Myers Industries (MYE) 10-K5 Mar 242023 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Entity Registrant Name	MYERS INDUSTRIES, INC.
Entity Central Index Key	0000069488
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	MYE
Security Exchange Name	NYSE
Entity File Number	001-08524
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0778636
Entity Address, Address Line One	1293 S. MAIN STREET
Entity Address, City or Town	AKRON
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44301
City Area Code	330
Local Phone Number	253-5592
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 489,522,354
Entity Common Stock, Shares Outstanding		36,867,874
Auditor Name	Ernst & Young LLP
Auditor Location	Akron, Ohio
Auditor Firm ID	42
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE: Portions of the Registrant’s Definitive Proxy Statement for its 2024 Annual Meeting of Stockholders are incorporated by reference in Part III of this Form 10-K.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 813,067	$ 899,547	$ 761,435
Cost of sales	553,981	616,181	550,014
Gross profit	259,086	283,366	211,421
Selling, general and administrative expenses	186,876	199,489	163,502
(Gain) loss on disposal of fixed assets	(195)	(667)	(1,382)
Other (income) expenses	0	603	0
Operating income	72,405	83,941	49,301
Interest expense, net	6,349	5,731	4,208
Income before income taxes	66,056	78,210	45,093
Income tax expense	17,189	17,943	11,555
Net income	$ 48,867	$ 60,267	$ 33,538
Net income per common share:
Basic	$ 1.33	$ 1.66	$ 0.93
Diluted	1.32	1.64	0.92
Dividends declared per share	$ 0.54	$ 0.54	$ 0.54

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 48,867	$ 60,267	$ 33,538
Other comprehensive income (loss):
Foreign currency translation adjustment	859	(2,475)	39
Pension liability, net of tax expense (benefit) of $40, $28 and $111, respectively	119	83	333
Total other comprehensive income	978	(2,392)	372
Comprehensive income	$ 49,845	$ 57,875	$ 33,910

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Tax expense on pension liability	$ 40	$ 28	$ 111

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash	$ 30,290	$ 23,139
Trade accounts receivable, less allowances of $4,189 and $3,259, respectively	113,907	126,184
Other accounts receivable, net	14,726	7,532
Inventories, net	90,844	93,351
Prepaid expenses and other current assets	6,854	7,001
Total Current Assets	256,621	257,207
Property, plant, and equipment, net	107,933	101,566
Right of use asset - operating leases	27,989	28,908
Goodwill	95,392	95,157
Intangible assets, net	45,129	51,752
Deferred income taxes	209	129
Other	8,358	7,915
Total Assets	541,631	542,634
Current Liabilities
Accounts payable	79,050	73,536
Accrued employee compensation	17,104	24,664
Income taxes payable	4,253	2,054
Accrued taxes payable, other than income taxes	2,582	3,169
Accrued interest	1,112	1,264
Other current liabilities	28,472	26,380
Operating lease liability - short-term	5,943	6,177
Finance lease liability - short-term	593	518
Long-term debt - current portion	25,998	0
Total Current Liabilities	165,107	137,762
Long-term debt	31,989	93,962
Operating lease liability - long-term	22,352	22,786
Finance lease liability - long-term	8,615	8,919
Other liabilities	12,108	15,270
Deferred income taxes	8,660	7,508
Total Liabilities	248,831	286,207
Shareholders’ Equity
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	0	0
Common Shares, without par value (authorized 60,000,000 shares; outstanding 36,848,465 and 36,500,020; net of treasury shares of 5,703,992 and 6,052,437, respectively)	22,608	22,332
Additional paid-in capital	322,526	315,865
Accumulated other comprehensive loss	(16,815)	(17,793)
Retained deficit	(35,519)	(63,977)
Total Shareholders’ Equity	292,800	256,427
Total Liabilities and Shareholders’ Equity	$ 541,631	$ 542,634

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Allowance for doubtful trade accounts receivable, current	$ 4,189	$ 3,259
Shareholders’ Equity
Preferred Shares, shares authorized (in shares)	1,000,000	1,000,000
Preferred Shares, shares issued (in shares)	0	0
Preferred Shares, shares outstanding (in shares)	0	0
Common Shares, shares authorized (in shares)	60,000,000	60,000,000
Common Shares, shares outstanding (in shares)	36,848,465	36,500,020
Common shares, treasury (in shares)	5,703,992	6,052,437

