Barnes (B) 10-Q 25 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 23, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-4801
Entity Registrant Name	BARNES GROUP INC
Entity Central Index Key	0000009984
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-0247840
Entity Address, Address Line One	123 Main Street
Entity Address, City or Town	Bristol
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06010
City Area Code	860
Local Phone Number	583-7070
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	B
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,713,922

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 372,587	$ 369,797	$ 1,120,947	$ 1,111,772
Cost of sales	234,421	236,880	717,370	711,622
Selling and administrative expenses	70,581	73,854	228,385	220,575
Total operating costs and expenses	305,002	310,734	945,755	932,197
Operating income	67,585	59,063	175,192	179,575
Interest expense	5,344	4,054	15,856	12,078
Other expense (income), net	2,524	2,447	6,043	5,157
Income before income taxes	59,717	52,562	153,293	162,340
Income taxes	13,948	13,453	35,916	34,983
Net income	$ 45,769	$ 39,109	$ 117,377	$ 127,357
Per common share:
Basic (in dollars per share)	$ 0.90	$ 0.76	$ 2.29	$ 2.42
Diluted (in dollars per share)	$ 0.89	$ 0.75	$ 2.27	$ 2.40
Weighted average common shares outstanding:
Basic (in shares)	50,926,521	51,569,764	51,276,801	52,555,130
Diluted (in shares)	51,230,845	52,080,676	51,718,574	53,091,468

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income		$ 45,769	$ 39,109	$ 117,377	$ 127,357
Other comprehensive (loss) income, net of tax
Unrealized (loss) gain on hedging activities, net of tax (1)	[1]	(168)	1,075	(1,960)	1,886
Foreign currency translation adjustments, net of tax (2)	[2]	(39,289)	1,737	(44,513)	(36,670)
Defined benefit pension and other postretirement benefits, net of tax (3)	[3]	2,112	2,193	5,648	8,382
Total other comprehensive (loss) income, net of tax		(37,345)	5,005	(40,825)	(26,402)
Total comprehensive income		8,424	44,114	76,552	100,955
Unrealized (loss) income on hedging activities, tax		(52)	315	(607)	593
Foreign currency translation adjustment, tax		(196)	43	(230)	(119)
Defined benefit pension and other postretirement benefits, tax		$ 554	$ 750	$ 1,663	$ 2,813
[1]	Net of tax of $(52) and $315 for the three months ended September 30, 2019 and 2018 , respectively, and $(607) and $593 for the nine months ended September 30, 2019 and 2018 , respectively.
[2]	Net of tax of $(196) and $43 for the three months ended September 30, 2019 and 2018 , respectively, and $(230) and $(119) for the nine months ended September 30, 2019 and 2018 , respectively.
[3]	Net of tax of $554 and $750 for the three months ended September 30, 2019 and 2018 , respectively, and $1,663 and $2,813 for the nine months ended September 30, 2019 and 2018 , respectively.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 80,468	$ 100,719
Accounts receivable, less allowances (2019 - $4,510; 2018 - $5,010)	370,052	382,253
Inventories	254,478	265,990
Prepaid expenses and other current assets	67,408	57,184
Total current assets	772,406	806,146
Deferred income taxes	16,302	20,474
Property, plant and equipment	864,950	853,497
Less accumulated depreciation	(501,365)	(482,966)
Property, plant and equipment, net	363,585	370,531
Goodwill	922,608	955,524
Other intangible assets, net	583,328	636,538
Other assets	49,685	19,757
Total assets	2,707,914	2,808,970
Current liabilities
Notes and overdrafts payable	18,520	2,137
Accounts payable	122,066	143,419
Accrued liabilities	204,694	206,782
Long-term debt - current	1,724	5,522
Total current liabilities	347,004	357,860
Long-term debt	856,082	936,357
Accrued retirement benefits	81,897	104,302
Deferred income taxes	94,929	106,559
Long-term tax liability	66,012	72,961
Other liabilities	51,292	27,875
Commitments and contingencies (Note 17)
Stockholders' equity
Common stock - par value $0.01 per share Authorized: 150,000,000 shares Issued: at par value (2019 - 63,756,811 shares; 2018 - 63,367,133 shares)	638	634
Additional paid-in capital	482,855	470,818
Treasury stock, at cost (2019 - 13,048,629 shares; 2018 - 12,033,580 shares)	(497,928)	(441,668)
Retained earnings	1,456,458	1,363,772
Accumulated other non-owner changes to equity	(231,325)	(190,500)
Total stockholders' equity	1,210,698	1,203,056
Total liabilities and stockholders' equity	$ 2,707,914	$ 2,808,970

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,510	$ 5,010
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)	63,756,811	63,367,133
Treasury stock, at cost (in shares)	13,048,629	12,033,580

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net income	$ 117,377	$ 127,357
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,692	70,405
Loss on disposition of property, plant and equipment	35	124
Stock compensation expense	9,740	8,850
Changes in assets and liabilities, net of the effects of acquisitions:
Accounts receivable	9,741	(12,136)
Inventories	6,145	(24,525)
Prepaid expenses and other current assets	(12,494)	(7,186)
Accounts payable	(19,541)	4,824
Accrued liabilities	(216)	9,765
Deferred income taxes	(2,617)	(13,758)
Long-term retirement benefits	(16,862)	544
Long-term tax liability	(6,949)	(7,465)
Other	1,298	1,162
Net cash provided by operating activities	161,349	157,961
Investing activities:
Proceeds from disposition of property, plant and equipment	233	491
Capital expenditures	(37,722)	(40,168)
Business acquisitions, net of cash acquired	(6,061)	(30,837)
Revenue Sharing Program payments	0	(5,800)
Other	0	(1,000)
Net cash used in investing activities	(43,550)	(77,314)
Financing activities:
Net change in other borrowings	16,415	(5,542)
Payments on long-term debt	(290,593)	(381,887)
Proceeds from the issuance of long-term debt	230,625	414,989
Proceeds from the issuance of common stock	2,458	721
Common stock repurchases	(50,347)	(138,275)
Dividends paid	(24,414)	(23,996)
Withholding taxes paid on stock issuances	(5,913)	(5,149)
Other	(13,034)	(3,598)
Net cash used in financing activities	(134,803)	(142,737)
Effect of exchange rate changes on cash flows	(3,247)	(3,813)
Decrease in cash and cash equivalents	(20,251)	(65,903)
Cash and cash equivalents at beginning of period	100,719	145,290
Cash and cash equivalents at end of period	$ 80,468	$ 79,387

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
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, 2018 has been derived from the 2018 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, 2018 . 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 nine -month period ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions In the third quarter of 2018, the Company acquired Industrial Gas Springs Group Holdings Limited (“IGS”) and in the fourth quarter of 2018, the Company acquired Gimatic S.r.l ("Gimatic"). The following table reflects the unaudited pro forma operating results (the "Pro Forma Results") of the Company for the three and nine months ended September 30, 2018, which give effect to the acquisitions of Gimatic and IGS as if they had occurred on January 1, 2017. The Pro Forma Results are based on assumptions that the Company believes are reasonable under the circumstances. The Pro Forma Results are not necessarily indicative of the operating results that would have occurred if the acquisitions had been effective January 1, 2017, nor are they intended to be indicative of results that may occur in the future. The underlying Pro Forma Results include the historical financial results of the Company and the acquired entities adjusted for certain items including amortization expense associated with the assets acquired and the Company’s expense related to financing arrangements, with the related tax effects. The Pro Forma Results do not include the effects of any synergies or cost reduction initiatives related to the acquisitions. (Unaudited Pro Forma) Three Months Ended Nine Months Ended Net Sales $ 384,266 $ 1,166,087 Net Income 40,517 127,731

