies the prior guidance of measuring inventory at the lower of cost or market. The amended guidance was effective prospectively for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The Company adopted the guidance during the first quarter of 2017 and it did not have a material impact on its Consolidated Financial Statements. In August 2016, the FASB amended its guidance related to the Statement of Cash Flows. The amended guidance clarifies how certain cash receipts and cash payments should be presented on the statement of cash flows. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted the guidance during the first quarter of 2018 and the adoption did not have an impact on its Statement of Cash Flows. In March 2017, the FASB amended its guidance related to the presentation of pension and other postretirement benefit costs. The amended guidance requires the bifurcation of net periodic benefit cost for pension and other postretirement plans. The service cost component of expense will be presented with other employee compensation costs in operating income, consistent with the current guidance.The other components of expense, however, will be reported separately outside of operating income. The amended guidance also allows only the service cost component of net benefit cost to be eligible for capitalization. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within that reporting period. The Company adopted the amended guidance during the first quarter of 2018. The amended guidance was applied retrospectively for the presentation of the service cost component and the other components of net periodic benefit cost in the Statements of Income. Additionally, the amended guidance was applied prospectively for the capitalization of the service cost component of net periodic benefit cost. The amended guidance allows for a practical expedient that permits the use of amounts previously disclosed in the pension and other postretirement benefit plan Note within the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company elected this practical expedient for prior period presentation. During the three month period ended March 31, 2017, the adoption of this amended guidance resulted in the reclassification of $530 of net periodic benefit cost from compensation costs (included in Cost of Sales and Selling and Administrative expenses) to other expense (income), net on the Statements of Income. See Note 10 of the Consolidated Financial Statements. In February 2018, the FASB issued guidance related to the impacts of the tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Act”). The guidance permits the reclassification of certain income tax effects of the Act from Accumulated Other Comprehensive Income to Retained Earnings (stranded tax effects). The stranded tax effects resulted from the December 31, 2017 remeasurement of deferred income taxes that was recorded through the Consolidated Statements of Income, with no corresponding adjustment to Accumulated Other Comprehensive Income having been initially recognized. The guidance is effective for annual periods beginning after December 15, 2018, and interim periods within that reporting period. Early adoption is permitted. The Company elected to early adopt this amended guidance during the first quarter of 2018 using specific identification and as a result reclassified $19,331 from Accumulated Other Comprehensive Income to Retained Earnings on the Consolidated Balance Sheets. This reclassification relates only to the change in the U.S. Corporate income tax rate. Recently Issued Accounting Standards In February 2016, the FASB amended its guidance related to lease accounting. The amended guidance requires lessees to recognize a majority of their leases on the balance sheet as a right-to-use asset. Lessees are permitted to make an accounting policy election to not recognize an asset and liability for leases with a term of twelve months or less. Lease expense will be recorded in a manner similar to current accounting. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The original guidance requires application on a modified retrospective basis based on the earliest period presented within the Consolidated Financial Statements. During March 2018, the FASB approved amendments that made available a transition method that will provide an option to use the effective date of the amended guidance as the date of initial application. The Company plans to elect this option. Based on the effective date, this amended guidance will apply to the Company, and it plans to adopt this guidance, beginning on January 1, 2019. The Company is currently evaluating the impact that the amended guidance will have on its Consolidated Financial Statements. The Company is assessing its leases and anticipates making certain changes to existing processes, policies and systems during implementation. The Company anticipates the amended guidance will have a material impact on its assets and liabilities due to the addition of right-of-use assets and lease liabilities to the balance sheet; however, it does not expect the amended guidance to have a material impact on its cash flows or results of operations. In January 2017, the FASB amended its guidance related to goodwill impairment testing. The amended guidance simplifies the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under the amended guidance, companies should perform their annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Companies would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The amended guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this amended guidance is not expected to have a material impact on the Company's Consolidated Financial Statements. In August 2017, the FASB amended its guidance related to hedge accounting. The amended guidance makes more financial and nonfinancial hedging strategies eligible for hedge accounting, amends presentation and disclosure requirements and changes the assessment of effectiveness. The guidance also more closely aligns hedge accounting with management strategies, simplifies application and increases the transparency of hedging. The amended guidance is effective January 1, 2019, with early adoption permitted in any interim period. The Company is currently evaluating the impact that the guidance may have on its Consolidated Financial Statements, however the impact is not expected to be material.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company is a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, serving a wide range of end markets and customers. Its specialized products and services are used in far-reaching applications including aerospace, transportation, manufacturing, healthcare, and packaging. The Company accounts for revenue in accordance with ASC 606, which it adopted on January 1, 2018, using the modified retrospective approach. Note 2 of the Consolidated Financial Statements further discusses this adoption. Revenue is recognized by the Company when control of product or solution is transferred to the customer. Control is generally transferred when products are shipped or delivered to customers, title is transferred and the significant risks and rewards of ownership have transferred, the Company has rights to payment and rewards of ownership pass to the customer. Customer acceptance may also be a factor in determining whether control of the product has transferred. Although revenue is generally transferred at a point in time, a certain portion of businesses with customized products or contracts in which the Company performs work on customer-owned assets requires the use of an over time recognition model as certain contracts meet one or more of the established criteria pursuant to ASC 606. Also, service revenue is recognized as control transfers, which is concurrent with the services being performed. The following table presents the Company's revenue disaggregated by products and services, and geographic regions, by segment. For the period ended March 31, 2018 Industrial Aerospace Total Company Product and Services Engineered Components Products $ 92,013 $ — $ 92,013 Molding Solutions Products 119,099 — 119,099 Nitrogen Gas Products 34,849 — 34,849 Aerospace Original Equipment Manufacturer Products — 80,695 80,695 Aerospace Aftermarket Product and Services — 40,004 40,004 $ 245,961 $ 120,699 $ 366,660 Geographic Regions (A) Americas $ 96,527 $ 85,961 $ 182,488 Europe 94,140 24,675 118,815 Asia 54,380 8,913 63,293 Other 914 1,150 2,064 $ 245,961 $ 120,699 $ 366,660 (A) Sales by geographic market are based on the location to which the product is shipped. Revenue from goods and services transferred to customers at a point in time accounted for approximately 90 percent of revenue for the three-month period ended March 31, 2018. A majority of revenue within the Industrial segment and Aerospace OEM business is recognized at a point in time when the product or solution is shipped to the customer. A portion of revenue within the Aerospace Aftermarket business is also recognized when product is shipped. Revenue from products and services transferred to customers over time accounted for approximately 10 percent of revenue for the three-month period ended March 31, 2018. The Company recognizes revenue over time in instances where a contract supports a continual transfer of control to the customer. Substantially all of our revenue in the Aerospace maintenance repair and overhaul business and a portion of the Engineered Components Products, Molding Solutions Products and Aerospace OEM Products is recognized over time. Within the Molding Solution businesses and Aerospace Aftermarket business, this continual transfer of control to the customer results from repair and refurbishment work performed on customer controlled assets. With other contracts, this continual transfer of control to the customer is supported by clauses in the contract where we deliver products that do not have an alternative use and requires an enforceable right to payment of costs incurred (plus a reasonable profit) or the Company has a contractual right to complete any work in process and receive full contract price. Performance Obligations. A performance obligation represents a promise within a contract to provide a distinct good or service to the customer and is the unit of accounting pursuant to ASC 606. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. Transaction price reflects the amount of consideration which the Company expects to be entitled in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. For many of our contracts, the Company may provide distinct goods or services in which case we separate the contract into more than one performance obligation (i.e. a good or service is individually listed in a contract or sold individually to a customer). In certain contracts, a product or service may be part of a fully integrated solution, in which case it is bundled into a single performance obligation. If a contract is separated into more than one performance obligation, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company generally sells both standard and customized products with observable standalone selling prices. The majority of our revenues are from contracts, as defined by ASC 606, that are less than one year, however certain Aerospace OEM business contracts extend beyond one year. In the Industrial segment, customers are typically with OEMs or suppliers to OEMs and in some businesses, with distributors. In the Aerospace segment, customers include commercial airlines, OEMs and other aircraft and military parts providers. To determine the proper revenue recognition method for contracts, the Company uses judgment to evaluate whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. Contracts within the Aerospace OEM and Engineered Components businesses typically have contracts that are combined as the customer may issue multiple purchase orders at or near the same point in time under the terms of a long term agreement. The decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations involves judgment but does not typically impact the amount of revenue and profit recorded in a given period since our contract prices generally represent standalone selling prices. For many of our contracts, particularly within our Molding Solutions and Nitrogen Gas Products businesses, the Company may incorporate a set of tasks and components into a fully integrated system or solution. Contracts may be modified to account for changes in contract specifications and requirements. The Company considers contract modifications to exist when the modification either creates new rights or changes the existing enforceable rights and obligations. Contract modifications within certain businesses typically relate to goods or services that are distinct from the existing contract and are accounted for as a new contract. Pricing changes, if included within a contract modification, are generally prospective. Contract modifications within Molding Solutions and a portion of the Nitrogen Gas Products business may impact the existing contract. Contract revenue at these businesses is generally recorded on a point in time basis, however, and therefore no cumulative sales adjustment is typically required. Revenue is recognized in an over time model based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company utilizes the cost-to-cost measure of progress for over time contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs. Contract Estimates. Due to the nature of the work performed in completing certain performance obligations, the estimation of both total revenue and cost at completion (the process described above) includes a number of variables and requires significant judgment. Estimating total contract revenue may require judgment as certain contracts contain pricing discount structures, rebates, early payment discounts, or other provisions that can impact transaction price. The Company generally estimates variable consideration utilizing the expected value methodology as multiple inputs are considered and weighed, such as customer history, customer forecast communications, economic outlooks, and industry data. In certain circumstances where a particular outcome is probable, we utilize the most likely amount to which we expect to be entitled. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company has opted not to adjust the promised amount of consideration for the effects of a financing component as the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service is generally one year or less. Certain customers are eligible to earn rebates from product purchases. For certain of these rebates, the customer can earn prospectively higher rebates upon reaching predetermined sales volumes and in other cases, the customer can receive product by achieving predetermined sales volumes. These rebates are considered to be material rights as the customer, as part of their current contract, are purchasing an option that they would not have received without the contract to either purchase future product at a lower price or receive free product. When a contract contains a material right, a portion of the transaction price is allocated to the material right for which revenue recognition is deferred until the customer exercises its option. The standalone selling price for a material right used to allocate the transaction price is determined at contract inception by calculating the portion of the option purchased relative to the estimated total amount of incremental value the customer will likely earn, based on historical data, customer forecast communications, current economic information, and industry trends. The standalone selling price of a material right is not adjusted prior to customer exercise or option expiration. Estimating the total expected costs related to contracts also requires significant judgment. The Aerospace OEM business has an Estimate at Completion (EAC) process in which management reviews the progress and execution of our performance obligations for significant contracts with revenue recognized under an over time model. As part of this process, management reviews information including, but not limited to, performance under the contract, progress towards completion, identified risks and opportunities, sourcing determinations and related changes in estimates of costs to be incurred. These considerations include management's judgment about the ability and cost to achieve technical requirements and other contract requirements. Management makes assumptions and estimates regarding labor efficiency, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), execution by our subcontractors and overhead cost rates, among other variables. The Company generally utilizes the portfolio approach, a practical expedient, to estimate the amount of revenue to recognize for certain other contracts which require over time revenue recognition. Such contracts are grouped together either by revenue stream, customer or product. Each portfolio of contracts is grouped together based on having similar characteristics. The portfolio approach is utilized only when the result of the accounting is not expected to be materially different than if applied to individual contracts. For each portfolio of contracts, the respective work in process and/or finished goods inventory balances are identified and the portfolio-specific margin is applied to estimate the pro-rata portion of revenue earned in relation to the costs incurred. Adjustments to net sales, cost of sales and the related impact to operating income are recognized as necessary in the period they become known. The resultant impacts from these changes in estimates are recognized on a cumulative catch-up basis, which recognizes in the current period the cumulative effect of the changes on both current and prior periods. Revenue recognized from performance obligations satisfied in previous periods was estimated at $258 in the first three months of 2018, representing changes in total costs expected and changes in estimated variable consideration. Contract Balances . The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. Unbilled Receivables (Contract Assets) - Pursuant to the over time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when 1) the cost-to-cost method is applied and 2) such revenue exceeds the amount invoiced to the customer. Unbilled receivables are included within prepaid expenses and other current assets on the Consolidated Balance Sheet as of March 31, 2018. Customer Advances and Deposits (Contract Liabilities) - The Company may receive a customer advance or deposit, or have an unconditional right to receive a customer advance, prior to revenue being recognized. Certain contracts within the Molding Solutions businesses, for example, may require such advances. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. An offsetting asset of equal amount is recorded as an account receivable until the advance is collected. Advances and deposits are included within accrued liabilities on the Consolidated Balance Sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as they are received less than one year before the customer solution is completed. These assets and liabilities are reported on the Consolidated Balance Sheet on an individual contract basis at the end of each reporting period. Net contract assets (liabilities) consisted of the following: March 31, 2018 January 1, 2018 $ Change % Change Unbilled receivables (contract assets) $ 14,799 $ 14,579 $ 220 2 % Contract liabilities (71,423 ) (54,007 ) (17,416 ) 32 % Net contract liabilities $ (56,624 ) $ (39,428 ) $ (17,196 ) 44 % Contract liabilities balances at March 31, 2018 and January 1, 2018 include $24,646 and $13,536 , respectively, of customer advances for which the Company has an unconditional right to collect payment. Accounts receivable, as presented on the Consolidated Balance Sheet and within Note 2, includes corresponding balances at March 31, 2018 and January 1, 2018, respectively. Changes in the net contract asset (liability) balance during the three-month period ended March 31, 2018 were impacted by a $17,416 increase in contract liabilities, driven primarily by new customer advances and deposits, partially offset by revenue recognized in the current period. Partially offsetting this contract liability increase was a $220 increase in contract assets, driven primarily by contract progress (i.e.unbilled receivable), partially offset by earlier contract progress being invoiced to the customer. Revenue recognized for the three-month period ended March 31, 2018 that was included in the contract liability balance at the beginning of the year was $17,525 and represented primarily revenue from the sale of molds and hot runners within the Molding Solutions business. Contract Costs. The Company may incur costs to fulfill a contract. Costs are incurred to develop, design and manufacture tooling to produce a customer’s customized product in conjunction with certain of its contracts, primarily in the Aerospace OEM business. For certain contracts, control related to this tooling remains with the Company. The tooling may be deemed recoverable over the life of the related customer contract (oftentimes a long-term agreement). The Company therefore capitalizes these tooling costs and amortizes them over the shorter of the tooling life or the duration of the long-term agreement. The Company may also incur costs related to the development of product designs (molds or hot runner systems) within its Molding Solutions businesses. Control of the design may be retained by the Company and deemed recoverable over the contract to build the systems or mold, therefore this design work cost is capitalized and amortized to cost of sales when the related revenue is recognized. Amortization related to these capitalized costs to fulfill a contract were $3,986 in the three month period ended March 31, 2018. Capitalized costs, net of amortization, to fulfill a contract balances were as follows: March 31, 2018 Tooling $ 3,937 Design costs 3,340 Other 93 $ 7,370 In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the respective estimated shipping and handling costs are accrued. Remaining Performance Obligations . The Company has elected the practical expedient which allows disclosure of remaining performance obligations only for contracts with an original duration of greater than one year. Such remaining performance obligations represent the transaction price of firm orders for which work has not been performed and excludes projections of components and assemblies that Aerospace OEM customers anticipate purchasing in the future under existing programs, which represent orders that are beyond lead time and do not represent performance obligations pursuant to ASC 606. As of March 31, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $139,762 . The Company expects to recognize revenue on approximately 75% of the remaining performance obligations over the next 12 months, with the remainder being recognized within 24 months.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share For the purpose of computing diluted net income per common share, the weighted-average number of common shares outstanding is increased for the potential dilutive effects of stock-based incentive plans. For the purpose of computing diluted net income per common share, the weighted-average number of common shares outstanding was increased by 553,903 and 472,705 for the three-month periods ended March 31, 2018 and 2017 , respectively, to account for the potential dilutive effect of stock-based incentive plans. There were no adjustments to net income for the purposes of computing income available to common stockholders for the periods. The calculation of weighted-average diluted shares outstanding excludes all shares that would have been anti-dilutive. During the three-month periods ended March 31, 2018 and 2017 , the Company excluded 153,908 and 177,781 stock awards, respectively, from the calculation of weighted-average diluted shares outstanding as the stock awards were considered anti-dilutive. The Company granted 102,400 stock options, 88,543 restricted stock unit awards and 70,005 performance share awards ("PSAs") in February 2018 as part of its annual grant awards. All of the stock options and the restricted stock unit awards vest upon meeting certain service conditions. The restricted stock unit awards are included in basic weighted-average common shares outstanding as they contain nonforfeitable rights to dividend payments. The PSAs are part of the long-term Performance Share Award Program (the "Awards Program") and are based on performance goals that are driven by a combination of independently measured metrics (depending on the grant year) with each metric being weighted equally. The metrics for awards granted in 2018 include the Company’s total shareholder return (“TSR”), return on invested capital (“ROIC”) and operating income before depreciation and amortization growth ("EBITDA growth"). The TSR and EBITDA growth metrics are designed to assess the long-term Company performance relative to the performance of companies included in the Russell 2000 Index over a three -year performance period. ROIC is designed to assess the Company's performance compared to pre-established Company targets over a three -year performance period. The participants can earn from zero to 250% of the target award and the award includes a forfeitable right to dividend equivalents, which are not included in the aggregate target award numbers. The fair value of the TSR portion of the PSA was determined using a Monte Carlo valuation method as the award contains a market condition.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories consisted of: March 31, 2018 December 31, 2017 Finished goods $ 75,503 $ 79,649 Work-in-process 107,500 97,276 Raw material and supplies 67,214 65,037 $ 250,217 $ 241,962

