VISHAY PRECISION GROUP, INC., 10-K filed on 2/25/2025
Annual Report
v3.25.0.1
Cover - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Feb. 25, 2025
Jun. 29, 2024
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 1-34679    
Entity Registrant Name Vishay Precision Group, Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 27-0986328    
Entity Address, Address Line One 3 Great Valley Parkway, Suite 150    
Entity Address, City or Town Malvern    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 19355    
City Area Code 484    
Local Phone Number 321-5300    
Title of 12(b) Security Common Stock, $0.10 par value    
Trading Symbol VPG    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 374,615
Documents Incorporated by Reference
Portions of the registrant’s definitive proxy statement, which will be filed within 120 days of December 31, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K.
    
Entity Central Index Key 0001487952    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock      
Entity Common Stock, Shares Outstanding (in shares)   12,234,453  
Class B Convertible Common Stock      
Entity Common Stock, Shares Outstanding (in shares)   1,022,887  
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Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name Brightman Almagor Zohar & Co.
Auditor Location Tel Aviv, Israel
Auditor Firm ID 1197
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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 79,272 $ 83,965
Accounts receivable, net of allowances for credit losses of $510 and $508, respectively 51,200 56,438
Inventories:    
Raw materials 33,013 33,973
Work in process 27,187 26,594
Finished goods 23,960 27,572
Inventories 84,160 88,139
Prepaid expenses and other current assets 17,088 14,520
Assets held for sale 5,229 0
Total current assets 236,949 243,062
Property and equipment:    
Land 2,316 4,154
Buildings and improvements 68,125 72,952
Machinery and equipment 132,938 131,738
Software 10,351 9,619
Construction in progress 11,246 11,379
Accumulated depreciation (145,475) (139,206)
Property and equipment, net 79,501 90,636
Goodwill 46,819 45,734
Intangible assets, net 41,815 44,634
Operating lease right-of-use assets 24,316 26,953
Other assets 21,535 20,547
Total assets 450,935 471,566
Current liabilities:    
Trade accounts payable 9,890 11,698
Payroll and related expenses 18,546 18,971
Other accrued expenses 19,725 22,427
Income taxes 880 4,524
Current portion of operating lease liabilities 3,998 4,004
Total current liabilities 53,039 61,624
Long-term debt 31,441 31,856
Deferred income taxes 3,779 3,490
Operating lease liabilities 19,928 22,625
Other liabilities 14,193 14,770
Accrued pension and other postretirement costs 6,695 7,276
Total liabilities 129,075 141,641
Commitments and contingencies
Equity:    
Preferred stock, par value $1.00 per share: authorized - 1,000,000 shares; none issued 0 0
Treasury stock, at cost - 1,137,995 shares held at December 31, 2024 and 893,293 shares held at December 31, 2023 (25,335) (17,460)
Capital in excess of par value 202,783 202,672
Retained earnings 191,977 182,066
Accumulated other comprehensive loss (48,897) (38,869)
Total Vishay Precision Group, Inc. stockholders' equity 321,967 329,842
Noncontrolling interests (107) 83
Total equity 321,860 329,925
Total liabilities and equity 450,935 471,566
Common Stock    
Equity:    
Common stock 1,336 1,330
Class B Convertible Common Stock    
Equity:    
Common stock $ 103 $ 103
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Consolidated Balance Sheets [Parenthetical] - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Accounts receivable, net of allowances for credit losses $ 510 $ 508
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, shares issued (in shares) 0 0
Treasury stock (in shares) 1,137,995 893,293
Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 25,000,000 25,000,000
Common stock, shares outstanding (in shares) 12,215,668 12,405,151
Class B Convertible Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 3,000,000 3,000,000
Common stock, shares outstanding (in shares) 1,022,887 1,022,887
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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net revenues $ 306,522 $ 355,048 $ 362,580
Costs of products sold 180,990 204,706 212,978
Gross profit 125,532 150,342 149,602
Selling, general, and administrative expenses 107,505 106,828 104,285
Acquisition costs 101 0 0
Restructuring charges 1,062 1,560 1,518
Operating income 16,864 41,954 43,799
Other income (expense):      
Interest expense (2,512) (3,974) (2,269)
Other 3,212 456 3,558
Other income (expenses) 700 (3,518) 1,289
Income before taxes 17,564 38,436 45,088
Income tax expense 7,730 12,426 8,535
Net earnings 9,834 26,010 36,553
Less: net (loss) earnings attributable to noncontrolling interests (77) 303 490
Net earnings attributable to VPG stockholders $ 9,911 $ 25,707 $ 36,063
Basic earnings per share attributable to VPG stockholders (in dollars per share) $ 0.74 $ 1.89 $ 2.65
Diluted earnings per share attributable to VPG stockholders (in dollars per share) $ 0.74 $ 1.88 $ 2.63
Weighted average shares outstanding - basic (in shares) 13,353 13,574 13,628
Weighted average shares outstanding - diluted (in shares) 13,386 13,653 13,688
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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net earnings $ 9,834 $ 26,010 $ 36,553
Other comprehensive income (loss), net of tax:      
Foreign currency translation adjustment (9,653) 2,227 (11,213)
Pension and other postretirement actuarial items (375) (196) 5,321
Other comprehensive income (loss), net of tax (10,028) 2,031 (5,892)
Other comprehensive income (loss) (194) 28,041 30,661
Less: comprehensive income (loss) attributable to noncontrolling interests (77) 303 490
Comprehensive income (loss) attributable to VPG stockholders $ (117) $ 27,738 $ 30,171
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Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Total VPG Inc. Stockholders' Equity
Common Stock
Class B Convertible Common Stock
Treasury Stock
Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2021 $ 277,042 $ 277,099 $ 1,322 $ 103 $ (8,765) $ 199,151 $ 120,296 $ (35,008) $ (57)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net earnings 36,553 36,063         36,063   490
Other comprehensive income (loss) (5,892) (5,892)           (5,892)  
Share-based compensation expense 2,439 2,439       2,439      
Restricted stock issuances (423) (423) 3     (426)      
Purchase of treasury stock (2,739) (2,739)     (2,739)        
Distributions to noncontrolling interests (458)               (458)
Balance at end of period at Dec. 31, 2022 306,522 306,547 1,325 103 (11,504) 201,164 156,359 (40,900) (25)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net earnings 26,010 25,707         25,707   303
Other comprehensive income (loss) 2,031 2,031           2,031  
Share-based compensation expense 2,290 2,290       2,290      
Restricted stock issuances (777) (777) 5     (782)      
Purchase of treasury stock (5,915) (5,915)     (5,915)        
Excise tax on net share repurchases (41) (41)     (41)        
Distributions to noncontrolling interests (195)               (195)
Balance at end of period at Dec. 31, 2023 329,925 329,842 1,330 103 (17,460) 202,672 182,066 (38,869) 83
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net earnings 9,834 9,911         9,911   (77)
Other comprehensive income (loss) (10,028) (10,028)           (10,028)  
Share-based compensation expense 971 971       971      
Restricted stock issuances (854) (854) 6     (860)      
Purchase of treasury stock (7,815) (7,815)     (7,815)        
Excise tax on net share repurchases (60) (60)     (60)        
Distributions to noncontrolling interests (113)               (113)
Balance at end of period at Dec. 31, 2024 $ 321,860 $ 321,967 $ 1,336 $ 103 $ (25,335) $ 202,783 $ 191,977 $ (48,897) $ (107)
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Consolidated Statements of Equity [Parenthetical] - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Common Stock      
Restricted stock issuances (in shares) 55,219 47,189 28,368
Treasury Stock      
Purchase of treasury stock (in shares) (244,702) (188,413) (85,213)
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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net earnings $ 9,834 $ 26,010 $ 36,553
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 15,805 15,550 15,353
Loss (gain) on disposal of property and equipment (148) 75 (117)
Gain on sale of short term investment 0 (14) 0
Reclassification of foreign currency translation adjustment related to disposal of subsidiary 0 0 191
Share-based compensation expense 971 2,290 2,439
Inventory write-offs for obsolescence 2,352 2,099 1,650
Deferred income taxes 69 (156) (2,040)
Foreign currency impacts and other items (3,249) 660 (3,915)
Net changes in operating assets and liabilities, net of acquisition:      
Accounts receivable 3,244 3,794 (4,777)
Inventories 2,139 (4,898) (11,943)
Prepaid expenses and other current assets (3,962) 4,172 (2,808)
Trade accounts payable (416) (2,658) 889
Other current liabilities (5,634) 56 3,393
Other non current assets and liabilities, net (760) 439 (1,413)
Accrued pension and other postretirement costs, net (430) (1,526) (426)
Net cash provided by operating activities 19,815 45,893 33,029
Investing activities      
Capital expenditures (9,163) (15,154) (21,288)
Proceeds from sale of property and equipment 671 40 451
Purchase of short term investment 0 (1,000) 0
Proceeds from sale of short term investment 0 1,014 0
Purchase of business (4,409) 0 0
Net cash used in investing activities (12,901) (15,100) (20,837)
Financing activities      
Debt issuance costs (570) 0 0
Payments on revolving facility 0 (29,000) 0
Purchase of treasury stock (7,815) (5,915) (2,739)
Distributions to noncontrolling interests (113) (195) (457)
Payment of excise tax on net share repurchases (41) 0 0
Payments of employee taxes on certain share-based arrangements (860) (825) (435)
Net cash (used in) provided by financing activities (9,399) (35,935) (3,631)
Effect of exchange rate changes on cash and cash equivalents (2,208) 545 (4,334)
(Decrease) increase in cash and cash equivalents (4,693) (4,597) 4,227
Cash and cash equivalents at beginning of year 83,965 88,562 84,335
Cash and cash equivalents at end of year 79,272 83,965 88,562
Supplemental disclosure of investing transactions:      
Capital expenditures accrued but not yet paid 949 2,317 1,731
Supplemental disclosure of financing transactions:      
Excise tax on net share repurchases accrued but not yet paid $ 60 $ 41 $ 0
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Background and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Background and Summary of Significant Accounting Policies Background and Summary of Significant Accounting Policies
Background
Vishay Precision Group, Inc. (“VPG” or the “Company”) is a global leader in precision measurement and sensing technologies that help power the future by bridging the physical world with the digital one. Many of our specialized sensors, weighing solutions, and measurement systems are “designed-in” by our customers, and address growing applications across a diverse array of industries and markets. Our products are marketed under brand names that we believe are characterized as having a very high level of precision and quality, and we employ an operationally diversified structure to manage our businesses.
Principles of Consolidation
The consolidated financial statements include the accounts of the individual entities in which the Company maintained a controlling financial interest. For those subsidiaries in which the Company’s ownership is less than 100 percent, the outside stockholders’ interests are shown as noncontrolling interests in the accompanying consolidated balance sheets. All transactions, accounts, and profits between individual members comprising the Company have been eliminated in consolidation.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates.
Revenue Recognition
The Company derives substantially all of its revenue from product sales. The Company recognizes the vast majority of its sales at a point-in-time. It utilizes the core principle of recognizing revenue when the Company satisfies performance obligations as evidenced by the transfer of control of its products to the customer.
Such revenues are derived from purchase orders and/or contracts with customers. Each contract has the promise to transfer the control of the products, each of which is individually distinct and is considered the identified performance obligation. As part of the decision to enter into each contract, the Company evaluates the customer’s credit risk, but its contracts do not have any significant financing components, as payment is generally due net 30 to 60 days after delivery. In accordance with contract terms, revenue from the Company’s product sales is recognized at the time of product shipment from its facilities or delivery to the customer location, as determined by the agreed upon shipping terms.
Under the terms of some of its contracts, the Company may be required to perform certain installation services. These installation services are performed at the time of product delivery or at some point thereafter. The installation services do not significantly modify the product provided, and although the Company may be required contractually to provide these services, the installation services could be performed by a third party or the customer. Thus, these installation services are a distinct performance obligation. In most of the applicable contracts, this installation service element is immaterial in the context of the agreement. When the installation services are accounted for as a separate performance obligation, the Company allocates the transaction price to this element based on its relative standalone selling price.

Given the specialized nature of the Company's products, the Company generally does not allow product returns. Shipping and handling costs are recorded to Costs of product sold when control of the product has transferred to the customer. The Company offers standard product warranties. Warranty related costs continue to be recognized as expense when the products are sold. Sales, value added taxes and other taxes collected concurrent with revenue-producing activities are excluded from revenue. See Note 2 for further details on Revenues.
Research and Development Expenses
Research and development costs are expensed as incurred. The amount charged to expense for research and development was $20.0 million, $20.4 million, and $19.8 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Income Taxes
The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date.
The Company records net deferred tax assets to the extent it believes such assets will "more likely than not" be realized. In making this determination, the Company considers all positive and negative evidence, including historic earnings, projected future income, and cost-effective tax-planning strategies. When the Company determines that its ability to realize deferred tax assets is not "more likely than not", the Company adjusts its deferred tax asset valuation allowance, which increases income tax expense.
The Company records uncertain tax positions on the basis of a two-step process in which the Company first determines whether it is "more likely than not" that the tax positions will be sustained based on the technical merits of the position and then measures those tax positions that meet the more-likely-than-not recognition threshold. The Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the tax authority.
The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense in the accompanying consolidated statements of operations. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets.
Cash and Cash Equivalents
Cash and cash equivalents include demand deposits and highly liquid investments with original maturities of three months or less when purchased. Highly liquid investments with maturities greater than three months are classified as short-term investments. There were no investments classified as short-term investments at December 31, 2024 or 2023.
Allowance for Credit Losses
The Company maintains an allowance for credit losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance for credit losses, the Company considers historical loss data, customer specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. The allowance for credit losses was $0.5 million and $0.5 million at December 31, 2024 and 2023, respectively. The credit loss was $0.1 million, $0.2 million, and $0.0 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Inventories
Inventories are stated at the lower of cost, determined by the first-in, first-out method, or market based on net realizable value. Inventories are adjusted for estimated excess and obsolescence and written down to net realizable value based upon estimates of future demand, technology developments, and market conditions.
Assets Held For Sale
The Company considers properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we reclassify it to current assets as “Asset held for sale” and we record the property’s value at the lower of its carrying amount or its estimated fair value, less estimated costs to sell, and we cease depreciation.
Property and Equipment
Property and equipment are carried at cost and is depreciated principally by the straight-line method based upon the estimated useful lives of the assets. Machinery and equipment are being depreciated over useful lives of seven to fifteen years. Buildings and building improvements are being depreciated over useful lives of twenty to forty years or the lease term. Software is being depreciated over useful lives of three to five years. Construction in progress is not depreciated until the assets are placed in service. Depreciation expense was $12.0 million, $11.8 million, and $11.5 million for the years ended December 31, 2024, 2023, and 2022, respectively, which included software depreciation expense of $0.5 million, 0.8 million, and $0.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Business Combinations
The Company allocates the purchase price of an acquired company, including when applicable, the fair value of contingent consideration between tangible and intangible assets acquired and liabilities assumed from the acquired businesses based on estimated fair values, with any residual of the purchase price recorded as goodwill. Estimating fair values requires significant judgments, estimates and assumptions including but not limited to: discount rates, future cash flows and the economic lives of trade names, technology, and customer relationships. These estimates are based on historical experience and information obtained from the management of the acquired companies, and are inherently uncertain.

Goodwill and Other Intangible Assets

Goodwill and indefinite-lived trademarks are tested for impairment at least annually, and whenever events or changes in circumstances occur indicating that it is "more likely than not" impairment may have been incurred. The Company has the option to first assess qualitative factors to determine whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying value as a basis for determining if it is necessary to perform the quantitative goodwill impairment test. However, if the Company concludes otherwise, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing it against its carrying value. If the fair value exceeds the carrying value, no further evaluation is required and no impairment loss is recognized. An impairment charge would be recognized to the extent the carrying value of goodwill exceeds the reporting unit fair value.

The indefinite-lived trade names are tested for impairment either by employing the qualitative approach outlined above, or by comparing the carrying value to the fair value based on current revenue projections of the related operations, under the relief from royalty method. Any excess carrying value over the applicable fair value is recognized as impairment. Any impairment would be recognized in the reporting period in which it has been identified.

The Company's requires goodwill and indefinite-lived asset annual impairment test is completed as of the first day of the fourth fiscal quarter each year. As described in Note 5 to the consolidated financial statements, the 2024, 2023 and 2022 annual impairment tests resulted in no impairment.

Definite-lived intangible assets, such as customer relationships, patents and acquired technology, non-competition agreements, and certain trade names are amortized on a straight-line method over their estimated useful lives. Patents and acquired technology are being amortized over useful lives of seven to twenty years. Customer relationships are being amortized over useful lives of five to fifteen years. Trade names are being amortized over useful lives of seven to ten years. Non-competition agreements are being amortized over periods of five to ten years. The Company continually evaluates the reasonableness of the useful lives of these assets. Additionally, the Company reviews the carrying values of these assets for possible impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable based on undiscounted estimated cash flows expected to result from its use and eventual disposition.
Impairment of Long-Lived Assets
The carrying value of long-lived assets held-and-used, other than goodwill and indefinite-lived intangible assets, is evaluated when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from such asset group are separately identifiable and are less than the carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived asset group. Fair market value is determined primarily using present value techniques based on projected cash flows from the asset group. Losses on long-lived assets held-for-sale, other than goodwill and indefinite-lived intangible assets, are determined in a similar manner, except that fair market values are reduced for disposal costs.
Foreign Currency Translation
The Company has significant operations outside of the United States. The Company's operations in Europe, Canada, and certain locations in Asia primarily generate and expend cash in local currencies, and accordingly, these subsidiaries utilize the local currency as their functional currency. The Company’s operations in Israel and certain locations in Asia primarily generate cash in U.S. dollars, and accordingly, these subsidiaries utilize the U.S. dollar as their functional currency.
For those subsidiaries where the local currency is the functional currency, assets and liabilities in the consolidated balance sheets have been translated at the rate of exchange as of the balance sheet date. Revenues and expenses are translated at the average exchange rate for the year. Translation adjustments do not impact the consolidated statements of operations and are reported as a separate component of accumulated other comprehensive loss within the statement of comprehensive income. Foreign currency transaction gains and losses are included in the results of operations.
For those foreign subsidiaries where the U.S. dollar is the functional currency, all foreign currency financial statement amounts are remeasured into U.S. dollars. Exchange gains and losses arising from remeasurement of foreign currency-denominated monetary assets and liabilities are included in the consolidated statements of operations.
Share-Based Compensation
Compensation costs related to share-based payments are recognized in the consolidated financial statements. The amount of compensation cost is measured based on the grant-date fair value of the equity instruments issued. For service-based awards, compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award. The Company recognizes forfeitures as they occur. For performance based awards, the Company recognizes compensation cost for awards that are expected to vest based on whether performance criteria are expected to be met.
Leases
The Company determines if an arrangement is or contains a lease at inception or modification of such agreement. The arrangement is or contains a lease if the contract conveys the right to control the use of the identified asset for a period in exchange for consideration.
Lease right of use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected term at commencement date. As the implicit rate is not determinable in most of the Company's leases, the Company's incremental borrowing rate is used as the basis to determine the present value of future lease payments. The expected lease terms include options to extend or terminate. The period which is subject to an option to extend the lease is included in the lease term if it is reasonably certain that the option will be exercised. Some of these leases contain variable payment provisions that depend on an index or rate, initially measured using the index or rate at the lease commencement date and are therefore not included in our future minimum lease payments. Variable payments are expensed in the periods incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. The Company uses the practical expedients to exclude from balance sheet reporting leases with initial terms of 12 months or less and to exclude non-lease components from lease right of use assets and corresponding liabilities.
Commitments and Contingencies
Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated.
Recent Accounting Pronouncements
The Company evaluates the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB").

