0000842633-21-000005 | 10-K | XBRL Viewer

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Document and Entity Information Document - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Entity Registrant Name	TRIMAS CORPORATION
Entity Address, Address Line One	38505 Woodward Avenue
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Bloomfield Hills
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48304
City Area Code	248
Local Phone Number	631-5450
Entity Central Index Key	0000842633
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Entity File Number	001-10716
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		43,178,165
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Public Float			$ 1.0
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Transition Report	false
Entity Tax Identification Number	38-2687639
Trading Symbol	TRS
Security Exchange Name	NASDAQ

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ("ASU 2019-12"), which removes specific exceptions to the general principles in Topic 740, simplifies the accounting for income taxes and provides clarification of certain aspects of current guidance. ASU 2019-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted. The Company is in the process of assessing the impact of adoption on its consolidated financial statements. Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)" ("ASU 2018-14"), which modifies the disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. The Company adopted ASU 2018-14 in the fourth quarter of 2020. The standard relates to financial statement disclosure only and did not have an impact on the Company’s consolidated balance sheet, statement of operations or cash flows. See Note 18, "Employee Benefit Plans," for disclosure of the Company's defined benefit plans. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"), which simplifies the test for goodwill impairment by eliminating the requirement to perform a hypothetical purchase price allocation to measure the amount of goodwill impairment. Instead, under ASU 2017-04, the goodwill impairment is the amount by which a reporting unit's carrying value exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. The Company adopted ASU 2017-04 in the first quarter of 2020. See Note 3, "Summary of Significant Accounting Policies," for further information on the Company's policies regarding assessing potential goodwill impairments.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Consolidated Balance Sheet Statement - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 73,950	$ 172,470
Receivables, net	113,410	108,860
Inventories	149,380	132,660
Prepaid expenses and other current assets	15,090	20,050
Total current assets	351,830	434,040
Property and equipment, net	253,060	214,330
Operating lease right-of-use assets	37,820	27,850
Goodwill	303,970	334,640
Other intangibles, net	206,200	161,390
Deferred income taxes	19,580	500
Other assets	21,420	19,950
Total assets	1,193,880	1,192,700
Current liabilities:
Accounts payable	69,910	72,670
Accrued liabilities	60,540	42,020
Operating lease liabilities, current portion	6,740	5,100
Total current liabilities	137,190	119,790
Long-term debt, net	346,290	294,690
Operating lease liabilities	31,610	23,100
Deferred income taxes	24,850	16,830
Other long-term liabilities	69,690	40,810
Total liabilities	609,630	495,220
Preferred stock $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None	0	0
Common stock, $0.01 par: Authorized 400,000,000 shares; Issued and outstanding: 43,178,165 shares at December 31, 2020 and 44,562,679 shares at December 31, 2019	430	450
Paid-in capital	749,050	782,880
Accumulated deficit	(159,610)	(79,850)
Accumulated other comprehensive loss	(5,620)	(6,000)
Total shareholders' equity	584,250	697,480
Total liabilities and shareholders' equity	$ 1,193,880	$ 1,192,700

Consolidated Balance Sheet Parentheticals - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity:
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	43,178,165	44,562,679
Common Stock, Shares, Outstanding	43,178,165	44,562,679

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 769,970	$ 723,530	$ 705,030
Cost of sales	(587,890)	(529,630)	(504,920)
Gross profit	182,080	193,900	200,110
Selling, general and administrative expenses	(134,480)	(102,530)	(91,210)
Net loss on dispositions of assets	(1,290)	(150)	(90)
Impairment of goodwill and indefinite-lived intangible assets	(134,600)	0	0
Operating profit (loss)	(88,290)	91,220	108,810
Other expense, net:
Interest expense	(14,660)	(13,950)	(13,910)
Other income (expense), net	240	990	(2,540)
Other expense, net	(14,420)	(12,960)	(16,450)
Income (loss) before income taxes	(102,710)	78,260	92,360
Income tax benefit (expense)	22,950	(16,320)	(18,650)
Income (loss) from continuing operations	(79,760)	61,940	73,710
Income from discontinued operations, net of income taxes	0	36,680	9,590
Net income (loss)	$ (79,760)	$ 98,620	$ 83,300
Basic earnings (loss) per share:
Continuing operations	$ (1.83)	$ 1.37	$ 1.61
Discontinued operations	0	0.81	0.21
Net income (loss) per share	$ (1.83)	$ 2.18	$ 1.82
Weighted average common shares—basic	43,581,232	45,303,659	45,824,555
Diluted earnings (loss) per share:
Continuing operations	$ (1.83)	$ 1.36	$ 1.60
Discontinued operations	0	0.80	0.20
Net income (loss) per share	$ (1.83)	$ 2.16	$ 1.80
Weighted average common shares—diluted	43,581,232	45,595,154	46,170,464

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (79,760)	$ 98,620	$ 83,300
Other comprehensive income
Defined benefit plans	1,310	(1,470)	3,250
Foreign currency translation	6,880	10,290	(6,880)
Derivative instruments	(7,810)	3,300	4,110
Total other comprehensive income	380	12,120	480
Total comprehensive income (loss)	$ (79,380)	$ 110,740	$ 83,780

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Consolidated Statement of Cash Flows Statement - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities:
Net income (loss)	$ (79,760)	$ 98,620	$ 83,300
Income from discontinued operations	0	36,680	9,590
Income (loss) from continuing operations	(79,760)	61,940	73,710
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:
Impairment of goodwill and indefinite-lived intangible assets	134,600	0	0
Loss on dispositions of assets	1,290	150	90
Depreciation	29,020	24,870	22,230
Amortization of intangible assets	20,750	18,630	18,260
Amortization of debt issue costs	1,150	1,130	1,290
Deferred income taxes	(33,710)	2,100	5,810
Non-cash compensation expense	8,170	6,450	7,170
Non-cash change in legacy liability estimate	23,400	0	0
(Increase) decrease in receivables	9,580	3,280	(9,570)
(Increase) decrease in inventories	3,980	740	(14,680)
(Increase) decrease in prepaid expenses and other assets	4,400	(6,930)	8,790
Increase (decrease) in accounts payable and accrued liabilities	4,490	(12,780)	(2,330)
Other operating activities	50	(3,870)	10
Net cash provided by operating activities of continuing operations	127,410	95,710	110,780
Net cash provided by (used for) operating activities of discontinued operations	0	(20,110)	18,540
Net cash provided by operating activities	127,410	75,600	129,320
Cash Flows from Investing Activities:
Capital expenditures	(40,480)	(29,670)	(23,420)
Acquisition of businesses, net of cash acquired	(193,540)	(67,090)	0
Net proceeds from dispositions businesses, property and equipment	1,950	128,080	60
Net cash provided by (used for) investing activities of continuing operations	(232,070)	31,320	(23,360)
Net cash used for investing activities of discontinued operations	0	(2,240)	(1,440)
Net cash provided by (used for) investing activities	(232,070)	29,080	(24,800)
Cash Flows from Financing Activities:
Proceeds from borrowings on revolving credit and accounts receivable facilities	367,280	189,060	59,060
Repayments of borrowings on revolving credit and accounts receivable facilities	(319,120)	(189,340)	(68,490)
Payments to purchase common stock	(39,420)	(36,740)	(12,140)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,600)	(3,340)	(2,380)
Other financing activities	0	0	0
Net cash provided by (used for) financing activities of continuing operations	6,140	(40,360)	(23,950)
Net cash provided by financing activities of discontinued operations	0	0	0
Net cash provided by (used for) financing activities	6,140	(40,360)	(23,950)
Increase (decrease) for the year	(98,520)	64,320	80,570
At beginning of year	172,470	108,150	27,580
At end of year	73,950	172,470	108,150
Supplemental disclosure of cash flow information:
Cash paid for interest	13,210	12,430	13,800
Cash paid for income taxes	$ 9,060	$ 44,020	$ 7,380

Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]
Balances at Dec. 31, 2017	$ 544,020	$ 460	$ 823,850	$ (262,960)	$ (17,330)
Net income (loss)	83,300			83,300
Other comprehensive income	480				480
Purchase of common stock	(12,140)		(12,140)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,380)		(2,380)
Non-cash compensation expense	7,170		7,170
Balances at Dec. 31, 2018	620,450	460	816,500	(179,660)	(16,850)
Net income (loss)	98,620			98,620
Other comprehensive income	12,120				12,120
Purchase of common stock	(36,740)	(10)	(36,730)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(3,340)		(3,340)
Non-cash compensation expense	6,450		6,450
Impact of adoption of new accounting pronouncement	(80)			1,190	(1,270)
Balances at Dec. 31, 2019	697,480	450	782,880	(79,850)	(6,000)
Net income (loss)	(79,760)			(79,760)
Other comprehensive income	380				380
Purchase of common stock	(39,420)	(30)	(39,390)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,600)		(2,600)
Non-cash compensation expense	8,170	10	8,160
Balances at Dec. 31, 2020	$ 584,250	$ 430	$ 749,050	$ (159,610)	$ (5,620)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation TriMas Corporation ("TriMas" or the "Company"), and its consolidated subsidiaries, designs, engineers and manufactures innovative products under leading brand names for customers primarily in the consumer products, aerospace & defense, and industrial markets. In the second quarter of 2020, the Company elected to change its method of accounting for asbestos-related defense costs from accruing for probable and reasonably estimable defense costs associated with known claims expected to settle to accrue for all future defense costs for both known and unknown claims, which the Company now believes are reasonably estimable. The Company believes this change is preferable, as asbestos-related defense costs represent expenditures related to legacy activities that do not contribute to current or future revenue generating activities, and recording an estimate of the full liability for asbestos-related costs, where estimable with reasonable precision, provides a more complete assessment of the liability associated with resolving asbestos-related claims. This accounting change has been reflected as a change in accounting estimate effected by a change in accounting principle. See Note 17, "Commitments and Contingencies," for further information on this change. In the first quarter of 2020, TriMas began reporting its machined components operations, located in Stanton, California and Tolleson, Arizona, as part of its Aerospace segment. The operations were previously reported in the Specialty Products segment. The move of these operations into TriMas Aerospace facilitates achieving anticipated synergies from the February 2020 RSA Engineered Products ("RSA") acquisition, allowing the Company to better leverage the machining competencies and resources across its aerospace businesses. See Note 22, "Segment Information," for further information on each of the Company's reportable segments. In the fourth quarter of 2019, the Company completed the sale of its Lamons division (“Lamons”), a transaction entered into with an investment fund sponsored by First Reserve. Lamons was sold for approximately $136.8 million in cash, of which approximately $135.0 million was received in 2019 and the remaining $1.8 million was received in the first quarter of 2020. The financial results of Lamons were previously reported within the Company's Specialty Products segment, and are presented as discontinued operations for all periods presented in the financial statements attached hereto. See Note 5, "Discontinued Operations," for further information on the sale of Lamons and its historical financial results. The preparation of financial statements also requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results may differ from such estimates and assumptions due to risks and uncertainties, including uncertainty in the current economic environment due to the ongoing outbreak of a new strain of the coronavirus (“COVID-19”). While the full impact of COVID-19 on the Company's operations is unknown and cannot be reasonably estimated at this time, the Company has made appropriate accounting estimates based on the facts and circumstances available as of the reporting date. To the extent there are differences between these estimates and actual results, the Company's consolidated financial statements may be materially affected. Certain prior year amounts have been reclassified to conform with current year presentation.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation. The accompanying consolidated financial statements include the accounts and transactions of TriMas and its subsidiaries. Intercompany transactions have been eliminated. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and other intangibles, valuation allowances for receivables, inventories and deferred income tax assets, valuation of derivatives, estimated future unrecoverable lease costs, reserves for asbestos and ordinary course litigation, assets and obligations related to employee benefits and estimated unrecognized tax benefits. Actual results may differ from such estimates and assumptions. Cash and Cash Equivalents. The Company considers cash on hand and on deposit and investments in all highly liquid debt instruments with initial maturities of three months or less to be cash and cash equivalents. Cash and cash equivalents also includes restricted cash held on deposit with a financial institution as cash collateral for the Company's outstanding letters of credit. See Note 8, "Cash and Cash Equivalents," for further details regarding the Company's cash and cash equivalents. Receivables. Receivables are presented net of allowances for doubtful accounts of approximately $2.1 million at each of December 31, 2020 and 2019. The Company monitors its exposure for credit losses and maintains allowances for doubtful accounts based upon the Company's best estimate of probable losses inherent in the accounts receivable balances. The Company does not believe that significant credit risk exists due to its diverse customer base. Inventories. Inventories are stated at the lower of cost or net realizable value, with cost determined using the first-in, first-out method. Direct materials, direct labor and allocations of variable and fixed manufacturing-related overhead are included in inventory cost. Property and Equipment. Property and equipment additions, including significant improvements, are recorded at cost. Upon retirement or disposal of property and equipment, the cost and accumulated depreciation are removed from the accounts, and any gain or loss is included in the accompanying statement of operations. Repair and maintenance costs are charged to expense as incurred. Depreciation and Amortization. Depreciation is computed principally using the straight-line method over the estimated useful lives of the assets. Annual depreciation rates are as follows: building and land/building improvements three to 40 years, and machinery and equipment, three to 15 years. Capitalized debt issuance costs are amortized over the underlying terms of the related debt securities. Customer relationship intangibles are amortized over periods ranging from five to 25 years, while technology and other intangibles are amortized over periods ranging from one to 30 years. Impairment of Long-Lived Assets and Definite-Lived Intangible Assets. The Company reviews, on at least a quarterly basis, the financial performance of its businesses for indicators of impairment. In reviewing for impairment indicators, the Company also considers events or changes in circumstances such as business prospects, customer retention, market trends, potential product obsolescence, competitive activities and other economic factors. An impairment loss is recognized when the carrying value of an asset group exceeds the future net undiscounted cash flows expected to be generated by that asset group. The impairment loss recognized is the amount by which the carrying value of the asset group exceeds its fair value. Goodwill. The Company assesses goodwill for impairment on an annual basis (October 1 test date) by reviewing relevant qualitative and quantitative factors. More frequent evaluations may be required if the Company experiences changes in its business climate or as a result of other triggering events that take place. An impairment loss is recognized when the carrying value of a reporting unit's goodwill exceeds its fair value. The Company determines its reporting units at the individual operating segment level, or one level below, when there is discrete financial information available that is regularly reviewed by segment management to evaluate operating results. For purposes of the Company's 2020 goodwill impairment test, the Company had six reporting units, three of which had goodwill, within its three reportable segments. The Company begins its goodwill reviews by conducting a qualitative assessment, considering relevant events and circumstances that affect the fair value or carrying amount of a reporting unit. Such events and circumstances can include macroeconomic conditions, industry and market considerations, overall financial performance, entity and reporting unit specific events, and capital markets pricing. The Company considers the extent to which any identified adverse events and circumstances affect the comparison of a reporting unit's fair value with its carrying amount. The Company places more weight on the events and circumstances that most affect a reporting unit's fair value or the carrying amount of its net assets. The Company considers positive and mitigating events and circumstances that may affect its determination of whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company also considers recent valuations of its reporting units, including the difference between the most recent fair value estimate and the carrying amount. Each of these factors is considered by management in reaching its conclusion about whether a quantitative goodwill impairment test is necessary to estimate the fair value of its reporting units. If the Company concludes that conducting a quantitative assessment is required, it performs a quantitative goodwill impairment test. When conducting a quantitative goodwill impairment test, the Company determines the fair value of the reporting unit being evaluated utilizing a combination of three valuation techniques: discounted cash flow (income approach), market comparable method (market approach) and market capitalization (direct market data method). The income approach is based on management's operating plan and internal five-year forecast and utilizes forward-looking assumptions and projections, on a discounted basis, but considers factors unique to each reporting unit and related long-range plans that may not be comparable to other companies and that are not yet public. The market approach considers potentially comparable companies and transactions within the industries where the Company's reporting units participate, and applies their trading multiples to the financial projections of the Company's reporting units. This approach utilizes data from actual marketplace transactions, but reliance on its results is limited by difficulty in identifying companies that are specifically comparable to the Company's reporting units, considering the diversity of the Company's businesses, the relative sizes and levels of complexity. The Company also uses the direct market data method by comparing its book value and the estimates of fair value of the reporting units to the Company's market capitalization. Management uses this comparison as additional evidence of the fair value of the Company, as its market capitalization may be suppressed by other factors such as the control premium associated with a controlling shareholder, the Company's degree of leverage and the float of the Company's common stock. Management evaluates and weights the results based on a combination of the income and market approaches, and, in situations where the income approach results differ significantly from the market and direct data approaches, management re-evaluates and adjusts, if necessary, its assumptions. Based on the quantitative test, if it is determined that the carrying value of the reporting unit is higher than its fair value, goodwill is impaired and is written down to the fair value amount; however, the loss recognized will not exceed the total amount of goodwill allocated to the reporting unit. See Note 9, "Goodwill and Other Intangible Assets," for further details regarding the Company's goodwill impairment testing. Indefinite-Lived Intangibles. The Company assesses indefinite-lived intangible assets (primarily trademark/trade names) for impairment on an annual basis (October 1 test date) by reviewing relevant qualitative and quantitative factors. More frequent evaluations may be required if the Company experiences changes in its business climate or as a result of other triggering events that take place. An impairment loss is recognized when the carrying value of the asset exceeds its fair value. In conducting a qualitative assessment, the Company considers relevant events and circumstances to determine whether it is more likely than not that the fair values of the indefinite-lived intangible assets are less than the carrying values. In addition to the events and circumstances that the Company considers above in its qualitative analysis for potential goodwill impairment, the Company also considers legal, regulatory and contractual factors that could affect the fair value or carrying amount of the Company's indefinite-lived intangible assets. The Company also considers recent valuations of its indefinite-lived intangible assets, including the difference between the most recent fair value estimates and the carrying amounts. These factors are all considered by management in reaching its conclusion about whether it is more likely than not that the fair values of the indefinite-lived intangible assets are less than the carrying values. If management concludes that further testing is required, the Company performs a quantitative valuation to estimate the fair value of its indefinite-lived intangible assets. In conducting the quantitative impairment analysis, the Company determines the fair value of its indefinite-lived intangible assets using the relief-from-royalty method. The relief-from-royalty method involves the estimation of appropriate market royalty rates for the indefinite-lived intangible assets and the application of these royalty rates to forecasted net sales attributable to the intangible assets. The resulting cash flows are then discounted to present value, using a rate appropriately reflecting the risks inherent in the cash flows, which then is compared to the carrying value of the assets. If the carrying value exceeds fair value, an impairment is recorded. See Note 9, "Goodwill and Other Intangible Assets," for further details regarding the Company's indefinite-lived intangible asset impairment testing. High Deductible Insurance. The Company generally has high deductible insurance programs for losses and liabilities related to workers' compensation, health and welfare claims and comprehensive general, product and vehicle liability. The Company is generally responsible for up to $0.8 million per occurrence under its retention program for workers' compensation, between $0.3 million and $1.5 million per occurrence under its retention programs for comprehensive general, product and vehicle liability, and has a $0.4 million per occurrence stop-loss limit with respect to its group medical plan. Total insurance limits under these retention programs vary by year for comprehensive general, product and vehicle liability and extend to the applicable statutory limits for workers' compensation. Reserves for claims losses, including an estimate of related litigation defense costs, are recorded based upon the Company's estimates of the aggregate liability for claims incurred using actuarial assumptions about future events. Changes in assumptions for factors such as medical costs and actual experience could cause these estimates to change. Pension Plans. The Company engages independent actuaries to compute the amounts of liabilities and expenses under defined benefit pension plans, subject to the assumptions that the Company determines are appropriate based on historical trends, current market rates and future projections. Assumptions used in the actuarial calculations could have a significant impact on plan obligations, and a lesser impact on current period expense. Annually, the Company reviews the actual experience compared to the significant assumptions used and makes adjustments to the assumptions, if warranted. Discount rates are based on an expected benefit payments duration analysis and the equivalent average yield rate for high-quality fixed-income investments. Pension benefits are funded through deposits with trustees and the expected long-term rate of return on fund assets is based on actual historical returns and a review of other public company pension asset return data, modified for known changes in the market and any expected change in investment policy. See Note 18, “Employee Benefit Plans,” for further information. Asbestos-related Matters. The Company accrues loss reserves for asbestos-related matters based upon an estimate of the ultimate liability for claims incurred, whether reported or not, including an estimate of future settlement costs and costs to defend. The Company utilizes known facts and historical trends for Company-specific and general market asbestos-related activity, as well as an actuarial valuation in determining estimated required reserves which it believes are probable and reasonably estimable. Asbestos-related accruals are assessed at each balance sheet date to determine if the liability remains reasonably stated. Accruals for asbestos-related matters are included in the consolidated balance sheet in “Accrued liabilities” and “Other long-term liabilities.” See Note 17, “Commitments and Contingencies,” for further information. Revenue Recognition. Revenue is recognized when control of promised goods is transferred to customers, which generally occurs when products are shipped from the Company’s facilities to its customers. The amount of revenue recorded reflects the consideration the Company expects to be entitled to receive in exchange for transferring those goods. Net sales are comprised of gross revenues, based on observed stand-alone selling prices, less estimates of expected returns, trade discounts and customer allowances, which include incentives such as volume and other discounts in connection with various supply programs. Such deductions are estimated and recorded during the period the related revenue is recognized. The Company may adjust these estimates when the expected amount of consideration changes based on sales volumes or other contractual terms. Sales and other consumption taxes the Company collects from customers and remits to government agencies are excluded from revenue. The Company accounts for freight and shipping costs that occur after control of the related goods transfer to the customer as a fulfillment cost within cost of sales. The nature and timing of the Company's revenue transactions are similar, as substantially all revenue is based on point-in-time transactions with customers under industry-standard payment terms. The Company may require shortened payment terms, including cash-in-advance, on an individual customer basis depending on its assessment of the customer's credit worthiness. Cost of Sales. Cost of sales includes material, labor and overhead costs incurred in the manufacture of products sold in the period. Material costs include raw material, purchased components, outside processing and freight costs. Overhead costs consist of variable and fixed manufacturing costs, wages and fringe benefits, and purchasing, receiving and inspection costs. Selling, General and Administrative Expenses. Selling, general and administrative expenses include the following: costs related to the advertising, sale, marketing and distribution of the Company's products, amortization of customer intangible assets, costs of finance, human resources, legal functions, executive management costs and other administrative expenses. Income Taxes. The Company computes income taxes using the asset and liability method, whereby deferred income taxes using current enacted tax rates are provided for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities and for operating loss and tax credit carryforwards. The Company determines valuation allowances based on an assessment of positive and negative evidence on a jurisdiction-by-jurisdiction basis and records a valuation allowance to reduce deferred tax assets to the amount more likely than not to be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. See Note 23, "Income Taxes," for further information. Foreign Currency Translation. The financial statements of subsidiaries located outside of the United States are measured using the currency of the primary economic environment in which they operate as the functional currency. When translating into U.S. dollars, income and expense items are translated at average monthly exchange rates and assets and liabilities are translated at exchange rates in effect at the balance sheet date. Adjustments resulting from translating the functional currency into U.S. dollars are deferred as a component of accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of shareholders' equity. Net foreign currency transaction gains were approximately $0.6 million, $0.3 million and $1.0 million for the years ended December 31, 2020, 2019 and 2018, respectively, and are included in other expense, net in the accompanying consolidated statement of operations. Derivative Financial Instruments. The Company records derivative financial instruments at fair value on the balance sheet as either assets or liabilities, and changes in their fair values are immediately recognized in earnings if the derivatives do not qualify as effective hedges. If a derivative is designated as a fair value hedge, then changes in the fair value of the derivative are offset against the changes in the fair value of the underlying hedged item. If a derivative is designated as a cash flow hedge, then the effective portion of the changes in the fair value of the derivative is recognized as a component of other comprehensive income until the underlying hedged item is recognized in earnings or the forecasted transaction is no longer probable of occurring. If a derivative is designated as a net investment hedge, then the effective portion of the changes in the fair value of the derivative is recognized in other comprehensive income and will be subsequently reclassified to earnings when the hedged net investment is either sold or substantially liquidated. The Company formally documents hedging relationships for its derivative transactions and the underlying hedged items, as well as its risk management objectives and strategies for undertaking the hedge transactions. See Note 14, "Derivative Instruments," for further information. Fair Value of Financial Instruments. In accounting for and disclosing the fair value of financial instruments, the Company uses the following hierarchy: •Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; •Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and •Level 3 inputs are unobservable inputs for the asset or liability. Valuation of the Company's interest rate swaps and cross-currency swaps are based on the income approach, which uses observable inputs such as interest rate yield curves and forward currency exchange rates, as applicable. The carrying value of financial instruments reported in the balance sheet for current assets and current liabilities approximates fair value due to the short maturity of these instruments. Business Combinations. The Company records assets acquired and liabilities assumed from acquisitions at fair value. The fair value of working capital accounts generally approximates book value. The valuation of inventory, property, plant and equipment, and intangible assets requires significant assumptions. Inventory is recorded at fair value based on the estimated selling price less costs to sell, including completion, disposal and holding period costs with a reasonable profit margin. Property and equipment is recorded at fair value using a combination of both the cost and market approaches for both the real and personal property acquired. Under the cost approach, consideration is given to the amount required to construct or purchase a new asset of equal value at current prices, with adjustments in value for physical deterioration, as well as functional and economic obsolescence. Under the market approach, recent transactions for similar types of assets are used as the basis for estimating fair value. For trademark/trade names and technology and other intangible assets, the estimated fair value is based on projected discounted future net cash flows using the relief-from-royalty method. For customer relationship intangible assets, the estimated fair value is based on projected discounted future cash flows using the excess earnings method. The relief-from-royalty and excess earnings method are both income approaches that utilize key assumptions such as forecasts of revenue and expenses over an extended period of time, royalty rate percentages, tax rates, and estimated costs of debt and equity capital to discount the projected cash flows. Stock-based Compensation. The Company recognizes compensation expense related to equity awards based on their fair values as of the grant date. For awards with only a service condition, expense is recognized ratably over the vesting period. Performance based equity awards may have targets tied to performance and/or market-based conditions. Market-based conditions are taken into consideration in determining the grant date fair value, and the related compensation expense is recognized regardless of whether the market condition is satisfied, provided the requisite service has been provided. For performance condition components, the Company periodically updates the probability that the performance conditions will be achieved and adjusts expense accordingly, reflecting the change from prior estimate, if any, in current period non-cash stock compensation expense. The disclosed number of awards granted considers only the targeted number of units until such time that the performance condition has been satisfied. If the performance conditions are not achieved, no award is earned. See Note 19, “Equity Awards,” for further information. Other Comprehensive Income (Loss). The Company refers to other comprehensive income (loss) as revenues, expenses, gains and losses that under accounting principles generally accepted in the United States of America are included in comprehensive income (loss) but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders' equity. Other comprehensive income (loss) is comprised of foreign currency translation adjustments, amortization of prior service costs and unrecognized gains and losses in actuarial assumptions for pension and postretirement plans and changes in unrealized gains and losses on derivative instruments.