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill: The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company as of and for the period ended March 31, 2018 : Industrial Aerospace Total Company January 1, 2018 $ 659,437 $ 30,786 $ 690,223 Foreign currency translation 15,071 — 15,071 March 31, 2018 $ 674,508 $ 30,786 $ 705,294 Other Intangible Assets: Other intangible assets consisted of: March 31, 2018 December 31, 2017 Range of Life -Years Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Revenue sharing programs (RSPs) Up to 30 $ 293,700 $ (111,717 ) $ 293,700 $ (108,075 ) Component repair programs (CRPs) Up to 30 111,839 (17,783 ) 111,839 (16,508 ) Customer lists/relationships 10-16 215,966 (68,625 ) 215,966 (65,385 ) Patents and technology 4-10 87,052 (50,838 ) 87,052 (48,083 ) Trademarks/trade names 10-30 11,950 (10,446 ) 11,950 (10,349 ) Other Up to 15 20,551 (16,519 ) 20,551 (16,414 ) 741,058 (275,928 ) 741,058 (264,814 ) Unamortized intangible assets: Trade names 42,770 — 42,770 — Foreign currency translation (6,091 ) — (11,972 ) — Other intangible assets $ 777,737 $ (275,928 ) $ 771,856 $ (264,814 ) Estimated amortization of intangible assets for future periods is as follows: 2018 - $41,000 ; 2019 - $41,000 ; 2020 - $37,000 ; 2021 - $37,000 and 2022 - $37,000 .