Recent accounting pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU also allows, in addition to the measure that is most consistent with U.S. GAAP, the disclosure of additional measures of segment profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent interim periods, with early adoption permitted. As part of this Annual Report, the Company adopted ASU 2023-07, which was applied retrospectively to all prior periods presented. Refer to Note 14 herein for further details regarding this adoption.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. Adoption of this ASU should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), Disaggregation of Income Statement Expenses. This update aims to enhance the transparency of financial reporting by requiring public business entities (PBEs) to provide disaggregated disclosure of certain income statement expense captions into specified categories in disclosures within the footnotes to the financial statements. The ASU is effective for annual fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. Adoption of this ASU should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
v3.25.0.1
Revenues
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands):
Year to date December 31, 2024
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$38,500 $44,599 $50,758 $133,857 
Europe31,827 49,900 5,676 87,403 
Israel19,156 376 — 19,532 
Asia22,755 12,207 9,283 44,245 
Canada— 123 21,362 21,485 
$112,238 $107,205 $87,079 $306,522 
Year to date December 31, 2023
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$49,998 $55,421 $55,703 $161,123 
Europe36,095 53,629 5,790 95,513 
Israel17,772 292 — 18,064 
Asia35,918 13,156 8,861 57,935 
Canada— 30 22,383 22,413 
$139,783 $122,528 $92,737 $355,048 
Year to date December 31, 2022
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$51,246 $58,076 $52,435 $161,757 
Europe35,419 53,188 5,740 94,347 
Israel28,413 470 — 28,883 
Asia37,143 13,974 7,537 58,654 
Canada— 8 18,932 18,940 
$152,221 $125,715 $84,644 $362,580 


The following table disaggregates net revenue by market sector (in thousands):
Years Ended December 31,
202420232022
Test & Measurement$57,314 $73,986 $78,406 
Avionics, Military & Space28,066 38,270 31,399 
Transportation52,329 55,060 55,892 
Other Markets62,776 72,372 79,750 
Industrial Weighing37,591 43,898 52,109 
General Industrial19,341 19,917 21,179 
Steel49,105 51,545 43,845 
$306,522 $355,048 $362,580 

Contract Assets & Liabilities

Contract assets are established when revenues are recognized prior to a contractual payment due from the customer. When a payment becomes due based on the contract terms, the Company will reduce the contract asset and record a receivable. Contract liabilities are deferred revenues that are recorded when cash payments are received or due in advance of our performance obligations. Our payment terms vary by the type and location of the products offered. The term between invoicing and when payment is due is not significant.

The outstanding contract assets and liability accounts were as follows (in thousands):
Contract AssetContract Liability
Unbilled RevenueAccrued Customer Advances
December 31, 2023$2,989 $8,712 
December 31, 2024$3,330 $8,272 
(Decrease) Increase$341 $(440)
The amount of revenue recognized during the year ended December 31, 2024 that was included in the contract liability balance at December 31, 2023 was $7.8 million.
v3.25.0.1
Acquisition Activity
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisition Activity Acquisition Activity
Nokra

On September 30, 2024, the Company completed the acquisition of Nokra, a German-based, privately held maker of precision measuring and testing equipment for manufacturing, for a purchase price of $4.4 million.
Nokra’s laser-based measuring systems expand our existing measurement and inspection solutions for steel and aluminum rolling mills, as well as for the metal processing industry. Nokra’s laser-based measurement gauge systems are used to precisely measure the thickness, flatness, contour, width or 3D profile of various metals depending on the application , in both inline and offline production. The Company used cash on hand to fund the purchase under the purchase agreement. Nokra reports into the Company's Measurement Systems segment.
The following table summarizes the provisional fair values assigned to the assets and liabilities of Nokra as of September 30, 2024 (in thousands):
September 30, 2024
Working capital1,214 
Property and equipment113 
Deferred income tax liability(31)
Intangible assets:
Acquired technology1,211 
Customer backlog141 
Total intangible assets1,352 
Fair value of acquired identifiable assets2,648 
Purchase price$4,409 
Goodwill$1,761 
(a) Working capital accounts include accounts receivable, inventory, prepaid expenses, accounts payable, accrued expenses, and accrued payroll.

The Company utilizes certain valuations and studies to determine the fair value of the tangible and intangible assets acquired. The estimated weighted average useful life for the acquired technology is 10 years and for customer backlog is 1 year. None of the goodwill associated with Nokra is deductible for income tax purposes. The Company recorded acquisition costs associated with this transaction of $0.1 million in the fourth quarter of 2024, which included legal fees.
v3.25.0.1
Assets held for sale
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Assets held for sale Assets held for sale
During the fourth quarter of 2024, the Company committed to a plan to sell its manufacturing facility located at Kent, Washington (Weighing Solutions Segment) as part of the Company’s ongoing strategy to focus on core operations and optimize its asset base utilization.
The Company determined that the criteria for classifying the asset as held for sale as of December 31, 2024, have been met. Accordingly, the carrying value of the asset is presented separately as a current asset in the consolidated balance sheet.
The Company expects to complete the sale within the next 12 months at a price which is higher than the carrying value of the asset.
A summary of the assets held for sale is included in the table below as of December 31, 2024:
LocationAsset CategoryCostAccumulated DepreciationNet Carrying Value
Kent, WashingtonLand$1,800 $— $1,800 
Building & Improvements$4,910 $1,481 $3,429 
$6,710 $1,481 $5,229 
v3.25.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The Company has four reporting units to which goodwill was allocated: steel, on-board weighing, DSI, and DTS. In 2024 the Company performed a quantitative impairment test for all its reporting units. In estimating the fair value of our reporting units the Company used the income approach. The income approach to valuation requires management to make significant estimates and assumptions related to future revenues, profitability, working capital requirements and selection of discount rate and long term growth rate. Changes in these estimates and assumptions could have a significant impact on the fair value of the reporting units. If the fair value exceeds the carrying value, no further evaluation is required and no impairment loss is recognized. An impairment charge would be recognized to the extent the carrying value of goodwill exceeds the reporting unit fair value.
The Company's requires goodwill and indefinite-lived asset annual impairment test is completed as of the first day of the fourth fiscal quarter each year. In 2024, 2023 and 2022, the results of the quantitative impairment test for all reporting units indicated that the fair value of the reporting units exceeded their carrying values, and therefore no impairment was recognized.
The change in the carrying value of goodwill by segment is as follows (in thousands):
TotalMeasurement SystemsWeighing Solutions
Steel Nokra DSI DTS On-board Weighing
Balance at January 1, 202345,544 6,313 — 16,887 16,033 6,311 
Foreign currency translation adjustment190 175 — 15 — — 
Balance at December 31, 202345,734 6,488 — 16,902 16,033 6,311 
Goodwill acquired1,761 — 1,761 — — — 
Foreign currency translation adjustment(676)(524)(128)(24)— — 
Balance at December 31, 202446,819 5,964 1,633 16,878 16,033 6,311 

Intangible assets were as follows (in thousands):
December 31,
20242023
Intangible assets subject to amortization
(Definite-lived):
Patents and acquired technology$31,890 $32,752 
Customer relationships32,683 33,537 
Trade names3,236 1,517 
Non-competition agreements9,250 9,956 
 77,059 77,762 
Accumulated amortization:
Patents and acquired technology(10,937)(11,048)
Customer relationships(19,453)(18,306)
Trade names(3,235)(1,517)
Non-competition agreements(9,218)(9,939)
 (42,843)(40,810)
Net intangible assets subject to amortization$34,216 $36,952 
Intangible assets not subject to amortization
(Indefinite-lived):
Trade names7,599 7,682 
$41,815 $44,634 
Certain intangible assets are subject to foreign currency translation.
Amortization expense was $3.8 million, $3.8 million, and $3.9 million, for the years ended December 31, 2024, 2023, and 2022, respectively.
Estimated annual amortization expense for each of the next five years is as follows (in thousands):
2025$3,836 
20263,748 
20273,713 
20283,172 
20293,128 
v3.25.0.1
Restructuring Costs
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Costs Restructuring Costs
Restructuring costs reflect the cost reduction programs implemented by the Company. Restructuring costs are expensed during the period in which the Company determines it will incur those costs and all requirements for accrual are met. Because these costs are recorded based upon estimates, actual expenditures for the restructuring activities may differ from the initially recorded costs. If the initial estimates are too low or too high, the Company could be required to either record additional expense in future periods or to reverse part of the previously recorded charges.
The Company recorded restructuring costs of $1.1 million, $1.6 million, and $1.5 million during the years ended December 31, 2024, 2023, and 2022, respectively. The restructuring costs were comprised primarily of employee termination costs, including severance and statutory retirement allowances, and were incurred in connection with various cost reduction programs.
The following table summarizes the activity to date related to these programs in the accrued restructuring liability, which is comprised of the activity associated primarily with the employee termination costs. The accrued restructuring liability balance as of December 31, 2024 and 2023, respectively, is included in other accrued expenses in the accompanying consolidated balance sheets (in thousands):
December 31,
20242023
Balance at beginning of year$249 $183 
Restructuring charges1,062 1,560 
Cash payments(949)(1,496)
Foreign currency translation(127)2 
Balance at end of year$235 $249 
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For financial reporting purposes, income before taxes includes the following components (in thousands):
Years ended December 31,
202420232022
Domestic$11,651 $(4,111)$(4,979)
Foreign5,913 42,547 50,067 
$17,564 $38,436 $45,088 
The expense (benefit) for income taxes is comprised of (in thousands):
Years ended December 31,
202420232022
Current:
Federal$331 $517 $21 
State and local75 162 97 
Foreign7,255 11,903 10,457 
7,661 12,582 10,575 
Deferred:
Federal19 154 (2,808)
State and local(63)(628)109 
Foreign113 318 659 
69 (156)(2,040)
Total income tax expense $7,730 $12,426 $8,535 
A reconciliation of income tax expense (benefit) at the U.S. federal statutory income tax rate to the actual income tax provision is as follows (in thousands):
Years ended December 31,
202420232022
Tax at statutory rate$3,688 $8,072 $9,468 
State income taxes, net of U.S. federal tax benefit9 (368)164 
U.S. GILTI tax, net of foreign tax credits41 72 8 
Effect of foreign operations2,688 2,378 1,246 
Residual U.S. tax on foreign earnings49 899 291 
Change in valuation allowance1,330 1,270 (1,629)
Change in unrecognized tax benefits, net99 476 (1,000)
Specialty tax credits(502)(520)(639)
Statutory rate changes172 56 3 
Effect of foreign exchange(20)128 667 
Other176 (37)(44)
Total income tax expense $7,730 $12,426 $8,535 


In 2024, the Company recognized deferred tax benefits of $0.2 million on net operating loss carryforwards generated in certain foreign jurisdictions, which is included in deferred tax expense (benefit) above.

The 2017 Tax Cuts and Jobs Act subjects a U.S. shareholder to tax on Global Intangible Low-Taxed Income (“GILTI”) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in the future years or provide for tax expense related to GILTI in the year the tax is incurred. The Company has elected to recognize tax expense related to GILTI in the year the tax is incurred.

The Company recognized approximately $8.1 million and $22.5 million of GILTI for the years ended December 31, 2024 and 2023, respectively. The U.S. tax on GILTI, net of foreign tax credits and research credits, was less than $0.1 million for each of the years ended December 31, 2024 and 2023. Any excess foreign tax credits associated with GILTI are lost and cannot be carried forward to future years.

Deferred income taxes represent the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes.
Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
December 31,
20242023
Deferred tax assets:
Pension and other postretirement costs$1,056 $1,082 
Inventories5,066 4,102 
Net operating/capital loss and interest carryforwards12,668 10,800 
Tax credit carryforwards1,952 1,390 
Deferred compensation3,116 2,845 
Research and development costs5,402 4,707 
Other accruals and reserves3,221 3,709 
Total gross deferred tax assets32,481 28,635 
Less: valuation allowance(15,380)(13,136)
17,101 15,499 
Deferred tax liabilities:
Tax over book depreciation(2,387)(2,151)
Investment in subsidiary(2,271)(2,121)
Intangible assets, including tax deductible goodwill(11,241)(10,843)
Total gross deferred tax liabilities(15,899)(15,115)
Net deferred tax assets$1,202 $384 
In 2015, the Company established a valuation allowance with respect to substantially all of its U.S. deferred tax assets due to uncertainty regarding the realization of these assets. Throughout 2023 and 2024, the Company reassessed its ability to realize its U.S. and other deferred tax assets by considering both positive and negative evidence regarding realization. The most significant negative evidence is continuing cumulative operating losses in the U.S. The impact of the acquisitions of Stress-Tek, Pacific Instruments, DSI and DTS was also considered in determining the realization of the U.S. deferred tax assets. Other aspects, such as operating results, additional interest expense and additional tax deductions related to the Stress-Tek acquisition, were also considered. The Company also considered positive evidence such as tax planning strategies and the projected benefits of our restructuring efforts. However, there was insufficient positive evidence to overcome the negative evidence.
On September 30, 2024, the Company acquired Nokra. Nokra's opening balance sheet included a $1.0 million of gross deferred tax assets, and a $1.2 million of indefinite-lived liabilities as a result of the purchase price allocation. The acquisition contributed to a less than $0.1 million net increase in valuation allowance and deferred tax expense for the Company in 2024. The Company has one year from the date of acquisition to finalize the purchase accounting for Nokra.

Overall, the cumulative losses and the acquisition impacts still indicate that realization of our U.S. deferred tax assets remains uncertain such that the Company cannot conclude that it is "more likely than not" that the deferred tax assets will be recoverable. We will continue to monitor the realization of U.S. deferred tax assets and reduce the valuation allowance if, and when, sufficient positive evidence of realization exists. At December 31, 2024 and 2023, the valuation allowance on U.S. deferred tax assets was approximately $13.3 million and $10.9 million, respectively. The net change in this valuation allowance was approximately $2.4 million, of which approximately $0.6 million related to state valuation allowances.

The change in valuation allowance related to state taxes exclusive of rate changes was $0.6 million expense and $0.5 million benefit for the years ended December 31, 2024 and 2023, respectively.

The Company also has valuation allowances of $2.1 million and $2.2 million at December 31, 2024 and 2023, respectively, with respect to certain foreign net operating loss and capital loss carryforwards.

Significant valuation allowances are as follows (in thousands):
December 31,
Jurisdiction20242023
U.S. federal$6,185 $4,402 
U.S. state (net of U.S. federal tax benefit)7,122 6,545 
Israel - capital losses1,364 1,369 
The following table summarizes significant net operating losses, capital losses and credit carryforwards as of December 31, 2024 (in thousands):
December 31,
Jurisdiction2024Expiring
U.S. federal net operating losses$2,801 No expiration
U.S. federal interest expense carryover18,568 No expiration
U.S. foreign tax credit498 2028-2034
U.S. state net operating losses122,196 2024-2044
Israel capital losses5,908 No expiration
Utilization of U.S. federal net operating losses is taken into account before the GILTI deduction allowable by IRC Section 250.
Undistributed earnings of the Company’s foreign subsidiaries were approximately $300.5 million at December 31, 2024 compared to $277.6 million at December 31, 2023. As of December 31, 2024, the Company had provided for a deferred tax liability of approximately $2.3 million of withholding tax associated with $25.3 million of unremitted, non-permanently reinvested earnings. Substantially all of the remaining undistributed earnings are considered to be indefinitely reinvested and accordingly no provision has been made with respect to these earnings for incremental foreign income taxes, state income taxes or foreign withholding taxes. If those earnings were distributed to the U.S., the Company could be subject to incremental foreign income taxes, state income taxes, and withholding taxes. Determination of the amount of unrecognized deferred tax liability is not practicable because of the uncertainty regarding the timing of any such distribution and the impact on existing valuation allowances. In addition to the $2.3 million, additional withholding taxes of approximately $32.0 million are estimated to be payable upon distribution of the remaining previously unremitted earnings as of December 31, 2024.

Net income taxes paid were $14.5 million, $10.9 million and $10.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The Company and its subsidiaries are subject to income taxes imposed by the U.S., various states, and the foreign jurisdictions in which we operate. Each jurisdiction establishes rules that set forth the years which are subject to examination by its tax authorities. While the Company believes the tax positions taken on its tax returns for each jurisdiction are supportable, they may still be challenged by the jurisdiction's tax authorities. In anticipation of such challenges, the Company has established reserves for tax-related uncertainties. These liabilities are based on the Company’s best estimate of the potential tax exposures in each respective jurisdiction. It may take a number of years for a final tax liability in a jurisdiction to be determined, particularly in the event of an audit. If an uncertain matter is determined favorably, there could be a reduction in the Company’s tax expense. An unfavorable determination could increase tax expense and could require a cash payment, including interest and penalties.
The following table summarizes changes in the Company's gross liabilities, excluding interest and penalties, associated with unrecognized tax benefits (in thousands):
December 31,
202420232022
Balance at beginning of year$798 $439 $1,282 
Addition based on tax positions related to current year105 589 176 
Addition based on tax positions related to prior years— — 216 
Reduction based on tax positions related to prior years— (128)— 
Currency translation adjustments(5)(8)(6)
Reduction for settled tax examinations— — (1,229)
Reduction for payments made— (94)— 
Reduction for lapses of statute of limitations(54)— — 
Balance at end of year$844 $798 $439 
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Related to the unrecognized tax benefits noted above, for the years ended December 31, 2024, 2023 and 2022, the Company accrued total penalties and interest of 0.0 million, $0.0 million and $(0.2) million, respectively. As of December 31, 2024, 2023 and 2022, accrued penalties and interest were $0.1 million, $0.0 million and $0.0 million, respectively.

Included in the balance of unrecognized tax benefits as of December 31, 2024, 2023, and 2022 is $0.8 million, $0.8 million, and $0.4 million, respectively, of tax benefits that, if recognized, would impact the effective tax rate. The Company believes that it is reasonably possible that an increase in unrecognized tax benefits related to foreign exposures of between $0.1 million and $0.2 million may be necessary in 2025. Furthermore, as of December 31, 2024, the Company does not anticipate that any of its current unrecognized tax benefits will reverse within the next calendar year due to the expiration of the statute of limitations.
The Company and its subsidiaries file U.S. federal income tax returns, as well as income tax returns in various state, local, and foreign jurisdictions. The Company files federal, state, and local income tax returns on a combined, unitary, or stand-alone basis. The statute of limitations in those jurisdictions generally ranges from 3 to 4 years. Additionally, the Company's foreign subsidiaries file income tax returns in the countries in which they have operations and the statutes of limitations in those jurisdictions generally range from 3 to 10 years.
During the first quarter of 2024, a tax examination began of one its subsidiaries in Israel covering the years 2019-2022.
During the second quarter of 2024, the Company concluded a tax examination in France for one of its subsidiaries covering the years 2021 and 2022, which resulted in no change in tax.
During the fourth quarter of 2024, a tax examination began in Germany of three of the Company's subsidiaries. The Company also concluded a tax examination in Taiwan for one of its subsidiaries covering the year 2022, which resulted in no change in tax.
The Company is subject to ongoing income tax audits, administrative appeals and judicial proceedings in India spanning a number of years.
v3.25.0.1
Long-Term Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consists of the following (in thousands):
December 31,
20242023
Credit Agreement - Revolving Facility$32,000 $32,000 
Deferred financing costs(559)(144)
Long-term debt$31,441 $31,856 

2024 Credit Agreement
On August 15, 2024, the Company entered into a Fourth Amended and Restated Credit Agreement (the “2024 Credit Agreement”) among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A. and HSBC as joint lead arrangers and joint bookrunner, and JPMorgan Chase Bank, N.A., as agent for such lenders, pursuant to which the existing Credit Agreement, was amended and restated to, among other things, extend the maturity date from March 20, 2025 to August 15, 2029 and adjust the interest rate and commitment fee. The 2024 Credit Agreement provides for a multi-currency, secured credit facility (the “2024 Revolving Facility”) in an aggregate principal amount of $75.0 million, with a sublimit of $10 million which can be used for letters of credit for the account of the Company or its subsidiaries that are parties to the 2024 Credit Agreement, the proceeds of which may be used for working capital and general corporate purposes, and a portion of which were used to refinance the existing credit facility. The aggregate principal amount of the 2024 Revolving Facility may be increased by a maximum of $25.0 million upon the request of the Company, subject to the terms of the 2024 Credit Agreement. The Company may elect to make loans under the 2024 Revolving Facility in US Dollars, Euros, Canadian Dollars, Sterling, Japanese Yen or such other freely convertible foreign currency.

