View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2014	Aug. 05, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Entity Registrant Name	NN INC
Entity Central Index Key	0000918541
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,785,621

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
Net sales	$ 106,680	$ 96,305	$ 209,208	$ 190,102
Cost of products sold (exclusive of depreciation and amortization shown separately below)	84,285	75,751	164,569	150,268
Selling, general and administrative	10,074	8,339	20,104	17,445
Depreciation and amortization	4,084	4,294	7,961	8,825
Loss on disposal of assets		1		5
Income from operations	8,237	7,920	16,574	13,559
Interest expense	551	709	1,115	1,494
Other expense (income), net	129	(214)	212	365
Income before provision for income taxes	7,557	7,425	15,247	11,700
Provision for income taxes	2,357	2,655	4,809	4,059
Net income	5,200	4,770	10,438	7,641
Other comprehensive income:
Foreign currency translation (loss) gain	(725)	1,386	(1,364)	(419)
Comprehensive income	$ 4,475	$ 6,156	$ 9,074	$ 7,222
Basic income per common share:	$ 0.29	$ 0.28	$ 0.59	$ 0.45
Weighted average shares outstanding	17,779	17,136	17,700	17,082
Diluted income per common share:	$ 0.29	$ 0.28	$ 0.58	$ 0.45
Weighted average shares outstanding	18,172	17,172	18,054	17,115
Cash dividends per common share	$ 0.07	$ 0.06	$ 0.14	$ 0.06

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash	$ 5,812	$ 3,039
Accounts receivable, net of allowance for doubtful accounts of $503 and $445, respectively	80,740	58,929
Inventories	61,541	54,530
Other current assets	9,934	9,176
Total current assets	158,027	125,674
Property, plant and equipment, net	132,681	121,089
Goodwill, net	9,384	8,624
Intangible asset, net	2,724	900
Non-current deferred tax assets	1,235	2,713
Other non-current assets	3,369	3,402
Total assets	307,420	262,402
Current liabilities:
Accounts payable	48,540	40,687
Accrued salaries, wages and benefits	13,408	11,761
Current maturities of long-term debt	4,000	10,477
Income taxes payable	3,300	1,340
Other current liabilities	6,088	5,119
Total current liabilities	75,336	69,384
Non-current deferred tax liabilities	3,962	3,844
Long-term debt, net of current portion	53,500	26,000
Other non-current liabilities	10,783	10,414
Total liabilities	143,581	109,642
Total stockholders' equity	163,839	152,760
Total liabilities and stockholders' equity	$ 307,420	$ 262,402

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 503	$ 445

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2014 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]	Non-controlling Interest [Member]	Accumulated Other Comprehensive Income [Member]
Beginning Balance at Dec. 31, 2013	$ 152,760	$ 176	$ 63,126	$ 65,929	$ 0	$ 23,529
Beginning Balance, Shares at Dec. 31, 2013		17,630
Net income	10,438			10,438
Dividends declared	(2,480)			(2,480)
Shares issued for option exercises	$ 640	$ 1	639
Shares issued for option exercises, Shares	65	64
Stock option expense	$ 711		711
Restricted stock expense	575		575
Restricted stock expense, Shares		92
Foreign currency translation loss	(1,364)					(1,364)
Non-controlling interest	2,559				2,559
Ending Balance at Jun. 30, 2014	$ 163,839	$ 177	$ 65,051	$ 73,887	$ 2,559	$ 22,165
Ending Balance, Shares at Jun. 30, 2014		17,786

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Operating Activities:
Net income	$ 10,438	$ 7,641
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,961	8,825
Amortization of debt issuance costs	216	337
Loss on disposal of assets		5
Share-based compensation expense	1,286	1,094
Changes in operating assets and liabilities:
Accounts receivable	(20,594)	(16,036)
Inventories	(4,736)	(569)
Accounts payable	6,939	3,190
Other assets and liabilities	4,191	4,357
Net cash provided by operating activities	5,701	8,844
Investing Activities:
Acquisition of property, plant and equipment	(5,812)	(4,923)
Cash paid to acquire business, net of cash received	(16,217)
Proceeds from disposals of property, plant and equipment		17
Net cash used by investing activities	(22,029)	(4,906)
Financing Activities:
Repayment of short-term debt, net	(763)	(87)
Principal payments on capital lease	(73)	(66)
Proceeds from long-term debt, net	21,786
Repayment of long-term debt, net		(17,715)
Dividends paid	(2,480)
Proceeds from issuance of stock and exercise of stock options	640	186
Net cash provided (used) by financing activities	19,110	(17,682)
Effect of exchange rate changes on cash flows	(9)	(14)
Net Change in Cash	2,773	(13,758)
Cash at Beginning of Period	3,039	18,990
Cash at End of Period	$ 5,812	$ 5,232