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company's debt agreements contain financial covenants that require the maintenance of interest coverage and leverage ratios. The Company is in compliance with its financial covenants as of March 31, 2018 , and continues to monitor its future compliance based on current and anticipated future economic conditions. Long-term debt and notes and overdrafts payable at March 31, 2018 and December 31, 2017 consisted of: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Revolving credit agreement $ 397,550 $ 401,436 $ 421,500 $ 424,818 3.97% Senior Notes 100,000 100,304 100,000 101,348 Borrowings under lines of credit and overdrafts 14,896 14,896 5,669 5,669 Capital leases 7,896 8,555 4,541 4,964 Other foreign bank borrowings 742 755 886 897 521,084 525,946 532,596 537,696 Less current maturities (17,904 ) (6,999 ) Long-term debt $ 503,180 $ 525,597 In February 2017, the Company and certain of its subsidiaries entered into the fourth amendment of its fifth amended and restated revolving credit agreement (the “Amended Credit Agreement”) and retained Bank of America, N.A as the Administrative Agent for the lenders. The Amended Credit Agreement increased the facility from $750,000 to $850,000 and extended the maturity date from September 2018 to February 2022. The Amended Credit Agreement also increased the existing accordion feature from $250,000 , allowing the Company to now request additional borrowings of up to $350,000 . The Company may exercise the accordion feature upon request to the Administrative Agent as long as an event of default has not occurred or is not continuing. The borrowing availability of $850,000 , pursuant to the terms of the Amended Credit Agreement, allows for multi-currency borrowing which includes euro, sterling or Swiss franc borrowing, up to $600,000 . Depending on the Company’s consolidated leverage ratio, and at the election of the Company, borrowings under the Amended Credit Agreement will bear interest at either LIBOR plus a margin of between 1.10% and 1.70% or the base rate, as defined in the Amended Credit Agreement, plus a margin of 0.10% to 0.70% . The Company paid fees and expenses of $2,542 in conjunction with executing the Amended Credit Agreement; such fees have been deferred within Other Assets on the accompanying Consolidated Balance Sheets and are being amortized into interest expense on the accompanying Consolidated Statements of Income through its maturity. Cash used to pay these fees have been recorded through financing activities on the Consolidated Statements of Cash Flows for the three-month period ended March 31, 2017. Borrowings and availability under the Amended Credit Agreement were $397,550 and $452,450 , respectively, at March 31, 2018 and $421,500 and $428,500 , respectively, at December 31, 2017 . The average interest rate on these borrowings was 2.96% and 2.65% on March 31, 2018 and December 31, 2017 , respectively. The fair value of the borrowings is based on observable Level 2 inputs. The borrowings were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings. In October 2014, the Company entered into a Note Purchase Agreement (“Note Purchase Agreement”), among the Company and New York Life Insurance Company, New York Life Insurance and Annuity Corporation and New York Life Insurance and Annuity Corporation Institutionally Owned Life Insurance Separate Account, as purchasers, for the issuance of $100,000 aggregate principal amount of 3.97% Senior Notes due October 17, 2024 (the “ 3.97% Senior Notes”). The 3.97% Senior Notes are senior unsecured obligations of the Company and pay interest semi-annually on April 17 and October 17 of each year at an annual rate of 3.97% . The 3.97% Senior Notes will mature on October 17, 2024 unless earlier prepaid in accordance with their terms. Subject to certain conditions, the Company may, at its option, prepay all or any part of the 3.97% Senior Notes in an amount equal to 100% of the principal amount of the 3.97% Senior Notes so prepaid, plus any accrued and unpaid interest to the date of prepayment, plus the Make-Whole Amount, as defined in the Note Purchase Agreement, with respect to such principal amount being prepaid. The fair value of the 3.97% Senior Notes was determined using the US Treasury yield and a long-term credit spread for similar types of borrowings, which represent Level 2 observable inputs. The Company's borrowing capacity remains limited by various debt covenants in the Amended Credit Agreement and the Note Purchase Agreement (the "Agreements"). The Agreements require the Company to maintain a ratio of Consolidated Senior Debt, as defined, to Consolidated EBITDA, as defined, of not more than 3.25 times ("Senior Debt Ratio"), a ratio of Consolidated Total Debt, as defined, to Consolidated EBITDA of not more than 3.75 times and a ratio of Consolidated EBITDA to Consolidated Cash Interest Expense, as defined, of not less than 4.25 at the end of each fiscal quarter; provided that the debt to EBITDA ratios are permitted to increase for a period of four fiscal quarters after the closing of certain permitted acquisitions. In addition, the Company has available approximately $59,000 in uncommitted short-term bank credit lines ("Credit Lines") and overdraft facilities. Under the Credit Lines, $14,600 was borrowed at March 31, 2018 at an interest rate of 2.60% and $5,300 was borrowed at December 31, 2017 at an average interest rate of 2.33% . The Company had also borrowed $296 and $369 under the overdraft facilities at March 31, 2018 and December 31, 2017 , respectively. Repayments under the Credit Lines are due within one month after being borrowed. Repayments of the overdrafts are generally due within two days after being borrowed. The carrying amounts of the Credit Lines and overdrafts approximate fair value due to the short maturities of these financial instruments. The Company has several capital leases under which $ 7,896 and $ 4,541 was outstanding at March 31, 2018 and December 31, 2017 , respectively. The fair value of the capital leases are based on observable Level 2 inputs. These instruments were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings. At March 31, 2018 and December 31, 2017 , the Company also had other foreign bank borrowings of $742 and $886 , respectively. The fair value of the other foreign bank borrowings is based on observable Level 2 inputs. These instruments were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company has manufacturing and sales facilities around the world and thus makes investments and conducts business transactions denominated in various currencies. The Company is also exposed to fluctuations in interest rates and commodity price changes. These financial exposures are monitored and managed by the Company as an integral part of its risk management program. Financial instruments have been used by the Company to hedge its exposure to fluctuations in interest rates. In 2012, the Company entered into five -year interest rate swap agreements (the "Swaps") transacted with three banks which together converted the interest on the first $100,000 of the Company's one-month LIBOR-based borrowings from a variable rate plus the borrowing spread to a fixed rate of 1.03% plus the borrowing spread. The Swaps expired on April 28, 2017. The Company entered into a new interest rate swap agreement (the "Swap") that commenced on April 28, 2017, with one bank, and converts the interest on the first $100,000 of the Company's one-month LIBOR-based borrowings from a variable rate plus the borrowing spread to a fixed rate of 1.92% plus the borrowing spread. The Swap expires on January 31, 2022. These interest rate swap agreements were accounted for as cash flow hedges. The Swap remained in place at March 31, 2018 . The Company also uses financial instruments to hedge its exposures to fluctuations in foreign currency exchange rates. The Company has various contracts outstanding which primarily hedge recognized assets or liabilities and anticipated transactions in various currencies including the Euro, British pound sterling, U.S. dollar, Canadian dollar, Japanese yen, Singapore dollar, Korean won, Swedish kroner, Chinese renminbi and Swiss franc. Certain foreign currency derivative instruments are treated as cash flow hedges of forecasted transactions. All foreign exchange contracts are due within two years . The Company does not use derivatives for speculative or trading purposes or to manage commodity exposures. Changes in the fair market value of derivatives that qualify as fair value hedges or cash flow hedges are recorded directly to earnings or accumulated other non-owner changes to equity, depending on the designation. Amounts recorded to accumulated other non-owner changes to equity are reclassified to earnings in a manner that matches the earnings impact of the hedged transaction. Any ineffective portion, or amounts related to contracts that are not designated as hedges, are recorded directly to earnings. The Company's policy for classifying cash flows from derivatives is to report the cash flows consistent with the underlying hedged item. Other financing cash flows during the first three months of 2018 and 2017 , as presented on the Consolidated Statements of Cash Flows, include $6,505 and $3,243 , respectively, of net cash payments related to the settlement of foreign currency hedges related to intercompany financing. The following table sets forth the fair value amounts of derivative instruments held by the Company. March 31, 2018 December 31, 2017 Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contracts $ 2,274 $ — $ 654 $ — Foreign exchange contracts — (1,454 ) — (379 ) Derivatives not designated as hedging instruments: Foreign exchange contracts 640 (1,096 ) 58 (29 ) Total derivatives $ 2,914 $ (2,550 ) $ 712 $ (408 ) Asset derivatives related to interest rate contracts and foreign exchange contracts are recorded in other assets and prepaid expenses and other current assets, respectively, in the accompanying Consolidated Balance Sheets. Liability derivatives related to interest rate contracts and foreign exchange contracts are recorded in other liabilities and accrued liabilities, respectively, in the accompanying Consolidated Balance Sheets. The following table sets forth the gain (loss) recorded in accumulated other comprehensive income (loss), net of tax, for the three -month periods ended March 31, 2018 and 2017 for derivatives held by the Company and designated as hedging instruments. Three months ended March 31, 2018 2017 Cash flow hedges: Interest rate contracts $ 1,235 $ 47 Foreign exchange contracts (839 ) 36 $ 396 $ 83 Amounts related to the interest rate swaps included within accumulated other comprehensive income (loss) that were reclassified to expense during the first three months of 2018 and 2017 resulted in a fixed rate of interest plus the borrowing spread for the first $100,000 of one-month LIBOR borrowings. The fixed rate of interest was 1.92% for the period covered by the Swap, which matures in January 2022, and 1.03% for the Swaps, which matured in April 2017. The following table sets forth the net (loss) gains recorded in other expense (income), net in the Consolidated Statements of Income for the three-month periods ended March 31, 2018 and 2017 for non-designated derivatives held by the Company. Such amounts were substantially offset by the net (gain) loss recorded on the underlying hedged asset or liability, also recorded in other expense (income), net. Three months ended March 31, 2018 2017 Foreign exchange contracts $ (6,092 ) $ (896 )

