Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | BARNES GROUP INC. |
Entity Central Index Key | 0000009984 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 4 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jul. 14, 2022 | Dec. 31, 2022 | Jul. 14, 2022 | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares | |
Pay vs Performance Disclosure [Table] | ||||||
Pay vs Performance [Table Text Block] | Year Summary Compensation Average Average Value of Initial Fixed $100 Total Peer Net Income Diluted EPS 2022 1 $ 8,529,992 1 $ (893,908) 1 $1,189,891 $807,951 $68.93 $120.10 $13,479 $2.14 2021 1 10,496,468 1 5,800,005 1 1,680,342 1,385,659 77.29 139.96 99,873 1.98 2020 1 8,154,857 1 (1,042,574) 1 1,404,319 151,316 83.20 115.42 63,375 1.70 2022 2 $ 12,861,436 2 $ 22,756,266 2 $1,189,891 $807,951 $68.93 $120.10 $13,479 $2.14 2021 2 N/A 2 N/A 2 1,680,342 1,385,659 77.29 139.96 99,873 1.98 2020 2 N/A 2 N/A 2 1,404,319 151,316 83.20 115.42 63,375 1.70 2022 3 $ 1,586,410 3 $ 1,365,508 3 $1,189,891 $807,951 $68.93 $120.10 $13,479 $2.14 2021 3 N/A 3 N/A 3 1,680,342 1,385,659 77.29 139.96 99,873 1.98 2020 3 N/A 3 N/A 3 1,404,319 151,316 83.20 115.42 63,375 1.70 | |||||
Company Selected Measure Name | Diluted EPS | |||||
Named Executive Officers, Footnote [Text Block] | Non-PEO NEO’s are as follows: 2022: Stephen Moule, Ian Reason, Patrick Hurley, and Dawn Edwards; 2021: Julie Streich, Stephen Moule, Michael Beck, Patrick Hurley, and Marian Acker; 2020: Christopher Stephens, Stephen Moule, Michael Beck, and Patrick Hurley. | |||||
Peer Group Issuers, Footnote [Text Block] | Also shown is our total stockholder return (“TSR”) performance compared to our peer group for each covered year. We selected the S&P Composite 1500 Industrial Machinery (Sub-Industry) Index as our peer group because its market-cap weighted constituents are most-representative of our lines of business, and added this as a peer group for the Performance Graph in our 2022 10-K. Further shown is our GAAP net income performance and our Diluted EPS performance (as certified by the CMDC) for each covered fiscal year. As required by the regulations, we include our net income performance in the table. | |||||
Adjustment To PEO Compensation, Footnote [Text Block] | Detail of CAP to our former CEO Mr. Dempsey Year Summary Exclusion of Inclusion of Exclusion of Inclusion of Compensation 2022 $8,529,992 $(5,664,660) $(2,421,752) $(1,882,111) $544,623 $(893,908) 2021 10,496,468 (5,563,049) 2,184,831 (1,981,776) 663,532 5,800,005 2020 8,154,857 (5,003,725) (2,617,028) (2,146,937) 570,259 (1,042,574) The equity values included in the “Inclusion of Changes in Equity Fair Values” column above is comprised of the following: Year Year-End Change in Fair Value Vesting-Date Change in Fair Fair Value at Value of Inclusion of 2022 $930,618 $(999,930 ) $451,014 $(1,114,686 ) $(1,710,959 ) $22,191 $(2,421,752 ) 2021 4,611,830 (2,014,590 ) 0 (452,047 ) 0 39,637 2,184,831 2020 2,898,334 (3,108,613 ) 0 (2,562,680 ) 0 155,930 (2,617,028 ) Detail of CAP to our current CEO Mr. Hook Year Summary Exclusion of Current Inclusion of Exclusion of Change Inclusion of Compensation 2022 $12,861,436 $(10,105,009) $19,999,839 $0 $0 $22,756,266 2021 N/A N/A N/A N/A N/A N/A 2020 N/A N/A N/A N/A N/A N/A The equity values included in the “Inclusion of Changes in Equity Fair Values” column above is comprised of the following: Year Year-End Change in Fair Value Vesting-Date Change in Fair Fair Value Value of Inclusion of 2022 $19,999,561 $0 $0 $0 $0 $277 $19,999,839 2021 N/A N/A N/A N/A N/A N/A N/A 2020 N/A N/A N/A N/A N/A N/A N/A Detail of CAP to our Interim CEO Ms. Streich Year Summary Exclusion of Current Inclusion of Exclusion of Change Inclusion of Compensation 2022 $1,586,410 $(887,103) $666,201 $0 $0 $1,365,508 2021 N/A N/A N/A N/A N/A N/A 2020 N/A N/A N/A N/A N/A N/A The equity values included in the “Inclusion of Changes in Equity Fair Values” column above is comprised of the following: Year Year-End Change in Fair Value Vesting-Date Change in Fair Fair Value Value of Inclusion of 2022 $794,077 $(106,642) $0 $(26,644) $0 $5,410 $666,201 2021 N/A N/A N/A N/A N/A N/A N/A 2020 N/A N/A N/A N/A N/A N/A N/A | |||||