Recent Accounting Standards

Recent Accounting Standards	9 Months Ended
	Sep. 30, 2019
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 February 2016, the FASB amended its guidance related to lease accounting. The amended guidance required lessees to recognize a majority of their leases on the balance sheet as a right-of-use ("ROU") asset and a lease liability. 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, with leases being classified as either finance or operating in nature. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption was permitted. The Company adopted the new standard using the modified retrospective approach on January 1, 2019. The Company's adoption included lease codification improvements that were issued by the FASB through March 2019. The Company elected an available transition method that uses the effective date of the amended guidance as the date of initial application. The FASB made available several practical expedients in adopting the amended lease accounting guidance. The Company elected the package of practical expedients permitted under the transition guidance within the amended guidance, which among other things, allowed registrants to carry forward historical lease classification. The Company elected the practical expedient that allows the combination of both lease and non-lease components as a single component and account for it as a lease for all classes of underlying assets. The Company elected not to apply the amended guidance to short term leases with an initial term of 12 months or less. The Company recognizes those lease payments in the Consolidated Statements of Income on a straight-line basis over the lease term. The Company elected to use a single discount rate for a portfolio of leases with reasonably similar characteristics. The most significant impact of the guidance was the recognition of ROU assets and related lease liabilities for operating leases on the Consolidated Balance Sheet. The Company recognized ROU assets and related lease liabilities of $31,724 and $32,579 respectively, related to operating lease commitments, as of January 1, 2019. The operating lease ROU asset represents the lease liability, plus any lease payments made at or before the commencement date, less any lease incentives received. The amended guidance did not have a material impact on the Company's cash flows or results of operations. See Note 14 of the Consolidated Financial Statements. In May 2014, the FASB amended its guidance related to revenue recognition. The amended guidance established a single comprehensive model for entities 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 clarified 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 applied to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. Companies had 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 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. 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 recognized 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. See Note 4 of the 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 was 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 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 was effective for fiscal years beginning after December 15, 2019. Early adoption was permitted. The Company elected to early adopt this amended guidance during the second quarter of 2018 in connection with its annual goodwill impairment testing and it did not have an impact on the Company's Consolidated Financial Statements. 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 requires presentation with other employee compensation costs in operating income, consistent with the earlier guidance. The other components of expense, however, are 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 was effective for annual periods beginning after December 15, 2017 and interim periods within that reporting period. The Company adopted the amended guidance on a retrospective basis during the first quarter of 2018 and it did not have a material impact on its results of operations. See Note 12 of the Consolidated Financial Statements for additional disclosure related to pension and postretirement benefit costs. 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 was 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. In August 2018, the FASB issued new guidance related to a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by a vendor (for example, a service contract). Pursuant to the new guidance, customers apply the same criteria for capitalizing implementation costs in a hosting arrangement as they would for an arrangement that has a software license. The new guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption was permitted, including adoption in any interim period for which financial statements have not been issued. The FASB provided the option of applying the guidance retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company elected to early adopt this guidance, prospectively, during the third quarter of 2018, and it did not have a material impact on the 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 adopted the amended guidance on January 1, 2019 and it did not have a material impact on the Consolidated Financial Statements, however it did result in amendments to certain disclosures required pursuant to the earlier guidance. See Note 10 of the Consolidated Financial Statements. Recently Issued Accounting Standards In August 2018, the FASB amended its guidance related to disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amended requirements serve to remove, add and otherwise clarify certain existing disclosures. The amended guidance is effective for fiscal years ending after December 15, 2020. The guidance requires application on a retrospective basis to all periods presented. The Company is currently evaluating the impact that the guidance may have on the disclosures within its Consolidated Financial Statements.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
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, automation, 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 3 of the Consolidated Financial Statements further discusses this adoption. Revenue is recognized by the Company when control of the 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, and 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: Three Months Ended Nine Months Ended Industrial Aerospace Total Company Industrial Aerospace Total Company Product and Services Engineered Components Products $ 63,069 $ — $ 63,069 $ 198,291 $ — $ 198,291 Molding Solutions Products 110,546 — 110,546 323,242 — 323,242 Force & Motion Control Products 45,676 — 45,676 144,746 — 144,746 Automation Products 12,397 — 12,397 41,315 — 41,315 Aerospace Original Equipment Manufacturer Products — 92,885 92,885 — 274,708 274,708 Aerospace Aftermarket Product and Services — 48,014 48,014 — 138,645 138,645 $ 231,688 $ 140,899 $ 372,587 $ 707,594 $ 413,353 $ 1,120,947 Geographic Regions (A) Americas $ 93,086 $ 100,949 $ 194,035 $ 278,520 $ 299,220 $ 577,740 Europe 77,308 25,534 102,842 261,388 73,248 334,636 Asia 60,433 13,444 73,877 164,844 38,051 202,895 Other 861 972 1,833 2,842 2,834 5,676 $ 231,688 $ 140,899 $ 372,587 $ 707,594 $ 413,353 $ 1,120,947 Three Months Ended Nine Months Ended Industrial Aerospace Total Company Industrial Aerospace Total Company Product and Services Engineered Components Products $ 69,994 $ — $ 69,994 $ 220,448 $ — $ 220,448 Molding Solutions Products 124,887 — 124,887 369,923 — 369,923 Force & Motion Control Products 49,251 — 49,251 149,299 — 149,299 Automation Products — — — — — — Aerospace Original Equipment Manufacturer Products — 84,741 84,741 — 249,963 249,963 Aerospace Aftermarket Product and Services — 40,924 40,924 — 122,139 122,139 $ 244,132 $ 125,665 $ 369,797 $ 739,670 $ 372,102 $ 1,111,772 Geographic Regions (A) Americas $ 98,948 $ 88,260 $ 187,208 $ 288,265 $ 266,698 $ 554,963 Europe 86,083 25,591 111,674 273,214 72,991 346,205 Asia 58,151 10,911 69,062 175,533 29,671 205,204 Other 950 903 1,853 2,658 2,742 5,400 $ 244,132 $ 125,665 $ 369,797 $ 739,670 $ 372,102 $ 1,111,772 (A) Sales by geographic region are based on the location to which the product is shipped. Revenue from products and services transferred to customers at a point in time accounted for approximately 90 percent of revenue for both the three and nine month periods ended September 30, 2019 . 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 both the three and nine month periods ended September 30, 2019 . 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 Original Equipment Manufacturer Products is recognized over time. Within the Molding Solutions and Aerospace Aftermarket businesses, 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. 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. The majority of our revenues are from contracts that are less than one year, however certain Aerospace OEM and Industrial Molding Solutions 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 and service 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. 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. 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. 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 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. Adjustments to net sales, cost of sales and the related impact to operating income are recognized as necessary in the period they become known. Revenue recognized from performance obligations satisfied in previous periods was not material in the three and nine months ended September 30, 2019 . 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 September 30, 2019 and December 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 business, 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 generally 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 liabilities consisted of the following: September 30, 2019 December 31, 2018 $ Change % Change Unbilled receivables (contract assets) $ 20,555 $ 11,844 $ 8,711 74 % Contract liabilities (58,031 ) (57,522 ) (509 ) 1 % Net contract liabilities $ (37,476 ) $ (45,678 ) $ 8,202 (18 )% Contract liabilities balances at September 30, 2019 and December 31, 2018 include $14,861 and $15,348 , respectively, of customer advances for which the Company has an unconditional right to collect payment. Accounts receivable, as presented on the Consolidated Balance Sheet, includes corresponding balances at September 30, 2019 and December 31, 2018 , respectively. Changes in the net contract liabilities balance during the nine -month period ended September 30, 2019 were impacted by a $509 increase in contract liabilities, driven primarily by new customer advances and deposits, partially offset by revenue recognized in the current period. Adding to this net contract liability decrease was a $8,711 increase in contract assets, driven primarily by contract progress (i.e.unbilled receivable), partially offset by earlier contract progress being invoiced to the customer. The Company recognized approximately 15% and 70% of the revenue related to the contract liability balance as of December 31, 2018 during the three and nine months ended September 30, 2019 , respectively, primarily representing 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 business. 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 $3,506 and $10,614 in the three and nine month periods ended September 30, 2019 , respectively, and $3,606 and $11,548 in the three and nine month periods ended September 30, 2018 , respectively. Capitalized costs, net of amortization, to fulfill a contract balances were as follows: September 30, 2019 December 31, 2018 Tooling $ 6,231 $ 6,155 Design costs 2,441 2,285 Other — 5 $ 8,672 $ 8,445 Remaining Performance Obligations . The Company has elected to disclose 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, for Aerospace, 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 September 30, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was $226,202 . 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.

Stockholders Equity

Stockholders Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders Equity	Stockholders' Equity A schedule of consolidated changes in equity for the nine months ended September 30, 2019 is as follows (shares in thousands): Common Common Additional Treasury Treasury Retained Accumulated Total December 31, 2018 63,367 $ 634 $ 470,818 12,034 $ (441,668 ) $ 1,363,772 $ (190,500 ) $ 1,203,056 Comprehensive income — — — — — 33,992 (8,178 ) 25,814 Dividends declared ($0.16 per share) — — — — — (8,217 ) — (8,217 ) Employee stock plans 51 — 4,039 1 (80 ) (109 ) — 3,850 March 31, 2019 63,418 $ 634 $ 474,857 12,035 $ (441,748 ) $ 1,389,438 $ (198,678 ) $ 1,224,503 Comprehensive income — — — — — 37,616 4,698 42,314 Dividends declared ($0.16 per share) — — — — — (8,086 ) — (8,086 ) Common stock repurchases — — — 900 (50,347 ) — — (50,347 ) Employee stock plans 18 — 3,285 2 (106 ) (178 ) — 3,001 June 30, 2019 63,436 $ 634 $ 478,142 12,937 $ (492,201 ) $ 1,418,790 $ (193,980 ) $ 1,211,385 Comprehensive income — — — — — 45,769 (37,345 ) 8,424 Dividends declared ($0.16 per share) — — — — — (8,111 ) — (8,111 ) Employee stock plans 321 4 4,713 112 (5,727 ) 10 — (1,000 ) September 30, 2019 63,757 $ 638 $ 482,855 13,049 $ (497,928 ) $ 1,456,458 $ (231,325 ) $ 1,210,698 A schedule of consolidated changes in equity for the nine months ended September 30, 2018 is as follows (shares in thousands): Common Common Additional Treasury Treasury Retained Accumulated Total December 31, 2017 63,034 $ 630 $ 457,365 9,656 $ (297,998 ) $ 1,206,723 $ (106,399 ) $ 1,260,321 Comprehensive income — — — — — 38,818 30,513 69,331 Dividends declared ($0.14 per share) — — — — — (7,453 ) — (7,453 ) Common stock repurchases — — — 533 (33,541 ) — — (33,541 ) Reclassification pursuant to — — — — — 19,331 (19,331 ) — Cumulative effect of change in accounting guidance related to Revenue (Note 3) — — — — — 4,295 — 4,295 Employee stock plans 20 1 2,874 1 (68 ) (174 ) — 2,633 March 31, 2018 63,054 $ 631 $ 460,239 10,190 $ (331,607 ) $ 1,261,540 $ (95,217 ) $ 1,295,586 Comprehensive income — — — — — 49,429 (61,920 ) (12,491 ) Dividends declared ($0.16 per share) — — — — — (8,342 ) — (8,342 ) Common stock repurchases — — — 1,422 (84,574 ) — — (84,574 ) Employee stock plans 13 — 3,078 2 (107 ) 13 — 2,984 June 30, 2018 63,067 $ 631 $ 463,317 11,614 $ (416,288 ) $ 1,302,640 $ (157,137 ) $ 1,193,163 Comprehensive income — — — — — 39,109 5,005 44,114 Dividends declared ($0.16 per share) — — — — — (8,201 ) — (8,201 ) Common stock repurchases — — — 337 (20,160 ) — — (20,160 ) Employee stock plans 226 2 3,293 79 (4,974 ) (332 ) — (2,011 ) September 30, 2018 63,293 $ 633 $ 466,610 12,030 $ (441,422 ) $ 1,333,216 $ (152,132 ) $ 1,206,905