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The provisions of the accounting standard for fair value define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This standard classifies the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. The following table provides the assets and liabilities reported at fair value and measured on a recurring basis: Fair Value Measurements Using Description Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2018 Asset derivatives $ 2,914 $ — $ 2,914 $ — Liability derivatives (2,550 ) — (2,550 ) — Bank acceptances 17,350 — 17,350 — Rabbi trust assets 2,553 2,553 — — $ 20,267 $ 2,553 $ 17,714 $ — December 31, 2017 Asset derivatives $ 712 $ — $ 712 $ — Liability derivatives (408 ) — (408 ) — Bank acceptances 16,092 — 16,092 — Rabbi trust assets 2,554 2,554 — — $ 18,950 $ 2,554 $ 16,396 $ — The derivative contracts are valued using observable current market information as of the reporting date such as the prevailing LIBOR-based interest rates and foreign currency spot and forward rates. Bank acceptances represent financial instruments accepted from certain Chinese customers in lieu of cash paid on receivables, generally range from three to six months in maturity and are guaranteed by banks. The carrying amounts of the bank acceptances, which are included within prepaid expenses and other current assets, approximate fair value due to their short maturities. The fair values of rabbi trust assets are based on quoted market prices from various financial exchanges.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits Pension and other postretirement benefits expenses consisted of the following: Three months ended March 31, Pensions 2018 2017 Service cost $ 1,590 $ 1,643 Interest cost 4,309 4,621 Expected return on plan assets (7,394 ) (6,860 ) Amortization of prior service cost 141 109 Amortization of actuarial losses 2,811 2,480 Settlement gain — (261 ) Net periodic benefit cost $ 1,457 $ 1,732 Three months ended March 31, Other Postretirement Benefits 2018 2017 Service cost $ 24 $ 22 Interest cost 344 389 Amortization of prior service cost (credit) 5 (17 ) Amortization of actuarial losses 160 69 Net periodic benefit cost $ 533 $ 463 The components of net periodic benefit cost other than the service cost component are included in Other Income (Expense) on the Consolidated Statements of Income. The amended guidance related to the presentation of net periodic pension and other postretirement benefit cost (See Note 2) provides for a practical expedient that allows use of amounts disclosed in prior year filings for the prior year comparable periods as an estimation basis for applying the retrospective presentation requirements. The Company has elected to use this practical expedient. The Company currently expects to contribute approximately $4,600 to certain of its defined benefit pension plans in 2018. No contributions to the U.S. Qualified pension plans, specifically, are required, and the Company does not currently plan to make any discretionary contributions to such plans in 2018.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the first quarter of 2018 was 23.9% compared with 26.9% in the first quarter of 2017 and 69.6% for the full year 2017 . The effective tax rate in 2017 was impacted by the U.S. government's enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Act"). Excluding the impact of a one-time $99,214 of discrete tax expense related to the Act, partially offset by a benefit of $2,514 on the prior year repatriation, the effective tax rate would have been 20.2% for the full year 2017 . The increase in the first quarter of 2018 effective tax rate from the full year 2017 rate is primarily due to a new provision within the Act that is designed to tax global intangible low-taxed income (GILTI), the absence of the adjustment of the Swiss valuation reserves, the absence of the settlement of tax audits and closure of tax years for various tax jurisdictions, the expiration of certain tax holidays and the decrease in the excess tax benefit on stock awards. The increase is partially offset by the increase in the projected change in the mix of earnings attributable to lower-taxing jurisdictions. The Company has determined that foreign earnings for the period beginning January 1, 2018 will be indefinitely reinvested. Accordingly, a deferred tax liability has not been recorded for the excess of the tax basis over the financial statement (book) basis arising since January 1, 2018. For the period ended December 31, 2017, the Company recorded a deferred tax liability of $6,932 on the portion of earnings it expects to repatriate. The Company continues to analyze its position in regards to the excess of the tax basis over the financial statement (book) basis arising for the period prior to January 1, 2018 and as such, the entry made effective December 31, 2017 remains provisional. The Aerospace and Industrial segments were previously awarded international tax holidays. All significant tax holidays for which the Company currently receives benefit have expired.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) by Component	Changes in Accumulated Other Comprehensive Income (Loss) by Component The following tables sets forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the three -month periods ended March 31, 2018 and 2017 : Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2018 $ 72 $ (103,844 ) $ (2,627 ) $ (106,399 ) Other comprehensive income before reclassifications 157 763 26,953 27,873 Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 239 2,401 — 2,640 Net current-period other comprehensive income 396 3,164 26,953 30,513 Amounts reclassified from accumulated other comprehensive income to retained earnings (A) — (19,331 ) — (19,331 ) March 31, 2018 $ 468 $ (120,011 ) $ 24,326 $ (95,217 ) (A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 2. Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2017 $ (227 ) $ (114,570 ) $ (86,031 ) $ (200,828 ) Other comprehensive income (loss) before reclassifications 27 (214 ) 18,609 18,422 Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 56 1,479 — 1,535 Net current-period other comprehensive income 83 1,265 18,609 19,957 March 31, 2017 $ (144 ) $ (113,305 ) $ (67,422 ) $ (180,871 ) The following table sets forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three -month periods ended March 31, 2018 and 2017 : Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income Three months ended March 31, 2018 Three months ended March 31, 2017 Gains and losses on cash flow hedges Interest rate contracts $ (82 ) $ (53 ) Interest expense Foreign exchange contracts (226 ) (30 ) Net sales (308 ) (83 ) Total before tax 69 27 Tax benefit (239 ) (56 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs, net $ (146 ) $ (92 ) (A) Amortization of actuarial losses (2,971 ) (2,549 ) (A) Settlement gain — 261 (A) (3,117 ) (2,380 ) Total before tax 716 901 Tax benefit (2,401 ) (1,479 ) Net of tax Total reclassifications in the period $ (2,640 ) $ (1,535 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 10.