Interim Financial Statements	6 Months Ended
Interim Financial Statements	Jun. 30, 2014
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Note 1. Interim Financial Statements The accompanying condensed consolidated financial statements of NN, Inc. have not been audited, except that the condensed consolidated balance sheet at December 31, 2013 was derived from our audited consolidated financial statements. In our opinion, these financial statements reflect all adjustments necessary to fairly state the results of operations for the three and six month periods ended June 30, 2014 and 2013, our financial position at June 30, 2014 and December 31, 2013, and the cash flows for the six month periods ended June 30, 2014 and 2013 on a basis consistent with our audited financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary for fair statement of the financial position and operating results for the interim periods. As used in this Quarterly Report on Form 10-Q, the terms “NN”, “the Company”, “we”, “our”, or “us” mean NN, Inc. and its subsidiaries. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. These unaudited, condensed and consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto included in our most recent Annual Report on Form 10-K for the year ended December 31, 2013 which we filed with the Securities and Exchange Commission on March 14, 2014. The results for the three and six month periods ended June 30, 2014 are not necessarily indicative of results for the year ending December 31, 2014 or any other future periods.

Acquisitions

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Acquisitions

Note 2. Acquisitions

RFK Valjcici d. d. Konjic (“RFK”)

On June 20, 2014, we acquired 79.2% of the outstanding shares of RFK Valjcici d. d. Konjic (“RFK”) for $9,756 in cash. RFK is a manufacturer of tapered rollers with operations in Konjic, Bosnia & Herzegovina. Its products, while complementary to NN’s existing roller bearing components, will broaden the Company’s product offering and allow penetration into adjacent markets. NN expects to acquire the remaining shares of RFK in the near future. In addition, we incurred fees from third parties as part of the purchase of $102, which were expensed as incurred in Selling, general and administrative expense within the Condensed Consolidated Statements of Comprehensive Income. The results of the operations of RFK have been consolidated with NN, Inc. since the date of acquisition. RFK has contributed revenues and net income of approximately $210 and $22, respectively, from the date of acquisition to June 30, 2014.

RFK, a listed company on the Sarajevo Stock Exchange, was founded in 1984 and is expected to have sales of approximately $12.0 million in 2014. RFK currently exports all of its products, predominately to customers serving the European truck, industrial vehicle and railway markets. NN will continue operations at the existing facilities in Bosnia & Herzegovina and will roll up the operations under our Metal Bearing Components Segment.

The following table summarized the estimated fair values of assets acquired and liabilities assumed at the date of acquisition:


Assets acquired and liabilities assumed on June 20, 2014
Current assets	$	3,940
Property, plant, and equipment		7,684
Intangible assets subject to amortization		1,740
Goodwill		732

Total assets acquired	$	14,096
Current liabilities	$	1,781

Total liabilities assumed	$	1,781

Net asset acquired	$	12,315

In addition, we have reported non-controlling interest of $2,559 for RFK representing the fair value of the 20.8% of the shares outstanding we do not own as of June 30, 2014. The accounting for the business combination is based on currently available information and is considered preliminary. We are in the process of finalizing fair market valuations of all the net assets acquired given the purchase was made very close to the end of the quarter. We expect this process to be complete during the third quarter of 2014 and plan to disclose the final allocation within our quarterly report on Form 10-Q for the third quarter of 2014.

The intangible assets subject to amortization are for customer contracts and trade names totaling $1,740 and have a weighted average useful life of approximately 10 years. Goodwill of $732 arising from the acquisition is attributable primarily to the assembled workforce of the acquired business and strategic opportunities that are expected to arise from the acquisition of RFK.

VS Assets Purchase

On January 30, 2014, we purchased the majority of the operating assets of V-S Industries, V-S Precision, LLC and V-S Precision SA de DV (collectively referred to as “VS”) from the secured creditors of V-S Industries for $5,580 in cash and paid $1,840 for certain assumed liabilities. In addition, we incurred fees from third parties as part of the purchase of $716, which were expensed as incurred in Selling, general and administrative expense within the Condensed Consolidated Statements of Comprehensive Income. Finally, we incurred non-recurring costs directly related to the acquisition of $341 for integration. The results of the operations of VS have been consolidated with NN, Inc. since the date of acquisition. VS has contributed revenues and net loss of approximately $5,919 and $(950), including the integration costs, respectively, from the date of acquisition to June 30, 2014.

VS is a precision metal components manufacturer that supplies customers in a variety of industries including electric motors, HVAC, power tools, automotive and medical. The acquisition of VS will provide us with a complementary, but broader product offering and will allow penetration into adjacent markets. VS has two locations in Wheeling, Illinois and Juarez, Mexico and will roll up under the Precision Metal Components Segment.