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2019
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 304,324 and 510,912 for the three month periods ended September 30, 2019 and 2018 , respectively, and by 441,773 and 536,338 for the nine month periods ended September 30, 2019 and 2018 , 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 September 30, 2019 and 2018 , the Company excluded 257,979 and 108,516 stock awards, respectively, from the calculation of weighted-average diluted shares outstanding as the stock awards were considered anti-dilutive. During the nine month periods ended September 30, 2019 and 2018 , the Company excluded 295,043 and 133,910 stock awards, respectively, from the calculation of weighted-average diluted shares outstanding as the stock awards were considered anti-dilutive. The Company granted 120,585 stock options, 93,992 restricted stock unit awards and 88,402 performance share awards ("PSAs") in February 2019 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 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 2019 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 was determined using a Monte Carlo valuation method as the award contains a market condition.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories consisted of: September 30, 2019 December 31, 2018 Finished goods $ 78,089 $ 87,779 Work-in-process 97,631 98,426 Raw material and supplies 78,758 79,785 $ 254,478 $ 265,990

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 : Industrial Aerospace Total Company January 1, 2019 $ 924,738 $ 30,786 $ 955,524 Acquisition related 681 — 681 Foreign currency translation (33,597 ) — (33,597 ) September 30, 2019 $ 891,822 $ 30,786 $ 922,608 In the second quarter of 2019 , management performed its annual impairment testing of goodwill and determined that there was no goodwill impairment. Other Intangible Assets: Other intangible assets consisted of: September 30, 2019 December 31, 2018 Range of Life -Years Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Revenue Sharing Programs (RSPs) Up to 30 $ 299,500 $ (132,410 ) $ 299,500 $ (121,957 ) Component Repair Programs (CRPs) Up to 30 111,839 (25,918 ) 111,839 (21,895 ) Customer relationships 10-16 338,366 (94,668 ) 338,366 (79,439 ) Patents and technology 4-10 125,852 (68,637 ) 125,852 (59,205 ) Trademarks/trade names 10-30 11,950 (11,021 ) 11,950 (10,731 ) Other Up to 15 7,296 (3,898 ) 7,296 (3,551 ) 894,803 (336,552 ) 894,803 (296,778 ) Unamortized intangible assets: Trade names 55,670 — 55,670 — Foreign currency translation (30,593 ) — (17,157 ) — Other intangible assets $ 919,880 $ (336,552 ) $ 933,316 $ (296,778 ) Estimated amortization of intangible assets for future periods is as follows: 2019 - $53,000 ; 2020 - $50,000 ; 2021 - $49,000 ; 2022 - $49,000 and 2023 - $48,000 . In the second quarter of 2019 , management performed its annual impairment testing of its trade names, indefinite-lived intangible assets. Based on this assessment, there were no impairments.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 , and continues to monitor its future compliance based on current and anticipated future economic conditions. Long-term debt and notes and overdrafts payable at September 30, 2019 and December 31, 2018 consisted of: September 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Revolving credit agreement $ 752,035 $ 771,523 $ 831,016 $ 828,800 3.97% Senior Notes 100,000 105,793 100,000 100,185 Borrowings under lines of credit and overdrafts 18,520 18,520 2,137 2,137 Finance leases 5,323 5,556 10,216 10,503 Other foreign bank borrowings 448 452 647 651 876,326 901,844 944,016 942,276 Less current maturities (20,244 ) (7,659 ) Long-term debt $ 856,082 $ 936,357 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 extends the maturity date from September 2018 to February 2022. The Amended Credit Agreement also increases 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, British pound sterling or Swiss franc borrowing, up to $600,000 . In September 2018, the Company and one of its wholly owned subsidiaries entered into a Sale and Purchase Agreement to acquire Gimatic. See Note 2 of the Consolidated Financial Statements. In conjunction with the Acquisition, the Company requested additional borrowings of $150,000 that was provided for under the existing accordion feature. The Administrative Agent for the lenders approved the Company's access to the accordion feature and on October 19, 2018 the lenders formally committed the capital to fund such feature, resulting in the execution of the fifth amendment to the Amended Credit Agreement (the "Fifth Amendment"). The Fifth Amendment, effective October 19, 2018, thereby increased the borrowing availability of the existing facility to $1,000,000 . The Company may also request access to the residual $200,000 of the accordion feature. 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% . Multi-currency borrowings, pursuant to the Amended Credit Agreement, bear interest at their respective interbank offered rate (i.e. Euribor) or 0.00% (higher of the two rates) plus a margin of between 1.10% and 1.70% . The Company paid fees and expenses of $529 in the fourth quarter of 2018 in conjunction with executing the Fifth Amendment; 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. Borrowings and availability under the Amended Credit Agreement were $752,035 and $247,965 , respectively, at September 30, 2019 and $831,016 and $168,984 , respectively, at December 31, 2018 . The average interest rate on these borrowings was 1.92% and 1.99% on September 30, 2019 and December 31, 2018 , respectively. Borrowings included Euro-denominated borrowings of 504,690 Euros ( $552,535 ) at September 30, 2019 and 470,350 Euros ( $538,316 ) at December 31, 2018 . 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 the first quarter of 2019, and the second quarter of 2018, the Company borrowed 44,100 Euros ( $49,506 ) and 179,000 Euros ( $208,589 ), respectively, under the Amended Credit Facility through an international subsidiary. The proceeds were distributed to the parent company and subsequently used to pay down U.S. borrowings under the Amended Credit Agreement. 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 is 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 ("Total Debt Ratio") and a ratio of Consolidated EBITDA to Consolidated Cash Interest Expense, as defined, of not less than 4.25 , in each case 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. A permitted acquisition is defined as an acquisition exceeding $150,000 , for which the acquisition of Gimatic qualifies. With the completion of a permitted acquisition, the Senior Debt Ratio cannot exceed 3.50 times and the Total Debt Ratio cannot exceed 4.25 times. The increased ratios are allowed for a period of four fiscal quarters subsequent to the close of the permitted acquisition. In addition, the Company has available approximately $86,000 in uncommitted short-term bank credit lines ("Credit Lines") and overdraft facilities. The Credit Lines are accessed locally and are available primarily within the U.S., Europe and Asia. The Credit Lines are subject to the applicable borrowing rates within each respective country and vary between jurisdictions (i.e. LIBOR, Euribor, etc.). Under the Credit Lines, $18,000 was borrowed at September 30, 2019 at an interest rate of 2.74% and $2,041 was borrowed at December 31, 2018 at an average interest rate of 0.17% . The Company had also borrowed $520 and $96 under the overdraft facilities at September 30, 2019 and December 31, 2018 , 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 finance leases under which $5,323 and $10,216 was outstanding at September 30, 2019 and December 31, 2018 , respectively. The fair value of the finance 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 September 30, 2019 and December 31, 2018 , the Company also had other foreign bank borrowings of $448 and $647

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2019
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. The Company entered into an interest rate swap agreement (the "Swap") on April 28, 2017, with one bank, which 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 and is accounted for as a cash flow hedge. 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, Mexican peso, Hong Kong dollar 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 cash flow hedges are recorded to accumulated other non-owner changes to equity. 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. 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 nine months of 2019 and 2018 , as presented on the Consolidated Statements of Cash Flows, include $12,593 and $3,291 , 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: Derivative Assets Derivative Liabilities Fair Value Fair Value Balance Sheet Location September 30, 2019 December 31, 2018 Balance Sheet Location September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Interest rate contracts Other assets $ — $ 1,412 Other liabilities $ (1,011 ) $ — Foreign exchange contracts Prepaid expenses and other current assets — — Accrued liabilities (402 ) (258 ) Total derivatives designated as hedging instruments — 1,412 (1,413 ) (258 ) Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 25 1,105 Accrued liabilities (227 ) (90 ) Total derivatives not designated as hedging instruments 25 1,105 (227 ) (90 ) Total derivatives $ 25 $ 2,517 $ (1,640 ) $ (348 ) The following table sets forth the effect of hedge accounting on accumulated other comprehensive (loss) income for the three and nine month periods ended September 30, 2019 and 2018 : Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Derivatives in Hedging Relationships 2019 2018 2019 2018 2019 2018 2019 2018 Derivatives in Cash Flow Hedging Relationships: Interest rate contracts $ (178 ) $ 378 $ (1,846 ) $ 2,064 Interest expense $ 86 $ 40 $ 367 $ (374 ) Foreign exchange contracts 10 697 (114 ) (178 ) Net sales (199 ) (326 ) (788 ) (859 ) Total $ (168 ) $ 1,075 $ (1,960 ) $ 1,886 $ (113 ) $ (286 ) $ (421 ) $ (1,233 ) The following table sets forth the effect of hedge accounting on the consolidated statements of income for the three -month periods ended September 30, 2019 and 2018 : Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships Three Months Ended 2019 2018 Net sales Interest expense Net sales Interest expense Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded $ 372,587 $ 5,344 $ 369,797 $ 4,054 The effects of hedging: Gain (Loss) on cash flow hedging relationships Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income 86 40 Foreign exchange contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (199 ) (326 ) The following table sets forth the effect of hedge accounting on the consolidated statements of income for the nine -month periods ended September 30, 2019 and 2018 : Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships Nine Months Ended 2019 2018 Net sales Interest expense Net sales Interest expense Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded $ 1,120,947 $ 15,856 $ 1,111,772 $ 12,078 The effects of hedging: Gain (Loss) on cash flow hedging relationships Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income 367 (374 ) Foreign exchange contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (788 ) (859 ) The following table sets forth the effect of derivatives not designated as hedging instruments on the consolidated statements of income for the three and nine -month periods ended September 30, 2019 and 2018 : Location of Gain (Loss) Recognized in Income on Derivative Amount of Gain (Loss) Recognized in Income on Derivative (A) Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments 2019 2018 2019 2018 Foreign exchange contracts Other expense (income), net $ (11,662 ) $ 1,380 $ (15,182 ) $ (6,218 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
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) September 30, 2019 Asset derivatives $ 25 $ — $ 25 $ — Liability derivatives (1,640 ) — (1,640 ) — Bank acceptances 16,044 — 16,044 — Rabbi trust assets 2,725 2,725 — — Total $ 17,154 $ 2,725 $ 14,429 $ — December 31, 2018 Asset derivatives $ 2,517 $ — $ 2,517 $ — Liability derivatives (348 ) — (348 ) — Bank acceptances 17,698 — 17,698 — Rabbi trust assets 2,457 2,457 — — Total $ 22,324 $ 2,457 $ 19,867 $ — 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	9 Months Ended
	Sep. 30, 2019
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 Nine Months Ended September 30, Pensions 2019 2018 2019 2018 Service cost $ 1,356 $ 1,491 $ 4,064 $ 4,479 Interest cost 4,539 4,336 13,647 13,028 Expected return on plan assets (7,389 ) (7,615 ) (21,816 ) (22,392 ) Amortization of prior service cost 101 141 302 422 Amortization of actuarial losses 2,215 2,879 6,658 8,719 Settlement loss 93 — 340 — Net periodic benefit cost $ 915 $ 1,232 $ 3,195 $ 4,256 Three Months Ended September 30, Nine Months Ended September 30, Other Postretirement Benefits 2019 2018 2019 2018 Service cost $ 18 $ 22 $ 53 $ 64 Interest cost 335 338 1,008 1,019 Amortization of prior service cost 6 5 19 15 Amortization of actuarial losses 3 135 10 421 Net periodic benefit cost $ 362 $ 500 $ 1,090 $ 1,519 The service cost component of net periodic benefit cost is included within cost of sales and selling and administrative expenses. 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. In July 2019, the Company contributed $15,000 of discretionary contributions to its U.S Qualified pension plans. The Company currently does not plan to make any additional discretionary contributions to its U.S. Qualified pension plans, however approximately $5,000