Non-PEO NEO Average Total Compensation Amount | $ 1,189,891 | $ 1,680,342 | $ 1,404,319 | |||
Non-PEO NEO Average Compensation Actually Paid Amount | $ 807,951 | $ 1,385,659 | $ 151,316 | |||
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Detail of Average CAP to our other NEOs: Year Summary Exclusion of Current Inclusion of Change in Inclusion of Compensation 2022 $1,189,891 $(583,943) $183,327 $0 $18,677 $807,951 2021 1,680,342 (704,941) 405,847 0 4,411 1,385,659 2020 1,404,319 (848,097) (372,107) (48,015) 15,215 151,316 The equity values included in the “Inclusion of Changes in Equity Fair Values” column above is comprised of the following: Year Year-End Change in Fair Value Vesting-Date Change in Fair Fair Value Value of Inclusion of 2022 $438,513 $(87,004) $0 $(90,224) $(82,210) $4,253 $183,327 2021 590,682 (176,115) 0 (12,955) 0 4,234 405,847 2020 239,046 (283,604) 0 (258,798) (79,422) 10,670 (372,107) | |||||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Our TSR was negative in each of the three years covered by the disclosure and was not directly correlated with CAP reported for Mr. Dempsey or average CAP reported for other NEOs. In both cases, CAP increased from 2020 to 2021 and declined from 2021 to 2022. | |||||
Compensation Actually Paid vs. Net Income [Text Block] | There was a correlation between our GAAP Net Income and CAP reported for Mr. Dempsey and average CAP reported for other NEOs over the three-year period. Here, GAAP Net Income and CAP reported for Mr. Dempsey and on average for the other NEOs both increased from 2020 to 2021 and declined from 2021 to 2022. | |||||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | The relationship between our Diluted EPS and CAP reported for Mr. Dempsey and average CAP reported for other NEOs over the three-year period was like TSR, with no direct correlation. Diluted EPS increased progressively from 2020 in 2021 and 2022, while CAP reported for Mr. Dempsey and on average for the other NEOs increased from 2020 to 2021 and decreased from 2021 to 2022. | |||||
Tabular List [Table Text Block] | Other Financial Measures The following table lists the most important financial performance measures used by the Company to link compensation actually paid to our NEOs to Company performance: Most Important Performance Measures for 2022 Description Diluted EPS Reported Diluted EPS, excluding the impact of certain items pursuant to the terms of the annual cash incentive program. Revenue Growth Revenue reflects Net Sales, as reported Operating Margin Operating Margin reflects Operating Income as a percentage of Net Sales Days Working Capital DWC reflects average accounts receivable plus inventory less accounts payable measured in days relative to Net Sales and Cost of Sales EBITDA Growth EBITDA reflects Net Income before Interest expense, Income Taxes and Depreciation and Amortization ROIC Return on Invested Capital reflects the ratio of Net Income and total average invested capital | |||||
PEO Name | Interim CEO Ms. Streich | current CEO Mr. Hook | former CEO Mr. Dempsey | former CEO Mr. Dempsey | former CEO Mr. Dempsey | |
Measure [Axis]: 1 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | Diluted EPS | |||||
Non-GAAP Measure Description [Text Block] | Diluted EPS | |||||
Measure [Axis]: 2 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | Revenue Growth | |||||
Measure [Axis]: 3 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | Operating Margin | |||||
Measure [Axis]: 4 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | Days Working Capital | |||||
Measure [Axis]: 5 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | EBITDA Growth | |||||
Measure [Axis]: 6 | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Measure Name | ROIC | |||||
Non-PEO NEO [Member] | Exclusion of Current Year Stock Awards and Option Awards at Grant Date Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | $ (583,943) | $ (704,941) | $ (848,097) | |||
Non-PEO NEO [Member] | Inclusion of Changes in Equity Fair Values [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 183,327 | 405,847 | (372,107) | |||