The following table summarized the fair values of assets acquired and liabilities assumed at the date of acquisition. We finalized the fair market valuations of all of the assets acquired and liabilities assumed at the acquisition date during the second quarter of 2014. The final allocation is disclosed below:


Assets acquired and liabilities assumed on January 30, 2014	March 31, 2014		2014 adjustments to fair value			June 30, 2014
Current assets	$	1,263	$	144		$	1,407
Property, plant, and equipment		6,902		164			7,066
Intangible assets subject to amortization		75		—			75
Goodwill		244		(244	)		—

Total assets acquired	$	8,484	$	64		$	8,548
Current liabilities	$	2,904	$	64		$	2,968

Total liabilities assumed	$	2,904	$	64		$	2,968

Net asset acquired	$	5,580	$	—		$	5,580

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Inventories

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Inventories

Note 3. Inventories

Inventories are comprised of the following:


	June 30, 2014		December 31, 2013
Raw materials	$	19,380	$	15,448
Work in process		11,491		9,672
Finished goods		30,670		29,410

	$	61,541	$	54,530

Inventories on consignment at customer locations as of June 30, 2014 and December 31, 2013 totaled $5,733 and $4,735, respectively.

Inventories are stated at the lower of cost or market. Cost is determined using the average cost method. The inventory valuations above were developed using normalized production capacities for each of our manufacturing locations. Any costs from abnormal excess capacity or under-utilization of fixed production overheads are expensed in the period incurred and are not included as a component of inventory valuation.

Net Income Per Share	6 Months Ended
Net Income Per Share	Jun. 30, 2014
Earnings Per Share [Abstract]
Net Income Per Share	Note 4. Net Income Per Share The difference between the basic weighted average shares outstanding and the diluted weighted average shares outstanding for all periods reported are the effect of dilutive stock options calculated using the treasury stock method. The dilutive shares for the three and six month periods ended June 30, 2014 were 393 and 354, respectively. The dilutive shares for the three and six month periods ended June 30, 2013 were 36 and 33, respectively. There were no anti-dilutive options excluded from the dilutive shares outstanding for the three and six month periods ended June 30, 2014. Excluded from the dilutive shares outstanding for the three and six month periods ended June 30, 2013 were 1,027 of anti-dilutive options which had exercise prices ranging from $9.97 to $14.13.

Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

Note 5. Segment Information

The segment information and the accounting policies of each segment are the same as those described in the notes to the consolidated financial statements entitled “Segment Information” and “Summary of Significant Accounting Policies and Practices,” respectively, included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013. We evaluate segment performance based on segment net income (loss). The 2013 segment net income (loss) amounts were amended to remove interest costs, net of taxes formerly allocated to the segments prior to the third quarter of 2013. We account for inter-segment sales and transfers at current market prices. We did not have any significant inter-segment transactions during the three and six month periods ended June 30, 2014 and 2013.


(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended June 30, 2014
Revenues from external customers	$	73,038	$	25,267	$	8,375	$	—		$	106,680
Net income (loss)	$	5,808	$	1,457	$	267	$	(2,332	)	$	5,200
Six Months ended June 30, 2014
Revenues from external customers	$	143,938	$	49,005	$	16,265	$	—		$	209,208
Net income (loss)	$	11,764	$	3,098	$	418	$	(4,842	)	$	10,438
Total assets	$	227,313	$	54,529	$	17,718	$	7,860		$	307,420

(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended June 30, 2013
Revenues from external customers	$	65,869	$	21,543	$	8,893	$	—		$	96,305
Net income (loss)	$	4,847	$	1,819	$	201	$	(2,097	)	$	4,770
Six Months ended June 30, 2013
Revenues from external customers	$	129,557	$	42,286	$	18,259	$	—		$	190,102
Net income (loss)	$	8,871	$	2,868	$	460	$	(4,558	)	$	7,641
Total assets	$	189,756	$	41,484	$	19,909	$	10,290		$	261,439

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Post-Employment Benefit Liabilities

6 Months Ended

Jun. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Post-Employment Benefit Liabilities

Note 6. Post-Employment Benefit Liabilities

We provide certain post-employment benefits to employees at our Pinerolo and Veenendaal Plants that are either required by law or are local labor practice. These plans are described below.

In accordance with Italian law, we have an unfunded severance plan covering our Pinerolo Plant employees under which all employees at that location are entitled to receive severance indemnities upon termination of their employment.

We have certain plans that cover our Veenendaal Plant employees that provide awards for employees who achieve 25 or 40 years of service and awards for employees upon retirement. The plans are unfunded and the benefits are based on years of service and rate of compensation at the time the award is paid.

The amounts shown in the table below represent the combined actual liabilities at June 30, 2014 and December 31, 2013, reported as a component of Other non-current liabilities in the Condensed Consolidated Balance Sheets.


	June 30, 2014			December 31, 2013
Beginning balance	$	6,920		$	6,930
Amounts accrued		204			1,019
Payments to employees/government managed plan		(148	)		(1,331	)
Foreign currency impacts		(66	)		302

Ending balance	$	6,910		$	6,920

Long-Term Debt and Short-Term Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Long-Term Debt and Short-Term Debt

Note 7. Long-Term Debt and Short-Term Debt

Long-term debt and short-term debt at June 30, 2014 and December 31, 2013 consisted of the following:


