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Long-term Debt - Fair Value (Details) - 4.125% Senior Unsecured Notes Due 2029 - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt	$ 400,000	$ 400,000
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 364,000	$ 344,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Employee Benefit Plans Plans with Benefit Obligations in Excess of Assets Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Accumulated Benefit Obligation

$ (27,260)

$ (25,400)

Defined Benefit Plan, Benefit Obligation

(27,470)

^[1]

(25,560)

^[1]

$ (37,560)

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation

(13,590)

(13,000)

Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, PBO

(13,800)

(13,170)

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets

9,450

8,220

Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets

$ 9,450

$ 8,220

[1]	U.S. projected benefit obligations were $13.2 million and $12.6 million at December 31, 2023 and 2022, respectively. Non-U.S. projected benefit obligations were $14.3 million and $13.0 million at December 31, 2023 and 2022, respectively.

Summary of Significant Accounting Policies - High Deductible Insurance (Details) $ in Millions	Dec. 31, 2023 USD ($)
Workers' Compensation [Member]
Insurance coverage [Line Items]
Maximum Retention	$ 0.8
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 (Notes)	12 Months Ended
Summary of Significant Accounting Policies (Notes)	Dec. 31, 2023
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 fair value of contingent consideration resulting from business combinations, 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, if any, held on deposit with a financial institution as cash collateral for the Company's outstanding letters of credit. Receivables. Receivables are presented net of allowances for doubtful accounts of $4.2 million and $1.7 million at December 31, 2023 and 2022, respectively. 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 consolidated statement of income. 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 2023 goodwill impairment test, the Company had six reporting units, four 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 value 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 value. The Company places more weight on the events and circumstances that most affect a reporting unit's fair value or the carrying value 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 value. The Company also considers its most recent valuations of its reporting units, including the difference between the most recent fair value estimate and the carrying value. 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 or if the Company elects the option to bypass the qualitative assessment, the Company determines the fair value of the reporting unit being evaluated utilizing a combination of two valuation techniques: discounted cash flow (income approach) and market comparable method (market approach). 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 valuation 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 7, "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 value of the Company's indefinite-lived intangible assets. The Company also considers its most recent valuations of its indefinite-lived intangible assets, including the difference between the most recent fair value estimates and the carrying values. 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 7, "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, up to $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 16, "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." Pre-tax asbestos-related charges are included in selling, general and administrative expenses in the accompanying consolidated statement of income. See Note 15, "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 21, "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. The impact of net foreign currency transactions was a gain of $0.3 million and $0.7 million for the years ended December 31, 2023 and 2022, respectively, and a loss of $0.9 million for the year ended December 31, 2021, and are included in other income (expense), net in the accompanying consolidated statement of income. 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, the changes in the fair value of the derivative is recognized as a component of other comprehensive income (loss) 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 changes in the fair value of the derivative is recognized in other comprehensive income (loss) 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 12, "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 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 17, "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 shareholders' 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.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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


	Year ended December 31,
	2023		2022		2021
Income before income taxes:
Domestic	$	20,660	$	56,750	$	28,380
Foreign	29,930		30,920		40,730
Total income before income taxes	$	50,590	$	87,670	$	69,110
Current income tax expense:
Federal	$	2,740	$	13,300	$	940
State and local	670		3,470		530
Foreign	8,690		6,170		8,840
Total current income tax expense	12,100		22,940		10,310
Deferred income tax expense (benefit):
Federal	1,800		(1,780)		5,450
State and local	150		50		670
Foreign	(3,820)		290		(4,630)
Total deferred income tax expense (benefit)	(1,870)		(1,440)		1,490
Income tax expense	$	10,230	$	21,500	$	11,800

Schedule of Deferred Tax Assets and Liabilities

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


	December 31, 2023		December 31, 2022
Deferred tax assets:
Accounts receivable	$	1,770	$	1,290
Inventories	7,260		5,640

Accrued liabilities and other long-term liabilities	16,780		14,580
Operating lease liability	10,690		12,670
Research and experimentation costs	6,530		4,130
Tax loss and credit carryforwards	28,880		27,310
Other	(470)		110
Gross deferred tax asset	71,440		65,730
Valuation allowances	(15,960)		(17,180)
Net deferred tax asset	55,480		48,550
Deferred tax liabilities:
Property and equipment	(30,300)		(25,100)
Right of use asset	(10,150)		(12,170)
Goodwill and other intangible assets	(27,580)		(22,050)
Investment in foreign affiliates, including withholding tax	(510)		(770)

Gross deferred tax liability	(68,540)		(60,090)
Net deferred tax liability	$	(13,060)	$	(11,540)

Schedule of Effective Income Tax Rate Reconciliation

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


	Year ended December 31,
	2023			2022			2021
U.S. federal statutory rate	21		%	21		%	21		%
Tax at U.S. federal statutory rate	$	10,610		$	18,380		$	14,550
State and local taxes, net of federal tax benefit	710			2,790			960
Differences in statutory foreign tax rates	2,980			1,150			(1,690)
Change in recognized tax benefits	(130)			(600)			(550)





Tax credits and incentives	(1,570)			(1,260)			(5,060)

Net change in valuation allowance	(2,700)			340			2,100
Nondeductible compensation	560			990			2,280


Other, net	(230)			(290)			(790)
Income tax expense	$	10,230		$	21,500		$	11,800

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the UTBs for the years ended December 31, 2023 and 2022 is as follows (dollars in thousands):


	Unrecognized Tax Benefits
Balance at December 31, 2021	$	1,250
Tax positions related to current year:
Additions	140
Tax positions related to prior years:
Additions	—
Reductions	(50)
Settlements	—
Lapses in the statutes of limitations	(230)
Balance at December 31, 2022	$	1,110
Tax positions related to current year:
Additions	140
Tax positions related to prior years:
Additions	—
Reductions	(20)
Settlements	—
Lapses in the statutes of limitations	(400)
Balance at December 31, 2023	$	830

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

Dec. 31, 2023

Dec. 31, 2022

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

0.00%

14.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

0.00%

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

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

99.00%

66.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

100.00%

Foreign Plan [Member] | Balanced Funds [Member]

Defined Benefit Plan Disclosure [Line Items]

Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage

^[1]

0.00%

19.00%

Defined Benefit Plan, Plan Assets, Target Allocation, Percentage

^[1]

0.00%

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

60.00%

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

38.00%

37.00%

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

2.00%

3.00%

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 Defined Benefit Plan Narrative (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Estimated Future Employer Contributions
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year	$ 1,200
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ (1,020)	$ (150)	$ 0

Summary of Significant Accounting Policies - Depreciation and Amortization (Details)	Dec. 31, 2023
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

Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Asbestos-related liability, noncurrent	$ 23,880	$ 26,370
Other long-term liabilities other than asbestos liability	16,740	29,970
Other long-term liabilities	$ 40,620	$ 56,340

Employee Benefit Plans Defined Benefit Plan Change in Benefit Obligations and Plan Assets Table (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

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

Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]

Other income (expense), net

Pension Plans, Defined Benefit [Member]

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

Defined Benefit Plan, Benefit Obligation

$ (25,560)

^[1]

$ (37,560)

Service costs

(490)

(690)

$ (1,280)

Interest costs

(1,290)

(890)

(800)

Participant contributions

(10)

Actuarial gain (loss)

^[2]

(780)

10,260

Benefit payments

1,300

1,310

Settlements and curtailments

Change in foreign currency

(740)

2,020

Defined Benefit Plan, Benefit Obligation

(27,470)

^[1]

(25,560)

^[1]

(37,560)

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

Fair value of plan assets

25,470

^[3]

38,130

Actual return on plan assets

1,540

(10,070)

Employer contributions

1,260

1,520

Participant contributions

Benefit payments

(1,300)

(1,310)

Settlements

(90)

Change in foreign currency

920

(2,810)

Fair value of plan assets

27,800

^[3]

25,470

^[3]

$ 38,130

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

Funded Status at December 31

330

(90)

Pension Plans, Defined Benefit [Member] | Foreign Plan [Member]

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

Defined Benefit Plan, Benefit Obligation

(13,000)

Defined Benefit Plan, Benefit Obligation

(14,300)

(13,000)

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

Fair value of plan assets

17,300

Fair value of plan assets

18,300

17,300

Pension Plans, Defined Benefit [Member] | United States

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

Defined Benefit Plan, Benefit Obligation

(12,600)

Defined Benefit Plan, Benefit Obligation

(13,200)

(12,600)

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

Fair value of plan assets

8,200

Fair value of plan assets

$ 9,500

$ 8,200

[1]	U.S. projected benefit obligations were $13.2 million and $12.6 million at December 31, 2023 and 2022, respectively. Non-U.S. projected benefit obligations were $14.3 million and $13.0 million at December 31, 2023 and 2022, respectively.
[2]	The actuarial loss for the year ended December 31, 2023 was primarily due to changes in demographic assumptions as well as a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience gains. The actuarial gain for the year ended December 31, 2022 was primarily due to an increase in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience losses.
[3]	The fair value of U.S. plan assets was $9.5 million and $8.2 million at December 31, 2023 and 2022, respectively. The fair value of non-U.S. plan assets was $18.3 million and $17.3 million at December 31, 2023 and 2022, respectively

Long-term Debt - Credit Agreement (Details) $ in Thousands	3 Months Ended	12 Months Ended
Long-term Debt - Credit Agreement (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Net leverage ratio	3.00	3.00
Debt financing and related expenses		$ 0	$ 0	$ (10,520)
Line of credit, borrowing capacity considering covenant restrictions	$ 256,900	256,900
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Incremental debt commitments capacity	200,000	200,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000	$ 300,000
Debt Instrument, Maturity Date		Mar. 29, 2026
Payments of Financing Costs				1,100
Write off of Deferred Debt Issuance Cost				$ 200
Revolving Credit Facility [Member] \| Geographic Distribution, Foreign
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.625%
Revolving Credit Facility [Member] \| Geographic Distribution, Domestic
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.725%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases	$ 125,000	$ 125,000
Revolving Credit Facility, Amount Outstanding	0	0	0
Revolving Credit Facility, Remaining Borrowing Capacity	294,000	294,000	293,900
Letters of credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	40,000	40,000
Letters of Credit Outstanding, Amount	$ 6,000	$ 6,000	$ 6,100

Employee Benefit Plans (Notes)

12 Months Ended

Dec. 31, 2023

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 income under this plan were $4.6 million, $3.7 million and $3.4 million in 2023, 2022 and 2021, 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 income for defined benefit pension plans include the following components (dollars in thousands):


	Pension Benefit
	2023		2022		2021
Service cost	$	490	$	690	$	1,280
Interest cost	1,290		890		800
Expected return on plan assets	(2,140)		(1,590)		(1,530)

Settlements and curtailments	1,020		150		—
Amortization of net loss	120		570		910
Net periodic benefit expense (a)	$	780	$	710	$	1,460

__________________________

(a) The net periodic benefit expense for the U.S. defined benefit pension plans was $0.5 million, $0.9 million and $1.0 million for 2023, 2022 and 2021, respectively. The net periodic benefit expense (income) for the non-U.S. defined benefit pension plans was $0.3 million, $(0.2) million and $0.4 million for 2023, 2022 and 2021, respectively.

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 income (expense), net in the accompanying consolidated statement of income.

During 2023, the Company recognized a one-time, pre-tax settlement charge of $1.0 million related to the purchase of an annuity contract to transfer the Company's Canadian defined benefit obligations to an insurance company.

During 2022, the Company recorded a non-cash curtailment expense of $0.2 million, as it transitioned certain active employees previously participating in a defined benefit plan in the United Kingdom to a defined contribution plan, thereby eliminating future service cost accruals for all employees under this defined benefit plan.

Actuarial valuations of the Company's defined benefit pension plans were prepared as of December 31, 2023, 2022 and 2021. Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:


	Pension Benefit
	2023		2022		2021
Discount rate for obligations	5.05	%	5.24	%	3.06	%
Discount rate for benefit costs	5.24	%	3.06	%	2.79	%
Rate of increase in compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.13	%	6.13	%	6.13	%

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
	2023		2022		2021
Discount rate for obligations	4.70	%	4.90	%	2.10	%
Discount rate for benefit costs	4.90	%	2.10	%	1.50	%
Rate of increase in compensation levels	5.50	%	4.80	%	3.30	%
Expected long-term rate of return on plan assets	6.60	%	4.20	%	3.90	%

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, 2023 and 2022 and the funded status as of December 31, 2023 and 2022 (dollars in thousands):


	Pension Benefit
	2023		2022
Changes in Projected Benefit Obligations
Benefit obligations at January 1	$	(25,560)	$	(37,560)
Service cost	(490)		(690)
Interest cost	(1,290)		(890)
Participant contributions	—		(10)
Actuarial (loss) gain (a)	(780)		10,260
Benefit payments	1,300		1,310

Settlements	90		—

Change in foreign currency	(740)		2,020
Projected benefit obligations at December 31 (b)	$	(27,470)	$	(25,560)
Changes in Plan Assets
Fair value of plan assets at January 1	$	25,470	$	38,130
Actual return on plan assets	1,540		(10,070)
Employer contributions	1,260		1,520
Participant contributions	—		10
Benefit payments	(1,300)		(1,310)

Settlements	(90)		—
Change in foreign currency	920		(2,810)
Fair value of plan assets at December 31 (c)	$	27,800	$	25,470
Funded status at December 31	$	330	$	(90)

__________________________

(a) The actuarial loss for the year ended December 31, 2023 was primarily due to changes in demographic assumptions as well as a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience gains. The actuarial gain for the year ended December 31, 2022 was primarily due to an increase in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience losses.

(b) U.S. projected benefit obligations were $13.2 million and $12.6 million at December 31, 2023 and 2022, respectively. Non-U.S. projected benefit obligations were $14.3 million and $13.0 million at December 31, 2023 and 2022, respectively.

(c) The fair value of U.S. plan assets was $9.5 million and $8.2 million at December 31, 2023 and 2022, respectively. The fair value of non-U.S. plan assets was $18.3 million and $17.3 million at December 31, 2023 and 2022, respectively.