Amounts borrowed under the 2024 Revolving Facility accrue interest in an amount equal to a floating rate plus a specified margin. Such floating rates are (i) for loans denominated in US Dollars, at the Company’s option, either (a) the greatest of: the Agent’s prime rate, the Federal Funds rate, or a 0.01 floor (the “US Base Rate”), or (b) the SOFR, (ii) for loans denominated in Canadian Dollars, at the Company’s option, either (x) the greatest of: the PRIMCAN Index rate, the average 30 days rate for loans accruing interest based on the Canadian Overnight Repo Rate Average (“CORRA”) (the “Canadian Base Rate”), or (y) CORRA, (iii) for loans denominated in Pounds Sterling, the Sterling Overnight Index Average (“SONIA”), (iv) for loans denominated in Euros, the Euro Interbank Offered Rate (“EURIBOR"), and (v) for loans denominated in Japanese Yen, the Tokyo Interbank Offered Rate (“TIBOR”). The specified interest margin for US Base Rate Loans and Canadian Base Rate Loans is 0.25%. Depending upon the Company’s leverage ratio, the interest rate margin for loans based on SOFR, CORRA, SONIA, EURIBOR and TIBOR ranges from 1.75% to 3.00% per annum. The Company is required to pay a quarterly fee of 0.20% per annum to 0.40% per annum on the unused portion of the 2024 Revolving Facility, which is also determined based on the Company’s leverage ratio. Additional customary fees apply with respect to letters of credit.
The obligations of the Company under the 2024 Credit Agreement are secured by pledges of stock in certain domestic and foreign subsidiaries, as well as guarantees by substantially all of the Company’s domestic subsidiaries. The obligations of the Company and the guarantors under the 2024 Credit Agreement are secured by substantially all the assets (excluding real estate) of the Company and such guarantors. The 2024 Credit Agreement restricts the Company from paying cash dividends and requires the Company to comply with other customary covenants, representations, and warranties, including the maintenance of specific financial ratios. The financial maintenance covenants include an interest coverage ratio and a leverage ratio. The Company was in compliance with its financial maintenance covenants at December 31, 2024. If the Company is not in compliance with any of these covenant restrictions, the credit facility could be terminated by the lenders, and all amounts outstanding pursuant to the credit facility could become immediately payable.
Other Lines of Credit
In addition to the 2024 Revolving Facility discussed above, certain subsidiaries of the Company had committed short-term lines of credit with a foreign bank aggregating approximately $5.0 million and $5.0 million at December 31, 2024 and 2023, respectively. The Company had outstanding letters of credit under these short-term lines of credit of $2.4 million and $2.4 million at December 31, 2024 and 2023, respectively.
Aggregate annual maturities of long-term debt are as follows (in thousands):
2025$— 
2026— 
2027— 
2028— 
202932,000 
Interest paid on third-party debt was $2.5 million, $4.0 million, and $2.3 million during the years ended December 31, 2024, 2023, and 2022, respectively.
v3.25.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders’ Equity
The Company’s Class B convertible common stock carries ten votes per share. The Company common stock carries one vote per share. Class B shares are transferable only to certain permitted transferees. Class B shares are convertible on a one-for-one basis at any time into shares of common stock. Transfers of Class B shares other than to permitted transferees will result in the automatic conversion of the Class B shares into common stock.
The Board of Directors may only declare dividends or other distributions with respect to the common stock or the Class B convertible common stock if it grants such dividends or distributions in the same amount per share with respect to the other class of stock. As discussed in Note 7, the Company is restricted from paying cash dividends. Stock dividends or distributions, on any class of stock, are payable only in shares of stock of that class. Shares of either common stock or Class B convertible common stock cannot be split, divided, or combined unless the other is also split, divided, or combined equally.
On August 8, 2022, the Board of Directors of the Company authorized the repurchase of up to 600,000 shares of the Company’s outstanding common stock (the “Stock Repurchase Plan”). The Stock Repurchase Plan was originally set to expire on August 11, 2023, and the Board authorized purchases thereunder to be made through an issuer repurchase plan adopted under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), open market purchases or private transactions, in accordance with the applicable federal securities laws, including Rule 10b-18 under the Exchange Act. On August 8, 2023, the Company announced that its Board of Directors extended the term of the previously approved stock repurchase plan to August 9, 2024. The Stock Repurchase Plan expired in accordance with its terms on August 9, 2024.
From August 8, 2022 to August 9, 2024, the Company had repurchased an aggregate of 518,328 shares of its common stock under the Stock Repurchase Plan.
The Board of Directors is authorized, without further stockholder approval, to issue from time to time up to an aggregate of 1,000,000 shares of preferred stock in one or more series. The Board of Directors may fix or alter the designation, preferences, rights and any qualification, limitations, restrictions of the shares of any series, including the dividend rights, dividend rates, conversion rights, voting rights, redemption terms and prices, liquidation preferences and the number of shares constituting any series. No shares of the Company’s preferred stock are currently outstanding.
Other Comprehensive Income (Loss)
The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows (in thousands):
Beginning
Balance		Before-Tax
Amount		Tax
Effect		Net-of-Tax
Amount		Ending
Balance
December 31, 2022
Pension and other postretirement actuarial items
$(4,732)$5,797 $(1,021)$4,776 $44 
Reclassification adjustment for recognition of actuarial items
— 721 (176)545 545 
Foreign currency translation adjustment
$(30,276)$(11,243)$(161)$(11,404)$(41,680)
Reclassification adjustment for foreign currency translation
— 191 — 191 191 
$(35,008)$(4,534)$(1,358)$(5,892)$(40,900)
December 31, 2023
Pension and other postretirement actuarial items
$589 $(172)$(26)$(198)$391 
Reclassification adjustment for recognition of actuarial items
— 7 (5)2 2 
Foreign currency translation adjustment
(41,489)2,237 (10)2,227 (39,262)
$(40,900)$2,072 $(41)$2,031 $(38,869)
December 31, 2024
Pension and other postretirement actuarial items
$393 $(471)$112 $(359)$34 
Reclassification adjustment for recognition of actuarial items
— (21)5 (16)(16)
Foreign currency translation adjustment
(39,262)(12,147)2,494 (9,653)(48,915)
$(38,869)$(12,639)$2,611 $(10,028)$(48,897)
In 2022, Reclassification of foreign currency translation adjustment for gain on liquidation of a subsidiary is included in other income (expense) other (See Note 15). Reclassifications of pension and other postretirement actuarial items out of accumulated other comprehensive income (loss) are included in the computation of net periodic benefit cost (See Note 9).
v3.25.0.1
Pensions and Other Postretirement Benefits
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits Pensions and Other Postretirement Benefits
Defined Benefit Plans
Employees of the Company participate in various defined benefit pension and other postretirement benefit plans.
U.S. Pension Plan
The Vishay Precision Group Non-Qualified Retirement Plan, like all nonqualified plans, is considered to be unfunded. The Company maintains a nonqualified trust, referred to as a “rabbi” trust, to fund benefits under this plan. Rabbi trust assets are subject to creditor claims under certain conditions and are not the property of employees. Therefore, they are accounted for as other noncurrent assets within the consolidated balance sheets. The assets held in the rabbi trust are invested in money market funds and company-owned life insurance policies. The consolidated balance sheets include assets held in trust related to the nonqualified pension plan of $1.6 million at December 31, 2024 and $1.6 million at December 31, 2023, and the related liabilities of $2.1 million and $2.1 million at December 31, 2024 and 2023, respectively.
The Vishay Precision Group Non-Qualified Retirement Plan is frozen. Accordingly, no new employees may participate in the plan, no further participant contributions are permitted, and no further benefits accrue. Benefits accumulated prior to the freezing of the U.S. pension plan will be paid to employees upon retirement, and the Company will likely need to make additional cash contributions to the rabbi trust to fund this accumulated benefit obligation.
Non-U.S. Pension Plans
The Company provides pension and similar benefits to employees of certain non-U.S. subsidiaries consistent with local practices. Pension benefits earned are generally based on years of service and compensation during active employment.
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to pension plans (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Change in benefit obligation:
Benefit obligation at beginning of year$2,098 $16,467 $2,050 $15,853 
Service cost (adjusted for actual employee contributions)— 264 — 265 
Interest cost96 670 97 675 
Actuarial loss/(gains)(89)(1,015)59 6 
Benefits paid(108)(628)(108)(573)
Curtailments and settlements— (199)— (310)
Currency translation— (557)— 551 
Benefit obligation at end of year$1,997 $15,002 $2,098 $16,467 
Change in plan assets:
Fair value of plan assets at beginning of year$— $18,319 $— $16,248 
Actual return on plan assets— (794)— 855 
Company contributions— 456 — 875 
Benefits paid— (628)— (573)
Currency translation— (398)— 914 
Fair value of plan assets at end of year$— $16,955 $— $18,319 
Funded status at end of year$(1,997)$1,953 $(2,098)$1,852 
Actuarial gains incurred in 2024 related to our U.S. and non-U.S. plans are primarily the result of the decrease discount rate assumptions used to estimate the benefit obligation as of December 31, 2024 compared to December 31, 2023. Actuarial gains incurred in 2023 related to our U.S. and non-U.S. plans are primarily the result of an increase in the discount rate assumptions used to estimate the benefit obligations as of December 31, 2023 compared to December 31, 2022.
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Other assets$— $4,155 $— $4,573 
Other accrued expenses$(145)$(161)$(140)$(85)
Accrued pension and other postretirement costs$(1,852)$(2,041)$(1,958)$(2,636)
Accumulated other comprehensive loss$107 $961 $196 $492 
$(1,890)$2,914 $(1,902)$2,344 
Unrecognized actuarial gains and losses arise from several factors, including experience and assumption changes with respect to the obligations and from the difference between expected returns and actual returns on plan assets.  Actuarial items consist of the following (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Unrecognized net actuarial loss$107 $921 $196 $448 
Unrecognized prior service cost— 40 — 44 
$107 $961 $196 $492 
The following table sets forth additional information regarding the projected and accumulated benefit obligations for the pension plans (in thousands):
December 31, 2024
U.S.
Plans		Non-U.S.
Plans
Accumulated benefit obligation, all plans
$1,997 $12,940 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$1,997 $2,377 
Accumulated benefit obligation
$1,997 $1,812 

December 31, 2023
U.S.
Plans		Non-U.S.
Plans
Accumulated benefit obligation, all plans
$2,098 $14,992 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$2,098 $2,842 
Accumulated benefit obligation
$2,098 $2,203 

Unrecognized gains and losses are amortized into future net periodic pension cost using the 10% corridor method over the expected remaining service life of the employee group.  The following table sets forth the components of net periodic cost of pension (in thousands):
Years ended December 31,
202420232022
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Annual service cost
$— $264 $— $265 $— $308 
Interest cost
96 670 97 675 65 395 
Expected return on plan assets
— (844)— (879)— (454)
Amortization of actuarial losses
— 30 — 39 22 736 
Amortization of prior service cost— (10)— (10)— — 
Amortization of transition obligation
— — — — — (40)
Curtailment and settlement losses
— 18 — 50 — (512)
Net periodic benefit cost
$96 $128 $97 $140 $87 $433 
See Note 8 for the pre-tax, tax effect, and after tax amounts included in other comprehensive income during the years ended December 31, 2024, 2023, and 2022.
The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
20242023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Discount rate5.35 %4.76 %4.71 %4.19 %
Rate of compensation increaseN/A4.51 %N/A4.00 %
Expected return on plan assetsN/A4.18 %N/A5.13 %
The following weighted-average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2024 and 2023:
20242023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Discount rate4.71 %4.19 %4.91 %4.23 %
Rate of compensation increaseN/A4.00 %N/A2.49 %
Expected return on plan assetsN/A5.13 %N/A3.96 %
The plans’ expected return on assets is based on management’s expectation of long-term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, management considers historical and expected returns for the asset classes in which the plans are invested, advice from pension consultants and investment advisors, and current economic and capital market conditions.
The investment mix between equity securities and fixed income securities is based upon achieving a desired return, balancing higher return, more volatile equity securities, and lower return, less volatile fixed income securities. The target allocation of plan assets approximates the actual allocation of plan assets at December 31, 2024 and 2023.
Plan assets are comprised of:
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Equity securities— — %— — %
Fixed income securities— 72 %— 84 %
Cash and cash equivalents— 28 %— 16 %
Total— 100 %— 100 %
The Company maintains defined benefit retirement plans in certain of its subsidiaries. The assets of the plans are measured at fair value.
Equity securities held by the defined benefit retirement plans consist of equity securities that are valued based on quoted market prices on the last business day of the year. The fair value measurement of the equity securities is considered a Level 2 measurement within the fair value hierarchy.
Fixed income securities held by the defined benefit retirement plans consist of government bonds and corporate notes that are valued based on quoted market prices on the last business day of the year. The fair value measurement of the fixed income securities is considered a Level 2 measurement within the fair value hierarchy.
Cash held by the defined benefit retirement plans consists of deposits on account in various financial institutions. The carrying amount of the cash approximates its fair value. A summary of the Company’s pension plan assets for each fair value hierarchy level are as follows for the periods presented (see Note 17 for further description of the levels within the fair value hierarchy (in thousands)):
As of December 31, 2024Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$— $— $— $— 
Fixed income securities12,123 — 12,123 — 
Cash and cash equivalents4,832 1,780 3,052 — 
$16,955 $1,780 $15,175 $— 

As of December 31, 2023Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$— $— $— $— 
Fixed income securities15,417 — 15,417 — 
Cash and cash equivalents2,902 1,637 1,265 — 
$18,319 $1,637 $16,682 $— 

Estimated future benefit payments are as follows (in thousands):
US Pension
Plans		Non-US
Plans
2025$145 $813 
2026145 634 
2027145 790 
2028176 720 
2029174 1,106 
2030-2034812 6,112 
The Company anticipates making contributions to its funded and unfunded pension of approximately $1.2 million during 2025.

Other Postretirement Benefit Plans
In the U.S., the Company maintains two unfunded non-pension other postretirement benefit plans (“OPEB”) which are funded as costs are incurred. These plans provide medical and death benefits to retirees.
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to other postretirement benefit plans (in thousands):
OPEB Plans
December 31,
20242023
Change in benefit obligation:
Benefit obligation at beginning of year$2,490 $2,386 
Service cost (adjusted for actual employee contributions)16 17 
Interest cost110 111 
Contributions by participants— — 
Actuarial losses/(gains)(211)95 
Benefits paid(128)(119)
Plan amendments and other— — 
Benefit obligation at end of year$2,277 $2,490 
Change in plan assets:
Fair value of plan assets at beginning of year$— $— 
Company contributions128 119 
Contributions by participants— — 
Benefits paid(128)(119)
Fair value of plan assets at end of year$— $— 
Funded status at end of year$(2,277)$(2,490)
Actuarial gains incurred in 2024 related to our post-retirement plans are primarily the result of the increase discount rate assumptions used to estimate the benefit obligation as of December 31, 2024 compared to December 31, 2023. Actuarial losses incurred in 2023 related to our post-retirement plans are primarily the result of the decrease discount rate assumptions used to estimate the benefit obligation as of December 31, 2023 compared to December 31, 2022.
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
OPEB Plans
December 31,
20242023
Other accrued expenses$(290)$(286)
Accrued pension and other postretirement costs$(1,987)$(2,204)
Accumulated other comprehensive gain$(566)$(367)
$(2,843)$(2,857)
Actuarial items consist of the following (in thousands):
OPEB Plans
December 31,
20242023
Unrecognized net actuarial gain$(566)$(367)
$(566)$(367)


Unrecognized gains and losses are amortized into future net periodic benefit cost using the 10% corridor method over the expected remaining service life of the employee group.  The following table sets forth the components of net periodic benefit costs (in thousands):
OPEB Plans
Years ended December 31,
202420232022
OPEB
Plans		OPEB
Plans		OPEB
Plans
Net service cost
16 17 29 
Interest cost
110 111 67 
Amortization of actuarial (gains)/ losses(11)(22)3 
Net periodic benefit cost
$115 $106 $99 
See Note 8 for the pre-tax, tax effect, and after tax amounts included in other comprehensive income during the years ended December 31, 2024, 2023, and 2022.

The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
OPEB Plans
December 31,
20242023
Discount rate5.33 %4.69 %

The following weighted-average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2024 and 2023:
OPEB Plans
December 31,
20242023
Discount rate4.69 %4.88 %
Health care trend rate6.50 %6.50 %
The health care trend ultimate rate is 4.04% per the terms of the plan. The impact of a one-percentage-point change in assumed health care cost trend rates on the net periodic benefit cost and postretirement benefit obligation is not material.
Estimated future benefit payments are as follows (in thousands):
OPEB
Plans
2025$290 
2026251 
2027256 
2028205 
2029153 
2029-2033726 
As the plans are unfunded, the Company's anticipated contributions for 2024 are equal to the estimated benefit payment.


Other Retirement Obligations
The Company participates in various other defined contribution plans based on local law or custom. The Company periodically makes contributions to these plans. At December 31, 2024 and 2023, the consolidated balance sheets include $0.5 million and $0.5 million, respectively, within accrued pension and other postretirement costs related to these plans.
Most of the Company’s U.S. employees are eligible to participate in 401(k) savings plans which provide company matching under various formulas. The Company’s matching expense for the plans was $1.2 million, $1.2 million and $1.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. No material amounts are included in the consolidated balance sheets related to unfunded 401(k) contributions.
Certain key employees participate in a nonqualified deferred compensation plan, which allows these employees to defer a portion of their compensation until retirement, or elect shorter deferral periods. The accompanying consolidated balance sheets include a liability within other noncurrent liabilities related to these deferrals. The Company maintains a nonqualified trust, referred to as a “rabbi” trust, to fund payments under this plan. Rabbi trust assets are subject to creditor claims under certain conditions and are not the property of employees. Therefore, they are accounted for as other noncurrent assets within the consolidated balance sheets. The assets held in the rabbi trust are invested in money market funds and company-owned life insurance policies. The consolidated balance sheets include assets held in trust related to the nonqualified deferred compensation plan of $4.6 million and $4.3 million at December 31, 2024 and 2023 respectively, and the related liabilities of $5.9 million and $5.6 million at December 31, 2024 and 2023, respectively.
In July 2024, the UK Court of Appeal upheld a ruling in the matter of Virgin Media Limited versus NTL Pension Trustees II Limited, that certain historical amendments for contracted out defined benefit schemes were invalid if they were not accompanied by the correct actuarial confirmation, a decision that the Company was not a party to or involved in and could impact the Company’s non US pension plan in the UK. The Company and its UK pension scheme trustee are reviewing this development, along with its actuaries, and considering whether this decision has any implications for its UK pension plan.
v3.25.0.1
Share-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The Vishay Precision Group, Inc. 2022 Stock Incentive Plan (the "2022 plan") permits the issuance of up to 608,000 shares of common stock. At December 31, 2024 the Company had reserved 440,970 shares of common stock for future grant of equity awards (restricted stock, unrestricted stock, restricted stock units (“RSUs”), or stock options) pursuant to the 2022 Plan. If any outstanding awards are forfeited by the holder or canceled by the Company, the underlying shares would be available for re-grant to others. If shares are withheld for payment of taxes, those shares do not become available for future grant under the 2022 plan.
Restricted Stock Units
Pursuant to the 2022 plan, the Company issued RSUs to board members, executive officers, and certain employees of the Company during 2024. The amount of compensation cost related to share-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. VPG determines compensation cost for RSUs based on the grant-date fair value of the underlying common stock. Compensation cost is recognized over the period that the participant provides service in exchange for the award. The Company recognizes compensation cost for RSUs that are expected to vest and for which performance criteria are expected to be met.
On March 7, 2024 and in accordance with their respective employment agreements, VPG’s three executive officers were granted annual equity awards in the form of RSUs, of which 50% are performance-based. The awards have an aggregate target grant-date fair value of $1.7 million and were comprised of 49,190 RSUs. Fifty percent of these awards will vest on January 1, 2027, subject to the executives’ continued employment. The performance-based portion of the RSUs will also vest on January 1, 2027, subject to the executives' continued employment and the satisfaction of certain performance objectives relating to three-year cumulative “adjusted free cash flow” and "net earnings goals", each weighted equally.
On March 7, 2024, certain non-executive VPG employees were granted annual equity awards in the form of RSUs. Certain employees received awards, of which 75% are performance-based and certain employees received awards of which 50% are performance-based. The awards have an aggregate grant-date fair value of $0.6 million and were comprised of 16,821 RSUs. The non-performance portion of these awards (twenty-five percent for certain employees and fifty percent for certain employees) will vest on January 1, 2027, subject to the employees' continued employment. The performance-based portion of the RSUs will also vest on January 1, 2027, subject to the employees' continued employment and the satisfaction of certain performance objectives relating to three-year cumulative earnings and cash flow goals, each weighted equally.
On May 22, 2024, and in accordance with the Company's 2024 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 14,826 RSUs to the independent board members of the Board of Directors. The awards have an aggregate grant-date fair value of $0.5 million and will vest on or before the 2025 Annual Stockholders
Meeting in May 2025, subject to each applicable director's continued service on the Board of Directors. Vesting of equity awards is subject to acceleration under certain circumstances.

On August 14, 2024, and in accordance with the Company's 2024 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 2,265 RSUs to an independent board member of the Board of Directors in connection with his appointment to the Board of Directors. The award had an aggregate grant-date fair value of $0.06 million and will vest on or before the 2025 Annual Stockholders Meeting in May 2025, subject to such independent director's continued service on the Board of Directors. Vesting of such equity awards is subject to acceleration under certain circumstances.

