Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 24, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	BARNES GROUP INC
Entity Central Index Key	0000009984
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		51,384,304

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 376,692	$ 366,660
Cost of sales	244,643	237,134
Selling and administrative expenses	81,400	72,893
Total operating costs and expenses	326,043	310,027
Operating income	50,649	56,633
Interest expense	5,113	3,892
Other expense (income), net	1,806	1,763
Income before income taxes	43,730	50,978
Income taxes	9,738	12,160
Net income	$ 33,992	$ 38,818
Per common share:
Basic (in dollars per share)	$ 0.66	$ 0.73
Diluted (in dollars per share)	$ 0.65	$ 0.72
Weighted average common shares outstanding:
Basic (in shares)	51,660,804	53,535,424
Diluted (in shares)	52,189,465	54,089,327

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Statement of Comprehensive Income [Abstract]

Net income

$ 33,992

$ 38,818

Other comprehensive (loss) income, net of tax

Unrealized (loss) gain on hedging activities, net of tax (1)

^[1]

(568)

396

Foreign currency translation adjustments, net of tax (2)

^[2]

(9,225)

26,953

Defined benefit pension and other postretirement benefits, net of tax (3)

^[3]

1,615

3,164

Total other comprehensive (loss) income, net of tax

(8,178)

30,513

Total comprehensive income

25,814

69,331

Unrealized (loss) gain on hedging activities, tax

(175)

148

Foreign currency translation adjustment, tax

(100)

162

Defined benefit pension and other postretirement benefits, tax

$ 540

$ 1,257

[1]	Net of tax of $(175) and $148 for the three months ended March 31, 2019 and 2018, respectively.
[2]	Net of tax of $(100) and $162 for the three months ended March 31, 2019 and 2018, respectively.
[3]	Net of tax of $540 and $1,257 for the three months ended March 31, 2019 and 2018, respectively.

Consolidated Balance Sheets - USD ($) $ in Thousands	3 Months Ended
Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 103,507	$ 100,719
Accounts receivable, less allowances (2019 - $4,957; 2018 - $5,010)	377,826	382,253
Inventories	257,249	265,990
Prepaid expenses and other current assets	58,839	57,184
Prepaid expenses and other current assets	(2,670)
Total current assets	797,421	806,146
Deferred income taxes	19,609	20,474
Property, plant and equipment	856,661	853,497
Less accumulated depreciation	(488,790)	(482,966)
Property, plant and equipment, net	367,871	370,531
Goodwill	944,809	955,524
Other intangible assets, net	617,562	636,538
Other assets	52,403	19,757
Total assets	2,799,675	2,808,970
Current liabilities
Notes and overdrafts payable	23,051	2,137
Accounts payable	132,329	143,419
Accrued liabilities	208,420	206,782
Long-term debt - current	5,231	5,522
Total current liabilities	369,031	357,860
Long-term debt	877,540	936,357
Accrued retirement benefits	102,061	104,302
Deferred income taxes	103,366	106,559
Long-term tax liability	72,961	72,961
Other liabilities	50,213	27,875
Commitments and contingencies (Note 17)
Stockholders' equity
Common stock - par value $0.01 per share Authorized: 150,000,000 shares Issued: at par value (2019 - 63,417,803 shares; 2018 - 63,367,133 shares)	634	634
Additional paid-in capital	474,857	470,818
Treasury stock, at cost (2019 - 12,034,986 shares; 2018 - 12,033,580 shares)	(441,748)	(441,668)
Retained earnings	1,389,438	1,363,772
Accumulated other non-owner changes to equity	(198,678)	(190,500)
Total stockholders' equity	1,224,503	1,203,056
Total liabilities and stockholders' equity	$ 2,799,675	$ 2,808,970

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,957	$ 5,010
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	63,417,803	63,367,133
Treasury stock, at cost (in shares)	12,034,986	12,033,580

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income	$ 33,992	$ 38,818
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	25,100	23,677
Loss (gain) on disposition of property, plant and equipment	91	(158)
Stock compensation expense	3,021	2,501
Changes in assets and liabilities:
Accounts receivable	4,345	(26,841)
Inventories	7,300	(13,920)
Prepaid expenses and other current assets	(2,670)	(6,028)
Accounts payable	(9,179)	4,488
Accrued liabilities	(4,708)	10,494
Deferred income taxes	(872)	(66)
Long-term retirement benefits	(3,428)	(2,213)
Other	68	(269)
Net cash provided by operating activities	53,060	30,483
Investing activities:
Proceeds from disposition of property, plant and equipment	322	552
Capital expenditures	(13,738)	(11,210)
Other	0	(1,000)
Net cash used by investing activities	(13,416)	(11,658)
Financing activities:
Net change in other borrowings	20,903	9,169
Payments on long-term debt	(152,195)	(111,845)
Proceeds from the issuance of long-term debt	102,990	87,500
Proceeds from the issuance of common stock	986	317
Common stock repurchases	0	(33,541)
Dividends paid	(8,217)	(7,453)
Withholding taxes paid on stock issuances	(80)	(68)
Other	(1,340)	(6,546)
Net cash used by financing activities	(36,953)	(62,467)
Effect of exchange rate changes on cash flows	97	3,053
Increase (decrease) in cash and cash equivalents	2,788	(40,589)
Cash and cash equivalents at beginning of period	100,719	145,290
Cash and cash equivalents at end of period	$ 103,507	$ 104,701

Basis of Presentation (Notes)	3 Months Ended
Basis of Presentation (Notes)	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated balance sheet and the related unaudited consolidated statements of income, comprehensive income and cash flows have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The consolidated financial statements do not include all information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The balance sheet as of December 31, 2018 has been derived from the 2018 financial statements of Barnes Group Inc. (the “Company”). For additional information, please refer to the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair statement of the results, have been included. Operating results for the three-month period ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. Certain reclassifications have been made to prior year amounts to conform to current year presentation.

Acquisitions

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

In the third quarter of 2018, the Company acquired Industrial Gas Springs Group Holdings Limited (“IGS”) and in the fourth quarter of 2018, the Company acquired Gimatic S.r.l ("Gimatic"). The following table reflects the unaudited pro forma operating results of the Company for the three months ended March 31, 2018, which give effect to the acquisitions of Gimatic and IGS as if they had occurred on January 1, 2017. The pro forma results are based on assumptions that the Company believes are reasonable under the circumstances. The pro forma results are not necessarily indicative of the operating results that would have occurred if the acquisitions had been effective January 1, 2017, nor are they intended to be indicative of results that may occur in the future. The underlying pro forma information includes the historical financial results of the Company and the acquired entities adjusted for certain items including amortization expense associated with the assets acquired and the Company’s expense related to financing arrangements, with the related tax effects. The pro forma information does not include the effects of any synergies or cost reduction initiatives related to the acquisitions.



	(Unaudited Pro Forma)
	Three Months Ended March 31, 2018
Net Sales	$	386,562
Net Income	37,294

Recent Accounting Standards	3 Months Ended
Recent Accounting Standards	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards	Recent Accounting Standards The Financial Accounting Standards Board ("FASB") establishes changes to accounting principles under U.S. GAAP through the use of Accounting Standards Updates ("ASUs") to the FASB's Accounting Standards Codification. The Company evaluates the applicability and potential impacts of recent ASUs on its Consolidated Financial Statements and related disclosures. Recently Adopted Accounting Standards In February 2016, the FASB amended its guidance related to lease accounting. The amended guidance required lessees to recognize a majority of their leases on the balance sheet as a right-of-use ("ROU") asset and a lease liability. Lessees are permitted to make an accounting policy election to not recognize an asset and liability for leases with a term of twelve months or less. Lease expense will be recorded in a manner similar to current accounting, with leases being classified as either finance or operating in nature. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The Company adopted the new standard using the modified retrospective approach on January 1, 2019. The Company's adoption included lease codification improvements that were issued by the FASB through March 2019. The Company elected an available transition method that uses the effective date of the amended guidance as the date of initial application. The FASB made available several practical expedients in adopting the amended lease accounting guidance. The Company elected the package of practical expedients permitted under the transition guidance within the amended guidance, which among other things, allowed registrants to carry forward historical lease classification. The Company elected the practical expedient that allows the combination of both lease and non-lease components as a single component and account for it as a lease for all classes of underlying assets. The Company elected not to apply the amended guidance to short term leases with an initial term of 12 months or less. The Company recognizes those lease payments in the Consolidated Statements of Income on a straight-line basis over the lease term. The Company elected to use a single discount rate for a portfolio of leases with reasonably similar characteristics. The most significant impact was the recognition of ROU assets and related lease liabilities for operating leases on the Consolidated Balance Sheet. The Company recognized ROU assets and related lease liabilities of $31,724 and $32,579 respectively, related to operating lease commitments, as of January 1, 2019. The operating lease ROU asset represents the lease liability, plus any lease payments made at or before the commencement date, less any lease incentives received. The amended guidance did not have a material impact on the Company's cash flows or results of operations. See Note 14 of the Consolidated Financial Statements. In May 2014, the FASB amended its guidance related to revenue recognition. The amended guidance established a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance, including industry-specific guidance. The amended guidance clarified that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the amended guidance, an entity (1) identifies the contract(s) with a customer; (2) identifies the performance obligations in the contract; (3) determines the transaction price; (4) allocates the transaction price to the contract’s performance obligations; and (5) recognizes revenue when (or as) the entity satisfies a performance obligation. The amended guidance applied to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. Entities had the option of using either a full retrospective or modified retrospective approach to the amended guidance. The Company adopted the amended guidance, Accounting Standard Codification 606, Revenue from Contracts with Customers (“ASC 606”), and related amendments, using the modified retrospective approach on January 1, 2018, at which time it became effective for the Company. The Company recognized the cumulative effect of initially applying the new revenue standard to all contracts that were not completed on the date of adoption as an adjustment to the opening balance of retained earnings. A majority of revenue continues to be recognized when products are shipped. Under the amended guidance, however, a certain portion of our businesses with customized products or contracts in which we perform work on customer-owned assets require the use of an "over time" recognition model as certain of these contracts meet one or more of the criteria established in the amended guidance. Revenue recognition on contracts requiring over time accounting recognition created unbilled receivables (contract assets) and reduced inventory on the Company’s Consolidated Balance Sheet. Adoption of the amended guidance also resulted in the recognition of customer advances for which the Company has received an unconditional right to payment. Since the related performance obligations have not been satisfied, however, the Company recognized these customer advances as trade receivables, with a corresponding contract liability of equal amount. Under the previous guidance, the Company recognized customer advances when payment was received. See Note 4 of the Consolidated Financial Statements. In August 2016, the FASB amended its guidance related to the Statement of Cash Flows. The amended guidance clarifies how certain cash receipts and cash payments should be presented on the statement of cash flows. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted the guidance during the first quarter of 2018 and the adoption did not have an impact on its Statement of Cash Flows. In January 2017, the FASB amended its guidance related to goodwill impairment testing. The amended guidance simplifies the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under the amended guidance, companies should perform their annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Companies would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The amended guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company elected to early adopt this amended guidance during the second quarter of 2018 in connection with its annual goodwill impairment testing and it did not have an impact on the Company's Consolidated Financial Statements. In March 2017, the FASB amended its guidance related to the presentation of pension and other postretirement benefit costs. The amended guidance requires the bifurcation of net periodic benefit cost for pension and other postretirement plans. The service cost component of expense requires presentation with other employee compensation costs in operating income, consistent with the earlier guidance. The other components of expense, however, are reported separately outside of operating income. The amended guidance also allows only the service cost component of net benefit cost to be eligible for capitalization. The guidance was effective for annual periods beginning after December 15, 2017 and interim periods within that reporting period. The Company adopted the amended guidance on a retrospective basis during the first quarter of 2018 and it did not have a material impact on its results of operations. See Note 12 of the Consolidated Financial Statements for additional disclosure related to pension and postretirement benefit costs. In February 2018, the FASB issued guidance related to the impacts of the tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Act”). The guidance permits the reclassification of certain income tax effects of the Act from Accumulated Other Comprehensive Income to Retained Earnings (stranded tax effects). The stranded tax effects resulted from the December 31, 2017 remeasurement of deferred income taxes that was recorded through the Consolidated Statements of Income, with no corresponding adjustment to Accumulated Other Comprehensive Income having been initially recognized. The guidance is effective for annual periods beginning after December 15, 2018, and interim periods within that reporting period. Early adoption is permitted. The Company elected to early adopt this amended guidance during the first quarter of 2018 using specific identification and as a result reclassified $19,331 from Accumulated Other Comprehensive Income to Retained Earnings on the Consolidated Balance Sheets. This reclassification relates only to the change in the U.S. Corporate income tax rate. In August 2018, the FASB issued new guidance related to a customer's accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by a vendor (for example, a service contract). Pursuant to the new guidance, customers apply the same criteria for capitalizing implementation costs in a hosting arrangement as they would for an arrangement that has a software license. The new guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period for which financial statements have not been issued. The FASB provided the option of applying the guidance retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company elected to early adopt this guidance, prospectively, during the third quarter of 2018, and it did not have a material impact on the Consolidated Financial Statements. In August 2017, the FASB amended its guidance related to hedge accounting. The amended guidance makes more financial and nonfinancial hedging strategies eligible for hedge accounting, amends presentation and disclosure requirements and changes the assessment of effectiveness. The guidance also more closely aligns hedge accounting with management strategies, simplifies application and increases the transparency of hedging. The amended guidance is effective January 1, 2019, with early adoption permitted in any interim period. The Company adopted the amended guidance on January 1, 2019 and it did not have a material impact on the Consolidated Financial Statements, however it did result in amendments to certain disclosures required pursuant to the earlier guidance. See Note 10 of the Consolidated Financial Statements. Recently Issued Accounting Standards In August 2018, the FASB amended its guidance related to disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amended requirements serve to remove, add and otherwise clarify certain existing disclosures. The amended guidance is effective for fiscal years ending after December 15, 2020. The guidance requires application on a retrospective basis to all periods presented. The Company is currently evaluating the impact that the guidance may have on the disclosures within its Consolidated Financial Statements.