	Pension Benefit
	2023		2022
Amounts Recognized in Balance Sheet
Other assets	$	4,680	$	4,860
Current liabilities	(310)		(310)
Noncurrent liabilities	(4,040)		(4,640)
Net asset (liability) recognized at December 31	$	330	$	(90)


	Pension Benefit
	2023		2022
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	20	$	160
Unrecognized net loss	7,740		7,370
Total accumulated other comprehensive loss recognized at December 31	$	7,760	$	7,530


	Accumulated Benefit Obligations				Projected Benefit Obligations
	2023		2022		2023		2022
Benefit Obligations at December 31,
Total benefit obligations	$	(27,260)	$	(25,400)	$	(27,470)	$	(25,560)
Plans with benefit obligations exceeding plan assets
Benefit obligations	$	(13,590)	$	(13,000)	$	(13,800)	$	(13,170)
Plan assets	$	9,450	$	8,220	$	9,450	$	8,220

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, 2023 Benefit Obligation		2023 Expense
Discount rate
25 basis point increase	$	(830)	$	(30)
25 basis point decrease	$	870	$	30
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 $1.2 million to fund its pension plans during 2024.

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, 2023 and 2022 and target allocations by class, were as follows:


	Domestic Pension						Foreign Pension
			Actual						Actual
	Target		2023		2022		Target		2023		2022
Equity securities	60	%	60	%	60	%	—	%	—	%	14	%
Fixed income	36	%	38	%	37	%	100	%	99	%	66	%
Diversified growth(a)	—	%	—	%	—	%	—	%	—	%	19	%

Cash and other	4	%	2	%	3	%	—		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, 2023 (dollars in thousands):


	Total		Level 1		Level 2		Level 3
Plan assets subject to leveling
Investment funds
Equity securities	$	5,720	$	5,720	$	—	$	—

Cash and cash equivalents	200		200		—		—
Plan assets measured at net asset value(a)
Investment funds

Fixed income	21,710


Cash and cash equivalents	170

Total	$	27,800	$	5,920	$	—	$	—

________________________________________

(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):


Year ended December 31,	Pension Benefit
2024	$	1,310
2025	1,370
2026	1,410
2027	1,480
2028	1,560
Years 2029-2033	9,270

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, accumulated amortization	$ (252,200)	$ (233,700)
Total finite and indefinite-lived other intangible assets, gross carrying amount	433,220	421,810
Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	271,090	261,310
Finite-lived intangible assets, accumulated amortization	(169,620)	(154,380)
Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	100,270	100,160
Finite-lived intangible assets, accumulated amortization	(82,580)	(79,320)
Trademarks and Trade Names [Member]
Intangible Assets, excluding Goodwill [Line Items]
Indefinite-lived intangible assets, gross carrying amount	61,860	60,340
Useful Life Five to Twelve Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	141,260	131,660
Finite-lived intangible assets, accumulated amortization	(89,020)	(80,000)
Useful Life Fifteen to Twentyfive Years [Member] \| Customer Relationships [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	129,830	129,650
Finite-lived intangible assets, accumulated amortization	(80,600)	(74,380)
Useful Life One to Fifteen Years [Member] \| Technology and Other [Member]
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	56,970	56,860
Finite-lived intangible assets, accumulated amortization	(41,850)	(38,990)
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	$ (40,730)	$ (40,330)
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

Long-term Debt - Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 15, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Debt financing and related expenses		$ 0	$ 0	$ 10,520
Senior Notes [Member] \| 4.875% Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	4.875%
Debt Instrument, Redemption Price, Percentage	102.438%
Payment for Debt Extinguishment or Debt Prepayment Cost				7,300
Write off of Deferred Debt Issuance Cost				3,000
Senior Notes [Member] \| 4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 400,000
Debt Instrument, Interest Rate, Stated Percentage		4.125%
Debt Instrument, Maturity Date		Apr. 15, 2029
Payments of Financing Costs				5,100
Debt Issuance Costs, Noncurrent, Net					$ 5,100
Percentage of principal that can be redeemed with cash proceeds from an equity offering		40.00%
Debt instrument redemption price with net proceeds from equity offering		104.125%
Debt Instrument, Redemption Price, Percentage		100.00%
Senior Notes [Member] \| 4.125% Senior Unsecured Notes Due 2029 \| Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		102.063%
Senior Notes [Member] \| 4.125% Senior Unsecured Notes Due 2029 \| Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		101.031%
Senior Notes [Member] \| 4.125% Senior Unsecured Notes Due 2029 \| Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date		Mar. 29, 2026
Payments of Financing Costs				1,100
Write off of Deferred Debt Issuance Cost				$ 200

Employee Benefit Plans Assumptions Used for Non-U.S. Defined Pension Plans Table (Details) - Foreign Plan [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate for obligations	4.70%	4.90%	2.10%
Discount rate for benefit costs	4.90%	2.10%	1.50%
Rate of increase in compensation levels	5.50%	4.80%	3.30%
Expected long-term rate of return on plan assets	6.60%	4.20%	3.90%

Acquisitions Acquisitions - Narrative (Details) $ in Thousands, € in Millions		12 Months Ended
	Jul. 10, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 21, 2023 USD ($)	Feb. 01, 2023 USD ($)	Feb. 28, 2022 USD ($)	Dec. 05, 2021 USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 77,340		$ 64,100	$ 34,340
Net sales		893,550		883,830	857,110
Goodwill		363,770		339,810	315,490
Intertech Plastics LLC
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ 64,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								$ 12,200
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital								6,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								13,500
Goodwill								$ 32,400
Omega Plastics
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired					22,500
TFI Aerospace
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired					$ 11,800
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low									$ 0
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High									12,000
Business Combination, Contingent Consideration, Liability									$ 3,700
Weldmac Manufacturing Company
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		34,000
Net sales		33,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low		0				$ 0
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		4,500				10,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment						23,700
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital						$ 20,300
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 5,500
Aarts Packaging B.V. [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 37,800
Net sales \| €			€ 23
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							$ 8,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities							3,900
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Net Working Capital							7,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							10,900
Goodwill							20,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other							$ 5,500

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor [Line Items]
Auditor Location	Detroit, Michigan
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34

Income Taxes Income Tax Expense Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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%
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate	$ 10,610	$ 18,380	$ 14,550
Income Tax Reconciliation, State and Local Income Taxes	710	2,790	960
Income Tax Reconciliation, Foreign Income Tax Rate Differential	2,980	1,150	(1,690)
Income Tax Reconciliation, Tax Contingencies	(130)	(600)	(550)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	(1,570)	(1,260)	(5,060)
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance	(2,700)	340	2,100
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	560	990	2,280
Income Tax Reconciliation, Other Adjustments	(230)	(290)	(790)
Income Tax Expense (Benefit), Continuing Operations	$ 10,230	$ 21,500	$ 11,800

Goodwill and Other Intangible Assets - Expected Amortization Expense (Details) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 17,220
Finite-Lived Intangible Assets, Amortization Expense, Year Two	16,870
Finite-Lived Intangible Assets, Amortization Expense, Year Three	15,140
Finite-Lived Intangible Assets, Amortization Expense, Year Four	15,080
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 15,060

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Supplemental Balance Sheet Information about Leases of Lessee

Supplemental balance sheet information related to the Company's leases are shown below (dollars in thousands):


	Balance Sheet Location	December 31, 2023		December 31, 2022
Assets
Operating leases	Operating lease right-of-use assets	$	43,220	$	47,280
Finance leases	Property and equipment, net (a)	2,470		—
Total lease assets		$	45,690	$	47,280
Liabilities
Current:
Operating leases	Lease liabilities, current portion	$	7,410	$	8,280
Finance leases	Lease liabilities, current portion	490		—
Long-term:
Operating leases	Lease liabilities	37,980		41,010
Finance leases	Lease liabilities	1,710		—
Total lease liabilities		$	47,590	$	49,290

__________________________

(a) Finance leases were recorded net of accumulated depreciation of $0.2 million as of December 31, 2023.

Lease, Cost [Table Text Block]

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


		Year ended December 31,
	Statement of Income Location	2023		2022		2021
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	11,180	$	10,560	$	8,510
Finance lease cost:
Depreciation of lease assets	Cost of sales	220		—		—
Interest on lease liabilities	Interest expense	60		—		—
Short-term, variable and other lease costs	Cost of sales and Selling, general and administrative expenses	3,430		3,350		2,460
Total lease cost		$	14,890	$	13,910	$	10,970

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)		Finance Leases(a)
2024	$	9,560	$	540
2025	8,150		530
2026	8,620		600
2027	7,540		700
2028	5,600		—
Thereafter	12,950		—
Total lease payments	52,420		2,370
Less: Imputed interest	(7,030)		(170)
Present value of lease liabilities	$	45,390	$	2,200

__________________________

(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.

Supplemental Cash Flow Information Related to Leases

Other information related to the Company's leases are as follows (dollars in thousands):


	Year ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,250	$	9,900	$	7,880
Operating cash flows from finance leases	60		—		—
Financing cash flows from finance leases	450		—		—
Lease assets obtained in exchange for new lease liabilities:
Operating leases	8,340		5,790		19,600
Finance leases	2,620		—		—

Leases Maturities of Lease Liabilities (Details)
$ in Thousands

Dec. 31, 2023

USD ($)

^[1]

Leases [Abstract]

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

$ 9,560

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

8,150

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

8,620

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

7,540

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

5,600

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

12,950

Lessee, Operating Lease, Liability, Payments, Due

52,420

Lessee, Operating Lease, Liability, Undiscounted Excess Amount

(7,030)

Operating Lease, Liability

45,390

Finance Lease, Liability, to be Paid, Year One

540

Finance Lease, Liability, to be Paid, Year Two

530

Finance Lease, Liability, to be Paid, Year Three

600

Finance Lease, Liability, to be Paid, Year Four

700

Finance Lease, Liability, to be Paid, Year Five

Finance Lease, Liability, to be Paid, after Year Five

Finance Lease, Liability, to be Paid

2,370

Finance Lease, Liability, Undiscounted Excess Amount

(170)

Finance Lease, Liability

$ 2,200

[1]	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.

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 893,550	$ 883,830	$ 857,110
Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	381,930	419,410	424,320
Aerospace & Defense [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	241,400	188,090	183,340
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 270,220	$ 276,330	$ 249,450

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

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


	December 31, 2023		December 31, 2022
Land and land improvements	$	32,840	$	15,220
Building and building improvements	99,230		90,910
Machinery and equipment	502,090		461,480
	634,160		567,610
Less: Accumulated depreciation	304,170		289,860
Property and equipment, net	$	329,990	$	277,750

Depreciation Expense

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


	Year ended December 31,
	2023		2022		2021
Depreciation expense, included in cost of sales	$	38,520	$	33,130	$	30,770
Depreciation expense, included in selling, general and administrative expense	890		990		1,120
Total depreciation expense	$	39,410	$	34,120	$	31,890

Summary of Significant Accounting Policies - Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Allowance for Doubtful Accounts	$ 4.2	$ 1.7

Consolidated Statement of Cash Flows Statement - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ 40,360	$ 66,170	$ 57,310
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:
Impairment of indefinite-lived intangible assets	1,120	0	0
(Gain) loss on dispositions of assets	180	(21,950)	130
Depreciation	39,410	34,120	31,890
Amortization of intangible assets	18,180	19,100	21,560
Amortization of debt issue costs	930	910	960
Deferred income taxes	(1,710)	(1,400)	1,680
Non-cash compensation expense	9,670	9,840	9,500
Provision for losses on accounts receivable	2,450	0	0
Debt financing and related expenses	0	0	10,520
Change in legacy liability estimate	0	5,590	1,450
(Increase) decrease in receivables	(5,520)	(6,650)	(11,180)
(Increase) decrease in inventories	(7,070)	(6,970)	(960)
Decrease in prepaid expenses and other assets	4,760	6,120	5,030
Increase (decrease) in accounts payable and accrued liabilities	(14,520)	(29,130)	2,120
Other operating activities	(80)	(3,180)	4,210
Net cash provided by operating activities	88,160	72,570	134,220
Cash Flows from Investing Activities:
Capital expenditures	(54,190)	(45,960)	(45,060)
Acquisition of businesses, net of cash acquired	(77,340)	(64,100)	(34,340)
Cross-currency swap terminations	(3,370)	26,230	0
Net proceeds from dispositions businesses, property and equipment	480	28,790	220
Net cash used for investing activities	(134,420)	(55,040)	(79,180)
Cash Flows from Financing Activities:
Retirement of senior notes	0	0	(300,000)
Proceeds from issuance of senior notes	0	0	400,000
Proceeds from borrowings on revolving credit facilities	117,990	12,000	0
Repayments of borrowings on revolving credit facilities	(117,430)	(12,000)	(48,620)
Debt financing fees and senior notes redemption premium	0	0	(13,570)
Payments to purchase common stock	(18,780)	(36,920)	(19,090)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,700)	(2,380)	(5,230)
Dividends paid	(6,700)	(6,880)	(1,740)
Other financing activities	(3,320)	0	0
Net cash provided by (used for) financing activities	(30,940)	(46,180)	11,750
Increase (decrease) for the year	(77,200)	(28,650)	66,790
At beginning of year	112,090	140,740	73,950
At end of year	34,890	112,090	140,740
Supplemental disclosure of cash flow information:
Cash paid for interest	14,320	12,960	13,280
Cash paid for income taxes	$ 16,770	$ 20,060	$ 10,520

Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income


	Pension Benefit
	2023		2022
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	20	$	160
Unrecognized net loss	7,740		7,370
Total accumulated other comprehensive loss recognized at December 31	$	7,760	$	7,530

Changes in AOCI by component for the year ended December 31, 2023 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)
Net unrealized gains (losses) arising during the period (a)	(1,040)		(2,060)		11,680		8,580
Less: Net realized losses reclassified to net income (b)	(690)		—		—		(690)
Net current-period other comprehensive income (loss)	(350)		(2,060)		11,680		9,270

Balance, December 31, 2023	$	(5,730)	$	13,260	$	(6,880)	$	650

__________________________

(a) Defined benefit plans, net of income tax of $0.4 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $0.7 million. See Note 12, "Derivative Instruments," for further details.