Information on Business Segment

Information on Business Segments	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Information on Business Segments	Information on Business Segments The Company is organized based upon the nature of its products and services and reports under two global business segments: Industrial and Aerospace. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The Company has not aggregated operating segments for purposes of identifying these two reportable segments. Industrial is a global manufacturer of highly-engineered, high-quality precision components, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. Focused on innovative custom solutions, Industrial participates in the design phase of components and assemblies whereby customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Products are sold primarily through its direct sales force and global distribution channels. Industrial's Molding Solutions businesses design and manufacture customized hot runner systems, advanced mold cavity sensors and process control systems, and precision high cavitation mold assemblies - collectively, the enabling technologies for many complex injection molding applications. Industrial's Nitrogen Gas Products business provides innovative cost effective force and motion solutions for sheet metal forming, heavy duty suspension and other selective niche markets for customers worldwide. Industrial's Engineered Components businesses manufacture and supply precision mechanical products used in transportation and industrial applications, including mechanical springs, high-precision punched and fine-blanked components and retention rings. Aerospace is a global provider of fabricated and precision-machined components and assemblies for original equipment manufacturer ("OEM") turbine engine, airframe and industrial gas turbine builders, and the military. Aerospace Aftermarket includes the jet engine component maintenance repair and overhaul business ("MRO") and the spare parts business. MRO includes our Component Repair Programs ("CRPs") and services many of the world's major turbine engine manufacturers, commercial airlines and the military. The spare parts business includes our revenue sharing programs ("RSPs") under which the Company receives an exclusive right to supply designated aftermarket parts over the life of the related aircraft engine program. The following tables set forth information about the Company's operations by its two reportable segments: Three months ended March 31, 2018 2017 Net sales Industrial $ 245,967 $ 227,340 Aerospace 120,699 114,470 Intersegment sales (6 ) (8 ) Total net sales $ 366,660 $ 341,802 Operating profit Industrial $ 32,378 $ 33,903 Aerospace 24,255 22,375 Total operating profit 56,633 56,278 Interest expense 3,892 3,349 Other expense (income), net 1,763 553 Income before income taxes $ 50,978 $ 52,376 March 31, 2018 December 31, 2017 Assets Industrial $ 1,574,386 $ 1,505,355 Aerospace 675,741 667,085 Other (A) 166,069 193,276 Total assets $ 2,416,196 $ 2,365,716 (A) "Other" assets include corporate-controlled assets, the majority of which are cash and cash equivalents.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties The Company provides product warranties in connection with the sale of certain products. From time to time, the Company is subject to customer claims with respect to product warranties. The Company accrues its estimated exposure for warranty claims at the time of sale based upon the length of the warranty period, historical experience and other related information known to the Company. Liabilities related to product warranties and extended warranties were not material as of March 31, 2018 and December 31, 2017 .

Business Reorganizations

Business Reorganizations	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Business Reorganizations	Business Reorganizations In 2017, the Company authorized the closure and consolidation of two production facilities (the "Closures") including a FOBOHA facility located in Muri, Switzerland and an Associated Spring facility into other facilities included within the Industrial segment to leverage capacity, infrastructure and critical resources. The Muri Closure was completed as of December 31, 2017, whereas the Closure at the Associated Spring facility is currently expected to be completed in the first half of 2018. The remaining severance liability is included within accrued liabilities and is expected to be paid in 2018. The following table sets forth the change in the liability for the 2017 employee termination actions: January 1, 2018 $ 649 Payments (195 ) Foreign currency translation 8 March 31, 2018 $ 462

Recent Accounting Standards (Ta

Recent Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The cumulative effect of the changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows: Balance at December 31, 2017 Adjustments Due to ASC 606 Balance at January 1, 2018 Assets Accounts receivable, less allowances $ 348,943 $ 13,536 $ 362,479 Inventories 241,962 (8,908 ) 233,054 Prepaid expenses and other current assets 32,526 14,579 47,105 Deferred income taxes 12,161 (990 ) 11,171 Liabilities Accrued liabilities 181,241 13,536 194,777 Deferred income taxes 73,505 386 73,891 Stockholders' equity Retained earnings 1,206,723 4,295 1,211,018 The impact of adoption on the Consolidated Statements of Income and Balance Sheets was as follows: March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Consolidated Statement of Income Net sales $ 366,660 $ 366,632 $ 28 Cost of sales 237,134 237,817 (683 ) Operating income 56,633 55,922 711 Income before income taxes 50,978 50,267 711 Income taxes 12,160 11,982 178 Net income 38,818 38,285 533 March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Consolidated Balance Sheet Assets Accounts receivable, less allowances $ 394,910 $ 370,327 $ 24,583 Inventories 250,217 258,440 (8,223 ) Prepaid expenses and other current assets 54,544 39,745 14,799 Deferred income taxes 9,848 11,050 (1,202 ) Liabilities Accrued liabilities 204,820 180,084 24,736 Deferred income taxes 75,192 74,855 337 Stockholders' equity Retained earnings 1,261,540 1,256,712 4,828 Accumulated other changes to equity (95,217 ) (95,273 ) 56

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Capitalized Contract Cost	Capitalized costs, net of amortization, to fulfill a contract balances were as follows: March 31, 2018 Tooling $ 3,937 Design costs 3,340 Other 93 $ 7,370
Disaggregation of Revenue	The following table presents the Company's revenue disaggregated by products and services, and geographic regions, by segment. For the period ended March 31, 2018 Industrial Aerospace Total Company Product and Services Engineered Components Products $ 92,013 $ — $ 92,013 Molding Solutions Products 119,099 — 119,099 Nitrogen Gas Products 34,849 — 34,849 Aerospace Original Equipment Manufacturer Products — 80,695 80,695 Aerospace Aftermarket Product and Services — 40,004 40,004 $ 245,961 $ 120,699 $ 366,660 Geographic Regions (A) Americas $ 96,527 $ 85,961 $ 182,488 Europe 94,140 24,675 118,815 Asia 54,380 8,913 63,293 Other 914 1,150 2,064 $ 245,961 $ 120,699 $ 366,660 (A) Sales by geographic market are based on the location to which the product is shipped.
Contract with Customer, Asset and Liability	Net contract assets (liabilities) consisted of the following: March 31, 2018 January 1, 2018 $ Change % Change Unbilled receivables (contract assets) $ 14,799 $ 14,579 $ 220 2 % Contract liabilities (71,423 ) (54,007 ) (17,416 ) 32 % Net contract liabilities $ (56,624 ) $ (39,428 ) $ (17,196 ) 44 % Contract liabilities balances at March 31, 2018 and January 1, 2018 include $24,646 and $13,536 , respectively, of customer advances for which the Company has an unconditional right to collect payment. Accounts receivable, as presented on the Consolidated Balance Sheet and within Note 2, includes corresponding balances at March 31, 2018 and January 1, 2018, respectively