Revenue

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

The Company is a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, serving a wide range of end markets and customers. Its specialized products and services are used in far-reaching applications including aerospace, transportation, manufacturing, automation, healthcare, and packaging. The Company accounts for revenue in accordance with ASC 606, which it adopted on January 1, 2018, using the modified retrospective approach. Note 3 of the Consolidated Financial Statements further discusses this adoption.

Revenue is recognized by the Company when control of the product or solution is transferred to the customer. Control is generally transferred when products are shipped or delivered to customers, title is transferred and the significant risks and rewards of ownership have transferred, and the Company has rights to payment and rewards of ownership pass to the customer. Customer acceptance may also be a factor in determining whether control of the product has transferred. Although revenue is generally transferred at a point in time, a certain portion of businesses with customized products or contracts in which the Company performs work on customer-owned assets requires the use of an over time recognition model as certain contracts meet one or more of the established criteria pursuant to ASC 606. Also, service revenue is recognized as control transfers, which is concurrent with the services being performed.

The following table presents the Company's revenue disaggregated by products and services, and geographic regions, by segment.



	Three months ended March 31,
	2019						2018
	Industrial		Aerospace		Total Company		Industrial		Aerospace		Total Company
Product and Services
Engineered Components Products	$	69,684	$	—	$	69,684	$	77,090	$	—	$	77,090
Molding Solutions Products	106,793		—		106,793		119,099		—		119,099
Force & Motion Control Products	51,617		—		51,617		49,772		—		49,772
Automation Products	14,408		—		14,408		—		—		—
Aerospace Original Equipment Manufacturer Products	—		87,939		87,939		—		80,695		80,695
Aerospace Aftermarket Products and Services	—		46,251		46,251		—		40,004		40,004
	$	242,502	$	134,190	$	376,692	$	245,961	$	120,699	$	366,660

Geographic Regions ^(A)
Americas	$	98,288	$	96,144	$	194,432	$	96,527	$	85,961	$	182,488
Europe	94,430		24,324		118,754		94,140		24,675		118,815
Asia	48,942		12,404		61,346		54,380		8,913		63,293
Other	842		1,318		2,160		914		1,150		2,064
	$	242,502	$	134,190	$	376,692	$	245,961	$	120,699	$	366,660

(A) Sales by geographic market are based on the location to which the product is shipped.

Revenue from goods and services transferred to customers at a point in time accounted for approximately 90 percent of revenue for the three-month periods ended March 31, 2019 and March 31, 2018. A majority of revenue within the Industrial segment and Aerospace OEM business is recognized at a point in time when the product or solution is shipped to the customer. A portion of revenue within the Aerospace Aftermarket business is also recognized when product is shipped.

Revenue from products and services transferred to customers over time accounted for approximately 10 percent of revenue for the three-month period ended March 31, 2019 and March 31, 2018. The Company recognizes revenue over time in instances where a contract supports a continual transfer of control to the customer. Substantially all of our revenue in the Aerospace maintenance repair and overhaul business and a portion of the Engineered Components Products, Molding Solutions Products and Aerospace OEM Products is recognized over time. Within the Molding Solution businesses and Aerospace Aftermarket business, this continual transfer of control to the customer results from repair and refurbishment work performed on customer controlled assets. With other contracts, this continual transfer of control to the customer is supported by clauses in the contract where we deliver products that do not have an alternative use and requires an enforceable right to payment of costs incurred (plus a reasonable profit) or the Company has a contractual right to complete any work in process and receive full contract price.

Performance Obligations. A performance obligation represents a promise within a contract to provide a distinct good or service to the customer. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. Transaction price reflects the amount of consideration which the Company expects to be entitled in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied.

The majority of our revenues are from contracts that are less than one year, however certain Aerospace OEM and Industrial Molding Solutions business contracts extend beyond one year. In the Industrial segment, customers are typically with OEMs or suppliers to OEMs and in some businesses, with distributors. In the Aerospace segment, customers include commercial airlines, OEMs and other aircraft and military parts providers.

To determine the proper revenue recognition method for contracts, the Company uses judgment to evaluate whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. Contracts within the Aerospace OEM and Engineered Components businesses typically have contracts that are combined as the customer may issue multiple purchase orders at or near the same point in time under the terms of a long term agreement.

Revenue is recognized in an over time model based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company utilizes the cost-to-cost measure of progress for over time contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts.

Contract Estimates. Due to the nature of the work performed in completing certain performance obligations, the estimation of both total revenue and cost at completion (the process described above) includes a number of variables and requires significant judgment.

Estimating total contract revenue may require judgment as certain contracts contain pricing discount structures, rebates, early payment discounts, or other provisions that can impact transaction price. The Company generally estimates variable consideration utilizing the expected value methodology as multiple inputs are considered and weighed, such as customer history, customer forecast communications, economic outlooks, and industry data. In certain circumstances where a particular outcome is probable, we utilize the most likely amount to which we expect to be entitled. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved.

Estimating the total expected costs related to contracts also requires significant judgment. The Aerospace OEM business has an Estimate at Completion (EAC) process in which management reviews the progress and execution of our performance obligations for significant contracts with revenue recognized under an over time model. As part of this process, management reviews information including, but not limited to, performance under the contract, progress towards completion, identified risks and opportunities, sourcing determinations and related changes in estimates of costs to be incurred. These considerations include management's judgment about the ability and cost to achieve technical requirements and other contract requirements. Management makes assumptions and estimates regarding labor efficiency, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), execution by our subcontractors and overhead cost rates, among other variables.

The Company generally utilizes the portfolio approach to estimate the amount of revenue to recognize for certain other contracts which require over time revenue recognition. Such contracts are grouped together either by revenue stream, customer or product. Each portfolio of contracts is grouped together based on having similar characteristics. The portfolio approach is utilized only when the result of the accounting is not expected to be materially different than if applied to individual contracts.

Adjustments to net sales, cost of sales and the related impact to operating income are recognized as necessary in the period they become known. Revenue recognized from performance obligations satisfied in previous periods was not material in the first three months of 2019 and 2018.

Contract Balances. The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets.

Unbilled Receivables (Contract Assets) - Pursuant to the over time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when 1) the cost-to-cost method is applied and 2) such revenue exceeds the amount invoiced to the customer. Unbilled receivables are included within prepaid expenses and other current assets on the Consolidated Balance Sheet as of March 31, 2019 and March 31, 2018.

Customer Advances and Deposits (Contract Liabilities) - The Company may receive a customer advance or deposit, or have an unconditional right to receive a customer advance, prior to revenue being recognized. Certain contracts within the Molding Solutions businesses, for example, may require such advances. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. An offsetting asset of equal amount is recorded as an account receivable until the advance is collected. Advances and deposits are included within accrued liabilities on the Consolidated Balance Sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as they are generally received less than one year before the customer solution is completed.

These assets and liabilities are reported on the Consolidated Balance Sheet on an individual contract basis at the end of each reporting period.

Net contract assets (liabilities) consisted of the following:



	March 31, 2019			December 31, 2018			$ Change		% Change
Unbilled receivables (contract assets)	$	17,501		$	11,844		$	5,657	48	%
Contract liabilities	(56,606		)	(57,522		)	916		(2	)%
Net contract liabilities	$	(39,105	)	$	(45,678	)	$	6,573	(14	)%

Contract liabilities balances at March 31, 2019 and December 31, 2018 include $14,243 and $15,348 respectively, of customer advances for which the Company has an unconditional right to collect payment. Accounts receivable, as presented on the Consolidated Balance Sheet, includes corresponding balances at March 31, 2019 and December 31, 2018, respectively.

Changes in the net contract liabilities balance during the three-month period ended March 31, 2019 were impacted by a $916 net decrease in contract liabilities, driven primarily by revenue recognized in the current period, partially offset by new customer advances and deposits. Adding to the contract liability decrease was a $5,657 net increase in contract assets, driven primarily by contract progress (i.e. unbilled receivable), partially offset by earlier contract progress being invoiced to the customer.