Acquisitions Acquisitions (Notes)	12 Months Ended
Acquisitions Acquisitions (Notes)	Dec. 31, 2019
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions 2020 Acquisitions On December 15, 2020, the Company acquired Affaba & Ferrari Srl ("Affaba & Ferrari"), which specializes in the design, development and manufacture of precision caps and closures for food & beverage and industrial product applications, for an aggregate amount of approximately $98.4 million, net of cash acquired, subject to normal course adjustments, which are expected to be completed by mid-2021. The fair value of assets acquired and liabilities assumed included approximately $49.1 million of goodwill, $35.1 million of intangible assets, $9.4 million of net working capital, $17.4 million of property and equipment, and $12.6 million of net deferred tax liabilities. Affaba & Ferrari, which is reported in the Company's Packaging segment, operates out of a highly automated manufacturing facility and support office located in Borgo San Giovanni, Italy and historically generated approximately $34 million in annual revenue. On April 17, 2020, the Company acquired the Rapak® brand, including certain bag-in-box product lines and assets ("Rapak") for an aggregate amount of approximately $11.4 million. Rapak, which is reported in the Company's Packaging segment, has manufacturing locations in Indiana, California and Illinois, and historically generated approximately $30 million in annual revenue. On February 27, 2020, the Company acquired RSA Engineered Products ("RSA"), a manufacturer of complex, highly-engineered and proprietary ducting, connectors and related products for air management systems used in aerospace and defense applications, for an aggregate amount of approximately $83.7 million, net of cash acquired. The fair value of assets acquired and liabilities assumed included approximately $43.3 million of goodwill, $36.9 million of intangible assets, $10.1 million of net working capital, $2.1 million of property and equipment, and $8.7 million of net deferred tax liabilities. RSA, which is reported in the Company's Aerospace segment, is located in Simi Valley, California and historically generated approximately $30 million in annual revenue. 2019 Acquisitions In April 2019, the Company acquired Taplast S.p.A. ("Taplast"), a designer and manufacturer of dispensers, closures and containers for the beauty and personal care, household, and food and beverage packaging end markets, for an aggregate amount of approximately $44.7 million, net of cash acquired. With manufacturing locations in both Italy and Slovakia, Taplast serves end markets in Europe and North America and historically generated approximately $32 million in annual revenue. Taplast is reported in the Company's Packaging segment. In January 2019, the Company acquired Plastic Srl, a manufacturer of single-bodied and assembled polymeric caps and closures for use in home care products, for an aggregate amount of approximately $22.4 million, net of cash acquired. Located in Italy, Plastic Srl serves the home care market throughout Italy and other European countries and historically generated approximately $12 million in annual revenue. Plastic Srl is reported in the Company's Packaging segment.

Discontinued Operations Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

On December 20, 2019, the Company completed the sale of Lamons to two wholly-owned subsidiaries of an investment fund sponsored by First Reserve, pursuant to an Asset and Stock Purchase Agreement dated as of November 1, 2019 (the “Purchase Agreement”), for a purchase price of $136.8 million.

The Company recognized net cash proceeds of approximately $112.7 million, which represented the purchase price, less estimated tax payments of approximately $20.9 million, transaction costs of approximately $3.2 million. The Company recorded a pre-tax gain on sale of approximately $38.9 million, which includes the recognition of previously deferred non-cash foreign currency translation losses of approximately $12.4 million.

The Company determined that Lamons met the criteria to be classified as a discontinued operation. As a result, the historical results for Lamons are reported in the accompanying consolidated statement of operations as a discontinued operation.

Results of discontinued operations are summarized as follows (dollars in thousands):


	Year ended December 31,
	2019		2018
Net sales	$	182,590	$	172,110
Cost of sales	(138,100)		(128,100)
Gross profit	44,490		44,010
Selling, general and administrative expenses	(32,920)		(30,590)
Net gain (loss) on dispositions of assets	38,900		(160)
Operating profit	50,470		13,260

Other income (expense), net	(30)		360
Other income (expense), net	(30)		360
Income from discontinued operations, before income taxes	50,440		13,620
Income tax expense	(13,760)		(4,030)
Income from discontinued operations, net of tax	$	36,680	$	9,590

Restructuring and Related Activities	12 Months Ended
Restructuring and Related Activities	Dec. 31, 2020
Realignment Actions [Abstract]
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	Realignment ActionsDuring 2020, the Company executed certain realignment actions, primarily in its Aerospace and Specialty Products segments, in response to reductions in current and expected future end-market demand. The Company recorded non-cash charges of approximately $13.8 million related to inventory reductions, primarily as a result of a strategic decision in its Arrow Engine division to narrow its product line focus. The Company also recorded non-cash charges of approximately $2.3 million related to certain production equipment removed from service given reduced demand levels. In addition, the Company reduced its employment levels given lower customer demand, incurring approximately $3.8 million in severance charges, of which approximately $3.7 million was paid by December 31, 2020. During 2020, approximately $17.1 million of these charges were included in cost of sales and approximately $2.8 million were included in selling, general and administrative expenses in the accompanying consolidated statement of operations.

Revenue Revenue (Notes)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue

The following table presents the Company’s disaggregated net sales by primary market served (dollars in thousands):


	Year ended December 31,
Customer End Markets	2020		2019		2018
Consumer Products	$	402,080	$	307,640	$	276,740
Aerospace & Defense	167,740		194,110		185,920
Industrial	200,150		221,780		242,370

Total net sales	$	769,970	$	723,530	$	705,030

The Company’s Packaging segment earns revenues from the consumer products (comprised of the beauty and personal care, home care, food and beverage, pharmaceutical and nutraceutical submarkets) and industrial markets. The Aerospace segment earns revenues from the aerospace & defense market (comprised of commercial, regional and business jet and military submarkets). The Specialty Products segment earns revenues from a variety of submarkets within the industrial market.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2020

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Cash and Cash Equivalents

Cash and cash equivalents consists of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Cash and cash equivalents - unrestricted	$	62,790	$	172,470
Cash - restricted	11,160		—
Total cash and cash equivalents	$	73,950	$	172,470

During 2020, the Company placed cash on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit. In prior years, the Company used a portion of its credit agreement as collateral for letters of credit, which decreased availability under its revolving credit facility. See Note 13, "Long-term Debt," for further information on the Company's credit agreement.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

The Company performed a qualitative assessment as part of its 2020, 2019 and 2018 annual impairment tests (October 1 annual test date) for all reporting units, which included a review of the Company’s market capitalization. Based on results of the qualitative assessments for the 2020, 2019 and 2018 annual impairment tests, the Company determined there were no indications that the fair value of a reporting unit was less than its carrying amount; therefore, the Company determined that quantitative goodwill impairment tests were not required.

During the third quarter of 2020, as a result of a decline in its aerospace-related business' financial results, a significant reduction in its financial projections for the remainder of 2020 compared with prior projections, and uncertainty around the duration and magnitude of the impact of the COVID-19 pandemic on future financial results given their dependence on future levels of air travel and new aircraft builds, the Company determined there was a triggering event requiring an interim quantitative goodwill impairment assessment of each of its two aerospace-related reporting units: Aerospace Fasteners and Aerospace Engineered Products.

In preparing the quantitative analysis, the Company utilized both income and market-based approaches. The income-based approach was conducted using the discounted cash flow method, for which management updated its internal five-year forecast, and reflected its current best estimates of when, and at what level, a recovery of air travel, new aircraft builds, and resulting customer orders would occur and the related impact on each reporting unit's future sales, earnings and cash flows. Assumptions in estimating the future cash flows were based on Level 3 inputs under the fair value hierarchy. The Company also selected appropriate terminal growth rates as well as discount rates, which considered various factors including the level of inherent risk in achieving the forecast based on prior history and current market conditions. The market-based approach considered potentially comparable publicly traded companies and transactions within the aerospace industry and applied their trading multiples to management's forecast estimates.

Upon completion of the quantitative goodwill impairment tests, the Company determined that the carrying values of the Aerospace Fasteners and Aerospace Engineered Products reporting units exceeded their fair values, resulting in goodwill impairment charges of approximately $70.8 million in its Aerospace Fasteners reporting unit and approximately $56.0 million in its Aerospace Engineered Products reporting unit. Following the impairment charges, the Aerospace Fasteners reporting unit has $62.9 million of remaining goodwill, while the Aerospace Engineered Products reporting unit has no remaining goodwill. The Company notes that a 1% change in the discount rate would have impacted the total goodwill impairment charge by approximately $20 million, while a 0.5% change in the terminal growth rate would have impacted the total goodwill impairment charge by approximately $5 million. If the future financial results of the aerospace-related businesses significantly differ from the assumptions inherent in this analysis, the Company may be subject to further impairment charges.

In the first quarter of 2020, the Company began reporting its machined components operations within the Aerospace segment. These operations were previously reported in the Company's Specialty Products segment. As a result of the reporting structure change, goodwill of approximately $12.7 million was reassigned from the Specialty Products segment to the Aerospace segment.

Changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows (dollars in thousands):


					Specialty
	Packaging		Aerospace		Products		Total
Balance, December 31, 2018	$	163,660	$	146,430	$	6,560	$	316,650
Goodwill from acquisitions	18,400		—		—		18,400

Goodwill reassigned in segment realignment	—		(12,740)		12,740		—
Foreign currency translation and other	(410)		—		—		(410)
Balance, December 31, 2019	$	181,650	$	133,690	$	19,300	$	334,640
Goodwill from acquisitions	49,130		43,260		—		92,390
Impairment charge	—		(126,840)		—		(126,840)
Goodwill reassigned in segment realignment	—		12,740		(12,740)		—
Foreign currency translation and other	3,780		—		—		3,780
Balance, December 31, 2020	$	234,560	$	62,850	$	6,560	$	303,970

Other Intangible Assets

For the purposes of the Company's 2020, 2019 and 2018 annual indefinite-lived intangible asset impairment tests (as of October 1), the Company performed a qualitative assessment to determine whether it was more likely than not that the fair values of the indefinite-lived intangible assets were less than the carrying values. Based on the qualitative assessment performed, the Company did not believe that it is more likely than not that the fair values of each of its indefinite-lived intangible assets were less than the carrying values; therefore, a fair value calculation of the indefinite-lived intangible assets was not required for the 2020, 2019 and 2018 annual indefinite-lived intangible asset impairment tests.

During the third quarter of 2020, as a result of the significant forecast reduction in the Company's aerospace-related businesses, the Company also performed an interim quantitative assessment for the indefinite-lived intangible assets within the Aerospace segment, using the relief-from-royalty method. Significant management assumptions used under the relief-from-royalty method reflected the Company's current assessment of the risks and uncertainties associated with the aerospace industry. Upon completion of the quantitative impairment test, the Company determined that certain of the Company's aerospace-related trade names had carrying values that exceeded their fair values, and therefore recorded impairment charges of approximately $7.8 million.

The gross carrying amounts and accumulated amortization of the Company's other intangibles as of December 31, 2020 and 2019 are summarized below (dollars in thousands):


	As of December 31, 2020				As of December 31, 2019
Intangible Category by Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships, 5 - 12 years	$	122,970	$	(59,470)	$	73,860	$	(49,910)
Customer relationships, 15 - 25 years	122,280		(62,450)		122,280		(56,010)
Total customer relationships	245,250		(121,920)		196,140		(105,920)
Technology and other, 1 - 15 years	57,180		(32,800)		52,430		(29,790)
Technology and other, 17 - 30 years	43,300		(39,450)		43,300		(37,620)
Total technology and other	100,480		(72,250)		95,730		(67,410)
Indefinite-lived intangible assets:
Trademark/Trade names	54,640		—		42,850		—
Total other intangible assets	$	400,370	$	(194,170)	$	334,720	$	(173,330)

Amortization expense related to intangible assets as included in the accompanying consolidated statement of operations is summarized as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Technology and other, included in cost of sales	$	4,930	$	4,780	$	4,890
Customer relationships, included in selling, general and administrative expenses	15,820		13,850		13,370
Total amortization expense	$	20,750	$	18,630	$	18,260

Estimated amortization expense for the next five fiscal years beginning after December 31, 2020 is as follows (dollars in thousands):


Year ended December 31,	Estimated Amortization Expense
2021		$	21,790
2022		$	18,230
2023		$	16,330
2024		$	14,830
2025		$	14,480

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Finished goods	$	78,010	$	68,350
Work in process	29,680		30,560
Raw materials	41,690		33,750
Total inventories	$	149,380	$	132,660

Property and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment consists of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Land and land improvements	$	20,040	$	19,110
Building and building improvements	91,970		84,880
Machinery and equipment	384,010		326,990
	496,020		430,980
Less: Accumulated depreciation	242,960		216,650
Property and equipment, net	$	253,060	$	214,330

Depreciation expense as included in the accompanying consolidated statement of operations is as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Depreciation expense, included in cost of sales	$	27,920	$	23,700	$	20,890
Depreciation expense, included in selling, general and administrative expense	1,100		1,170		1,340
Total depreciation expense	$	29,020	$	24,870	$	22,230

Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Accrued payroll	$	23,140	$	16,390
High deductible insurance	4,980		5,720
Other	32,420		19,910
Total accrued liabilities	$	60,540	$	42,020

Long-term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-term debt

Long-term Debt

The Company's long-term debt consists of the following (dollars in thousands):


	December 31, 2020		December 31, 2019
4.875% Senior Notes due October 2025	$	300,000	$	300,000
Credit Agreement	50,450		—

Debt issuance costs	(4,160)		(5,310)


Long-term debt, net	$	346,290	$	294,690

Senior Notes

The Company has $300.0 million aggregate principal amount of 4.875% senior notes outstanding due October 15, 2025 ("Senior Notes"). The Senior Notes accrue interest at a rate of 4.875% per annum, payable semi-annually in arrears on April 15 and October 15. The payment of principal and interest is jointly and severally guaranteed, on a senior unsecured basis, by certain subsidiaries of the Company (each a "Guarantor" and collectively the "Guarantors"). The Senior Notes are pari passu in right of payment with all existing and future senior indebtedness and subordinated to all existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness.