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the first nine months of 2019 was 23.4% compared with 21.5% in the first nine months of 2018 and 19.9% for the full year 2018 . The increase in the first nine months of 2019 effective tax rate from the full year 2018 rate is primarily due to the absence of adjustments to certain international valuation reserves and final adjustments resulting from the impact of the Tax Cuts and Jobs Act (the “Act”). The Aerospace and Industrial Segments have a number of multi-year tax holidays in both Singapore and China. These holidays are subject to the Company meeting certain commitments in the respective jurisdictions.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company maintains leases of certain manufacturing, distribution and assembly facilities, office space, land, machinery and equipment. Leases generally have remaining terms of one year to ten years . Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets. The Company recognizes lease expense for minimum lease payments on a straight line basis over the term of the lease. Certain leases include options to renew or terminate. Renewal options are exercisable per the discretion of the Company and vary based on the nature of each lease, with renewal periods generally ranging from one year to five years . The term of the lease includes renewal periods only if the Company is reasonably certain that it will exercise the renewal option. When determining if a renewal option is reasonably certain of being exercised, the Company considers several factors, including but not limited to, the cost of moving to another location, the cost of disruption to operations, whether the purpose or location of the leased asset is unique and the contractual terms associated with extending the lease. Certain leases provide the option to purchase the leased property and are therefore evaluated for finance lease consideration. Right-of-use ("ROU") assets and lease liabilities related to finance leases were not material as of September 30, 2019 . The depreciable life of leased assets are limited by the expected term of the lease, unless there is a transfer of title or purchase option and the Company believes it is reasonably certain of exercise. Lease agreements generally do not contain any material residual value guarantees or materially restrictive covenants and the Company does not sublease to any third parties. The Company does not have any material leases that have been signed but not commenced. Contracts are evaluated at inception to determine whether they contain a lease, where the Company obtains the right to control an identified asset. The following table sets forth the classification of ROU assets and lease liabilities on the Consolidated Balance Sheets: Operating Leases Classification September 30, 2019 Leased Assets ROU assets Other assets $ 31,804 Lease Liabilities Current lease liability Accrued liabilities 10,525 Long term lease liability Other liabilities 22,037 $ 32,562 Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The operating lease ROU assets represent the lease liability, plus any lease payments made at or before the commencement date, less any lease incentives received. The Company's real estate leases, which are comprised primarily of manufacturing, distribution and assembly facilities, represent a majority of the lease liability. A significant portion of lease payments are fixed, although an immaterial portion of payments are variable in nature. Variable lease payments vary based on changes in facts and circumstances related to the use of the ROU and are recorded as incurred. The Company uses an incremental borrowing rate based on rates available at commencement in determining the present value of future payments. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component. The Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities. Operating lease costs during the three and nine months ended September 30, 2019 were $4,095 and $11,927 , respectively, and were included within cost of sales and selling and administrative expenses. Operating lease costs include short-term and variable leases costs, which were immaterial during the period. Future minimum lease payments under non-cancellable leases as of September 30, 2019 were as follows: Operating Leases 2019 $ 3,238 2020 10,926 2021 8,389 2022 4,155 2023 2,771 After 2023 7,894 Total lease payments $ 37,373 Less: Interest 4,811 Present value of lease payments $ 32,562 Minimum rental commitments under non-cancellable leases as of December 31, 2018 for years 2019 through 2023 were $11,931 , $8,322 , $5,888 , $2,898 and $2,064 , respectively, and $7,659 thereafter. Lease Term and Discount Rate September 30, 2019 Weighted-average remaining lease term (years) Operating leases 6.0 Weighted-average discount rate Operating leases 3.95 % Other Information Nine months ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 9,967 Leased assets obtained in exchange for new operating lease liabilities $ 9,692

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component	9 Months Ended
	Sep. 30, 2019
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 set forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the nine month periods ended September 30, 2019 and 2018 : Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2019 $ 834 $ (138,690 ) $ (52,644 ) $ (190,500 ) Other comprehensive (loss) income before reclassifications (2,300 ) (18 ) (44,513 ) (46,831 ) Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 340 5,666 — 6,006 Net current-period other comprehensive (loss) income (1,960 ) 5,648 (44,513 ) (40,825 ) September 30, 2019 $ (1,126 ) $ (133,042 ) $ (97,157 ) $ (231,325 ) 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 (loss) before reclassifications 930 1,076 (36,670 ) (34,664 ) Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 956 7,306 — 8,262 Net current-period other comprehensive income (loss) 1,886 8,382 (36,670 ) (26,402 ) Amounts reclassified from accumulated other comprehensive income to retained earnings (A) — (19,331 ) — (19,331 ) September 30, 2018 $ 1,958 $ (114,793 ) $ (39,297 ) $ (152,132 ) (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 3. The following tables set forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three and nine month periods ended September 30, 2019 and 2018 : 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 September 30, 2019 Three months ended September 30, 2018 Gains and losses on cash flow hedges Interest rate contracts $ 86 $ 40 Interest expense Foreign exchange contracts (199 ) (326 ) Net sales (113 ) (286 ) Total before tax 19 62 Tax benefit (94 ) (224 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs $ (107 ) $ (146 ) (A) Amortization of actuarial losses (2,218 ) (3,014 ) (A) Settlement loss (93 ) — (A) (2,418 ) (3,160 ) Total before tax 554 750 Tax benefit (1,864 ) (2,410 ) Net of tax Total reclassifications in the period $ (1,958 ) $ (2,634 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12. 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 Nine months ended September 30, 2019 Nine months ended September 30, 2018 Gains and losses on cash flow hedges Interest rate contracts $ 367 $ (374 ) Interest expense Foreign exchange contracts (788 ) (859 ) Net sales (421 ) (1,233 ) Total before tax 81 277 Tax benefit (340 ) (956 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs $ (321 ) $ (437 ) (A) Amortization of actuarial losses (6,668 ) (9,140 ) (A) Settlement loss (340 ) — (A) (7,329 ) (9,577 ) Total before tax 1,663 2,271 Tax benefit (5,666 ) (7,306 ) Net of tax Total reclassifications in the period $ (6,006 ) $ (8,262 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12.

Information on Business Segment

Information on Business Segments	9 Months Ended
	Sep. 30, 2019
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 provider 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, automation, personal care, packaging, electronics, and medical devices. 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 business designs and manufactures 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. The Force & Motion Control business provides innovative cost effective force and motion control solutions for a wide range of metal forming and other industrial markets. The Automation business designs and develops robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components for intelligent robotic handling solutions and industrial automation applications. Industrial's Engineered Components business manufactures and supplies 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 manufacturer of complex fabricated and precision machined components and assemblies for turbine engines, nacelles and structures for both commercial and military aircraft. The Aerospace aftermarket business provides aircraft engine component MRO services, including services performed under our Component Repair Programs (“CRPs”), for many of the world’s major turbine engine manufacturers, commercial airlines and the military. The Aerospace aftermarket activities also include the manufacture and delivery of aerospace aftermarket spare parts, including Revenue Sharing Programs (“RSPs”) under which the Company receives an exclusive right to supply designated aftermarket parts over the life of specific aircraft engine programs. The following tables set forth information about the Company's operations by its two reportable segments: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net sales Industrial $ 231,688 $ 244,133 $ 707,594 $ 739,677 Aerospace 140,899 125,665 413,353 372,102 Intersegment sales — (1 ) — (7 ) Total net sales $ 372,587 $ 369,797 $ 1,120,947 $ 1,111,772 Operating profit Industrial $ 34,836 $ 33,329 $ 83,785 $ 104,004 Aerospace 32,749 25,734 91,407 75,571 Total operating profit 67,585 59,063 175,192 179,575 Interest expense 5,344 4,054 15,856 12,078 Other expense (income), net 2,524 2,447 6,043 5,157 Income before income taxes $ 59,717 $ 52,562 $ 153,293 $ 162,340 September 30, 2019 December 31, 2018 Assets Industrial $ 1,863,432 $ 1,962,362 Aerospace 714,189 692,584 Other (A) 130,293 154,024 Total assets $ 2,707,914 $ 2,808,970

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 and December 31, 2018 . Litigation The Company is subject to litigation from time to time in the ordinary course of business and various other suits, proceedings and claims are pending involving the Company and its subsidiaries. The Company records a loss contingency liability when a loss is considered probable and the amount can be reasonably estimated. While it is not possible to determine the ultimate disposition of each of these proceedings and whether they will be resolved consistent with the Company's beliefs, the Company expects that the outcome of such proceedings, individually or in the aggregate, will not have a material adverse effect on financial condition or results of operations.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Pro Forma Information	The Pro Forma Results do not include the effects of any synergies or cost reduction initiatives related to the acquisitions. (Unaudited Pro Forma) Three Months Ended Nine Months Ended Net Sales $ 384,266 $ 1,166,087 Net Income 40,517 127,731