	June 30, 2014		December 31, 2013
Borrowings under our $100,000 revolving credit facility bearing interest at a floating rate equal to LIBOR (0.1875% at June 30, 2014) plus an applicable margin of 1.25% at June 30, 2014, expiring October 26, 2017.	$	37,500	$	10,763
Borrowings under our $40,000 aggregate principal amount of fixed rate notes bore interest at a fixed rate of 4.89% and matured on April 26, 2014. Annual principal payments of $5,714 began on April 26, 2008 and extend through the date of maturity.		—		5,714
Borrowings under our $20,000 aggregate principal amount of fixed rate notes bearing interest at a fixed rate of 4.64% maturing on December 20, 2018. Annual principal payments of $4,000 will begin on December 22, 2014 and extend through the date of maturity.		20,000		20,000

Total debt		57,500		36,477
Less current maturities of long-term debt		4,000		10,477

Long-term debt, excluding current maturities of long-term debt	$	53,500	$	26,000

The $100,000 revolving credit facility may be expanded upon our request with approval of the lenders by up to $35,000 under the same terms and conditions. The loan agreement contains customary restrictions on, among other things, additional indebtedness, liens on our assets, sales or transfers of assets, investments, issuance of equity securities, and merger, acquisition and other fundamental changes in our business including a “material adverse change” clause, which if triggered would give the lenders the right to accelerate the maturity of the debt. The facility has a $10,000 swing line feature to meet short term cash flow needs. Any borrowings under this swing line are considered short term. Costs associated with entering into the revolving credit facility were capitalized and will be amortized into interest expense over the life of the facility. As of June 30, 2014 and December 31, 2013, $1,404 and $1,617, respectively of net capitalized loan origination costs related to the revolving credit facility were recorded on the condensed consolidated balance sheet within other non-current assets.

The $20,000 fixed rate agreements contain customary restrictions on, among other things, additional indebtedness, liens on our assets, sales or transfers of assets, investments, issuance of equity securities, and mergers, acquisitions and other fundamental changes in our business including a “material adverse change” clause, which if triggered would give the lenders the right to accelerate the maturity of the debt. We incurred costs as a result of issuing these notes which have been recorded on the condensed consolidated balance sheet within other non-current assets and are being amortized over the term of the notes. The unamortized balance at June 30, 2014 and December 31, 2013 was $30 and $34, respectively.

Goodwill, net

6 Months Ended

Jun. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill, net

Note 8. Goodwill, net

The changes in the carrying amount of goodwill, net for the six month period ended June 30, 2014 are as follows:


(In Thousands of Dollars)	Metal Bearing Components Segment
Balance as of January 1, 2014	$	8,624
Currency translation impacts		28
Goodwill acquired in acquisition		732

Balance as of June 30, 2014	$	9,384

The goodwill balance is tested for impairment on an annual basis during the fourth quarter and between annual tests if a triggering event occurs. As of June 30, 2014, there are no indications of impairment at the reporting units with a goodwill balance.

The goodwill acquired in acquisition during 2014 within the Metal Bearing Components segment was acquired during the three months ended June 30, 2014 with the acquisition of RFK (see Note 2 of the Notes to Condensed Consolidated Financial Statements).

Intangible Assets, Net	6 Months Ended
Intangible Assets, Net	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 9. Intangible Assets, Net The Precision Metal Components Segment has an indefinite lived intangible asset not subject to amortization of $900 related to the value of the trade names of Whirlaway. The intangible asset balance is tested for impairment on an annual basis during the fourth quarter and between annual tests if a triggering event occurs. There are no indicators of impairment for the intangible asset as of June 30, 2014. Additionally, the Precision Metal Components Segment acquired a customer contract intangible asset and proprietary software intangible assets related to the acquisition of VS during the six months ended of June 30, 2014 of $75. These intangible assets have a weighted average useful life of 10 years and are subject to amortization of approximately $8 a year (See Note 2 of the Notes to Condensed Consolidated Financial Statements). The Metal Bearing Components Segment acquired a customer contract intangible asset and a trade name intangible asset related to the acquisition of RFK during the six months ended June 30, 2014 of $1,749. These intangible assets have a weighted average useful life of 10 years and is subject to amortization of $175 per year. (See Note 2 of the Notes to Condensed Consolidated Financial Statements).

Shared-Based Compensation

6 Months Ended

Jun. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Shared-Based Compensation

Note 10. Shared-Based Compensation

During the three and six month periods ended June 30, 2014 and 2013, approximately $714 and $1,286 in 2014 and $664 and $1,094 in 2013, respectively, of compensation expense was recognized in selling, general and administrative expense for all share-based awards. During the six month period ended June 30, 2014, there were 97 share awards and 98 options awards to non-executive directors, officers and certain other key employees. During the six month period ended June 30, 2013, there were 95 share awards and 354 options awards to non-executive directors, officers and certain other key employees.

The restricted shares granted during the six month periods ended June 30, 2014 and 2013, vest pro-rata over three years. During the six month periods ended June 30, 2014 and 2013, we incurred $575 and $411, respectively, in expense related to restricted stock. The fair value of the shares issued was determined by using the grant date closing price of our common stock.

We incurred $711 and $683 of stock option expense in the six month periods ended June 30, 2014 and 2013, respectively. The fair value of our options cannot be determined by market value, as our options are not traded in an open market. Accordingly, the Black Scholes financial pricing model is utilized to estimate the fair value.