The Company may redeem all or part of the Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if redeemed during the twelve-month period beginning on October 15 of the years indicated below:


Year	Percentage
2020	102.438	%
2021	101.219	%
2022 and thereafter	100.000	%

Credit Agreement

The Company is party to a credit agreement ("Credit Agreement") consisting of a $300.0 million senior secured revolving credit facility, which permits borrowings denominated in specific foreign currencies, subject to a $125.0 million sub limit, maturing on September 20, 2022 and is subject to interest at London Interbank Offered Rate ("LIBOR") plus 1.50%. The interest rate spread is based upon the leverage ratio, as defined, as of the most recent determination date.

The Credit Agreement also provides incremental revolving credit facility commitments in an amount not to exceed the greater of $200.0 million and an amount such that, after giving effect to such incremental commitments and the incurrence of any other indebtedness substantially simultaneously with the making of such commitments, the senior secured net leverage ratio, as defined, is no greater than 3.00 to 1.00. The terms and conditions of any incremental revolving credit facility commitments must be no more favorable than the existing credit facility.

The Company's revolving credit facility allows for the issuance of letters of credit, not to exceed $40.0 million in aggregate. During 2020, the Company placed cash on deposit with a financial institution to be held as cash collateral for the Company's outstanding letters of credit; therefore, as of December 31, 2020, the Company had no letters of credit issued against its revolving credit facility. See Note 8, "Cash and Cash Equivalents," for further information on its cash deposits. At December 31, 2020, the Company had $50.5 million outstanding under its revolving credit facility and had $249.5 million potentially available. At December 31, 2019, the Company had no amounts outstanding under its revolving credit facility and had $283.9 million potentially available after giving effect to approximately $16.1 million of letters of credit issued and outstanding. The Company's borrowing capacity was not reduced by leverage restrictions contained in the Credit Agreement as of December 31, 2020 and December 31, 2019.

The Company previously drew $150 million on its revolving credit facility in March 2020 to defend against potential uncertainty or liquidity issues in the financial markets as a result of the COVID-19 pandemic, but repaid this amount during second quarter 2020.

The debt under the Credit Agreement is an obligation of the Company and certain of its domestic subsidiaries and is secured by substantially all of the assets of such parties. Borrowings under the $125.0 million (equivalent) foreign currency sub limit of the $300.0 million senior secured revolving credit facility are secured by a cross-guarantee amongst, and a pledge of the assets of, the foreign subsidiary borrowers that are a party to the agreement. The Credit Agreement also contains various negative and affirmative covenants and other requirements affecting the Company and its subsidiaries, including the ability to, subject to certain exceptions and limitations, incur debt, liens, mergers, investments, loans, advances, guarantee obligations, acquisitions, assets dispositions, sale-leaseback transactions, hedging agreements, dividends and other restricted payments, transactions with affiliates, restrictive agreements and amendments to charters, bylaws, and other material documents. The terms of the Credit Agreement also require the Company and its restricted subsidiaries to meet certain restrictive financial covenants and ratios computed quarterly, including a maximum total net leverage ratio (total consolidated indebtedness plus outstanding amounts under any accounts receivable securitization facility, less the aggregate amount of certain unrestricted cash and unrestricted permitted investments, as defined, over consolidated EBITDA, as defined), a maximum senior secured net leverage ratio (total consolidated senior secured indebtedness, less the aggregate amount of certain unrestricted cash and unrestricted permitted investments, as defined, over consolidated EBITDA, as defined) and a minimum interest expense coverage ratio (consolidated EBITDA, as defined, over the sum of consolidated cash interest expense, as defined, and preferred dividends, as defined). At December 31, 2020, the Company was in compliance with the financial covenants contained in the Credit Agreement.

Long-term Debt Maturities

Future maturities of the face value of long-term debt at December 31, 2020 are as follows (dollars in thousands):


Year Ending December 31:	Future Maturities
2021	$	—
2022	50,450
2023	—
2024	—
2025	300,000
Thereafter	—
Total	$	350,450

Fair Value of Debt

The valuations of the Senior Notes and revolving credit facility were determined based on Level 2 inputs under the fair value hierarchy, as defined. The carrying amounts and fair values were as follows (dollars in thousands):


	December 31, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	300,000	$	305,630	$	300,000	$	309,000
Revolving credit facility	50,450		50,450		—		—

Debt Issuance Costs

The Company's unamortized debt issuance costs approximated $4.2 million and $5.3 million at December 31, 2020 and 2019, respectively, and are included as a direct reduction from the related debt liability in the accompanying consolidated balance sheet. These amounts consisted primarily of legal, accounting and other transaction advisory fees as well as facility fees paid to the lenders. Amortization expense for these items was approximately $1.2 million, $1.1 million and $1.3 million in 2020, 2019 and 2018, respectively, and is included in interest expense in the accompanying consolidated statement of operations.

Derivative Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivatives Designated as Hedging Instruments

The Company uses cross-currency swap contracts to hedge its net investment in Euro-denominated assets against future volatility in the exchange rate between the U.S. dollar and the Euro. By doing so, the Company synthetically converts a portion of its U.S. dollar-based long-term debt into Euro-denominated long-term debt. At inception, the cross-currency swaps were designated as net investment hedges.

In November 2020, the Company entered into additional cross-currency swap agreements at notional amounts declining from $50.0 million to $25.0 million over the contract period ending April 15, 2025. Under the terms of the swap agreements, the Company is to receive net interest payments at a fixed rate of approximately 0.8% of the notional amount. As of December 31, 2020, the notional amount of these cross-currency swaps was $50.0 million.

In October 2018, the Company entered into cross-currency swap agreements at notional amounts declining from $125.0 million to $75.0 million over the contract period ending October 15, 2023. Under the terms of the swap agreements, the Company is to receive net interest payments at a fixed rate of approximately 2.9% of the notional amount. As of December 31, 2020, the notional amount of these cross-currency swaps was $100.0 million.

In October 2018, immediately prior to entering into the new cross-currency swap agreements, the Company terminated its existing cross-currency swap agreements, de-designating the swaps as net investment hedges and receiving approximately $1.1 million of cash.

As of December 31, 2020 and 2019, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands):

Asset / (Liability) Derivatives

Derivatives designated as hedging instruments

Balance Sheet Caption

December 31, 2020

December 31, 2019

Net Investment Hedges

Cross-currency swaps

Other assets

—

4,460

Cross-currency swaps

Other long-term liabilities

(5,000)

—

The following table summarizes the income recognized in AOCI on derivative contracts designated as hedging instruments as of December 31, 2020 and 2019, and the amounts reclassified from AOCI into earnings for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands):


	Amount of Income (Loss) Recognized in AOCI on Derivative (Effective Portion, net of tax)				Location of Loss Reclassified from AOCI into Earnings (Effective Portion)	Amount of Loss Reclassified from AOCI into Earnings
	As of December 31,					Year ended December 31,
	2020		2019			2020		2019		2018

Net Investment Hedges
Cross-currency swaps	$	(3,580)	$	4,230	Other expense, net	$	—	$	—	$	—

Over the next 12 months, the Company does not expect to reclassify any pre-tax deferred amounts from AOCI into earnings.

Derivatives Not Designated as Hedging Instruments

As of December 31, 2020, the Company was party to foreign currency exchange forward contracts to economically hedge changes in foreign currency rates with notional amounts of approximately $96.3 million. The Company uses foreign exchange contracts to mitigate the risk associated with fluctuations in currency rates impacting cash flows related to certain of its receivables, payables and intercompany transactions denominated in foreign currencies. The foreign exchange contracts primarily mitigate currency exposures between the U.S. dollar and the Euro, British pound, Mexican peso and the Chinese yuan, and have various settlement dates through April 2021. These contracts are not designated as hedging instruments; therefore, gains and losses on these contracts are recognized each period directly into the consolidated statement of operations.

The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of operations (dollars in thousands):


		Amount of Loss Recognized in Earnings on Derivatives
		Year ended December 31,
	Location of Loss Recognized in Earnings on Derivatives	2020		2019		2018
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other income (expense), net	$	(470)	$	(600)	$	—

Fair Value of Derivatives

The fair value of the Company's derivative instruments are estimated using an income approach based on valuation techniques to convert future amounts to a single, discounted amount. Estimates of the fair value of the Company's cross-currency swaps use observable inputs such as interest rate yield curves and forward currency exchange rates. Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019 are as follows (dollars in thousands):


Description	Frequency	Asset / (Liability)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2020
Cross-currency swaps	Recurring	$	(5,000)	$	—	$	(5,000)	$	—
Foreign exchange contracts	Recurring	$	140	$	—	$	140	$	—
December 31, 2019
Cross-currency swaps	Recurring	$	4,460	$	—	$	4,460	$	—
Foreign exchange contracts	Recurring	$	(770)	$	—	$	(770)	$	—

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases of Lessee Disclosure

Leases

The Company leases certain equipment and facilities under non-cancelable operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term.

The components of lease expense are as follows (dollars in thousands):


	Year ended December 31, 2020		Year ended December 31, 2019
Operating lease cost	$	7,870	6,380
Short-term, variable and other lease costs	1,540		1,140
Total lease cost	$	9,410	$	7,520

Maturities of lease liabilities are as follows (dollars in thousands):


Year ended December 31,	Operating Leases(a)
2021	$	8,070
2022	7,250
2023	6,340
2024	5,120
2025	4,400
Thereafter	12,700
Total lease payments	43,880
Less: Imputed interest	(5,530)
Present value of lease liabilities	$	38,350

__________________________

(a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

The weighted-average remaining term of the Company's operating leases as of December 31, 2020 is approximately 6.8 years. The weighted-average discount rate as of December 31, 2020 is approximately 4.4%.

Cash paid for amounts included in the measurement of operating lease liabilities was approximately $7.9 million and $6.4 million during 2020 and 2019, respectively, and is included in cash flows provided by operating activities in the consolidated statement of cash flows.

Right-of-use assets obtained in exchange for lease liabilities were approximately $14.0 million and $1.4 million during 2020 and 2019, respectively, primarily due to acquisitions.

Rental expense for operating leases as classified under prior authoritative lease guidance for the Company was approximately $5.8 million in 2018.

Other Long-term Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Liabilities Disclosure [Text Block]

Other Long-term Liabilities

Other long-term liabilities consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Non-current asbestos-related liabilities	$	26,170	$	6,200
Other long-term liabilities	43,520		34,610
Total other long-term liabilities	$	69,690	$	40,810

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Environmental

The Company is subject to increasingly stringent environmental laws and regulations, including those relating to air emissions, wastewater discharges and chemical and hazardous waste management and disposal. Some of these environmental laws hold owners or operators of land or businesses liable for their own and for previous owners' or operators' releases of hazardous or toxic substances or wastes. Other environmental laws and regulations require the obtainment and compliance with environmental permits. To date, costs of complying with environmental, health and safety requirements have not been material. However, the nature of the Company's operations and the long history of industrial activities at certain of the Company's current or former facilities, as well as those acquired, could potentially result in material environmental liabilities.

While the Company must comply with existing and pending climate change legislation, regulation and international treaties or accords, current laws and regulations have not had a material impact on the Company's business, capital expenditures or financial position. Future events, including those relating to climate change or greenhouse gas regulation, could require the Company to incur expenses related to the modification or curtailment of operations, installation of pollution control equipment or investigation and cleanup of contaminated sites.

Asbestos

As of December 31, 2020, the Company was a party to 337 pending cases involving an aggregate of 4,655 claimants primarily alleging personal injury from exposure to asbestos containing materials formerly used in gaskets (both encapsulated and otherwise) manufactured or distributed by Lamons and certain other related subsidiaries for use primarily in the petrochemical refining and exploration industries. The following chart summarizes the number of claims, number of claims filed, number of claims dismissed, number of claims settled, the average settlement amount per claim and the total defense costs, at the applicable date and for the applicable periods:


	Claims pending at beginning of period	Claims filed during period	Claims dismissed during period	Claims settled during period	Claims pending at end of period	Average settlement amount per claim during period		Total defense costs during period
Fiscal year ended December 31, 2020	4,759	219	287	36	4,655	$	18,314	$	2,130,000
Fiscal year ended December 31, 2019	4,820	143	172	32	4,759	$	16,616	$	2,250,000
Fiscal year ended December 31, 2018	5,256	171	564	43	4,820	$	7,191	$	2,260,000

In addition, the Company acquired various companies to distribute its products that had distributed gaskets of other manufacturers prior to acquisition. The Company believes that many of the pending cases relate to locations at which none of its gaskets were distributed or used.

The Company may be subjected to significant additional asbestos-related claims in the future, and will aggressively defend or reasonably resolve, as appropriate. The cost of settling cases in which product identification can be made may increase, and the Company may be subjected to further claims in respect of the former activities of its acquired gasket distributors. The cost of claims varies as claims may be initially made in some jurisdictions without specifying the amount sought or by simply stating the requisite or maximum permissible monetary relief, and may be amended to alter the amount sought. The large majority of claims do not specify the amount sought. Of the 4,655 claims pending at December 31, 2020, 40 set forth specific amounts of damages (other than those stating the statutory minimum or maximum). At December 31, 2020, of the 40 claims that set forth specific amounts, there were no claims seeking specific amounts for punitive damages. Below is a breakdown of the compensatory damages sought for those claims seeking specific amounts:

Compensatory

Range of damages sought (in millions)

$0.0 to $0.6

$0.6 to $5.0

$5.0+

Number of claims

—

Relatively few claims have reached the discovery stage and even fewer claims have gone past the discovery stage. Total settlement costs (exclusive of defense costs) for all such cases, some of which were filed over 25 years ago, have been approximately $10.0 million. All relief sought in the asbestos cases is monetary in nature. Based on the settlements made to date and the number of claims dismissed or withdrawn for lack of product identification, the Company believes that the relief sought (when specified) does not bear a reasonable relationship to its potential liability.

There has been significant volatility in the historical number of claim filings and costs to defend, with previous claim counts and spend levels much higher than current levels. Management believes this volatility was associated more with tort reform, plaintiff practices and state-specific legal dockets than the Company’s underlying asbestos-related exposures. In the past three years, however, the number of new claim filings, and costs to defend, have become much more consistent, ranging between 143 to 173 new claims per year and total defense costs ranging between $2.2 million and $2.3 million.

The higher degree of consistency in census data and spend levels, as well as lower claim activity levels and an evolving defense strategy, has allowed the Company to more effectively and efficiently manage claims, making process or local counsel arrangement improvements where possible. Given the consistency of activity over a multi-year period, the Company believed a trend may have formed where it could be possible to reasonably estimate its future cash exposure for all asbestos-related activity with an adequate level of precision. As such, the Company commissioned an actuary to help evaluate the nature and predictability of its asbestos-related costs, and provide an actuarial range of estimates of future exposures. Based upon its review of the actuarial study, which was completed in June 2020 using data as of December 31, 2019 and which projected spend levels through a terminal year of 2064, the Company affirmed its belief that it now has the ability to reasonably estimate its future asbestos-related exposures for pending as well as unknown future claims.

During the second quarter of 2020, the Company elected to change its method of accounting for asbestos-related defense costs from accruing for probable and reasonably estimable defense costs associated with known claims expected to settle to accrue for all future defense costs for both known and unknown claims, which the Company now believes are reasonably estimable. The Company believes this change is preferable, as asbestos-related defense costs represent expenditures related to legacy activities that do not contribute to current or future revenue generating activities, and recording an estimate of the full liability for asbestos-related costs, where estimable with reasonable precision, provides a more complete assessment of the liability associated with resolving asbestos-related claims.

This accounting change has been reflected as a change in accounting estimate effected by a change in accounting principle. In connection with this second quarter 2020 change, the Company recorded a non-cash, pre-tax charge for asbestos-related costs of approximately $23.4 million which is included in selling, general and administrative expenses in the accompanying consolidated statement of operations.

Following the change in accounting estimate, the Company’s liability for asbestos-related claims will be based on a study from the Company’s third-party actuary, the Company's review of the study, as well as the Company’s own review of asbestos claims and claim resolution activity. The study from the Company’s actuary, based on data as of December 31, 2019, provided for a range of possible future liability from $31.5 million to $43.3 million. The Company did not believe any amount within the range of potential outcomes represented a better estimate than another given the many factors and assumptions inherent in the projections, and therefore recorded the $23.4 million charge to increase the liability estimate to $31.5 million, at the low-end of the range. As of December 31, 2020, the Company’s total asbestos-related liability is $28.7 million, and is included in accrued liabilities and other long-term liabilities, respectively, in the accompanying consolidated balance sheet.

The Company’s primary insurance, which covered approximately 40% of historical costs related to settlement and defense of asbestos litigation, expired in November 2018, upon which the Company became solely responsible for defense costs and indemnity payments. The Company is party to a coverage-in-place agreement (entered into in 2006) with its first level excess carriers regarding the coverage to be provided to the Company for asbestos-related claims. The coverage-in-place agreement makes asbestos defense costs and indemnity insurance coverage available to the Company that might otherwise be disputed by the carriers and provides a methodology for the administration of such expenses. The Company will continue to be solely responsible for defense costs and indemnity payments prior to the commencement of coverage under this agreement, the duration of which would be subject to the scope of damage awards and settlements paid. Based upon the Company’s review of the actuarial study, the Company does not believe it is probable that it will reach the threshold of qualified future settlements required to commence excess carrier insurance coverage under the coverage-in-place agreement.

While the Company recorded a significant non-cash charge in the six months ended June 30, 2020 in connection with its change in accounting policy, based upon the Company's experience to date, including the trend in annual defense and settlement costs incurred to date, and other available information (including the availability of excess insurance), the Company does not believe these cases will have a material adverse effect on its financial position or cash flows.

Claims and Litigation

The Company is subject to other claims and litigation in the ordinary course of business, but does not believe that any such claim or litigation will have a material adverse effect on its financial position and results of operations or cash flows.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

Pension and Profit-Sharing Benefits

The Company provides a defined contribution profit sharing plan for the benefit of substantially all the Company's domestic salaried and non-union hourly employees. The plan contains both contributory and noncontributory profit sharing arrangements, as defined. Aggregate charges included in the accompanying consolidated statement of operations under this plan for both continuing and discontinued operations were approximately $3.4 million, $4.6 million and $4.2 million in 2020, 2019 and 2018, respectively. Certain of the Company's non-U.S. and union hourly employees participate in defined benefit pension plans.

Plan Assets, Expenses and Obligations

Net periodic pension benefit expense recorded in the Company's consolidated statement of operations for defined benefit pension plans include the following components (dollars in thousands):


	Pension Benefit
	2020		2019		2018
Service cost	$	1,230	$	1,050	$	1,120
Interest cost	930		1,070		1,100
Expected return on plan assets	(1,450)		(1,400)		(1,520)

Settlements and curtailments	—		—		2,620
Amortization of net loss	890		580		860
Net periodic benefit expense	$	1,600	$	1,300	$	4,180

The service cost component of net periodic benefit expense is recorded in cost of goods sold and selling, general and administrative expenses, while non-service cost components are recorded in other expense, net in the accompanying consolidated statement of operations.

During 2018, the Company recognized one-time settlement and curtailment charges of approximately $2.6 million, of which approximately $2.5 million was due to the purchase of an annuity contract to transfer certain U.S. retiree defined benefit obligations to an insurance company. The annuity contract was funded by plan assets.

Actuarial valuations of the Company's defined benefit pension plans were prepared as of December 31, 2020, 2019 and 2018. Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:


	Pension Benefit
	2020		2019		2018
Discount rate for obligations	2.79	%	3.41	%	4.50	%
Discount rate for benefit costs	3.41	%	4.50	%	4.37	%
Rate of increase in compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.13	%	7.13	%	7.13	%

The Company utilizes a high-quality (Aa or greater) corporate bond yield curve as the basis for its domestic discount rate for its pension benefit plans. Management believes this yield curve removes the impact of including additional required corporate bond yields (potentially considered in the above-median curve) resulting from the uncertain economic climate that does not necessarily reflect the general trend in high-quality interest rates.