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Deficit [Member]
Beginning balance at Dec. 31, 2020	$ 189,100	$ 21,939	$ 300,852	$ (15,773)	$ (117,918)
Beginning balance, shares at Dec. 31, 2020		35,921,025
Stockholders' Equity [Roll Forward]
Net Income (Loss)	33,538	$ 0	0	0	33,538
Beginning balance at Dec. 31, 2020	189,100	21,939	300,852	(15,773)	(117,918)
Stockholders' Equity [Roll Forward]
Issuances under option plans	$ 3,696	$ 135	3,561	0	0
Issuances under option plans, shares	192,504	221,060
Dividend reinvestment plan	$ 97	$ 3	94	0	0
Dividend reinvestment plan, shares		4,636
Restricted stock vested	0	$ 95	(95)	0	0
Restricted stock vested, shares		155,406
Stock compensation expense	3,196	$ 0	3,196	0	0
Shares withheld for employee taxes on equity awards	(888)	$ 0	(888)	0	0
Shares withheld for employee taxes on equity awards, shares		(39,868)
Foreign currency translation adjustment	39	$ 0	0	39	0
Declared dividends	(19,786)	0	0	0	(19,786)
Pension liability, net of tax	333	0	0	333	0
Ending balance at Dec. 31, 2021	209,325	$ 22,172	306,720	(15,401)	(104,166)
Ending balance, shares at Dec. 31, 2021		36,262,259
Stockholders' Equity [Roll Forward]
Net Income (Loss)	60,267	$ 0	0	0	60,267
Beginning balance at Dec. 31, 2021	209,325	22,172	306,720	(15,401)	(104,166)
Stockholders' Equity [Roll Forward]
Issuances under option plans	$ 2,235	$ 78	2,157	0	0
Issuances under option plans, shares	83,102	127,881
Dividend reinvestment plan	$ 85	$ 3	82	0	0
Dividend reinvestment plan, shares		4,218
Restricted stock vested	0	$ 79	(79)	0	0
Restricted stock vested, shares		130,386
Stock compensation expense	7,436	$ 0	7,436	0	0
Shares withheld for employee taxes on equity awards	(451)	$ 0	(451)	0	0
Shares withheld for employee taxes on equity awards, shares		(24,724)
Foreign currency translation adjustment	(2,475)	$ 0	0	(2,475)	0
Declared dividends	(20,078)	0	0	0	(20,078)
Pension liability, net of tax	83	0	0	83	0
Ending balance at Dec. 31, 2022	$ 256,427	$ 22,332	315,865	(17,793)	(63,977)
Ending balance, shares at Dec. 31, 2022	36,500,020	36,500,020
Stockholders' Equity [Roll Forward]
Net Income (Loss)	$ 48,867	$ 0	0	0	48,867
Beginning balance at Dec. 31, 2022	256,427	22,332	315,865	(17,793)	(63,977)
Stockholders' Equity [Roll Forward]
Issuances under option plans	$ 2,253	$ 83	2,170	0	0
Issuances under option plans, shares	62,551	136,028
Dividend reinvestment plan	$ 85	$ 3	82	0	0
Dividend reinvestment plan, shares		4,241
Restricted stock vested	0	$ 190	(190)	0	0
Restricted stock vested, shares		312,056
Stock compensation expense	6,671	$ 0	6,671	0	0
Shares withheld for employee taxes on equity awards	(2,072)	$ 0	(2,072)	0	0
Shares withheld for employee taxes on equity awards, shares		(103,880)
Foreign currency translation adjustment	859	$ 0	0	859	0
Declared dividends	(20,409)	0	0	0	(20,409)
Pension liability, net of tax	119	0	0	119	0
Ending balance at Dec. 31, 2023	$ 292,800	$ 22,608	$ 322,526	$ (16,815)	$ (35,519)
Ending balance, shares at Dec. 31, 2023	36,848,465	36,848,465

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends declared per share	$ 0.54	$ 0.54	$ 0.54
Tax expense on pension liability	$ 40	$ 28	$ 111
Retained Deficit [Member]
Dividends declared per share	$ 0.54	$ 0.54	$ 0.54
Accumulated Other Comprehensive Income (Loss) [Member]
Tax expense on pension liability	$ 40	$ 28	$ 111