The following table provides a reconciliation of option activity for the six month period ended June 30, 2014:


Options	Shares (000)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2014		1,233		$	10.65
Granted		98		$	19.69
Exercised		(65	)	$	11.84
Forfeited or expired		(8	)	$	12.62

Outstanding at June 30, 2014		1,258		$	11.24		6.5	$	17,995	⁽¹⁾

Exercisable at June 30, 2014		882		$	10.89		5.5	$	12,964	⁽¹⁾

⁽¹⁾	The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at June 30, 2014.

Provision for Income Taxes	6 Months Ended
Provision for Income Taxes	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Note 11. Provision for Income Taxes For the six month periods ended June 30, 2014 and 2013, our effective tax rates were 32% and 35%, respectively. The difference between the U.S. federal statutory tax rate of 34% and our effective tax rates for the six months ended June 30, 2014 was primarily due to the effective tax rate being impacted by non-U.S. based earnings being taxed at lower rates. As of June 30, 2014, we do not foresee any significant changes to our unrecognized tax benefits within the next twelve months.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies All legal proceedings, with the exception of the bankruptcy of our German subsidiary discussed below, are of an ordinary and routine nature and are incidental to our operations. Management believes that such proceedings should not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations, or cash flows. In making that determination, we analyze the facts and circumstances of each case at least quarterly in consultation with our attorneys and determine a range of reasonably possible outcomes. The procedures performed include reviewing attorney and plaintiff correspondence, reviewing any filings made and discussing the facts of the case with local management and legal counsel. We have recognized loss contingencies of approximately $0 and $200 at June 30, 2014 and December 31, 2013, respectively, which we believe are adequate to cover all probable liabilities to be incurred by all of the cases in the aggregate. As discussed more fully in our Annual Report on Form 10-K filed March 14, 2014, the ultimate impact on NN of our wholly owned German subsidiary Kugelfertigung Eltmann GbmH (“Eltmann” or “Eltmann Plant”) filing for bankruptcy will depend on the findings of the bankruptcy court. We do not expect any further significant impacts on our condensed consolidated financial statements as a result of the liquidation of this subsidiary.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 13. Fair Value of Financial Instruments

The fair values of our fixed rate long-term borrowings are calculated by using a discounted cash flow analysis factoring in current market borrowing rates for similar types of borrowing arrangements considering our credit profile. The carrying value of our variable rate long-term borrowings is a reasonable approximation of fair value due to the variable interest rates. The fair value of our fixed rate and variable rate borrowings is determined using Level 2 inputs under the U.S. GAAP fair value hierarchy. The carrying amounts and fair values of our long-term debt are in the table below:


	June 30, 2014				December 31, 2013
(In Thousands of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Variable rate long-term debt	$	37,500	$	37,500	$	10,763	$	10,763
Fixed rate long-term debt	$	20,000	$	20,712	$	25,714	$	26,507

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events On July 21, 2014, we announced the signing of a definitive agreement to acquire Autocam Corporation (“Autocam”) for $244,500 in cash, $25,000 in stock and the assumption of $30,500 in debt. Autocam is a global leader in the engineering, manufacture and assembly of highly complex, system critical components for fuel systems, engines and transmission, power steering and electric motors. This transaction is expected to contribute over $250,000 to our revenues on a pro forma full year basis. Additionally, this acquisition will leverage NN’s and Autocam’s complementary core strengths and values and will position our Precision Metal Components business segment to outgrow its end markets by taking advantage of global market trends in fuel efficient technologies such as gasoline direct injection systems, high-pressure diesel injection systems and variable valve timing. We anticipate the transaction to close in the third quarter, subject to customary closing conditions and regulatory approval. We expect to finance the acquisition of Autocam by obtaining a term loan facility in the aggregate principal amount of $350,000, and an asset-based credit facility in the aggregate principal amount of $100,000, each of which will be guaranteed by our existing and future domestic subsidiaries. Additional details regarding the acquisition of Autocam or the financing for the transaction may be found in our Current Report on Form 8-K filed with the Securities and Exchange Commission on July 22, 2014.

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2014

RFK [Member]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarized the estimated fair values of assets acquired and liabilities assumed at the date of acquisition:


Assets acquired and liabilities assumed on June 20, 2014
Current assets	$	3,940
Property, plant, and equipment		7,684
Intangible assets subject to amortization		1,740
Goodwill		732

Total assets acquired	$	14,096
Current liabilities	$	1,781

Total liabilities assumed	$	1,781

Net asset acquired	$	12,315

VS [Member]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarized the fair values of assets acquired and liabilities assumed at the date of acquisition.