Weighted average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:


	Pension Benefit
	2020		2019		2018
Discount rate for obligations	1.50	%	2.10	%	3.00	%
Discount rate for benefit costs	2.10	%	3.00	%	2.60	%
Rate of increase in compensation levels	2.80	%	3.00	%	3.30	%
Expected long-term rate of return on plan assets	4.10	%	4.60	%	4.60	%

The following provides a reconciliation of the changes in the Company's defined benefit pension plans' projected benefit obligations and fair value of assets for each of the years ended December 31, 2020 and 2019 and the funded status as of December 31, 2020 and 2019 (dollars in thousands):


	Pension Benefit
	2020		2019
Changes in Projected Benefit Obligations
Benefit obligations at January 1	$	(36,580)	$	(30,300)
Service cost	(1,230)		(1,050)
Interest cost	(930)		(1,070)
Participant contributions	(60)		(60)
Actuarial loss (a)	(2,420)		(4,190)
Benefit payments	1,140		900



Change in foreign currency	(750)		(810)
Projected benefit obligations at December 31	$	(40,830)	$	(36,580)
Changes in Plan Assets
Fair value of plan assets at January 1	$	30,260	$	24,650
Actual return on plan assets	4,780		3,630
Employer contributions	1,140		1,930
Participant contributions	60		60
Benefit payments	(1,140)		(900)


Change in foreign currency	960		890
Fair value of plan assets at December 31	$	36,060	$	30,260
Funded status at December 31	$	(4,770)	$	(6,320)

__________________________

(a) The actuarial losses for the year ended December 31, 2020 and 2019 were primarily due to a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by other assumptions and experience gains.


	Pension Benefit
	2020		2019
Amounts Recognized in Balance Sheet
Other assets	$	4,470	$	1,690
Current liabilities	(340)		(330)
Noncurrent liabilities	(8,900)		(7,680)
Net liability recognized at December 31	$	(4,770)	$	(6,320)


	Pension Benefit
	2020		2019
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	170	$	190
Unrecognized net loss	11,470		13,240
Total accumulated other comprehensive loss recognized at December 31	$	11,640	$	13,430


	Accumulated Benefit Obligations				Projected Benefit Obligations
	2020		2019		2020		2019
Benefit Obligations at December 31,
Total benefit obligations	$	(38,410)	$	(34,460)	$	(40,830)	$	(36,580)
Plans with benefit obligations exceeding plan assets
Benefit obligations	$	(16,820)	$	(14,840)	$	(16,940)	$	(14,910)
Plan assets	$	7,700	$	6,890	$	7,700	$	6,890

The assumptions regarding discount rates and expected return on plan assets can have a significant impact on amounts reported for benefit plans. A 25 basis point change in benefit obligation discount rates or 50 basis point change in expected return on plan assets would have the following effect (dollars in thousands):


	Pension Benefit
	December 31, 2020 Benefit Obligation		2020 Expense
Discount rate
25 basis point increase	$	(1,580)	$	(110)
25 basis point decrease	$	1,760	$	110
Expected return on assets
50 basis point increase	N/A		$	(170)
50 basis point decrease	N/A		$	170

The Company expects to make contributions of approximately $3.6 million to fund its pension plans during 2021.

Plan Assets

The Company's overall investment goal is to provide for capital growth with a moderate level of volatility by investing assets in targeted allocation ranges. Specific long term investment goals include total investment return, diversity to reduce volatility and risk, and to achieve an asset allocation profile that reflects the general nature and sensitivity of the plans' liabilities. Investment goals are established after a comprehensive review of current and projected financial statement requirements, plan assets and liability structure, market returns and risks as well as special requirements of the plans. The Company reviews investment goals and actual results annually to determine whether stated objectives are still relevant and the continued feasibility of achieving the objectives.

The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2020 and 2019 and target allocations by class, were as follows:


	Domestic Pension						Foreign Pension
			Actual						Actual
	Target		2020		2019		Target		2020		2019
Equity securities	60	%	67	%	62	%	33	%	33	%	30	%
Fixed income	36	%	32	%	34	%	45	%	44	%	46	%
Diversified growth(a)	—	%	—	%	—	%	22	%	22	%	23	%
Cash and other	4	%	1	%	4	%	—		1	%	1	%
Total	100	%	100	%	100	%	100	%	100	%	100	%

________________________________________

(a) Diversified growth funds invest in a broad range of asset classes including equities, investment grade and high yield bonds, commodities, property, private equity, infrastructure and currencies.

Actual allocations to each asset vary from target allocations due to periodic investment strategy changes, market value fluctuations and the timing of benefit payments and contributions. The expected long-term rate of return for both the domestic and foreign plans' total assets is based on the expected return of each of the above categories, weighted based on the target allocation for each class. Actual allocation is reviewed regularly and investments are rebalanced to their targeted allocation range when deemed appropriate.

In managing the plan assets, the Company reviews and manages risk associated with the funded status risk, interest rate risk, market risk, liquidity risk and operational risk. Investment policies reflect the unique circumstances of the respective plans and include requirements designed to mitigate these risks by including quality and diversification standards.

The following table summarizes the level under the fair value hierarchy (see Note 3, "Summary of Significant Accounting Policies") that the Company's pension plan assets are measured, on a recurring basis as of December 31, 2020 (dollars in thousands):


	Total		Level 1		Level 2		Level 3
Plan assets subject to leveling
Investment funds
Equity securities	$	5,160	$	5,160	$	—	$	—
Fixed income	2,500		2,500		—		—
Cash and cash equivalents	310		310		—		—
Plan assets measured at net asset value(a)
Investment funds
Equity securities	9,180
Fixed income	12,880
Diversified growth	5,870
Cash and cash equivalents	160

Total	$	36,060	$	7,970	$	—	$	—

________________________________________

(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the fair value of plan assets.

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years (dollars in thousands):


	Pension Benefit
2021	$	1,160
2022	1,210
2023	1,240
2024	1,310
2025	1,350
Years 2026-2030	7,710

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Equity Awards

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Equity Awards

The Company maintains the following long-term equity incentive plans (collectively, the "Plans"):


Plan Names						Shares Approved for Issuance
TriMas Corporation 2017 Equity and Incentive Compensation Plan						2,000,000
TriMas Corporation Director Retainer Share Election Program						100,000

The Company previously maintained the 2011 Omnibus Incentive Compensation Plan, which was replaced by the TriMas Corporation 2017 Equity and Incentive Compensation Plan in 2017, such that, while existing grants remain outstanding until exercised, vested or canceled, no new shares may be issued under the plan.

Stock Options

The Company did not grant any stock options during 2020, 2019 and 2018. Information related to stock options as of and for the year ended December 31, 2020 is as follows:


	Number of Stock Options	Weighted Average Option Price		Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	150,000	$	17.87
Granted	—	—
Exercised	—	—
Cancelled	—	—
Expired	—	—
Outstanding at December 31, 2020	150,000	$	17.87	5.6	$	2,070,000

As of December 31, 2020, the 150,000 stock options outstanding were exercisable under the Company's long-term equity incentive plans and there was no unrecognized compensation cost related to stock options. No stock options vested during 2020 and 50,000 stock options vested during each of 2019 and 2018.

The Company recognized no stock-based compensation expense related to stock options during 2020 and approximately $0.1 million and $0.2 million of stock-based compensation expense related to stock options during 2019 and 2018, respectively. The stock-based compensation expense is included in selling, general and administrative expenses in the accompanying consolidated statement of operations.

Restricted Stock Units

The Company awarded the following restricted stock units ("RSUs") during 2020, 2019, and 2018:

•granted 190,650, 139,575, and 141,203 RSUs, respectively, to certain employees, which are subject only to a service condition and vest ratably over three years so long as the employee remains with the Company;

•granted 30,590, 25,872 and 25,830 RSUs, respectively, to its non-employee independent directors, which vest one year from date of grant so long as the director and/or Company does not terminate their service prior to the vesting date; and

•issued 3,673, 4,494 and 7,263 RSUs, respectively, related to director fee deferrals as certain of the Company's directors elected to defer all or a portion of their directors fees and to receive the amount in Company common stock at a future date.

The Company awarded the following RSUs during 2020:

•granted 31,816 RSUs to certain employees, which are subject only to a service condition and fully vest at the end of three years so long as the employee remains with the Company; and

•granted 2,558 RSUs to certain employees, which are subject only to a service condition and vest one year from the date of grant so long as the employee remains with the Company.

During 2020, the Company awarded 113,146 performance-based RSUs to certain key employees which vest three years from the grant date as long as the employee remains with the Company. These awards are earned 50% based upon the Company's achievement of an earnings per share compound annual growth rate ("EPS CAGR") metric over a period beginning January 1, 2020 and ending December 31, 2022. The remaining 50% of the awards are earned based on the Company's total shareholder return ("TSR") relative to the TSR of the common stock of a pre-defined industry peer-group, measured over the performance period. TSR is calculated as the Company's average closing stock price for the 20 trading days at the end of the performance period plus Company dividends, divided by the Company's average closing stock price for the 20 trading days prior to the start of the performance period. The Company estimates the grant-date fair value subject to a market condition using a Monte Carlo simulation model, using the following weighted average assumptions: risk-free rate of 0.56% and annualized volatility of 26.2%. Depending on the performance achieved for these two metrics, the amount of shares earned, if any, can vary for each metric from 0% of the target award to a maximum of 200% of the target award. The Company awarded 95,882 and 104,532 of similar performance-based RSUs in 2019 and 2018, respectively. For similar performance-based RSUs awarded in 2017, the Company attained 127.4% of the target on a weighted average basis, resulting in an increase of 27,567 shares during 2020.

In addition, the Company awarded 87,034 performance-based RSUs to certain key divisional employees which vest three years from the grant date as long as the employee remains with the Company. These awards are earned based upon the Company's stock price performance over the period from January 1, 2020 and ending December 31, 2022. The stock price achievement is calculated based on the Company's average closing stock price for each quarter end for the 20 trading days up to and including March 31, June 30, September 30, and December 31, 2022, respectively. The Company estimates the grant-date fair value subject to a market condition using a Monte Carlo simulation model, using the following weighted average assumptions: risk free rate of 0.85% and annualized volatility of 25.2%. Depending on the performance achieved for this metric, the amount of shares earned, if any, can vary from 0% of the target award to a maximum of 160% of the target award, although it automatically is earned at the target award level if the Company's stock price is equal to or greater than a specified stock price for either five consecutive trading days or 20 total trading days during the performance period.

Information related to restricted shares as of and for the year ended December 31, 2020 is as follows:


	Number of Unvested Restricted Shares	Weighted Average Grant Date Fair Value		Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	622,528	$	30.77
Granted	487,034	21.43
Vested	(302,924)	27.88
Cancelled	(21,670)	27.53
Outstanding at December 31, 2020	784,968	$	26.46	1.2	$	24,859,937

As of December 31, 2020, there was approximately $8.2 million of unrecognized compensation cost related to unvested restricted shares that is expected to be recorded over a weighted average period of 1.9 years.

The Company recognized stock-based compensation expense related to restricted shares of approximately $8.2 million, $5.7 million and $6.9 million in 2020, 2019 and 2018, respectively. The stock-based compensation expense is included in selling, general and administrative expenses in the accompanying statement of operations.

Earnings per Share Earnings per Share (Notes)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per Share

Net income is divided by the weighted average number of common shares outstanding during the year to calculate basic earnings per share. For the year ended December 31, 2020, no restricted shares or stock options were included in the computation of net income (loss) per share because to do so would be anti-dilutive. The following table summarizes the dilutive effect of RSUs and options to purchase common stock:


	Year ended December 31,
	2020	2019	2018
Weighted average common shares—basic	43,581,232	45,303,659	45,824,555
Dilutive effect of restricted stock units	—	224,946	242,204
Dilutive effect of stock options	—	66,549	103,705
Weighted average common shares—diluted	43,581,232	45,595,154	46,170,464

In March 2020, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $250 million in the aggregate. The initial authorization, approved in November 2015, authorized up to $50 million of purchases in the aggregate of its common stock. During 2020, 2019 and 2018, the Company purchased 1,582,049, 1,230,050 and 442,632 shares of its outstanding common stock for approximately $39.4 million, $36.7 million and $12.1 million, respectively. As of December 31, 2020, the Company has approximately $161.7 million remaining under the repurchase authorization.

Other Comprehensive Income (Notes)

12 Months Ended

Dec. 31, 2020

Other Comprehensive Income [Abstract]

Other Comprehensive Income

Changes in AOCI by component for the year ended December 31, 2020 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)
Net unrealized gains (losses) arising during the period (a)	670		(7,810)		6,880		(260)
Less: Net realized losses reclassified to net income (b)	(640)		—		—		(640)
Net current-period other comprehensive income (loss)	1,310		(7,810)		6,880		380

Balance, December 31, 2020	$	(8,620)	$	(3,580)	$	6,580	$	(5,620)

__________________________

(a) Defined benefit plans, net of income tax of $0.4 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $2.5 million. See Note 14, "Derivative Instruments," for further details.

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2019 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2018	$	(7,200)	$	940	$	(10,590)	$	(16,850)
Net unrealized gains (losses) arising during the period (a)	(1,870)		3,300		(2,060)		(630)
Less: Net realized losses reclassified to net income (b)	(400)		—		(12,350)		(12,750)
Net current-period other comprehensive income (loss)	(1,470)		3,300		10,290		12,120
Reclassification of stranded tax effects	(1,260)		(10)		—		(1,270)
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)

__________________________

(a) Defined benefit plans, net of income tax of $0.5 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $1.0 million. See Note 14, "Derivative Instruments," for further details.

(b) Defined benefit plans, net of income tax of $0.1 million. See Note 18, "Employee Benefit Plans," for additional details.

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

TriMas reports its operations in three segments: Packaging, Aerospace and Specialty Products. Each of these segments has discrete financial information that is regularly evaluated by TriMas’ president and chief executive officer (chief operating decision maker) in determining resource, personnel and capital allocation, as well as assessing strategy and performance. The Company utilizes its proprietary TriMas Business Model as its platform which is based upon a standardized set of processes to manage and drive results and strategy across its multi-industry businesses.

Within the Company's reportable segments, there are no individual products or product families for which reported net sales accounted for more than 10% of the Company's consolidated net sales. See below for more information regarding the types of products and services provided within each reportable segment:

Packaging – The Packaging segment, which consists primarily of the Rieke®, Taplast, Affaba & Ferrari, Stolz, and Rapak® brands, develops and manufactures a broad array of dispensing products (such as foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers), polymeric and steel caps and closures (such as food lids, flip-top closures, child resistance caps, beverage closures, drum and pail closures, flexible spouts, and agricultural closures), polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer products submarkets including, but not limited to, beauty and personal care, food and beverage, home care, and pharmaceutical and nutraceutical, as well as the industrial market.

Aerospace – The Aerospace segment, which includes the Monogram Aerospace Fasteners™, Allfast Fastening Systems®, Mac Fasteners™, RSA Engineered Products and Martinic Engineering™ brands, develops, qualifies and manufactures highly-engineered, precision fasteners, tubular products and assemblies for fluid conveyance, and machined products and assemblies to serve the aerospace and defense market.

Specialty Products – The Specialty Products segment, which includes the Norris Cylinder™ and Arrow® Engine brands, designs, manufactures and distributes highly-engineered steel cylinders, wellhead engines and compression systems for use within industrial markets.

Segment activity is as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Net Sales
Packaging	$	488,340	$	392,340	$	368,200
Aerospace	167,740		194,110		185,920
Specialty Products	113,890		137,080		150,910
Total	$	769,970	$	723,530	$	705,030
Operating Profit (Loss)
Packaging	$	93,990	$	80,770	$	84,590
Aerospace	(133,440)		28,950		27,290
Specialty Products	4,350		16,000		20,990
Corporate	(53,190)		(34,500)		(24,060)
Total	$	(88,290)	$	91,220	$	108,810
Capital Expenditures
Packaging	$	30,730	$	16,400	$	13,590
Aerospace	5,770		8,110		1,190
Specialty Products	3,890		5,090		3,750
Corporate(a)	90		70		4,890
Total	$	40,480	$	29,670	$	23,420
Depreciation and Amortization
Packaging	$	27,600	$	24,650	$	21,620
Aerospace	18,130		15,090		15,190
Specialty Products	3,910		3,480		3,400
Corporate	130		280		280
Total	$	49,770	$	43,500	$	40,490
Total Assets
Packaging	$	721,440	$	546,950	$	435,140
Aerospace	348,190		393,260		392,140
Specialty Products	65,520		77,250		82,610
Corporate	58,730		175,240		95,260
Subtotal from continuing operations	1,193,880		1,192,700		1,005,150
Discontinued operations	—		—		95,370
Total	$	1,193,880	$	1,192,700	$	1,100,520

________________________________________

(a) Corporate capital expenditures for the year ended December 31, 2018 are primarily related to purchases of machinery and equipment formerly held under operating leases. These purchased assets were subsequently transferred from Corporate to the segment utilizing the assets.

The following table presents the Company's net sales for each of the years ended December 31 and long-lived assets at each year ended December 31, attributed to each subsidiary's continent of domicile (dollars in thousands).


	As of December 31,
	2020				2019				2018
	Net Sales		Long-lived Assets		Net Sales		Long-lived Assets		Net Sales		Long-lived Assets
Non-U.S.
Europe	$	116,350	$	225,120	$	87,420	$	110,530	$	54,920	$	53,770
Asia Pacific	46,350		41,140		37,920		40,720		38,920		44,230
Other Americas	11,740		19,510		6,290		18,430		6,170		7,500
Total non-U.S.	174,440		285,770		131,630		169,680		100,010		105,500

Total U.S.	595,530		477,460		591,900		540,680		605,020		550,990
Total	$	769,970	$	763,230	$	723,530	$	710,360	$	705,030	$	656,490

The Company's export sales from the U.S. approximated $70.0 million, $74.1 million and $69.9 million in 2020, 2019 and 2018, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 31
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Disclosure

The Company's income (loss) before income taxes and income tax expense (benefit), each by tax jurisdiction, consists of the following (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Income (loss) before income taxes:
Domestic	$	(134,630)	$	52,190	$	64,670
Foreign	31,920		26,070		27,690
Total income (loss) before income taxes	$	(102,710)	$	78,260	$	92,360
Current income tax expense:
Federal	$	200	$	3,530	$	4,410
State and local	810		1,280		2,060
Foreign	7,750		7,070		6,200
Total current income tax expense	8,760		11,880		12,670
Deferred income tax expense (benefit):
Federal	(16,900)		4,890		4,570
State and local	(4,430)		500		1,310
Foreign	(10,380)		(950)		100
Total deferred income tax expense (benefit)	(31,710)		4,440		5,980
Income tax expense (benefit)	$	(22,950)	$	16,320	$	18,650

The components of deferred taxes are as follows (dollars in thousands):


	December 31, 2020		December 31, 2019
Deferred tax assets:
Accounts receivable	$	260	$	480
Inventories	5,080		4,390

Accrued liabilities and other long-term liabilities	19,190		12,210
Operating lease liability	8,950		6,790
Tax loss and credit carryforwards	20,760		9,200
Other	340		340
Gross deferred tax asset	54,580		33,410
Valuation allowances	(10,180)		(8,310)
Net deferred tax asset	44,400		25,100
Deferred tax liabilities:
Property and equipment	(24,140)		(20,650)
Right of use asset	(8,930)		(6,700)
Goodwill and other intangible assets	(16,230)		(13,250)
Investment in foreign affiliates, including withholding tax	(370)		(830)

Gross deferred tax liability	(49,670)		(41,430)
Net deferred tax liability	$	(5,270)	$	(16,330)

The following is a reconciliation of income tax expense (benefit) computed at the U.S. federal statutory rate to income tax expense (benefit) allocated to income (loss) before income taxes (dollars in thousands):


	Year ended December 31,
	2020			2019			2018
U.S. federal statutory rate	21		%	21		%	21		%
Tax at U.S. federal statutory rate	$	(21,570)		$	16,440		$	19,390
State and local taxes, net of federal tax benefit	(2,850)			970			2,730
Differences in statutory foreign tax rates	(1,500)			(870)			490
Change in recognized tax benefits	(920)			(920)			(560)
Goodwill and other intangible assets impairment	13,430			—			—

Nontaxable income	—			(570)			(940)


Research and manufacturing incentives	(2,130)			(1,160)			(1,740)

Net change in valuation allowance	(6,390)			3,580			280
Tax Reform Act	—			—			(400)

Other, net	(1,020)			(1,150)			(600)
Income tax expense (benefit)	$	(22,950)		$	16,320		$	18,650

During 2020, the Company undertook certain tax-planning actions with respect to intercompany debt restructuring within the group. These actions resulted in the recognition of an approximate $6.4 million deferred tax benefit related to an interest limitation carryforward.