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2022, are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2021	$	(4,830)	$	5,910	$	(850)	$	230
Net unrealized gains (losses) arising during the period (a)	(1,070)		9,410		(17,710)		(9,370)
Less: Net realized losses reclassified to net income (b)	(520)		—		—		(520)
Net current-period other comprehensive income (loss)	(550)		9,410		(17,710)		(8,850)

Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)

__________________________

(a) Defined benefit plans, net of income tax of $0.3 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $3.2 million. See Note 12, "Derivative Instruments," for further details.

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

Earnings per Share (Notes)

12 Months Ended

Dec. 31, 2023

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


	Year ended December 31,
	2023	2022	2021
Weighted average common shares—basic	41,439,027	42,249,244	43,006,922
Dilutive effect of restricted stock units	246,321	228,771	261,858
Dilutive effect of stock options	—	—	12,296
Weighted average common shares—diluted	41,685,348	42,478,015	43,281,076

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 2023, 2022 and 2021, the Company purchased 680,594, 1,264,088 and 596,084 shares of its outstanding common stock for $18.8 million, $36.9 million and $19.1 million, respectively. As of December 31, 2023, the Company has $86.9 million remaining under the repurchase authorization.

Holders of common stock are entitled to dividends at the discretion of the Company's Board of Directors. In 2021, the Company's Board of Directors declared the first dividend since the Company's initial public offering in 2007. Since the fourth quarter of 2021, we have declared dividends of $0.04 per share of common stock in each quarter, and total dividends declared and paid on common shares during 2023, 2022 and 2021 were $6.7 million, $6.9 million and $1.7 million, respectively.

Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balances at Dec. 31, 2020	$ 584,250	$ 430	$ 749,050	$ (159,610)	$ (5,620)
Net income (loss)	57,310			57,310
Other comprehensive income (loss)	5,850				5,850
Purchase of common stock	(19,090)	0	(19,090)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(5,230)		(5,230)
Non-cash compensation expense	9,500	0	9,500
Dividends declared	(1,740)		(1,740)
Balances at Dec. 31, 2021	630,850	430	732,490	(102,300)	230
Net income (loss)	66,170			66,170
Other comprehensive income (loss)	(8,850)				(8,850)
Purchase of common stock	(36,920)	(10)	(36,910)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,380)		(2,380)
Non-cash compensation expense	9,840	0	9,840
Dividends declared	(6,880)		(6,880)
Balances at Dec. 31, 2022	651,830	420	696,160	(36,130)	(8,620)
Net income (loss)	40,360			40,360
Other comprehensive income (loss)	9,270				9,270
Purchase of common stock	(18,780)	(10)	(18,770)
Shares surrendered upon exercise and vesting of equity awards to cover taxes	(2,700)		(2,700)
Non-cash compensation expense	9,670	0	9,670
Dividends declared	(6,700)		(6,700)
Balances at Dec. 31, 2023	$ 682,950	$ 410	$ 677,660	$ 4,230	$ 650

- 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

Consolidated Balance Sheet Parentheticals - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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
Common Stock, Shares, Issued	41,202,110	41,724,762
Common Stock, Shares, Outstanding	41,202,110	41,724,762
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

Leases Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
Leases Lease Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Cost	$ 11,180	$ 10,560	$ 8,510
Finance Lease, Right-of-Use Asset, Amortization	220	0	0
Finance Lease, Interest Expense	60	0	0
Short-term, variable and other lease costs	3,430	3,350	2,460
Lease, Cost	$ 14,890	$ 13,910	$ 10,970

Segment Information Revenues and Operating Net Assets by Geographical Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 893,550	$ 883,830	$ 857,110
Long-lived Assets	874,780	805,670	777,850
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	153,120	139,780	160,650
Long-lived Assets	238,640	192,600	209,380
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	34,240	35,260	41,310
Long-lived Assets	27,000	29,720	37,080
Other Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	24,950	18,040	15,290
Long-lived Assets	45,120	41,840	42,000
Non-US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	212,310	193,080	217,250
Long-lived Assets	310,760	264,160	288,460
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	681,240	690,750	639,860
Long-lived Assets	$ 564,020	$ 541,510	$ 489,390

- 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

+ Details

Segment Information (Notes)

12 Months Ended

Dec. 31, 2022

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 each of 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 – TriMas' Packaging segment consists primarily of the Rieke, Affaba & Ferrari, Taplast, Rapak, Plastic Srl, Aarts Packaging, Intertech and Omega brands. TriMas Packaging develops and manufactures a broad array of dispensing products (such as foaming pumps, lotion, hand soap and 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 resistant caps, beverage closures, fragrance and cosmetic caps, drum and pail closures, and flexible spouts), polymeric jar products, fully integrated dispensers for fill-ready bag-in-box applications, and consumable vascular delivery and diagnostic test components, all for a variety of consumer products submarkets including, but not limited to, beauty and personal care, food and beverage, home care, and life sciences, including, but not limited to, pharmaceutical, nutraceutical, and medical, as well as industrial markets (including agricultural).

Aerospace – TriMas' Aerospace segment, which includes the Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, TFI Aerospace, RSA Engineered Products, Martinic Engineering, and Weldmac Manufacturing Company 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 – TriMas' Specialty Products segment, which includes the Norris Cylinder and Arrow Engine brands, designs, manufactures and distributes highly-engineered steel cylinders for use within industrial and aerospace markets, natural gas-fired engines for remote power generation applications and compression systems for use within the North American industrial oil and gas markets.

Segment activity is as follows (dollars in thousands):


	Year ended December 31,
	2023		2022		2021
Net Sales
Packaging	$	463,600	$	522,180	$	533,260
Aerospace	241,400		188,090		183,340
Specialty Products	188,550		173,560		140,510
Total	$	893,550	$	883,830	$	857,110
Operating Profit (Loss)
Packaging	$	60,140	$	81,000	$	96,490
Aerospace (a)	15,520		8,060		13,270
Specialty Products	36,400		30,250		22,550
Corporate (b) (c)	(46,620)		(20,250)		(37,220)
Total	$	65,440	$	99,060	$	95,090
Capital Expenditures
Packaging	$	29,060	$	33,170	$	34,080
Aerospace	14,620		6,900		5,390
Specialty Products	10,410		5,860		5,500
Corporate (c)	100		30		90
Total	$	54,190	$	45,960	$	45,060
Depreciation and Amortization
Packaging	$	34,170	$	29,340	$	30,500
Aerospace	19,160		19,620		18,700
Specialty Products	4,130		4,130		4,120
Corporate (c)	130		130		130
Total	$	57,590	$	53,220	$	53,450
Total Assets
Packaging	$	830,620	$	776,550	$	739,920
Aerospace	390,910		347,720		353,800
Specialty Products	92,770		86,290		73,260
Corporate (c)	27,360		94,440		136,660


Total	$	1,341,660	$	1,305,000	$	1,303,640

__________________________

(a) In 2022, the Company completed the sale of vacant land adjacent to the Company's Tolleson, Arizona, manufacturing facility for net proceeds of $5.0 million, and recognized a $4.8 million gain on the sale, which is included within the Aerospace segment.

(b) In 2022, the Company sold a non-core facility in City of Industry, California, for net proceeds of $23.3 million, and recognized a $17.6 million gain on the sale, which is included in Corporate operating loss for 2022 and included within net gain (loss) on disposition of assets in the accompanying consolidated statement of income.

(c) Corporate consists of our corporate office and related corporate activities. Corporate expenses primarily include compensation, benefits, professional services, information technology and other administrative costs. Corporate assets consist primarily of cash and cash equivalents, unallocated deferred tax assets and prepaid assets. Corporate expenses and assets reconcile reportable segment information to the consolidated totals.

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, by geographical area (dollars in thousands).


	As of December 31,
	2023				2022				2021
	Net Sales		Long-lived Assets		Net Sales		Long-lived Assets		Net Sales		Long-lived Assets
Non-U.S.
Europe	$	153,120	$	238,640	$	139,780	$	192,600	$	160,650	$	209,380
Asia Pacific	34,240		27,000		35,260		29,720		41,310		37,080
Other Americas	24,950		45,120		18,040		41,840		15,290		42,000
Total non-U.S.	212,310		310,760		193,080		264,160		217,250		288,460

Total U.S.	681,240		564,020		690,750		541,510		639,860		489,390
Total	$	893,550	$	874,780	$	883,830	$	805,670	$	857,110	$	777,850

The Company's export sales from the U.S. approximated $72.2 million, $74.5 million and $80.6 million in 2023, 2022 and 2021, 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
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation (Notes)	12 Months Ended
Basis of Presentation (Notes)	Dec. 31, 2023
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. The preparation of financial statements 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 and volatility in the current economic environment due to input cost inflation, supply chain disruptions, shortages in global markets for commodities, logistics and labor. To the extent there are differences between these estimates and actual results, the Company's consolidated financial statements may be materially affected.

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 82,300	$ 74,280
Work in process	51,990	38,090
Raw materials	58,160	50,990
Total inventories	$ 192,450	$ 163,360

Goodwill and Other Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

The Company performed a quantitative assessment as part of its 2023 annual impairment test (October 1 annual test date) for all reporting units with goodwill after electing the option to bypass the qualitative assessment. 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. 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 weighted average cost of capital 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 comparable publicly traded companies and transactions within the industries where the Company's reporting units participate, and applied their valuation multiples to management's forecast estimates. Based on results of the quantitative assessment for the 2023 annual impairment test, the Company determined there were no indications that the fair value of a reporting unit was less than its carrying value.

The Company performed a qualitative assessment as part of its 2022 and 2021 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 2022 and 2021 annual impairment tests, the Company determined there were no indications that the fair value of a reporting unit was less than its carrying value; therefore, the Company determined that quantitative goodwill impairment tests were not required.

Changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 are as follows (dollars in thousands):


					Specialty
	Packaging		Aerospace		Products		Total
Balance, December 31, 2021	$	238,740	$	70,190	$	6,560	$	315,490
Goodwill from acquisitions	32,370		—		—		32,370


Foreign currency translation and other	(7,560)		(490)		—		(8,050)
Balance, December 31, 2022	$	263,550	$	69,700	$	6,560	$	339,810
Goodwill from acquisitions	20,420		—		—		20,420


Foreign currency translation and other	3,380		160		—		3,540
Balance, December 31, 2023	$	287,350	$	69,860	$	6,560	$	363,770

Other Intangible Assets

For the purpose of the Company's 2023 annual indefinite-lived intangible asset impairment test (as of October 1), the Company elected the option to bypass the qualitative assessment and performed a quantitative assessment for all of its indefinite-lived intangible assets except for the Aarts trade name, using the relief-from-royalty method. The Company performed a qualitative assessment for the Aarts trade name as it was acquired less than one year prior and has long-term sales projections consistent with those expected in the purchase price valuation. Significant management assumptions used under the relief-from-royalty method reflected the Company's current assessment of the risks and uncertainties associated with the cash flows of the respective underlying indefinite-lived intangible assets and represent Level 3 inputs under the fair value hierarchy. Upon completion of the quantitative impairment test, the Company determined that one of the Company's aerospace-related trade names had a carrying value that exceeded its fair value, and therefore recorded an impairment charge of $1.1 million.

For the purposes of the Company's 2022 and 2021 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 2022 and 2021 annual indefinite-lived intangible asset impairment tests.

The gross carrying amounts and accumulated amortization of the Company's other intangibles as of December 31, 2023 and 2022 are summarized below (dollars in thousands):


	As of December 31, 2023				As of December 31, 2022
Intangible Category by Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships, 5 - 12 years	$	141,260	$	(89,020)	$	131,660	$	(80,000)
Customer relationships, 15 - 25 years	129,830		(80,600)		129,650		(74,380)
Total customer relationships	271,090		(169,620)		261,310		(154,380)
Technology and other, 1 - 15 years	56,970		(41,850)		56,860		(38,990)
Technology and other, 17 - 30 years	43,300		(40,730)		43,300		(40,330)
Total technology and other	100,270		(82,580)		100,160		(79,320)
Indefinite-lived intangible assets:
Trademark/Trade names	61,860		—		60,340		—
Total other intangible assets	$	433,220	$	(252,200)	$	421,810	$	(233,700)

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


	Year ended December 31,
	2023		2022		2021
Technology and other, included in cost of sales	$	3,210	$	3,300	$	3,820
Customer relationships, included in selling, general and administrative expenses	14,970		15,800		17,740
Total amortization expense	$	18,180	$	19,100	$	21,560

Estimated amortization expense for the next five fiscal years beginning after December 31, 2023 is as follows (dollars in thousands):


Year ended December 31,	Estimated Amortization Expense
2024		$	17,220
2025		16,870
2026		15,140
2027		15,080
2028		15,060

Employee Benefit Plans Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax
Unrecognized prior service cost	$ 20	$ 160
Unrecognized net loss/(gain)	7,740	7,370
Total accumulated other comprehensive income (loss) recognized at December 31	$ 7,760	$ 7,530

Income Taxes (Notes)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Tax Disclosure

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


	Year ended December 31,
	2023		2022		2021
Income before income taxes:
Domestic	$	20,660	$	56,750	$	28,380
Foreign	29,930		30,920		40,730
Total income before income taxes	$	50,590	$	87,670	$	69,110
Current income tax expense:
Federal	$	2,740	$	13,300	$	940
State and local	670		3,470		530
Foreign	8,690		6,170		8,840
Total current income tax expense	12,100		22,940		10,310
Deferred income tax expense (benefit):
Federal	1,800		(1,780)		5,450
State and local	150		50		670
Foreign	(3,820)		290		(4,630)
Total deferred income tax expense (benefit)	(1,870)		(1,440)		1,490
Income tax expense	$	10,230	$	21,500	$	11,800

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


	December 31, 2023		December 31, 2022
Deferred tax assets:
Accounts receivable	$	1,770	$	1,290
Inventories	7,260		5,640

Accrued liabilities and other long-term liabilities	16,780		14,580
Operating lease liability	10,690		12,670
Research and experimentation costs	6,530		4,130
Tax loss and credit carryforwards	28,880		27,310
Other	(470)		110
Gross deferred tax asset	71,440		65,730
Valuation allowances	(15,960)		(17,180)
Net deferred tax asset	55,480		48,550
Deferred tax liabilities:
Property and equipment	(30,300)		(25,100)
Right of use asset	(10,150)		(12,170)
Goodwill and other intangible assets	(27,580)		(22,050)
Investment in foreign affiliates, including withholding tax	(510)		(770)

Gross deferred tax liability	(68,540)		(60,090)
Net deferred tax liability	$	(13,060)	$	(11,540)

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


	Year ended December 31,
	2023			2022			2021
U.S. federal statutory rate	21		%	21		%	21		%
Tax at U.S. federal statutory rate	$	10,610		$	18,380		$	14,550
State and local taxes, net of federal tax benefit	710			2,790			960
Differences in statutory foreign tax rates	2,980			1,150			(1,690)
Change in recognized tax benefits	(130)			(600)			(550)





Tax credits and incentives	(1,570)			(1,260)			(5,060)

Net change in valuation allowance	(2,700)			340			2,100
Nondeductible compensation	560			990			2,280


Other, net	(230)			(290)			(790)
Income tax expense	$	10,230		$	21,500		$	11,800

The Company has recorded deferred tax assets on $25.4 million of various state operating loss carryforwards and $60.5 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, 2023.