Non-PEO NEO [Member] | Inclusion of Pension Service Cost Attributable to Current Year Service [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 18,677 | 4,411 | 15,215 | |||
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted Unvested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 438,513 | 590,682 | 239,046 | |||
Non-PEO NEO [Member] | Change in Fair Value of Awards Granted Unvested Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (87,004) | (176,115) | (283,604) | |||
Non-PEO NEO [Member] | Vesting Fair Value of Equity Awards Granted in Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | 0 | 0 | |||
Non-PEO NEO [Member] | Change in Fair Value Vesting Date of Unvested Equity Awards Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (90,224) | (12,955) | (258,798) | |||
Non-PEO NEO [Member] | Fair Value of Equity Awards Forfeited [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (82,210) | 0 | (79,422) | |||
Non-PEO NEO [Member] | Value of Dividends or Other Earnings on Equity Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 4,253 | 4,234 | 10,670 | |||
Non-PEO NEO [Member] | Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | 0 | (48,015) | |||
Patrick J. Dempsey [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 8,529,992 | 10,496,468 | 8,154,857 | |||
PEO Actually Paid Compensation Amount | (893,908) | 5,800,005 | (1,042,574) | |||
Non-PEO NEO Average Total Compensation Amount | 1,189,891 | 1,680,342 | 1,404,319 | |||
Non-PEO NEO Average Compensation Actually Paid Amount | 807,951 | 1,385,659 | 151,316 | |||
Total Shareholder Return Amount | 68.93 | 77.29 | 83.20 | |||
Peer Group Total Shareholder Return Amount | 120.10 | 139.96 | 115.42 | |||
Net Income (Loss) | $ 13,479,000 | $ 99,873,000 | $ 63,375,000 | |||
Company Selected Measure Amount | $ / shares | 2.14 | 1.98 | 1.70 | |||
Thomas J. Hook [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | $ 12,861,436 | |||||
PEO Actually Paid Compensation Amount | 22,756,266 | |||||
Non-PEO NEO Average Total Compensation Amount | 1,189,891 | $ 1,680,342 | $ 1,404,319 | |||
Non-PEO NEO Average Compensation Actually Paid Amount | 807,951 | 1,385,659 | 151,316 | |||
Total Shareholder Return Amount | 68.93 | 77.29 | 83.20 | |||
Peer Group Total Shareholder Return Amount | 120.10 | 139.96 | 115.42 | |||
Net Income (Loss) | $ 13,479,000 | $ 99,873,000 | $ 63,375,000 | |||
Company Selected Measure Amount | $ / shares | 2.14 | 1.98 | 1.70 | |||
Julie K. Streich [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | $ 1,586,410 | |||||
PEO Actually Paid Compensation Amount | 1,365,508 | |||||
Non-PEO NEO Average Total Compensation Amount | 1,189,891 | $ 1,680,342 | $ 1,404,319 | |||
Non-PEO NEO Average Compensation Actually Paid Amount | 807,951 | 1,385,659 | 151,316 | |||
Total Shareholder Return Amount | 68.93 | 77.29 | 83.20 | |||
Peer Group Total Shareholder Return Amount | 120.10 | 139.96 | 115.42 | |||
Net Income (Loss) | $ 13,479,000 | $ 99,873,000 | $ 63,375,000 | |||
Company Selected Measure Amount | $ / shares | 2.14 | 1.98 | 1.70 | |||
Former CEO, Mr. Dempsey [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | $ 8,529,992 | $ 10,496,468 | $ 8,154,857 | |||
PEO Actually Paid Compensation Amount | (893,908) | 5,800,005 | (1,042,574) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Exclusion of Current Year Stock Awards and Option Awards at Grant Date Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (5,664,660) | (5,563,049) | (5,003,725) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Inclusion of Changes in Equity Fair Values [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (2,421,752) | 2,184,831 | (2,617,028) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Exclusion of Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (1,882,111) | (1,981,776) | (2,146,937) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Inclusion of Pension Service Cost Attributable to Current Year Service [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 544,623 | 663,532 | 570,259 | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Fair Value of Equity Awards Granted