The Company has recorded deferred tax assets on $43.4 million of various state operating loss carryforwards and $61.6 million of various foreign operating loss carryforwards. The majority of the state tax loss carryforwards expire between 2026 and 2032 and the majority of the foreign losses have indefinite carryforward periods.

The Company has not made a provision for U.S. or additional foreign withholding taxes related to investments in foreign subsidiaries that are indefinitely reinvested since any excess of the amount for financial reporting over the tax basis in these investments is not significant as of December 31, 2020.

Tax Reform

In December 2017, the Tax Cuts and Jobs Act ("Tax Reform Act") was signed into law, and, among the provisions, reduced the Federal statutory corporate income tax rate from 35% to 21% effective January 1, 2018, and implemented a territorial tax system, imposing a one-time tax on the deemed repatriation of undistributed earnings of non-U.S. subsidiaries ("Transition Tax"). The Transition Tax is payable over eight years beginning in 2019.

The Company recorded provisional expenses in 2017 related to the Transition Tax and finalized the measurement of the provisional expenses in 2018. In 2018, the Company recognized an approximate $1.1 million income tax benefit in connection with finalizing the revaluation of its net deferred tax assets following the filing of the Company's 2017 corporate income tax return, and recognized an approximate $0.7 million income tax expense related to finalizing the Transition Tax, resulting in a $0.4 million net reduction in 2018 to the $12.7 million provisional tax expense recorded in 2017.

Unrecognized Tax Benefits

The Company had approximately $1.6 million and $2.3 million of unrecognized tax benefits ("UTBs") as of December 31, 2020 and 2019, respectively. If the UTBs were recognized, the impact to the Company's effective tax rate would be to reduce reported income tax expense for the years ended December 31, 2020 and 2019 by approximately $1.4 million and $1.9 million, respectively.

A reconciliation of the change in the UTBs for the years ended December 31, 2020 and 2019 is as follows (dollars in thousands):


	Unrecognized Tax Benefits
Balance at December 31, 2018	$	3,020
Tax positions related to current year:
Additions	110
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(880)
Balance at December 31, 2019	$	2,250
Tax positions related to current year:
Additions	150
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(760)
Balance at December 31, 2020	$	1,640

In addition to the UTBs summarized above, the Company has recorded approximately $0.8 million and $1.4 million in potential interest and penalties associated with uncertain tax positions as of December 31, 2020 and 2019, respectively.

The Company is subject to U.S. federal, state and local, and certain non-U.S. income tax examinations for tax years 2013 through 2020. In addition, there are currently several state and foreign income tax examinations in process. The Company does not believe that the results of these examinations will have a significant impact on the Company's tax position or its effective tax rate.Management monitors changes in tax statutes and regulations and the issuance of judicial decisions to determine the potential impact to UTBs and is not aware of, nor does it anticipate, any subsequent events that could have a significant impact on the Company's financial position during the next twelve months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation. The accompanying consolidated financial statements include the accounts and transactions of TriMas and its subsidiaries. Intercompany transactions have been eliminated.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and other intangibles, valuation allowances for receivables, inventories and deferred income tax assets, valuation of derivatives, estimated future unrecoverable lease costs, reserves for asbestos and ordinary course litigation, assets and obligations related to employee benefits and estimated unrecognized tax benefits. Actual results may differ from such estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company considers cash on hand and on deposit and investments in all highly liquid debt instruments with initial maturities of three months or less to be cash and cash equivalents. Cash and cash equivalents also includes restricted cash held on deposit with a financial institution as cash collateral for the Company's outstanding letters of credit. See Note 8, "Cash and Cash Equivalents," for further details regarding the Company's cash and cash equivalents.
Receivables	Receivables. Receivables are presented net of allowances for doubtful accounts of approximately $2.1 million at each of December 31, 2020 and 2019. The Company monitors its exposure for credit losses and maintains allowances for doubtful accounts based upon the Company's best estimate of probable losses inherent in the accounts receivable balances. The Company does not believe that significant credit risk exists due to its diverse customer base.
Inventories	Inventories. Inventories are stated at the lower of cost or net realizable value, with cost determined using the first-in, first-out method. Direct materials, direct labor and allocations of variable and fixed manufacturing-related overhead are included in inventory cost.
Property and Equipment	Property and Equipment. Property and equipment additions, including significant improvements, are recorded at cost. Upon retirement or disposal of property and equipment, the cost and accumulated depreciation are removed from the accounts, and any gain or loss is included in the accompanying statement of operations. Repair and maintenance costs are charged to expense as incurred.
Depreciation and Amortization and Impairment of Long-Lived Assets and Definted-Lived Intangible Assets	Depreciation and Amortization. Depreciation is computed principally using the straight-line method over the estimated useful lives of the assets. Annual depreciation rates are as follows: building and land/building improvements three to 40 years, and machinery and equipment, three to 15 years. Capitalized debt issuance costs are amortized over the underlying terms of the related debt securities. Customer relationship intangibles are amortized over periods ranging from five to 25 years, while technology and other intangibles are amortized over periods ranging from one to 30 years. Impairment of Long-Lived Assets and Definite-Lived Intangible Assets. The Company reviews, on at least a quarterly basis, the financial performance of its businesses for indicators of impairment. In reviewing for impairment indicators, the Company also considers events or changes in circumstances such as business prospects, customer retention, market trends, potential product obsolescence, competitive activities and other economic factors. An impairment loss is recognized when the carrying value of an asset group exceeds the future net undiscounted cash flows expected to be generated by that asset group. The impairment loss recognized is the amount by which the carrying value of the asset group exceeds its fair value.
Goodwill and Indefinite-Lived Intangibles	Goodwill. The Company assesses goodwill for impairment on an annual basis (October 1 test date) by reviewing relevant qualitative and quantitative factors. More frequent evaluations may be required if the Company experiences changes in its business climate or as a result of other triggering events that take place. An impairment loss is recognized when the carrying value of a reporting unit's goodwill exceeds its fair value. The Company determines its reporting units at the individual operating segment level, or one level below, when there is discrete financial information available that is regularly reviewed by segment management to evaluate operating results. For purposes of the Company's 2020 goodwill impairment test, the Company had six reporting units, three of which had goodwill, within its three reportable segments. The Company begins its goodwill reviews by conducting a qualitative assessment, considering relevant events and circumstances that affect the fair value or carrying amount of a reporting unit. Such events and circumstances can include macroeconomic conditions, industry and market considerations, overall financial performance, entity and reporting unit specific events, and capital markets pricing. The Company considers the extent to which any identified adverse events and circumstances affect the comparison of a reporting unit's fair value with its carrying amount. The Company places more weight on the events and circumstances that most affect a reporting unit's fair value or the carrying amount of its net assets. The Company considers positive and mitigating events and circumstances that may affect its determination of whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company also considers recent valuations of its reporting units, including the difference between the most recent fair value estimate and the carrying amount. Each of these factors is considered by management in reaching its conclusion about whether a quantitative goodwill impairment test is necessary to estimate the fair value of its reporting units. If the Company concludes that conducting a quantitative assessment is required, it performs a quantitative goodwill impairment test. When conducting a quantitative goodwill impairment test, the Company determines the fair value of the reporting unit being evaluated utilizing a combination of three valuation techniques: discounted cash flow (income approach), market comparable method (market approach) and market capitalization (direct market data method). The income approach is based on management's operating plan and internal five-year forecast and utilizes forward-looking assumptions and projections, on a discounted basis, but considers factors unique to each reporting unit and related long-range plans that may not be comparable to other companies and that are not yet public. The market approach considers potentially comparable companies and transactions within the industries where the Company's reporting units participate, and applies their trading multiples to the financial projections of the Company's reporting units. This approach utilizes data from actual marketplace transactions, but reliance on its results is limited by difficulty in identifying companies that are specifically comparable to the Company's reporting units, considering the diversity of the Company's businesses, the relative sizes and levels of complexity. The Company also uses the direct market data method by comparing its book value and the estimates of fair value of the reporting units to the Company's market capitalization. Management uses this comparison as additional evidence of the fair value of the Company, as its market capitalization may be suppressed by other factors such as the control premium associated with a controlling shareholder, the Company's degree of leverage and the float of the Company's common stock. Management evaluates and weights the results based on a combination of the income and market approaches, and, in situations where the income approach results differ significantly from the market and direct data approaches, management re-evaluates and adjusts, if necessary, its assumptions. Based on the quantitative test, if it is determined that the carrying value of the reporting unit is higher than its fair value, goodwill is impaired and is written down to the fair value amount; however, the loss recognized will not exceed the total amount of goodwill allocated to the reporting unit. See Note 9, "Goodwill and Other Intangible Assets," for further details regarding the Company's goodwill impairment testing. Indefinite-Lived Intangibles. The Company assesses indefinite-lived intangible assets (primarily trademark/trade names) for impairment on an annual basis (October 1 test date) by reviewing relevant qualitative and quantitative factors. More frequent evaluations may be required if the Company experiences changes in its business climate or as a result of other triggering events that take place. An impairment loss is recognized when the carrying value of the asset exceeds its fair value. In conducting a qualitative assessment, the Company considers relevant events and circumstances to determine whether it is more likely than not that the fair values of the indefinite-lived intangible assets are less than the carrying values. In addition to the events and circumstances that the Company considers above in its qualitative analysis for potential goodwill impairment, the Company also considers legal, regulatory and contractual factors that could affect the fair value or carrying amount of the Company's indefinite-lived intangible assets. The Company also considers recent valuations of its indefinite-lived intangible assets, including the difference between the most recent fair value estimates and the carrying amounts. These factors are all considered by management in reaching its conclusion about whether it is more likely than not that the fair values of the indefinite-lived intangible assets are less than the carrying values. If management concludes that further testing is required, the Company performs a quantitative valuation to estimate the fair value of its indefinite-lived intangible assets. In conducting the quantitative impairment analysis, the Company determines the fair value of its indefinite-lived intangible assets using the relief-from-royalty method. The relief-from-royalty method involves the estimation of appropriate market royalty rates for the indefinite-lived intangible assets and the application of these royalty rates to forecasted net sales attributable to the intangible assets. The resulting cash flows are then discounted to present value, using a rate appropriately reflecting the risks inherent in the cash flows, which then is compared to the carrying value of the assets. If the carrying value exceeds fair value, an impairment is recorded. See Note 9, "Goodwill and Other Intangible Assets," for further details regarding the Company's indefinite-lived intangible asset impairment testing.
High Deductible Insurance	High Deductible Insurance. The Company generally has high deductible insurance programs for losses and liabilities related to workers' compensation, health and welfare claims and comprehensive general, product and vehicle liability. The Company is generally responsible for up to $0.8 million per occurrence under its retention program for workers' compensation, between $0.3 million and $1.5 million per occurrence under its retention programs for comprehensive general, product and vehicle liability, and has a $0.4 million per occurrence stop-loss limit with respect to its group medical plan. Total insurance limits under these retention programs vary by year for comprehensive general, product and vehicle liability and extend to the applicable statutory limits for workers' compensation. Reserves for claims losses, including an estimate of related litigation defense costs, are recorded based upon the Company's estimates of the aggregate liability for claims incurred using actuarial assumptions about future events. Changes in assumptions for factors such as medical costs and actual experience could cause these estimates to change.
Pension Plans and Postretirement Benefits Other Than Pensions	Pension Plans. The Company engages independent actuaries to compute the amounts of liabilities and expenses under defined benefit pension plans, subject to the assumptions that the Company determines are appropriate based on historical trends, current market rates and future projections. Assumptions used in the actuarial calculations could have a significant impact on plan obligations, and a lesser impact on current period expense. Annually, the Company reviews the actual experience compared to the significant assumptions used and makes adjustments to the assumptions, if warranted. Discount rates are based on an expected benefit payments duration analysis and the equivalent average yield rate for high-quality fixed-income investments. Pension benefits are funded through deposits with trustees and the expected long-term rate of return on fund assets is based on actual historical returns and a review of other public company pension asset return data, modified for known changes in the market and any expected change in investment policy. See Note 18, “Employee Benefit Plans,” for further information.
Asbestos-related Matters	Asbestos-related Matters. The Company accrues loss reserves for asbestos-related matters based upon an estimate of the ultimate liability for claims incurred, whether reported or not, including an estimate of future settlement costs and costs to defend. The Company utilizes known facts and historical trends for Company-specific and general market asbestos-related activity, as well as an actuarial valuation in determining estimated required reserves which it believes are probable and reasonably estimable. Asbestos-related accruals are assessed at each balance sheet date to determine if the liability remains reasonably stated. Accruals for asbestos-related matters are included in the consolidated balance sheet in “Accrued liabilities” and “Other long-term liabilities.” See Note 17, “Commitments and Contingencies,” for further information.
Revenue Recognition	Revenue Recognition. Revenue is recognized when control of promised goods is transferred to customers, which generally occurs when products are shipped from the Company’s facilities to its customers. The amount of revenue recorded reflects the consideration the Company expects to be entitled to receive in exchange for transferring those goods. Net sales are comprised of gross revenues, based on observed stand-alone selling prices, less estimates of expected returns, trade discounts and customer allowances, which include incentives such as volume and other discounts in connection with various supply programs. Such deductions are estimated and recorded during the period the related revenue is recognized. The Company may adjust these estimates when the expected amount of consideration changes based on sales volumes or other contractual terms. Sales and other consumption taxes the Company collects from customers and remits to government agencies are excluded from revenue. The Company accounts for freight and shipping costs that occur after control of the related goods transfer to the customer as a fulfillment cost within cost of sales. The nature and timing of the Company's revenue transactions are similar, as substantially all revenue is based on point-in-time transactions with customers under industry-standard payment terms. The Company may require shortened payment terms, including cash-in-advance, on an individual customer basis depending on its assessment of the customer's credit worthiness.
Cost of Sales	Cost of Sales. Cost of sales includes material, labor and overhead costs incurred in the manufacture of products sold in the period. Material costs include raw material, purchased components, outside processing and freight costs. Overhead costs consist of variable and fixed manufacturing costs, wages and fringe benefits, and purchasing, receiving and inspection costs.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses. Selling, general and administrative expenses include the following: costs related to the advertising, sale, marketing and distribution of the Company's products, amortization of customer intangible assets, costs of finance, human resources, legal functions, executive management costs and other administrative expenses.
Income Taxes	Income Taxes. The Company computes income taxes using the asset and liability method, whereby deferred income taxes using current enacted tax rates are provided for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities and for operating loss and tax credit carryforwards. The Company determines valuation allowances based on an assessment of positive and negative evidence on a jurisdiction-by-jurisdiction basis and records a valuation allowance to reduce deferred tax assets to the amount more likely than not to be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. See Note 23, "Income Taxes," for further information.
Foreign Currency Translation	Foreign Currency Translation. The financial statements of subsidiaries located outside of the United States are measured using the currency of the primary economic environment in which they operate as the functional currency. When translating into U.S. dollars, income and expense items are translated at average monthly exchange rates and assets and liabilities are translated at exchange rates in effect at the balance sheet date. Adjustments resulting from translating the functional currency into U.S. dollars are deferred as a component of accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of shareholders' equity. Net foreign currency transaction gains were approximately $0.6 million, $0.3 million and $1.0 million for the years ended December 31, 2020, 2019 and 2018, respectively, and are included in other expense, net in the accompanying consolidated statement of operations.
Derivative Financial Instruments	Derivative Financial Instruments. The Company records derivative financial instruments at fair value on the balance sheet as either assets or liabilities, and changes in their fair values are immediately recognized in earnings if the derivatives do not qualify as effective hedges. If a derivative is designated as a fair value hedge, then changes in the fair value of the derivative are offset against the changes in the fair value of the underlying hedged item. If a derivative is designated as a cash flow hedge, then the effective portion of the changes in the fair value of the derivative is recognized as a component of other comprehensive income until the underlying hedged item is recognized in earnings or the forecasted transaction is no longer probable of occurring. If a derivative is designated as a net investment hedge, then the effective portion of the changes in the fair value of the derivative is recognized in other comprehensive income and will be subsequently reclassified to earnings when the hedged net investment is either sold or substantially liquidated. The Company formally documents hedging relationships for its derivative transactions and the underlying hedged items, as well as its risk management objectives and strategies for undertaking the hedge transactions. See Note 14, "Derivative Instruments," for further information.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. In accounting for and disclosing the fair value of financial instruments, the Company uses the following hierarchy: •Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; •Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and •Level 3 inputs are unobservable inputs for the asset or liability. Valuation of the Company's interest rate swaps and cross-currency swaps are based on the income approach, which uses observable inputs such as interest rate yield curves and forward currency exchange rates, as applicable. The carrying value of financial instruments reported in the balance sheet for current assets and current liabilities approximates fair value due to the short maturity of these instruments.
Business Combinations	Business Combinations. The Company records assets acquired and liabilities assumed from acquisitions at fair value. The fair value of working capital accounts generally approximates book value. The valuation of inventory, property, plant and equipment, and intangible assets requires significant assumptions. Inventory is recorded at fair value based on the estimated selling price less costs to sell, including completion, disposal and holding period costs with a reasonable profit margin. Property and equipment is recorded at fair value using a combination of both the cost and market approaches for both the real and personal property acquired. Under the cost approach, consideration is given to the amount required to construct or purchase a new asset of equal value at current prices, with adjustments in value for physical deterioration, as well as functional and economic obsolescence. Under the market approach, recent transactions for similar types of assets are used as the basis for estimating fair value. For trademark/trade names and technology and other intangible assets, the estimated fair value is based on projected discounted future net cash flows using the relief-from-royalty method. For customer relationship intangible assets, the estimated fair value is based on projected discounted future cash flows using the excess earnings method. The relief-from-royalty and excess earnings method are both income approaches that utilize key assumptions such as forecasts of revenue and expenses over an extended period of time, royalty rate percentages, tax rates, and estimated costs of debt and equity capital to discount the projected cash flows.
Stock-based Compensation	Stock-based Compensation. The Company recognizes compensation expense related to equity awards based on their fair values as of the grant date. For awards with only a service condition, expense is recognized ratably over the vesting period. Performance based equity awards may have targets tied to performance and/or market-based conditions. Market-based conditions are taken into consideration in determining the grant date fair value, and the related compensation expense is recognized regardless of whether the market condition is satisfied, provided the requisite service has been provided. For performance condition components, the Company periodically updates the probability that the performance conditions will be achieved and adjusts expense accordingly, reflecting the change from prior estimate, if any, in current period non-cash stock compensation expense. The disclosed number of awards granted considers only the targeted number of units until such time that the performance condition has been satisfied. If the performance conditions are not achieved, no award is earned. See Note 19, “Equity Awards,” for further information.
Other Comprehensive Income	Other Comprehensive Income (Loss). The Company refers to other comprehensive income (loss) as revenues, expenses, gains and losses that under accounting principles generally accepted in the United States of America are included in comprehensive income (loss) but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders' equity. Other comprehensive income (loss) is comprised of foreign currency translation adjustments, amortization of prior service costs and unrecognized gains and losses in actuarial assumptions for pension and postretirement plans and changes in unrealized gains and losses on derivative instruments.