Unrecognized Tax Benefits

The Company had $0.8 million and $1.1 million of unrecognized tax benefits ("UTBs") as of December 31, 2023 and 2022, 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, 2023 and 2022 by $1.0 million and $1.1 million, respectively.

A reconciliation of the change in the UTBs for the years ended December 31, 2023 and 2022 is as follows (dollars in thousands):


	Unrecognized Tax Benefits
Balance at December 31, 2021	$	1,250
Tax positions related to current year:
Additions	140
Tax positions related to prior years:
Additions	—
Reductions	(50)
Settlements	—
Lapses in the statutes of limitations	(230)
Balance at December 31, 2022	$	1,110
Tax positions related to current year:
Additions	140
Tax positions related to prior years:
Additions	—
Reductions	(20)
Settlements	—
Lapses in the statutes of limitations	(400)
Balance at December 31, 2023	$	830

In addition to the UTBs summarized above, the Company has recorded $0.4 million and $0.8 million in potential interest and penalties associated with uncertain tax positions as of December 31, 2023 and 2022, respectively.

The Company is subject to U.S. federal, state and local, and certain non-U.S. income tax examinations for tax years 2016 through 2023. 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

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, 2023	Dec. 31, 2022
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 6,510	$ 0
Other long-term liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0	$ 7,090

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

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


	December 31, 2023		December 31, 2022
Finished goods	$	82,300	$	74,280
Work in process	51,990		38,090
Raw materials	58,160		50,990
Total inventories	$	192,450	$	163,360

Derivative Instruments - Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
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		$ (7,090)
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	(6,510)	(7,090)
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	(6,510)
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)	(1,790)
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)	(1,790)
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

Equity Awards - Restricted Shares Activity Table (Details) - Restricted Shares [Member]	12 Months Ended
	Dec. 31, 2023 $ / 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	719,449
Number of Unvested Restricted Shares Granted \| shares	410,495
Number of Unvested Restricted Shares Vested \| shares	(252,054)
Number of Unvested Restricted Shares Cancelled \| shares	(186,054)
Number of Unvested Restricted Shares Outstanding, ending balance \| shares	691,836
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	$ 28.40
Unvested Restricted Shares Granted, Weighted Average Grant Date Fair Value	29.23
Unvested Restricted Shares Vested, Weighted Average Grant Date Fair Value	27.79
Unvested Restricted Shares Cancelled, Weighted Average Grant Date Fair Value	21.52
Unvested Restricted Shares Outstanding, Weighted Average Grant Date Fair Value, ending	$ 30.97
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 1 month 6 days
Restricted Shares Aggregate Intrinsic Value	$ 17,524,206

Earnings per Share Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.04
Dividends, Common Stock, Cash	$ 6,700	$ 6,880	$ 1,740

Accrued Liabilities (Notes)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

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


	December 31, 2023		December 31, 2022
Accrued payroll	$	15,990	$	18,050
High deductible insurance	6,250		5,530
Derivatives liability	6,510		—
Other	30,890		23,080
Total accrued liabilities	$	59,640	$	46,660

Other Comprehensive Income (Notes)

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income [Abstract]

Other Comprehensive Income

Other Comprehensive Income (Loss)

Changes in AOCI by component for the year ended December 31, 2023 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)
Net unrealized gains (losses) arising during the period (a)	(1,040)		(2,060)		11,680		8,580
Less: Net realized losses reclassified to net income (b)	(690)		—		—		(690)
Net current-period other comprehensive income (loss)	(350)		(2,060)		11,680		9,270

Balance, December 31, 2023	$	(5,730)	$	13,260	$	(6,880)	$	650

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2022, are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2021	$	(4,830)	$	5,910	$	(850)	$	230
Net unrealized gains (losses) arising during the period (a)	(1,070)		9,410		(17,710)		(9,370)
Less: Net realized losses reclassified to net income (b)	(520)		—		—		(520)
Net current-period other comprehensive income (loss)	(550)		9,410		(17,710)		(8,850)

Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Segment Reporting Information [Line Items]

Net sales

$ 893,550

$ 883,830

$ 857,110

Operating Profit (loss)

65,440

99,060

95,090

Capital Expenditures

54,190

45,960

45,060

Depreciation and Amortization

57,590

53,220

53,450

Assets

1,341,660

1,305,000

1,303,640

Net gain (loss) on dispositions of assets

(180)

21,950

(130)

Proceeds from Sale of Property, Plant, and Equipment

23,300

Packaging [Member]

Segment Reporting Information [Line Items]

Net sales

463,600

522,180

533,260

Operating Profit (loss)

60,140

81,000

96,490

Capital Expenditures

29,060

33,170

34,080

Depreciation and Amortization

34,170

29,340

30,500

Assets

830,620

776,550

739,920

Aerospace [Member]

Segment Reporting Information [Line Items]

Net sales

241,400

188,090

183,340

Operating Profit (loss)

15,520

8,060

^[1]

13,270

Capital Expenditures

14,620

6,900

5,390

Depreciation and Amortization

19,160

19,620

18,700

Assets

390,910

347,720

353,800

Proceeds from Sale of Property, Plant, and Equipment

5,000

Aerospace [Member] | Land and Land Improvements [Member]

Segment Reporting Information [Line Items]

Net gain (loss) on dispositions of assets

4,800

Specialty Products [Member]

Segment Reporting Information [Line Items]

Net sales

188,550

173,560

140,510

Operating Profit (loss)

36,400

30,250

22,550

Capital Expenditures

10,410

5,860

5,500

Depreciation and Amortization

4,130

4,120

Assets

92,770

86,290

73,260

Corporate [Member]

Segment Reporting Information [Line Items]

Operating Profit (loss)

(46,620)

^[2]

(20,250)

^[3]

(37,220)

Capital Expenditures

100

^[2]

Depreciation and Amortization

130

^[2]

130

Assets

$ 27,360

^[2]

94,440

$ 136,660

Net gain (loss) on dispositions of assets

$ 17,600

[1]	In 2022, the Company completed the sale of vacant land adjacent to the Company's Tolleson, Arizona, manufacturing facility for net proceeds of $5.0 million, and recognized a $4.8 million gain on the sale, which is included within the Aerospace segment.
[2]	Corporate consists of our corporate office and related corporate activities. Corporate expenses primarily include compensation, benefits, professional services, information technology and other administrative costs. Corporate assets consist primarily of cash and cash equivalents, unallocated deferred tax assets and prepaid assets. Corporate expenses and assets reconcile reportable segment information to the consolidated totals.
[3]	In 2022, the Company sold a non-core facility in City of Industry, California, for net proceeds of $23.3 million, and recognized a $17.6 million gain on the sale, which is included in Corporate operating loss for 2022 and included within net gain (loss) on disposition of assets in the accompanying consolidated statement of income.

Commitments and Contingencies - Asbestos Narrative (Details) - Asbestos [Member] $ in Millions	12 Months Ended			384 Months Ended
	Dec. 31, 2022 USD ($) claimants	Dec. 31, 2021 USD ($) claimants	Dec. 31, 2019	Dec. 31, 2022 USD ($) claimants	Dec. 31, 2023 USD ($) cases claimants	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 claimants
Loss Contingencies [Line Items]
Number of pending cases \| cases					459
Number of pending claims \| claimants	4,798	4,754		4,798	4,863			4,655
Number of pending claims seeking specific amounts of damages \| claimants					33
Total settlement costs				$ 13.1
Percentage of settlement and defense costs covered by insurance			40.00%
Liabilities Subject to Compromise, Asbestos Obligations					$ 26.6
Liability for Asbestos and Environmental Claims, Gross, Period Increase (Decrease)	$ 5.6	$ 1.5
Minimum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations						$ 29.6	$ 28.2
Maximum [Member]
Loss Contingencies [Line Items]
Liabilities Subject to Compromise, Asbestos Obligations						$ 39.5
Punitive Only Damages [Member] \| Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants					0

Income Taxes Unrecognized Tax Benefits Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning	$ 1,110	$ 1,250
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions	140	140
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions	0	0
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions	(20)	(50)
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities	0	0
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations	(400)	(230)
Unrecognized Tax Benefits, Ending	$ 830	$ 1,110

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
High deductible insurance	$ 6,250	$ 5,530
Accrued payroll	15,990	18,050
Liability Derivatives	6,510	0
Other	30,890	23,080
Total accrued liabilities	$ 59,640	$ 46,660

Commitments and Contingencies (Notes)

12 Months Ended

Dec. 31, 2023

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, 2023, the Company was a party to 459 pending cases involving an aggregate of 4,863 claimants primarily alleging personal injury from exposure to asbestos containing materials formerly used in gaskets (both encapsulated and otherwise) manufactured or distributed by its former Lamons division 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, 2023	4,798	261	160	36	4,863	$	15,465	$	1,920,000
Fiscal year ended December 31, 2022	4,754	236	168	24	4,798	$	79,869	$	2,180,000
Fiscal year ended December 31, 2021	4,655	265	134	32	4,754	$	16,819	$	1,950,000

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 4,863 claims pending at December 31, 2023, 33 set forth specific amounts of damages (other than those stating the statutory minimum or maximum). At December 31, 2023, of the 33 claims that set forth specific amounts, there were no claims seeking more than $5 million 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 of the 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 30 years ago, have been $13.1 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.

The Company accrues for all asbestos-related future defense costs for both known and unknown claims, which the Company believes are reasonably estimable. The Company’s liability for asbestos-related claims is 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. In 2021, the Company commissioned its actuary to update the asbestos study based on data as of September 30, 2021. The Company recorded a non-cash, pre-tax charge of $1.5 million to increase the liability estimate to $28.2 million, at the low-end of the range of the 2021 study. In 2022, the Company commissioned its actuary to update the asbestos study based on data as of September 30, 2022, which yielded a range of possible future liability of $29.6 million to $39.5 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 a non-cash, pre-tax charge of $5.6 million to increase the liability estimate to $29.6 million, at the low-end of the range. As of December 31, 2023, the Company’s total asbestos-related liability was $26.6 million.

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.

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, results of operations, 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.

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
	Sep. 30, 2022	Dec. 31, 2023	Jul. 27, 2022
Derivative [Line Items]
Derivative, Cash Received on Hedge	$ 26.2
Maximum [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 150.0	$ 250.0
Derivative, Fixed Interest Rate		2.60%	2.90%
Minimum [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 75.0	$ 25.0
Derivative, Fixed Interest Rate		2.40%	0.80%

Inventories (Notes)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

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


	December 31, 2023		December 31, 2022
Finished goods	$	82,300	$	74,280
Work in process	51,990		38,090
Raw materials	58,160		50,990
Total inventories	$	192,450	$	163,360

Employee Benefit Plans - Net Periodic Pension and Postretirement Benefit Costs (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]

Other income (expense), net

Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Other income (expense), net

Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Other income (expense), net

Pension Plans, Defined Benefit [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Service costs

$ 490

$ 690

$ 1,280

Interest costs

1,290

890

800

Expected return on plan assets

(2,140)

(1,590)

(1,530)

Settlements and curtailments loss

1,020

150

Amortization of net (gain)/loss

120

570

910

Net periodic benefit cost (income)

^[1]

780

710

1,460

Pension Plans, Defined Benefit [Member] | Foreign Plan [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Settlements and curtailments loss

200

Net periodic benefit cost (income)

300

(200)

400

Pension Plans, Defined Benefit [Member] | United States

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net periodic benefit cost (income)

$ 500

$ 900

$ 1,000

[1]

The net periodic benefit expense for the U.S. defined benefit pension plans was $0.5 million, $0.9 million and $1.0 million for 2023, 2022 and 2021, respectively. The net periodic benefit expense (income) for the non-U.S. defined benefit pension plans was $0.3 million, $(0.2) million and $0.4 million for 2023, 2022 and 2021, respectively

Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities [Table Text Block]

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


	December 31, 2023		December 31, 2022
Non-current asbestos-related liabilities	$	23,880	$	26,370
Other long-term liabilities	16,740		29,970
Total other long-term liabilities	$	40,620	$	56,340

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 40,360	$ 66,170	$ 57,310
Other comprehensive income
Defined benefit plans	(350)	(550)	3,790
Foreign currency translation	11,680	(17,710)	(7,430)
Derivative instruments	(2,060)	9,410	9,490
Total other comprehensive income (loss)	9,270	(8,850)	5,850
Total comprehensive income (loss)	$ 49,630	$ 57,320	$ 63,160

- 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

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 893,550	$ 883,830	$ 857,110
Cost of sales	(692,230)	(675,530)	(639,920)
Gross profit	201,320	208,300	217,190
Selling, general and administrative expenses	(134,580)	(131,190)	(121,970)
Net gain (loss) on dispositions of assets	(180)	21,950	(130)
Impairment of indefinite-lived intangible assets	(1,120)	0	0
Operating profit (loss)	65,440	99,060	95,090
Other expense, net:
Interest expense	(15,920)	(14,110)	(14,510)
Debt financing and related expenses	0	0	(10,520)
Other income (expense), net	1,070	2,720	(950)
Other expense, net	(14,850)	(11,390)	(25,980)
Income (loss) before income taxes	50,590	87,670	69,110
Income tax benefit (expense)	(10,230)	(21,500)	(11,800)
Net income (loss)	$ 40,360	$ 66,170	$ 57,310
Basic earnings (loss) per share:
Net income (loss) per share	$ 0.97	$ 1.57	$ 1.33
Weighted average common shares—basic	41,439,027	42,249,244	43,006,922
Diluted earnings (loss) per share:
Net income (loss) per share	$ 0.97	$ 1.56	$ 1.32
Weighted average common shares—diluted	41,685,348	42,478,015	43,281,076