Assets acquired and liabilities assumed on January 30, 2014	March 31, 2014		2014 adjustments to fair value			June 30, 2014
Current assets	$	1,263	$	144		$	1,407
Property, plant, and equipment		6,902		164			7,066
Intangible assets subject to amortization		75		—			75
Goodwill		244		(244	)		—

Total assets acquired	$	8,484	$	64		$	8,548
Current liabilities	$	2,904	$	64		$	2,968

Total liabilities assumed	$	2,904	$	64		$	2,968

Net asset acquired	$	5,580	$	—		$	5,580

Inventories (Tables)

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories are comprised of the following:


	June 30, 2014		December 31, 2013
Raw materials	$	19,380	$	15,448
Work in process		11,491		9,672
Finished goods		30,670		29,410

	$	61,541	$	54,530

Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

We did not have any significant inter-segment transactions during the three and six month periods ended June 30, 2014 and 2013.


(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended June 30, 2014
Revenues from external customers	$	73,038	$	25,267	$	8,375	$	—		$	106,680
Net income (loss)	$	5,808	$	1,457	$	267	$	(2,332	)	$	5,200
Six Months ended June 30, 2014
Revenues from external customers	$	143,938	$	49,005	$	16,265	$	—		$	209,208
Net income (loss)	$	11,764	$	3,098	$	418	$	(4,842	)	$	10,438
Total assets	$	227,313	$	54,529	$	17,718	$	7,860		$	307,420

(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended June 30, 2013
Revenues from external customers	$	65,869	$	21,543	$	8,893	$	—		$	96,305
Net income (loss)	$	4,847	$	1,819	$	201	$	(2,097	)	$	4,770
Six Months ended June 30, 2013
Revenues from external customers	$	129,557	$	42,286	$	18,259	$	—		$	190,102
Net income (loss)	$	8,871	$	2,868	$	460	$	(4,558	)	$	7,641
Total assets	$	189,756	$	41,484	$	19,909	$	10,290		$	261,439

Post-Employment Benefit Liabilities (Tables)

6 Months Ended

Jun. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Schedule of Changes to Post-Employment Benefits


	June 30, 2014			December 31, 2013
Beginning balance	$	6,920		$	6,930
Amounts accrued		204			1,019
Payments to employees/government managed plan		(148	)		(1,331	)
Foreign currency impacts		(66	)		302

Ending balance	$	6,910		$	6,920

Long-Term Debt and Short-Term Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Summary of Long-Term Debt and Short-Term Debt

Long-term debt and short-term debt at June 30, 2014 and December 31, 2013 consisted of the following:


	June 30, 2014		December 31, 2013
Borrowings under our $100,000 revolving credit facility bearing interest at a floating rate equal to LIBOR (0.1875% at June 30, 2014) plus an applicable margin of 1.25% at June 30, 2014, expiring October 26, 2017.	$	37,500	$	10,763
Borrowings under our $40,000 aggregate principal amount of fixed rate notes bore interest at a fixed rate of 4.89% and matured on April 26, 2014. Annual principal payments of $5,714 began on April 26, 2008 and extend through the date of maturity.		—		5,714
Borrowings under our $20,000 aggregate principal amount of fixed rate notes bearing interest at a fixed rate of 4.64% maturing on December 20, 2018. Annual principal payments of $4,000 will begin on December 22, 2014 and extend through the date of maturity.		20,000		20,000

Total debt		57,500		36,477
Less current maturities of long-term debt		4,000		10,477

Long-term debt, excluding current maturities of long-term debt	$	53,500	$	26,000

Goodwill, net (Tables)

6 Months Ended

Jun. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill, net for the six month period ended June 30, 2014 are as follows:


(In Thousands of Dollars)	Metal Bearing Components Segment
Balance as of January 1, 2014	$	8,624
Currency translation impacts		28
Goodwill acquired in acquisition		732

Balance as of June 30, 2014	$	9,384

Shared-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Reconciliation of Option Activity

The following table provides a reconciliation of option activity for the six month period ended June 30, 2014:


Options	Shares (000)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2014		1,233		$	10.65
Granted		98		$	19.69
Exercised		(65	)	$	11.84
Forfeited or expired		(8	)	$	12.62

Outstanding at June 30, 2014		1,258		$	11.24		6.5	$	17,995	⁽¹⁾

Exercisable at June 30, 2014		882		$	10.89		5.5	$	12,964	⁽¹⁾

⁽¹⁾	The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at June 30, 2014.

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Fair Values of Long-term Debt

The carrying amounts and fair values of our long-term debt are in the table below:


	June 30, 2014				December 31, 2013
(In Thousands of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Variable rate long-term debt	$	37,500	$	37,500	$	10,763	$	10,763
Fixed rate long-term debt	$	20,000	$	20,712	$	25,714	$	26,507