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories consisted of: March 31, 2018 December 31, 2017 Finished goods $ 75,503 $ 79,649 Work-in-process 107,500 97,276 Raw material and supplies 67,214 65,037 $ 250,217 $ 241,962

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company as of and for the period ended March 31, 2018 : Industrial Aerospace Total Company January 1, 2018 $ 659,437 $ 30,786 $ 690,223 Foreign currency translation 15,071 — 15,071 March 31, 2018 $ 674,508 $ 30,786 $ 705,294
Schedule of Intangible Assets	Other intangible assets consisted of: March 31, 2018 December 31, 2017 Range of Life -Years Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Revenue sharing programs (RSPs) Up to 30 $ 293,700 $ (111,717 ) $ 293,700 $ (108,075 ) Component repair programs (CRPs) Up to 30 111,839 (17,783 ) 111,839 (16,508 ) Customer lists/relationships 10-16 215,966 (68,625 ) 215,966 (65,385 ) Patents and technology 4-10 87,052 (50,838 ) 87,052 (48,083 ) Trademarks/trade names 10-30 11,950 (10,446 ) 11,950 (10,349 ) Other Up to 15 20,551 (16,519 ) 20,551 (16,414 ) 741,058 (275,928 ) 741,058 (264,814 ) Unamortized intangible assets: Trade names 42,770 — 42,770 — Foreign currency translation (6,091 ) — (11,972 ) — Other intangible assets $ 777,737 $ (275,928 ) $ 771,856 $ (264,814 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt and notes and overdrafts payable at March 31, 2018 and December 31, 2017 consisted of: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Revolving credit agreement $ 397,550 $ 401,436 $ 421,500 $ 424,818 3.97% Senior Notes 100,000 100,304 100,000 101,348 Borrowings under lines of credit and overdrafts 14,896 14,896 5,669 5,669 Capital leases 7,896 8,555 4,541 4,964 Other foreign bank borrowings 742 755 886 897 521,084 525,946 532,596 537,696 Less current maturities (17,904 ) (6,999 ) Long-term debt $ 503,180 $ 525,597

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (Loss) Recorded in Other Expense (Income), Net in Consolidated Statements of Income	The following table sets forth the net (loss) gains recorded in other expense (income), net in the Consolidated Statements of Income for the three-month periods ended March 31, 2018 and 2017 for non-designated derivatives held by the Company. Such amounts were substantially offset by the net (gain) loss recorded on the underlying hedged asset or liability, also recorded in other expense (income), net. Three months ended March 31, 2018 2017 Foreign exchange contracts $ (6,092 ) $ (896 )
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table sets forth the gain (loss) recorded in accumulated other comprehensive income (loss), net of tax, for the three -month periods ended March 31, 2018 and 2017 for derivatives held by the Company and designated as hedging instruments. Three months ended March 31, 2018 2017 Cash flow hedges: Interest rate contracts $ 1,235 $ 47 Foreign exchange contracts (839 ) 36 $ 396 $ 83
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth the fair value amounts of derivative instruments held by the Company. March 31, 2018 December 31, 2017 Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contracts $ 2,274 $ — $ 654 $ — Foreign exchange contracts — (1,454 ) — (379 ) Derivatives not designated as hedging instruments: Foreign exchange contracts 640 (1,096 ) 58 (29 ) Total derivatives $ 2,914 $ (2,550 ) $ 712 $ (408 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table provides the assets and liabilities reported at fair value and measured on a recurring basis: Fair Value Measurements Using Description Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2018 Asset derivatives $ 2,914 $ — $ 2,914 $ — Liability derivatives (2,550 ) — (2,550 ) — Bank acceptances 17,350 — 17,350 — Rabbi trust assets 2,553 2,553 — — $ 20,267 $ 2,553 $ 17,714 $ — December 31, 2017 Asset derivatives $ 712 $ — $ 712 $ — Liability derivatives (408 ) — (408 ) — Bank acceptances 16,092 — 16,092 — Rabbi trust assets 2,554 2,554 — — $ 18,950 $ 2,554 $ 16,396 $ —

Pension and Other Postretirem29

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	Pension and other postretirement benefits expenses consisted of the following: Three months ended March 31, Pensions 2018 2017 Service cost $ 1,590 $ 1,643 Interest cost 4,309 4,621 Expected return on plan assets (7,394 ) (6,860 ) Amortization of prior service cost 141 109 Amortization of actuarial losses 2,811 2,480 Settlement gain — (261 ) Net periodic benefit cost $ 1,457 $ 1,732 Three months ended March 31, Other Postretirement Benefits 2018 2017 Service cost $ 24 $ 22 Interest cost 344 389 Amortization of prior service cost (credit) 5 (17 ) Amortization of actuarial losses 160 69 Net periodic benefit cost $ 533 $ 463

Changes in Accumulated Other 30

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) By Component	The following tables sets forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the three -month periods ended March 31, 2018 and 2017 : Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2018 $ 72 $ (103,844 ) $ (2,627 ) $ (106,399 ) Other comprehensive income before reclassifications 157 763 26,953 27,873 Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 239 2,401 — 2,640 Net current-period other comprehensive income 396 3,164 26,953 30,513 Amounts reclassified from accumulated other comprehensive income to retained earnings (A) — (19,331 ) — (19,331 ) March 31, 2018 $ 468 $ (120,011 ) $ 24,326 $ (95,217 ) (A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 2. Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2017 $ (227 ) $ (114,570 ) $ (86,031 ) $ (200,828 ) Other comprehensive income (loss) before reclassifications 27 (214 ) 18,609 18,422 Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 56 1,479 — 1,535 Net current-period other comprehensive income 83 1,265 18,609 19,957 March 31, 2017 $ (144 ) $ (113,305 ) $ (67,422 ) $ (180,871 )
Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) to the Consolidated Statements of Income	The following table sets forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three -month periods ended March 31, 2018 and 2017 : Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statements of Income Three months ended March 31, 2018 Three months ended March 31, 2017 Gains and losses on cash flow hedges Interest rate contracts $ (82 ) $ (53 ) Interest expense Foreign exchange contracts (226 ) (30 ) Net sales (308 ) (83 ) Total before tax 69 27 Tax benefit (239 ) (56 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs, net $ (146 ) $ (92 ) (A) Amortization of actuarial losses (2,971 ) (2,549 ) (A) Settlement gain — 261 (A) (3,117 ) (2,380 ) Total before tax 716 901 Tax benefit (2,401 ) (1,479 ) Net of tax Total reclassifications in the period $ (2,640 ) $ (1,535 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 10.

Information on Business Segme31

Information on Business Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth information about the Company's operations by its two reportable segments: Three months ended March 31, 2018 2017 Net sales Industrial $ 245,967 $ 227,340 Aerospace 120,699 114,470 Intersegment sales (6 ) (8 ) Total net sales $ 366,660 $ 341,802 Operating profit Industrial $ 32,378 $ 33,903 Aerospace 24,255 22,375 Total operating profit 56,633 56,278 Interest expense 3,892 3,349 Other expense (income), net 1,763 553 Income before income taxes $ 50,978 $ 52,376 March 31, 2018 December 31, 2017 Assets Industrial $ 1,574,386 $ 1,505,355 Aerospace 675,741 667,085 Other (A) 166,069 193,276 Total assets $ 2,416,196 $ 2,365,716 (A) "Other" assets include corporate-controlled assets, the majority of which are cash and cash equivalents.