Summary of Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Expense, Net [Member]
Foreign Currency Translation [Line Items]
Net Foreign Currency Transaction Gains (Losses)	$ 0.3	$ 0.7	$ (0.9)

Consolidated Balance Sheet Statement - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 34,890	$ 112,090
Receivables, net	148,030	132,370
Inventories	192,450	163,360
Prepaid expenses and other current assets	22,010	14,840
Total current assets	397,380	422,660
Property and equipment, net	329,990	277,750
Operating lease right-of-use assets	43,220	47,280
Goodwill	363,770	339,810
Other intangibles, net	181,020	188,110
Deferred income taxes	10,230	9,400
Other assets	16,050	19,990
Total assets	1,341,660	1,305,000
Current liabilities:
Accounts payable	91,910	85,210
Accrued liabilities	59,640	46,660
Lease liabilities, current portion	7,900	8,280
Total current liabilities	159,450	140,150
Long-term debt, net	395,660	394,730
Lease liabilities	39,690	41,010
Deferred income taxes	23,290	20,940
Other long-term liabilities	40,620	56,340
Total liabilities	658,710	653,170
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: 41,202,110 shares at December 31, 2023 and 41,724,762 shares at December 31, 2022	410	420
Paid-in capital	677,660	696,160
Retained earnings (accumulated deficit)	4,230	(36,130)
Accumulated other comprehensive income (loss)	650	(8,620)
Total shareholders' equity	682,950	651,830
Total liabilities and shareholders' equity	$ 1,341,660	$ 1,305,000

Realignment Actions (Notes)	12 Months Ended
Realignment Actions (Notes)	Dec. 31, 2023
Realignment Actions [Abstract]
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	Realignment Actions 2023 Realignment Actions During 2023, the Company incurred realignment charges in its Packaging segment, related to the closure and consolidation of two manufacturing facilities located in China into one new, larger facility in the Haining region, and for costs incurred to close and consolidate its Rohnert Park, California, manufacturing facility operations into other existing U.S. production locations. In connection with these actions, the Company recorded pre-tax realignment charges of $10.3 million, of which $2.1 million were for employee-related costs, $0.8 million were for inventory write-downs, $5.2 million were for other facility move and consolidation costs, and $2.2 million were related to charges to accelerate the depreciation of certain fixed assets. During 2023, $9.4 million and $0.9 million of these charges were included in cost of sales and selling, general and administrative expenses, respectively, in the accompanying consolidated statement of income. 2022 Realignment Actions During 2022, the Company incurred realignment charges in its Packaging segment, related to adjusting its labor force in facilities with lower demand, finalizing its Indianapolis, Indiana, facility consolidation, costs incurred to reorganize its benefit plans in the United Kingdom, and for costs incurred as part of the Company's start-up and relocation to a new, larger facility in New Albany, Ohio. The Company also completed the Aerospace segment footprint realignment which began in 2021. In connection with these actions, the Company recorded pre-tax realignment charges of $5.0 million, of which $2.7 million related to facility move and consolidation costs and $2.3 million was for employee-related costs. During 2022, $2.8 million of these charges were included in cost of sales, $2.0 million of these charges were included in selling, general and administrative expenses and $0.2 million of these charges were included in net gain (loss) on dispositions of assets in the accompanying consolidated statement of income. 2021 Realignment Actions During 2021, the Company executed certain realignment actions in response to reductions in current and expected future end market demand. First, the Company closed its Packaging segment's Union City, California, manufacturing facility, consolidating the operation into its Indianapolis, Indiana, and Woodridge, Illinois, facilities. The Company also realigned its Aerospace segment footprint, consolidating certain activities previously in its Stanton, California, facilities into its Tolleson, Arizona, facility. In addition, the Company also reorganized its corporate office legal and finance groups. The Company recorded pre-tax realignment charges of $9.7 million, of which $3.5 million related to facility consolidations and $6.2 million were for employee separation costs. As of December 31, 2021, $2.4 million of the employee separation costs had been paid. During 2021, $4.1 million of these charges were included in cost of sales and $5.6 million were included in selling, general and administrative expenses, respectively, in the accompanying consolidated statement of income.

Leases (Notes)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating Leases

Leases

The majority of the Company's lease obligations are non-cancelable operating leases for certain equipment and facilities. The Company's finance leases are for certain equipment as part of the Company's acquisition of Aarts. 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.

Supplemental balance sheet information related to the Company's leases are shown below (dollars in thousands):


	Balance Sheet Location	December 31, 2023		December 31, 2022
Assets
Operating leases	Operating lease right-of-use assets	$	43,220	$	47,280
Finance leases	Property and equipment, net (a)	2,470		—
Total lease assets		$	45,690	$	47,280
Liabilities
Current:
Operating leases	Lease liabilities, current portion	$	7,410	$	8,280
Finance leases	Lease liabilities, current portion	490		—
Long-term:
Operating leases	Lease liabilities	37,980		41,010
Finance leases	Lease liabilities	1,710		—
Total lease liabilities		$	47,590	$	49,290

__________________________

(a) Finance leases were recorded net of accumulated depreciation of $0.2 million as of December 31, 2023.

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


		Year ended December 31,
	Statement of Income Location	2023		2022		2021
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	11,180	$	10,560	$	8,510
Finance lease cost:
Depreciation of lease assets	Cost of sales	220		—		—
Interest on lease liabilities	Interest expense	60		—		—
Short-term, variable and other lease costs	Cost of sales and Selling, general and administrative expenses	3,430		3,350		2,460
Total lease cost		$	14,890	$	13,910	$	10,970

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


Year ended December 31,	Operating Leases(a)		Finance Leases(a)
2024	$	9,560	$	540
2025	8,150		530
2026	8,620		600
2027	7,540		700
2028	5,600		—
Thereafter	12,950		—
Total lease payments	52,420		2,370
Less: Imputed interest	(7,030)		(170)
Present value of lease liabilities	$	45,390	$	2,200

__________________________

Other information related to the Company's leases are as follows (dollars in thousands):


	Year ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,250	$	9,900	$	7,880
Operating cash flows from finance leases	60		—		—
Financing cash flows from finance leases	450		—		—
Lease assets obtained in exchange for new lease liabilities:
Operating leases	8,340		5,790		19,600
Finance leases	2,620		—		—

The weighted-average remaining term of the Company's operating leases and finance leases as of December 31, 2023, is 6.5 and 3.5 years, respectively. The weighted-average discount rate for operating and finance leases as of December 31, 2023, is 4.0% and 2.6%, respectively.

Property and Equipment, Net - Depreciation Expense Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Depreciation Expense [Line Items]
Depreciation expense	$ 39,410	$ 34,120	$ 31,890
Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	39,410	34,120	31,890
Cost of Sales [Member] \| Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	38,520	33,130	30,770
Selling, General and Administrative Expenses [Member] \| Continuing Operations [Member]
Depreciation Expense [Line Items]
Depreciation expense	$ 890	$ 990	$ 1,120

Income Taxes Unrecognized Tax Benefits Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 830	$ 1,110	$ 1,250
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,000	1,100
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 400	$ 800

Earnings per Share Purchase of Common Stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2015
Stock Repurchased and Retired During Period, Value	$ 18,780,000	$ 36,920,000	$ 19,090,000
10b5-1 share repurchase program [Member]
Stock Repurchase Program, Authorized Amount	$ 250,000,000			$ 50,000,000
Stock Repurchased and Retired During Period, Shares	680,594	1,264,088	596,084
Stock Repurchased and Retired During Period, Value	$ 18,800,000	$ 36,900,000	$ 19,100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 86,900,000

Document and Entity Information Document - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
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, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		41,028,045
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Public Float			$ 1.1
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Document Transition Report	false
Entity Tax Identification Number	38-2687639
Trading Symbol	TRS
Security Exchange Name	NASDAQ

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

Dec. 31, 2023

Dec. 31, 2022

^[1]

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

$ 27,800

^[1]

$ 25,470

$ 38,130

Fair Value, Inputs, Level 1 [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair Value of Plan Assets

5,920

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

^[2]

21,710

Cash and Cash Equivalents [Member]

Defined Benefit Plan Disclosure [Line Items]

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

^[2]

170

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

200

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

200

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 Subject to Leveling

5,720

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

5,720

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

$ 0

[1]	The fair value of U.S. plan assets was $9.5 million and $8.2 million at December 31, 2023 and 2022, respectively. The fair value of non-U.S. plan assets was $18.3 million and $17.3 million at December 31, 2023 and 2022, respectively
[2]	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.

Goodwill and Other Intangible Assets - Other Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 18,180	$ 19,100	$ 21,560
Cost of Sales [Member] \| Technology and Other [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	3,210	3,300	3,820
Selling, General and Administrative Expenses [Member] \| Customer Relationships [Member]
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 14,970	$ 15,800	$ 17,740

Long-term Debt - Debt Table (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt issuance costs	$ (4,340)	$ (5,270)
Long-term debt, net	395,660	394,730
4.125% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Debt	$ 400,000	$ 400,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Costs of Retirement Plans

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


	Pension Benefit
	2023		2022		2021
Service cost	$	490	$	690	$	1,280
Interest cost	1,290		890		800
Expected return on plan assets	(2,140)		(1,590)		(1,530)

Settlements and curtailments	1,020		150		—
Amortization of net loss	120		570		910
Net periodic benefit expense (a)	$	780	$	710	$	1,460

__________________________

Schedule of Assumptions Used

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


	Pension Benefit
	2023		2022		2021
Discount rate for obligations	5.05	%	5.24	%	3.06	%
Discount rate for benefit costs	5.24	%	3.06	%	2.79	%
Rate of increase in compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.13	%	6.13	%	6.13	%

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


	Pension Benefit
	2023		2022		2021
Discount rate for obligations	4.70	%	4.90	%	2.10	%
Discount rate for benefit costs	4.90	%	2.10	%	1.50	%
Rate of increase in compensation levels	5.50	%	4.80	%	3.30	%
Expected long-term rate of return on plan assets	6.60	%	4.20	%	3.90	%

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


	Pension Benefit
	2023		2022
Changes in Projected Benefit Obligations
Benefit obligations at January 1	$	(25,560)	$	(37,560)
Service cost	(490)		(690)
Interest cost	(1,290)		(890)
Participant contributions	—		(10)
Actuarial (loss) gain (a)	(780)		10,260
Benefit payments	1,300		1,310

Settlements	90		—

Change in foreign currency	(740)		2,020
Projected benefit obligations at December 31 (b)	$	(27,470)	$	(25,560)
Changes in Plan Assets
Fair value of plan assets at January 1	$	25,470	$	38,130
Actual return on plan assets	1,540		(10,070)
Employer contributions	1,260		1,520
Participant contributions	—		10
Benefit payments	(1,300)		(1,310)

Settlements	(90)		—
Change in foreign currency	920		(2,810)
Fair value of plan assets at December 31 (c)	$	27,800	$	25,470
Funded status at December 31	$	330	$	(90)

__________________________

Schedule of Amounts Recognized in Balance Sheet


	Pension Benefit
	2023		2022
Amounts Recognized in Balance Sheet
Other assets	$	4,680	$	4,860
Current liabilities	(310)		(310)
Noncurrent liabilities	(4,040)		(4,640)
Net asset (liability) recognized at December 31	$	330	$	(90)

Schedule of Accumulated Other Comprehensive Income


	Pension Benefit
	2023		2022
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost	$	20	$	160
Unrecognized net loss	7,740		7,370
Total accumulated other comprehensive loss recognized at December 31	$	7,760	$	7,530

Changes in AOCI by component for the year ended December 31, 2023 are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)
Net unrealized gains (losses) arising during the period (a)	(1,040)		(2,060)		11,680		8,580
Less: Net realized losses reclassified to net income (b)	(690)		—		—		(690)
Net current-period other comprehensive income (loss)	(350)		(2,060)		11,680		9,270

Balance, December 31, 2023	$	(5,730)	$	13,260	$	(6,880)	$	650

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

Changes in AOCI by component for the year ended December 31, 2022, are summarized as follows, net of tax (dollars in thousands):


	Defined Benefit Plans		Derivative Instruments		Foreign Currency Translation		Total
Balance, December 31, 2021	$	(4,830)	$	5,910	$	(850)	$	230
Net unrealized gains (losses) arising during the period (a)	(1,070)		9,410		(17,710)		(9,370)
Less: Net realized losses reclassified to net income (b)	(520)		—		—		(520)
Net current-period other comprehensive income (loss)	(550)		9,410		(17,710)		(8,850)

Balance, December 31, 2022	$	(5,380)	$	15,320	$	(18,560)	$	(8,620)

__________________________

(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

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


	Accumulated Benefit Obligations				Projected Benefit Obligations
	2023		2022		2023		2022
Benefit Obligations at December 31,
Total benefit obligations	$	(27,260)	$	(25,400)	$	(27,470)	$	(25,560)
Plans with benefit obligations exceeding plan assets
Benefit obligations	$	(13,590)	$	(13,000)	$	(13,800)	$	(13,170)
Plan assets	$	9,450	$	8,220	$	9,450	$	8,220

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, 2023 Benefit Obligation		2023 Expense
Discount rate
25 basis point increase	$	(830)	$	(30)
25 basis point decrease	$	870	$	30
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, 2023 and 2022 and target allocations by class, were as follows:


	Domestic Pension						Foreign Pension
			Actual						Actual
	Target		2023		2022		Target		2023		2022
Equity securities	60	%	60	%	60	%	—	%	—	%	14	%
Fixed income	36	%	38	%	37	%	100	%	99	%	66	%
Diversified growth(a)	—	%	—	%	—	%	—	%	—	%	19	%

Cash and other	4	%	2	%	3	%	—		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.