Discontinued Operations Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

Results of discontinued operations are summarized as follows (dollars in thousands):


	Year ended December 31,
	2019		2018
Net sales	$	182,590	$	172,110
Cost of sales	(138,100)		(128,100)
Gross profit	44,490		44,010
Selling, general and administrative expenses	(32,920)		(30,590)
Net gain (loss) on dispositions of assets	38,900		(160)
Operating profit	50,470		13,260

Other income (expense), net	(30)		360
Other income (expense), net	(30)		360
Income from discontinued operations, before income taxes	50,440		13,620
Income tax expense	(13,760)		(4,030)
Income from discontinued operations, net of tax	$	36,680	$	9,590

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents the Company’s disaggregated net sales by primary market served (dollars in thousands):


	Year ended December 31,
Customer End Markets	2020		2019		2018
Consumer Products	$	402,080	$	307,640	$	276,740
Aerospace & Defense	167,740		194,110		185,920
Industrial	200,150		221,780		242,370

Total net sales	$	769,970	$	723,530	$	705,030

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents [Table Text Block]

Cash and cash equivalents consists of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Cash and cash equivalents - unrestricted	$	62,790	$	172,470
Cash - restricted	11,160		—
Total cash and cash equivalents	$	73,950	$	172,470

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows (dollars in thousands):


					Specialty
	Packaging		Aerospace		Products		Total
Balance, December 31, 2018	$	163,660	$	146,430	$	6,560	$	316,650
Goodwill from acquisitions	18,400		—		—		18,400

Goodwill reassigned in segment realignment	—		(12,740)		12,740		—
Foreign currency translation and other	(410)		—		—		(410)
Balance, December 31, 2019	$	181,650	$	133,690	$	19,300	$	334,640
Goodwill from acquisitions	49,130		43,260		—		92,390
Impairment charge	—		(126,840)		—		(126,840)
Goodwill reassigned in segment realignment	—		12,740		(12,740)		—
Foreign currency translation and other	3,780		—		—		3,780
Balance, December 31, 2020	$	234,560	$	62,850	$	6,560	$	303,970

Schedule of Intangible Assets (excluding Goodwill) by Major Class

The gross carrying amounts and accumulated amortization of the Company's other intangibles as of December 31, 2020 and 2019 are summarized below (dollars in thousands):


	As of December 31, 2020				As of December 31, 2019
Intangible Category by Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships, 5 - 12 years	$	122,970	$	(59,470)	$	73,860	$	(49,910)
Customer relationships, 15 - 25 years	122,280		(62,450)		122,280		(56,010)
Total customer relationships	245,250		(121,920)		196,140		(105,920)
Technology and other, 1 - 15 years	57,180		(32,800)		52,430		(29,790)
Technology and other, 17 - 30 years	43,300		(39,450)		43,300		(37,620)
Total technology and other	100,480		(72,250)		95,730		(67,410)
Indefinite-lived intangible assets:
Trademark/Trade names	54,640		—		42,850		—
Total other intangible assets	$	400,370	$	(194,170)	$	334,720	$	(173,330)

Schedule of Finite-Lived Intangible Assets, Amortization Expense

Amortization expense related to intangible assets as included in the accompanying consolidated statement of operations is summarized as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Technology and other, included in cost of sales	$	4,930	$	4,780	$	4,890
Customer relationships, included in selling, general and administrative expenses	15,820		13,850		13,370
Total amortization expense	$	20,750	$	18,630	$	18,260

Schedule of Expected Amortization Expense [Table Text Block]

Estimated amortization expense for the next five fiscal years beginning after December 31, 2020 is as follows (dollars in thousands):


Year ended December 31,	Estimated Amortization Expense
2021		$	21,790
2022		$	18,230
2023		$	16,330
2024		$	14,830
2025		$	14,480

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Finished goods	$	78,010	$	68,350
Work in process	29,680		30,560
Raw materials	41,690		33,750
Total inventories	$	149,380	$	132,660

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Land and land improvements	$	20,040	$	19,110
Building and building improvements	91,970		84,880
Machinery and equipment	384,010		326,990
	496,020		430,980
Less: Accumulated depreciation	242,960		216,650
Property and equipment, net	$	253,060	$	214,330

Depreciation Expense

Depreciation expense as included in the accompanying consolidated statement of operations is as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Depreciation expense, included in cost of sales	$	27,920	$	23,700	$	20,890
Depreciation expense, included in selling, general and administrative expense	1,100		1,170		1,340
Total depreciation expense	$	29,020	$	24,870	$	22,230

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Accrued payroll	$	23,140	$	16,390
High deductible insurance	4,980		5,720
Other	32,420		19,910
Total accrued liabilities	$	60,540	$	42,020

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Instrument [Line Items]

Schedule of Debt

The Company's long-term debt consists of the following (dollars in thousands):


	December 31, 2020		December 31, 2019
4.875% Senior Notes due October 2025	$	300,000	$	300,000
Credit Agreement	50,450		—

Debt issuance costs	(4,160)		(5,310)


Long-term debt, net	$	346,290	$	294,690

The carrying amounts and fair values were as follows (dollars in thousands):


	December 31, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	300,000	$	305,630	$	300,000	$	309,000
Revolving credit facility	50,450		50,450		—		—

Schedule of Maturities of Long-term Debt

Future maturities of the face value of long-term debt at December 31, 2020 are as follows (dollars in thousands):


Year Ending December 31:	Future Maturities
2021	$	—
2022	50,450
2023	—
2024	—
2025	300,000
Thereafter	—
Total	$	350,450

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

As of December 31, 2020 and 2019, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands):

Asset / (Liability) Derivatives

Derivatives designated as hedging instruments

Balance Sheet Caption

December 31, 2020

December 31, 2019

Net Investment Hedges

Cross-currency swaps

Other assets

—

4,460

Cross-currency swaps

Other long-term liabilities

(5,000)

—

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance


	Amount of Income (Loss) Recognized in AOCI on Derivative (Effective Portion, net of tax)				Location of Loss Reclassified from AOCI into Earnings (Effective Portion)	Amount of Loss Reclassified from AOCI into Earnings
	As of December 31,					Year ended December 31,
	2020		2019			2020		2019		2018

Net Investment Hedges
Cross-currency swaps	$	(3,580)	$	4,230	Other expense, net	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instruments

The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of operations (dollars in thousands):


		Amount of Loss Recognized in Earnings on Derivatives
		Year ended December 31,
	Location of Loss Recognized in Earnings on Derivatives	2020		2019		2018
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other income (expense), net	$	(470)	$	(600)	$	—

Fair Value Measurements, Recurring and Nonrecurring

Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019 are as follows (dollars in thousands):


Description	Frequency	Asset / (Liability)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2020
Cross-currency swaps	Recurring	$	(5,000)	$	—	$	(5,000)	$	—
Foreign exchange contracts	Recurring	$	140	$	—	$	140	$	—
December 31, 2019
Cross-currency swaps	Recurring	$	4,460	$	—	$	4,460	$	—
Foreign exchange contracts	Recurring	$	(770)	$	—	$	(770)	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

The components of lease expense are as follows (dollars in thousands):


	Year ended December 31, 2020		Year ended December 31, 2019
Operating lease cost	$	7,870	6,380
Short-term, variable and other lease costs	1,540		1,140
Total lease cost	$	9,410	$	7,520

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturities of lease liabilities are as follows (dollars in thousands):


Year ended December 31,	Operating Leases(a)
2021	$	8,070
2022	7,250
2023	6,340
2024	5,120
2025	4,400
Thereafter	12,700
Total lease payments	43,880
Less: Imputed interest	(5,530)
Present value of lease liabilities	$	38,350

__________________________

Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities consist of the following components (dollars in thousands):


	December 31, 2020		December 31, 2019
Non-current asbestos-related liabilities	$	26,170	$	6,200
Other long-term liabilities	43,520		34,610
Total other long-term liabilities	$	69,690	$	40,810

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency

The following chart summarizes the number of claims, number of claims filed, number of claims dismissed, number of claims settled, the average settlement amount per claim and the total defense costs, at the applicable date and for the applicable periods:


	Claims pending at beginning of period	Claims filed during period	Claims dismissed during period	Claims settled during period	Claims pending at end of period	Average settlement amount per claim during period		Total defense costs during period
Fiscal year ended December 31, 2020	4,759	219	287	36	4,655	$	18,314	$	2,130,000
Fiscal year ended December 31, 2019	4,820	143	172	32	4,759	$	16,616	$	2,250,000
Fiscal year ended December 31, 2018	5,256	171	564	43	4,820	$	7,191	$	2,260,000

Schedule of Damages Sought for Specific Claims

Below is a breakdown of the compensatory damages sought for those claims seeking specific amounts:

Compensatory

Range of damages sought (in millions)

$0.0 to $0.6

$0.6 to $5.0

$5.0+

Number of claims

—

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248

+ Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Costs of Retirement Plans

Net periodic pension benefit expense recorded in the Company's consolidated statement of operations for defined benefit pension plans include the following components (dollars in thousands):


	Pension Benefit
	2020		2019		2018
Service cost	$	1,230	$	1,050	$	1,120
Interest cost	930		1,070		1,100
Expected return on plan assets	(1,450)		(1,400)		(1,520)

Settlements and curtailments	—		—		2,620
Amortization of net loss	890		580		860
Net periodic benefit expense	$	1,600	$	1,300	$	4,180

Schedule of Assumptions Used

Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:


	Pension Benefit
	2020		2019		2018
Discount rate for obligations	2.79	%	3.41	%	4.50	%
Discount rate for benefit costs	3.41	%	4.50	%	4.37	%
Rate of increase in compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.13	%	7.13	%	7.13	%

Weighted average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:


	Pension Benefit
	2020		2019		2018
Discount rate for obligations	1.50	%	2.10	%	3.00	%
Discount rate for benefit costs	2.10	%	3.00	%	2.60	%
Rate of increase in compensation levels	2.80	%	3.00	%	3.30	%
Expected long-term rate of return on plan assets	4.10	%	4.60	%	4.60	%

Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets


	Pension Benefit
	2020		2019
Changes in Projected Benefit Obligations
Benefit obligations at January 1	$	(36,580)	$	(30,300)
Service cost	(1,230)		(1,050)
Interest cost	(930)		(1,070)
Participant contributions	(60)		(60)
Actuarial loss (a)	(2,420)		(4,190)
Benefit payments	1,140		900



Change in foreign currency	(750)		(810)
Projected benefit obligations at December 31	$	(40,830)	$	(36,580)
Changes in Plan Assets
Fair value of plan assets at January 1	$	30,260	$	24,650
Actual return on plan assets	4,780		3,630
Employer contributions	1,140		1,930
Participant contributions	60		60
Benefit payments	(1,140)		(900)


Change in foreign currency	960		890
Fair value of plan assets at December 31	$	36,060	$	30,260
Funded status at December 31	$	(4,770)	$	(6,320)

__________________________

Schedule of Amounts Recognized in Balance Sheet


	Pension Benefit
	2020		2019
Amounts Recognized in Balance Sheet
Other assets	$	4,470	$	1,690
Current liabilities	(340)		(330)
Noncurrent liabilities	(8,900)		(7,680)
Net liability recognized at December 31	$	(4,770)	$	(6,320)

Schedule of Accumulated Other Comprehensive Income


	Pension Benefit
	2020		2019
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	170	$	190
Unrecognized net loss	11,470		13,240
Total accumulated other comprehensive loss recognized at December 31	$	11,640	$	13,430

Changes in AOCI by component for the year ended December 31, 2020 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)
Net unrealized gains (losses) arising during the period (a)	670		(7,810)		6,880		(260)
Less: Net realized losses reclassified to net income (b)	(640)		—		—		(640)
Net current-period other comprehensive income (loss)	1,310		(7,810)		6,880		380

Balance, December 31, 2020	$	(8,620)	$	(3,580)	$	6,580	$	(5,620)

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2019 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2018	$	(7,200)	$	940	$	(10,590)	$	(16,850)
Net unrealized gains (losses) arising during the period (a)	(1,870)		3,300		(2,060)		(630)
Less: Net realized losses reclassified to net income (b)	(400)		—		(12,350)		(12,750)
Net current-period other comprehensive income (loss)	(1,470)		3,300		10,290		12,120
Reclassification of stranded tax effects	(1,260)		(10)		—		(1,270)
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)

__________________________

(b) Defined benefit plans, net of income tax of $0.1 million. See Note 18, "Employee Benefit Plans," for additional details.

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets


	Accumulated Benefit Obligations				Projected Benefit Obligations
	2020		2019		2020		2019
Benefit Obligations at December 31,
Total benefit obligations	$	(38,410)	$	(34,460)	$	(40,830)	$	(36,580)
Plans with benefit obligations exceeding plan assets
Benefit obligations	$	(16,820)	$	(14,840)	$	(16,940)	$	(14,910)
Plan assets	$	7,700	$	6,890	$	7,700	$	6,890

Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense

A 25 basis point change in benefit obligation discount rates or 50 basis point change in expected return on plan assets would have the following effect (dollars in thousands):


	Pension Benefit
	December 31, 2020 Benefit Obligation		2020 Expense
Discount rate
25 basis point increase	$	(1,580)	$	(110)
25 basis point decrease	$	1,760	$	110
Expected return on assets
50 basis point increase	N/A		$	(170)
50 basis point decrease	N/A		$	170

Schedule of Allocation of Plan Assets

The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2020 and 2019 and target allocations by class, were as follows:


	Domestic Pension						Foreign Pension
			Actual						Actual
	Target		2020		2019		Target		2020		2019
Equity securities	60	%	67	%	62	%	33	%	33	%	30	%
Fixed income	36	%	32	%	34	%	45	%	44	%	46	%
Diversified growth(a)	—	%	—	%	—	%	22	%	22	%	23	%
Cash and other	4	%	1	%	4	%	—		1	%	1	%
Total	100	%	100	%	100	%	100	%	100	%	100	%

Fair Value, Assets Measured on Recurring Basis [Table Text Block]


	Total		Level 1		Level 2		Level 3
Plan assets subject to leveling
Investment funds
Equity securities	$	5,160	$	5,160	$	—	$	—
Fixed income	2,500		2,500		—		—
Cash and cash equivalents	310		310		—		—
Plan assets measured at net asset value(a)
Investment funds
Equity securities	9,180
Fixed income	12,880
Diversified growth	5,870
Cash and cash equivalents	160

Total	$	36,060	$	7,970	$	—	$	—

________________________________________

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years (dollars in thousands):


	Pension Benefit
2021	$	1,160
2022	1,210
2023	1,240
2024	1,310
2025	1,350
Years 2026-2030	7,710

Equity Awards (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

Information related to stock options as of and for the year ended December 31, 2020 is as follows:


	Number of Stock Options	Weighted Average Option Price		Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	150,000	$	17.87
Granted	—	—
Exercised	—	—
Cancelled	—	—
Expired	—	—
Outstanding at December 31, 2020	150,000	$	17.87	5.6	$	2,070,000

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

Information related to restricted shares as of and for the year ended December 31, 2020 is as follows:


	Number of Unvested Restricted Shares	Weighted Average Grant Date Fair Value		Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	622,528	$	30.77
Granted	487,034	21.43
Vested	(302,924)	27.88
Cancelled	(21,670)	27.53
Outstanding at December 31, 2020	784,968	$	26.46	1.2	$	24,859,937

Earnings per Share Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Schedule of Weighted Average Number of Shares [Table Text Block]

The following table summarizes the dilutive effect of RSUs and options to purchase common stock:


	Year ended December 31,
	2020	2019	2018
Weighted average common shares—basic	43,581,232	45,303,659	45,824,555
Dilutive effect of restricted stock units	—	224,946	242,204
Dilutive effect of stock options	—	66,549	103,705
Weighted average common shares—diluted	43,581,232	45,595,154	46,170,464

Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2020

Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income


	Pension Benefit
	2020		2019
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	170	$	190
Unrecognized net loss	11,470		13,240
Total accumulated other comprehensive loss recognized at December 31	$	11,640	$	13,430

Changes in AOCI by component for the year ended December 31, 2020 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)
Net unrealized gains (losses) arising during the period (a)	670		(7,810)		6,880		(260)
Less: Net realized losses reclassified to net income (b)	(640)		—		—		(640)
Net current-period other comprehensive income (loss)	1,310		(7,810)		6,880		380

Balance, December 31, 2020	$	(8,620)	$	(3,580)	$	6,580	$	(5,620)

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2019 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2018	$	(7,200)	$	940	$	(10,590)	$	(16,850)
Net unrealized gains (losses) arising during the period (a)	(1,870)		3,300		(2,060)		(630)
Less: Net realized losses reclassified to net income (b)	(400)		—		(12,350)		(12,750)
Net current-period other comprehensive income (loss)	(1,470)		3,300		10,290		12,120
Reclassification of stranded tax effects	(1,260)		(10)		—		(1,270)
Balance, December 31, 2019	$	(9,930)	$	4,230	$	(300)	$	(6,000)

__________________________

(b) Defined benefit plans, net of income tax of $0.1 million. See Note 18, "Employee Benefit Plans," for additional details.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment activity is as follows (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Net Sales
Packaging	$	488,340	$	392,340	$	368,200
Aerospace	167,740		194,110		185,920
Specialty Products	113,890		137,080		150,910
Total	$	769,970	$	723,530	$	705,030
Operating Profit (Loss)
Packaging	$	93,990	$	80,770	$	84,590
Aerospace	(133,440)		28,950		27,290
Specialty Products	4,350		16,000		20,990
Corporate	(53,190)		(34,500)		(24,060)
Total	$	(88,290)	$	91,220	$	108,810
Capital Expenditures
Packaging	$	30,730	$	16,400	$	13,590
Aerospace	5,770		8,110		1,190
Specialty Products	3,890		5,090		3,750
Corporate(a)	90		70		4,890
Total	$	40,480	$	29,670	$	23,420
Depreciation and Amortization
Packaging	$	27,600	$	24,650	$	21,620
Aerospace	18,130		15,090		15,190
Specialty Products	3,910		3,480		3,400
Corporate	130		280		280
Total	$	49,770	$	43,500	$	40,490
Total Assets
Packaging	$	721,440	$	546,950	$	435,140
Aerospace	348,190		393,260		392,140
Specialty Products	65,520		77,250		82,610
Corporate	58,730		175,240		95,260
Subtotal from continuing operations	1,193,880		1,192,700		1,005,150
Discontinued operations	—		—		95,370
Total	$	1,193,880	$	1,192,700	$	1,100,520

________________________________________

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas


	As of December 31,
	2020				2019				2018
	Net Sales		Long-lived Assets		Net Sales		Long-lived Assets		Net Sales		Long-lived Assets
Non-U.S.
Europe	$	116,350	$	225,120	$	87,420	$	110,530	$	54,920	$	53,770
Asia Pacific	46,350		41,140		37,920		40,720		38,920		44,230
Other Americas	11,740		19,510		6,290		18,430		6,170		7,500
Total non-U.S.	174,440		285,770		131,630		169,680		100,010		105,500

Total U.S.	595,530		477,460		591,900		540,680		605,020		550,990
Total	$	769,970	$	763,230	$	723,530	$	710,360	$	705,030	$	656,490

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's income (loss) before income taxes and income tax expense (benefit), each by tax jurisdiction, consists of the following (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Income (loss) before income taxes:
Domestic	$	(134,630)	$	52,190	$	64,670
Foreign	31,920		26,070		27,690
Total income (loss) before income taxes	$	(102,710)	$	78,260	$	92,360
Current income tax expense:
Federal	$	200	$	3,530	$	4,410
State and local	810		1,280		2,060
Foreign	7,750		7,070		6,200
Total current income tax expense	8,760		11,880		12,670
Deferred income tax expense (benefit):
Federal	(16,900)		4,890		4,570
State and local	(4,430)		500		1,310
Foreign	(10,380)		(950)		100
Total deferred income tax expense (benefit)	(31,710)		4,440		5,980
Income tax expense (benefit)	$	(22,950)	$	16,320	$	18,650

Schedule of Deferred Tax Assets and Liabilities

The components of deferred taxes are as follows (dollars in thousands):


	December 31, 2020		December 31, 2019
Deferred tax assets:
Accounts receivable	$	260	$	480
Inventories	5,080		4,390

Accrued liabilities and other long-term liabilities	19,190		12,210
Operating lease liability	8,950		6,790
Tax loss and credit carryforwards	20,760		9,200
Other	340		340
Gross deferred tax asset	54,580		33,410
Valuation allowances	(10,180)		(8,310)
Net deferred tax asset	44,400		25,100
Deferred tax liabilities:
Property and equipment	(24,140)		(20,650)
Right of use asset	(8,930)		(6,700)
Goodwill and other intangible assets	(16,230)		(13,250)
Investment in foreign affiliates, including withholding tax	(370)		(830)

Gross deferred tax liability	(49,670)		(41,430)
Net deferred tax liability	$	(5,270)	$	(16,330)

Schedule of Effective Income Tax Rate Reconciliation


	Year ended December 31,
	2020			2019			2018
U.S. federal statutory rate	21		%	21		%	21		%
Tax at U.S. federal statutory rate	$	(21,570)		$	16,440		$	19,390
State and local taxes, net of federal tax benefit	(2,850)			970			2,730
Differences in statutory foreign tax rates	(1,500)			(870)			490
Change in recognized tax benefits	(920)			(920)			(560)
Goodwill and other intangible assets impairment	13,430			—			—

Nontaxable income	—			(570)			(940)


Research and manufacturing incentives	(2,130)			(1,160)			(1,740)

Net change in valuation allowance	(6,390)			3,580			280
Tax Reform Act	—			—			(400)

Other, net	(1,020)			(1,150)			(600)
Income tax expense (benefit)	$	(22,950)		$	16,320		$	18,650

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the UTBs for the years ended December 31, 2020 and 2019 is as follows (dollars in thousands):