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities
Net income	$ 48,867	$ 60,267	$ 33,538
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Depreciation and amortization	22,786	21,216	20,422
Amortization of deferred financing costs	313	441	463
Non-cash stock-based compensation expense	6,671	7,436	3,196
(Gain) loss on disposal of fixed assets	(195)	(667)	(1,382)
Deferred taxes	1,039	2,072	2,826
Other	944	1,520	(1,403)
Cash flows provided by (used for) working capital
Accounts receivable - trade and other, net	2,656	(23,625)	(15,273)
Inventories	2,630	7,955	(24,885)
Prepaid expenses and other current assets	151	(1,409)	(676)
Accounts payable and accrued expenses	310	(2,585)	28,088
Net cash provided by (used for) operating activities	86,172	72,621	44,914
Cash Flows From Investing Activities
Capital expenditures	(22,855)	(24,292)	(17,867)
Acquisition of business, net of cash acquired	(160)	(27,626)	(35,758)
Proceeds from sale of property, plant and equipment	258	1,537	3,336
Net cash provided by (used for) investing activities	(22,757)	(50,381)	(50,289)
Cash Flows From Financing Activities
Borrowings on revolving credit facility	740,000	1,264,200	886,600
Repayments on revolving credit facility	(776,000)	(1,261,200)	(833,600)
Repayments of long-term debt	0	0	(40,000)
Payments on finance lease	(542)	(500)	(402)
Cash dividends paid	(20,240)	(19,797)	(19,596)
Proceeds from issuance of common stock	2,338	2,320	3,793
Shares withheld for employee taxes on equity awards	(2,072)	(451)	(888)
Deferred financing fees	0	(889)	(1,095)
Net cash provided by (used for) financing activities	(56,516)	(16,317)	(5,188)
Foreign exchange rate effect on cash	252	(439)	(83)
Net increase (decrease) in cash	7,151	5,484	(10,646)
Cash at January 1	23,139	17,655	28,301
Cash at December 31	30,290	23,139	17,655
Supplemental Disclosures of Cash Flow Information
Interest	5,980	4,574	4,279
Income taxes	$ 13,451	$ 13,023	$ 10,936

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 48,867	$ 60,267	$ 33,538

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
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