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Capitalized Contract Cost	September 30, 2019 December 31, 2018 Tooling $ 6,231 $ 6,155 Design costs 2,441 2,285 Other — 5 $ 8,672 $ 8,445
Disaggregation of Revenue	Three Months Ended Nine Months Ended Industrial Aerospace Total Company Industrial Aerospace Total Company Product and Services Engineered Components Products $ 63,069 $ — $ 63,069 $ 198,291 $ — $ 198,291 Molding Solutions Products 110,546 — 110,546 323,242 — 323,242 Force & Motion Control Products 45,676 — 45,676 144,746 — 144,746 Automation Products 12,397 — 12,397 41,315 — 41,315 Aerospace Original Equipment Manufacturer Products — 92,885 92,885 — 274,708 274,708 Aerospace Aftermarket Product and Services — 48,014 48,014 — 138,645 138,645 $ 231,688 $ 140,899 $ 372,587 $ 707,594 $ 413,353 $ 1,120,947 Geographic Regions (A) Americas $ 93,086 $ 100,949 $ 194,035 $ 278,520 $ 299,220 $ 577,740 Europe 77,308 25,534 102,842 261,388 73,248 334,636 Asia 60,433 13,444 73,877 164,844 38,051 202,895 Other 861 972 1,833 2,842 2,834 5,676 $ 231,688 $ 140,899 $ 372,587 $ 707,594 $ 413,353 $ 1,120,947 Three Months Ended Nine Months Ended Industrial Aerospace Total Company Industrial Aerospace Total Company Product and Services Engineered Components Products $ 69,994 $ — $ 69,994 $ 220,448 $ — $ 220,448 Molding Solutions Products 124,887 — 124,887 369,923 — 369,923 Force & Motion Control Products 49,251 — 49,251 149,299 — 149,299 Automation Products — — — — — — Aerospace Original Equipment Manufacturer Products — 84,741 84,741 — 249,963 249,963 Aerospace Aftermarket Product and Services — 40,924 40,924 — 122,139 122,139 $ 244,132 $ 125,665 $ 369,797 $ 739,670 $ 372,102 $ 1,111,772 Geographic Regions (A) Americas $ 98,948 $ 88,260 $ 187,208 $ 288,265 $ 266,698 $ 554,963 Europe 86,083 25,591 111,674 273,214 72,991 346,205 Asia 58,151 10,911 69,062 175,533 29,671 205,204 Other 950 903 1,853 2,658 2,742 5,400 $ 244,132 $ 125,665 $ 369,797 $ 739,670 $ 372,102 $ 1,111,772 (A) Sales by geographic region are based on the location to which the product is shipped.
Contract with Customer, Asset and Liability	Net contract liabilities consisted of the following: September 30, 2019 December 31, 2018 $ Change % Change Unbilled receivables (contract assets) $ 20,555 $ 11,844 $ 8,711 74 % Contract liabilities (58,031 ) (57,522 ) (509 ) 1 % Net contract liabilities $ (37,476 ) $ (45,678 ) $ 8,202 (18 )% Contract liabilities balances at September 30, 2019 and December 31, 2018 include $14,861 and $15,348

Stockholders Equity (Tables)

Stockholders Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of changes in equity	A schedule of consolidated changes in equity for the nine months ended September 30, 2019 is as follows (shares in thousands): Common Common Additional Treasury Treasury Retained Accumulated Total December 31, 2018 63,367 $ 634 $ 470,818 12,034 $ (441,668 ) $ 1,363,772 $ (190,500 ) $ 1,203,056 Comprehensive income — — — — — 33,992 (8,178 ) 25,814 Dividends declared ($0.16 per share) — — — — — (8,217 ) — (8,217 ) Employee stock plans 51 — 4,039 1 (80 ) (109 ) — 3,850 March 31, 2019 63,418 $ 634 $ 474,857 12,035 $ (441,748 ) $ 1,389,438 $ (198,678 ) $ 1,224,503 Comprehensive income — — — — — 37,616 4,698 42,314 Dividends declared ($0.16 per share) — — — — — (8,086 ) — (8,086 ) Common stock repurchases — — — 900 (50,347 ) — — (50,347 ) Employee stock plans 18 — 3,285 2 (106 ) (178 ) — 3,001 June 30, 2019 63,436 $ 634 $ 478,142 12,937 $ (492,201 ) $ 1,418,790 $ (193,980 ) $ 1,211,385 Comprehensive income — — — — — 45,769 (37,345 ) 8,424 Dividends declared ($0.16 per share) — — — — — (8,111 ) — (8,111 ) Employee stock plans 321 4 4,713 112 (5,727 ) 10 — (1,000 ) September 30, 2019 63,757 $ 638 $ 482,855 13,049 $ (497,928 ) $ 1,456,458 $ (231,325 ) $ 1,210,698 A schedule of consolidated changes in equity for the nine months ended September 30, 2018 is as follows (shares in thousands): Common Common Additional Treasury Treasury Retained Accumulated Total December 31, 2017 63,034 $ 630 $ 457,365 9,656 $ (297,998 ) $ 1,206,723 $ (106,399 ) $ 1,260,321 Comprehensive income — — — — — 38,818 30,513 69,331 Dividends declared ($0.14 per share) — — — — — (7,453 ) — (7,453 ) Common stock repurchases — — — 533 (33,541 ) — — (33,541 ) Reclassification pursuant to — — — — — 19,331 (19,331 ) — Cumulative effect of change in accounting guidance related to Revenue (Note 3) — — — — — 4,295 — 4,295 Employee stock plans 20 1 2,874 1 (68 ) (174 ) — 2,633 March 31, 2018 63,054 $ 631 $ 460,239 10,190 $ (331,607 ) $ 1,261,540 $ (95,217 ) $ 1,295,586 Comprehensive income — — — — — 49,429 (61,920 ) (12,491 ) Dividends declared ($0.16 per share) — — — — — (8,342 ) — (8,342 ) Common stock repurchases — — — 1,422 (84,574 ) — — (84,574 ) Employee stock plans 13 — 3,078 2 (107 ) 13 — 2,984 June 30, 2018 63,067 $ 631 $ 463,317 11,614 $ (416,288 ) $ 1,302,640 $ (157,137 ) $ 1,193,163 Comprehensive income — — — — — 39,109 5,005 44,114 Dividends declared ($0.16 per share) — — — — — (8,201 ) — (8,201 ) Common stock repurchases — — — 337 (20,160 ) — — (20,160 ) Employee stock plans 226 2 3,293 79 (4,974 ) (332 ) — (2,011 ) September 30, 2018 63,293 $ 633 $ 466,610 12,030 $ (441,422 ) $ 1,333,216 $ (152,132 ) $ 1,206,905

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories consisted of: September 30, 2019 December 31, 2018 Finished goods $ 78,089 $ 87,779 Work-in-process 97,631 98,426 Raw material and supplies 78,758 79,785 $ 254,478 $ 265,990

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 : Industrial Aerospace Total Company January 1, 2019 $ 924,738 $ 30,786 $ 955,524 Acquisition related 681 — 681 Foreign currency translation (33,597 ) — (33,597 ) September 30, 2019 $ 891,822 $ 30,786 $ 922,608
Schedule of Intangible Assets	Other intangible assets consisted of: September 30, 2019 December 31, 2018 Range of Life -Years Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Revenue Sharing Programs (RSPs) Up to 30 $ 299,500 $ (132,410 ) $ 299,500 $ (121,957 ) Component Repair Programs (CRPs) Up to 30 111,839 (25,918 ) 111,839 (21,895 ) Customer relationships 10-16 338,366 (94,668 ) 338,366 (79,439 ) Patents and technology 4-10 125,852 (68,637 ) 125,852 (59,205 ) Trademarks/trade names 10-30 11,950 (11,021 ) 11,950 (10,731 ) Other Up to 15 7,296 (3,898 ) 7,296 (3,551 ) 894,803 (336,552 ) 894,803 (296,778 ) Unamortized intangible assets: Trade names 55,670 — 55,670 — Foreign currency translation (30,593 ) — (17,157 ) — Other intangible assets $ 919,880 $ (336,552 ) $ 933,316 $ (296,778 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt and notes and overdrafts payable at September 30, 2019 and December 31, 2018 consisted of: September 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Revolving credit agreement $ 752,035 $ 771,523 $ 831,016 $ 828,800 3.97% Senior Notes 100,000 105,793 100,000 100,185 Borrowings under lines of credit and overdrafts 18,520 18,520 2,137 2,137 Finance leases 5,323 5,556 10,216 10,503 Other foreign bank borrowings 448 452 647 651 876,326 901,844 944,016 942,276 Less current maturities (20,244 ) (7,659 ) Long-term debt $ 856,082 $ 936,357