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Jun. 20, 2014	Jan. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Business combinations net income during period from acquired business			$ 5,200	$ 4,770	$ 10,438	$ 7,641
Non-controlling interest					(2,559)
Goodwill arising from acquisition			$ 9,384		9,384			$ 8,624
Operating assets acquired in cash					$ 16,217
RFK [Member]
Business Acquisition [Line Items]
Date of acquisition					Jun. 20, 2014
Percentage of shares acquired	79.20%
Payments to acquire businesses	$ 9,756
Fees incurred from third parties as part of acquisition	102
Business combinations revenue during period from acquired business					$ 210
Business combinations net income during period from acquired business					22
Expected sales of acquired entity					12,000
Non-controlling interest					$ 2,559
Percentage of shares owned by non controlling owners			20.80%		20.80%
Intangible assets subject to amortization	1,740
Weighted average life of intangible assets subject to amortization					10 years
Goodwill arising from acquisition	$ 732		$ 732		$ 732
RFK [Member] \| Customer Contracts and Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets subject to amortization			1,740		$ 1,740
VS [Member]
Business Acquisition [Line Items]
Date of acquisition					Jan. 30, 2014
Fees incurred from third parties as part of acquisition		$ 716
Business combinations revenue during period from acquired business					$ 5,919
Business combinations net income during period from acquired business					(950)
Intangible assets subject to amortization			$ 75		$ 75		$ 75
Goodwill arising from acquisition							$ 244
Operating assets acquired in cash		5,580
Liabilities assumed		1,840
Integration costs incurred as part of acquisition		$ 341

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Jun. 20, 2014	Mar. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 9,384			$ 8,624
VS [Member]
Business Acquisition [Line Items]
Current assets	1,407		$ 1,263
Property, plant, and equipment	7,066		6,902
Intangible assets subject to amortization	75		75
Goodwill			244
Total assets acquired	8,548		8,484
Current liabilities	2,968		2,904
Total liabilities assumed	2,968		2,904
Net asset acquired	5,580		$ 5,580
VS [Member] \| Adjustments to Fair Value [Member]
Business Acquisition [Line Items]
Current assets	144
Property, plant, and equipment	164
Goodwill	(244)
Total assets acquired	64
Current liabilities	64
Total liabilities assumed	64
RFK [Member]
Business Acquisition [Line Items]
Current assets		$ 3,940
Property, plant, and equipment		7,684
Intangible assets subject to amortization		1,740
Goodwill	$ 732	732
Total assets acquired		14,096
Current liabilities		1,781
Total liabilities assumed		1,781
Net asset acquired		$ 12,315

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 19,380	$ 15,448
Work in process	11,491	9,672
Finished goods	30,670	29,410
Inventories	$ 61,541	$ 54,530

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Inventory on consignment at customers' location	$ 5,733	$ 4,735

Net Income Per Share - Additional Information (Detail) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]
Dilutive shares	393	36	354	33
Anti-dilutive options	0	1,027	0	1,027
Anti-dilutive securities excluded from computation of earnings per share minimum price range		$ 9.97		$ 9.97
Anti-dilutive securities excluded from computation of earnings per share maximum price range		$ 14.13		$ 14.13

Segment Information - Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]
Revenues from external customers	$ 106,680	$ 96,305	$ 209,208	$ 190,102
Net income (loss)	5,200	4,770	10,438	7,641
Total assets	307,420	261,439	307,420	261,439	$ 262,402
Metal Bearing Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	73,038	65,869	143,938	129,557
Net income (loss)	5,808	4,847	11,764	8,871
Total assets	227,313	189,756	227,313	189,756
Precision Metal Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	25,267	21,543	49,005	42,286
Net income (loss)	1,457	1,819	3,098	2,868
Total assets	54,529	41,484	54,529	41,484
Plastic and Rubber Components Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	8,375	8,893	16,265	18,259
Net income (loss)	267	201	418	460
Total assets	17,718	19,909	17,718	19,909
Corporate and Consolidations [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Net income (loss)	(2,332)	(2,097)	(4,842)	(4,558)
Total assets	$ 7,860	$ 10,290	$ 7,860	$ 10,290

- Definition

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

+ References + Details

Post-Employment Benefit Liabilities - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Minimum [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Awards for employees	25 years
Maximum [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Awards for employees	40 years

Post-Employment Benefit Liabilities - Schedule of Changes to Post-Employment Benefits (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Compensation And Retirement Disclosure [Abstract]
Beginning balance	$ 6,920	$ 6,930
Amounts accrued	204	1,019
Payments to employees/government managed plan	(148)	(1,331)
Foreign currency impacts	(66)	302
Ending balance	$ 6,910	$ 6,920

Long-Term Debt and Short-Term Debt - Summary of Long-Term Debt and Short-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total debt	$ 57,500	$ 36,477
Less current maturities of long-term debt	4,000	10,477
Long-term debt, excluding current maturities of long-term debt	53,500	26,000
Total debt	57,500	36,477
October 26, 2017 [Member]
Debt Instrument [Line Items]
Borrowings under our $100,000 revolving credit facility bearing interest at a floating rate equal to LIBOR (0.1875% at June 30, 2014) plus an applicable margin of 1.25% at June 30, 2014, expiring October 26, 2017.	37,500	10,763
April 26, 2014 [Member]
Debt Instrument [Line Items]
Borrowings under our $40,000 aggregate principal amount of fixed rate notes bore interest at a fixed rate of 4.89% and matured on April 26, 2014. Annual principal payments of $5,714 began on April 26, 2008 and extend through the date of maturity.		5,714
December 20, 2018 [Member]
Debt Instrument [Line Items]
Borrowings under our $20,000 aggregate principal amount of fixed rate notes bearing interest at a fixed rate of 4.64% maturing on December 20, 2018. Annual principal payments of $4,000 will begin on December 22, 2014 and extend through the date of maturity.	$ 20,000	$ 20,000