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. All subsidiaries that are not wholly owned and are not included in the consolidated operating results of the Company are immaterial investments which have been accounted for under the equity or cost method. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the timing and amount of assets, liabilities, equity, revenues, and expenses recorded and disclosed. Actual results could differ from those estimates. Accounting Standards Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This ASU is intended to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity's operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For the Company, this ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU should be applied prospectively although retrospective application is also permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . This ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For the Company, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU are required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. Translation of Foreign Currencies All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting foreign currency translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders’ equity. Fair Value Measurement Fair value is the price to hypothetically sell an asset or transfer a liability in an orderly manner in the principal market for that asset or liability. Accounting standards prioritize the use of observable inputs in measuring fair value. The level of a fair value measurement is determined entirely by the lowest level input that is significant to the measurement. The three levels are (from highest to lowest): Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly. Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions. The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximates carrying value due to the nature and relative short maturity of these assets and liabilities. The fair value of debt under the Company’s Loan Agreement, as defined in Note 10, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements, which are considered Level 2 inputs. At December 31, 2023 and 2022, the aggregate fair value of the Company’s outstanding fixed rate senior unsecured notes was estimated at $ 37.8 million and $ 37.4 million, respectively. The purchase price allocations associated with the May 31, 2022 acquisition of Mohawk Rubber Sales of New England Inc. ("Mohawk"), as described in Note 3, required fair value measurements using unobservable inputs which are considered Level 3 inputs. The fair value of the acquired intangible assets was determined using an income approach. Similarly, impairment testing of goodwill and indefinite-lived intangible assets as described in Note 4 involves determination of fair value using unobservable inputs, which are considered Level 3 inputs. The fair values of the reporting units in accordance with the goodwill impairment test were determined using the income and/or market approaches. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of trade accounts receivable. The concentration of accounts receivable credit risk is generally limited based on the Company’s diversified operations, with customers spread across many industries and countries. In 2023 , there were no customers that accounted for more than ten percent of net sales. The Company does not have a material concentration of sales in any country outside of the United States. Allowance for Credit Losses Management has established certain requirements that customers must meet before credit is extended. The financial condition of customers is continually monitored and collateral is usually not required. The Company evaluates the collectability of accounts receivable based on a combination of factors. The Company reviews historical trends for credit loss as well as current economic conditions in determining an estimate for its allowance for credit losses. Additionally, in circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific allowance for credit losses is recorded against amounts due to reduce the net recognized receivable to the amount the Company reasonably expects will be collected. Expense related to bad debts was approximately $ 1.8 million, $ 0.5 million and $ 0.7 million for 2023, 2022 and 2021, respectively, and is recorded within Selling, general and administrative expenses in the Consolidated Statements of Operations. Deductions from the allowance for doubtful accounts, net of recoveries, were approximately $ 1.1 million, $ 0.4 million and $ 0.9 million for 2023, 2022 and 2021, respectively. Changes in the allowance for credit losses for the years ended December 31, 2023 and 2022 were as follows: 2023 2022 Balance at January 1 $ 2,273 $ 2,173 Provision for expected credit loss, net of recoveries 1,808 540 Write-offs and other ( 1,092 ) ( 440 ) Balance at December 31 $ 2,989 $ 2,273 Inventories Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 35 percent of our inventories are valued using the LIFO method of determining cost. All other inventories are valued at the FIFO method of determining cost. Inventories at December 31 consist of the following: December 31, December 31, 2023 2022 Finished and in-process products $ 53,382 $ 54,991 Raw materials and supplies 37,462 38,360 $ 90,844 $ 93,351 If the FIFO method of inventory cost valuation had been used exclusively by the Company, inventories would have been $ 8.6 million and $ 8.6 million higher than reported at December 31, 2023 and 2022, respectively. Cost of sales decreased by $ 0.2 million, $ 0.8 million and $ 0.1 million in 2023, 2022 and 2021 , respectively, as a result of the liquidation of LIFO inventories. Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation and amortization. The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows: Buildings 20 to 40 years Machinery and equipment 3 to 10 years Leasehold improvements 5 to 10 years The Company’s property, plant and equipment by major asset class at December 31 consists of: December 31, December 31, 2023 2022 Land $ 6,546 $ 6,907 Buildings and leasehold improvements 63,871 60,982 Machinery and equipment 326,650 311,822 397,067 379,711 Less allowances for depreciation and amortization ( 289,134 ) ( 278,145 ) $ 107,933 $ 101,566 Depreciation expense was $ 16.2 million , $ 15.0 million and $ 15.2 million in the years ended December 31, 2023, 2022 and 2021 , respectively. Long-Lived Assets The Company reviews its long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Determination of potential impairment related to assets to be held and used is based upon undiscounted future cash flows resulting from the use and ultimate disposition of the asset and related asset group. For assets held for sale, the amount of potential impairment may be based upon appraisal of the asset, estimated market value of similar assets or estimated cash flow from the disposition of the asset. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) were as follows: Foreign Defined Benefit Total Balance at January 1, 2021 $ ( 13,974 ) $ ( 1,799 ) $ ( 15,773 ) Other comprehensive income (loss) before reclassifications 39 269 308 Amounts reclassified from accumulated other comprehensive income, net 21 ) (1) — 64 64 Net current-period other comprehensive income (loss) 39 333 372 Balance at December 31, 2021 ( 13,935 ) ( 1,466 ) ( 15,401 ) Other comprehensive income (loss) before reclassifications ( 2,475 ) 33 ( 2,442 ) Amounts reclassified from accumulated other comprehensive income, net 17 ) (1) — 50 50 Net current-period other comprehensive income (loss) ( 2,475 ) 83 ( 2,392 ) Balance at December 31, 2022 ( 16,410 ) ( 1,383 ) ( 17,793 ) Other comprehensive income (loss) before reclassifications 859 66 925 Amounts reclassified from accumulated other comprehensive income, net 18 ) (1) — 53 53 Net current-period other comprehensive income (loss) 859 119 978 Balance at December 31, 2023 $ ( 15,551 ) $ ( 1,264 ) $ ( 16,815 ) (1) The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 12, Retirement Plans for additional details. Stock Based Compensation The Company has stock incentive plans that provide for the granting of stock-based compensation to employees and directors. Shares issued for option exercises, restricted stock units and performance units may be either from authorized, but unissued shares or treasury shares. For equity-classified awards, the fair value is determined on the date of the grant and not remeasured. The fair value of restricted stock units without a relative Total Shareholder Return ("rTSR") modifier are determined using the closing price of the Company’s common stock on the grant date (Level 1 measurement). The fair value of performance units with a rTSR modifier is determined using a Monte Carlo simulation, which determines the probability of satisfying the market condition included in the award using market-based inputs (Level 2 measurement). For these awards, the performance-based vesting requirements determine the number of shares that ultimately vest, which can vary from 0 % to 250 % of target depending on the level of achievement of established performance and market criteria, where applicable. The fair value of options is determined using a binomial lattice option pricing model which uses market-based inputs (Level 2 measurement). When awards contain a required holding period after vesting, the fair value is discounted to reflect the lack of marketability. Expense for restricted stock units and stock options is recognized on a straight-line basis over the requisite service period, which is generally equivalent to the vesting term. Compensation expense for performance units is recognized over the requisite service period subject to adjustment based on the probable number of shares expected to vest under the performance condition. Forfeitures result in reversal of previously recognized expenses for unvested shares and are recognized in the period in which the forfeiture occurs. Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to be received or settled. Any effect on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period the change is enacted. Deferred tax assets are reduced by a valuation allowance, if based on all available evidence, it is more likely than not that the deferred tax asset will not be realized. The Company evaluates the recovery of its deferred tax assets by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income inherently rely heavily on estimates. In the ordinary course of business, there is inherent uncertainty in quantifying certain income tax positions. The Company evaluates uncertain tax positions for all years subject to examination based upon management’s evaluations of the facts, circumstances and information available at the reporting date. Income tax positions must meet a more-likely-than-not recognition threshold at the reporting date to be recognized. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. Capital expenditures in the Consolidated Statement of Cash Flows excludes accrued, but unpaid, capital expenditures. Changes in the amount accrued increased (reduced) cash used for capital expenditures by $ 0.7 million, $( 0.6 ) million and $( 0.2 ) million 2023, 2022 and 2021, respectively. Investments In 2013, the Company invested in a joint venture to distribute tools, supplies and equipment to the Indian auto aftermarket. The Company's minority ownership interest has been accounted for under ASC 321, Investments - Equity Securities, as the Company cannot exercise significant influence over operating and financial policies of the joint venture. Under ASC 321, for each reporting period, a qualitative assessment is completed to evaluate whether the investment is impaired. During the fourth quarter of 2022, impairment triggers were identified and the investment in the joint venture was fully impaired, resulting in a $ 0.6 million pre-tax impairment loss in Other (income) expenses in the Consolidated Statement of Operations .