On December 4, 2024, and in accordance with the Company's 2024 Non-Employee Director Compensation Plan, the Board of Directors approved the issuance of an aggregate of 1,588 RSUs to an independent board member of the Board of Directors in connection with her appointment to the Board of Directors. The award had an aggregate grant-date fair value of $0.04 and will vest on or before the 2025 Annual Stockholders Meeting in May 2025, subject to such independent director's continued service on the Board of Directors. Vesting of such equity awards is subject to acceleration under certain circumstances.
The amount of compensation cost related to share-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. VPG determines compensation cost for RSUs based on the grant-date fair value of the underlying common stock. The Company recognizes compensation cost for RSUs that are expected to vest and for which performance criteria are expected to be met. The following table summarizes share-based compensation expense recognized (in thousands):
Vesting of equity awards may be subject to acceleration under certain circumstances.
RSU activity is presented below (number of RSUs in thousands):
Years ended December 31,
202420232022
Number
of
RSUs		Weighted
Average
Grant-date
Fair Value		Number
of
RSUs		Weighted
Average
Grant-date
Fair Value		Number
of
RSUs		Weighted
Average
Grant-date
Fair Value
Outstanding:
Beginning of year202 $35.50 204 $29.92 198 $31.07 
Granted85 34.48 72 42.09 82 30.68 
Vested(55)32.68 (67)26.54 (40)34.29 
Forfeited— — (7)24.85 (36)33.15 
End of year232 $35.79 202 $35.50 204 $29.92 
The fair value of the RSUs vested during 2024 was $1.9 million. Included in the 2024, 2023 and 2022 activity are RSU's forfeited as a result of performance objectives not being met. These awards are therefore available for future grants under the Plan.
None of the RSUs with performance-based criteria is expected to vest in the coming 3 years period.

Share-Based Compensation Expense
The following table summarizes pre-tax share-based compensation expense recognized (in thousands):
Years ended December 31,
202420232022
Restricted stock units$971 $2,290 $2,439 
Share-based compensation expense is recognized ratably over the vesting period of the awards and for RSUs with performance criteria, is recognized for RSU's that are expected to vest and for which performance criteria are expected to be met.
During 2024, a net adjustment of $1.5 million decreasing share-based compensation expense was recorded, based on the evaluation of performance objectives associated with awards granted in 2022, 2023 and 2024. It was determined that certain objectives were not likely to be fully met, necessitating a reversal of certain compensation expense associated with those awards.
During 2023, a net adjustment of $0.4 million decreasing share-based compensation expense was recorded, based on the evaluation of performance objectives associated with awards granted in 2021, 2022 and 2023. It was determined that certain objectives were not likely to be fully met, necessitating a reversal of certain compensation expense associated with those awards.
During the fourth quarter of 2022, a net adjustment of $0.3 million increasing share-based compensation expense was recorded, based on the evaluation of performance objectives associated primarily with awards granted in 2020. It was determined that certain objectives, which were deemed not likely to be met in previous years, were met.
The total tax benefit on share-based compensation expense was $0.2 million, $0.5 million and $0.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. The deferred tax benefit (expense) on share-based compensation expense was $(0.3) million, $0.1 million, and $0.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.
As of December 31, 2024, the Company had $0.3 million of unrecognized share-based compensation expense related to share-based awards that expected to be recognized over a weighted-average period of approximately 0.4 years.
v3.25.0.1
Commitments, Contingencies, and Concentrations
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments Contingencies and Concentrations Commitments, Contingencies, and Concentrations
Tax Assessment
During the second quarter of 2024, the Israel Tax Authority has issued a Value Added Tax (VAT) assessment to the Company, in the amount of ILS 8.4 million (approximately $2.3 million), pertaining to claims of VAT between the years 2019 to 2023.
The Company believes that the liability for the assessment is not probable and files an appeal against this assessment.
Given the stage of this matter, the Company is currently unable to predict the likely outcome or estimate the potential financial impact, if any, of this matter.
Litigation
The Company is subject to various legal proceedings that constitute ordinary, routine litigation incidental to its business. The Company is of the opinion that the disposition of these proceedings will not have a material adverse effect on its business or its financial condition, results of operations, and cash flows.
Executive Employment Agreements
The Company has employment agreements with its executive officers which outline base salary, incentive compensation, and equity-based compensation. The employment agreements with the Company's executive officers also provide for incremental compensation in the event of termination without cause or resignation for good reason.
Sources of Supplies
Although most materials incorporated in the Company’s products are available from a number of sources, certain materials are available only from a relatively limited number of suppliers.
Some of the most highly specialized materials for the Company’s sensors are sourced from a single vendor. The Company maintains a safety stock inventory of certain critical materials at its facilities.
Certain metals used in the manufacture of the Company’s products are traded on active markets, and can be subject to significant price volatility.
Market Concentrations
No single customer comprises greater than 10% of net revenues.
The vast majority of the Company’s products are used in the broad industrial market, with selected uses in military and aerospace, medical, agriculture, and construction. Within the broad industrial segment, the Company’s products serve wide applications in the waste management, bulk hauling, logging, scale manufacturing, engineering systems, pharmaceutical, oil, chemical, steel, paper, and food industries.
Credit Risk Concentrations
Financial instruments with potential credit risk consist principally of cash and cash equivalents, accounts receivable, and notes receivable. The Company maintains cash and cash equivalents with various major financial institutions. Concentrations of credit risk with respect to receivables are generally limited due to the Company’s large number of customers and their dispersion across many countries and industries. At December 31, 2024 and 2023, the Company had no significant concentrations of credit risk.
Geographic Concentrations
At December 31, 2024 and 2023, a significant percentage of the Company’s cash and cash equivalents are held outside the United States. See the following table for the percentage of cash and cash equivalents by region of subsidiary, at December 31, 2024 and December 31, 2023:
December 31,
20242023
Asia21 %22 %
United States6 %8 %
Israel56 %36 %
Europe14 %23 %
Canada3 %11 %
Total100 %100 %
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The Company primarily leases office and manufacturing facilities in addition to vehicles, which have remaining terms of less than one year to eleven years, ten months, thirteen days.
Leases recorded on the balance sheet consist of the following (in thousands):
LeasesDecember 31, 2024December 31, 2023
 Assets
 Operating lease right of use asset$24,316 $26,953 
 Liabilities
 Operating lease - current$3,998 $4,004 
 Operating lease - non-current$19,928 $22,625 
Other information related to lease term and discount rate is as follows:
December 31, 2024
 Operating leases weighted average remaining lease term (in years)7.1 years
 Operating leases weighted average discount rate5.01 %

The components of lease expense are as follows (in thousands):
Year Ended
December 31, 2024December 31, 2023December 31, 2022
Operating lease cost$5,349 $5,171 $5,098 
Short-term lease cost45 150 121 
Sublease income(445)(385)(423)
 Total net lease cost$4,949 $4,936 $4,796 

Right of use assets obtained in exchange for new operating lease liability during 2024 were $2.0 million and in 2023 were $6.8 million. The Company paid $5.2 million for its operating leases for the year ended December 31, 2024 and $5.1 million for the year ended December 31, 2023, which are included in operating cash flows on the consolidated statements of cash flows.
Undiscounted maturities of operating lease payments as of December 31, 2024 are summarized as follows (in thousands):
2025$4,847 
20264,114 
20273,705 
20283,443 
20293,356 
Thereafter8,826 
 Total future minimum lease payments$28,291 
 Less: amount representing interest(4,365)
 Present value of future minimum lease payments$23,926 
v3.25.0.1
Segment and Geographic Data
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographic Data Segment and Geographic Data
VPG reports in three reportable segments: Sensors segment, Weighing Solutions segment, and Measurement Systems segment. The Sensors reporting segment is comprised of the foil resistor and strain gage operating segments. The Weighing Solutions segment is comprised of specialized modules and systems used to precisely measure weight, force torque, and pressure. The Measurement Systems reporting segment is comprised of highly specialized systems for steel production, materials development, and safety testing.
The chief operating decision maker ("CODM") is our chief executive officer. The evaluation of the segments performance is based on multiple performance measures including revenues and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring severance, impairment of goodwill and indefinite-lived intangible assets and amortization of intangible assets, acquisition costs, and other items is meaningful because they relate to occurrences or events that are outside of our core operations, and management believes that the use of these measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 1). Reporting segment assets are the owned or allocated assets used by each segment. Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products.
The following table sets forth reporting segment information (in thousands):
SensorsWeighing SolutionsMeasurement SystemsCorporate/
Other		Total
2024
Net third-party revenues$112,238 $107,205 $87,079 $— $306,522 
Intersegment revenues1,756 — — (1,756)— 
Total revenues113,994 107,205 87,079 (1,756)306,522 
Costs of products sold75,236 68,010 39,500 (1,756)180,990 
Gross profit38,758 39,195 47,579 — 125,532 
Research and development expenses4,196 5,302 10,461 — 19,959 
Segment selling, general, and administrative expenses*16,408 19,516 19,293 — 55,217 
Segment operating income 18,154 14,377 17,825 — 50,356 
Other supplemental information:
Acquisition costs— — 101 — 101 
Restructuring costs686 76 — 300 1,062 
Depreciation and amortization expense6,412 3,377 4,294 1,722 15,805 
Capital expenditures4,602 1,799 1,226 171 7,798 
Total assets170,567 123,477 138,419 18,472 450,935 
2023
Net third-party revenues$139,783 $122,528 $92,737 $— $355,048 
Intersegment revenues1,743 — — (1,743)— 
Total revenues141,526 122,528 92,737 (1,743)355,048 
Costs of products sold86,396 77,252 42,801 (1,743)204,706 
Gross profit55,130 45,276 49,936 — 150,342 
Research and development expenses4,424 5,518 10,433 — 20,375 
Segment selling, general, and administrative expenses*15,881 18,188 18,896 — 52,965 
Segment operating income 34,825 21,570 20,607 — 77,002 
Other supplemental information:
Restructuring costs— 1,478 32 50 1,560 
Depreciation and amortization expense6,141 3,389 4,239 1,781 15,550 
Capital expenditures8,181 6,447 1,111 2 15,741 
Total assets156,384 142,152 154,559 18,471 471,566 
2022
Net third-party revenues$152,221 $125,715 $84,644 $— $362,580 
Intersegment revenues2,121 — — (2,121)— 
Total revenues154,342 125,715 84,644 (2,121)362,580 
Costs of products sold93,255 82,537 39,307 (2,121)212,978 
Gross profit61,087 43,178 45,337 — 149,602 
Research and development expenses4,175 5,405 10,185 — 19,765 
Segment selling, general, and administrative expenses*15,241 16,541 16,753 — 48,535 
Segment operating income 41,671 21,232 18,399 — 81,302 
Other supplemental information:
Restructuring costs1,460 — 58 — 1,518 
Depreciation and amortization expense5,816 3,343 4,308 1,886 15,353 
Capital expenditures11,515 7,094 1,324 18 19,951 
Total assets156,816 148,041 153,547 18,338 476,742 
* Segment selling, general and administrative expenses are direct selling, general and administrative expenses, excluding research and development expenses and amortization of intangible assets attributed to the segment.

The following table reconciles segment profit to consolidated income before taxes (in thousands):
Years ended December 31,
202420232022
Segment operating income $50,356 $77,002 $81,302 
Acquisition costs101 — — 
Restructuring costs1,062 1,560 1,518 
Unallocated G&A expenses32,329 33,488 35,985 
Operating income $16,864 $41,954 $43,799 
Other income (expense) $700 $(3,518)$1,289 
Income before taxes$17,564 $38,436 $45,088 

The following geographic data includes property and equipment based on physical location (in thousands):
December 31,
Property and Equipment - Net20242023
United States$7,125 $12,935 
Europe5,143 5,321 
Israel40,493 43,987 
Asia25,238 26,946 
Canada and Other1,502 1,447 
$79,501 $90,636 
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share are computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding, adjusted to include the potentially dilutive effect of restricted stock units (see Note 10), and other potentially dilutive securities.
The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share):
Years ended December 31,
202420232022
Numerator:
Numerator for basic and diluted earnings per share:
Net earnings attributable to VPG stockholders
$9,911 $25,707 $36,063 
Denominator:
Denominator for basic earnings per share:
Weighted average shares
13,353 13,574 13,628 
Effect of dilutive securities:
Restricted stock units
33 79 60 
Dilutive potential common shares
33 79 60 
Denominator for diluted earnings per share:
Adjusted weighted average shares
13,386 13,653 13,688 
Basic earnings per share attributable to VPG stockholders
$0.74 $1.89 $2.65 
Diluted earnings per share attributable to VPG stockholders
$0.74 $1.88 $2.63 
v3.25.0.1
Additional Financial Statement Information
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Statement Information Additional Financial Statement Information
The caption “Other” on the consolidated statements of operations consists of the following (in thousands):
Years ended December 31,
202420232022
Foreign exchange gain/(loss)$1,878 $(822)$3,579 
Interest income1,673 1,651 401 
Pension expense(55)(52)(241)
Other(284)(321)(181)
$3,212 $456 $3,558 
Foreign currency exchange gains and losses represent the impact of changes in foreign currency exchange rates. The foreign exchange gain/(loss) for the year ended December 31, 2024, is primarily due to fluctuations in the Japanese yen, Israeli shekel and the Canadian dollar. The foreign exchange gain/(loss) for the year ended December 31, 2023, is primarily due to fluctuations in the Israeli shekel, the Canadian dollar and the British pound and for the year ended December 31, 2022, is primarily due to fluctuations in the Israeli shekel, the Japanese yen and the British pound.
Pension expense represents the net periodic benefit cost excluding the service cost.
Other accrued expenses consist of the following (in thousands):
December 31,
20242023
Customer advance payments$7,009 $8,712 
Accrued restructuring235 249 
Goods received, not yet invoiced1,572 2,837 
Accrued taxes, other than income taxes1,994 1,370 
Accrued commissions3,895 4,077 
Accrued professional fees1,587 1,343 
Accrued technical warranty857 770 
Current accrued pension and other post retirement costs596 511 
Other1,980 2,558 
$19,725 $22,427 
Israeli Severance Pay

The Israeli Severance Pay Law, 1963 ("Severance Pay Law"), specifies that employees of our Israeli subsidiary are entitled to severance payment, following the termination of their employment. Under the Severance Pay Law, the severance payment is calculated as one-month salary for each year of employment, or a portion thereof.

Part of the subsidiary's liability for severance pay is covered by the provisions of Section 14 of the Severance Pay Law ("Section 14"). Under Section 14, employees are entitled to monthly deposits, at a rate of 8.33% of their monthly salary, contributed on their behalf to their insurance funds. Payments in accordance with Section 14 release the subsidiary from any future severance payments in respect of those employees. As a result, the Company does not recognize any liability for severance pay due to these employees and the deposits under Section 14 are not recorded as an asset in the Company's balance sheet.
For the subsidiary's employees in Israel who are not subject to Section 14, the Company calculated the liability for severance pay pursuant to the Severance Pay Law based on the most recent salary of these employees multiplied by the number of years of employment as of the balance sheet date.  The Company recorded as expenses the increase in the severance liability, net of earnings (losses) from the related investment fund.  The subsidiary's liability was partially funded by monthly payments deposited with insurers and the value of these deposits is recorded as an asset on the Company's balance sheet.   Any unfunded amounts would be paid from operating funds and are covered by a provision established by the subsidiary. The accompanying consolidated balance sheets at December 31, 2024 and December 31, 2023 include a $6.2 million and $7.1 million non-current liability, respectively, associated with Israeli severance requirements in other liabilities and a $5.0 million and $5.3 million non-current asset, respectively, associated with Israeli severance requirements in other assets.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
ASC Topic 820, Fair Value Measurements and Disclosures, establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
Level 3: Unobservable inputs that reflect the Company’s own assumptions.
An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.
The following tables provide the financial assets and liabilities carried at fair value measured on a recurring basis (in thousands):
As of December 31, 2024Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Assets:
Assets held in rabbi trusts$6,228 $45 $6,183 $— 
As of December 31, 2023Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Assets:
Assets held in rabbi trusts$5,841 $59 $5,782 $— 
The Company maintains nonqualified trusts, referred to as “rabbi” trusts, to fund payments under deferred compensation and nonqualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale money market funds at December 31, 2024 and December 31, 2023, and company-owned life insurance assets. The marketable securities held in the rabbi trusts are valued using quoted market prices on the last business day of the year. The company-owned life insurance assets are valued in consultation with the Company’s insurance brokers using the value of underlying assets of the insurance contracts. The fair value measurement of cash and cash equivalents held in the rabbi trust is considered a Level 1 measurement and the measurement of the company-owned life insurance assets is considered a Level 2 measurement within the fair value hierarchy.
The fair value of the long-term debt, excluding capitalized deferred financing costs at December 31, 2024 and December 31, 2023 approximates its carrying value, as the revolving debt and term loans are reset monthly based on current market rates, plus a base rate as specified in the 2024 Credit Agreement. The fair value measurement of long-term debt is considered a Level 2 measurement.
The Company’s financial instruments include cash and cash equivalents, accounts receivable, short-term notes payable, and accounts payable. The carrying amounts for these financial instruments reported in the consolidated balance sheets approximate their fair values.
v3.25.0.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Following the spin-off from Vishay Intertechnology, Inc. on July 6, 2010, VPG is an independent, publicly-traded company, and Vishay Intertechnology does not retain any ownership interest in VPG, although a common group of stockholders control a significant portion of the voting power of each company and the companies have three common board members.

Subsequent to the spin-off, VPG and Vishay Intertechnology continue to share certain manufacturing locations. VPG owns one location in Japan at which it leases space to Vishay Intertechnology. Lease receipts related to the shared facility are immaterial.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net earnings $ 9,911 $ 25,707 $ 36,063
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
As one of the critical elements of the Company’s overall ERM approach, the Company’s cybersecurity program is focused on the following key areas:
•Governance: As discussed in more detail under the heading “Corporate Governance and Oversight,” the Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which regularly interacts with and receives reports from the Company’s ERM function, the Vice President of IT and Digital, the Company’s Chief Information Security Officer (“CISO”), and other members of management.
•Collaborative Approach: The Company has integrated cybersecurity risk management into its broader risk management framework to promote a Company-wide culture of cybersecurity risk management. To that end, the Company has implemented a comprehensive, cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner.
•Technical Safeguards: The Company deploys technical safeguards that are designed to protect the Company’s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence.
•Incident Response: The Company has established and maintains a comprehensive incident response plan that fully address the Company’s response to a cybersecurity incident, and this plan is tested and evaluated on a regular basis.
•Third-Party Risk Management: The Company maintains a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of the Company’s systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. The Company conducts security assessments of all of its electronic information-related third-party service providers before the Company engages them, and the Company maintains policies and procedures to oversee and identify cybersecurity risks associated with its use of third-party service providers.
•Education and Awareness: The Company provides regular, mandatory training for the Company's personnel regarding cybersecurity threats as a means to equip them with effective tools to address cybersecurity threats, and to communicate the Company’s evolving information security policies, standards, processes and practices.

The Company engages in the periodic assessment and testing of the Company’s policies, standards, processes and practices that are designed to address cybersecurity threats and incidents. These efforts include a wide range of activities, including audits, assessments, threat modeling, penetration and vulnerability testing and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. The Company regularly engages third parties, including consultants and outside monitoring agencies, to perform assessments on our cybersecurity measures, including information security maturity assessments, audits and independent reviews of our information security control environment and operating effectiveness. The results of such assessments, audits and reviews are reported to the Audit Committee during management’s annual update to the Audit Committee and the Board, and the Company updates and adjusts its cybersecurity policies, standards, processes and practices as necessary based on the information provided by these assessments, audits and reviews.
Management’s Role in Managing Risk

The Vice President of IT and Digital, along with the CISO, have developed a strategy and multi-year plan for cybersecurity and regularly update it based on evolving technology trends. The Audit Committee reviews the Company’s information security program, including cybersecurity controls, annually (and/or if and when a significant event occurs as defined by its Incident Management policy). The Audit Committee updates the Board annually and upon request of the Board as detailed under the Corporate Governance and Oversight Section.

Our Vice President of IT and Digital, holds a Bachelor of Science in Computer Science and brings a wealth of experience from managing IT organizations in large, publicly traded companies, in addition to a distinguished background of service in the Israeli army, where she was responsible for managing classified information. Our CISO has an impressive 20-plus years in the field of cybersecurity, underpinned by a Bachelor's degree specializing in Knowledge and Information Management. Our CISO's extensive experience includes a period of 12 years during which he was employed by the Government of Israel, where he managed classified information systems and teams, a role that demands the highest levels of diligence and expertise in information security.

Through third-party service providers and attendance at seminars, the Vice President of IT and Digital and CISO are regularly informed about the latest developments in cybersecurity, including potential threats and innovative risk management techniques. This ongoing knowledge acquisition enhances our processes to identify, prevent, mitigate and remediate of cybersecurity threats and cybersecurity incidents.

Together, our Vice President of IT and Digital and CISO lead a dynamic, cross-functional team that includes relevant stakeholders from all Company divisions. This team plays a pivotal role in raising cybersecurity awareness throughout the Company, ensuring that every employee is informed and cautious about potential cyber threats. They are committed to keeping our Company's management and Board regularly informed on cybersecurity matters, ensuring transparency and proactive management of digital risks. Additionally, they actively collaborate with division managers, participating in divisional management meetings to identify and protect sensitive information. Their involvement at this level ensures that cybersecurity is integrated into every aspect of our operations, aligning with our broader strategic objectives.