The Company recognized approximately 35% of the revenue related to the contract liability balance as of December 31, 2018 during the three-month period ended March 31, 2019, primarily representing revenue from the sale of molds and hot runners within the Molding Solutions businesses.

Contract Costs. The Company may incur costs to fulfill a contract. Costs are incurred to develop, design and manufacture tooling to produce a customer’s customized product in conjunction with certain of its contracts, primarily in the Aerospace OEM business. For certain contracts, control related to this tooling remains with the Company. The tooling may be deemed recoverable over the life of the related customer contract (oftentimes a long-term agreement). The Company therefore capitalizes these tooling costs and amortizes them over the shorter of the tooling life or the duration of the long-term agreement. The Company may also incur costs related to the development of product designs (molds or hot runner systems) within its Molding Solutions businesses. Control of the design may be retained by the Company and deemed recoverable over the contract to build the systems or mold, therefore this design work cost is capitalized and amortized to cost of sales when the related revenue is recognized. Amortization related to these capitalized costs to fulfill a contract were $3,434 and $3,986 in the three month periods ended March 31, 2019 and March 31, 2018, respectively.

Capitalized costs, net of amortization, to fulfill a contract balances were as follows:



	March 31, 2019		December 31, 2018
Tooling	$	6,058	$	6,155
Design costs	2,281		2,285
Other	—		5
	$	8,339	$	8,445

Remaining Performance Obligations. The Company has elected to disclose remaining performance obligations only for contracts with an original duration of greater than one year. Such remaining performance obligations represent the transaction price of firm orders for which work has not been performed and, for Aerospace, excludes projections of components and assemblies that Aerospace OEM customers anticipate purchasing in the future under existing programs, which represent orders that are beyond lead time and do not represent performance obligations pursuant to ASC 606. As of March 31, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was $228,536. The Company expects to recognize revenue on approximately 80% of the remaining performance obligations over the next 12 months, with the remainder being recognized within 24 months.

Stockholders Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders Equity

A schedule of consolidated changes in equity for the three months ended March 31, 2019 is as follows (shares in thousands):



	Common Stock (Number of Shares)	Common Stock (Amount)		Additional Paid-In Capital		Treasury Stock (Number of Shares)	Treasury Stock (Amount)			Retained Earnings			Accumulated Other Non-Owner Changes to Equity			Total Stockholders’ Equity
December 31, 2018	63,367	$	634	$	470,818	12,034	$	(441,668	)	$	1,363,772		$	(190,500	)	$	1,203,056
Comprehensive income										33,992			(8,178		)	25,814
Dividends declared ($0.16 per share)										(8,217		)				(8,217		)
Employee stock plans	51			4,039		1	(80		)	(109		)				3,850
March 31, 2019	63,418	$	634	$	474,857	12,035	$	(441,748	)	$	1,389,438		$	(198,678	)	$	1,224,503

A schedule of consolidated changes in equity for the three months ended March 31, 2018 is as follows (shares in thousands):



	Common Stock (Number of Shares)	Common Stock (Amount)		Additional Paid-In Capital		Treasury Stock (Number of Shares)	Treasury Stock (Amount)			Retained Earnings			Accumulated Other Non-Owner Changes to Equity			Total Stockholders’ Equity
December 31, 2017	63,034	$	630	$	457,365	9,656	$	(297,998	)	$	1,206,723		$	(106,399	)	$	1,260,321
Comprehensive income										38,818			30,513			69,331
Dividends declared ($0.14 per share)										(7,453		)				(7,453		)
Common stock repurchases						533	(33,541		)							(33,541		)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)										19,331			(19,331		)	—
Cumulative effect of change in accounting guidance related to Revenue (Note 3)										4,295						4,295
Employee stock plans	20	1		2,874		1	(68		)	(174		)				2,633
March 31, 2018	63,054	$	631	$	460,239	10,190	$	(331,607	)	$	1,261,540		$	(95,217	)	$	1,295,586

Net Income Per Common Share	3 Months Ended
Net Income Per Common Share	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share For the purpose of computing diluted net income per common share, the weighted-average number of common shares outstanding is increased for the potential dilutive effects of stock-based incentive plans. For the purpose of computing diluted net income per common share, the weighted-average number of common shares outstanding was increased by 528,661 and 553,903 for the three-month periods ended March 31, 2019 and 2018, respectively, to account for the potential dilutive effect of stock-based incentive plans. There were no adjustments to net income for the purposes of computing income available to common stockholders for the periods. The calculation of weighted-average diluted shares outstanding excludes all shares that would have been anti-dilutive. During the three-month periods ended March 31, 2019 and 2018, the Company excluded 221,201 and 153,908 stock awards, respectively, from the calculation of weighted-average diluted shares outstanding as the stock awards were considered anti-dilutive. The Company granted 120,585 stock options, 93,992 restricted stock unit awards and 88,402 performance share awards ("PSAs") in February 2019 as part of its annual grant awards. All of the stock options and the restricted stock unit awards vest upon meeting certain service conditions. The restricted stock unit awards are included in basic weighted-average common shares outstanding as they contain nonforfeitable rights to dividend payments. The PSAs are part of the long-term Performance Share Award Program (the "Awards Program") and are based on performance goals that are driven by a combination of independently measured metrics (depending on the grant year) with each metric being weighted equally. The metrics for awards granted in 2019 include the Company’s total shareholder return (“TSR”), return on invested capital (“ROIC”) and operating income before depreciation and amortization growth ("EBITDA growth"). The TSR and EBITDA growth metrics are designed to assess the long-term Company performance relative to the performance of companies included in the Russell 2000 Index over a three-year performance period. ROIC is designed to assess the Company's performance compared to pre-established Company targets over a three-year performance period. The participants can earn from zero to 250% of the target award and the award includes a forfeitable right to dividend equivalents, which are not included in the aggregate target award numbers. The fair value of the TSR portion of the PSA was determined using a Monte Carlo valuation method as the award contains a market condition.

Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

The components of inventories consisted of:



	March 31, 2019		December 31, 2018
Finished goods	$	84,965	$	87,779
Work-in-process	96,146		98,426
Raw material and supplies	76,138		79,785
	$	257,249	$	265,990

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill:

The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company as of and for the period ended March 31, 2019:



	Industrial			Aerospace		Total Company
January 1, 2019	$	924,738		$	30,786	$	955,524
Acquisition related	681			—		681
Foreign currency translation	(11,396		)	—		(11,396		)
March 31, 2019	$	914,023		$	30,786	$	944,809

Other Intangible Assets:

Other intangible assets consisted of:



		March 31, 2019						December 31, 2018
	Range of Life - Years	Gross Amount			Accumulated Amortization			Gross Amount			Accumulated Amortization
Amortized intangible assets:
Revenue sharing programs (RSPs)	Up to 30	$	299,500		$	(125,533	)	$	299,500		$	(121,957	)
Component repair programs (CRPs)	Up to 30	111,839			(23,404		)	111,839			(21,895		)
Customer relationships	10-16	338,366			(84,496		)	338,366			(79,439		)
Patents and technology	4-14	125,852			(62,600		)	125,852			(59,205		)
Trademarks/trade names	10-30	11,950			(10,830		)	11,950			(10,731		)
Other	Up to 15	7,296			(3,662		)	7,296			(3,551		)
		894,803			(310,525		)	894,803			(296,778		)
Unamortized intangible assets:
Trade names		55,670			—			55,670			—
Foreign currency translation		(22,386		)	—			(17,157		)	—
Other intangible assets		$	928,087		$	(310,525	)	$	933,316		$	(296,778	)

Estimated amortization of intangible assets for future periods is as follows: 2019 - $53,000; 2020 - $50,000; 2021 - $49,000; 2022 - $49,000 and 2023 - $48,000.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

The Company's debt agreements contain financial covenants that require the maintenance of interest coverage and leverage ratios. The Company is in compliance with its financial covenants as of March 31, 2019, and continues to monitor its future compliance based on current and anticipated future economic conditions.

Long-term debt and notes and overdrafts payable at March 31, 2019 and December 31, 2018 consisted of:



	March 31, 2019					December 31, 2018
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
Revolving credit agreement	$	772,737		$	788,492	$	831,016		$	828,800
3.97% Senior Notes	100,000			102,504		100,000			100,185
Borrowings under lines of credit and overdrafts	23,051			23,051		2,137			2,137
Capital leases	9,400			9,563		10,216			10,503
Other foreign bank borrowings	634			638		647			651
	905,822			924,248		944,016			942,276
Less current maturities	(28,282		)			(7,659		)
Long-term debt	$	877,540				$	936,357

In February 2017, the Company and certain of its subsidiaries entered into the fourth amendment of its fifth amended and restated revolving credit agreement (the “Amended Credit Agreement”) and retained Bank of America, N.A as the Administrative Agent for the lenders. The Amended Credit Agreement increases the facility from $750,000 to $850,000 and extends the maturity date from September 2018 to February 2022. The Amended Credit Agreement also increases the existing

accordion feature from $250,000, allowing the Company to now request additional borrowings of up to $350,000. The Company may exercise the accordion feature upon request to the Administrative Agent as long as an event of default has not occurred or is not continuing. The borrowing availability of $850,000, pursuant to the terms of the Amended Credit Agreement, allows for multi-currency borrowing which includes euro, British pound sterling or Swiss franc borrowing, up to $600,000. In September 2018, the Company and one of its wholly owned subsidiaries entered into a Sale and Purchase Agreement to acquire Gimatic S.r.l. See Note 2 of the Consolidated Financial Statements. In conjunction with the Acquisition, the Company requested additional borrowings of $150,000 that was provided for under the existing accordion feature. The Administrative Agent for the lenders approved the Company's access to the accordion feature and on October 19, 2018 the lenders formally committed the capital to fund such feature, resulting in the execution of the fifth amendment to the Amended Credit Agreement (the "Fifth Amendment"). The Fifth Amendment, effective October 19, 2018, thereby increased the borrowing availability of the existing facility to $1,000,000. The Company may also request access to the residual $200,000 of the accordion feature. Depending on the Company’s consolidated leverage ratio, and at the election of the Company, borrowings under the Amended Credit Agreement will bear interest at either LIBOR plus a margin of between 1.10% and 1.70% or the base rate, as defined in the Amended Credit Agreement, plus a margin of 0.10% to 0.70%. Multi-currency borrowings, pursuant to the Amended Credit Agreement, bear interest at their respective interbank offered rate (i.e. Euribor) or 0.00% (higher of the two rates) plus a margin of between 1.10% and 1.70%. The Company paid fees and expenses of $529 in the fourth quarter of 2018 in conjunction with executing the Fifth Amendment; such fees have been deferred within Other Assets on the accompanying Consolidated Balance Sheets and are being amortized into interest expense on the accompanying Consolidated Statements of Income through its maturity.