Revenue Recognition

Revenue Recognition	12 Months Ended
Revenue Recognition	Dec. 31, 2023
Revenue Recognition [Abstract]
Revenue Recognition	2. Revenue Recognition The Company’s revenue by major market is as follows: For the Year Ended December 31, 2023 Material Distribution Inter-company Consolidated Consumer $ 92,380 $ — $ — $ 92,380 Vehicle 123,155 — — 123,155 Food and beverage 118,063 — — 118,063 Industrial 221,661 — ( 67 ) 221,594 Auto aftermarket — 257,875 — 257,875 Total net sales $ 555,259 $ 257,875 $ ( 67 ) $ 813,067 For the Year Ended December 31, 2022 Material Distribution Inter-company Consolidated Consumer $ 113,339 $ — $ — $ 113,339 Vehicle 165,139 — — 165,139 Food and beverage 125,111 — — 125,111 Industrial 244,030 — ( 38 ) 243,992 Auto aftermarket — 251,966 — 251,966 Total net sales $ 647,619 $ 251,966 $ ( 38 ) $ 899,547 For the Year Ended December 31, 2021 Material Distribution Inter-company Consolidated Consumer $ 116,707 $ — $ — $ 116,707 Vehicle 170,322 — — 170,322 Food and beverage 83,817 — — 83,817 Industrial 193,222 — ( 60 ) 193,162 Auto aftermarket — 197,427 — 197,427 Total net sales $ 564,068 $ 197,427 $ ( 60 ) $ 761,435 Revenue is recognized when obligations under the terms of a contract with customers are satisfied. In both the Distribution and Material Handling segments, this generally occurs with the transfer of control of the Company’s products. This transfer of control may occur at either the time of shipment from a Company facility, or at the time of delivery to a designated customer location. Obligations under contracts with customers are typically fulfilled within 90 days of receiving a purchase order from a customer, and generally no other future obligations are required to be performed. The Company generally does not enter into contracts with customers for longer than one year. Based on the nature of the Company’s products and customer contracts, no deferred revenue has been recorded with the exception of cash advances or deposits received from customers prior to transfer of control of the product. These advances are typically fulfilled within the 90 day time frame mentioned above. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the products. Certain contracts with customers include variable consideration, such as rebates or discounts. The Company recognizes estimates of this variable consideration each period, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs. While the Company’s contracts with customers do not generally include explicit rights to return product, the Company will in practice allow returns in the normal course of business and as part of the customer relationship. Thus, the Company estimates the expected returns each period based on an analysis of historical experience. For certain businesses where physical recovery of the product from returns occurs, the Company records an estimated right to return asset from such recovery, based on the approximate cost of the product. Amounts included in the Consolidated Statements of Financial Position related to revenue recognition include: December 31, December 31, Statement of Financial 2023 2022 Classification Returns, discounts and other allowances $ ( 1,200 ) $ ( 986 ) Trade accounts receivable Right of return asset $ 432 $ 350 Inventories, net Customer deposits $ ( 2,017 ) $ ( 5,896 ) Other current liabilities Accrued rebates $ ( 4,441 ) $ ( 4,711 ) Other current liabilities Sales, value added, and other taxes the Company collects concurrently with revenue from customers are excluded from net sales. The Company has elected to recognize the cost for shipments to customers when control over products has transferred to the customer. Costs for shipments to customers are classified as Selling, general and administrative expenses for the Company’s manufacturing businesses and as Cost of sales for the Company’s distribution business in the accompanying Consolidated Statements of Operations. The Company incurred costs for shipments to customers of approximately $ 10.8 million , $ 13.1 million and $ 10.4 million in Selling, general and administrative expenses for the years ended December 31, 2023, 2022 and 2021, respectively, and $ 13.0 million , $ 10.5 million and $ 7.3 million in Cost of sales for the years ended December 31, 2023, 2022 and 2021, respectively. Based on the short term nature of contracts described above, the Company does not incur significant contract acquisition costs. These costs, as well as other incidental items that are immaterial in the context of the contract, are recognized as expense as incurred.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2023
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Mohawk On May 31, 2022, the Company acquired the assets of Mohawk, a leading auto aftermarket distributor, which is included in the Distribution Segment. The Mohawk acquisition aligns with the Company's long-term objective to optimize and grow its Distribution business. Cash consideration was $ 27.8 million, net of $ 1.1 million of cash acquired. Total cash consideration also includes a $ 3.5 million working capital adjustment, of which $ 3.3 million was settled in November 2022 and $ 0.2 million was settled in February 2023. The Company funded the acquisition with proceeds from the Loan Agreement described in Note 10. The acquisition of Mohawk was accounted for using the acquisition method, whereby all of the assets acquired and liabilities assumed were recognized at their fair value on the acquisition date, with any excess of the purchase price over the estimated fair value recorded as goodwill. The following table summarizes the allocation of the purchase price based on the estimated fair value of assets acquired and liabilities assumed, including measurement period adjustments and the finalized allocation of purchase price. Initial Allocation of Consideration Measurement Period Adjustments (1) Final Allocation Assets acquired: Accounts receivable $ 10,137 $ 458 $ 10,595 Inventories 8,209 ( 16 ) 8,193 Prepaid expenses 104 — 104 Other assets - long term 30 — 30 Property, plant and equipment 1,432 ( 261 ) 1,171 Right of use asset - operating leases 1,367 — 1,367 Intangible assets 7,720 90 7,810 Goodwill 7,485 ( 403 ) 7,082 Assets acquired $ 36,484 $ ( 132 ) $ 36,352 Liabilities assumed: Accounts payable $ 5,996 $ ( 191 ) $ 5,805 Accrued expenses 1,414 ( 70 ) 1,344 Operating lease liability - short term 399 — 399 Operating lease liability - long term 968 — 968 Total liabilities assumed 8,777 ( 261 ) 8,516 Net acquisition cost $ 27,707 $ 129 $ 27,836 (1) The Company's preliminary purchase price allocation changed due to additional information and further analysis. The goodwill represents the future economic benefits arising from other assets acquired that could not be individually and separately recognized, and the Company expects that the goodwill recognized for the acquisition will be deductible for tax purposes. The intangible assets included above consist of the following: Fair Value Weighted Average Customer relationships $ 5,500 12. 