Business Reorganization (Tables

Business Reorganization (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of Liability for 2017 employee termination actions	The following table sets forth the change in the liability for the 2017 employee termination actions: January 1, 2018 $ 649 Payments (195 ) Foreign currency translation 8 March 31, 2018 $ 462

Recent Accounting Standards (De

Recent Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Accounts receivable, less allowances	$ 394,910		$ 362,479	$ 348,943
Inventories	250,217		233,054	241,962
Prepaid expenses and other current assets	54,544		47,105
Deferred income taxes	9,848		11,171	12,161
Liabilities
Accrued liabilities	204,820		194,777	181,241
Deferred income taxes	75,192		73,891	73,505
Stockholders' equity
Retained earnings	1,261,540		1,211,018	1,206,723
Accumulated other non-owner changes to equity	(95,217)	$ (180,871)		(106,399)	$ (200,828)
Consolidated Statement of Income
Net sales	366,660	341,802
Cost of sales	237,134	219,549
Operating profit	56,633	56,278
Income before income taxes	50,978	52,376
Income taxes	12,160	14,073
Net income	38,818	38,303
Other expense (income), net	1,763	$ 553
Accounting Standards Update 2017-07 [Member]
Consolidated Statement of Income
Other expense (income), net	530
Accounting Standards Update 2018-02 [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member]
Stockholders' equity
Retained earnings	19,331
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Assets
Accounts receivable, less allowances	370,327			348,943
Inventories	258,440			241,962
Prepaid expenses and other current assets	39,745			32,526
Deferred income taxes	11,050			12,161
Liabilities
Accrued liabilities	180,084			181,241
Deferred income taxes	74,855			73,505
Stockholders' equity
Retained earnings	1,256,712			$ 1,206,723
Accumulated other non-owner changes to equity	(95,273)
Consolidated Statement of Income
Net sales	366,632
Cost of sales	237,817
Operating profit	55,922
Income before income taxes	50,267
Income taxes	11,982
Net income	38,285
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
Assets
Accounts receivable, less allowances	24,583		13,536
Inventories	(8,223)		(8,908)
Prepaid expenses and other current assets	14,799		14,579
Deferred income taxes	(1,202)		(990)
Liabilities
Accrued liabilities	24,736		13,536
Deferred income taxes	337		386
Stockholders' equity
Retained earnings	4,828		$ 4,295
Accumulated other non-owner changes to equity	56
Consolidated Statement of Income
Net sales	28
Cost of sales	(683)
Operating profit	711
Income before income taxes	711
Income taxes	178
Net income	$ 533

Revenue - Revenue by Category (

Revenue - Revenue by Category (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 366,660
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	245,961
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	120,699
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	182,488
Americas [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	96,527
Americas [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	85,961
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	118,815
Europe [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	94,140
Europe [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	24,675
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	63,293
Asia [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	54,380
Asia [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	8,913
Other Geographic Market [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,064
Other Geographic Market [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	914
Other Geographic Market [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,150
Engineered Components Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	92,013
Engineered Components Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	92,013
Engineered Components Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Molding Solutions Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	119,099
Molding Solutions Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	119,099
Molding Solutions Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Nitrogen Gas Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	34,849
Nitrogen Gas Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	34,849
Nitrogen Gas Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Aerospace Original Equipment Manufacturing Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	80,695
Aerospace Original Equipment Manufacturing Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Aerospace Original Equipment Manufacturing Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	80,695
Aerospace Aftermarket Products and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	40,004
Aerospace Aftermarket Products and Services [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Aerospace Aftermarket Products and Services [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 40,004
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	90.00%
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	10.00%

Revenue - Contract Estimates (D

Revenue - Contract Estimates (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized from performance obligations satisfied in previous periods	$ 258

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Unbilled receivables (contract assets)	$ 14,799	$ 14,579
Unbilled receivables (contract assets), $ Change	$ 220
Unbilled receivables (contract assets), % Change	2.00%
Contract liabilities	$ (71,423)	(54,007)
Contract liabilities, $ Change	$ (17,416)
Contract liabilities, % Change	32.00%
Net contract liabilities	$ (56,624)	(39,428)
Net contract liabilities, $ Change	$ (17,196)
Net contract liabilities, % Change	44.00%
Customer advances	$ 24,646	$ 13,536
Revenue recognized	$ 17,525

Revenue - Contract Costs (Detai

Revenue - Contract Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Capitalized Contract Cost [Line Items]
Amortization of capitalized costs	$ 3,986
Capitalized costs, net	7,370
Tooling [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	3,937
Design Costs [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	3,340
Other Capitalized Contract Cost [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	$ 93

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 139,762
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	1 year
Remaining performance obligations, percentage	75.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	2 years
Remaining performance obligations, percentage	25.00%

Net Income Per Common Share (De

Net Income Per Common Share (Details) - shares	1 Months Ended	3 Months Ended
	Feb. 28, 2018	Mar. 31, 2018	Mar. 31, 2017
Net Income Per Common Share [Line Items]
Weighted average number of diluted shares outstanding adjustment (in shares)		553,903	472,705
Stock Options [Member]
Net Income Per Common Share [Line Items]
Antidilutive securities excluded from computation of EPS		153,908	177,781
Options, granted (in shares)	102,400
Restricted Stock Units (RSUs) [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	88,543
Performance Share Awards [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	70,005
Performance period		3 years
Minimum range of target award of stock plan		0.00%
Maximum range of target award of stock plan		250.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 75,503		$ 79,649
Work-in-process	107,500		97,276
Raw material and supplies	67,214		65,037
Inventories	$ 250,217	$ 233,054	$ 241,962

Goodwill and Other Intangible41

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Goodwill:
Goodwill, beginning of period	$ 690,223
Foreign currency translation	15,071
Goodwill, end of period	705,294
Other Intangible Assets:
Gross Amount	741,058	$ 741,058
Accumulated Amortization	(275,928)	(264,814)
Foreign currency translation	(6,091)	(11,972)
Other intangible assets	777,737	771,856
Intangible Assets, Future Amortization Expense
Amortization of intangible assets expected in 2018	41,000
Amortization of intangible assets expected in 2019	41,000
Amortization of intangible assets expected in 2020	37,000
Amortization of intangible assets expected in 2021	37,000
Amortization of intangible assets expected in 2022	37,000
Trade name [Member]
Other Intangible Assets:
Unamortized intangible asset	42,770	42,770
Revenue sharing programs (RSPs) [Member]
Other Intangible Assets:
Gross Amount	293,700	293,700
Accumulated Amortization	(111,717)	(108,075)
Component repair programs (CRPs) [Member]
Other Intangible Assets:
Gross Amount	111,839	111,839
Accumulated Amortization	(17,783)	(16,508)
Customer lists/relationships [Member]
Other Intangible Assets:
Gross Amount	215,966	215,966
Accumulated Amortization	(68,625)	(65,385)
Patents and technology [Member]
Other Intangible Assets:
Gross Amount	87,052	87,052
Accumulated Amortization	(50,838)	(48,083)
Trademarks/trade names [Member]
Other Intangible Assets:
Gross Amount	11,950	11,950
Accumulated Amortization	(10,446)	(10,349)
Other [Member]
Other Intangible Assets:
Gross Amount	20,551	20,551
Accumulated Amortization	(16,519)	$ (16,414)
Industrial [Member]
Goodwill:
Goodwill, beginning of period	659,437
Foreign currency translation	15,071
Goodwill, end of period	674,508
Aerospace [Member]
Goodwill:
Goodwill, beginning of period	30,786
Foreign currency translation	0
Goodwill, end of period	$ 30,786
Minimum [Member] | Customer lists/relationships [Member]
Other Intangible Assets:
Range of life	10 years
Minimum [Member] | Patents and technology [Member]
Other Intangible Assets:
Range of life	4 years
Minimum [Member] | Trademarks/trade names [Member]
Other Intangible Assets:
Range of life	10 years
Maximum [Member] | Revenue sharing programs (RSPs) [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] | Component repair programs (CRPs) [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] | Customer lists/relationships [Member]
Other Intangible Assets:
Range of life	16 years
Maximum [Member] | Patents and technology [Member]
Other Intangible Assets:
Range of life	10 years
Maximum [Member] | Trademarks/trade names [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] | Other [Member]
Other Intangible Assets:
Range of life	15 years

Debt (Debt Schedule) (Details)

Debt (Debt Schedule) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Fair value of debt	$ 525,946	$ 537,696
Total debt, net of unamortized discounts	521,084	532,596
Borrowings under lines of credit and overdrafts	14,896	5,669
Less current maturities	(17,904)	(6,999)
Long-term debt	503,180	525,597
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt	397,550	421,500
Fair value of debt	401,436	424,818
Senior Notes [Member] | 3.97% Senior Notes [Member]
Debt Instrument [Line Items]
Carrying amount of debt	100,000	100,000
Fair value of debt	100,304	101,348
Lines of Credit and Overdrafts [Member]
Debt Instrument [Line Items]
Fair value of debt	14,896	5,669
Borrowings under lines of credit and overdrafts	14,896	5,669
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Carrying amount of debt	7,896	4,541
Fair value of debt	8,555	4,964
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt	742	886
Fair value of debt	$ 755	$ 897