To date, cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected and, to the best of our knowledge, are not reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company has integrated cybersecurity risk management into its broader risk management framework to promote a Company-wide culture of cybersecurity risk management. To that end, the Company has implemented a comprehensive, cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Corporate Governance and Oversight

The Audit Committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this domain. The Audit Committee is composed of directors who have diverse qualifications and experiences.

Significant cybersecurity matters, and strategic risk management decisions are escalated to the Audit Committee and, as appropriate, the Board, ensuring that such bodies maintain comprehensive oversight and can provide guidance on critical cybersecurity issues.
The Audit Committee regularly reports to the Board regarding the Audit Committee’s oversight of cybersecurity matters, such as the periodic assessment and testing of the Company’s policies, standards, processes and practices and the risks identified in such assessment and testing.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this domain. The Audit Committee is composed of directors who have diverse qualifications and experiences.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee updates the Board annually and upon request of the Board as detailed under the Corporate Governance and Oversight Section.
Cybersecurity Risk Role of Management [Text Block]
The Vice President of IT and Digital, along with the CISO, have developed a strategy and multi-year plan for cybersecurity and regularly update it based on evolving technology trends. The Audit Committee reviews the Company’s information security program, including cybersecurity controls, annually (and/or if and when a significant event occurs as defined by its Incident Management policy). The Audit Committee updates the Board annually and upon request of the Board as detailed under the Corporate Governance and Oversight Section.

Our Vice President of IT and Digital, holds a Bachelor of Science in Computer Science and brings a wealth of experience from managing IT organizations in large, publicly traded companies, in addition to a distinguished background of service in the Israeli army, where she was responsible for managing classified information. Our CISO has an impressive 20-plus years in the field of cybersecurity, underpinned by a Bachelor's degree specializing in Knowledge and Information Management. Our CISO's extensive experience includes a period of 12 years during which he was employed by the Government of Israel, where he managed classified information systems and teams, a role that demands the highest levels of diligence and expertise in information security.

Through third-party service providers and attendance at seminars, the Vice President of IT and Digital and CISO are regularly informed about the latest developments in cybersecurity, including potential threats and innovative risk management techniques. This ongoing knowledge acquisition enhances our processes to identify, prevent, mitigate and remediate of cybersecurity threats and cybersecurity incidents.

Together, our Vice President of IT and Digital and CISO lead a dynamic, cross-functional team that includes relevant stakeholders from all Company divisions. This team plays a pivotal role in raising cybersecurity awareness throughout the Company, ensuring that every employee is informed and cautious about potential cyber threats. They are committed to keeping our Company's management and Board regularly informed on cybersecurity matters, ensuring transparency and proactive management of digital risks. Additionally, they actively collaborate with division managers, participating in divisional management meetings to identify and protect sensitive information. Their involvement at this level ensures that cybersecurity is integrated into every aspect of our operations, aligning with our broader strategic objectives.

To date, cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected and, to the best of our knowledge, are not reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] As discussed in more detail under the heading “Corporate Governance and Oversight,” the Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which regularly interacts with and receives reports from the Company’s ERM function, the Vice President of IT and Digital, the Company’s Chief Information Security Officer (“CISO”), and other members of management.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CISO has an impressive 20-plus years in the field of cybersecurity, underpinned by a Bachelor's degree specializing in Knowledge and Information Management. Our CISO's extensive experience includes a period of 12 years during which he was employed by the Government of Israel, where he managed classified information systems and teams, a role that demands the highest levels of diligence and expertise in information security.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Audit Committee regularly reports to the Board regarding the Audit Committee’s oversight of cybersecurity matters, such as the periodic assessment and testing of the Company’s policies, standards, processes and practices and the risks identified in such assessment and testing.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Background and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
The consolidated financial statements include the accounts of the individual entities in which the Company maintained a controlling financial interest. For those subsidiaries in which the Company’s ownership is less than 100 percent, the outside stockholders’ interests are shown as noncontrolling interests in the accompanying consolidated balance sheets. All transactions, accounts, and profits between individual members comprising the Company have been eliminated in consolidation.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates.
Revenue Recognition
Revenue Recognition
The Company derives substantially all of its revenue from product sales. The Company recognizes the vast majority of its sales at a point-in-time. It utilizes the core principle of recognizing revenue when the Company satisfies performance obligations as evidenced by the transfer of control of its products to the customer.
Such revenues are derived from purchase orders and/or contracts with customers. Each contract has the promise to transfer the control of the products, each of which is individually distinct and is considered the identified performance obligation. As part of the decision to enter into each contract, the Company evaluates the customer’s credit risk, but its contracts do not have any significant financing components, as payment is generally due net 30 to 60 days after delivery. In accordance with contract terms, revenue from the Company’s product sales is recognized at the time of product shipment from its facilities or delivery to the customer location, as determined by the agreed upon shipping terms.
Under the terms of some of its contracts, the Company may be required to perform certain installation services. These installation services are performed at the time of product delivery or at some point thereafter. The installation services do not significantly modify the product provided, and although the Company may be required contractually to provide these services, the installation services could be performed by a third party or the customer. Thus, these installation services are a distinct performance obligation. In most of the applicable contracts, this installation service element is immaterial in the context of the agreement. When the installation services are accounted for as a separate performance obligation, the Company allocates the transaction price to this element based on its relative standalone selling price.

Given the specialized nature of the Company's products, the Company generally does not allow product returns. Shipping and handling costs are recorded to Costs of product sold when control of the product has transferred to the customer. The Company offers standard product warranties. Warranty related costs continue to be recognized as expense when the products are sold. Sales, value added taxes and other taxes collected concurrent with revenue-producing activities are excluded from revenue. See Note 2 for further details on Revenues.
Research and Development Expense
Research and Development Expenses
Research and development costs are expensed as incurred.
Income Taxes
Income Taxes
The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date.
The Company records net deferred tax assets to the extent it believes such assets will "more likely than not" be realized. In making this determination, the Company considers all positive and negative evidence, including historic earnings, projected future income, and cost-effective tax-planning strategies. When the Company determines that its ability to realize deferred tax assets is not "more likely than not", the Company adjusts its deferred tax asset valuation allowance, which increases income tax expense.
The Company records uncertain tax positions on the basis of a two-step process in which the Company first determines whether it is "more likely than not" that the tax positions will be sustained based on the technical merits of the position and then measures those tax positions that meet the more-likely-than-not recognition threshold. The Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the tax authority.
The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense in the accompanying consolidated statements of operations. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents include demand deposits and highly liquid investments with original maturities of three months or less when purchased. Highly liquid investments with maturities greater than three months are classified as short-term investments. There were no investments classified as short-term investments at December 31, 2024 or 2023.
Allowance For Credit Losses
Allowance for Credit Losses
The Company maintains an allowance for credit losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance for credit losses, the Company considers historical loss data, customer specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data.
Inventories
Inventories
Inventories are stated at the lower of cost, determined by the first-in, first-out method, or market based on net realizable value. Inventories are adjusted for estimated excess and obsolescence and written down to net realizable value based upon estimates of future demand, technology developments, and market conditions.
Assets Held For Sale and Impairment of Long-Lived Assets
Assets Held For Sale
The Company considers properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we reclassify it to current assets as “Asset held for sale” and we record the property’s value at the lower of its carrying amount or its estimated fair value, less estimated costs to sell, and we cease depreciation.
Impairment of Long-Lived Assets
The carrying value of long-lived assets held-and-used, other than goodwill and indefinite-lived intangible assets, is evaluated when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from such asset group are separately identifiable and are less than the carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived asset group. Fair market value is determined primarily using present value techniques based on projected cash flows from the asset group. Losses on long-lived assets held-for-sale, other than goodwill and indefinite-lived intangible assets, are determined in a similar manner, except that fair market values are reduced for disposal costs.
Property and Equipment
Property and Equipment
Property and equipment are carried at cost and is depreciated principally by the straight-line method based upon the estimated useful lives of the assets. Machinery and equipment are being depreciated over useful lives of seven to fifteen years. Buildings and building improvements are being depreciated over useful lives of twenty to forty years or the lease term. Software is being depreciated over useful lives of three to five years. Construction in progress is not depreciated until the assets are placed in service.
Business Combinations
Business Combinations
The Company allocates the purchase price of an acquired company, including when applicable, the fair value of contingent consideration between tangible and intangible assets acquired and liabilities assumed from the acquired businesses based on estimated fair values, with any residual of the purchase price recorded as goodwill. Estimating fair values requires significant judgments, estimates and assumptions including but not limited to: discount rates, future cash flows and the economic lives of trade names, technology, and customer relationships. These estimates are based on historical experience and information obtained from the management of the acquired companies, and are inherently uncertain.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets

Goodwill and indefinite-lived trademarks are tested for impairment at least annually, and whenever events or changes in circumstances occur indicating that it is "more likely than not" impairment may have been incurred. The Company has the option to first assess qualitative factors to determine whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying value as a basis for determining if it is necessary to perform the quantitative goodwill impairment test. However, if the Company concludes otherwise, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing it against its carrying value. If the fair value exceeds the carrying value, no further evaluation is required and no impairment loss is recognized. An impairment charge would be recognized to the extent the carrying value of goodwill exceeds the reporting unit fair value.

The indefinite-lived trade names are tested for impairment either by employing the qualitative approach outlined above, or by comparing the carrying value to the fair value based on current revenue projections of the related operations, under the relief from royalty method. Any excess carrying value over the applicable fair value is recognized as impairment. Any impairment would be recognized in the reporting period in which it has been identified.

The Company's requires goodwill and indefinite-lived asset annual impairment test is completed as of the first day of the fourth fiscal quarter each year. As described in Note 5 to the consolidated financial statements, the 2024, 2023 and 2022 annual impairment tests resulted in no impairment.
Definite-lived intangible assets, such as customer relationships, patents and acquired technology, non-competition agreements, and certain trade names are amortized on a straight-line method over their estimated useful lives. Patents and acquired technology are being amortized over useful lives of seven to twenty years. Customer relationships are being amortized over useful lives of five to fifteen years. Trade names are being amortized over useful lives of seven to ten years. Non-competition agreements are being amortized over periods of five to ten years. The Company continually evaluates the reasonableness of the useful lives of these assets. Additionally, the Company reviews the carrying values of these assets for possible impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable based on undiscounted estimated cash flows expected to result from its use and eventual disposition.
Foreign Currency Translation
Foreign Currency Translation
The Company has significant operations outside of the United States. The Company's operations in Europe, Canada, and certain locations in Asia primarily generate and expend cash in local currencies, and accordingly, these subsidiaries utilize the local currency as their functional currency. The Company’s operations in Israel and certain locations in Asia primarily generate cash in U.S. dollars, and accordingly, these subsidiaries utilize the U.S. dollar as their functional currency.
For those subsidiaries where the local currency is the functional currency, assets and liabilities in the consolidated balance sheets have been translated at the rate of exchange as of the balance sheet date. Revenues and expenses are translated at the average exchange rate for the year. Translation adjustments do not impact the consolidated statements of operations and are reported as a separate component of accumulated other comprehensive loss within the statement of comprehensive income. Foreign currency transaction gains and losses are included in the results of operations.
For those foreign subsidiaries where the U.S. dollar is the functional currency, all foreign currency financial statement amounts are remeasured into U.S. dollars. Exchange gains and losses arising from remeasurement of foreign currency-denominated monetary assets and liabilities are included in the consolidated statements of operations.
Share-Based Compensation
Share-Based Compensation
Compensation costs related to share-based payments are recognized in the consolidated financial statements. The amount of compensation cost is measured based on the grant-date fair value of the equity instruments issued. For service-based awards, compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award. The Company recognizes forfeitures as they occur. For performance based awards, the Company recognizes compensation cost for awards that are expected to vest based on whether performance criteria are expected to be met.
Leases
Leases
The Company determines if an arrangement is or contains a lease at inception or modification of such agreement. The arrangement is or contains a lease if the contract conveys the right to control the use of the identified asset for a period in exchange for consideration.
Lease right of use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected term at commencement date. As the implicit rate is not determinable in most of the Company's leases, the Company's incremental borrowing rate is used as the basis to determine the present value of future lease payments. The expected lease terms include options to extend or terminate. The period which is subject to an option to extend the lease is included in the lease term if it is reasonably certain that the option will be exercised. Some of these leases contain variable payment provisions that depend on an index or rate, initially measured using the index or rate at the lease commencement date and are therefore not included in our future minimum lease payments. Variable payments are expensed in the periods incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. The Company uses the practical expedients to exclude from balance sheet reporting leases with initial terms of 12 months or less and to exclude non-lease components from lease right of use assets and corresponding liabilities.
Commitments and Contingencies
Commitments and Contingencies
Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
The Company evaluates the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB").

Recent accounting pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU also allows, in addition to the measure that is most consistent with U.S. GAAP, the disclosure of additional measures of segment profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent interim periods, with early adoption permitted. As part of this Annual Report, the Company adopted ASU 2023-07, which was applied retrospectively to all prior periods presented. Refer to Note 14 herein for further details regarding this adoption.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. Adoption of this ASU should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), Disaggregation of Income Statement Expenses. This update aims to enhance the transparency of financial reporting by requiring public business entities (PBEs) to provide disaggregated disclosure of certain income statement expense captions into specified categories in disclosures within the footnotes to the financial statements. The ASU is effective for annual fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. Adoption of this ASU should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
v3.25.0.1
Revenues (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands):
Year to date December 31, 2024
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$38,500 $44,599 $50,758 $133,857 
Europe31,827 49,900 5,676 87,403 
Israel19,156 376 — 19,532 
Asia22,755 12,207 9,283 44,245 
Canada— 123 21,362 21,485 
$112,238 $107,205 $87,079 $306,522 
Year to date December 31, 2023
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$49,998 $55,421 $55,703 $161,123 
Europe36,095 53,629 5,790 95,513 
Israel17,772 292 — 18,064 
Asia35,918 13,156 8,861 57,935 
Canada— 30 22,383 22,413 
$139,783 $122,528 $92,737 $355,048 
Year to date December 31, 2022
SensorsWeighing SolutionsMeasurement SystemsTotal
United States$51,246 $58,076 $52,435 $161,757 
Europe35,419 53,188 5,740 94,347 
Israel28,413 470 — 28,883 
Asia37,143 13,974 7,537 58,654 
Canada— 8 18,932 18,940 
$152,221 $125,715 $84,644 $362,580 