Long-Term Debt and Short-Term Debt - Summary of Long-Term Debt and Short-Term Debt (Parenthetical) (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2014 USD ($)
October 26, 2017 [Member]
Debt Instrument [Line Items]
Borrowings	$ 100,000
Line of credit LIBOR rate	0.1875%
Applicable margin added to the interest rate post amendment	1.25%
April 26, 2014 [Member]
Debt Instrument [Line Items]
Percentage of fixed interest rate bearing	4.89%
April 26, 2014 [Member] \| Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Fixed rate notes payable	$ 40,000
Annual principal payment of fixed rate notes	$ 5,714
December 20, 2018 [Member]
Debt Instrument [Line Items]
Percentage of fixed interest rate bearing	4.64%
December 20, 2018 [Member] \| Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Fixed rate notes payable	$ 20,000
Annual principal payment of fixed rate notes	$ 4,000

Long-Term Debt and Short-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Potential to expand credit facility under credit agreement	$ 35,000
Amount of credit facility to meet short term cash flow needs	10,000
December 20, 2018 [Member]
Line of Credit Facility [Line Items]
Notes payable	20,000
Fixed Rate Notes [Member]
Line of Credit Facility [Line Items]
Unamortized balance	30	$ 34
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowings	100,000
Unamortized balance	$ 1,404	$ 1,617

Goodwill, Net - Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2014 USD ($)
Goodwill [Line Items]
Beginning Balance	$ 8,624
Ending Balance	9,384
Metal Bearing Components Segment [Member]
Goodwill [Line Items]
Beginning Balance	8,624
Currency translation impacts	28
Goodwill acquired in acquisition	732
Ending Balance	$ 9,384

Goodwill, Net - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2014 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0

Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible asset not subject to amortization	$ 2,724	$ 900
Whirlaway [Member]
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible asset not subject to amortization	900
VS [Member]
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 75
VS [Member] \| Customer Contracts [Member]
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years
Amortization of intangible assets	$ 8
RFK [Member] \| Customer Contracts [Member]
Goodwill And Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 1,749
Finite-lived intangible asset, useful life	10 years
Amortization of intangible assets	$ 175

Shared-Based Compensation - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense	$ 714	$ 664	$ 1,286	$ 1,094
Number of options granted			98	354
Shares granted other than options			97	95
Expenses related to issuance of restricted stock			$ 575	$ 411
Vesting period of stock issue			3 years	3 years
Stock or unit option plan expense			$ 711	$ 683

Shared-Based Compensation - Reconciliation of Option Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of options, Outstanding, Beginning Balance	1,233
Number of Options, Granted	98	354
Number of Options, Exercised	(65)
Number of Options, Forfeited or expired	(8)
Number of Options, Outstanding, Ending Balance	1,258
Number of Options, Options Exercisable	882
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$ 10.65
Weighted-Average Exercise Price, Granted	19.69
Weighted-Average Exercise Price, Exercised	11.84
Weighted-Average Exercise Price, Forfeited or expired	12.62
Weighted-Average Exercise Price, Outstanding, Ending Balance	11.24
Weighted-Average Exercise Price, Options exercisable	$ 10.89
Weighted-Average Remaining Contractual Term, Outstanding, Ending Balance	6 years 6 months
Weighted- Average Remaining Contractual Term, Options exercisable	5 years 6 months
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 17,995
Aggregate Intrinsic Value, Options exercisable	$ 12,964

Provision for Income Taxes - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]
State and Local effective income tax rate	32.00%	35.00%
U.S. federal statutory rate	34.00%

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Commitments And Contingencies Disclosure [Abstract]
Recognized loss contingency	$ 0	$ 200

Fair Value of Financial Instruments - Summary of Carrying Amounts and Fair Values of Long-term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2014	Dec. 31, 2013
Variable Rate Long-Term Debt [Member]
Debt Instrument [Line Items]
Long-term debt carrying amount	$ 37,500	$ 10,763
Long-term debt fair value	37,500	10,763
Fixed Rate Long-Term Debt [Member]
Debt Instrument [Line Items]
Long-term debt carrying value	20,000	25,714
Long-term debt fair value	$ 20,712	$ 26,507

- 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

Subsequent Events - Additional Information (Detail) - Autocam Corporation [Member] - USD ($) $ in Thousands		6 Months Ended
	Jul. 21, 2014	Jun. 30, 2014
Subsequent Event [Line Items]
Business acquisition, date of agreement		Jul. 21, 2014
Subsequent Event [Member]
Subsequent Event [Line Items]
Business acquisition, consideration transferred in cash	$ 244,500
Business acquisition, consideration transferred in stock	25,000
Business acquisition, consideration in assumption of debt	30,500
Business acquisition, proforma revenue	$ 250,000
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Term loan facility		$ 350,000
Asset based credit facility		$ 100,000