Borrowings and availability under the Amended Credit Agreement were $772,737 and $227,263, respectively, at March 31, 2019 and $831,016 and $168,984, respectively, at December 31, 2018. The average interest rate on these borrowings was 1.82% and 1.99% on March 31, 2019 and December 31, 2018, respectively. Borrowings included Euro-denominated borrowings of 490,080 Euros ($550,237) at March 31, 2019 and 470,350 Euros ($538,316) at December 31, 2018. The fair value of the borrowings is based on observable Level 2 inputs. The borrowings were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings. In the first quarter of 2019, and the second quarter of 2018, the Company borrowed 44,100 Euros ($49,506) and 179,000 Euros ($208,589), respectively, under the Amended Credit Facility through an international subsidiary. The proceeds were distributed to the Parent Company and subsequently used to pay down U.S. borrowings under the Amended Credit Agreement.

In October 2014, the Company entered into a Note Purchase Agreement (“Note Purchase Agreement”), among the Company and New York Life Insurance Company, New York Life Insurance and Annuity Corporation and New York Life Insurance and Annuity Corporation Institutionally Owned Life Insurance Separate Account, as purchasers, for the issuance of $100,000 aggregate principal amount of 3.97% Senior Notes due October 17, 2024 (the “3.97% Senior Notes”).

The 3.97% Senior Notes are senior unsecured obligations of the Company and pay interest semi-annually on April 17 and October 17 of each year at an annual rate of 3.97%. The 3.97% Senior Notes will mature on October 17, 2024 unless earlier prepaid in accordance with their terms. Subject to certain conditions, the Company may, at its option, prepay all or any part of the 3.97% Senior Notes in an amount equal to 100% of the principal amount of the 3.97% Senior Notes so prepaid, plus any accrued and unpaid interest to the date of prepayment, plus the Make-Whole Amount, as defined in the Note Purchase Agreement, with respect to such principal amount being prepaid. The fair value of the 3.97% Senior Notes was determined using the US Treasury yield and a long-term credit spread for similar types of borrowings, which represent Level 2 observable inputs.

The Company's borrowing capacity remains limited by various debt covenants in the Amended Credit Agreement and the Note Purchase Agreement (the "Agreements"). The Agreements require the Company to maintain a ratio of Consolidated Senior Debt, as defined, to Consolidated EBITDA, as defined, of not more than 3.25 times ("Senior Debt Ratio"), a ratio of Consolidated Total Debt, as defined, to Consolidated EBITDA of not more than 3.75 times ("Total Debt Ratio") and a ratio of Consolidated EBITDA to Consolidated Cash Interest Expense, as defined, of not less than 4.25, in each case at the end of each fiscal quarter; provided that the debt to EBITDA ratios are permitted to increase for a period of four fiscal quarters after the closing of certain permitted acquisitions. A permitted acquisition is defined as an acquisition exceeding $150,000, for which the acquisition of Gimatic qualifies. With the completion of a permitted acquisition, the Senior Debt Ratio cannot exceed 3.50 times and the Total Debt Ratio cannot exceed 4.25 times. The increased ratios are allowed for a period of four fiscal quarters subsequent to the close of the permitted acquisition.

In addition, the Company has available approximately $87,000 in uncommitted short-term bank credit lines ("Credit Lines") and overdraft facilities. The Credit Lines are accessed locally and are available primarily within the U.S., Europe and Asia. The Credit Lines are subject to the applicable borrowing rates within each respective country and vary between jurisdictions (i.e. LIBOR, Euribor, etc.). Under the Credit Lines, $23,000 was borrowed at March 31, 2019 at an interest rate of 3.21% and $2,041 was borrowed at December 31, 2018 at an average interest rate of 0.17%. The Company had also borrowed $51 and $96 under the overdraft facilities at March 31, 2019 and December 31, 2018, respectively. Repayments under the Credit Lines are due within one month after being borrowed. Repayments of the overdrafts are generally due within two days after being borrowed. The carrying amounts of the Credit Lines and overdrafts approximate fair value due to the short maturities of these financial instruments.

The Company has several capital leases under which $9,400 and $10,216 was outstanding at March 31, 2019 and December 31, 2018, respectively. The fair value of the capital leases are based on observable Level 2 inputs. These instruments were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings.

At March 31, 2019 and December 31, 2018, the Company also had other foreign bank borrowings of $634 and $647, respectively. The fair value of the other foreign bank borrowings is based on observable Level 2 inputs. These instruments were valued using discounted cash flows based upon the Company's estimated interest costs for similar types of borrowings.

Derivatives

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

The Company has manufacturing and sales facilities around the world and thus makes investments and conducts business transactions denominated in various currencies. The Company is also exposed to fluctuations in interest rates and commodity price changes. These financial exposures are monitored and managed by the Company as an integral part of its risk management program.

Financial instruments have been used by the Company to hedge its exposure to fluctuations in interest rates. The Company entered into an interest rate swap agreement (the "Swap") on April 28, 2017, with one bank, which converts the interest on the first $100,000 of the Company's one-month LIBOR-based borrowings from a variable rate plus the borrowing spread to a fixed rate of 1.92% plus the borrowing spread. The Swap expires on January 31, 2022 and is accounted for as a cash flow hedge.

The Company also uses financial instruments to hedge its exposures to fluctuations in foreign currency exchange rates. The Company has various contracts outstanding which primarily hedge recognized assets or liabilities and anticipated transactions in various currencies including the Euro, British pound sterling, U.S. dollar, Canadian dollar, Japanese yen, Singapore dollar, Korean won, Swedish kroner, Chinese renminbi and Swiss franc. Certain foreign currency derivative instruments are treated as cash flow hedges of forecasted transactions. All foreign exchange contracts are due within two years.

The Company does not use derivatives for speculative or trading purposes or to manage commodity exposures. Changes in the fair market value of derivatives that qualify as cash flow hedges are recorded to accumulated other non-owner changes to equity. Amounts recorded to accumulated other non-owner changes to equity are reclassified to earnings in a manner that matches the earnings impact of the hedged transaction. Amounts related to contracts that are not designated as hedges are recorded directly to earnings.

The Company's policy for classifying cash flows from derivatives is to report the cash flows consistent with the underlying hedged item. Other financing cash flows during the first three months of 2019 and 2018, as presented on the Consolidated Statements of Cash Flows, include $1,299 and $6,505, respectively, of net cash payments related to the settlement of foreign currency hedges related to intercompany financing.

The following table sets forth the fair value amounts of derivative instruments held by the Company.



	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
	Balance Sheet Location	March 31, 2019		December 31, 2018		Balance Sheet Location	March 31, 2019			December 31, 2018
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	773	$	1,412	Other liabilities	$	—		$	—
Foreign exchange contracts	Prepaid expenses and other current assets	—		—		Accrued liabilities	(361		)	(258		)
Total derivatives designated as hedging instruments		773		1,412			(361		)	(258		)

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Prepaid expenses and other current assets	20		1,105		Accrued liabilities	(949		)	(90		)
Total derivatives not designated as hedging instruments		20		1,105			(949		)	(90		)

Total derivatives		$	793	$	2,517		$	(1,310	)	$	(348	)

The following table sets forth the effect of hedge accounting on accumulated other comprehensive (loss) income for the three-month periods ended March 31, 2019 and 2018:



	Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative						Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
	Three months ended March 31,							Three months ended March 31,
Derivatives in Hedging Relationships	2019			2018				2019			2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts	$	(487	)	$	1,235		Interest expense	$	142		$	(82	)
Foreign exchange contracts	(81		)	(839		)	Net sales	(337		)	(226		)
Total	$	(568	)	$	396			$	(195	)	$	(308	)

The following table sets forth the effect of hedge accounting on the consolidated statements of income for the three-month periods ended March 31, 2019 and 2018:



	Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
	Three months ended March 31,
	2019					2018
	Net sales			Interest expense		Net sales			Interest expense
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded	$	376,692		$	5,113	$	366,660		$	3,892
The effects of hedging:
Gain (Loss) on cash flow hedging relationships
Interest rate contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income				142					(82		)
Foreign exchange contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income	(337		)			(226		)

The following table sets forth the effect of derivatives not designated as hedging instruments on the consolidated statements of income for the three-month periods ended March 31, 2019 and 2018.



	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative^(A)
		Three months ended March 31,
Derivatives Not Designated as Hedging Instruments		2019			2018
Foreign exchange contracts	Other expense (income), net	$	(3,819	)	$	(6,092	)

(A) Such amounts were substantially offset by the net (gain) loss recorded on the underlying hedged asset or liability, also recorded in other expense (income), net.

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

The provisions of the accounting standard for fair value define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This standard classifies the inputs used to measure fair value into the following hierarchy:


Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities.


Level 2	Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.


Level 3	Unobservable inputs for the asset or liability.

The following table provides the assets and liabilities reported at fair value and measured on a recurring basis:



				Fair Value Measurements Using
Description	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
March 31, 2019
Asset derivatives	$	793		$	—	$	793		$	—
Liability derivatives	(1,310		)	—		(1,310		)	—
Bank acceptances	10,212			—		10,212			—
Rabbi trust assets	2,704			2,704		—			—
	$	12,399		$	2,704	$	9,695		$	—

December 31, 2018
Asset derivatives	$	2,517		$	—	$	2,517		$	—
Liability derivatives	(348		)	—		(348		)	—
Bank acceptances	17,698			—		17,698			—
Rabbi trust assets	2,457			2,457		—			—
	$	22,324		$	2,457	$	19,867		$	—

The derivative contracts are valued using observable current market information as of the reporting date such as the prevailing LIBOR-based interest rates and foreign currency spot and forward rates. Bank acceptances represent financial instruments accepted from certain Chinese customers in lieu of cash paid on receivables, generally range from three to six months in maturity and are guaranteed by banks. The carrying amounts of the bank acceptances, which are included within prepaid expenses and other current assets, approximate fair value due to their short maturities. The fair values of rabbi trust assets are based on quoted market prices from various financial exchanges.

- 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

Pension and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Pension and other postretirement benefits expenses consisted of the following:



	Three months ended March 31,
Pensions	2019			2018
Service cost	$	1,433		$	1,590
Interest cost	4,536			4,309
Expected return on plan assets	(7,078		)	(7,394		)
Amortization of prior service cost	103			141
Amortization of actuarial losses	2,158			2,811
Net periodic benefit cost	$	1,152		$	1,457



	Three months ended March 31,
Other Postretirement Benefits	2019		2018
Service cost	$	19	$	24
Interest cost	340		344
Amortization of prior service cost	6		5
Amortization of actuarial losses	10		160
Net periodic benefit cost	$	375	$	533

The service cost component of net periodic benefit cost is included within cost of sales and selling and administrative expenses. The components of net periodic benefit cost other than the service cost component are included in Other Income (Expense) on the Consolidated Statements of Income.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate for the first quarter of 2019 was 22.3% compared with 23.9% in the first quarter of 2018 and 19.9% for the full year 2018. The increase in the first quarter of 2019 effective tax rate from the full year 2018 rate is primarily due to the absence of adjustments to certain international valuation reserves and final adjustments resulting from the impact of the Tax Cuts and Jobs Act (the “Act”), combined with a decrease in the excess tax benefit on stock awards. The increase is partially offset by the projected change in the mix of earnings attributable to lower-taxing jurisdictions. The Aerospace and Industrial Segments have a number of multi-year tax holidays in both Singapore and China. These holidays are subject to the Company meeting certain commitments in the respective jurisdictions.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

The Company maintains leases of certain manufacturing, distribution and assembly facilities, office space, land, machinery and equipment. Leases generally have remaining terms of one year to ten years, whereas leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets. The Company recognizes lease expense for minimum lease payments on a straight line basis over the term of the lease. Certain leases include options to renew or terminate. Renewal options are exercisable per the discretion of the Company and vary based on the nature of each lease, with renewal periods generally ranging from one year to five years. The term of the lease includes renewal periods only if the Company is reasonably certain that it will exercise the renewal option. When determining if a renewal option is reasonably certain of being exercised, the Company considers several factors, including but not limited to, the cost of moving to another location, the cost of disruption to operations, whether the purpose or location of the leased asset is unique and the contractual terms associated with extending the lease.