The following table disaggregates net revenue by market sector (in thousands):
Years Ended December 31,
202420232022
Test & Measurement$57,314 $73,986 $78,406 
Avionics, Military & Space28,066 38,270 31,399 
Transportation52,329 55,060 55,892 
Other Markets62,776 72,372 79,750 
Industrial Weighing37,591 43,898 52,109 
General Industrial19,341 19,917 21,179 
Steel49,105 51,545 43,845 
$306,522 $355,048 $362,580 
Schedule of Contract with Customer, Asset and Liability
The outstanding contract assets and liability accounts were as follows (in thousands):
Contract AssetContract Liability
Unbilled RevenueAccrued Customer Advances
December 31, 2023$2,989 $8,712 
December 31, 2024$3,330 $8,272 
(Decrease) Increase$341 $(440)
v3.25.0.1
Acquisition Activity (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed
The following table summarizes the provisional fair values assigned to the assets and liabilities of Nokra as of September 30, 2024 (in thousands):
September 30, 2024
Working capital1,214 
Property and equipment113 
Deferred income tax liability(31)
Intangible assets:
Acquired technology1,211 
Customer backlog141 
Total intangible assets1,352 
Fair value of acquired identifiable assets2,648 
Purchase price$4,409 
Goodwill$1,761 
(a) Working capital accounts include accounts receivable, inventory, prepaid expenses, accounts payable, accrued expenses, and accrued payroll.
v3.25.0.1
Assets held for sale (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets Held for Sale
A summary of the assets held for sale is included in the table below as of December 31, 2024:
LocationAsset CategoryCostAccumulated DepreciationNet Carrying Value
Kent, WashingtonLand$1,800 $— $1,800 
Building & Improvements$4,910 $1,481 $3,429 
$6,710 $1,481 $5,229 
v3.25.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The change in the carrying value of goodwill by segment is as follows (in thousands):
TotalMeasurement SystemsWeighing Solutions
Steel Nokra DSI DTS On-board Weighing
Balance at January 1, 202345,544 6,313 — 16,887 16,033 6,311 
Foreign currency translation adjustment190 175 — 15 — — 
Balance at December 31, 202345,734 6,488 — 16,902 16,033 6,311 
Goodwill acquired1,761 — 1,761 — — — 
Foreign currency translation adjustment(676)(524)(128)(24)— — 
Balance at December 31, 202446,819 5,964 1,633 16,878 16,033 6,311 
Schedule of Finite-Lived Intangible Assets
Intangible assets were as follows (in thousands):
December 31,
20242023
Intangible assets subject to amortization
(Definite-lived):
Patents and acquired technology$31,890 $32,752 
Customer relationships32,683 33,537 
Trade names3,236 1,517 
Non-competition agreements9,250 9,956 
 77,059 77,762 
Accumulated amortization:
Patents and acquired technology(10,937)(11,048)
Customer relationships(19,453)(18,306)
Trade names(3,235)(1,517)
Non-competition agreements(9,218)(9,939)
 (42,843)(40,810)
Net intangible assets subject to amortization$34,216 $36,952 
Intangible assets not subject to amortization
(Indefinite-lived):
Trade names7,599 7,682 
$41,815 $44,634 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets were as follows (in thousands):
December 31,
20242023
Intangible assets subject to amortization
(Definite-lived):
Patents and acquired technology$31,890 $32,752 
Customer relationships32,683 33,537 
Trade names3,236 1,517 
Non-competition agreements9,250 9,956 
 77,059 77,762 
Accumulated amortization:
Patents and acquired technology(10,937)(11,048)
Customer relationships(19,453)(18,306)
Trade names(3,235)(1,517)
Non-competition agreements(9,218)(9,939)
 (42,843)(40,810)
Net intangible assets subject to amortization$34,216 $36,952 
Intangible assets not subject to amortization
(Indefinite-lived):
Trade names7,599 7,682 
$41,815 $44,634 
Schedule of Expected Amortization Expense
Estimated annual amortization expense for each of the next five years is as follows (in thousands):
2025$3,836 
20263,748 
20273,713 
20283,172 
20293,128 
v3.25.0.1
Restructuring Costs (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Summary of Restructuring and Related Costs
The following table summarizes the activity to date related to these programs in the accrued restructuring liability, which is comprised of the activity associated primarily with the employee termination costs. The accrued restructuring liability balance as of December 31, 2024 and 2023, respectively, is included in other accrued expenses in the accompanying consolidated balance sheets (in thousands):
December 31,
20242023
Balance at beginning of year$249 $183 
Restructuring charges1,062 1,560 
Cash payments(949)(1,496)
Foreign currency translation(127)2 
Balance at end of year$235 $249 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
For financial reporting purposes, income before taxes includes the following components (in thousands):
Years ended December 31,
202420232022
Domestic$11,651 $(4,111)$(4,979)
Foreign5,913 42,547 50,067 
$17,564 $38,436 $45,088 
Schedule of Components of Income Tax Expense (Benefit)
The expense (benefit) for income taxes is comprised of (in thousands):
Years ended December 31,
202420232022
Current:
Federal$331 $517 $21 
State and local75 162 97 
Foreign7,255 11,903 10,457 
7,661 12,582 10,575 
Deferred:
Federal19 154 (2,808)
State and local(63)(628)109 
Foreign113 318 659 
69 (156)(2,040)
Total income tax expense $7,730 $12,426 $8,535 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of income tax expense (benefit) at the U.S. federal statutory income tax rate to the actual income tax provision is as follows (in thousands):
Years ended December 31,
202420232022
Tax at statutory rate$3,688 $8,072 $9,468 
State income taxes, net of U.S. federal tax benefit9 (368)164 
U.S. GILTI tax, net of foreign tax credits41 72 8 
Effect of foreign operations2,688 2,378 1,246 
Residual U.S. tax on foreign earnings49 899 291 
Change in valuation allowance1,330 1,270 (1,629)
Change in unrecognized tax benefits, net99 476 (1,000)
Specialty tax credits(502)(520)(639)
Statutory rate changes172 56 3 
Effect of foreign exchange(20)128 667 
Other176 (37)(44)
Total income tax expense $7,730 $12,426 $8,535 
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
December 31,
20242023
Deferred tax assets:
Pension and other postretirement costs$1,056 $1,082 
Inventories5,066 4,102 
Net operating/capital loss and interest carryforwards12,668 10,800 
Tax credit carryforwards1,952 1,390 
Deferred compensation3,116 2,845 
Research and development costs5,402 4,707 
Other accruals and reserves3,221 3,709 
Total gross deferred tax assets32,481 28,635 
Less: valuation allowance(15,380)(13,136)
17,101 15,499 
Deferred tax liabilities:
Tax over book depreciation(2,387)(2,151)
Investment in subsidiary(2,271)(2,121)
Intangible assets, including tax deductible goodwill(11,241)(10,843)
Total gross deferred tax liabilities(15,899)(15,115)
Net deferred tax assets$1,202 $384 
Schedule of Valuation Allowance
Significant valuation allowances are as follows (in thousands):
December 31,
Jurisdiction20242023
U.S. federal$6,185 $4,402 
U.S. state (net of U.S. federal tax benefit)7,122 6,545 
Israel - capital losses1,364 1,369 
Schedule of Operating Loss Carryforwards
The following table summarizes significant net operating losses, capital losses and credit carryforwards as of December 31, 2024 (in thousands):
December 31,
Jurisdiction2024Expiring
U.S. federal net operating losses$2,801 No expiration
U.S. federal interest expense carryover18,568 No expiration
U.S. foreign tax credit498 2028-2034
U.S. state net operating losses122,196 2024-2044
Israel capital losses5,908 No expiration
Schedule of Unrecognized Tax Benefits Roll Forward
The following table summarizes changes in the Company's gross liabilities, excluding interest and penalties, associated with unrecognized tax benefits (in thousands):
December 31,
202420232022
Balance at beginning of year$798 $439 $1,282 
Addition based on tax positions related to current year105 589 176 
Addition based on tax positions related to prior years— — 216 
Reduction based on tax positions related to prior years— (128)— 
Currency translation adjustments(5)(8)(6)
Reduction for settled tax examinations— — (1,229)
Reduction for payments made— (94)— 
Reduction for lapses of statute of limitations(54)— — 
Balance at end of year$844 $798 $439 
v3.25.0.1
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consists of the following (in thousands):
December 31,
20242023
Credit Agreement - Revolving Facility$32,000 $32,000 
Deferred financing costs(559)(144)
Long-term debt$31,441 $31,856 
Schedule of Maturities of Long-term Debt
Aggregate annual maturities of long-term debt are as follows (in thousands):
2025$— 
2026— 
2027— 
2028— 
202932,000 
v3.25.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Comprehensive Income (Loss)
The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows (in thousands):
Beginning
Balance		Before-Tax
Amount		Tax
Effect		Net-of-Tax
Amount		Ending
Balance
December 31, 2022
Pension and other postretirement actuarial items
$(4,732)$5,797 $(1,021)$4,776 $44 
Reclassification adjustment for recognition of actuarial items
— 721 (176)545 545 
Foreign currency translation adjustment
$(30,276)$(11,243)$(161)$(11,404)$(41,680)
Reclassification adjustment for foreign currency translation
— 191 — 191 191 
$(35,008)$(4,534)$(1,358)$(5,892)$(40,900)
December 31, 2023
Pension and other postretirement actuarial items
$589 $(172)$(26)$(198)$391 
Reclassification adjustment for recognition of actuarial items
— 7 (5)2 2 
Foreign currency translation adjustment
(41,489)2,237 (10)2,227 (39,262)
$(40,900)$2,072 $(41)$2,031 $(38,869)
December 31, 2024
Pension and other postretirement actuarial items
$393 $(471)$112 $(359)$34 
Reclassification adjustment for recognition of actuarial items
— (21)5 (16)(16)
Foreign currency translation adjustment
(39,262)(12,147)2,494 (9,653)(48,915)
$(38,869)$(12,639)$2,611 $(10,028)$(48,897)
v3.25.0.1
Pensions and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Reconciliation of the Benefit Obligation, Plan Assets, and Funded Status to Benefit Plans
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to pension plans (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Change in benefit obligation:
Benefit obligation at beginning of year$2,098 $16,467 $2,050 $15,853 
Service cost (adjusted for actual employee contributions)— 264 — 265 
Interest cost96 670 97 675 
Actuarial loss/(gains)(89)(1,015)59 6 
Benefits paid(108)(628)(108)(573)
Curtailments and settlements— (199)— (310)
Currency translation— (557)— 551 
Benefit obligation at end of year$1,997 $15,002 $2,098 $16,467 
Change in plan assets:
Fair value of plan assets at beginning of year$— $18,319 $— $16,248 
Actual return on plan assets— (794)— 855 
Company contributions— 456 — 875 
Benefits paid— (628)— (573)
Currency translation— (398)— 914 
Fair value of plan assets at end of year$— $16,955 $— $18,319 
Funded status at end of year$(1,997)$1,953 $(2,098)$1,852 
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to other postretirement benefit plans (in thousands):
OPEB Plans
December 31,
20242023
Change in benefit obligation:
Benefit obligation at beginning of year$2,490 $2,386 
Service cost (adjusted for actual employee contributions)16 17 
Interest cost110 111 
Contributions by participants— — 
Actuarial losses/(gains)(211)95 
Benefits paid(128)(119)
Plan amendments and other— — 
Benefit obligation at end of year$2,277 $2,490 
Change in plan assets:
Fair value of plan assets at beginning of year$— $— 
Company contributions128 119 
Contributions by participants— — 
Benefits paid(128)(119)
Fair value of plan assets at end of year$— $— 
Funded status at end of year$(2,277)$(2,490)
Schedule of Amounts Recognized in the Consolidated Balance Sheet Pretax Amounts
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Other assets$— $4,155 $— $4,573 
Other accrued expenses$(145)$(161)$(140)$(85)
Accrued pension and other postretirement costs$(1,852)$(2,041)$(1,958)$(2,636)
Accumulated other comprehensive loss$107 $961 $196 $492 
$(1,890)$2,914 $(1,902)$2,344 
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
OPEB Plans
December 31,
20242023
Other accrued expenses$(290)$(286)
Accrued pension and other postretirement costs$(1,987)$(2,204)
Accumulated other comprehensive gain$(566)$(367)
$(2,843)$(2,857)
Schedule of Actuarial Items Actuarial items consist of the following (in thousands):
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Unrecognized net actuarial loss$107 $921 $196 $448 
Unrecognized prior service cost— 40 — 44 
$107 $961 $196 $492 
Actuarial items consist of the following (in thousands):
OPEB Plans
December 31,
20242023
Unrecognized net actuarial gain$(566)$(367)
$(566)$(367)
Schedule of Additional Information Regarding Projected and Accumulated Benefit Obligations for the Pension Plans
The following table sets forth additional information regarding the projected and accumulated benefit obligations for the pension plans (in thousands):
December 31, 2024
U.S.
Plans		Non-U.S.
Plans
Accumulated benefit obligation, all plans
$1,997 $12,940 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$1,997 $2,377 
Accumulated benefit obligation
$1,997 $1,812 

December 31, 2023
U.S.
Plans		Non-U.S.
Plans
Accumulated benefit obligation, all plans
$2,098 $14,992 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$2,098 $2,842 
Accumulated benefit obligation
$2,098 $2,203 
Schedule of Components of Net Periodic Costs of Benefit Plans The following table sets forth the components of net periodic cost of pension (in thousands):
Years ended December 31,
202420232022
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Annual service cost
$— $264 $— $265 $— $308 
Interest cost
96 670 97 675 65 395 
Expected return on plan assets
— (844)— (879)— (454)
Amortization of actuarial losses
— 30 — 39 22 736 
Amortization of prior service cost— (10)— (10)— — 
Amortization of transition obligation
— — — — — (40)
Curtailment and settlement losses
— 18 — 50 — (512)
Net periodic benefit cost
$96 $128 $97 $140 $87 $433 
The following table sets forth the components of net periodic benefit costs (in thousands):
OPEB Plans
Years ended December 31,
202420232022
OPEB
Plans		OPEB
Plans		OPEB
Plans
Net service cost
16 17 29 
Interest cost
110 111 67 
Amortization of actuarial (gains)/ losses(11)(22)3 
Net periodic benefit cost
$115 $106 $99 
Schedule of Weighted-average Assumptions Used for Benefit Obligations and Net Periodic Pension Costs
The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
20242023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Discount rate5.35 %4.76 %4.71 %4.19 %
Rate of compensation increaseN/A4.51 %N/A4.00 %
Expected return on plan assetsN/A4.18 %N/A5.13 %
The following weighted-average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2024 and 2023:
20242023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Discount rate4.71 %4.19 %4.91 %4.23 %
Rate of compensation increaseN/A4.00 %N/A2.49 %
Expected return on plan assetsN/A5.13 %N/A3.96 %
The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
OPEB Plans
December 31,
20242023
Discount rate5.33 %4.69 %

The following weighted-average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2024 and 2023:
OPEB Plans
December 31,
20242023
Discount rate4.69 %4.88 %
Health care trend rate6.50 %6.50 %
Schedule of Composition of Plan Assets
Plan assets are comprised of:
December 31, 2024December 31, 2023
U.S.
Plans		Non-U.S.
Plans		U.S.
Plans		Non-U.S.
Plans
Equity securities— — %— — %
Fixed income securities— 72 %— 84 %
Cash and cash equivalents— 28 %— 16 %
Total— 100 %— 100 %
Schedule of Changes in Fair Value of Plan Assets for Each Hierarchy Level A summary of the Company’s pension plan assets for each fair value hierarchy level are as follows for the periods presented (see Note 17 for further description of the levels within the fair value hierarchy (in thousands)):
As of December 31, 2024Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$— $— $— $— 
Fixed income securities12,123 — 12,123 — 
Cash and cash equivalents4,832 1,780 3,052 — 
$16,955 $1,780 $15,175 $— 