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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: Derivative Assets Derivative Liabilities Fair Value Fair Value Balance Sheet Location September 30, 2019 December 31, 2018 Balance Sheet Location September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Interest rate contracts Other assets $ — $ 1,412 Other liabilities $ (1,011 ) $ — Foreign exchange contracts Prepaid expenses and other current assets — — Accrued liabilities (402 ) (258 ) Total derivatives designated as hedging instruments — 1,412 (1,413 ) (258 ) Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets 25 1,105 Accrued liabilities (227 ) (90 ) Total derivatives not designated as hedging instruments 25 1,105 (227 ) (90 ) Total derivatives $ 25 $ 2,517 $ (1,640 ) $ (348 )
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	three and nine month periods ended September 30, 2019 and 2018 : Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Derivatives in Hedging Relationships 2019 2018 2019 2018 2019 2018 2019 2018 Derivatives in Cash Flow Hedging Relationships: Interest rate contracts $ (178 ) $ 378 $ (1,846 ) $ 2,064 Interest expense $ 86 $ 40 $ 367 $ (374 ) Foreign exchange contracts 10 697 (114 ) (178 ) Net sales (199 ) (326 ) (788 ) (859 ) Total $ (168 ) $ 1,075 $ (1,960 ) $ 1,886 $ (113 ) $ (286 ) $ (421 ) $ (1,233 )
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table sets forth the effect of hedge accounting on the consolidated statements of income for the three -month periods ended September 30, 2019 and 2018 : Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships Three Months Ended 2019 2018 Net sales Interest expense Net sales Interest expense Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded $ 372,587 $ 5,344 $ 369,797 $ 4,054 The effects of hedging: Gain (Loss) on cash flow hedging relationships Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income 86 40 Foreign exchange contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (199 ) (326 ) The following table sets forth the effect of hedge accounting on the consolidated statements of income for the nine -month periods ended September 30, 2019 and 2018 : Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships Nine Months Ended 2019 2018 Net sales Interest expense Net sales Interest expense Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded $ 1,120,947 $ 15,856 $ 1,111,772 $ 12,078 The effects of hedging: Gain (Loss) on cash flow hedging relationships Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income 367 (374 ) Foreign exchange contracts Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (788 ) (859 )
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table sets forth the effect of derivatives not designated as hedging instruments on the consolidated statements of income for the three and nine -month periods ended September 30, 2019 and 2018 : Location of Gain (Loss) Recognized in Income on Derivative Amount of Gain (Loss) Recognized in Income on Derivative (A) Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments 2019 2018 2019 2018 Foreign exchange contracts Other expense (income), net $ (11,662 ) $ 1,380 $ (15,182 ) $ (6,218 ) (A) 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
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) September 30, 2019 Asset derivatives $ 25 $ — $ 25 $ — Liability derivatives (1,640 ) — (1,640 ) — Bank acceptances 16,044 — 16,044 — Rabbi trust assets 2,725 2,725 — — Total $ 17,154 $ 2,725 $ 14,429 $ — December 31, 2018 Asset derivatives $ 2,517 $ — $ 2,517 $ — Liability derivatives (348 ) — (348 ) — Bank acceptances 17,698 — 17,698 — Rabbi trust assets 2,457 2,457 — — Total $ 22,324 $ 2,457 $ 19,867 $ —

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	Pension and other postretirement benefits expenses consisted of the following: Three Months Ended Nine Months Ended September 30, Pensions 2019 2018 2019 2018 Service cost $ 1,356 $ 1,491 $ 4,064 $ 4,479 Interest cost 4,539 4,336 13,647 13,028 Expected return on plan assets (7,389 ) (7,615 ) (21,816 ) (22,392 ) Amortization of prior service cost 101 141 302 422 Amortization of actuarial losses 2,215 2,879 6,658 8,719 Settlement loss 93 — 340 — Net periodic benefit cost $ 915 $ 1,232 $ 3,195 $ 4,256 Three Months Ended September 30, Nine Months Ended September 30, Other Postretirement Benefits 2019 2018 2019 2018 Service cost $ 18 $ 22 $ 53 $ 64 Interest cost 335 338 1,008 1,019 Amortization of prior service cost 6 5 19 15 Amortization of actuarial losses 3 135 10 421 Net periodic benefit cost $ 362 $ 500 $ 1,090 $ 1,519

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
ROU assets and lease liabilities	The following table sets forth the classification of ROU assets and lease liabilities on the Consolidated Balance Sheets: Operating Leases Classification September 30, 2019 Leased Assets ROU assets Other assets $ 31,804 Lease Liabilities Current lease liability Accrued liabilities 10,525 Long term lease liability Other liabilities 22,037 $ 32,562
Future minimum lease payments	Future minimum lease payments under non-cancellable leases as of September 30, 2019 were as follows: Operating Leases 2019 $ 3,238 2020 10,926 2021 8,389 2022 4,155 2023 2,771 After 2023 7,894 Total lease payments $ 37,373 Less: Interest 4,811 Present value of lease payments $ 32,562
Lease Term and Discount Rate	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:81%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Lease Term and Discount Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">September 30, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease term (years)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">         Operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.0</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average discount rate</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">         Operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.95</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div></div></div>
Other Information	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:81%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Other Information</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nine months ended<br clear="none"/>September 30, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash paid for amounts included in the measurement of lease liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">         Operating cash flows from operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,967</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leased assets obtained in exchange for new operating lease liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,692</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables)	9 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) By Component	The following tables set forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the nine month periods ended September 30, 2019 and 2018 : Gains and Losses on Cash Flow Hedges Pension and Other Postretirement Benefit Items Foreign Currency Items Total January 1, 2019 $ 834 $ (138,690 ) $ (52,644 ) $ (190,500 ) Other comprehensive (loss) income before reclassifications (2,300 ) (18 ) (44,513 ) (46,831 ) Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 340 5,666 — 6,006 Net current-period other comprehensive (loss) income (1,960 ) 5,648 (44,513 ) (40,825 ) September 30, 2019 $ (1,126 ) $ (133,042 ) $ (97,157 ) $ (231,325 ) 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 (loss) before reclassifications 930 1,076 (36,670 ) (34,664 ) Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income 956 7,306 — 8,262 Net current-period other comprehensive income (loss) 1,886 8,382 (36,670 ) (26,402 ) Amounts reclassified from accumulated other comprehensive income to retained earnings (A) — (19,331 ) — (19,331 ) September 30, 2018 $ 1,958 $ (114,793 ) $ (39,297 ) $ (152,132 ) (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 3.
Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) to the Consolidated Statements of Income	The following tables set forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three and nine month periods ended September 30, 2019 and 2018 : 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 September 30, 2019 Three months ended September 30, 2018 Gains and losses on cash flow hedges Interest rate contracts $ 86 $ 40 Interest expense Foreign exchange contracts (199 ) (326 ) Net sales (113 ) (286 ) Total before tax 19 62 Tax benefit (94 ) (224 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs $ (107 ) $ (146 ) (A) Amortization of actuarial losses (2,218 ) (3,014 ) (A) Settlement loss (93 ) — (A) (2,418 ) (3,160 ) Total before tax 554 750 Tax benefit (1,864 ) (2,410 ) Net of tax Total reclassifications in the period $ (1,958 ) $ (2,634 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12. 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 Nine months ended September 30, 2019 Nine months ended September 30, 2018 Gains and losses on cash flow hedges Interest rate contracts $ 367 $ (374 ) Interest expense Foreign exchange contracts (788 ) (859 ) Net sales (421 ) (1,233 ) Total before tax 81 277 Tax benefit (340 ) (956 ) Net of tax Pension and other postretirement benefit items Amortization of prior-service costs $ (321 ) $ (437 ) (A) Amortization of actuarial losses (6,668 ) (9,140 ) (A) Settlement loss (340 ) — (A) (7,329 ) (9,577 ) Total before tax 1,663 2,271 Tax benefit (5,666 ) (7,306 ) Net of tax Total reclassifications in the period $ (6,006 ) $ (8,262 ) (A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12.

Information on Business Segme_2

Information on Business Segments (Tables)	9 Months Ended
	Sep. 30, 2019
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 Nine Months Ended 2019 2018 2019 2018 Net sales Industrial $ 231,688 $ 244,133 $ 707,594 $ 739,677 Aerospace 140,899 125,665 413,353 372,102 Intersegment sales — (1 ) — (7 ) Total net sales $ 372,587 $ 369,797 $ 1,120,947 $ 1,111,772 Operating profit Industrial $ 34,836 $ 33,329 $ 83,785 $ 104,004 Aerospace 32,749 25,734 91,407 75,571 Total operating profit 67,585 59,063 175,192 179,575 Interest expense 5,344 4,054 15,856 12,078 Other expense (income), net 2,524 2,447 6,043 5,157 Income before income taxes $ 59,717 $ 52,562 $ 153,293 $ 162,340 September 30, 2019 December 31, 2018 Assets Industrial $ 1,863,432 $ 1,962,362 Aerospace 714,189 692,584 Other (A) 130,293 154,024 Total assets $ 2,707,914 $ 2,808,970 (A) "Other" assets include corporate-controlled assets, the majority of which are cash and cash equivalents.

Acquisitions (Details)

Acquisitions (Details) - Gimatic and IGS [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Net Sales	$ 384,266	$ 1,166,087
Net Income	$ 40,517	$ 127,731

Recent Accounting Standards 23

Recent Accounting Standards 23 (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
ROU assets	$ 31,804	$ 31,724
Lease liability	32,562	$ 32,579
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,456,458		$ 1,363,772
Accounting Standards Update 2018-02 [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				$ 19,331

Revenue - Revenue by Category (

Revenue - Revenue by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 372,587	$ 369,797	$ 1,120,947	$ 1,111,772
Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	231,688	244,132	707,594	739,670
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	140,899	125,665	413,353	372,102
Americas [Member]
Disaggregation of Revenue [Line Items]
Net sales	194,035	187,208	577,740	554,963
Americas [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	93,086	98,948	278,520	288,265
Americas [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	100,949	88,260	299,220	266,698
Europe [Member]
Disaggregation of Revenue [Line Items]
Net sales	102,842	111,674	334,636	346,205
Europe [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	77,308	86,083	261,388	273,214
Europe [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	25,534	25,591	73,248	72,991
Asia [Member]
Disaggregation of Revenue [Line Items]
Net sales	73,877	69,062	202,895	205,204
Asia [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	60,433	58,151	164,844	175,533
Asia [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	13,444	10,911	38,051	29,671
Other Geographic Market [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,833	1,853	5,676	5,400
Other Geographic Market [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	861	950	2,842	2,658
Other Geographic Market [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	972	903	2,834	2,742
Engineered Components Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	63,069	69,994	198,291	220,448
Engineered Components Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	63,069	69,994	198,291	220,448
Engineered Components Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Molding Solutions Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	110,546	49,251	323,242	149,299
Molding Solutions Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	110,546	49,251	323,242	149,299
Molding Solutions Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Force & Motion Control Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,676	124,887	144,746	369,923
Force & Motion Control Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,676	124,887	144,746	369,923
Force & Motion Control Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Automation Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,397	0	41,315	0
Automation Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,397	0	41,315	0
Automation Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Aerospace Original Equipment Manufacturing Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	92,885	84,741	274,708	249,963
Aerospace Original Equipment Manufacturing Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Aerospace Original Equipment Manufacturing Products [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	92,885	84,741	274,708	249,963
Aerospace Aftermarket Products and Services [Member]
Disaggregation of Revenue [Line Items]
Net sales	48,014	40,924	138,645	122,139
Aerospace Aftermarket Products and Services [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Aerospace Aftermarket Products and Services [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 48,014	$ 40,924	$ 138,645	$ 122,139
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	90.00%		90.00%
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	10.00%		10.00%