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	$	5,720	$	5,720	$	—	$	—

Cash and cash equivalents	200		200		—		—
Plan assets measured at net asset value(a)
Investment funds

Fixed income	21,710


Cash and cash equivalents	170

Total	$	27,800	$	5,920	$	—	$	—

________________________________________

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):


Year ended December 31,	Pension Benefit
2024	$	1,310
2025	1,370
2026	1,410
2027	1,480
2028	1,560
Years 2029-2033	9,270

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount	$ 138,600
Other income (expense), net
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ (1,880)	$ 1,540	$ 7,130

Commitments and Contingencies - Asbestos Damages Sought (Details) - Asbestos [Member] $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) claimants
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	33
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
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	4
Pending Litigation [Member] \| Compensatory Only Damages [Member] \| Range 3 [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	29
Pending Litigation [Member] \| Punitive Only Damages [Member]
Loss Contingencies [Line Items]
Number of pending claims seeking specific amounts of damages \| claimants	0

Subsequent Events (Notes)	12 Months Ended
Subsequent Events (Notes)	Dec. 31, 2023
Subsequent Event [Line Items]
Subsequent Events [Text Block]	Subsequent Events On February 20, 2024, the Company announced that its Board of Directors had declared a cash dividend of $0.04 per share of TriMas Corporation common stock, which will be payable on March 8, 2024, to shareholders of record as of the close of business on March 1, 2024.

SEC Schedule, Article 12-09, Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Credit Loss - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 4,180	$ 1,730	$ 1,570	$ 2,120
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	3,320	1,480	830
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	360	80	190
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	$ 1,230	$ 1,400	$ 1,570

Earnings per Share Earnings per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares—basic	41,439,027	42,249,244	43,006,922
Weighted average common shares—diluted	41,685,348	42,478,015	43,281,076
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	246,321	228,771	261,858
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	0	12,296

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

As of December 31, 2023 and 2022, 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, 2023

December 31, 2022

Net Investment Hedges

Cross-currency swaps

Accrued liabilities

(6,510)

—

Cross-currency swaps

Other long-term liabilities

—

(7,090)

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

The following table summarizes the income recognized in AOCI on derivative contracts designated as hedging instruments as of December 31, 2023 and 2022, and the amounts reclassified from AOCI into earnings for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands):


	Amount of Income Recognized in AOCI on Derivative (net of tax)				Location of Loss Reclassified from AOCI into Earnings	Amount of Loss Reclassified from AOCI into Earnings
	As of December 31,					Year ended December 31,
	2023		2022			2023		2022		2021

Net Investment Hedges
Cross-currency swaps	$	13,260	$	15,320	Other income (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 income (dollars in thousands):


		Amount of Income (Loss) Recognized in Earnings on Derivatives
		Year ended December 31,
	Location of Income (Loss) Recognized in Earnings on Derivatives	2023		2022		2021
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other income (expense), net	$	(1,880)	$	1,540	$	7,130

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, 2023 and 2022 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, 2023
Cross-currency swaps	Recurring	$	(6,510)	$	—	$	(6,510)	$	—
Foreign exchange contracts	Recurring	$	(140)	$	—	$	(140)	$	—
December 31, 2022
Cross-currency swaps	Recurring	$	(7,090)	$	—	$	(7,090)	$	—
Foreign exchange contracts	Recurring	$	(1,790)	$	—	$	(1,790)	$	—

Earnings per Share Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023	2022	2021
Weighted average common shares—basic	41,439,027	42,249,244	43,006,922
Dilutive effect of restricted stock units	246,321	228,771	261,858
Dilutive effect of stock options	—	—	12,296
Weighted average common shares—diluted	41,685,348	42,478,015	43,281,076

Equity Awards - Equity Awards Narrative (Details)	Dec. 31, 2023 shares
2017 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Approved for Issuance	2,151,359
Director Retainer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Approved for Issuance	100,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Subparagraph (a)(2)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Subparagraph (c)(1)(iv)(02)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 are as follows (dollars in thousands):


					Specialty
	Packaging		Aerospace		Products		Total
Balance, December 31, 2021	$	238,740	$	70,190	$	6,560	$	315,490
Goodwill from acquisitions	32,370		—		—		32,370


Foreign currency translation and other	(7,560)		(490)		—		(8,050)
Balance, December 31, 2022	$	263,550	$	69,700	$	6,560	$	339,810
Goodwill from acquisitions	20,420		—		—		20,420


Foreign currency translation and other	3,380		160		—		3,540
Balance, December 31, 2023	$	287,350	$	69,860	$	6,560	$	363,770

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, 2023 and 2022 are summarized below (dollars in thousands):


	As of December 31, 2023				As of December 31, 2022
Intangible Category by Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships, 5 - 12 years	$	141,260	$	(89,020)	$	131,660	$	(80,000)
Customer relationships, 15 - 25 years	129,830		(80,600)		129,650		(74,380)
Total customer relationships	271,090		(169,620)		261,310		(154,380)
Technology and other, 1 - 15 years	56,970		(41,850)		56,860		(38,990)
Technology and other, 17 - 30 years	43,300		(40,730)		43,300		(40,330)
Total technology and other	100,270		(82,580)		100,160		(79,320)
Indefinite-lived intangible assets:
Trademark/Trade names	61,860		—		60,340		—
Total other intangible assets	$	433,220	$	(252,200)	$	421,810	$	(233,700)

Schedule of Finite-Lived Intangible Assets, Amortization Expense

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


	Year ended December 31,
	2023		2022		2021
Technology and other, included in cost of sales	$	3,210	$	3,300	$	3,820
Customer relationships, included in selling, general and administrative expenses	14,970		15,800		17,740
Total amortization expense	$	18,180	$	19,100	$	21,560

Schedule of Expected Amortization Expense [Table Text Block]

Estimated amortization expense for the next five fiscal years beginning after December 31, 2023 is as follows (dollars in thousands):


Year ended December 31,	Estimated Amortization Expense
2024		$	17,220
2025		16,870
2026		15,140
2027		15,080
2028		15,060

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment activity is as follows (dollars in thousands):


	Year ended December 31,
	2023		2022		2021
Net Sales
Packaging	$	463,600	$	522,180	$	533,260
Aerospace	241,400		188,090		183,340
Specialty Products	188,550		173,560		140,510
Total	$	893,550	$	883,830	$	857,110
Operating Profit (Loss)
Packaging	$	60,140	$	81,000	$	96,490
Aerospace (a)	15,520		8,060		13,270
Specialty Products	36,400		30,250		22,550
Corporate (b) (c)	(46,620)		(20,250)		(37,220)
Total	$	65,440	$	99,060	$	95,090
Capital Expenditures
Packaging	$	29,060	$	33,170	$	34,080
Aerospace	14,620		6,900		5,390
Specialty Products	10,410		5,860		5,500
Corporate (c)	100		30		90
Total	$	54,190	$	45,960	$	45,060
Depreciation and Amortization
Packaging	$	34,170	$	29,340	$	30,500
Aerospace	19,160		19,620		18,700
Specialty Products	4,130		4,130		4,120
Corporate (c)	130		130		130
Total	$	57,590	$	53,220	$	53,450
Total Assets
Packaging	$	830,620	$	776,550	$	739,920
Aerospace	390,910		347,720		353,800
Specialty Products	92,770		86,290		73,260
Corporate (c)	27,360		94,440		136,660


Total	$	1,341,660	$	1,305,000	$	1,303,640

__________________________

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

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, by geographical area (dollars in thousands).


	As of December 31,
	2023				2022				2021
	Net Sales		Long-lived Assets		Net Sales		Long-lived Assets		Net Sales		Long-lived Assets
Non-U.S.
Europe	$	153,120	$	238,640	$	139,780	$	192,600	$	160,650	$	209,380
Asia Pacific	34,240		27,000		35,260		29,720		41,310		37,080
Other Americas	24,950		45,120		18,040		41,840		15,290		42,000
Total non-U.S.	212,310		310,760		193,080		264,160		217,250		288,460

Total U.S.	681,240		564,020		690,750		541,510		639,860		489,390
Total	$	893,550	$	874,780	$	883,830	$	805,670	$	857,110	$	777,850

Goodwill and Other Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Balance, beginning	$ 339,810	$ 315,490
Goodwill, Acquired During Period	20,420	32,370
Foreign currency translation	3,540	(8,050)
Balance, ending	363,770	339,810
Packaging [Member]
Goodwill [Roll Forward]
Balance, beginning	263,550	238,740
Goodwill, Acquired During Period	20,420	32,370
Foreign currency translation	3,380	(7,560)
Balance, ending	287,350	263,550
Aerospace [Member]
Goodwill [Roll Forward]
Balance, beginning	69,700	70,190
Goodwill, Acquired During Period	0	0
Foreign currency translation	160	(490)
Balance, ending	69,860	69,700
Specialty Products [Member]
Goodwill [Roll Forward]
Balance, beginning	6,560	6,560
Goodwill, Acquired During Period	0	0
Foreign currency translation	0	0
Balance, ending	$ 6,560	$ 6,560

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Property and Equipment, Net (Notes)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

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


	December 31, 2023		December 31, 2022
Land and land improvements	$	32,840	$	15,220
Building and building improvements	99,230		90,910
Machinery and equipment	502,090		461,480
	634,160		567,610
Less: Accumulated depreciation	304,170		289,860
Property and equipment, net	$	329,990	$	277,750

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


	Year ended December 31,
	2023		2022		2021
Depreciation expense, included in cost of sales	$	38,520	$	33,130	$	30,770
Depreciation expense, included in selling, general and administrative expense	890		990		1,120
Total depreciation expense	$	39,410	$	34,120	$	31,890

SEC Schedule, Article 12-09, Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure

SCHEDULE II

PURSUANT TO ITEM 15(a)(2)

OF FORM 10-K VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED

December 31, 2023, 2022 AND 2021


			ADDITIONS
DESCRIPTION	BALANCE AT BEGINNING OF PERIOD		CHARGED TO COSTS AND EXPENSES		CHARGED (CREDITED) TO OTHER ACCOUNTS		DEDUCTIONS(A)		BALANCE AT END OF PERIOD
Allowance for doubtful accounts deducted from accounts receivable in the balance sheet
Year ended December 31, 2023	$	1,730,000	$	3,320,000	$	360,000	$	1,230,000	$	4,180,000
Year ended December 31, 2022	$	1,570,000	$	1,480,000	$	80,000	$	1,400,000	$	1,730,000
Year ended December 31, 2021	$	2,120,000	$	830,000	$	190,000	$	1,570,000	$	1,570,000

________________________________________

(A)Deductions, representing uncollectible accounts written-off, less recoveries of amounts reserved in prior years.

Realignment Actions (Details) - USD ($) $ in Thousands	12 Months Ended
Realignment Actions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Realignment Actions [Line Items]
(Gain) loss on dispositions of assets	$ 180	$ (21,950)	$ 130
Realignment Actions [Member]
Realignment Actions [Line Items]
Inventory Write-down	800
Severance Costs			6,200
Cash paid for severance			2,400
Realignment costs	10,300	5,000	9,700
Facility consolidation realignment costs	5,200	2,700	3,500
Employee-related costs	2,100	2,300
Restructuring and Related Cost, Accelerated Depreciation	2,200
Cost of Sales [Member] \| Realignment Actions [Member]
Realignment Actions [Line Items]
Realignment costs	9,400	2,800	4,100
Selling, General and Administrative Expenses [Member] \| Realignment Actions [Member]
Realignment Actions [Line Items]
Realignment costs	$ 900	2,000	$ 5,600
Net gain (loss) on disposition of asset \| Realignment Actions [Member]
Realignment Actions [Line Items]
Realignment costs		$ 200

Leases Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Leases [Abstract]

Operating lease right-of-use assets

$ 43,220

$ 47,280

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property and equipment, net

Finance Lease, Right-of-Use Asset, after Accumulated Amortization

$ 2,470

^[1]

$ 0

Lease right of use assets

45,690

47,280

Operating lease liabilities, current portion

7,410

8,280

Finance Lease, Liability, Current

490

Operating lease liabilities

37,980

41,010

Finance Lease, Liability, Noncurrent

1,710

Lease liabilities

47,590

$ 49,290

Finance Lease, Right-of-Use Asset, Accumulated Amortization

$ 200

Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Lease liabilities, current portion

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Lease liabilities, current portion

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Lease liabilities

Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Lease liabilities

[1]	Finance leases were recorded net of accumulated depreciation of $0.2 million as of December 31, 2023.

Revenue (Notes)

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
Consumer Products	$	381,930	$	419,410	$	424,320
Aerospace & Defense	241,400		188,090		183,340
Industrial	270,220		276,330		249,450

Total net sales	$	893,550	$	883,830	$	857,110

The Company’s Packaging segment earns revenues from the consumer products (comprised of the beauty and personal care, food and beverage, home care, pharmaceutical, nutraceutical and medical 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Long-term Debt - Long-term Debt Maturities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Long-term Debt, Fiscal Year Maturity
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 0
Long-term Debt, Maturities, Repayments of Principal in Year Two	0
Long-term Debt, Maturities, Repayments of Principal in Year Three	0
Long-term Debt, Maturities, Repayments of Principal in Year Four	0
Long-term Debt, Maturities, Repayments of Principal in Year Five	0
Long-term Debt, Maturities, Repayments of Principal after Year Five (Thereafter)	400,000
Long-term Debt	$ 400,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Equity Awards (Notes)

12 Months Ended

Dec. 31, 2023

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 2023 Equity and Incentive Compensation Plan						2,151,359
TriMas Corporation Director Retainer Share Election Program						100,000

The Company previously maintained the TriMas Corporation 2017 Equity and Incentive Compensation Plan, which was replaced by the TriMas Corporation 2023 Equity and Incentive Compensation Plan in 2023 such that, while existing grants remain outstanding until exercised, vested or canceled, no new shares may be issued under this plan.

The Company awarded the following restricted stock units ("RSUs") during 2023, 2022, and 2021:

•Granted 275,515, 209,617, and 131,198, 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 27,560, 22,554 and 21,112 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;

•Issued 3,317, 337 and 1,792 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; and

•Issued 174, 260 and 49 RSUs, respectively, to certain employees related to dividend equivalent rights on existing equity awards.

The Company awarded the following RSUs during 2023:

•Granted 8,912 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.

During 2023, the Company also awarded 95,017 performance-based RSUs to certain Company key employees which vest three years from the grant date as long as the employee remains with the Company. These awards are initially earned 50% based upon the Company's achievement of an earnings per share compound annual growth rate ("EPS CAGR") metric and 50% based upon the Company's cash return on net assets ("Cash RONA") metric over a period beginning January 1, 2023, and ending December 31, 2025. The total EPS CAGR and Cash RONA performance-based RSUs initially earned shall be subject to modification 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 4.36% and annualized volatility of 33.9%. 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 250% of the target.