As of December 31, 2023Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$— $— $— $— 
Fixed income securities15,417 — 15,417 — 
Cash and cash equivalents2,902 1,637 1,265 — 
$18,319 $1,637 $16,682 $— 
Schedule of Estimated future Benefit Payments
Estimated future benefit payments are as follows (in thousands):
US Pension
Plans		Non-US
Plans
2025$145 $813 
2026145 634 
2027145 790 
2028176 720 
2029174 1,106 
2030-2034812 6,112 
Estimated future benefit payments are as follows (in thousands):
OPEB
Plans
2025$290 
2026251 
2027256 
2028205 
2029153 
2029-2033726 
v3.25.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Units Activity
RSU activity is presented below (number of RSUs in thousands):
Years ended December 31,
202420232022
Number
of
RSUs		Weighted
Average
Grant-date
Fair Value		Number
of
RSUs		Weighted
Average
Grant-date
Fair Value		Number
of
RSUs		Weighted
Average
Grant-date
Fair Value
Outstanding:
Beginning of year202 $35.50 204 $29.92 198 $31.07 
Granted85 34.48 72 42.09 82 30.68 
Vested(55)32.68 (67)26.54 (40)34.29 
Forfeited— — (7)24.85 (36)33.15 
End of year232 $35.79 202 $35.50 204 $29.92 
Pre-tax Share-based Compensation Expense Recognized
The following table summarizes pre-tax share-based compensation expense recognized (in thousands):
Years ended December 31,
202420232022
Restricted stock units$971 $2,290 $2,439 
v3.25.0.1
Commitments, Contingencies, and Concentrations (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule Of Percentage Of Cash and Cash Equivalents Reported By Region See the following table for the percentage of cash and cash equivalents by region of subsidiary, at December 31, 2024 and December 31, 2023:
December 31,
20242023
Asia21 %22 %
United States6 %8 %
Israel56 %36 %
Europe14 %23 %
Canada3 %11 %
Total100 %100 %
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Leases Recorded on the Balance Sheet
Leases recorded on the balance sheet consist of the following (in thousands):
LeasesDecember 31, 2024December 31, 2023
 Assets
 Operating lease right of use asset$24,316 $26,953 
 Liabilities
 Operating lease - current$3,998 $4,004 
 Operating lease - non-current$19,928 $22,625 
Schedule of Other Information Related to Lease Term and Discount Rate
Other information related to lease term and discount rate is as follows:
December 31, 2024
 Operating leases weighted average remaining lease term (in years)7.1 years
 Operating leases weighted average discount rate5.01 %
Schedule of Components of Lease Expense
The components of lease expense are as follows (in thousands):
Year Ended
December 31, 2024December 31, 2023December 31, 2022
Operating lease cost$5,349 $5,171 $5,098 
Short-term lease cost45 150 121 
Sublease income(445)(385)(423)
 Total net lease cost$4,949 $4,936 $4,796 
Schedule of Maturities of Operating Lease Liabilities
Undiscounted maturities of operating lease payments as of December 31, 2024 are summarized as follows (in thousands):
2025$4,847 
20264,114 
20273,705 
20283,443 
20293,356 
Thereafter8,826 
 Total future minimum lease payments$28,291 
 Less: amount representing interest(4,365)
 Present value of future minimum lease payments$23,926 
v3.25.0.1
Segment and Geographic Data (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Reporting Segment Information
The following table sets forth reporting segment information (in thousands):
SensorsWeighing SolutionsMeasurement SystemsCorporate/
Other		Total
2024
Net third-party revenues$112,238 $107,205 $87,079 $— $306,522 
Intersegment revenues1,756 — — (1,756)— 
Total revenues113,994 107,205 87,079 (1,756)306,522 
Costs of products sold75,236 68,010 39,500 (1,756)180,990 
Gross profit38,758 39,195 47,579 — 125,532 
Research and development expenses4,196 5,302 10,461 — 19,959 
Segment selling, general, and administrative expenses*16,408 19,516 19,293 — 55,217 
Segment operating income 18,154 14,377 17,825 — 50,356 
Other supplemental information:
Acquisition costs— — 101 — 101 
Restructuring costs686 76 — 300 1,062 
Depreciation and amortization expense6,412 3,377 4,294 1,722 15,805 
Capital expenditures4,602 1,799 1,226 171 7,798 
Total assets170,567 123,477 138,419 18,472 450,935 
2023
Net third-party revenues$139,783 $122,528 $92,737 $— $355,048 
Intersegment revenues1,743 — — (1,743)— 
Total revenues141,526 122,528 92,737 (1,743)355,048 
Costs of products sold86,396 77,252 42,801 (1,743)204,706 
Gross profit55,130 45,276 49,936 — 150,342 
Research and development expenses4,424 5,518 10,433 — 20,375 
Segment selling, general, and administrative expenses*15,881 18,188 18,896 — 52,965 
Segment operating income 34,825 21,570 20,607 — 77,002 
Other supplemental information:
Restructuring costs— 1,478 32 50 1,560 
Depreciation and amortization expense6,141 3,389 4,239 1,781 15,550 
Capital expenditures8,181 6,447 1,111 2 15,741 
Total assets156,384 142,152 154,559 18,471 471,566 
2022
Net third-party revenues$152,221 $125,715 $84,644 $— $362,580 
Intersegment revenues2,121 — — (2,121)— 
Total revenues154,342 125,715 84,644 (2,121)362,580 
Costs of products sold93,255 82,537 39,307 (2,121)212,978 
Gross profit61,087 43,178 45,337 — 149,602 
Research and development expenses4,175 5,405 10,185 — 19,765 
Segment selling, general, and administrative expenses*15,241 16,541 16,753 — 48,535 
Segment operating income 41,671 21,232 18,399 — 81,302 
Other supplemental information:
Restructuring costs1,460 — 58 — 1,518 
Depreciation and amortization expense5,816 3,343 4,308 1,886 15,353 
Capital expenditures11,515 7,094 1,324 18 19,951 
Total assets156,816 148,041 153,547 18,338 476,742 
Schedule of Reporting Segment Information, Corporate Other and Excluded Items
Years ended December 31,
202420232022
Segment operating income $50,356 $77,002 $81,302 
Acquisition costs101 — — 
Restructuring costs1,062 1,560 1,518 
Unallocated G&A expenses32,329 33,488 35,985 
Operating income $16,864 $41,954 $43,799 
Other income (expense) $700 $(3,518)$1,289 
Income before taxes$17,564 $38,436 $45,088 
Schedule of Revenue From External Customers and Long-Lived Assets, by Geographical Areas
The following geographic data includes property and equipment based on physical location (in thousands):
December 31,
Property and Equipment - Net20242023
United States$7,125 $12,935 
Europe5,143 5,321 
Israel40,493 43,987 
Asia25,238 26,946 
Canada and Other1,502 1,447 
$79,501 $90,636 
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share):
Years ended December 31,
202420232022
Numerator:
Numerator for basic and diluted earnings per share:
Net earnings attributable to VPG stockholders
$9,911 $25,707 $36,063 
Denominator:
Denominator for basic earnings per share:
Weighted average shares
13,353 13,574 13,628 
Effect of dilutive securities:
Restricted stock units
33 79 60 
Dilutive potential common shares
33 79 60 
Denominator for diluted earnings per share:
Adjusted weighted average shares
13,386 13,653 13,688 
Basic earnings per share attributable to VPG stockholders
$0.74 $1.89 $2.65 
Diluted earnings per share attributable to VPG stockholders
$0.74 $1.88 $2.63 
v3.25.0.1
Additional Financial Statement Information (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Nonoperating Income (Expense)
The caption “Other” on the consolidated statements of operations consists of the following (in thousands):
Years ended December 31,
202420232022
Foreign exchange gain/(loss)$1,878 $(822)$3,579 
Interest income1,673 1,651 401 
Pension expense(55)(52)(241)
Other(284)(321)(181)
$3,212 $456 $3,558 
Schedule of Accrued Liabilities
Other accrued expenses consist of the following (in thousands):
December 31,
20242023
Customer advance payments$7,009 $8,712 
Accrued restructuring235 249 
Goods received, not yet invoiced1,572 2,837 
Accrued taxes, other than income taxes1,994 1,370 
Accrued commissions3,895 4,077 
Accrued professional fees1,587 1,343 
Accrued technical warranty857 770 
Current accrued pension and other post retirement costs596 511 
Other1,980 2,558 
$19,725 $22,427 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables provide the financial assets and liabilities carried at fair value measured on a recurring basis (in thousands):
As of December 31, 2024Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Assets:
Assets held in rabbi trusts$6,228 $45 $6,183 $— 
As of December 31, 2023Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Assets:
Assets held in rabbi trusts$5,841 $59 $5,782 $— 
v3.25.0.1
Background and Summary of Significant Accounting Policies (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Minimum ownership of fully controlled entities 100.00%    
Research and development expense $ 19,959 $ 20,375 $ 19,765
Recognized tax benefit to be realized upon ultimate settlement greater than 50 percent likely to be realized    
Allowance for credit losses $ 500 500  
Credit loss 100 200 0
Depreciation 12,000 11,800 11,500
Software      
Property, Plant and Equipment [Line Items]      
Depreciation $ 500 $ 800 $ 700
Minimum | Patents and acquired technology      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 7 years    
Minimum | Customer relationships      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 5 years    
Minimum | Trade names      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 7 years    
Minimum | Non-competition agreements      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 5 years    
Minimum | Machinery and Equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 7 years    
Minimum | Building & Improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 20 years    
Minimum | Software      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 3 years    
Maximum | Patents and acquired technology      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 20 years    
Maximum | Customer relationships      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 15 years    
Maximum | Trade names      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 10 years    
Maximum | Non-competition agreements      
Property, Plant and Equipment [Line Items]      
Finite-lived intangible assets, useful life (in years) 10 years    
Maximum | Machinery and Equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 15 years    
Maximum | Building & Improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 40 years    
Maximum | Software      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, useful life (in years) 5 years    
v3.25.0.1
Revenues - Schedule of Disaggregation of Revenue by Geographic Location (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenue $ 306,522 $ 355,048 $ 362,580
United States      
Disaggregation of Revenue [Line Items]      
Revenue 133,857 161,123 161,757
Europe      
Disaggregation of Revenue [Line Items]      
Revenue 87,403 95,513 94,347
Israel      
Disaggregation of Revenue [Line Items]      
Revenue 19,532 18,064 28,883
Asia      
Disaggregation of Revenue [Line Items]      
Revenue 44,245 57,935 58,654
Canada      
Disaggregation of Revenue [Line Items]      
Revenue 21,485 22,413 18,940
Sensors      
Disaggregation of Revenue [Line Items]      
Revenue 112,238 139,783 152,221
Sensors | United States      
Disaggregation of Revenue [Line Items]      
Revenue 38,500 49,998 51,246
Sensors | Europe      
Disaggregation of Revenue [Line Items]      
Revenue 31,827 36,095 35,419
Sensors | Israel      
Disaggregation of Revenue [Line Items]      
Revenue 19,156 17,772 28,413
Sensors | Asia      
Disaggregation of Revenue [Line Items]      
Revenue 22,755 35,918 37,143
Sensors | Canada      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Weighing Solutions      
Disaggregation of Revenue [Line Items]      
Revenue 107,205 122,528 125,715
Weighing Solutions | United States      
Disaggregation of Revenue [Line Items]      
Revenue 44,599 55,421 58,076
Weighing Solutions | Europe      
Disaggregation of Revenue [Line Items]      
Revenue 49,900 53,629 53,188
Weighing Solutions | Israel      
Disaggregation of Revenue [Line Items]      
Revenue 376 292 470
Weighing Solutions | Asia      
Disaggregation of Revenue [Line Items]      
Revenue 12,207 13,156 13,974
Weighing Solutions | Canada      
Disaggregation of Revenue [Line Items]      
Revenue 123 30 8
Measurement Systems      
Disaggregation of Revenue [Line Items]      
Revenue 87,079 92,737 84,644
Measurement Systems | United States      
Disaggregation of Revenue [Line Items]      
Revenue 50,758 55,703 52,435
Measurement Systems | Europe      
Disaggregation of Revenue [Line Items]      
Revenue 5,676 5,790 5,740
Measurement Systems | Israel      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Measurement Systems | Asia      
Disaggregation of Revenue [Line Items]      
Revenue 9,283 8,861 7,537
Measurement Systems | Canada      
Disaggregation of Revenue [Line Items]      
Revenue $ 21,362 $ 22,383 $ 18,932
v3.25.0.1
Revenues - Schedule of Disaggregation of Revenue by Market Sector (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenue $ 306,522 $ 355,048 $ 362,580
Test & Measurement      
Disaggregation of Revenue [Line Items]      
Revenue 57,314 73,986 78,406
Avionics, Military & Space      
Disaggregation of Revenue [Line Items]      
Revenue 28,066 38,270 31,399
Transportation      
Disaggregation of Revenue [Line Items]      
Revenue 52,329 55,060 55,892
Other Markets      
Disaggregation of Revenue [Line Items]      
Revenue 62,776 72,372 79,750
Industrial Weighing      
Disaggregation of Revenue [Line Items]      
Revenue 37,591 43,898 52,109
General Industrial      
Disaggregation of Revenue [Line Items]      
Revenue 19,341 19,917 21,179
Steel      
Disaggregation of Revenue [Line Items]      
Revenue $ 49,105 $ 51,545 $ 43,845
v3.25.0.1
Revenues - Schedule of Contract Assets and Liabilities (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Movement in Contract Assets and Liabilities [Roll Forward]  
Unbilled revenue, beginning balance $ 2,989
Unbilled revenue, ending balance 3,330
(Decrease) Increase in unbilled revenue 341
Contract liability, beginning balance 8,712
Contract liability, ending balance 8,272
(Decrease) Increase in accrued customer advances $ (440)
v3.25.0.1
Revenues - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Revenue from Contract with Customer [Abstract]  
Contract with customer, liability, revenue recognized $ 7.8
v3.25.0.1
Acquisition Activity - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]          
Acquisition costs     $ 101 $ 0 $ 0
Nokra          
Business Acquisition [Line Items]          
Purchase price $ 4,409        
Acquisition costs   $ 100      
Nokra | Acquired technology          
Business Acquisition [Line Items]          
Finite-lived intangible assets, useful life (in years) 10 years        
Nokra | Customer backlog          
Business Acquisition [Line Items]          
Finite-lived intangible assets, useful life (in years) 1 year        
v3.25.0.1
Acquisition Activity - Schedule of Assets Acquired and Liabilities Assumed - DTS (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Intangible assets:        
Goodwill   $ 46,819 $ 45,734 $ 45,544
Nokra        
Business Acquisition [Line Items]        
Working capital $ 1,214      
Property and equipment 113      
Deferred income tax liability (31)      
Intangible assets:        
Total intangible assets 1,352      
Fair value of acquired identifiable assets 2,648      
Purchase price 4,409      
Goodwill 1,761      
Nokra | Acquired technology        
Intangible assets:        
Total intangible assets 1,211      
Nokra | Customer backlog        
Intangible assets:        
Total intangible assets $ 141      
v3.25.0.1
Assets held for sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net Carrying Value $ 5,229 $ 0
Manufacuturing Facility, Weighing Solutions | Disposal Group, Held-for-Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Cost 6,710  
Accumulated Depreciation 1,481  
Net Carrying Value 5,229  
Land | Manufacuturing Facility, Weighing Solutions | Disposal Group, Held-for-Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Cost 1,800  
Accumulated Depreciation 0  
Net Carrying Value 1,800  
Building & Improvements | Manufacuturing Facility, Weighing Solutions | Disposal Group, Held-for-Sale, Not Discontinued Operations    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Cost 4,910  
Accumulated Depreciation 1,481  
Net Carrying Value $ 3,429  
v3.25.0.1
Goodwill and Other Intangible Assets - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
reportingUnit
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]      
Number of reporting units | reportingUnit 4    
Amortization expense | $ $ 3.8 $ 3.8 $ 3.9
v3.25.0.1
Goodwill and Other Intangible Assets - Schedule of Goodwill Activity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Beginning balance $ 45,734 $ 45,544
Foreign currency translation adjustment (676) 190
Goodwill acquired 1,761  
Ending balance 46,819 45,734
Steel | Measurement Systems    
Goodwill [Roll Forward]    
Beginning balance 6,488 6,313
Foreign currency translation adjustment (524) 175
Goodwill acquired 0  
Ending balance 5,964 6,488
Nokra | Measurement Systems    
Goodwill [Roll Forward]    
Beginning balance 0 0
Foreign currency translation adjustment (128) 0
Goodwill acquired 1,761  
Ending balance 1,633 0
DSI | Measurement Systems    
Goodwill [Roll Forward]    
Beginning balance 16,902 16,887
Foreign currency translation adjustment (24) 15
Goodwill acquired 0  
Ending balance 16,878 16,902
DTS | Measurement Systems    
Goodwill [Roll Forward]    
Beginning balance 16,033 16,033
Foreign currency translation adjustment 0 0
Goodwill acquired 0  
Ending balance 16,033 16,033
On-board Weighing | Weighing Solutions    
Goodwill [Roll Forward]    
Beginning balance 6,311 6,311
Foreign currency translation adjustment 0 0
Goodwill acquired 0  
Ending balance $ 6,311 $ 6,311
v3.25.0.1
Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Intangible assets subject to amortization    
Intangible assets subject to amortization (Definite-lived) $ 77,059 $ 77,762
Accumulated amortization (42,843) (40,810)
Net intangible assets subject to amortization 34,216 36,952
Intangible assets not subject to amortization    
Intangible assets, net 41,815 44,634
Trade names    
Intangible assets not subject to amortization    
Intangible assets not subject to amortization (Indefinite-lived) 7,599 7,682
Patents and acquired technology    
Intangible assets subject to amortization    
Intangible assets subject to amortization (Definite-lived) 31,890 32,752
Accumulated amortization (10,937) (11,048)
Customer relationships    
Intangible assets subject to amortization    
Intangible assets subject to amortization (Definite-lived) 32,683 33,537
Accumulated amortization (19,453) (18,306)
Trade names    
Intangible assets subject to amortization    
Intangible assets subject to amortization (Definite-lived) 3,236 1,517
Accumulated amortization (3,235) (1,517)
Non-competition agreements    
Intangible assets subject to amortization    
Intangible assets subject to amortization (Definite-lived) 9,250 9,956
Accumulated amortization $ (9,218) $ (9,939)
v3.25.0.1
Goodwill and Other Intangible Assets - Schedule of Estimated Annual Amortization Expense (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2025 $ 3,836
2026 3,748
2027 3,713
2028 3,172
2029 $ 3,128
v3.25.0.1
Restructuring Costs - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring and Related Activities [Abstract]      
Restructuring charges $ 1,062 $ 1,560 $ 1,518
v3.25.0.1
Restructuring Costs - Summary of Restructuring Activities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Reserve [Roll Forward]      
Balance at beginning of year $ 249 $ 183  
Restructuring charges 1,062 1,560 $ 1,518
Cash payments (949) (1,496)  
Foreign currency translation (127) 2  
Balance at end of year $ 235 $ 249 $ 183
v3.25.0.1
Income Taxes - Schedule of Components of Income Before Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ 11,651 $ (4,111) $ (4,979)
Foreign 5,913 42,547 50,067
Income before taxes $ 17,564 $ 38,436 $ 45,088
v3.25.0.1
Income Taxes - Schedule of Expense (Benefit) for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 331 $ 517 $ 21
State and local 75 162 97
Foreign 7,255 11,903 10,457
Current income tax expense (benefit) 7,661 12,582 10,575
Deferred:      
Federal 19 154 (2,808)
State and local (63) (628) 109
Foreign 113 318 659
Deferred income tax expense (benefit) 69 (156) (2,040)
Total income tax expense $ 7,730 $ 12,426 $ 8,535
v3.25.0.1
Income Taxes - Schedule of Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Tax at statutory rate $ 3,688 $ 8,072 $ 9,468
State income taxes, net of U.S. federal tax benefit 9 (368) 164
U.S. GILTI tax, net of foreign tax credits 41 72 8
Effect of foreign operations 2,688 2,378 1,246
Residual U.S. tax on foreign earnings 49 899 291
Change in valuation allowance 1,330 1,270 (1,629)
Change in unrecognized tax benefits, net 99 476 (1,000)
Specialty tax credits (502) (520) (639)
Statutory rate changes 172 56 3
Effect of foreign exchange (20) 128 667
Other 176 (37) (44)
Total income tax expense $ 7,730 $ 12,426 $ 8,535
v3.25.0.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Taxes [Line Items]        
Deferred tax benefits on foreign net operating loss carryforwards     $ 200  
GILTI tax recognized   $ 8,100 22,500  
U.S.tax on GILTI income, net of foreign tax credits   100 100  
Deferred tax liabilities, gross   15,899 15,115  
Valuation allowance adjustment   2,400    
Valuation allowance   15,380 13,136  
Undistributed earnings of foreign subsidiaries   300,500 277,600  
Deferred tax liability, undistributed earnings of foreign subsidiaries   2,300    
Undistributed accumulated earnings of foreign subsidiary   25,300    
Unremitted earnings withholding taxes   2,300    
Additional unremitted earnings withholding taxes   32,000    
Net income taxes paid   14,500 10,900 $ 10,800
Unrecognized tax benefits, income tax penalties and interest accrued   0 0 (200)
Penalties and interest accrued   100 0 0
Unrecognized tax benefits that would impact effective tax rate   800 800 $ 400
Nokra Optische Prueftechnik Und Automation Gmb H [Member]        
Income Taxes [Line Items]        
Deferred tax liabilities, gross $ 1,000      
Deferred tax liabilities, intangible assets 1,200      
Valuation allowance adjustment $ 100      
State and Local Jurisdiction        
Income Taxes [Line Items]        
Valuation allowance   $ 600 500  
State and Local Jurisdiction | Minimum        
Income Taxes [Line Items]        
Statutes of limitations range   3 years    
State and Local Jurisdiction | Maximum        
Income Taxes [Line Items]        
Statutes of limitations range   4 years    
Foreign Tax Jurisdiction | Minimum        
Income Taxes [Line Items]        
Increase in unrecognized tax benefits is reasonably possible   $ 100    
Statutes of limitations range   3 years    
Foreign Tax Jurisdiction | Maximum        
Income Taxes [Line Items]        
Increase in unrecognized tax benefits is reasonably possible   $ 200    
Statutes of limitations range   10 years    
United States        
Income Taxes [Line Items]        
Valuation allowance   $ 13,300 10,900  
United States | State and Local Jurisdiction        
Income Taxes [Line Items]        
Valuation allowance   7,122 6,545  
State Tax Rate Changes        
Income Taxes [Line Items]        
Valuation allowance adjustment   600    
Net Operating and Capital Loss Carryforward        
Income Taxes [Line Items]        
Valuation allowance   $ 2,100 $ 2,200  
v3.25.0.1
Income Taxes - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Pension and other postretirement costs $ 1,056 $ 1,082
Inventories 5,066 4,102
Net operating/capital loss and interest carryforwards 12,668 10,800
Tax credit carryforwards 1,952 1,390
Deferred compensation 3,116 2,845
Research and development costs 5,402 4,707
Other accruals and reserves 3,221 3,709
Total gross deferred tax assets 32,481 28,635
Less: valuation allowance (15,380) (13,136)
Deferred tax assets, net of valuation allowance 17,101 15,499
Deferred tax liabilities:    
Tax over book depreciation (2,387) (2,151)
Investment in subsidiary (2,271) (2,121)
Intangible assets, including tax deductible goodwill (11,241) (10,843)
Total gross deferred tax liabilities (15,899) (15,115)
Net deferred tax assets $ 1,202 $ 384
v3.25.0.1
Income Taxes - Schedule of Significant Valuation Allowances (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Tax Credit Carryforward [Line Items]    
Valuation allowance $ 15,380 $ 13,136
United States    
Tax Credit Carryforward [Line Items]    
Valuation allowance 13,300 10,900
Domestic Tax Jurisdiction | United States    
Tax Credit Carryforward [Line Items]    
Valuation allowance 6,185 4,402
State and Local Jurisdiction    
Tax Credit Carryforward [Line Items]    
Valuation allowance 600 500
State and Local Jurisdiction | United States    
Tax Credit Carryforward [Line Items]    
Valuation allowance 7,122 6,545
Capital Loss Carryforward | Israel    
Tax Credit Carryforward [Line Items]    
Valuation allowance $ 1,364 $ 1,369
v3.25.0.1
Income Taxes - Schedule of Significant Net Operating Losses and Credit Carryforwards (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
United States | Domestic Tax Jurisdiction  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards, not subject to expiration $ 2,801
Interest expense carryover 18,568
United States | Foreign Tax Jurisdiction  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 498
United States | State and Local Jurisdiction  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards 122,196
Israel | Foreign Tax Jurisdiction  
Operating Loss Carryforwards [Line Items]  
Operating loss carryforwards $ 5,908
v3.25.0.1
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of year $ 798 $ 439 $ 1,282
Addition based on tax positions related to current year 105 589 176
Addition based on tax positions related to prior years 0 0 216
Reduction based on tax positions related to prior years 0 (128) 0
Currency translation adjustments (5) (8) (6)
Reduction for settled tax examinations 0 0 (1,229)
Reduction for payments made 0 (94) 0
Reduction for lapses of statute of limitations (54) 0 0
Balance at end of year $ 844 $ 798 $ 439
v3.25.0.1
Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Deferred financing costs $ (559) $ (144)
Long-term debt 31,441 31,856
Revolving Credit Facility | 2024 Credit Agreement    
Debt Instrument [Line Items]    
Secured debt $ 32,000 $ 32,000
v3.25.0.1
Long-Term Debt - Narrative (Details)
 12 Months Ended
Aug. 15, 2024
USD ($)
day
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Debt Instrument [Line Items]        
Interest paid   $ 2,500,000 $ 4,000,000 $ 2,300,000
Credit Agreement 2024 | Minimum        
Debt Instrument [Line Items]        
Interest rate in addition to LIBOR 1.75%      
Quarterly commitment fee 0.20%      
Credit Agreement 2024 | Maximum        
Debt Instrument [Line Items]        
Interest rate in addition to LIBOR 3.00%      
Quarterly commitment fee 0.40%      
Credit Agreement 2024 | Revolving Credit Facility        
Debt Instrument [Line Items]        
Principal amount $ 75,000,000      
Line of credit facility, accordion feature, increase limit $ 25,000,000      
Credit Agreement 2024 | Revolving Credit Facility | United States | Interest Rate Floor        
Debt Instrument [Line Items]        
Interest rate in addition to LIBOR 1.00%      
Credit Agreement 2024 | Revolving Credit Facility | United States | Base Rate        
Debt Instrument [Line Items]        
Interest rate in addition to LIBOR 0.25%      
Credit Agreement 2024 | Revolving Credit Facility | Canada | Base Rate        
Debt Instrument [Line Items]        
Average day rate for loans accruing interest | day 30      
Credit Agreement 2024 | Letter Of Credit        
Debt Instrument [Line Items]        
Principal amount $ 10,000,000      
Other Lines of Credit | Line of Credit        
Debt Instrument [Line Items]        
Principal amount   5,000,000 5,000,000.0  
Letters of credit outstanding   $ 2,400,000 $ 2,400,000  
v3.25.0.1
Long-Term Debt - Schedule of Maturity of Long-term Debt (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Debt Disclosure [Abstract]  
2025 $ 0
2026 0
2027 0
2028 0
2029 32,000
Thereafter
v3.25.0.1
Stockholders' Equity - Narrative (Details)
 12 Months Ended 24 Months Ended
Dec. 31, 2024
vote
shares
Dec. 31, 2023
shares
Dec. 31, 2022