	Unrecognized Tax Benefits
Balance at December 31, 2018	$	3,020
Tax positions related to current year:
Additions	110
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(880)
Balance at December 31, 2019	$	2,250
Tax positions related to current year:
Additions	150
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(760)
Balance at December 31, 2020	$	1,640

Basis of Presentation Sale of Lamons Division (Details) - Lamons [Member] - Discontinued Operations, Disposed of by Sale [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price based on definitive sales agreement			$ 135.0
Proceeds from Divestiture of Businesses		$ 136.8
Proceeds on finalization of sale of business	$ 1.8

Summary of Significant Accounting Policies - Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Allowance for Doubtful Accounts	$ 2.1	$ 2.1

Summary of Significant Accounting Policies - Depreciation and Amortization (Details)	12 Months Ended
	Dec. 31, 2020
Minimum [Member] \| Customer Relationships [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Minimum [Member] \| Technology and Other [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	1 year
Minimum [Member] \| Land and Land Improvements/Buildings [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Customer Relationships [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	25 years
Maximum [Member] \| Technology and Other [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	30 years
Maximum [Member] \| Land and Land Improvements/Buildings [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment and Finite-Lived Intangible Assets [Line Items]
Property, Plant and Equipment, Useful Life	15 years

Summary of Significant Accounting Policies - Goodwill and Indefinite-Lived Intangibles (Details)	12 Months Ended
	Dec. 31, 2020 number
Annual Goodwill Impairment Assessment [Abstract]
Number of Reporting Units	6
Number of reporting units that have goodwill	3
Number of Reportable Segments	3

Summary of Significant Accounting Policies - High Deductible Insurance (Details) $ in Millions	Dec. 31, 2020 USD ($)
Workers' Compensation [Member]
Insurance coverage [Line Items]
Maximum Retention	$ 0.8
Minimum [Member] \| General Liability [Member]
Insurance coverage [Line Items]
Maximum Retention	0.3
Maximum [Member] \| General Liability [Member]
Insurance coverage [Line Items]
Maximum Retention	1.5
Maximum [Member] \| Group Medical Plan [Member]
Insurance coverage [Line Items]
Stop Loss Limit	$ 0.4

Summary of Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Expense, Net [Member]
Foreign Currency Translation [Line Items]
Net Foreign Currency Transaction Gains (Losses)	$ 0.6	$ 0.3	$ 1.0

Acquisitions Acquisitions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2020	Feb. 27, 2020
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 193,540	$ 67,090	$ 0
Net sales	769,970	723,530	705,030
Goodwill	303,970	334,640	316,650
Rapak [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	11,400
Net sales		30,000
RSA Engineered Products [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	83,700
Net sales		30,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					$ 2,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities					8,700
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital					10,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					36,900
Goodwill					$ 43,300
Taplast S.p.A. [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		44,700
Net sales			32,000
Plastic Srl [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 22,400
Net sales			$ 12,000
Affaba & Ferrari Srl [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	98,400
Net sales	$ 34,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				$ 17,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				12,600
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital				9,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				35,100
Goodwill				$ 49,100

Discontinued Operations Sale of Lamons Division Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			$ (640)	$ (12,750)
Lamons [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses		$ 136,800
Proceeds from Divestiture of Businesses, Net of Cash Divested		$ 112,700
Tax payments related to the sale of business	$ 20,900
Transaction costs related to sale of business	3,200
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	38,900
Foreign Currency Translation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			$ 0	$ (12,350)
Foreign Currency Translation \| Lamons [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 12,400

Discontinued Operations Results of Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss on dispositions of assets	$ (1,290)	$ (150)	$ (90)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	36,680	9,590
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue		182,590	172,110
Disposal Group, Including Discontinued Operation, Costs of Goods Sold		(138,100)	(128,100)
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)		44,490	44,010
Disposal Group, Including Discontinued Operations, SG&A		(32,920)	(30,590)
Net loss on dispositions of assets		38,900	(160)
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		50,470	13,260
Disposal Group, Including Discontinued Operations, Other Expense, net		(30)	360
Disposal Group, Including Discontinued Operations, Nonoperating Expense		(30)	360
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax		50,440	13,620
Discontinued Operation, Tax Effect of Discontinued Operation		(13,760)	(4,030)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent		$ 36,680	$ 9,590

Restructuring and Related Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Realignment Actions [Line Items]
Loss on dispositions of assets	$ 1,290	$ 150	$ 90
Realignment Actions [Member]
Realignment Actions [Line Items]
Inventory Write-down	13,800
Loss on dispositions of assets	2,300
Severance Costs	3,800
Cash paid for severance	3,700
Cost of Sales [Member] \| Realignment Actions [Member]
Realignment Actions [Line Items]
Charges related to realignment actions	17,100
Selling, General and Administrative Expenses [Member] \| Realignment Actions [Member]
Realignment Actions [Line Items]
Charges related to realignment actions	$ 2,800

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 769,970	$ 723,530	$ 705,030
Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	402,080	307,640	276,740
Aerospace & Defense [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	167,740	194,110	185,920
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 200,150	$ 221,780	$ 242,370

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Facility Closures and Consolidations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Loss on dispositions of assets	$ 1,290	$ 150	$ 90
Gain on sale of building	$ (1,290)	$ (150)	$ (90)

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents unrestricted	$ 62,790	$ 172,470
Restricted Cash	11,160	0
Cash and cash equivalents	$ 73,950	$ 172,470

Goodwill and Other Intangible Assets - Goodwill Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill, Impairment Loss		$ 126,840,000
Goodwill		303,970,000		$ 334,640,000	$ 316,650,000
Aerospace [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss		126,840,000
Goodwill		62,850,000		$ 133,690,000	$ 146,430,000
Aerospace Fasteners Reporting Unit [Member]
Goodwill [Line Items]
Goodwill	$ 62,900,000
Aerospace Engineered Products Reporting Unit [Member]
Goodwill [Line Items]
Goodwill		$ 0	$ 12,700,000
Goodwill [Member]
Goodwill [Line Items]
Change in discount rate	1.00%
Change in goodwill impairment due to change in discount rate	$ 20,000,000
Change in terminal growth rate	0.50%
Change in goodwill impairment due to change in terminal rate	$ 5,000,000
Goodwill [Member] \| Aerospace Fasteners Reporting Unit [Member] \| Aerospace [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss	70,800,000
Goodwill [Member] \| Aerospace Engineered Products Reporting Unit [Member] \| Aerospace [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss	$ 56,000,000.0

Goodwill and Other Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance, beginning	$ 334,640	$ 316,650
Goodwill, Acquired During Period	92,390	18,400
Goodwill, Impairment Loss	(126,840)
Goodwill reassigned between segments	0	0
Foreign currency translation	3,780	(410)
Balance, ending	303,970	334,640
Packaging [Member]
Goodwill [Roll Forward]
Balance, beginning	181,650	163,660
Goodwill, Acquired During Period	49,130	18,400
Goodwill, Impairment Loss	0
Goodwill reassigned between segments	0	0
Foreign currency translation	3,780	(410)
Balance, ending	234,560	181,650
Aerospace [Member]
Goodwill [Roll Forward]
Balance, beginning	133,690	146,430
Goodwill, Acquired During Period	43,260	0
Goodwill, Impairment Loss	(126,840)
Goodwill reassigned between segments	12,740	(12,740)
Foreign currency translation	0	0
Balance, ending	62,850	133,690
Specialty Products [Member]
Goodwill [Roll Forward]
Balance, beginning	19,300	6,560
Goodwill, Acquired During Period	0	0
Goodwill, Impairment Loss	0
Goodwill reassigned between segments	(12,740)	12,740
Foreign currency translation	0	0
Balance, ending	$ 6,560	$ 19,300

Goodwill and Other Intangible Assets - Intangibles Narrative (Details)	12 Months Ended
	Dec. 31, 2020 USD ($)
Trade Names [Member] \| Aerospace [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 7,800,000

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, accumulated amortization	$ (194,170)	$ (173,330)
Total finite and indefinite-lived other intangible assets, gross carrying amount	400,370	334,720
Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	245,250	196,140
Finite-lived intangible assets, accumulated amortization	(121,920)	(105,920)
Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	100,480	95,730
Finite-lived intangible assets, accumulated amortization	(72,250)	(67,410)
Trademarks and Trade Names [Member]
Intangible Assets, excluding Goodwill [Line Items]
Indefinite-lived intangible assets, gross carrying amount	54,640	42,850
Useful Life Five to Twelve Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	122,970	73,860
Finite-lived intangible assets, accumulated amortization	(59,470)	(49,910)
Useful Life Fifteen to Twentyfive Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	122,280	122,280
Finite-lived intangible assets, accumulated amortization	(62,450)	(56,010)
Useful Life One to Fifteen Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	57,180	52,430
Finite-lived intangible assets, accumulated amortization	(32,800)	(29,790)
Useful Life Seventeen to Thirty Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	43,300	43,300
Finite-lived intangible assets, accumulated amortization	$ (39,450)	$ (37,620)
Minimum [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Minimum [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	1 year
Minimum [Member] \| Useful Life Five to Twelve Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Minimum [Member] \| Useful Life Fifteen to Twentyfive Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	15 years
Minimum [Member] \| Useful Life One to Fifteen Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	1 year
Minimum [Member] \| Useful Life Seventeen to Thirty Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	17 years
Maximum [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	25 years
Maximum [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	30 years
Maximum [Member] \| Useful Life Five to Twelve Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	12 years
Maximum [Member] \| Useful Life Fifteen to Twentyfive Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	25 years
Maximum [Member] \| Useful Life One to Fifteen Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	15 years
Maximum [Member] \| Useful Life Seventeen to Thirty Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-Lived Intangible Assets, Useful Life	30 years

Goodwill and Other Intangible Assets - Other Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 20,750	$ 18,630	$ 18,260
Cost of Sales [Member] \| Technology and Other [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	4,930	4,780	4,890
Selling, General and Administrative Expenses [Member] \| Customer Relationships [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 15,820	$ 13,850	$ 13,370

Goodwill and Other Intangible Assets - Expected Amortization Expense (Details) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months (2021)	$ 21,790
Finite-Lived Intangible Assets, Amortization Expense, Year Two (2022)	18,230
Finite-Lived Intangible Assets, Amortization Expense, Year Three (2023)	16,330
Finite-Lived Intangible Assets, Amortization Expense, Year Four (2024)	14,830
Finite-Lived Intangible Assets, Amortization Expense, Year Five (2025)	$ 14,480

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 78,010	$ 68,350
Work in process	29,680	30,560
Raw materials	41,690	33,750
Total inventories	$ 149,380	$ 132,660

Property and Equipment, Net - Property and Equipment Table (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 496,020	$ 430,980
Less: Accumulated depreciation	242,960	216,650
Property and equipment, net	253,060	214,330
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	20,040	19,110
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	91,970	84,880
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 384,010	$ 326,990

Property and Equipment, Net - Depreciation Expense Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation Expense [Line Items]
Depreciation expense	$ 29,020	$ 24,870	$ 22,230
Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	29,020	24,870	22,230
Cost of Sales [Member] \| Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	27,920	23,700	20,890
Selling, General and Administrative Expenses [Member] \| Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	$ 1,100	$ 1,170	$ 1,340

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities, Current [Abstract]
High deductible insurance	$ 4,980	$ 5,720
Accrued payroll	23,140	16,390
Other	32,420	19,910
Total accrued liabilities	$ 60,540	$ 42,020

Long-term Debt - Debt Table (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (4,160)	$ (5,310)
Long-term debt, net	346,290	294,690
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	300,000	300,000
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	$ 50,450	$ 0

Long-term Debt - Senior Notes (Details) - Senior Notes [Member] - 4.875% Senior Unsecured Notes Due 2025 [Member] $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300.0
Debt Instrument, Interest Rate, Stated Percentage	4.875%
Debt Instrument, Maturity Date	Oct. 15, 2025
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	102.438%
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.219%
Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%

Long-term Debt - Credit Agreement (Details) $ in Millions	3 Months Ended	12 Months Ended
Long-term Debt - Credit Agreement (Details) $ in Millions	Dec. 31, 2020 USD ($) Rate	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Net leverage ratio	3.00	3.00
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate \| Rate	1.50%
Incremental debt commitments capacity	$ 200.0	$ 200.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300.0	$ 300.0
Debt Instrument, Maturity Date		Sep. 20, 2022
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases	125.0	$ 125.0
Revolving Credit Facility, Amount Outstanding	50.5	50.5	$ 150.0	$ 0.0
Revolving Credit Facility, Remaining Borrowing Capacity	249.5	249.5		283.9
Letters of credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	40.0	40.0
Letters of Credit Outstanding, Amount	$ 0.0	$ 0.0		$ 16.1

Long-term Debt - Long-term Debt Maturities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Long-term Debt, Fiscal Year Maturity
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months (2021)	$ 0
Long-term Debt, Maturities, Repayments of Principal in Year Two (2022)	50,450
Long-term Debt, Maturities, Repayments of Principal in Year Three (2023)	0
Long-term Debt, Maturities, Repayments of Principal in Year Four (2024)	0
Long-term Debt, Maturities, Repayments of Principal in Year Five (2025)	300,000
Long-term Debt, Maturities, Repayments of Principal after Year Five (Thereafter)	0
Long-term Debt	$ 350,450

Long-term Debt - Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	$ 50,450	$ 0
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	300,000	300,000
Revolving Credit Facility [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Debt	50,450	0
Fair Value, Inputs, Level 2 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	305,630	309,000
Fair Value, Inputs, Level 2 [Member] \| Revolving Credit Facility [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 50,450	$ 0

Long-term Debt - Debt Issuance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ (4,160)	$ (5,310)
Amortization of Debt Issuance Costs	$ 1,150	$ 1,130	$ 1,290

Derivative Instruments - Derivative Narrative (Details) - Designated as Hedging Instrument [Member] - Cross Currency Interest Rate Contract [Member] - Net Investment Hedging [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2020
Derivative [Line Items]
Derivative, Cash Received on Hedge	$ 1.1
October 2018 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 100.0
Derivative, Fixed Interest Rate		2.90%
November 2020 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 50.0
Derivative, Fixed Interest Rate		0.80%
Maximum [Member] \| October 2018 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 125.0
Maximum [Member] \| November 2020 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		50.0
Minimum [Member] \| October 2018 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		75.0
Minimum [Member] \| November 2020 cross currency swap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 25.0

Derivative Instruments - Designated as hedging, Financial Position (Details) - Cross Currency Interest Rate Contract [Member] - Net Investment Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 0	$ 4,460
Other long-term liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 5,000	$ 0

Derivative Instruments - Designated as hedging, Financial Performance (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	$ 0
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(3,580)	$ 4,230
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 0

Derivative Instruments - Derivatives not designated as hedging instruments (Details) - Not Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative, Notional Amount	$ 96,300
Other income (expense), net
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ (470)	$ (600)	$ 0

Derivative Instruments - Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net		$ 4,460
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	$ 0	0
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	(5,000)	4,460
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	0	0
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member] \| Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net	(5,000)
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	140	(770)
Foreign Exchange Contract [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	0	0
Foreign Exchange Contract [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	140	(770)
Foreign Exchange Contract [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net	$ 0	$ 0

Leases Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
Leases Lease Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating Lease, Cost	$ 7,870	$ 6,380
Short-term, variable and other lease costs	1,540	1,140
Lease, Cost	$ 9,410	$ 7,520	$ 5,800

Leases Operating Lease Liability Maturity Table (Details)
$ in Thousands

Dec. 31, 2020

USD ($)

^[1]

Leases [Abstract]

Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months

$ 8,070

Lessee, Operating Lease, Liability, Payments, Due Year Two

7,250

Lessee, Operating Lease, Liability, Payments, Due Year Three

6,340

Lessee, Operating Lease, Liability, Payments, Due Year Four

5,120

Lessee, Operating Lease, Liability, Payments, Due Year Five

4,400

Lessee, Operating Lease, Liability, Payments, Due after Year Five

12,700

Lessee, Operating Lease, Liability, Payments, Due

43,880

Lessee, Operating Lease, Liability, Undiscounted Excess Amount

(5,530)

Operating Lease, Liability

$ 38,350

[1]	(a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

Leases Supplemental Balance Sheet Information Related to Leases (Details)	Dec. 31, 2020 Rate
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.40%

Leases Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Payments	$ 7.9	$ 6.4
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 14.0	$ 1.4

Leases Rent Expense Under ASC 840 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Lease, Cost	$ 9,410	$ 7,520	$ 5,800

Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Asbestos-related liability, noncurrent	$ 26,170	$ 6,200
Other long-term liabilities other than asbestos liability	43,520	34,610
Other long-term liabilities	$ 69,690	$ 40,810

Commitments and Contingencies - Asbestos Narrative (Details) - Asbestos [Member] $ in Millions	3 Months Ended	348 Months Ended	360 Months Ended
	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($) claimants	Dec. 31, 2020 USD ($) cases claimants	Dec. 31, 2018 claimants	Dec. 31, 2017 claimants
Loss Contingencies [Line Items]
Number of pending cases \| cases			337
Number of pending claims \| claimants		4,759	4,655	4,820	5,256
Number of pending claims seeking specific amounts of damages \| claimants			40
Total settlement costs			$ 10.0
Percentage of settlement and defense costs covered by insurance		40.00%
Liabilities Subject to Compromise, Asbestos Obligations			$ 28.7
Selling, General and Administrative Expenses [Member]
Loss Contingencies [Line Items]
Impact of change in accounting principle	$ 23.4
Minimum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations		$ 31.5
Maximum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations		$ 43.3
Punitive Only Damages [Member] \| Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants			0

Commitments and Contingencies - Asbestos Claimant and Settlement (Details) - Asbestos [Member]	12 Months Ended			30 Months Ended
	Dec. 31, 2020 USD ($) claimants	Dec. 31, 2019 USD ($) claimants	Dec. 31, 2018 USD ($) claimants	Jun. 30, 2020 USD ($) claimants	Dec. 31, 2017 claimants
Loss Contingencies [Line Items]
Number of pending claims filed during period	219	143	171
Number of pending claims dismissed during period	287	172	564
Number of pending claims settled during period	36	32	43
Number of pending claims	4,655	4,759	4,820		5,256
Average settlement amount per claim during period \| $	$ 18,314	$ 16,616	$ 7,191
Total defense costs during period \| $	$ 2,130,000	$ 2,250,000	$ 2,260,000
Minimum [Member]
Loss Contingencies [Line Items]
Number of pending claims filed during period				143
Total defense costs during period \| $				$ 2,200,000
Maximum [Member]
Loss Contingencies [Line Items]
Number of pending claims filed during period				173
Total defense costs during period \| $				$ 2,300,000

Commitments and Contingencies - Asbestos Damages Sought (Details) - Asbestos [Member] $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) claimants
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	40
Compensatory and Punitive Damages [Member] \| Range 1 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 0.0
Compensatory and Punitive Damages [Member] \| Range 1 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory and Punitive Damages [Member] \| Range 2 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory and Punitive Damages [Member] \| Range 2 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5.0
Compensatory and Punitive Damages [Member] \| Range 3 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5.0
Compensatory Only Damages [Member] \| Range 1 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.0
Compensatory Only Damages [Member] \| Range 1 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory Only Damages [Member] \| Range 2 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.6
Compensatory Only Damages [Member] \| Range 2 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5.0
Compensatory Only Damages [Member] \| Range 3 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5.0
Punitive Only Damages [Member] \| Range 1 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	0.0
Punitive Only Damages [Member] \| Range 1 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	2.5
Punitive Only Damages [Member] \| Range 2 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	2.5
Punitive Only Damages [Member] \| Range 2 [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	5.0
Punitive Only Damages [Member] \| Range 3 [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 5.0
Pending Litigation [Member] \| Compensatory Only Damages [Member] \| Range 1 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	0
Pending Litigation [Member] \| Compensatory Only Damages [Member] \| Range 2 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	6
Pending Litigation [Member] \| Compensatory Only Damages [Member] \| Range 3 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	34
Pending Litigation [Member] \| Punitive Only Damages [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	0

Employee Benefit Plans Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Defined Contribution Plan, Cost	$ 3.4	$ 4.6	$ 4.2

Employee Benefit Plans Defined Benefit Plan Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Estimated Future Employer Contributions
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year	$ 3.6

Employee Benefit Plans - Net Periodic Pension and Postretirement Benefit Costs (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service costs	$ 1,230	$ 1,050	$ 1,120
Interest costs	930	1,070	1,100
Expected return on plan assets	(1,450)	(1,400)	(1,520)
Settlements and curtailments loss	0	0	2,620
Amortization of net (gain)/loss	890	580	860
Net periodic benefit cost (income)	$ 1,600	1,300	$ 4,180
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlements and curtailments loss		$ 2,500

Employee Benefit Plans Assumptions Used for U.S Defined Benefit Plans Table (Details) - United States	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate for obligations	2.79%	3.41%	4.50%
Discount rate for benefit costs	3.41%	4.50%	4.37%
Expected long-term rate of return on plan assets	6.13%	7.13%	7.13%

Employee Benefit Plans Assumptions Used for Non-U.S. Defined Pension Plans Table (Details) - Foreign Plan [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate for obligations	1.50%	2.10%	3.00%
Discount rate for benefit costs	2.10%	3.00%	2.60%
Rate of increase in compensation levels	2.80%	3.00%	3.30%
Expected long-term rate of return on plan assets	4.10%	4.60%	4.60%

Employee Benefit Plans Defined Benefit Plan Change in Benefit Obligations and Plan Assets Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]

Defined Benefit Plan, Benefit Obligation

$ (36,580)

$ (30,300)

Service costs

(1,230)

(1,050)

$ (1,120)

Interest costs

(930)

(1,070)

(1,100)

Participant contributions

(60)

Actuarial gain (loss)

^[1]

(2,420)

(4,190)

Benefit payments

1,140

900

Change in foreign currency

(750)

(810)

Defined Benefit Plan, Benefit Obligation

(40,830)

(36,580)

(30,300)

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

Fair value of plan assets

30,260

24,650

Actual return on plan assets

4,780

3,630

Employer contributions

1,140

1,930

Participant contributions

Benefit payments

(1,140)

(900)

Change in foreign currency

960

890

Fair value of plan assets

36,060

30,260

$ 24,650

Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]

Funded Status at December 31

$ (4,770)

$ (6,320)

[1]	The actuarial losses for the year ended December 31, 2020 and 2019 were primarily due to a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by other assumptions and experience gains.