During 2022, the Company awarded 85,156 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 EPS CAGR metric over a period beginning January 1, 2022, and ending December 31, 2024. The remaining 50% of the awards are earned based on the Company's 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 1.88% and annualized volatility of 36.5%. 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 72,962 of similar performance-based RSUs in 2021. For similar performance-based RSUs awarded in 2019 and 2020, the Company attained 65.4% and 62.7%, respectively, of the target on a weighted average basis, resulting in a decrease of 24,975 and 32,430 shares during 2022 and 2023, respectively.

During 2020, the Company awarded performance-based RSUs to certain Company key employees which were earned based upon the Company's stock price performance over the period beginning January 1, 2020, and ending December 31, 2022. The stock price achievement was 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 did not meet the minimum performance threshold resulting in a decrease of 86,275 shares during 2023.

Information related to restricted shares as of and for the year ended December 31, 2023 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, 2023	719,449	$	28.40
Granted	410,495	29.23
Vested	(252,054)	27.79
Cancelled	(186,054)	21.52
Outstanding at December 31, 2023	691,836	$	30.97	1.1	$	17,524,206

As of December 31, 2023, there was $4.7 million of unrecognized compensation cost related to unvested restricted shares that is expected to be recorded over a weighted average period of 2.0 years.

The Company recognized stock-based compensation expense related to restricted shares of $9.7 million, $9.8 million and $9.5 million in 2023, 2022 and 2021, respectively. The stock-based compensation expense is included in selling, general and administrative expenses in the accompanying consolidated statement of income.

Goodwill and Other Intangible Assets - Goodwill Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 363,770	$ 339,810	$ 315,490
Aerospace [Member]
Goodwill [Line Items]
Goodwill	$ 69,860	$ 69,700	$ 70,190

- Definition

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Equity Awards - Restricted Shares Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	410,495
Unrecognized Compensation Cost	$ 4.7
Period for Recognition of Share-based Compensation Cost Not yet Recognized	2 years
Restricted shares-based compensation expense	$ 9.7	$ 9.8	$ 9.5
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	3,317	337	1,792
Service-based restriced shares [Member] \| Dividend Declared
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Restricted Shares Granted	174	260	49
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	275,515	209,617	131,198
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	27,560	22,554	21,112
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		85,156
Award requisite service period		3 years
Risk-Free Interest Rate		1.88%
Expected Volatility		36.50%
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	95,017
Award requisite service period	3 years
Risk-Free Interest Rate	4.36%
Expected Volatility	33.90%
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			72,962
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	8,912
Award requisite service period	3 years
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] \| Minimum [Member] \| Plan 4 [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%
3 year EPS CAGR metric [Member] \| Maximum [Member] \| Plan 4 [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	250.00%
Total shareholder return metric [Member] \| Plan 5 [Member] \| Performance-based restriced shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease)	86,275
Total shareholder return metric [Member] \| 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	32,430	24,975
Share-based Compensation Arrangement by Share-based Payment Award, Award percentage attained	62.70%	65.40%
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%
3 year EPS RONA metric \| Maximum [Member] \| Plan 4 [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%

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

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


	December 31, 2023		December 31, 2022
Accrued payroll	$	15,990	$	18,050
High deductible insurance	6,250		5,530
Derivatives liability	6,510		—
Other	30,890		23,080
Total accrued liabilities	$	59,640	$	46,660

Employee Benefit Plans Amounts Recognized on Balance Sheet Table (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Assets for Plan Benefits, Defined Benefit Plan	$ 4,680	$ 4,860
Defined Benefit Plan, Amounts Recognized in Balance Sheet
Current liabilities	(310)	(310)
Noncurrent liabilities	(4,040)	(4,640)
Net asset (liability) recognized at December 31	$ 330	$ (90)

- Definition

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

+ References + Details

Income Taxes Income Tax by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ 20,660	$ 56,750	$ 28,380
Income (Loss) from Continuing Operations before Income Taxes, Foreign	29,930	30,920	40,730
Income (loss) before income taxes	50,590	87,670	69,110
Current Federal Tax Expense (Benefit)	2,740	13,300	940
Current State and Local Tax Expense (Benefit)	670	3,470	530
Current Foreign Tax Expense (Benefit)	8,690	6,170	8,840
Current Income Tax Expense (Benefit)	12,100	22,940	10,310
Deferred Federal Income Tax Expense (Benefit)	1,800	(1,780)	5,450
Deferred State and Local Income Tax Expense (Benefit)	150	50	670
Deferred Foreign Income Tax Expense (Benefit)	(3,820)	290	(4,630)
Deferred Income Tax Expense (Benefit)	(1,870)	(1,440)	1,490
Income Tax Expense (Benefit), Continuing Operations	$ 10,230	$ 21,500	$ 11,800

Equity Awards (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

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


Plan Names						Shares Approved for Issuance
TriMas Corporation 2023 Equity and Incentive Compensation Plan						2,151,359
TriMas Corporation Director Retainer Share Election Program						100,000

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

Information related to restricted shares as of and for the year ended December 31, 2023 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, 2023	719,449	$	28.40
Granted	410,495	29.23
Vested	(252,054)	27.79
Cancelled	(186,054)	21.52
Outstanding at December 31, 2023	691,836	$	30.97	1.1	$	17,524,206

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

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


	December 31, 2023		December 31, 2022
4.125% Senior Notes due April 2029	$	400,000	$	400,000



Debt issuance costs	(4,340)		(5,270)


Long-term debt, net	$	395,660	$	394,730

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


	December 31, 2023				December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
4.125% Senior Notes due April 2029	$	400,000	$	364,000	$	400,000	$	344,000

Debt Instrument Redemption

On or after April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the twelve-month period beginning on April 15 of the years indicated below:


Year	Percentage
2024	102.063	%
2025	101.031	%
2026 and thereafter	100.000	%

Schedule of Maturities of Long-term Debt

Future maturities of the face value of long-term debt at December 31, 2023 are as follows (dollars in thousands):


Year Ending December 31:	Future Maturities
2024	$	—
2025	—
2026	—
2027	—
2028	—
Thereafter	400,000
Total	$	400,000

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

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

Balance, at beginning of year

$ (8,620)

$ 230

Net unrealized gains (losses) arising during the period

8,580

(9,370)

Less: Net realized gains reclassified to net income

(690)

(520)

Total other comprehensive income (loss)

9,270

(8,850)

$ 5,850

Balance, at end of year

650

(8,620)

230

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

(400)

300

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

200

Cross Currency Interest Rate Contract [Member]

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

Other Comprehensive Income (Loss), Tax

700

3,200

Defined Benefit Plans

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

Balance, at beginning of year

(5,380)

(4,830)

Net unrealized gains (losses) arising during the period

(1,040)

^[1]

(1,070)

^[2]

Less: Net realized gains reclassified to net income

(690)

^[3]

(520)

^[4]

Total other comprehensive income (loss)

(350)

(550)

Balance, at end of year

(5,730)

(5,380)

(4,830)

Derivative Instruments

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

Balance, at beginning of year

15,320

5,910

Net unrealized gains (losses) arising during the period

(2,060)

^[1]

9,410

^[2]

Less: Net realized gains reclassified to net income

Total other comprehensive income (loss)

(2,060)

9,410

Balance, at end of year

13,260

15,320

5,910

Foreign Currency Translation

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

Balance, at beginning of year

(18,560)

(850)

Net unrealized gains (losses) arising during the period

11,680

(17,710)

Less: Net realized gains reclassified to net income

Total other comprehensive income (loss)

11,680

(17,710)

Balance, at end of year

(6,880)

(18,560)

(850)

Accumulated Other Comprehensive Income (Loss) [Member]

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

Total other comprehensive income (loss)

$ 9,270

$ (8,850)

$ 5,850

[1]	Defined benefit plans, net of income tax of $0.4 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $0.7 million. See Note 12, "Derivative Instruments," for further details.
[2]	Defined benefit plans, net of income tax of $0.3 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $3.2 million. See Note 12, "Derivative Instruments," for further details.
[3]	Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details
[4]	Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.

Long-term Debt - Debt Issuance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt issuance costs	$ (4,340)	$ (5,270)
Amortization of Debt Issuance Costs	$ 930	$ 910	$ 960

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Payments	$ 10,250	$ 9,900	$ 7,880
Finance Lease, Interest Payment on Liability	60	0	0
Finance Lease, Principal Payments	450	0	0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	8,340	5,790	19,600
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 2,620	$ 0	$ 0
Operating Lease, Weighted Average Remaining Lease Term	6 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.00%
Finance Lease, Weighted Average Discount Rate, Percent	2.60%
Finance Lease, Weighted Average Remaining Lease Term	3 years 6 months

Segment Information Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Export Sales from the United States of America	$ 72.2	$ 74.5	$ 80.6

Property and Equipment, Net - Property and Equipment Table (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 634,160	$ 567,610
Less: Accumulated depreciation	304,170	289,860
Property and equipment, net	329,990	277,750
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	32,840	15,220
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	99,230	90,910
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 502,090	$ 461,480

Acquisitions (Notes)	12 Months Ended
Acquisitions (Notes)	Dec. 31, 2023
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions 2023 Acquisitions On April 21, 2023, the Company acquired Weldmac Manufacturing Company ("Weldmac") for a purchase price of $34.0 million, with additional contingent consideration ranging from zero to $10 million based on achievement of earnings targets, as defined in the purchase agreement. The fair value of assets acquired and liabilities assumed included $23.7 million of property and equipment, $20.3 million of net working capital and $10 million of contingent consideration liability, with such estimate representing the Company's best estimate of fair value of contingent consideration based on Level 3 inputs under the fair value hierarchy, as defined. Located in El Cajon, California, and reported in the Company's Aerospace segment, Weldmac is a designer and manufacturer of complex metal fabricated components and assemblies for the aerospace, defense and space launch end markets and historically generated $33 million in annual revenue. On July 10, 2023, the Company made a cash payment of $5.5 million as additional consideration for the purchase of Weldmac based on achievement of earnings targets, as defined in the purchase agreement. The remaining possible contingent consideration ranges from zero to $4.5 million, based on achievement of 2023 earnings targets, as defined in the purchase agreement. At December 31, 2023, the Company believes it is probable the maximum contingent consideration will be earned. On February 1, 2023, the Company acquired Aarts Packaging B.V. ("Aarts"), a luxury packaging solutions provider for beauty and lifestyle brands, as well as for customers in the food and life sciences end markets, for a purchase price of $37.8 million, net of cash acquired. The fair value of assets acquired and liabilities assumed included $20.4 million of goodwill, $10.9 million of intangible assets, $8.5 million of property and equipment, $7.4 million of net working capital, $3.9 million of net deferred tax liabilities and $5.5 million of other liabilities. Aarts, which is reported in the Company's Packaging segment, is located in Waalwijk, the Netherlands, and historically generated €23 million in annual revenue. 2022 Acquisitions On February 28, 2022, the Company acquired Intertech Plastics LLC and related companies (collectively, "Intertech") for a purchase price of $64.1 million, net of cash acquired. Intertech is a manufacturer of custom injection molded products used in medical applications, as well as products and assemblies for consumer and industrial applications. The fair value of assets acquired and liabilities assumed included $32.4 million of goodwill, $13.5 million of intangible assets, $12.2 million of property and equipment and $6.0 million of net working capital. Intertech, which is reported in the Company's Packaging segment, has two manufacturing facilities located in the Denver, Colorado, area. 2021 Acquisitions On December 17, 2021, the Company acquired Omega Plastics ("Omega"), which specializes in manufacturing custom components and devices for drug delivery, diagnostic and orthopedic medical applications, as well as components for industrial applications, for an aggregate amount of $22.5 million, net of cash acquired. Omega, which is reported in the Company's Packaging segment, is located in Clinton Township, Michigan. On December 5, 2021, the Company acquired TFI Aerospace ("TFI"), a manufacturer and supplier of specialty fasteners used in a variety of applications, predominately for the aerospace end market, for an aggregate amount of $11.8 million, with additional contingent consideration ranging from zero to $12.0 million to be paid based future earnings as defined in the purchase agreement. On the acquisition date, the Company recorded $3.7 million as its best estimate of fair value of the additional contingent consideration, with such estimate based on Level 3 inputs under the fair value hierarchy, as defined. TFI, which is reported in the Company's Aerospace segment, is located near Toronto, Canada. Based on a detailed fourth quarter 2022 review of TFI's updated forecasted operating results, the Company determined the likelihood of the contingent consideration being paid was remote, and therefore reversed the liability, with such adjustment being included in other income (expense), net, in the accompanying consolidated statement of income.

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, 2023 USD ($)
Effect of Twenty-Five Basis Point Change in Discount Rate
Effect of Twenty-Five Basis Point Increase in Discount Rate on Benefit Obligation	$ (830)
Effect of Twenty-Five Basis Point Decrease in Discount Rate on Benefit Obligation	870
Effect of Twenty-Five Basis Point Increase in Discount Rate on Expense	(30)
Effect of Twenty-Five Basis Point Decrease in Discount Rate on Expense	30
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 Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined Contribution Plan, Cost	$ 4.6	$ 3.7	$ 3.4

Derivative Instruments (Notes)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivatives Designated as Hedging Instruments

The Company uses cross-currency swap agreements 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 Company designates its cross-currency swaps as net investment hedges.

In July 2022, the Company entered into cross-currency swap agreements at notional amounts declining from $150.0 million to $75.0 million over contract periods ending on October 15, 2023, and April 15, 2024. Under the terms of the agreements, the Company is to receive net interest payments at fixed rates of approximately 2.4% to 2.6% of the notional amounts. As of December 31, 2023, the notional amount of these cross-currency swaps was $75.0 million.

In July 2022, immediately prior to entering into the new cross-currency swap agreements, the Company terminated its existing cross-currency swap agreements, de-designated the swaps as net investment hedges and received $26.2 million of cash, which was classified as an investing activity in the accompanying consolidated statement of cash flows. The cross-currency swap agreements had notional amounts totaling $250.0 million, which declined to $25.0 million over various contract periods ending between October 15, 2023 and October 15, 2027. Under the terms of the agreements, the Company was to receive net interest payments at fixed rates ranging from approximately 0.8% to 2.9% of the notional amounts.