shares
Aug. 09, 2024
shares
Aug. 08, 2022
shares
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Common stock, number of votes | vote 1        
Number of shares authorized to be repurchased (in shares)         600,000
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000      
Preferred stock, shares outstanding (in shares) 0        
Treasury Stock          
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Purchase of treasury stock (in shares) 244,702 188,413 85,213    
Common Class B          
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Common stock, number of votes | vote 10        
Conversion ratio 1        
Common Class B | Treasury Stock          
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Purchase of treasury stock (in shares)       518,328  
v3.25.0.1
Stockholders' Equity - Schedule of Components of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period $ 329,925 $ 306,522 $ 277,042
Other comprehensive income (loss), before tax amount (12,639) 2,072 (4,534)
Other comprehensive income (loss), tax effect 2,611 (41) (1,358)
Other comprehensive income (loss), net of tax (10,028) 2,031 (5,892)
Balance at end of period 321,860 329,925 306,522
Accumulated Other Comprehensive Income (Loss)      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (38,869) (40,900) (35,008)
Other comprehensive income (loss), net of tax (10,028) 2,031 (5,892)
Balance at end of period (48,897) (38,869) (40,900)
Pension and other postretirement actuarial items      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 393 589 (4,732)
Balance at end of period   393 589
Pension and other postretirement actuarial items, before reclassifications      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 391 44  
Other comprehensive income (loss), before reclassifications, before tax amount (471) (172) 5,797
Other comprehensive income (loss), before reclassifications, tax 112 (26) (1,021)
Other comprehensive income (loss), before reclassifications, net of tax amount (359) (198) 4,776
Balance at end of period 34 391 44
Reclassification adjustment for recognition of actuarial items      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Reclassification adjustment, before tax amount (21) 7 721
Reclassification adjustment, tax effect 5 (5) (176)
Reclassification adjustment, net of tax amount (16) 2 545
Foreign currency translation adjustment      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (39,262) (41,489) (30,276)
Other comprehensive income (loss), before reclassifications, before tax amount (12,147) 2,237  
Other comprehensive income (loss), before reclassifications, tax 2,494 (10)  
Other comprehensive income (loss), before reclassifications, net of tax amount (9,653) 2,227  
Reclassification adjustment, before tax amount     191
Reclassification adjustment, tax effect     0
Reclassification adjustment, net of tax amount     191
Balance at end of period $ (48,915) (39,262) (41,489)
Foreign currency translation adjustment, before reclassifications      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period   $ (41,680)  
Other comprehensive income (loss), before reclassifications, before tax amount     (11,243)
Other comprehensive income (loss), before reclassifications, tax     (161)
Other comprehensive income (loss), before reclassifications, net of tax amount     (11,404)
Balance at end of period     $ (41,680)
v3.25.0.1
Pensions and Other Postretirement Benefits - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined benefit plan, employer contribution next fiscal year $ 1,200    
Ultimate health care cost trend rate 4.04%    
Defined contribution plan, cost $ 1,200 $ 1,200 $ 1,100
Liability, defined benefit plan, noncurrent 6,695 7,276  
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Assets held-in-trust 4,600 4,300  
Liability, defined benefit plan, noncurrent $ 5,900 $ 5,600  
OPEB Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Ultimate health care cost trend rate 6.50% 6.50%  
Other retirement obligations $ 500 $ 500  
Liability, defined benefit plan, noncurrent 1,987 2,204  
United States | Pension Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Assets held-in-trust 1,600 1,600  
Liability, defined benefit pension plan, noncurrent 2,100 2,100  
Liability, defined benefit plan, noncurrent 1,852 1,958  
Foreign Plan | Pension Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Liability, defined benefit plan, noncurrent $ 2,041 $ 2,636  
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Reconciliation of The Benefit Obligation, Plan Assets and Funded Status (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in plan assets:      
Fair value of plan assets at beginning of year $ 18,319    
Fair value of plan assets at end of year 16,955 $ 18,319  
Pension Plans | United States      
Change in benefit obligation:      
Benefit obligation at beginning of year 2,098 2,050  
Service cost (adjusted for actual employee contributions) 0 0 $ 0
Interest cost 96 97 65
Actuarial loss/(gains) (89) 59  
Benefits paid (108) (108)  
Curtailments and settlements 0 0  
Currency translation 0 0  
Benefit obligation at end of year 1,997 2,098 2,050
Change in plan assets:      
Fair value of plan assets at beginning of year 0 0  
Actual return on plan assets 0 0  
Company contributions 0 0  
Benefits paid 0 0  
Currency translation 0 0  
Fair value of plan assets at end of year 0 0 0
Funded status at end of year (1,997) (2,098)  
Pension Plans | Foreign Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 16,467 15,853  
Service cost (adjusted for actual employee contributions) 264 265 308
Interest cost 670 675 395
Actuarial loss/(gains) (1,015) 6  
Benefits paid (628) (573)  
Curtailments and settlements (199) (310)  
Currency translation (557) 551  
Benefit obligation at end of year 15,002 16,467 15,853
Change in plan assets:      
Fair value of plan assets at beginning of year 18,319 16,248  
Actual return on plan assets (794) 855  
Company contributions 456 875  
Benefits paid (628) (573)  
Currency translation (398) 914  
Fair value of plan assets at end of year 16,955 18,319 16,248
Funded status at end of year 1,953 1,852  
OPEB Plans      
Change in benefit obligation:      
Benefit obligation at beginning of year 2,490 2,386  
Service cost (adjusted for actual employee contributions) 16 17 29
Interest cost 110 111 67
Contributions by participants 0 0  
Actuarial loss/(gains) (211) 95  
Benefits paid (128) (119)  
Plan amendments and other 0 0  
Benefit obligation at end of year 2,277 2,490 2,386
Change in plan assets:      
Fair value of plan assets at beginning of year 0 0  
Company contributions 128 119  
Contributions by participants 0 0  
Benefits paid (128) (119)  
Fair value of plan assets at end of year 0 0 $ 0
Funded status at end of year $ (2,277) $ (2,490)  
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Accrued Pension and Other Postretirement Costs (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Liability, defined benefit plan, noncurrent $ (6,695) $ (7,276)
Pension Plans | United States    
Defined Benefit Plan Disclosure [Line Items]    
Assets, defined benefit plan 0 0
Liability, defined benefit plan, current (145) (140)
Liability, defined benefit plan, noncurrent (1,852) (1,958)
Accumulated other comprehensive gain 107 196
Amounts forasset (liability) recognized in statement of financial position (1,890) (1,902)
Pension Plans | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Assets, defined benefit plan 4,155 4,573
Liability, defined benefit plan, current (161) (85)
Liability, defined benefit plan, noncurrent (2,041) (2,636)
Accumulated other comprehensive gain 961 492
Amounts forasset (liability) recognized in statement of financial position 2,914 2,344
OPEB Plans    
Defined Benefit Plan Disclosure [Line Items]    
Liability, defined benefit plan, current (290) (286)
Liability, defined benefit plan, noncurrent (1,987) (2,204)
Accumulated other comprehensive gain (566) (367)
Amounts forasset (liability) recognized in statement of financial position $ 2,843 $ 2,857
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Unrecognized Actuarial Gains and Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Pension Plans | United States    
Defined Benefit Plan Disclosure [Line Items]    
Unrecognized net actuarial loss $ 107 $ 196
Unrecognized prior service cost 0 0
Benefit plans, accumulated other comprehensive income (loss) before tax 107 196
Pension Plans | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Unrecognized net actuarial loss 921 448
Unrecognized prior service cost 40 44
Benefit plans, accumulated other comprehensive income (loss) before tax 961 492
OPEB Plans    
Defined Benefit Plan Disclosure [Line Items]    
Unrecognized net actuarial loss (566) (367)
Benefit plans, accumulated other comprehensive income (loss) before tax $ (566) $ (367)
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Projected and Accumulated Benefit Obligations (Details) - Pension Plans - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
United States    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation, all plans $ 1,997 $ 2,098
Plans for which the accumulated benefit obligation exceeds plan assets:    
Projected benefit obligation 1,997 2,098
Accumulated benefit obligation 1,997 2,098
Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation, all plans 12,940 14,992
Plans for which the accumulated benefit obligation exceeds plan assets:    
Projected benefit obligation 2,377 2,842
Accumulated benefit obligation $ 1,812 $ 2,203
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Components of Net Periodic Cost of Pension and Other Postretirement Benefit Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit cost $ 55 $ 52 $ 241
Pension Plans | United States      
Defined Benefit Plan Disclosure [Line Items]      
Annual service cost 0 0 0
Interest cost 96 97 65
Expected return on plan assets 0 0 0
Amortization of actuarial losses 0 0 22
Amortization of prior service cost 0 0 0
Amortization of transition obligation 0 0 0
Curtailment and settlement losses 0 0 0
Net periodic benefit cost 96 97 87
Pension Plans | Foreign Plan      
Defined Benefit Plan Disclosure [Line Items]      
Annual service cost 264 265 308
Interest cost 670 675 395
Expected return on plan assets (844) (879) (454)
Amortization of actuarial losses 30 39 736
Amortization of prior service cost (10) (10) 0
Amortization of transition obligation 0 0 (40)
Curtailment and settlement losses 18 50 (512)
Net periodic benefit cost 128 140 433
OPEB Plans      
Defined Benefit Plan Disclosure [Line Items]      
Annual service cost 16 17 29
Interest cost 110 111 67
Amortization of actuarial losses (11) (22) 3
Net periodic benefit cost $ 115 $ 106 $ 99
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Health care trend rate, net periodic pension cost 4.04%  
Pension Plans | United States    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate, benefit obligation 5.35% 4.71%
Discount rate, net periodic pension cost 4.71% 4.91%
Pension Plans | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate, benefit obligation 4.76% 4.19%
Rate of compensation increase, benefit obligation 4.51% 4.00%
Expected return on plan assets, benefit obligation 4.18% 5.13%
Discount rate, net periodic pension cost 4.19% 4.23%
Rate of compensation increase, net periodic pension cost 4.00% 2.49%
Expected return on plan assets, net periodic pension cost 5.13% 3.96%
OPEB Plans    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate, benefit obligation 5.33% 4.69%
Discount rate, net periodic pension cost 4.69% 4.88%
Health care trend rate, net periodic pension cost 6.50% 6.50%
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Plan Assets (Details) - Pension Plans
Dec. 31, 2024
Dec. 31, 2023
United States    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 0.00% 0.00%
Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 100.00% 100.00%
Equity securities | United States    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 0.00% 0.00%
Equity securities | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 0.00% 0.00%
Fixed income securities | United States    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 0.00% 0.00%
Fixed income securities | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 72.00% 84.00%
Cash and cash equivalents | United States    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 0.00% 0.00%
Cash and cash equivalents | Foreign Plan    
Defined Benefit Plan Disclosure [Line Items]    
Plan assets 28.00% 16.00%
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Fair Value of Plan Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets $ 16,955 $ 18,319
Level 1 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 1,780 1,637
Level 2 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 15,175 16,682
Level 3 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Equity securities | Level 1 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Equity securities | Level 2 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Equity securities | Level 3 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Fixed income securities    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 12,123 15,417
Fixed income securities | Level 1 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Fixed income securities | Level 2 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 12,123 15,417
Fixed income securities | Level 3 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 0 0
Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 4,832 2,902
Cash and cash equivalents | Level 1 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 1,780 1,637
Cash and cash equivalents | Level 2 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets 3,052 1,265
Cash and cash equivalents | Level 3 Inputs    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit pension plan assets $ 0 $ 0
v3.25.0.1
Pensions and Other Postretirement Benefits - Schedule of Estimated Future Benefit Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Pension Plans | United States  
Defined Benefit Plan Disclosure [Line Items]  
2025 $ 145
2026 145
2027 145
2028 176
2029 174
2030-2034 812
Pension Plans | Foreign Plan  
Defined Benefit Plan Disclosure [Line Items]  
2025 813
2026 634
2027 790
2028 720
2029 1,106
2030-2034 6,112
OPEB Plans  
Defined Benefit Plan Disclosure [Line Items]  
2025 290
2026 251
2027 256
2028 205
2029 153
2030-2034 $ 726
v3.25.0.1
Share-Based Compensation (Narrative) (Details)
 3 Months Ended 12 Months Ended
Dec. 04, 2024
USD ($)
shares
Aug. 14, 2024
USD ($)
shares
May 22, 2024
USD ($)
shares
Mar. 07, 2024
USD ($)
people
shares
Dec. 31, 2022
USD ($)
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of shares authorized (up to) | shares           608,000    
Number of shares available for grant (in shares) | shares           440,970    
Share-based payment expense adjustment         $ 300,000 $ (1,500,000) $ (400,000)  
Tax benefit, share-based compensation           200,000 500,000 $ 500,000
Deferred tax benefit, share-based compensation           (300,000) $ 100,000 $ 200,000
Unrecognized share-based compensation expense           $ 300,000    
Unrecognized share-based compensation expense recognition period           4 months 24 days    
Restricted Stock Units (RSUs)                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Weighted average grant date fair value $ 0.04 $ 60,000.00 $ 500,000          
Number of RSUs granted (in shares) | shares 1,588 2,265 14,826     85,000 72,000 82,000
Fair value of RSU's vested           $ 1,900,000    
Award vesting period (in years)           3 years    
Executive Officer | Restricted Stock Units (RSUs)                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of people granted awards | people       3        
Percentage of performance based units on total units approved (percent)       50.00%        
Weighted average grant date fair value       $ 1,700,000        
Number of RSUs granted (in shares) | shares       49,190        
Award vesting period (in years)       3 years        
Executive Officer | Restricted Stock Units (RSUs) | Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Award vesting rights (percent)       50.00%        
Employees | Restricted Stock Units (RSUs)                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Weighted average grant date fair value       $ 600,000        
Number of RSUs granted (in shares) | shares       16,821        
Award vesting period (in years)       3 years        
Employees | Restricted Stock Units (RSUs) | Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of performance based units on total units approved (percent)       75.00%        
Award vesting rights (percent)       25.00%        
Employees | Restricted Stock Units (RSUs) | Tranche Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of performance based units on total units approved (percent)       50.00%        
Award vesting rights (percent)       50.00%        
v3.25.0.1
Share-Based Compensation (Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares
 12 Months Ended
Dec. 04, 2024
Aug. 14, 2024
May 22, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of RSUs            
Number of RSUs, beginning of year (in shares)       202,000 204,000 198,000
Number of RSUs, granted (in shares) 1,588 2,265 14,826 85,000 72,000 82,000
Number of RSUs, vested (in shares)       (55,000) (67,000) (40,000)
Number of RSUs, forfeited (in shares)       0 (7,000) (36,000)
Number of RSUs, end of year (in shares)       232,000 202,000 204,000
Weighted Average Grant-date Fair Value            
Weighted average grant-date fair value, beginning of year (in dollars per share)       $ 35.50 $ 29.92 $ 31.07
Weighted average grant-date fair value, granted (in dollars per share)       34.48 42.09 30.68
Weighted average grant-date fair value, vested (in dollars per share)       32.68 26.54 34.29
Weighted average grant-date fair value, forfeited (in dollars per share)       0 24.85 33.15
Weighted average grant-date fair value, end of year (in dollars per share)       $ 35.79 $ 35.50 $ 29.92
v3.25.0.1
Share-Based Compensation (Pre-Tax Share-Based Compensation Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units $ 971 $ 2,290 $ 2,439
v3.25.0.1
Commitments, Contingencies, and Concentrations (Narrative) (Details) - 3 months ended Jun. 29, 2024
₪ in Millions, $ in Millions
ILS (₪)
USD ($)
Israel Tax Authority    
Cash and Cash Equivalents by Region [Line Items]    
Revenue from contract with customer, including assessed tax ₪ 8.4 $ 2.3
v3.25.0.1
Commitments, Contingencies, and Concentrations (Schedule Of Percentage Of Cash and Cash Equivalents Reported By Region) (Details)
Dec. 31, 2024
Dec. 31, 2023
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 100.00% 100.00%
Asia    
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 21.00% 22.00%
United States    
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 6.00% 8.00%
Israel    
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 56.00% 36.00%
Europe    
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 14.00% 23.00%
Canada    
Cash and Cash Equivalents by Region [Line Items]    
Percentage of cash and cash equivalents by region 3.00% 11.00%
v3.25.0.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]    
Right-of-use asset obtained in exchange for operating lease liability $ 2.0 $ 6.8
Operating lease, expense $ 5.2 $ 5.1
Minimum    
Lessee, Lease, Description [Line Items]    
Lessee, operating lease, remaining term 1 year  
Maximum    
Lessee, Lease, Description [Line Items]    
Lessee, operating lease, remaining term 11 years 10 months 13 days  
v3.25.0.1
Leases - Schedule of Leases Recorded on the Balance Sheet (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Operating lease right of use asset $ 24,316 $ 26,953
Liabilities    
Operating lease - current 3,998 4,004
Operating lease - non-current $ 19,928 $ 22,625
v3.25.0.1
Leases - Other Information Related to Leases (Details)
Dec. 31, 2024
Leases [Abstract]  
Operating leases weighted average remaining lease term (years) 7 years 1 month 6 days
Operating leases weighted average discount rate (percent) 5.01%
v3.25.0.1
Leases - Components of Lease Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 5,349 $ 5,171 $ 5,098
Short-term lease cost 45 150 121
Sublease income (445) (385) (423)
Total net lease cost $ 4,949 $ 4,936 $ 4,796
v3.25.0.1
Leases - Maturities of Operating Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 4,847
2026 4,114
2027 3,705
2028 3,443
2029 3,356
Thereafter 8,826
Total future minimum lease payments 28,291
Less: amount representing interest (4,365)
Present value of future minimum lease payments $ 23,926
v3.25.0.1
Segment and Geographic Data - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reportable segments 3
v3.25.0.1
Segment and Geographic Data - Schedule of Segment Reporting (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net revenues $ 306,522 $ 355,048 $ 362,580
Costs of products sold 180,990 204,706 212,978
Gross profit 125,532 150,342 149,602
Research and development expenses 19,959 20,375 19,765
Segment selling, general, and administrative expenses 55,217 52,965 48,535
Segment operating income 50,356 77,002 81,302
Segment operating income 16,864 41,954 43,799
Other supplemental information:      
Acquisition costs 101 0 0
Restructuring charges 1,062 1,560 1,518
Depreciation and amortization expense 15,805 15,550 15,353
Capital expenditures 7,798 15,741 19,951
Total assets 450,935 471,566 476,742
Sensors      
Segment Reporting Information [Line Items]      
Net revenues 112,238 139,783 152,221
Weighing Solutions      
Segment Reporting Information [Line Items]      
Net revenues 107,205 122,528 125,715
Measurement Systems      
Segment Reporting Information [Line Items]      
Net revenues 87,079 92,737 84,644
Intersegment revenues      
Segment Reporting Information [Line Items]      
Net revenues (1,756) (1,743) (2,121)
Intersegment revenues | Sensors      
Segment Reporting Information [Line Items]      
Net revenues 1,756 1,743 2,121
Intersegment revenues | Weighing Solutions      
Segment Reporting Information [Line Items]      
Net revenues 0 0 0
Intersegment revenues | Measurement Systems      
Segment Reporting Information [Line Items]      
Net revenues   0 0
Operating Segments | Sensors      
Segment Reporting Information [Line Items]      
Net revenues 113,994 141,526 154,342
Costs of products sold 75,236 86,396 93,255
Gross profit 38,758 55,130 61,087
Research and development expenses 4,196 4,424 4,175
Segment selling, general, and administrative expenses 16,408 15,881 15,241
Segment operating income 18,154 34,825 41,671
Other supplemental information:      
Acquisition costs 0    
Restructuring charges 686 0 1,460
Depreciation and amortization expense 6,412 6,141 5,816
Capital expenditures 4,602 8,181 11,515
Total assets 170,567 156,384 156,816
Operating Segments | Weighing Solutions      
Segment Reporting Information [Line Items]      
Net revenues 107,205 122,528 125,715
Costs of products sold 68,010 77,252 82,537
Gross profit 39,195 45,276 43,178
Research and development expenses 5,302 5,518 5,405
Segment selling, general, and administrative expenses 19,516 18,188 16,541
Segment operating income 14,377 21,570 21,232
Other supplemental information:      
Acquisition costs 0    
Restructuring charges 76 1,478 0
Depreciation and amortization expense 3,377 3,389 3,343
Capital expenditures 1,799 6,447 7,094
Total assets 123,477 142,152 148,041
Operating Segments | Measurement Systems      
Segment Reporting Information [Line Items]      
Net revenues 87,079 92,737 84,644
Costs of products sold 39,500 42,801 39,307
Gross profit 47,579 49,936 45,337
Research and development expenses 10,461 10,433 10,185
Segment selling, general, and administrative expenses 19,293 18,896 16,753
Segment operating income 17,825 20,607 18,399
Other supplemental information:      
Acquisition costs 101    
Restructuring charges 0 32 58
Depreciation and amortization expense 4,294 4,239 4,308
Capital expenditures 1,226 1,111 1,324
Total assets 138,419 154,559 153,547
Corporate/ Other      
Segment Reporting Information [Line Items]      
Net revenues (1,756) (1,743) (2,121)
Costs of products sold (1,756) (1,743) (2,121)
Gross profit 0   0
Segment operating income 0 0 0
Other supplemental information:      
Acquisition costs 0    
Restructuring charges 300 50 0
Depreciation and amortization expense 1,722 1,781 1,886
Capital expenditures 171 2 18
Total assets $ 18,472 $ 18,471 $ 18,338
v3.25.0.1
Segment and Geographic Data - Schedule of Operating Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Segment operating income $ 50,356 $ 77,002 $ 81,302
Acquisition costs 101 0 0
Restructuring charges 1,062 1,560 1,518
Operating income 16,864 41,954 43,799
Other income (expense) 700 (3,518) 1,289
Income before taxes 17,564 38,436 45,088
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Segment operating income 50,356 77,002 81,302
Unallocated G&A expenses $ 32,329 $ 33,488 $ 35,985
v3.25.0.1
Segment and Geographic Data - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 79,501 $ 90,636
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 7,125 12,935
Europe    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 5,143 5,321
Israel    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 40,493 43,987
Asia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 25,238 26,946
Canada and Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 1,502 $ 1,447
v3.25.0.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Numerator for basic and diluted earnings per share:      
Net earnings attributable to VPG stockholders, basic $ 9,911 $ 25,707 $ 36,063
Net earnings attributable to VPG stockholders, diluted $ 9,911 $ 25,707 $ 36,063
Denominator:      
Weighted average shares (in shares) 13,353 13,574 13,628
Effect of dilutive securities:      
Restricted stock units (shares) 33 79 60
Dilutive potential common shares (in shares) 33 79 60
Denominator for diluted earnings per share:      
Adjusted weighted average shares (in shares) 13,386 13,653 13,688
Basic earnings per share attributable to VPG stockholders (in dollars per share) $ 0.74 $ 1.89 $ 2.65
Diluted earnings per share attributable to VPG stockholders (in dollars per share) $ 0.74 $ 1.88 $ 2.63
v3.25.0.1
Additional Financial Statement Information - Schedule of Other Nonoperating Income (Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Foreign exchange gain/(loss) $ 1,878 $ (822) $ 3,579
Interest income 1,673 1,651 401
Pension expense (55) (52) (241)
Other (284) (321) (181)
Other nonoperating income (expense) $ 3,212 $ 456 $ 3,558
v3.25.0.1
Additional Financial Statement Information - Schedule of Other Accrued Expenses (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Customer advance payments $ 7,009 $ 8,712  
Restructuring Reserve 235 249 $ 183
Goods received, not yet invoiced 1,572 2,837  
Accrued taxes, other than income taxes 1,994 1,370  
Accrued commissions 3,895 4,077  
Accrued professional fees 1,587 1,343  
Accrued technical warranty 857 770  
Current accrued pension and other post retirement costs 596 511  
Other 1,980 2,558  
Other accrued expenses $ 19,725 $ 22,427  
v3.25.0.1
Additional Financial Statement Information - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Condensed Balance Sheet Statements, Captions [Line Items]    
Monthly deposits as percentage of monthly salary 8.33%  
Other Liabilities    
Condensed Balance Sheet Statements, Captions [Line Items]    
Severance benefits $ 6.2 $ 7.1
Other Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Severance benefits $ 5.0 $ 5.3
v3.25.0.1
Fair Value Measurements (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets held in rabbi trusts $ 6,228 $ 5,841
Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets held in rabbi trusts 45 59
Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets held in rabbi trusts 6,183 5,782
Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets held in rabbi trusts $ 0 $ 0
v3.25.0.1
Related Party Transactions (Details) - Vishay Intertechnology
 12 Months Ended
Dec. 31, 2024
facility
board_member
Related Party Transaction [Line Items]  
Number of common board members | board_member 3
Japan  
Related Party Transaction [Line Items]  
Manufacturing facility | facility 1