Certain leases provide the option to purchase the leased property and are therefore evaluated for finance lease consideration. Right-of-use ("ROU") assets and lease liabilities related to finance leases were not material as of March 31, 2019. The depreciable life of leased assets are limited by the expected term of the lease, unless there is a transfer of title or purchase option and the Company believes it is reasonably certain of exercise.

Lease agreements generally do not contain any material residual value guarantees or materially restrictive covenants and the Company does not sublease to any third parties. The Company does not have any material leases that have been signed but not commenced.

Contracts are evaluated at inception to determine whether they contain a lease, where the Company obtains the right to control an identified asset. The following table sets forth the classification of ROU assets and lease liabilities on the Consolidated Balance Sheets:




Operating Leases	Classification	March 31, 2019
Leased Assets
ROU assets	Other assets	$	33,316

Lease Liabilities
Current lease liability	Accrued liabilities	10,689
Long term lease liability	Other liabilities	23,470
		$	34,159

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The operating lease ROU assets represent the lease liability, plus any lease payments made at or before the commencement date, less any lease incentives received. The Company's real estate leases, which are comprised primarily of manufacturing, distribution and assembly facilities, represent a majority of our lease liability. A significant portion of our lease payments are fixed, although an immaterial portion of payments are variable in nature. Variable lease payments vary based on changes in facts and circumstances related to the use of the ROU and are recorded as incurred. The Company uses an incremental borrowing rate based on rates available at commencement in determining the present value of future payments.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component. The Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities.

Operating lease costs during the three months ended March 31, 2019 were $3,943 and were included within cost of sales and selling and administrative expenses. Operating lease costs include short-term and variable leases costs, which were immaterial during the period.

Future minimum lease payments under non-cancellable leases as of March 31, 2019 were as follows:




	Operating Leases
2019	$	9,266
2020	9,582
2021	6,995
2022	3,251
2023	2,453
After 2023	7,688
Total lease payments	$	39,235
Less: Interest	5,076
Present value of lease payments	$	34,159

Minimum rental commitments under non-cancellable leases as of December 31, 2018 for years 2019 through 2023 were $11,931, $8,322, $5,888, $2,898 and $2,064, respectively, and $7,659 thereafter.




Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.2
Weighted-average discount rate
Operating leases	3.97	%




Other Information	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,363
Leased assets obtained in exchange for new operating lease liabilities	$	4,563

Changes in Accumulated Other Comprehensive Income (Loss) by Component

3 Months Ended

Mar. 31, 2019

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

Changes in Accumulated Other Comprehensive Income (Loss) by Component

The following tables sets forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the three-month periods ended March 31, 2019 and 2018:



	Gains and Losses on Cash Flow Hedges			Pension and Other Postretirement Benefit Items			Foreign Currency Items			Total
January 1, 2019	$	834		$	(138,690	)	$	(52,644	)	$	(190,500	)
Other comprehensive (loss) income before reclassifications	(723		)	(122		)	(9,225		)	(10,070		)
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	155			1,737			—			1,892
Net current-period other comprehensive income	(568		)	1,615			(9,225		)	(8,178		)
March 31, 2019	$	266		$	(137,075	)	$	(61,869	)	$	(198,678	)



	Gains and Losses on Cash Flow Hedges		Pension and Other Postretirement Benefit Items			Foreign Currency Items			Total
January 1, 2018	$	72	$	(103,844	)	$	(2,627	)	$	(106,399	)
Other comprehensive income before reclassifications	157		763			26,953			27,873
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	239		2,401			—			2,640
Net current-period other comprehensive income	396		3,164			26,953			30,513
Amounts reclassified from accumulated other comprehensive income to retained earnings (A)	—		(19,331		)	—			(19,331		)
March 31, 2018	$	468	$	(120,011	)	$	24,326		$	(95,217	)

(A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 3 of the Consolidated Financial Statements.

The following table sets forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three-month periods ended March 31, 2019 and 2018:



Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)						Affected Line Item in the Consolidated Statements of Income
	Three months ended March 31, 2019			Three months ended March 31, 2018
Gains and losses on cash flow hedges
Interest rate contracts	$	142		$	(82	)	Interest expense
Foreign exchange contracts	(337		)	(226		)	Net sales
	(195		)	(308		)	Total before tax
	40			69			Tax benefit
	(155		)	(239		)	Net of tax

Pension and other postretirement benefit items
Amortization of prior-service costs	$	(109	)	$	(146	)	(A)
Amortization of actuarial losses	(2,168		)	(2,971		)	(A)
	(2,277		)	(3,117		)	Total before tax
	540			716			Tax benefit
	(1,737		)	(2,401		)	Net of tax

Total reclassifications in the period	$	(1,892	)	$	(2,640	)

(A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12 of the Consolidated Financial Statements.

Information on Business Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Information on Business Segments

The Company is organized based upon the nature of its products and services and reports under two global business segments: Industrial and Aerospace. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The Company has not aggregated operating segments for purposes of identifying these two reportable segments.

Industrial is a global provider of highly-engineered, high-quality precision components, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices. Focused on innovative custom solutions, Industrial participates in the design phase of components and assemblies whereby customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Products are sold primarily through its direct sales force and global distribution channels. Industrial's Molding Solutions business designs and manufactures customized hot runner systems, advanced mold cavity sensors and process control systems, and precision high cavitation mold assemblies - collectively, the enabling technologies for many complex injection molding applications. The Force & Motion Control business provides innovative cost effective force and motion control solutions for a wide range of metal forming and other industrial markets. The Automation business designs and develops robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components for intelligent robotic handling solutions and industrial automation applications. Industrial's Engineered Components business manufactures and supplies precision mechanical products used in transportation and industrial applications, including mechanical springs, high-precision punched and fine-blanked components and retention rings.

Aerospace is a global manufacturer of complex fabricated and precision machined components and assemblies for turbine engines, nacelles and structures for both commercial and military aircraft. The Aerospace aftermarket business provides aircraft engine component MRO services, including services performed under our Component Repair Programs (“CRPs”), for many of the world’s major turbine engine manufacturers, commercial airlines and the military. The Aerospace aftermarket activities also include the manufacture and delivery of aerospace aftermarket spare parts, including revenue sharing programs (“RSPs”) under which the Company receives an exclusive right to supply designated aftermarket parts over the life of specific aircraft engine programs.

The following tables set forth information about the Company's operations by its two reportable segments:



	Three months ended March 31,
	2019		2018
Net sales
Industrial	$	242,502	$	245,967
Aerospace	134,190		120,699
Intersegment sales	—		(6		)
Total net sales	$	376,692	$	366,660

Operating profit
Industrial	$	21,502	$	32,378
Aerospace	29,147		24,255
Total operating profit	50,649		56,633
Interest expense	5,113		3,892
Other expense (income), net	1,806		1,763
Income before income taxes	$	43,730	$	50,978



	March 31, 2019		December 31, 2018
Assets
Industrial	$	1,934,014	$	1,962,362
Aerospace	706,633		692,584
Other ^(A)	159,028		154,024
Total assets	$	2,799,675	$	2,808,970

(A) "Other" assets include corporate-controlled assets, the majority of which are cash and cash equivalents.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties The Company provides product warranties in connection with the sale of certain products. From time to time, the Company is subject to customer claims with respect to product warranties. The Company accrues its estimated exposure for warranty claims at the time of sale based upon the length of the warranty period, historical experience and other related information known to the Company. Liabilities related to product warranties and extended warranties were not material as of March 31, 2019 and December 31, 2018. Litigation The Company is subject to litigation from time to time in the ordinary course of business and various other suits, proceedings and claims are pending involving the Company and its subsidiaries. The Company records a loss contingency liability when a loss is considered probable and the amount can be reasonably estimated. While it is not possible to determine the ultimate disposition of each of these proceedings and whether they will be resolved consistent with the Company's beliefs, the Company expects that the outcome of such proceedings, individually or in the aggregate, will not have a material adverse effect on financial condition or results of operations.

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Pro Forma Information

The pro forma information does not include the effects of any synergies or cost reduction initiatives related to the acquisitions.



	(Unaudited Pro Forma)
	Three Months Ended March 31, 2018
Net Sales	$	386,562
Net Income	37,294

Revenue (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Capitalized Contract Cost

Capitalized costs, net of amortization, to fulfill a contract balances were as follows:



	March 31, 2019		December 31, 2018
Tooling	$	6,058	$	6,155
Design costs	2,281		2,285
Other	—		5
	$	8,339	$	8,445

Disaggregation of Revenue

The following table presents the Company's revenue disaggregated by products and services, and geographic regions, by segment.



	Three months ended March 31,
	2019						2018
	Industrial		Aerospace		Total Company		Industrial		Aerospace		Total Company
Product and Services
Engineered Components Products	$	69,684	$	—	$	69,684	$	77,090	$	—	$	77,090
Molding Solutions Products	106,793		—		106,793		119,099		—		119,099
Force & Motion Control Products	51,617		—		51,617		49,772		—		49,772
Automation Products	14,408		—		14,408		—		—		—
Aerospace Original Equipment Manufacturer Products	—		87,939		87,939		—		80,695		80,695
Aerospace Aftermarket Products and Services	—		46,251		46,251		—		40,004		40,004
	$	242,502	$	134,190	$	376,692	$	245,961	$	120,699	$	366,660

Geographic Regions ^(A)
Americas	$	98,288	$	96,144	$	194,432	$	96,527	$	85,961	$	182,488
Europe	94,430		24,324		118,754		94,140		24,675		118,815
Asia	48,942		12,404		61,346		54,380		8,913		63,293
Other	842		1,318		2,160		914		1,150		2,064
	$	242,502	$	134,190	$	376,692	$	245,961	$	120,699	$	366,660

(A) Sales by geographic market are based on the location to which the product is shipped.