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended	3 Months Ended
	Feb. 28, 2017USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Oct. 31, 2014USD ($)
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts		$ 14,896,000	$ 5,669,000
Debt covenant ratio of senior debt to EBITDA		3.25
Debt covenant ratio of total debt to EBITDA		3.75
Debt covenant ratio of EBITDA to cash interest expense		4.25
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt		$ 397,550,000	421,500,000
Line of credit facility, maximum borrowing capacity				$ 750,000,000
Line of credit facility with accordian feature, maximum borrowing capacity				$ 250,000,000
Remaining borrowing capacity		$ 452,450,000	$ 428,500,000
Revolving Credit Agreement [Member] | Euro Member Countries, Euro
Debt Instrument [Line Items]
Stated interest rate		2.96%	2.65%
Senior Notes [Member] | 3.97% Senior Notes [Member]
Debt Instrument [Line Items]
Carrying amount of debt		$ 100,000,000	$ 100,000,000
Stated interest rate					3.97%
Converted amount with accrued interest					$ 100,000,000
Percent allowed to be prepaid					100.00%
Lines of Credit [Member]
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts		14,600,000	$ 5,300,000
Line of credit facility, maximum borrowing capacity		$ 59,000,000
Line of credit, interest rate at period end		2.60%	2.33%
Bank Overdrafts [Member]
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts		$ 296,000	$ 369,000
Repayment period		2 days
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Carrying amount of debt		$ 7,896,000	4,541,000
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt		$ 742,000	$ 886,000
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 850,000,000
Debt fees and expenses	2,542,000
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | United Kingdom, Pounds
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	600,000,000
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | Euro Member Countries, Euro
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	600,000,000
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | Switzerland, Francs
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | one-month LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread	1.10%
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | one-month LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread	1.70%
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread	0.10%
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread	0.70%
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022, Accordion Feature [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 350,000,000

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Assets	$ 2,914	$ 712
Derivative Liabilities	(2,550)	(408)
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Assets	2,274	654
Derivative Liabilities	0	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Assets	0	0
Derivative Liabilities	(1,454)	(379)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative Assets	640	58
Derivative Liabilities	$ (1,096)	$ (29)

Derivatives (Details 1)

Derivatives (Details 1) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2012USD ($)Bank	Apr. 28, 2017USD ($)Bank
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	2 years
Net cash payments from settlement	$ (6,546)	$ (5,828)
Foreign Exchange Contract [Member]
Derivative [Line Items]
Net cash payments from settlement	6,505	3,243
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	396	83
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	1,235	47
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(839)	36
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (6,092)	$ (896)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Term of interest rate derivatives			5 years
Number of banks transacted with for interest rate swap agreements (in banks) | Bank			3	1
Fixed interest rate			1.03%	1.92%
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | one-month LIBOR [Member]
Derivative [Line Items]
Derivative amount of hedge			$ 100,000	$ 100,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	$ 2,914	$ 712
Liability derivatives	(2,550)	(408)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Bank acceptances	0	0
Rabbi trust assets	2,553	2,554
Financial assets and financial liabilities, reported at fair value	2,553	2,554
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	2,914	712
Liability derivatives	(2,550)	(408)
Bank acceptances	17,350	16,092
Rabbi trust assets	0	0
Financial assets and financial liabilities, reported at fair value	17,714	16,396
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Bank acceptances	0	0
Rabbi trust assets	0	0
Financial assets and financial liabilities, reported at fair value	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	2,914	712
Liability derivatives	(2,550)	(408)
Bank acceptances	17,350	16,092
Rabbi trust assets	2,553	2,554
Financial assets and financial liabilities, reported at fair value	$ 20,267	$ 18,950
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	3 months
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	6 months

Pension and Other Postretirem47

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pensions [Member]
Pension and other postretirement benefits expenses
Service cost	$ 1,590	$ 1,643
Interest cost	4,309	4,621
Expected return on plan assets	(7,394)	(6,860)
Amortization of prior service cost (credit)	141	109
Amortization of actuarial losses	2,811	2,480
Settlement gain	0	(261)
Net periodic benefit cost	1,457	1,732
Expected company contributions in 2018	4,600
Pensions [Member] | Qualified Plan [Member]
Pension and other postretirement benefits expenses
Expected company contributions in 2018	0
Other Postretirement Benefits [Member]
Pension and other postretirement benefits expenses
Service cost	24	22
Interest cost	344	389
Amortization of prior service cost (credit)	5	(17)
Amortization of actuarial losses	160	69
Net periodic benefit cost	$ 533	$ 463

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate	23.90%	26.90%	69.60%
Effective tax rate scenario without TCJA			20.20%
TCJA one-time expense			$ 99,214,000
TCJA, benefit on current year repatriation	$ 2,514,000
TCJA liability recorded for earnings expected to repatriate	$ 6,932

Changes in Accumulated Other 49

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)	$ (106,399)	$ (200,828)
Other comprehensive income before reclassifications	27,873	18,422
Amounts reclassified from accumulated other comprehensive income	2,640	1,535
Net current-period other comprehensive income	30,513	19,957
Accumulated other comprehensive income (loss)	(95,217)	(180,871)
Accounting Standards Update 2018-02 [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Amounts reclassified from accumulated other comprehensive income	(19,331)
Gains and Losses on Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)	72	(227)
Other comprehensive income before reclassifications	157	27
Amounts reclassified from accumulated other comprehensive income	239	56
Net current-period other comprehensive income	396	83
Accumulated other comprehensive income (loss)	468	(144)
Gains and Losses on Cash Flow Hedges | Accounting Standards Update 2018-02 [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Amounts reclassified from accumulated other comprehensive income	0
Pension and Other Postretirement Benefit Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)	(103,844)	(114,570)
Other comprehensive income before reclassifications	763	(214)
Amounts reclassified from accumulated other comprehensive income	2,401	1,479
Net current-period other comprehensive income	3,164	1,265
Accumulated other comprehensive income (loss)	(120,011)	(113,305)
Pension and Other Postretirement Benefit Items | Accounting Standards Update 2018-02 [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Amounts reclassified from accumulated other comprehensive income	(19,331)
Foreign Currency Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)	(2,627)	(86,031)
Other comprehensive income before reclassifications	26,953	18,609
Amounts reclassified from accumulated other comprehensive income	0	0
Net current-period other comprehensive income	26,953	18,609
Accumulated other comprehensive income (loss)	24,326	$ (67,422)
Foreign Currency Items | Accounting Standards Update 2018-02 [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Amounts reclassified from accumulated other comprehensive income	$ 0

Changes in Accumulated Other 50

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (3,892)	$ (3,349)
Net sales	366,660	341,802
Income before income taxes	50,978	52,376
Tax benefit	(12,160)	(14,073)
Total reclassifications in the period	38,818	38,303
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications in the period	(2,640)	(1,535)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(308)	(83)
Tax benefit	69	27
Income from continuing operations	(239)	(56)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges | Interest Rate Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(82)	(53)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges | Foreign Exchange Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	(226)	(30)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and Other Postretirement Benefit Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(3,117)	(2,380)
Tax benefit	716	901
Income from continuing operations	(2,401)	(1,479)
Amortization of prior-service credits, net	(146)	(92)
Amortization of actuarial losses	(2,971)	(2,549)
Settlement gain	$ 0	$ 261

Information on Business Segme51

Information on Business Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
Net sales	$ 366,660	$ 341,802
Operating profit	56,633	56,278
Interest expense	3,892	3,349
Other expense (income), net	1,763	553
Income before income taxes	50,978	52,376
Aerospace [Member]
Segment Reporting Information [Line Items]
Net sales	120,699	114,470
Operating profit	24,255	22,375
Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	245,967	227,340
Operating profit	32,378	33,903
Intersegment sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ (6)	$ (8)

Information on Business Segme52

Information on Business Segments Details 1 (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 2,416,196	$ 2,365,716
Aerospace [Member]
Segment Reporting Information [Line Items]
Assets	675,741	667,085
Industrial [Member]
Segment Reporting Information [Line Items]
Assets	1,574,386	1,505,355
Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 166,069	$ 193,276

Business Reorganization (Detail

Business Reorganization (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)facility
Restructuring and Related Activities [Abstract]
Number of facilities eliminated | facility		2
Restructuring Reserve [Roll Forward]
Restructuring reserve	$ 649
Payments	(195)
Foreign currency translation	8
Restructuring reserve	$ 462	$ 649