Employee Benefit Plans Amounts Recognized on Balance Sheet Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Assets for Plan Benefits, Defined Benefit Plan	$ 4,470	$ 1,690
Defined Benefit Plan, Amounts Recognized in Balance Sheet
Current liabilities	(340)	(330)
Noncurrent liabilities	(8,900)	(7,680)
Net liability recognized at December 31	$ (4,770)	$ (6,320)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Employee Benefit Plans Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax
Unrecognized prior service cost	$ 170	$ 190
Unrecognized net loss/(gain)	11,470	13,240
Total accumulated other comprehensive income (loss) recognized at December 31	$ 11,640	$ 13,430

Employee Benefit Plans Plans with Benefit Obligations in Excess of Assets Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation	$ (38,410)	$ (34,460)
Defined Benefit Plan, Benefit Obligation	(40,830)	(36,580)	$ (30,300)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	(16,820)	(14,840)
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, PBO	(16,940)	(14,910)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets	7,700	6,890
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets	$ 7,700	$ 6,890

Employee Benefit Plans Effect of Change in Discount Rate and Expected Return on Plan Assets Table (Details) - Pension Plans, Defined Benefit [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Effect of Twenty-Five Basis Point Change in Discount Rate
Effect of Twenty-Five Basis Point Increase in Discount Rate on Benefit Obligation	$ (1,580)
Effect of Twenty-Five Basis Point Decrease in Discount Rate on Benefit Obligation	1,760
Effect of Twenty-Five Basis Point Increase in Discount Rate on Expense	(110)
Effect of Twenty-Five Basis Point Decrease in Discount Rate on Expense	110
Effect of Fifty Basis Point Change in Expected Return on Plan Assets
Effect of Fifty Basis Point Increase in Expected Return on Plan Assets on Expense	(170)
Effect of Fifty Basis Point Decrease in Expected Return on Plan Assets on Expense	$ 170

Employee Benefit Plans Weighted Average Asset Allocation by Pension Plan (Details)

Dec. 31, 2020

Dec. 31, 2019

Foreign Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

100.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

100.00%

Foreign Plan [Member] | Equity Securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

33.00%

30.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

33.00%

Foreign Plan [Member] | Fixed Income Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

44.00%

46.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

45.00%

Foreign Plan [Member] | Balanced Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

^[1]

22.00%

23.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

^[1]

22.00%

Foreign Plan [Member] | Cash and Cash Equivalents [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

1.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

0.00%

United States

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

100.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

100.00%

United States | Equity Securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

67.00%

62.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

60.00%

United States | Fixed Income Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

32.00%

34.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

36.00%

United States | Balanced Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

^[1]

0.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

^[1]

0.00%

United States | Cash and Cash Equivalents [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

1.00%

4.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

4.00%

[1]	Diversified growth funds invest in a broad range of asset classes including equities, investment grade and high yield bonds, commodities, property, private equity, infrastructure and currencies.

Employee Benefit Plans Pension Plan Assets Fair Value Hierarchy Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

$ 36,060

$ 30,260

$ 24,650

Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

7,970

Fair Value, Inputs, Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

Fixed Income Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Not Subject to Leveling

^[1]

12,880

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

2,500

Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

2,500

Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Fixed Income Funds [Member] | Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Cash and Cash Equivalents [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Not Subject to Leveling

^[1]

160

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

310

Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

310

Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Equity Securities [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Not Subject to Leveling

^[1]

9,180

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

5,160

Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

5,160

Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Subject to Leveling

Balanced Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Fair Value of Plan Assets Not Subject to Leveling

^[1]

$ 5,870

[1]

Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the fair value of plan assets.

Employee Benefit Plans Future Benefit Payments Table (Details) - Pension Plans, Defined Benefit [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected Future Benefit Payments, Next Twelve Months	$ 1,160
Expected Future Benefit Payments, Year Two	1,210
Expected Future Benefit Payments, Year Three	1,240
Expected Future Benefit Payments, Year Four	1,310
Expected Future Benefit Payments, Year Five	1,350
Expected Future Benefit Payments, Five Fiscal Years Thereafter	$ 7,710

Equity Awards - Equity Awards Narrative (Details)	Dec. 31, 2020 shares
2017 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Approved for Issuance	2,000,000
Director Retainer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Approved for Issuance	100,000

Equity Awards - Stock Options Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Granted	0	0	0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable/Vested stock options	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	0	50,000	50,000
Selling, General and Administrative Expenses [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 0.0	$ 0.1	$ 0.2

Equity Awards - Stock Option Activity Table (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Options Outstanding, beginning balance	150,000
Number of Options Granted	0	0	0
Number of Options Exercised	0
Number of Options Cancelled	0
Number of Options Expired	0
Number of Options Outstanding, ending balance	150,000	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options Outstanding, Weighted Average Price, beginning	$ 17.87
Options Granted, Weighted Average Price	0
Options Exercised, Weighted Average Price	0
Options Cancelled, Weighted Average Price	0
Options Expired, Weighted Average Price	0
Options Outstanding, Weighted Average Price, ending	$ 17.87	$ 17.87
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Options Average Remaining Contractual Life (Years)	5 years 7 months 6 days
Options Aggregate Intrinsic Value	$ 2,070,000

Equity Awards - Restricted Shares Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	487,034
Unrecognized Compensation Cost	$ 8.2
Period for Recognition of Share-based Compensation Cost Not yet Recognized	1 year 10 months 24 days
Restricted shares-based compensation expense	$ 8.2	$ 5.7	$ 6.9
Restricted Shares [Member] \| Non-employee independent director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares issued related to director fee deferrals	3,673	4,494	7,263
Plan 1 [Member] \| Service-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	190,650	139,575	141,203
Award requisite service period	3 years
Plan 2 [Member] \| Service-based restriced shares [Member] \| Non-employee independent director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	30,590	25,872	25,830
Award requisite service period	1 year
Plan 3 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	113,146
Award requisite service period	3 years
Risk-Free Interest Rate	0.56%
Expected Volatility	26.20%
Plan 5 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted		95,882
Plan 6 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted			104,532
Plan 7 [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	31,816
Award requisite service period	3 years
Plan 8 [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	2,558
Award requisite service period	1 year
Plan 9 [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	87,034
Award requisite service period	3 years
Risk-Free Interest Rate	0.85%
Expected Volatility	25.20%
3 year EPS CAGR metric [Member] \| Minimum [Member] \| Plan 3 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of shares earned % of target award	0.00%
3 year EPS CAGR metric [Member] \| Maximum [Member] \| Plan 3 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage earned based on metric over the performance period	50.00%
Amount of shares earned % of target award	200.00%
Total shareholder return metric [Member] \| Plan 4 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	27,567
Share-based Compensation Arrangement by Share-based Payment Award, Award percentage attained		127.40%
Total shareholder return metric [Member] \| Maximum [Member] \| Plan 3 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage earned based on metric over the performance period	50.00%
Average stock price [Member] \| Minimum [Member] \| Plan 9 [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of shares earned % of target award	0.00%
Average stock price [Member] \| Maximum [Member] \| Plan 9 [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of shares earned % of target award	160.00%

Equity Awards - Restricted Shares Activity Table (Details) - Restricted Shares [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Unvested Restricted Shares Outstanding, beginning balance \| shares	622,528
Number of Unvested Restricted Shares Granted \| shares	487,034
Number of Unvested Restricted Shares Vested \| shares	(302,924)
Number of Unvested Restricted Shares Cancelled \| shares	(21,670)
Number of Unvested Restricted Shares Outstanding, ending balance \| shares	784,968
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested Restricted Shares Outstanding, Weighted Average Grant Date Fair Value, beginning	$ 30.77
Unvested Restricted Shares Granted, Weighted Average Grant Date Fair Value	21.43
Unvested Restricted Shares Vested, Weighted Average Grant Date Fair Value	27.88
Unvested Restricted Shares Cancelled, Weighted Average Grant Date Fair Value	27.53
Unvested Restricted Shares Outstanding, Weighted Average Grant Date Fair Value, ending	$ 26.46
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Restricted Shares Average Remaining Contractual Life (Years)	1 year 2 months 12 days
Restricted Shares Aggregate Intrinsic Value	$ 24,859,937

Earnings per Share Earnings per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares—basic	43,581,232	45,303,659	45,824,555
Weighted average common shares—diluted	43,581,232	45,595,154	46,170,464
Restricted Shares [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	224,946	242,204
Stock Options [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	66,549	103,705

Earnings per Share Purchase of Common Stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Repurchased and Retired During Period, Value	$ 39,420,000	$ 36,740,000	$ 12,140,000
10b5-1 share repurchase program [Member]
Stock Repurchase Program, Authorized Amount	$ 250,000,000		$ 50,000,000
Stock Repurchased and Retired During Period, Shares	1,582,049	1,230,050	442,632
Stock Repurchased and Retired During Period, Value	$ 39,400,000	$ 36,700,000	$ 12,100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 161,700,000

Other Comprehensive Income (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]

Balance, at beginning of year

$ (6,000)

$ (16,850)

Net unrealized gains (losses) arising during the period

(260)

(630)

Less: Net realized gains reclassified to net income

(640)

(12,750)

Total other comprehensive income

380

12,120

$ 480

Reclassification of stranded tax effects

(1,270)

Balance, at end of year

(5,620)

(6,000)

(16,850)

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax

1,310

(1,470)

3,250

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax

(7,810)

3,300

4,110

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

6,880

10,290

(6,880)

Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax

400

500

Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax

400

500

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax

2,500

1,000

Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax

200

100

Defined Benefit Plans

Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]

Balance, at beginning of year

(9,930)

(7,200)

Net unrealized gains (losses) arising during the period

670

^[1]

(1,870)

^[2]

Less: Net realized gains reclassified to net income

(640)

^[3]

(400)

^[4]

Reclassification of stranded tax effects

(1,260)

Balance, at end of year

(8,620)

(9,930)

(7,200)

Derivative Instruments

Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]

Balance, at beginning of year

4,230

940

Net unrealized gains (losses) arising during the period

(7,810)

^[1]

3,300

^[2]

Less: Net realized gains reclassified to net income

Reclassification of stranded tax effects

(10)

Balance, at end of year

(3,580)

4,230

940

Foreign Currency Translation

Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]

Balance, at beginning of year

(300)

(10,590)

Net unrealized gains (losses) arising during the period

6,880

(2,060)

Less: Net realized gains reclassified to net income

(12,350)

Reclassification of stranded tax effects

Balance, at end of year

6,580

(300)

(10,590)

Accumulated Other Comprehensive Income [Member]

Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]

Total other comprehensive income

$ 380

$ 12,120

$ 480

[1]	Defined benefit plans, net of income tax of $0.4 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $2.5 million. See Note 14, "Derivative Instruments," for further details.
[2]	Defined benefit plans, net of income tax of $0.5 million. See Note 18, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $1.0 million. See Note 14, "Derivative Instruments," for further details.
[3]	Defined benefit plans, net of income tax of $0.2 million. See Note 18, "Employee Benefit Plans," for additional details
[4]	Defined benefit plans, net of income tax of $0.1 million. See Note 18, "Employee Benefit Plans," for additional details.

Segment Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Segment Reporting Information [Line Items]

Net sales

$ 769,970

$ 723,530

$ 705,030

Operating Profit (loss)

(88,290)

91,220

108,810

Capital Expenditures

40,480

29,670

23,420

Depreciation and Amortization

49,770

43,500

40,490

Assets

1,193,880

1,192,700

1,100,520

Packaging [Member]

Segment Reporting Information [Line Items]

Net sales

488,340

392,340

368,200

Operating Profit (loss)

93,990

80,770

84,590

Capital Expenditures

30,730

16,400

13,590

Depreciation and Amortization

27,600

24,650

21,620

Assets

721,440

546,950

435,140

Aerospace [Member]

Segment Reporting Information [Line Items]

Net sales

167,740

194,110

185,920

Operating Profit (loss)

(133,440)

28,950

27,290

Capital Expenditures

5,770

8,110

1,190

Depreciation and Amortization

18,130

15,090

15,190

Assets

348,190

393,260

392,140

Specialty Products [Member]

Segment Reporting Information [Line Items]

Net sales

113,890

137,080

150,910

Operating Profit (loss)

4,350

16,000

20,990

Capital Expenditures

3,890

5,090

3,750

Depreciation and Amortization

3,910

3,480

3,400

Assets

65,520

77,250

82,610

Corporate [Member]

Segment Reporting Information [Line Items]

Operating Profit (loss)

(53,190)

(34,500)

(24,060)

Capital Expenditures

^[1]

4,890

^[1]

Depreciation and Amortization

130

280

Assets

58,730

175,240

95,260

Continuing Operations [Member]

Segment Reporting Information [Line Items]

Assets

1,193,880

1,192,700

1,005,150

Discontinued Operations [Member]

Segment Reporting Information [Line Items]

Assets

$ 0

$ 95,370

[1]	(a) Corporate capital expenditures for the year ended December 31, 2018 are primarily related to purchases of machinery and equipment formerly held under operating leases. These purchased assets were subsequently transferred from Corporate to the segment utilizing the assets.

Segment Information Revenues and Operating Net Assets by Geographical Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 769,970	$ 723,530	$ 705,030
Long-lived Assets	763,230	710,360	656,490
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	116,350	87,420	54,920
Long-lived Assets	225,120	110,530	53,770
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	46,350	37,920	38,920
Long-lived Assets	41,140	40,720	44,230
Other Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	11,740	6,290	6,170
Long-lived Assets	19,510	18,430	7,500
Non-US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	174,440	131,630	100,010
Long-lived Assets	285,770	169,680	105,500
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	595,530	591,900	605,020
Long-lived Assets	$ 477,460	$ 540,680	$ 550,990

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Segment Information Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Export Sales from the United States of America	$ 70.0	$ 74.1	$ 69.9

Income Taxes Income Tax by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ (134,630)	$ 52,190	$ 64,670
Income (Loss) from Continuing Operations before Income Taxes, Foreign	31,920	26,070	27,690
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(102,710)	78,260	92,360
Current Federal Tax Expense (Benefit)	200	3,530	4,410
Current State and Local Tax Expense (Benefit)	810	1,280	2,060
Current Foreign Tax Expense (Benefit)	7,750	7,070	6,200
Current Income Tax Expense (Benefit)	8,760	11,880	12,670
Deferred Federal Income Tax Expense (Benefit)	(16,900)	4,890	4,570
Deferred State and Local Income Tax Expense (Benefit)	(4,430)	500	1,310
Deferred Foreign Income Tax Expense (Benefit)	(10,380)	(950)	100
Deferred Income Tax Expense (Benefit)	(31,710)	4,440	5,980
Income Tax Expense (Benefit), Continuing Operations	$ (22,950)	$ 16,320	$ 18,650

Income Taxes Components of Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Components of Deferred Tax Assets
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	$ 260	$ 480
Deferred Tax Assets, Inventory	5,080	4,390
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other	19,190	12,210
Deferred Tax Assets, Operating lease liability	8,950	6,790
Deferred Tax Assets, Operating Loss and Credit Carryforwards	20,760	9,200
Deferred Tax Assets, Other	340	340
Deferred Tax Assets, Gross	54,580	33,410
Deferred Tax Assets, Valuation Allowance	(10,180)	(8,310)
Deferred Tax Assets, Net of Valuation Allowance	44,400	25,100
Components of Deferred Tax Liabilities
Deferred Tax Liabilities, Property, Plant and Equipment	(24,140)	(20,650)
Deferred Tax Liabilities, Right of Use Asset	(8,930)	(6,700)
Deferred Tax Liabilities, Goodwill and Intangible Assets	(16,230)	(13,250)
Deferred Tax Liabilities, Investment in Foreign Affiliates, Including Withholding Tax	(370)	(830)
Deferred Tax Liabilities, Gross	(49,670)	(41,430)
Deferred Tax Liabilities, Net	$ (5,270)	$ (16,330)

Income Taxes Income Tax Expense Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	35.00%
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate	$ (21,570)	$ 16,440	$ 19,390
Income Tax Reconciliation, State and Local Income Taxes	(2,850)	970	2,730
Income Tax Reconciliation, Foreign Income Tax Rate Differential	(1,500)	(870)	490
Income Tax Reconciliation, Tax Contingencies	(920)	(920)	(560)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount	13,430	0	0
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	0	(570)	(940)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	(2,130)	(1,160)	(1,740)
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance	(6,390)	3,580	280
Income Tax Reconciliation, Tax Reform	0	0	(400)	$ 12,700
Income Tax Reconciliation, Other Adjustments	(1,020)	(1,150)	(600)
Income Tax Expense (Benefit), Continuing Operations	(22,950)	16,320	18,650
Valuation Allowance [Line Items]
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance	(6,390)	$ 3,580	$ 280
Foreign Tax Authority [Member]
Valuation Allowance [Line Items]
Other Tax Expense (Benefit)	$ (6,400)

Income Taxes Operating Loss Carryforwards Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 43.4
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 61.6

Income Taxes Tax Reform (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Income Taxes Tax Reform (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	21.00%	21.00%	35.00%
Income Tax Reconciliation, Tax Reform		$ 0	$ 0	$ (400)	$ 12,700
Deferred Tax Asset Revaluation [Member]
Income Tax Reconciliation, Tax Reform	$ 1,100
Repatriation of Undistributed Non-U.S. Subsidiary Earnings [Member]
Income Tax Reconciliation, Tax Reform	$ 700

Income Taxes Unrecognized Tax Benefits Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 1,640	$ 2,250	$ 3,020
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,400	1,900
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 800	$ 1,400

Income Taxes Unrecognized Tax Benefits Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning	$ 2,250	$ 3,020
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions	150	110
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions	0	0
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions	0	0
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities	0	0
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations	(760)	(880)
Unrecognized Tax Benefits, Ending	$ 1,640	$ 2,250

Summary Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 769,970	$ 723,530	$ 705,030
Gross Profit	182,080	193,900	200,110
Income (loss) from continuing operations	(79,760)	61,940	73,710
Income from discontinued operations, net of income taxes	0	36,680	9,590
Net income (loss)	$ (79,760)	$ 98,620	$ 83,300
Basic earnings (loss) per share:
Continuing operations	$ (1.83)	$ 1.37	$ 1.61
Discontinued operations	0	0.81	0.21
Net income (loss) per share	$ (1.83)	$ 2.18	$ 1.82
Weighted average shares—basic	43,581,232	45,303,659	45,824,555
Diluted earnings (loss) per share:
Continuing operations	$ (1.83)	$ 1.36	$ 1.60
Discontinued operations	0	0.80	0.20
Net income (loss) per share	$ (1.83)	$ 2.16	$ 1.80
Weighted average shares—diluted	43,581,232	45,595,154	46,170,464