0 years Trade name 2,000 5.0 years Non-competition agreements 310 5.0 years Total amortizable intangible assets $ 7,810 Trilogy Plastics On July 30, 2021, the Company acquired the assets of Trilogy, a custom rotational molder specializing in high quality parts and assemblies, which is included in the Company's Material Handling Segment. The Trilogy acquisition aligns with the Company’s long-term strategic plan to transform the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. The purchase price for the acquisition was $ 34.5 million, including a working capital adjustment of $ 0.3 million which was settled in November 2021. The Company funded the acquisition with proceeds from the Loan Agreement described in Note 10. Elkhart Plastics On November 10, 2020, the Company acquired the assets of Elkhart Plastics, a manufacturer of engineered products for the RV, marine, agricultural, construction, truck and other industries, which is included in the Company’s Material Handling Segment. The Elkhart Plastics acquisition aligns with the Company’s long-term strategic plan to transform the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. The purchase price for the acquisition was $ 63.8 million, including a working capital adjustment of $ 1.2 million, which was settled in 2021. The Company funded the acquisition using available cash.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	4. Goodwill and Intangible Assets The Company tests goodwill and indefinite-lived intangible assets for impairment annually and between annual tests if impairment indicators are present. Such indicators may include, but are not limited to, significant changes in economic and competitive conditions, the impact of the economic environment on the Company’s customer base or its businesses, or a material negative change in its relationships with significant customers. The Company’s annual goodwill impairment assessment as of October 1 for all of its reporting units found no impairment in 2023, 2022 or 2021. During 2023, management performed a qualitative assessment for five of its six reporting units, with the exception of the Rotational Molding reporting unit for which a quantitative assessment was performed. Based on the five qualitative analyses, we determined that it was more-likely-than-not that the fair values of the reporting units were greater than their carrying amounts and no impairment was indicated. Based on the quantitative analysis of the Rotational Molding reporting unit, the estimated fair value of the reporting unit was in excess of its carrying value and no impairment was identified. The fair value of the Company's Rotational Molding reporting unit in accordance with the goodwill impairment test was determined using the income and/or market approaches. The income approach employs the discounted cash flow method reflecting projected cash flows expected to be generated by market participants and then adjusted for time value of money factors and requires management to make significant estimates and assumptions related to forecasts of future revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), and discount rates. The market approach utilizes an analysis of comparable publicly traded companies and requires management to make significant estimates and assumptions related to the forecasts of future revenues, EBITDA, and multiples that are applied to management’s forecasted revenues and EBITDA estimates. The techniques used in the Company's impairment test have incorporated a number of assumptions that the Company believes to be reasonable and to reflect known market conditions at the measurement date. The variables and assumptions used, all of which are Level 3 fair value inputs, include the projections of future revenues and expenses, working capital, terminal values, discount rates and long term growth rates. The estimate of the fair values of these reporting units, and the related goodwill, could change over time based on a variety of factors, including the aggregate market value of the Company’s common stock, actual operating performance of the underlying businesses or the impact of future events on the cost of capital and the related discount rates used. The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 were as follows: Distribution Material Total January 1, 2022 $ 7,648 $ 81,130 $ 88,778 Acquisition 7,485 — 7,485 Purchase accounting adjustment ( 403 ) — ( 403 ) Foreign currency translation — ( 703 ) ( 703 ) December 31, 2022 $ 14,730 $ 80,427 $ 95,157 Foreign currency translation — 235 235 December 31, 2023 $ 14,730 $ 80,662 $ 95,392 Intangible assets were established in connection with acquisitions. These intangible assets, other than goodwill and certain indefinite lived trade names, are amortized over their estimated useful lives. The Company performed a quantitative annual impairment assessment for the indefinite lived trade names as of October 1, 2023, 2022 and 2021. In performing these assessments, the Company determined the estimated fair value of the trade name exceeded the carrying value and accordingly, no impairment was indicated. An impairment charge would be recorded if the carrying value of the trade name exceeds the estimated fair value at the date of assessment. Refer to Note 3 for the intangible assets acquired through the Mohawk acquisition during 2022. Intangible assets at December 31, 2023 and 2022 consisted of the following: 2023 2022 Weighted Average Gross Accumulated Net Gross Accumulated Net Trade names - indefinite lived $ 9,782 $ — $ 9,782 $ 9,782 $ — $ 9,782 Trade names 6.0 10,267 ( 3,417 ) 6,850 10,267 ( 2,142 ) 8,125 Customer relationships 12.0 75,505 ( 48,790 ) 26,715 75,110 ( 45,621 ) 29,489 Technology 0.6 24,980 ( 23,713 ) 1,267 24,980 ( 21,441 ) 3,539 Non-competition agreements 1.7 1,510 ( 995 ) 515 1,510 ( 693 ) 817 Patents — 11,730 ( 11,730 ) — 11,730 ( 11,730 ) — $ 133,774 $ ( 88,645 ) $ 45,129 $ 133,379 $ ( 81,627 ) $ 51,752 Intangible amortization expense was $ 6.6 million , $ 6.2 million and $ 5.2 million in 2023, 2022 and 2021, respectively. Estimated annual amortization expense for intangible assets with finite lives for the next five years is: $ 5.4 million in 2024; $ 3.9 million in 2025; $ 3.2 million in 2026; $ 2.9 million in 2027 and $ 2.7 million in 2028.