As of December 31, 2023 and 2022, 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, 2023

December 31, 2022

Net Investment Hedges

Cross-currency swaps

Accrued liabilities

(6,510)

—

Cross-currency swaps

Other long-term liabilities

—

(7,090)


	Amount of Income Recognized in AOCI on Derivative (net of tax)				Location of Loss Reclassified from AOCI into Earnings	Amount of Loss Reclassified from AOCI into Earnings
	As of December 31,					Year ended December 31,
	2023		2022			2023		2022		2021

Net Investment Hedges
Cross-currency swaps	$	13,260	$	15,320	Other income (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, 2023, the Company was party to foreign currency exchange forward contracts to economically hedge changes in foreign currency rates with notional amounts of $138.6 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, Canadian dollar, Chinese yuan, and the Mexican peso, as well as between the Euro and British pound, and have various settlement dates through March 2024. These contracts are not designated as hedge instruments; therefore, gains and losses on these contracts are recognized each period directly into the consolidated statement of income.

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


		Amount of Income (Loss) Recognized in Earnings on Derivatives
		Year ended December 31,
	Location of Income (Loss) Recognized in Earnings on Derivatives	2023		2022		2021
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other income (expense), net	$	(1,880)	$	1,540	$	7,130

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 and foreign exchange contracts 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, 2023 and 2022 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, 2023
Cross-currency swaps	Recurring	$	(6,510)	$	—	$	(6,510)	$	—
Foreign exchange contracts	Recurring	$	(140)	$	—	$	(140)	$	—
December 31, 2022
Cross-currency swaps	Recurring	$	(7,090)	$	—	$	(7,090)	$	—
Foreign exchange contracts	Recurring	$	(1,790)	$	—	$	(1,790)	$	—

Subsequent Events - Dividends Declared (Details) - Subsequent Event [Member]	Feb. 20, 2024 $ / shares
Subsequent Event [Line Items]
Dividends Payable, Date Declared	Feb. 20, 2024
Dividends Payable, Amount Per Share	$ 0.04
Dividends Payable, Date to be Paid	Mar. 08, 2024
Dividends Payable, Date of Record	Mar. 01, 2024

Employee Benefit Plans Future Benefit Payments Table (Details) - Pension Plans, Defined Benefit [Member] $ in Thousands	Dec. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected Future Benefit Payments, Next Twelve Months	$ 1,310
Expected Future Benefit Payments, Year Two	1,370
Expected Future Benefit Payments, Year Three	1,410
Expected Future Benefit Payments, Year Four	1,480
Expected Future Benefit Payments, Year Five	1,560
Expected Future Benefit Payments, Five Fiscal Years Thereafter	$ 9,270

Other Long-term Liabilities (Notes)

12 Months Ended

Dec. 31, 2023

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, 2023		December 31, 2022
Non-current asbestos-related liabilities	$	23,880	$	26,370
Other long-term liabilities	16,740		29,970
Total other long-term liabilities	$	40,620	$	56,340

Employee Benefit Plans Assumptions Used for U.S Defined Benefit Plans Table (Details) - United States	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate for obligations	5.05%	5.24%	3.06%
Discount rate for benefit costs	5.24%	3.06%	2.79%
Expected long-term rate of return on plan assets	6.13%	6.13%	6.13%

Long-term Debt - Other Revolving Loan Facility (Details) - Revolving Credit Facility [Member] - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300.0
Non-US [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	4.0
Revolving Credit Facility, Amount Outstanding	$ 0.0	$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Derivative Instruments - Designated as hedging, Financial Performance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 650	$ (8,620)	$ 230
Designated as Hedging Instrument [Member]
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
Designated as Hedging Instrument [Member] \| Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income (loss)	13,260	15,320
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 0

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023	4,798	261	160	36	4,863	$	15,465	$	1,920,000
Fiscal year ended December 31, 2022	4,754	236	168	24	4,798	$	79,869	$	2,180,000
Fiscal year ended December 31, 2021	4,655	265	134	32	4,754	$	16,819	$	1,950,000

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

—

New Accounting Pronouncements (Notes)	12 Months Ended
New Accounting Pronouncements (Notes)	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires enhanced jurisdictional disclosures for income taxes paid and requires the use of specific categories in the effective tax rate reconciliation as well as additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is in the process of assessing the impact of adoption on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which requires disclosure of significant segment expenses and other segment items by reportable segment on an annual and interim basis, the title and position of chief operating decision maker ("CODM") and how the CODM uses reported measures in assessing segment performance, and also extends the requirement of annual disclosures currently required by Topic 280 to interim periods. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is in the process of assessing the impact of adoption on its consolidated financial statements.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
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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 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Summary of Significant Accounting Policies - Goodwill and Indefinite-Lived Intangibles (Details)	12 Months Ended
	Dec. 31, 2023 number
Annual Goodwill Impairment Assessment [Abstract]
Number of Reporting Units	6
Number of reporting units that have goodwill	4
Number of Reportable Segments	3

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
Consumer Products	$	381,930	$	419,410	$	424,320
Aerospace & Defense	241,400		188,090		183,340
Industrial	270,220		276,330		249,450

Total net sales	$	893,550	$	883,830	$	857,110

Goodwill and Other Intangible Assets - Intangibles Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Goodwill and Intangible Asset Impairment	$ 1,120	$ 0	$ 0

Income Taxes Operating Loss Carryforwards Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 25.4
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 60.5

Commitments and Contingencies - Asbestos Claimant and Settlement (Details) - Asbestos [Member]	12 Months Ended
	Dec. 31, 2023 USD ($) claimants	Dec. 31, 2022 USD ($) claimants	Dec. 31, 2021 USD ($) claimants	Dec. 31, 2020 claimants
Loss Contingencies [Line Items]
Number of pending claims filed during period	261	236	265
Number of pending claims dismissed during period	160	168	134
Number of pending claims settled during period	36	24	32
Number of pending claims	4,863	4,798	4,754	4,655
Average settlement amount per claim during period \| $	$ 15,465	$ 79,869	$ 16,819
Total defense costs during period \| $	$ 1,920,000	$ 2,180,000	$ 1,950,000

Long-term Debt (Notes)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term debt

Long-term Debt

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


	December 31, 2023		December 31, 2022
4.125% Senior Notes due April 2029	$	400,000	$	400,000



Debt issuance costs	(4,340)		(5,270)


Long-term debt, net	$	395,660	$	394,730

Senior Notes due 2029

In March 2021, the Company issued $400.0 million aggregate principal amount of 4.125% senior notes outstanding due April 15, 2029 ("2029 Senior Notes") at par value in a private placement under Rule 144A of the Securities Act of 1933, as amended ("Securities Act"). The Company used the proceeds from the 2029 Senior Notes offering to pay fees and expenses of $5.1 million related to the offering and pay fees and expenses of $1.1 million related to amending its existing credit agreement. In connection with the issuance, the Company completed the redemption of its outstanding 4.875% senior notes due October 15, 2025 ("2025 Senior Notes"), paying $300.0 million to retire the outstanding principal amount plus $7.3 million as a redemption premium. The remaining cash proceeds from the 2029 Senior Notes were used for general corporate purposes, including repaying all outstanding revolving credit facility borrowings. The $5.1 million of fees and expenses related to the 2029 Senior Notes were capitalized as debt issuance costs, while the $7.3 million redemption premium, as well as $3.0 million of unamortized debt issuance costs associated with the 2025 Senior Notes, were included in debt financing and related expenses in the accompanying consolidated statement of income.

The 2029 Senior Notes accrue interest at a rate of 4.125% 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. The 2029 Senior Notes are pari passu in right of payment with all existing and future senior indebtedness and effectively subordinated to all existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness.

Prior to April 15, 2024, the Company may redeem up to 40% of the principal amount of the 2029 Senior Notes at a redemption price of 104.125% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, with the net cash proceeds of one or more equity offerings provided that each such redemption occurs within 90 days of the date of closing of each such equity offering. In addition, prior to April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, plus a "make whole" premium. On or after April 15, 2024, the Company may redeem all or part of the 2029 Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the twelve-month period beginning on April 15 of the years indicated below:


Year	Percentage
2024	102.063	%
2025	101.031	%
2026 and thereafter	100.000	%

Senior Notes due 2025

In September 2017, the Company issued $300.0 million aggregate principal amount of its 2025 Senior Notes at par value in a private placement under Rule 144A of the Securities Act. During the second quarter of 2021, and in connection with the issuance of the 2029 Senior Notes, the Company redeemed all of the outstanding 2025 Senior Notes, as permitted under the indenture, at a price of 102.438% of the principal amount.

Credit Agreement

In March 2021, the Company amended its existing credit agreement ("Credit Agreement") in connection with the issuance of the 2029 Senior Notes to extend the maturity date. The Company incurred fees and expenses of $1.1 million related to the amendment, all of which was capitalized as debt issuance costs. The Company also recorded $0.2 million of non-cash expense related to the write-off of previously capitalized deferred financing fees. The Credit Agreement consists 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 March 29, 2026.

In November 2021 and April 2023, the Company amended the Credit Agreement to replace LIBOR. As of December 31, 2023, the Credit Agreement is subject to benchmark interest rates that are based on the currency denomination of borrowings, with British pound sterling borrowings subject to the Sterling Overnight Index Average and Euro borrowings subject to the Euro InterBank Offered Rate, both plus a spread of 1.625%, and U.S. dollar borrowings subject to the Secured Overnight Financing Rate plus a spread of 1.725%. 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. At December 31, 2023, the Company had no amounts outstanding under its revolving credit facility and had $294.0 million potentially available after giving effect to $6.0 million of letters of credit issued and outstanding. At December 31, 2022, the Company had no amounts outstanding under its revolving credit facility and had $293.9 million potentially available after giving effect to $6.1 million of letters of credit issued and outstanding. After consideration of leverage restrictions contained in the Credit Agreement, as of December 31, 2023, the Company had $256.9 million of borrowing capacity available for general corporate purposes. The Company's borrowing capacity was not reduced by leverage restrictions contained in the Credit Agreement as of December 31, 2022.

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, 2023, the Company was in compliance with the financial covenants contained in the Credit Agreement.

Other Revolving Loan Facility

In May 2021, the Company, through one of its non-U.S. subsidiaries, entered into a revolving loan facility with a borrowing capacity of $4 million. The facility is guaranteed by TriMas Corporation. There were no borrowings outstanding on this loan facility as of December 31, 2023 or 2022.

Long-term Debt Maturities

Future maturities of the face value of long-term debt at December 31, 2023 are as follows (dollars in thousands):


Year Ending December 31:	Future Maturities
2024	$	—
2025	—
2026	—
2027	—
2028	—
Thereafter	400,000
Total	$	400,000

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, 2023				December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
4.125% Senior Notes due April 2029	$	400,000	$	364,000	$	400,000	$	344,000

Debt Issuance Costs

The Company's unamortized debt issuance costs approximated $4.3 million and $5.3 million at December 31, 2023 and 2022, 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 $0.9 million, $0.9 million and $1.0 million in 2023, 2022 and 2021, respectively, and is included in interest expense in the accompanying consolidated statement of income.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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+ Details

Income Taxes Components of Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Components of Deferred Tax Assets
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	$ 1,770	$ 1,290
Deferred Tax Assets, Inventory	7,260	5,640
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other	16,780	14,580
Deferred Tax Assets, Operating lease liability	10,690	12,670
Deferred Tax Assets, Research And Experimentation	6,530	4,130
Deferred Tax Assets, Operating Loss and Credit Carryforwards	28,880	27,310
Deferred Tax Assets, Other	(470)	110
Deferred Tax Assets, Gross	71,440	65,730
Deferred Tax Assets, Valuation Allowance	(15,960)	(17,180)
Deferred Tax Assets, Net of Valuation Allowance	55,480	48,550
Components of Deferred Tax Liabilities
Deferred Tax Liabilities, Property, Plant and Equipment	(30,300)	(25,100)
Deferred Tax Liabilities, Right of Use Asset	(10,150)	(12,170)
Deferred Tax Liabilities, Goodwill and Intangible Assets	(27,580)	(22,050)
Deferred Tax Liabilities, Investment in Foreign Affiliates, Including Withholding Tax	(510)	(770)
Deferred Tax Liabilities, Gross	(68,540)	(60,090)
Deferred Tax Liabilities, Net	(13,060)	(11,540)
Valuation Allowance [Line Items]
Deferred Tax Assets, Research And Experimentation	$ 6,530	$ 4,130

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 fair value of contingent consideration resulting from business combinations, 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, if any, held on deposit with a financial institution as cash collateral for the Company's outstanding letters of credit.
Receivables	Receivables. Receivables are presented net of allowances for doubtful accounts of $4.2 million and $1.7 million at December 31, 2023 and 2022, respectively. 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 consolidated statement of income. 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 2023 goodwill impairment test, the Company had six reporting units, four 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 value 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 value. The Company places more weight on the events and circumstances that most affect a reporting unit's fair value or the carrying value 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 value. The Company also considers its most recent valuations of its reporting units, including the difference between the most recent fair value estimate and the carrying value. 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 or if the Company elects the option to bypass the qualitative assessment, the Company determines the fair value of the reporting unit being evaluated utilizing a combination of two valuation techniques: discounted cash flow (income approach) and market comparable method (market approach). 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 valuation 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 7, "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 value of the Company's indefinite-lived intangible assets. The Company also considers its most recent valuations of its indefinite-lived intangible assets, including the difference between the most recent fair value estimates and the carrying values. 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 7, "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, up to $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 16, "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." Pre-tax asbestos-related charges are included in selling, general and administrative expenses in the accompanying consolidated statement of income. See Note 15, "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 21, "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. The impact of net foreign currency transactions was a gain of $0.3 million and $0.7 million for the years ended December 31, 2023 and 2022, respectively, and a loss of $0.9 million for the year ended December 31, 2021, and are included in other income (expense), net in the accompanying consolidated statement of income.
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, the changes in the fair value of the derivative is recognized as a component of other comprehensive income (loss) 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 changes in the fair value of the derivative is recognized in other comprehensive income (loss) 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 12, "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 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 17, "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 shareholders' 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.