Contract with Customer, Asset and Liability

Net contract assets (liabilities) consisted of the following:



	March 31, 2019			December 31, 2018			$ Change		% Change
Unbilled receivables (contract assets)	$	17,501		$	11,844		$	5,657	48	%
Contract liabilities	(56,606		)	(57,522		)	916		(2	)%
Net contract liabilities	$	(39,105	)	$	(45,678	)	$	6,573	(14	)%

Stockholders Equity (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Schedule of changes in equity

A schedule of consolidated changes in equity for the three months ended March 31, 2019 is as follows (shares in thousands):



	Common Stock (Number of Shares)	Common Stock (Amount)		Additional Paid-In Capital		Treasury Stock (Number of Shares)	Treasury Stock (Amount)			Retained Earnings			Accumulated Other Non-Owner Changes to Equity			Total Stockholders’ Equity
December 31, 2018	63,367	$	634	$	470,818	12,034	$	(441,668	)	$	1,363,772		$	(190,500	)	$	1,203,056
Comprehensive income										33,992			(8,178		)	25,814
Dividends declared ($0.16 per share)										(8,217		)				(8,217		)
Employee stock plans	51			4,039		1	(80		)	(109		)				3,850
March 31, 2019	63,418	$	634	$	474,857	12,035	$	(441,748	)	$	1,389,438		$	(198,678	)	$	1,224,503

A schedule of consolidated changes in equity for the three months ended March 31, 2018 is as follows (shares in thousands):



	Common Stock (Number of Shares)	Common Stock (Amount)		Additional Paid-In Capital		Treasury Stock (Number of Shares)	Treasury Stock (Amount)			Retained Earnings			Accumulated Other Non-Owner Changes to Equity			Total Stockholders’ Equity
December 31, 2017	63,034	$	630	$	457,365	9,656	$	(297,998	)	$	1,206,723		$	(106,399	)	$	1,260,321
Comprehensive income										38,818			30,513			69,331
Dividends declared ($0.14 per share)										(7,453		)				(7,453		)
Common stock repurchases						533	(33,541		)							(33,541		)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)										19,331			(19,331		)	—
Cumulative effect of change in accounting guidance related to Revenue (Note 3)										4,295						4,295
Employee stock plans	20	1		2,874		1	(68		)	(174		)				2,633
March 31, 2018	63,054	$	631	$	460,239	10,190	$	(331,607	)	$	1,261,540		$	(95,217	)	$	1,295,586

Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory

The components of inventories consisted of:



	March 31, 2019		December 31, 2018
Finished goods	$	84,965	$	87,779
Work-in-process	96,146		98,426
Raw material and supplies	76,138		79,785
	$	257,249	$	265,990

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company as of and for the period ended March 31, 2019:



	Industrial			Aerospace		Total Company
January 1, 2019	$	924,738		$	30,786	$	955,524
Acquisition related	681			—		681
Foreign currency translation	(11,396		)	—		(11,396		)
March 31, 2019	$	914,023		$	30,786	$	944,809

Schedule of Intangible Assets

Other intangible assets consisted of:



		March 31, 2019						December 31, 2018
	Range of Life - Years	Gross Amount			Accumulated Amortization			Gross Amount			Accumulated Amortization
Amortized intangible assets:
Revenue sharing programs (RSPs)	Up to 30	$	299,500		$	(125,533	)	$	299,500		$	(121,957	)
Component repair programs (CRPs)	Up to 30	111,839			(23,404		)	111,839			(21,895		)
Customer relationships	10-16	338,366			(84,496		)	338,366			(79,439		)
Patents and technology	4-14	125,852			(62,600		)	125,852			(59,205		)
Trademarks/trade names	10-30	11,950			(10,830		)	11,950			(10,731		)
Other	Up to 15	7,296			(3,662		)	7,296			(3,551		)
		894,803			(310,525		)	894,803			(296,778		)
Unamortized intangible assets:
Trade names		55,670			—			55,670			—
Foreign currency translation		(22,386		)	—			(17,157		)	—
Other intangible assets		$	928,087		$	(310,525	)	$	933,316		$	(296,778	)

Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt and notes and overdrafts payable at March 31, 2019 and December 31, 2018 consisted of:



	March 31, 2019					December 31, 2018
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
Revolving credit agreement	$	772,737		$	788,492	$	831,016		$	828,800
3.97% Senior Notes	100,000			102,504		100,000			100,185
Borrowings under lines of credit and overdrafts	23,051			23,051		2,137			2,137
Capital leases	9,400			9,563		10,216			10,503
Other foreign bank borrowings	634			638		647			651
	905,822			924,248		944,016			942,276
Less current maturities	(28,282		)			(7,659		)
Long-term debt	$	877,540				$	936,357

Derivatives (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The following table sets forth the fair value amounts of derivative instruments held by the Company.



	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
	Balance Sheet Location	March 31, 2019		December 31, 2018		Balance Sheet Location	March 31, 2019			December 31, 2018
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	773	$	1,412	Other liabilities	$	—		$	—
Foreign exchange contracts	Prepaid expenses and other current assets	—		—		Accrued liabilities	(361		)	(258		)
Total derivatives designated as hedging instruments		773		1,412			(361		)	(258		)

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Prepaid expenses and other current assets	20		1,105		Accrued liabilities	(949		)	(90		)
Total derivatives not designated as hedging instruments		20		1,105			(949		)	(90		)

Total derivatives		$	793	$	2,517		$	(1,310	)	$	(348	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table sets forth the effect of hedge accounting on accumulated other comprehensive (loss) income for the three-month periods ended March 31, 2019 and 2018:



	Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative						Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
	Three months ended March 31,							Three months ended March 31,
Derivatives in Hedging Relationships	2019			2018				2019			2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts	$	(487	)	$	1,235		Interest expense	$	142		$	(82	)
Foreign exchange contracts	(81		)	(839		)	Net sales	(337		)	(226		)
Total	$	(568	)	$	396			$	(195	)	$	(308	)

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the effect of hedge accounting on the consolidated statements of income for the three-month periods ended March 31, 2019 and 2018:



	Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
	Three months ended March 31,
	2019					2018
	Net sales			Interest expense		Net sales			Interest expense
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded	$	376,692		$	5,113	$	366,660		$	3,892
The effects of hedging:
Gain (Loss) on cash flow hedging relationships
Interest rate contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income				142					(82		)
Foreign exchange contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income	(337		)			(226		)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the effect of derivatives not designated as hedging instruments on the consolidated statements of income for the three-month periods ended March 31, 2019 and 2018.



	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative^(A)
		Three months ended March 31,
Derivatives Not Designated as Hedging Instruments		2019			2018
Foreign exchange contracts	Other expense (income), net	$	(3,819	)	$	(6,092	)

(A) Such amounts were substantially offset by the net (gain) loss recorded on the underlying hedged asset or liability, also recorded in other expense (income), net.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides the assets and liabilities reported at fair value and measured on a recurring basis:



				Fair Value Measurements Using
Description	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
March 31, 2019
Asset derivatives	$	793		$	—	$	793		$	—
Liability derivatives	(1,310		)	—		(1,310		)	—
Bank acceptances	10,212			—		10,212			—
Rabbi trust assets	2,704			2,704		—			—
	$	12,399		$	2,704	$	9,695		$	—

December 31, 2018
Asset derivatives	$	2,517		$	—	$	2,517		$	—
Liability derivatives	(348		)	—		(348		)	—
Bank acceptances	17,698			—		17,698			—
Rabbi trust assets	2,457			2,457		—			—
	$	22,324		$	2,457	$	19,867		$	—

Pension and Other Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

Pension and other postretirement benefits expenses consisted of the following:



	Three months ended March 31,
Pensions	2019			2018
Service cost	$	1,433		$	1,590
Interest cost	4,536			4,309
Expected return on plan assets	(7,078		)	(7,394		)
Amortization of prior service cost	103			141
Amortization of actuarial losses	2,158			2,811
Net periodic benefit cost	$	1,152		$	1,457



	Three months ended March 31,
Other Postretirement Benefits	2019		2018
Service cost	$	19	$	24
Interest cost	340		344
Amortization of prior service cost	6		5
Amortization of actuarial losses	10		160
Net periodic benefit cost	$	375	$	533

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

ROU assets and lease liabilities

The following table sets forth the classification of ROU assets and lease liabilities on the Consolidated Balance Sheets:




Operating Leases	Classification	March 31, 2019
Leased Assets
ROU assets	Other assets	$	33,316

Lease Liabilities
Current lease liability	Accrued liabilities	10,689
Long term lease liability	Other liabilities	23,470
		$	34,159

Future minimum lease payments

Future minimum lease payments under non-cancellable leases as of March 31, 2019 were as follows:




	Operating Leases
2019	$	9,266
2020	9,582
2021	6,995
2022	3,251
2023	2,453
After 2023	7,688
Total lease payments	$	39,235
Less: Interest	5,076
Present value of lease payments	$	34,159

Lease Term and Discount Rate




Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.2
Weighted-average discount rate
Operating leases	3.97	%

Other Information




Other Information	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,363
Leased assets obtained in exchange for new operating lease liabilities	$	4,563

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables)

3 Months Ended

Mar. 31, 2019

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

Schedule of Changes in Accumulated Other Comprehensive Income (Loss) By Component

The following tables sets forth the changes in accumulated other comprehensive income (loss), net of tax, by component for the three-month periods ended March 31, 2019 and 2018:



	Gains and Losses on Cash Flow Hedges			Pension and Other Postretirement Benefit Items			Foreign Currency Items			Total
January 1, 2019	$	834		$	(138,690	)	$	(52,644	)	$	(190,500	)
Other comprehensive (loss) income before reclassifications	(723		)	(122		)	(9,225		)	(10,070		)
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	155			1,737			—			1,892
Net current-period other comprehensive income	(568		)	1,615			(9,225		)	(8,178		)
March 31, 2019	$	266		$	(137,075	)	$	(61,869	)	$	(198,678	)



	Gains and Losses on Cash Flow Hedges		Pension and Other Postretirement Benefit Items			Foreign Currency Items			Total
January 1, 2018	$	72	$	(103,844	)	$	(2,627	)	$	(106,399	)
Other comprehensive income before reclassifications	157		763			26,953			27,873
Amounts reclassified from accumulated other comprehensive income to the consolidated statements of income	239		2,401			—			2,640
Net current-period other comprehensive income	396		3,164			26,953			30,513
Amounts reclassified from accumulated other comprehensive income to retained earnings (A)	—		(19,331		)	—			(19,331		)
March 31, 2018	$	468	$	(120,011	)	$	24,326		$	(95,217	)

(A) This amount represents the reclassification of stranded tax effects resulting from the Act, as permitted by amended guidance issued by the FASB in February 2018. See Note 3 of the Consolidated Financial Statements.

Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) to the Consolidated Statements of Income

The following table sets forth the reclassifications out of accumulated other comprehensive income (loss) by component for the three-month periods ended March 31, 2019 and 2018:



Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)						Affected Line Item in the Consolidated Statements of Income
	Three months ended March 31, 2019			Three months ended March 31, 2018
Gains and losses on cash flow hedges
Interest rate contracts	$	142		$	(82	)	Interest expense
Foreign exchange contracts	(337		)	(226		)	Net sales
	(195		)	(308		)	Total before tax
	40			69			Tax benefit
	(155		)	(239		)	Net of tax

Pension and other postretirement benefit items
Amortization of prior-service costs	$	(109	)	$	(146	)	(A)
Amortization of actuarial losses	(2,168		)	(2,971		)	(A)
	(2,277		)	(3,117		)	Total before tax
	540			716			Tax benefit
	(1,737		)	(2,401		)	Net of tax

Total reclassifications in the period	$	(1,892	)	$	(2,640	)

(A) These accumulated other comprehensive income (loss) components are included within the computation of net periodic Pension and Other Postretirement Benefits cost. See Note 12 of the Consolidated Financial Statements.

Information on Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth information about the Company's operations by its two reportable segments:



	Three months ended March 31,
	2019		2018
Net sales
Industrial	$	242,502	$	245,967
Aerospace	134,190		120,699
Intersegment sales	—		(6		)
Total net sales	$	376,692	$	366,660

Operating profit
Industrial	$	21,502	$	32,378
Aerospace	29,147		24,255
Total operating profit	50,649		56,633
Interest expense	5,113		3,892
Other expense (income), net	1,806		1,763
Income before income taxes	$	43,730	$	50,978



	March 31, 2019		December 31, 2018
Assets
Industrial	$	1,934,014	$	1,962,362
Aerospace	706,633		692,584
Other ^(A)	159,028		154,024
Total assets	$	2,799,675	$	2,808,970

(A) "Other" assets include corporate-controlled assets, the majority of which are cash and cash equivalents.

Acquisitions (Details) - Gimatic and IGS [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Business Acquisition [Line Items]
Net Sales	$ 386,562
Net Income	$ 37,294

Recent Accounting Standards (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
ROU assets	$ 33,316	$ 31,724
Lease liability	34,159	$ 32,579
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,389,438		$ 1,363,772
Accounting Standards Update 2018-02 [Member] \| New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				$ 19,331

Revenue - Revenue by Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 376,692	$ 366,660
Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	242,502	245,961
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	134,190	120,699
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	194,432	182,488
Americas [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	98,288	96,527
Americas [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	96,144	85,961
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	118,754	118,815
Europe [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	94,430	94,140
Europe [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	24,324	24,675
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	61,346	63,293
Asia [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	48,942	54,380
Asia [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	12,404	8,913
Other Geographic Market [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,160	2,064
Other Geographic Market [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	842	914
Other Geographic Market [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,318	1,150
Engineered Components Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	69,684	77,090
Engineered Components Products [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	69,684	77,090
Engineered Components Products [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Molding Solutions Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	106,793	119,099
Molding Solutions Products [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	106,793	119,099
Molding Solutions Products [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Force & Motion Control Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	51,617	49,772
Force & Motion Control Products [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	51,617	49,772
Force & Motion Control Products [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Automation Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	14,408	0
Automation Products [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	14,408	0
Automation Products [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Aerospace Original Equipment Manufacturing Products [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	87,939	80,695
Aerospace Original Equipment Manufacturing Products [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Aerospace Original Equipment Manufacturing Products [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	87,939	80,695
Aerospace Aftermarket Products and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	46,251	40,004
Aerospace Aftermarket Products and Services [Member] \| Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Aerospace Aftermarket Products and Services [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 46,251	$ 40,004
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	90.00%
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue transfered percent	10.00%

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Unbilled receivables (contract assets)	$ 17,501		$ 11,844
Unbilled receivables (contract assets), $ Change	$ 5,657
Unbilled receivables (contract assets), % Change	48.00%
Contract liabilities	$ (56,606)		(57,522)
Contract liabilities, $ Change	$ 916
Contract liabilities, % Change	(2.00%)
Net contract liabilities	$ (39,105)		$ (45,678)
Net contract liabilities, $ Change	$ 6,573
Net contract liabilities, % Change	(14.00%)
Customer advances	$ 14,243	$ 15,348
Percent of liability revenue recognized	35.00%

Revenue - Contract Costs (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue - Contract Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Capitalized Contract Cost [Line Items]
Amortization of capitalized costs	$ 3,434	$ 3,986
Capitalized costs, net	8,339		$ 8,445
Tooling [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	6,058		6,155
Design Costs [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	2,281		2,285
Other Capitalized Contract Cost [Member]
Capitalized Contract Cost [Line Items]
Capitalized costs, net	$ 0		$ 5

Revenue - Remaining Performance Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 228,536
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	1 year
Remaining performance obligations, percentage	80.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	2 years
Remaining performance obligations, percentage	20.00%

Stockholders Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 1,203,056	$ 1,260,321
Comprehensive income	25,814	69,331
Dividends declared	$ (8,217)	$ (7,453)
Dividends declared (in dollars per share)	$ 0.16	$ 0.14
Common stock repurchases		$ (33,541)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)		0
Cumulative effect of change in accounting guidance related to Revenue (Note 3)		4,295
Employee stock plans	$ 3,850	2,633
Balance	1,224,503	1,295,586
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 634	$ 630
Balance (in shares)	63,367	63,034
Employee stock plans		$ 1
Employee stock plans (in shares)	51	20
Balance	$ 634	$ 631
Balance (in shares)	63,418	63,054
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 470,818	$ 457,365
Employee stock plans	4,039	2,874
Balance	474,857	460,239
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 441,668	$ 297,998
Balance (in shares)	12,034	9,656
Common stock repurchases		$ (33,541)
Common stock repurchases (in shares)		533
Employee stock plans	$ 80	$ 68
Employee stock plans (in shares)	1	1
Balance	$ 441,748	$ 331,607
Balance (in shares)	12,035	10,190
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 1,363,772	$ 1,206,723
Comprehensive income	33,992	38,818
Dividends declared	(8,217)	(7,453)
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)		19,331
Cumulative effect of change in accounting guidance related to Revenue (Note 3)		4,295
Employee stock plans	(109)	(174)
Balance	1,389,438	1,261,540
Accumulated Other Non-Owner Changes to Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	(190,500)	(106,399)
Comprehensive income	(8,178)	30,513
Reclassification pursuant to accounting guidance related to U.S. Tax Reform (Note 3)		(19,331)
Balance	$ (198,678)	$ (95,217)

Net Income Per Common Share (Details) - shares	1 Months Ended	3 Months Ended
Net Income Per Common Share (Details) - shares	Feb. 28, 2018	Mar. 31, 2019	Mar. 31, 2018
Net Income Per Common Share [Line Items]
Weighted average number of diluted shares outstanding adjustment (in shares)		528,661	553,903
Stock Options [Member]
Net Income Per Common Share [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)		221,201	153,908
Options, granted (in shares)	120,585
Restricted Stock Units (RSUs) [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	93,992
Performance Share Awards [Member]
Net Income Per Common Share [Line Items]
Other than options, granted (in shares)	88,402
Performance period		3 years
Minimum range of target award of stock plan		0.00%
Maximum range of target award of stock plan		250.00%

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 84,965	$ 87,779
Work-in-process	96,146	98,426
Raw material and supplies	76,138	79,785
Inventories	$ 257,249	$ 265,990

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Goodwill:
Goodwill, beginning of period	$ 955,524
Acquisition related	681
Foreign currency translation	(11,396)
Goodwill, end of period	944,809
Other Intangible Assets:
Gross Amount	894,803	$ 894,803
Accumulated Amortization	(310,525)	(296,778)
Foreign currency translation	(22,386)	(17,157)
Other intangible assets	928,087	933,316
Intangible Assets, Future Amortization Expense
Amortization of intangible assets expected, remainder of fiscal year	53,000
Amortization of intangible assets expected in year 2	50,000
Amortization of intangible assets expected in year 3	49,000
Amortization of intangible assets expected in year 4	49,000
Amortization of intangible assets expected in year 5	48,000
Trade name [Member]
Other Intangible Assets:
Unamortized intangible asset	55,670	55,670
Revenue sharing programs (RSPs) [Member]
Other Intangible Assets:
Gross Amount	299,500	299,500
Accumulated Amortization	(125,533)	(121,957)
Component repair programs (CRPs) [Member]
Other Intangible Assets:
Gross Amount	111,839	111,839
Accumulated Amortization	(23,404)	(21,895)
Customer lists/relationships [Member]
Other Intangible Assets:
Gross Amount	338,366	338,366
Accumulated Amortization	(84,496)	(79,439)
Patents and technology [Member]
Other Intangible Assets:
Gross Amount	125,852	125,852
Accumulated Amortization	(62,600)	(59,205)
Trademarks/trade names [Member]
Other Intangible Assets:
Gross Amount	11,950	11,950
Accumulated Amortization	(10,830)	(10,731)
Other [Member]
Other Intangible Assets:
Gross Amount	7,296	7,296
Accumulated Amortization	(3,662)	$ (3,551)
Industrial [Member]
Goodwill:
Goodwill, beginning of period	924,738
Acquisition related	681
Foreign currency translation	(11,396)
Goodwill, end of period	914,023
Aerospace [Member]
Goodwill:
Goodwill, beginning of period	30,786
Acquisition related	0
Foreign currency translation	0
Goodwill, end of period	$ 30,786
Minimum [Member] \| Customer lists/relationships [Member]
Other Intangible Assets:
Range of life	10 years
Minimum [Member] \| Patents and technology [Member]
Other Intangible Assets:
Range of life	4 years
Minimum [Member] \| Trademarks/trade names [Member]
Other Intangible Assets:
Range of life	10 years
Maximum [Member] \| Revenue sharing programs (RSPs) [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] \| Component repair programs (CRPs) [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] \| Customer lists/relationships [Member]
Other Intangible Assets:
Range of life	16 years
Maximum [Member] \| Patents and technology [Member]
Other Intangible Assets:
Range of life	14 years
Maximum [Member] \| Trademarks/trade names [Member]
Other Intangible Assets:
Range of life	30 years
Maximum [Member] \| Other [Member]
Other Intangible Assets:
Range of life	15 years

Debt (Debt Schedule) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Fair value of debt	$ 924,248	$ 942,276
Total debt, net of unamortized discounts	905,822	944,016
Borrowings under lines of credit and overdrafts	23,051	2,137
Less current maturities	(28,282)	(7,659)
Long-term debt	877,540	936,357
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt	772,737	831,016
Fair value of debt	788,492	828,800
Senior Notes [Member] \| 3.97% Senior Notes [Member]
Debt Instrument [Line Items]
Carrying amount of debt	100,000	100,000
Fair value of debt	102,504	100,185
Lines of Credit and Overdrafts [Member]
Debt Instrument [Line Items]
Fair value of debt	23,051	2,137
Borrowings under lines of credit and overdrafts	23,051	2,137
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Carrying amount of debt	9,400	10,216
Fair value of debt	9,563	10,503
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt	634	647
Fair value of debt	$ 638	$ 651