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Unbilled receivables (contract assets)	$ 20,555	$ 20,555	$ 11,844
Unbilled receivables (contract assets), $ Change		$ 8,711
Unbilled receivables (contract assets), % Change		74.00%
Contract liabilities	(58,031)	$ (58,031)	(57,522)
Contract liabilities, $ Change		$ (509)
Contract liabilities, % Change		1.00%
Net contract liabilities	(37,476)	$ (37,476)	(45,678)
Net contract liabilities, $ Change		$ 8,202
Net contract liabilities, % Change		(18.00%)
Customer advances	$ 14,861	$ 14,861	$ 15,348
Revenue recognized	15.00%	70.00%

Revenue - Contract Costs (Detai

Revenue - Contract Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Capitalized Contract Cost [Line Items]
Amortization of capitalized costs	$ 3,506	$ 3,606	$ 10,614	$ 11,548
Capitalized costs, net	8,672		8,672		$ 8,445
Tooling [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	6,231		6,231		6,155
Design Costs [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	2,441		2,441		2,285
Other Capitalized Contract Cost [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	$ 0		$ 0		$ 5

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 226,202
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
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]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	2 years
Remaining performance obligations, percentage	25.00%

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ (1,211,385)	$ (1,224,503)	$ (1,203,056)	$ (1,193,163)	$ (1,295,586)	$ (1,260,321)	$ (1,203,056)	$ (1,260,321)
Comprehensive income	8,424	42,314	25,814	44,114	(12,491)	69,331	76,552	100,955
Dividends declared	$ (8,111)	$ (8,086)	$ (8,217)	$ (8,201)	$ (8,342)	$ (7,453)
Dividends declared (in dollars per share)	$ 0.16	$ 0.16	$ 0.16	$ 0.16	$ 0.16	$ 0.14
Common stock repurchases		$ (50,347)		$ (20,160)	$ (84,574)	$ (33,541)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)						0
Cumulative effect of change in accounting guidance related to Revenue (Note 3)						4,295
Employee stock plans	$ 1,000	(3,001)	$ (3,850)	2,011	(2,984)	(2,633)
Balance	(1,210,698)	(1,211,385)	(1,224,503)	(1,206,905)	(1,193,163)	(1,295,586)	(1,210,698)	(1,206,905)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ (634)	$ (634)	$ (634)	$ (631)	$ (631)	$ (630)	$ (634)	$ (630)
Balance (in shares)	63,436	63,418	63,367	63,067	63,054	63,034	63,367	63,034
Employee stock plans				$ (2)	$ 0	$ (1)
Employee stock plans (in shares)	321	18	51	226	13	20
Balance	$ (638)	$ (634)	$ (634)	$ (633)	$ (631)	$ (631)	$ (638)	$ (633)
Balance (in shares)	63,757	63,436	63,418	63,293	63,067	63,054	63,757	63,293
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ (478,142)	$ (474,857)	$ (470,818)	$ (463,317)	$ (460,239)	$ (457,365)	$ (470,818)	$ (457,365)
Employee stock plans	(4,713)	(3,285)	(4,039)	(3,293)	(3,078)	(2,874)
Balance	(482,855)	(478,142)	(474,857)	(466,610)	(463,317)	(460,239)	(482,855)	(466,610)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ (492,201)	$ (441,748)	$ (441,668)	$ (416,288)	$ (331,607)	$ (297,998)	$ (441,668)	$ (297,998)
Balance (in shares)	12,937	12,035	12,034	11,614	10,190	9,656	12,034	9,656
Common stock repurchases		$ (50,347)		$ (20,160)	$ (84,574)	$ (33,541)
Common stock repurchases (in shares)		900		337	1,422	533
Employee stock plans	$ (5,727)	$ (106)	$ (80)	$ (4,974)	$ (107)	$ (68)
Employee stock plans (in shares)	112	2	1	79	2	1
Balance	$ (497,928)	$ (492,201)	$ (441,748)	$ (441,422)	$ (416,288)	$ (331,607)	$ (497,928)	$ (441,422)
Balance (in shares)	13,049	12,937	12,035	12,030	11,614	10,190	13,049	12,030
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ (1,418,790)	$ (1,389,438)	$ (1,363,772)	$ (1,302,640)	$ (1,261,540)	$ (1,206,723)	$ (1,363,772)	$ (1,206,723)
Comprehensive income	45,769	37,616	33,992	39,109	49,429	38,818
Dividends declared	(8,111)	(8,086)	(8,217)	(8,201)	(8,342)	(7,453)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)						19,331
Cumulative effect of change in accounting guidance related to Revenue (Note 3)						4,295
Employee stock plans	(10)	178	109	332	(13)	174
Balance	(1,456,458)	(1,418,790)	(1,389,438)	(1,333,216)	(1,302,640)	(1,261,540)	(1,456,458)	(1,333,216)
Accumulated Other Non-Owner Changes to Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	193,980	198,678	190,500	157,137	95,217	106,399	190,500	106,399
Comprehensive income	(37,345)	4,698	(8,178)	5,005	(61,920)	30,513
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)						(19,331)
Balance	$ 231,325	$ 193,980	$ 198,678	$ 152,132	$ 157,137	$ 95,217	$ 231,325	$ 152,132

Net Income Per Common Share (De

Net Income Per Common Share (Details) - shares	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Income Per Common Share [Line Items]
Weighted average number of diluted shares outstanding adjustment (in shares)		304,324	510,912	441,773	536,338
Stock Options [Member]
Net Income Per Common Share [Line Items]
Antidilutive securities excluded from computation of EPS		257,979	108,516	295,043	133,910
Options, granted (in shares)	120,585
Restricted Stock Units (RSUs) [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	93,992
Performance Share Awards [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	88,402
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	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 78,089	$ 87,779
Work-in-process	97,631	98,426
Raw material and supplies	78,758	79,785
Inventories	$ 254,478	$ 265,990

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Goodwill:
Goodwill, beginning of period		$ 955,524,000
Acquisition related		681,000
Foreign currency translation		(33,597,000)
Goodwill, end of period	$ 922,608,000	922,608,000
Goodwill impairment	0
Other Intangible Assets:
Gross Amount	894,803,000	894,803,000	$ 894,803,000
Accumulated Amortization	(336,552,000)	(336,552,000)	(296,778,000)
Foreign currency translation	(30,593,000)	(30,593,000)	(17,157,000)
Other intangible assets	919,880,000	919,880,000	933,316,000
Intangible Assets, Future Amortization Expense
Amortization of intangible assets expected in 2018	53,000,000	53,000,000
Amortization of intangible assets expected in 2019	50,000,000	50,000,000
Amortization of intangible assets expected in 2020	49,000,000	49,000,000
Amortization of intangible assets expected in 2021	49,000,000	49,000,000
Amortization of intangible assets expected in 2022	48,000,000	48,000,000
Impairment of trade names, indefinite-lived intangible assets	0
Trade name [Member]
Other Intangible Assets:
Unamortized intangible asset	55,670,000	55,670,000	55,670,000
Revenue sharing programs (RSPs) [Member]
Other Intangible Assets:
Gross Amount	299,500,000	299,500,000	299,500,000
Accumulated Amortization	(132,410,000)	(132,410,000)	(121,957,000)
Component repair programs (CRPs) [Member]
Other Intangible Assets:
Gross Amount	111,839,000	111,839,000	111,839,000
Accumulated Amortization	(25,918,000)	(25,918,000)	(21,895,000)
Customer lists/relationships [Member]
Other Intangible Assets:
Gross Amount	338,366,000	338,366,000	338,366,000
Accumulated Amortization	(94,668,000)	(94,668,000)	(79,439,000)
Patents and technology [Member]
Other Intangible Assets:
Gross Amount	125,852,000	125,852,000	125,852,000
Accumulated Amortization	(68,637,000)	(68,637,000)	(59,205,000)
Trademarks/trade names [Member]
Other Intangible Assets:
Gross Amount	11,950,000	11,950,000	11,950,000
Accumulated Amortization	(11,021,000)	(11,021,000)	(10,731,000)
Other [Member]
Other Intangible Assets:
Gross Amount	7,296,000	7,296,000	7,296,000
Accumulated Amortization	(3,898,000)	(3,898,000)	$ (3,551,000)
Industrial [Member]
Goodwill:
Goodwill, beginning of period		924,738,000
Acquisition related		681,000
Foreign currency translation		(33,597,000)
Goodwill, end of period	891,822,000	891,822,000
Aerospace [Member]
Goodwill:
Goodwill, beginning of period		30,786,000
Acquisition related		0
Foreign currency translation		0
Goodwill, end of period	$ 30,786,000	$ 30,786,000
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	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Fair value of debt	$ 901,844	$ 942,276
Total debt, net of unamortized discounts	876,326	944,016
Borrowings under lines of credit and overdrafts	18,520	2,137
Less current maturities	(20,244)	(7,659)
Long-term debt	856,082	936,357
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt	752,035	831,016
Fair value of debt	771,523	828,800
Senior Notes [Member] | 3.97% Senior Notes [Member]
Debt Instrument [Line Items]
Carrying amount of debt	100,000	100,000
Fair value of debt	105,793	100,185
Lines of Credit and Overdrafts [Member]
Debt Instrument [Line Items]
Fair value of debt	18,520	2,137
Borrowings under lines of credit and overdrafts	18,520	2,137
Finance Leases [Member]
Debt Instrument [Line Items]
Carrying amount of debt	5,323	10,216
Fair value of debt	5,556	10,503
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt	448	647
Fair value of debt	$ 452	$ 651

Debt (Narrative) (Details)