Unvested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 930,618 | 4,611,830 | 2,898,334 | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Change in Fair Value of Awards Granted Unvested Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (999,930) | (2,014,590) | (3,108,613) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Vesting Fair Value of Equity Awards Granted in Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 451,014 | 0 | 0 | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Change in Fair Value Vesting Date of Unvested Equity Awards Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (1,114,686) | (452,047) | (2,562,680) | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Fair Value of Equity Awards Forfeited [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (1,710,959) | 0 | 0 | |||
Former CEO, Mr. Dempsey [Member] | PEO [Member] | Value of Dividends or Other Earnings on Equity Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 22,191 | $ 39,637 | $ 155,930 | |||
Current CEO, Mr. Hook [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 12,861,436 | |||||
PEO Actually Paid Compensation Amount | 22,756,266 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Exclusion of Current Year Stock Awards and Option Awards at Grant Date Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (10,105,009) | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Inclusion of Changes in Equity Fair Values [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 19,999,839 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Exclusion of Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Inclusion of Pension Service Cost Attributable to Current Year Service [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Fair Value of Equity Awards Granted Unvested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 19,999,561 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Change in Fair Value of Awards Granted Unvested Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Vesting Fair Value of Equity Awards Granted in Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Change in Fair Value Vesting Date of Unvested Equity Awards Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Fair Value of Equity Awards Forfeited [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Current CEO, Mr. Hook [Member] | PEO [Member] | Value of Dividends or Other Earnings on Equity Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 277 | |||||
Interim CEO, Ms. Streich [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
PEO Total Compensation Amount | 1,586,410 | |||||
PEO Actually Paid Compensation Amount | 1,365,508 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Exclusion of Current Year Stock Awards and Option Awards at Grant Date Fair Value [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (887,103) | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Inclusion of Changes in Equity Fair Values [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 666,201 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Exclusion of Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Inclusion of Pension Service Cost Attributable to Current Year Service [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Fair Value of Equity Awards Granted Unvested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 794,077 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Change in Fair Value of Awards Granted Unvested Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (106,642) | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Vesting Fair Value of Equity Awards Granted in Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Change in Fair Value Vesting Date of Unvested Equity Awards Vested [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | (26,644) | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Fair Value of Equity Awards Forfeited [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | 0 | |||||
Interim CEO, Ms. Streich [Member] | PEO [Member] | Value of Dividends or Other Earnings on Equity Awards [Member] | ||||||
Pay vs Performance Disclosure [Table] | ||||||
Adjustment to Compensation Amount | $ 5,410 |