Debt (Narrative) (Details) € in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
Debt (Narrative) (Details) € in Thousands	Sep. 19, 2018 USD ($)	Oct. 31, 2018	Mar. 31, 2019 EUR (€)	Dec. 31, 2018 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 USD ($)	Oct. 19, 2018 USD ($)	Dec. 31, 2017 USD ($)	Feb. 28, 2017 USD ($)	Oct. 31, 2014 USD ($)
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts					$ 23,051,000		$ 2,137,000
Debt covenant ratio of senior debt to EBITDA			3.25		3.25
Debt covenant ratio of total debt to EBITDA			3.75		3.75
Debt covenant ratio of EBITDA to cash interest expense			4.25		4.25
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Carrying amount of debt					$ 772,737,000		831,016,000
Line of credit facility, maximum borrowing capacity									$ 750,000,000
Line of credit facility with accordian feature, maximum borrowing capacity									$ 250,000,000
Remaining borrowing capacity					227,263,000		168,984,000
Revolving Credit Agreement [Member] \| Euro Member Countries, Euro
Debt Instrument [Line Items]
Carrying amount of debt			€ 490,080		$ 550,237,000	€ 470,350	$ 538,316,000
Stated interest rate			1.82%		1.82%	1.99%	1.99%
Revolving Credit Agreement [Member] \| International Subsidiary Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt			€ 44,100		$ 49,506,000	€ 179,000	$ 208,589,000
Senior Notes [Member] \| 3.97% Senior Notes [Member]
Debt Instrument [Line Items]
Carrying amount of debt					100,000,000		100,000,000
Stated interest rate											3.97%
Converted amount with accrued interest											$ 100,000,000
Percent allowed to be prepaid											100.00%
Lines of Credit [Member]
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts					23,000,000		$ 2,041,000
Line of credit facility, maximum borrowing capacity					$ 87,000,000
Line of credit, interest rate at period end			3.21%		3.21%	0.17%	0.17%
Bank Overdrafts [Member]
Debt Instrument [Line Items]
Borrowings under lines of credit and overdrafts					$ 51,000		$ 96,000
Repayment period			2 days
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Carrying amount of debt					9,400,000		10,216,000
Foreign Bank Borrowings [Member]
Debt Instrument [Line Items]
Carrying amount of debt					634,000		$ 647,000
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant, Threshold for Permitted Acquisition					$ 150,000,000
Debt Instrument, Covenant, Material Acquisition, Consolidated Senior Credit to Consolidated EBITDA			3.50		3.50
Debt Instrument, Covenant, Material Acquisition, Total Consolidated Debt to Consolidated EBITDA			4.25		4.25
Revolving Credit Agreement [Member] \| Fourth Amendment, Maturity February 2022 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity										$ 850,000,000
Revolving Credit Agreement [Member] \| Fourth Amendment, Maturity February 2022 [Member] \| Euro Member Countries, Euro
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity										600,000,000
Revolving Credit Agreement [Member] \| Fourth Amendment, Maturity February 2022 [Member] \| Euribor [Member]
Debt Instrument [Line Items]
Stated interest rate		0.00%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 1,000,000,000
Line of credit facility with accordian feature, maximum borrowing capacity								$ 200,000,000
Debt fees and expenses				$ 529,000
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| one-month LIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.10%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| one-month LIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.70%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		0.10%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		0.70%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| Euribor [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.10%
Revolving Credit Agreement [Member] \| Fifth Amendment, Maturity February 2022 [Member] \| Euribor [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable basis spread		1.70%
Revolving Credit Agreement [Member] \| Fourth Amendment, Maturity February 2022, Accordion Feature [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity										$ 350,000,000
SPA with Gimatic [Member]
Debt Instrument [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 150,000,000

Derivatives (Details) $ in Thousands	3 Months Ended
Derivatives (Details) $ in Thousands	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Apr. 28, 2017 USD ($) Bank
Derivative [Line Items]
Net cash payments from settlement	$ (1,340)	$ (6,546)
Maximum remaining maturity of foreign currency derivatives	2 years
Derivative Assets	$ 793		$ 2,517
Derivative Liabilities	(1,310)		(348)
Net sales	376,692	366,660
Interest expense	5,113	3,892
Foreign Exchange Contract [Member]
Derivative [Line Items]
Net cash payments from settlement	1,299	6,505
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Assets	773		1,412
Derivative Liabilities	(361)		(258)
Designated as Hedging Instrument [Member] \| Interest Rate Contract [Member]
Derivative [Line Items]
Derivative Assets	773		1,412
Derivative Liabilities	0		0
Designated as Hedging Instrument [Member] \| Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Assets	0		0
Derivative Liabilities	(361)		(258)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	(568)	396
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(195)	(308)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Interest Rate Contract [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	(487)	1,235
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	142	(82)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Foreign Exchange Contract [Member]
Derivative [Line Items]
Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive (Loss) Income on Derivative	(81)	(839)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	(337)	(226)
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative Assets	20		1,105
Derivative Liabilities	(949)		(90)
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Assets	20		1,105
Derivative Liabilities	(949)		$ (90)
Amount of Gain (Loss) Recognized in Income on Derivatives	$ (3,819)	$ (6,092)
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Number of banks transacted with for interest rate swap agreements (in banks) \| Bank				1
Fixed interest rate				1.92%
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| one-month LIBOR [Member]
Derivative [Line Items]
Derivative amount of hedge				$ 100,000

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	$ 793	$ 2,517
Liability derivatives	(1,310)	(348)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Bank acceptances	0	0
Rabbi trust assets	2,704	2,457
Financial assets and financial liabilities, reported at fair value	2,704	2,457
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	793	2,517
Liability derivatives	(1,310)	(348)
Bank acceptances	10,212	17,698
Rabbi trust assets	0	0
Financial assets and financial liabilities, reported at fair value	9,695	19,867
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Bank acceptances	0	0
Rabbi trust assets	0	0
Financial assets and financial liabilities, reported at fair value	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset derivatives	793	2,517
Liability derivatives	(1,310)	(348)
Bank acceptances	10,212	17,698
Rabbi trust assets	2,704	2,457
Financial assets and financial liabilities, reported at fair value	$ 12,399	$ 22,324
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	3 months
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity of bank acceptances	6 months

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pensions [Member]
Pension and other postretirement benefits expenses
Service cost	$ 1,433	$ 1,590
Interest cost	4,536	4,309
Expected return on plan assets	(7,078)	(7,394)
Amortization of prior service cost (credit)	103	141
Amortization of actuarial losses	2,158	2,811
Net periodic benefit cost	1,152	1,457
Other Postretirement Benefits [Member]
Pension and other postretirement benefits expenses
Service cost	19	24
Interest cost	340	344
Amortization of prior service cost (credit)	6	5
Amortization of actuarial losses	10	160
Net periodic benefit cost	$ 375	$ 533

Income Taxes (Details)	3 Months Ended		12 Months Ended
Income Taxes (Details)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	22.30%	23.90%	19.90%

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
ROU assets	$ 33,316	$ 31,724
Current lease liability	10,689
Long term lease liability	23,470
Lease Liabilities	34,159	$ 32,579
Operating lease cost	3,943
Minimum rental commitments 2019			$ 11,931
Minimum rental commitments 2020			8,322
Minimum rental commitments 2021			5,888
Minimum rental commitments 2022			2,898
Minimum rental commitments 2023			2,064
Minimum rental commitments thereafter			$ 7,659
Future minimum lease payments 2019	9,266
Future minimum lease payments 2020	9,582
Future minimum lease payments 2021	6,995
Future minimum lease payments 2022	3,251
Future minimum lease payments 2023	2,453
Future minimum lease payments after 2023	7,688
Total lease payments	39,235
Less: Interest	$ 5,076
Weighted-average remaining lease term (years)	6 years 2 months 12 days
Weighted-average discount rate	3.97%
Operating cash flows from operating leases	$ 3,363
Leased assets obtained in exchange for new operating lease liabilities	$ 4,563
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Renewal periods	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years
Renewal periods	5 years

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2018	Mar. 31, 2019	Mar. 31, 2018
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)		$ (190,500)	$ (106,399)
Other comprehensive (loss) income before reclassifications		(10,070)	27,873
Amounts reclassified from accumulated other comprehensive income	$ (19,331)	1,892	2,640
Net current-period other comprehensive income		(8,178)	30,513
Accumulated other comprehensive income (loss)		(198,678)	(95,217)
Gains and Losses on Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)		834	72
Other comprehensive (loss) income before reclassifications		(723)	157
Amounts reclassified from accumulated other comprehensive income	0	155	239
Net current-period other comprehensive income		(568)	396
Accumulated other comprehensive income (loss)		266	468
Pension and Other Postretirement Benefit Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)		(138,690)	(103,844)
Other comprehensive (loss) income before reclassifications		(122)	763
Amounts reclassified from accumulated other comprehensive income	(19,331)	1,737	2,401
Net current-period other comprehensive income		1,615	3,164
Accumulated other comprehensive income (loss)		(137,075)	(120,011)
Foreign Currency Items
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Accumulated other comprehensive income (loss)		(52,644)	(2,627)
Other comprehensive (loss) income before reclassifications		(9,225)	26,953
Amounts reclassified from accumulated other comprehensive income	$ 0	0	0
Net current-period other comprehensive income		(9,225)	26,953
Accumulated other comprehensive income (loss)		$ (61,869)	$ 24,326

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (5,113)	$ (3,892)
Net sales	376,692	366,660
Income before income taxes	43,730	50,978
Tax benefit	(9,738)	(12,160)
Total reclassifications in the period	33,992	38,818
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications in the period	(1,892)	(2,640)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Gains and Losses on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(195)	(308)
Tax benefit	40	69
Income from continuing operations	(155)	(239)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Gains and Losses on Cash Flow Hedges \| Interest Rate Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	142	(82)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Gains and Losses on Cash Flow Hedges \| Foreign Exchange Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	(337)	(226)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Pension and Other Postretirement Benefit Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(2,277)	(3,117)
Tax benefit	540	716
Income from continuing operations	(1,737)	(2,401)
Amortization of prior-service credits, net	(109)	(146)
Amortization of actuarial losses	$ (2,168)	$ (2,971)

Information on Business Segments (Details) $ in Thousands	3 Months Ended
Information on Business Segments (Details) $ in Thousands	Mar. 31, 2019 USD ($) Segment	Mar. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	2
Net sales	$ 376,692	$ 366,660
Operating profit	50,649	56,633
Interest expense	5,113	3,892
Other expense (income), net	1,806	1,763
Income before income taxes	43,730	50,978
Aerospace [Member]
Segment Reporting Information [Line Items]
Net sales	134,190	120,699
Operating profit	29,147	24,255
Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	242,502	245,967
Operating profit	21,502	32,378
Intersegment sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ 0	$ (6)

Information on Business Segments Details 1 (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 2,799,675	$ 2,808,970
Aerospace [Member]
Segment Reporting Information [Line Items]
Assets	706,633	692,584
Industrial [Member]
Segment Reporting Information [Line Items]
Assets	1,934,014	1,962,362
Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 159,028	$ 154,024