Debt (Narrative) (Details) € in Thousands	Sep. 19, 2018USD ($)	Oct. 31, 2018	Dec. 31, 2018USD ($)	Sep. 30, 2019EUR (€)	Sep. 30, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Oct. 19, 2018USD ($)	Dec. 31, 2017USD ($)	Feb. 28, 2017USD ($)	Oct. 31, 2014USD ($)
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts					$ 18,520,000		$ 2,137,000
Debt covenant ratio of senior debt to EBITDA				3.25	3.25
Debt covenant ratio of total debt to EBITDA				3.75	3.75
Debt covenant ratio of EBITDA to cash interest expense				4.25	4.25
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt					$ 752,035,000		831,016,000
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					247,965,000		168,984,000
Revolving Credit Agreement [Member] | Euro Member Countries, Euro
Debt Instrument [Line Items]
Carrying amount of debt				€ 504,690	$ 552,535,000	€ 470,350	$ 538,316,000
Stated interest rate				1.92%	1.92%	1.99%	1.99%
Revolving Credit Agreement [Member] | International Subsidiary Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt				€ 44,100	$ 49,506,000	€ 179,000	$ 208,589,000
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					18,000,000		$ 2,041,000
Line of credit facility, maximum borrowing capacity					$ 86,000,000
Line of credit, interest rate at period end				2.74%	2.74%	0.17%	0.17%
Bank Overdrafts [Member]
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts					$ 520,000		$ 96,000
Repayment period				2 days
Finance Leases [Member]
Debt Instrument [Line Items]
Carrying amount of debt					5,323,000		10,216,000
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt					448,000		$ 647,000
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Debt covenant threshold for permitted acquisition					$ 150,000
Debt covenant material acquisition, senior credit to EBITDA				3.50	3.50
Debt covenant material acquisition, debt to EBITDA				4.25	4.25
Revolving Credit Agreement [Member] | Fourth Amendment, Maturity February 2022 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity										$ 850,000,000
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] | Euribor [Member]
Debt Instrument [Line Items]
Stated interest rate		0.00%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 1,000,000,000
Line of credit facility with accordian feature, maximum borrowing capacity								$ 200,000,000
Debt fees and expenses			$ 529,000
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | one-month LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.10%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | one-month LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.70%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		0.10%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		0.70%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | Euribor [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.10%
Revolving Credit Agreement [Member] | Fifth Amendment, Maturity February 2022 [Member] | Euribor [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.70%
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
SPA with Gimatic [Member]
Debt Instrument [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 150,000,000

Derivatives (Details)

Derivatives (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Apr. 28, 2017USD ($)Bank
Derivative [Line Items]
Net cash payments from settlement			$ (13,034)	$ (3,598)
Maximum remaining maturity of foreign currency derivatives			2 years
Derivative Assets	$ 25		$ 25		$ 2,517
Derivative Liabilities	(1,640)		(1,640)		(348)
Net sales	372,587	$ 369,797	1,120,947	1,111,772
Interest expense	5,344	4,054	15,856	12,078
Foreign Exchange Contract [Member]
Derivative [Line Items]
Net cash payments from settlement			12,593	3,291
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Assets	0		0		1,412
Derivative Liabilities	(1,413)		(1,413)		(258)
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative Assets	0		0		1,412
Derivative Liabilities	(1,011)		(1,011)		0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Assets	0		0		0
Derivative Liabilities	(402)		(402)		(258)
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	(168)	1,075	(1,960)	1,886
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(113)	(286)	(421)	(1,233)
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	(178)	378	(1,846)	2,064
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	86	40	367	(374)
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	10	697	(114)	(178)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(199)	(326)	(788)	(859)
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Assets	25		25		1,105
Derivative Liabilities	(227)		(227)		(90)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Assets	25		25		1,105
Derivative Liabilities	(227)		(227)		$ (90)
Amount of Gain (Loss) Recognized in Income on Derivatives	$ (11,662)	$ 1,380	$ (15,182)	$ (6,218)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Number of banks transacted with for interest rate swap agreements (in banks) | Bank						1
Fixed interest rate						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

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	$ 25	$ 2,517
Liability derivatives	(1,640)	(348)
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	2,725	2,457
Financial assets and financial liabilities, reported at fair value	2,725	2,457
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	25	2,517
Liability derivatives	(1,640)	(348)
Bank acceptances	16,044	17,698
Rabbi trust assets	0	0
Financial assets and financial liabilities, reported at fair value	14,429	19,867
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	25	2,517
Liability derivatives	(1,640)	(348)
Bank acceptances	16,044	17,698
Rabbi trust assets	2,725	2,457
Financial assets and financial liabilities, reported at fair value	$ 17,154	$ 22,324
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	3 years
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	6 months

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pensions [Member]
Pension and other postretirement benefits expenses
Service cost		$ 1,356	$ 1,491	$ 4,064	$ 4,479
Interest cost		4,539	4,336	13,647	13,028
Expected return on plan assets		(7,389)	(7,615)	(21,816)	(22,392)
Amortization of prior service cost (credit)		101	141	302	422
Amortization of actuarial (gains) losses		2,215	2,879	6,658	8,719
Settlement loss		93	0	340	0
Net periodic benefit cost		915	1,232	3,195	4,256
Pensions [Member] | Qualified Plan [Member]
Pension and other postretirement benefits expenses
Discretionary contributions	$ 15,000
Pensions [Member] | Nonqualified Plan [Member]
Pension and other postretirement benefits expenses
Expected company contributions		5,000		5,000
Other Postretirement Benefits [Member]
Pension and other postretirement benefits expenses
Service cost		18	22	53	64
Interest cost		335	338	1,008	1,019
Amortization of prior service cost (credit)		6	5	19	15
Amortization of actuarial (gains) losses		3	135	10	421
Net periodic benefit cost		$ 362	$ 500	$ 1,090	$ 1,519

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	23.40%	21.50%	19.90%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
ROU assets	$ 31,804		$ 31,804	$ 31,724
Current lease liability	10,525		10,525
Long term lease liability	22,037		22,037
Lease Liabilities	32,562		32,562	$ 32,579
Operating lease cost	4,095		11,927
Minimum rental commitments 2019					$ 11,931
Minimum rental commitments 2020					8,322
Minimum rental commitments 2021					5,888
Minimum rental commitments 2022					2,898
Minimum rental commitments 2023					2,064
Minimum rental commitments thereafter					$ 7,659
Future minimum lease payments 2019	3,238		3,238
Future minimum lease payments 2020	10,926		10,926
Future minimum lease payments 2021	8,389		8,389
Future minimum lease payments 2022	4,155		4,155
Future minimum lease payments 2023	2,771		2,771
Future minimum lease payments after 2023	7,894		7,894
Total lease payments	37,373		37,373
Less: Interest	$ 4,811		$ 4,811
Weighted-average remaining lease term (years)	6 years		6 years
Weighted-average discount rate	3.95%		3.95%
Operating cash flows from operating leases		$ 9,967
Leased assets obtained in exchange for new operating lease liabilities		$ 9,692
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term			1 year
Renewal periods	1 year		1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term			10 years
Renewal periods	5 years		5 years

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)				$ (190,500)	$ (106,399)
Other comprehensive (loss) income before reclassifications				(46,831)	(34,664)
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	$ (19,331)			6,006	8,262
Net current-period other comprehensive (loss) income		$ (37,345)	$ 5,005	(40,825)	(26,402)
Accumulated other comprehensive income (loss)		(231,325)	(152,132)	(231,325)	(152,132)
Gains and Losses on Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)				834	72
Other comprehensive (loss) income before reclassifications				(2,300)	930
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	0			340	956
Net current-period other comprehensive (loss) income				(1,960)	1,886
Accumulated other comprehensive income (loss)		(1,126)	1,958	(1,126)	1,958
Pension and Other Postretirement Benefit Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)				(138,690)	(103,844)
Other comprehensive (loss) income before reclassifications				(18)	1,076
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	(19,331)			5,666	7,306
Net current-period other comprehensive (loss) income				5,648	8,382
Accumulated other comprehensive income (loss)		(133,042)	(114,793)	(133,042)	(114,793)
Foreign Currency Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)				(52,644)	(2,627)
Other comprehensive (loss) income before reclassifications				(44,513)	(36,670)
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	$ 0			0	0
Net current-period other comprehensive (loss) income				(44,513)	(36,670)
Accumulated other comprehensive income (loss)		$ (97,157)	$ (39,297)	$ (97,157)	$ (39,297)

Changes in Accumulated Other _4

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (5,344)	$ (4,054)	$ (15,856)	$ (12,078)
Net sales	372,587	369,797	1,120,947	1,111,772
Income before income taxes	59,717	52,562	153,293	162,340
Tax benefit	(13,948)	(13,453)	(35,916)	(34,983)
Total reclassifications in the period	45,769	39,109	117,377	127,357
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications in the period	(1,958)	(2,634)	(6,006)	(8,262)
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	(113)	(286)	(421)	(1,233)
Tax benefit	19	62	81	277
Income from continuing operations	(94)	(224)	(340)	(956)
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	86	40	367	(374)
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	(199)	(326)	(788)	(859)
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	(2,418)	(3,160)	(7,329)	(9,577)
Tax benefit	554	750	1,663	2,271
Income from continuing operations	(1,864)	(2,410)	(5,666)	(7,306)
Amortization of prior-service credits, net	(107)	(146)	(321)	(437)
Amortization of actuarial losses	(2,218)	(3,014)	(6,668)	(9,140)
Settlement loss	$ (93)	$ 0	$ (340)	$ 0

Information on Business Segme_3

Information on Business Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Segment	Sep. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Net sales	$ 372,587	$ 369,797	$ 1,120,947	$ 1,111,772
Operating profit	67,585	59,063	175,192	179,575
Interest expense	5,344	4,054	15,856	12,078
Other expense (income), net	2,524	2,447	6,043	5,157
Income before income taxes	59,717	52,562	153,293	162,340
Aerospace [Member]
Segment Reporting Information [Line Items]
Net sales	140,899	125,665	413,353	372,102
Net sales	140,899	125,665	413,353	372,102
Operating profit	32,749	25,734	91,407	75,571
Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	231,688	244,133	707,594	739,677
Net sales	231,688	244,132	707,594	739,670
Operating profit	34,836	33,329	83,785	104,004
Intersegment sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ (1)	$ 0	$ (7)

Information on Business Segme_4

Information on Business Segments Details 1 (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 2,707,914	$ 2,808,970
Aerospace [Member]
Segment Reporting Information [Line Items]
Assets	714,189	692,584
Industrial [Member]
Segment Reporting Information [Line Items]
Assets	1,863,432	1,962,362
Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 130,293	$ 154,024