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
Net Income Per Common Share	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Common Share	5. Net Income Per Common Share Net income per common share , as shown on the accompanying Consolidated Statements of Operations, is determined on the basis of the weighted average number of common shares outstanding during the periods as follows: For the Year Ended December 31, 2023 2022 2021 Weighted average common shares outstanding basic 36,744,560 36,411,389 36,138,571 Dilutive effect of stock options and restricted stock 351,008 379,450 220,398 Weighted average common shares outstanding diluted 37,095,568 36,790,839 36,358,969 The dilutive effect of stock options and restricted stock was computed using the treasury stock method. Options to purchase 101,406 , 114,540 and 26,814 shares of common stock that were outstanding at December 31, 2023, 2022 and 2021 , respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options was greater than the average market price of common shares and were therefore anti-dilutive.

Restructuring

Restructuring	12 Months Ended
Restructuring	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	6. Restructuring Ameri-Kart Plan In March 2019, the Company committed to implementing a restructuring plan involving its Ameri-Kart Corp. subsidiary (“Ameri-Kart”), a rotational molding business within the Material Handling Segment. The Company is consolidating certain manufacturing operations into a new facility in Bristol, Indiana (the “Ameri-Kart Plan”). In December 2019, as amended in March 2021, Ameri-Kart entered into a lease agreement for a newly constructed manufacturing and distribution facility in Bristol, Indiana. The building became substantially complete in March 2021 as defined in the lease agreement, and the 15-year finance lease of the new Bristol facility commenced. In connection with the lease agreement, Ameri-Kart agreed to sell its original Bristol facility and lease it back for a period of 5 years. During the second quarter of 2021, the sale of the original facility for net proceeds of $ 2.8 million was completed, which resulted in a gain of $ 1.0 million, and the lease back commenced. The new Bristol facility is in service and the original facility has been closed. Remaining costs to complete this consolidation are expected to be approximately $ 2.2 million to be incurred through 2026 related to remaining lease and maintenance costs for the idled facility. The Company incurre d $ 1.0 million of r estructuring charges during the year ended December 31, 2023, which were recorded within both Cost of sales and Selling, general and administrative. The Company also incurre d $ 0.7 million of r estructuring charges during the year ended December 31, 2022, which were recorded within Cost of sales and $ 0.3 million related to loss on disposal of fixed assets during the year ended December 31, 2022 . No restructuring charges were accrued at December 31, 2023 and December 31, 2022 . The Company incurred $ 0.9 million of restructuring charges classified as Cost of sales during the year ended December 31, 2021, including $ 0.1 million of non-cash inventory write-offs. Other Initiatives Severance charges from other restructuring initiatives to reduce and streamline overhead costs during the year ended December 31, 2023 totaled $ 1.5 million, which were recorded within Selling, general and administrative. No restructuring charges were accrued at December 31, 2023 and remaining costs associated with these other restructuring initiatives are not expected to be meaningful.

Other Liabilities

Other Liabilities	12 Months Ended
Other Liabilities	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities	7. Other Liabilities The balance of Other current liabilities is comprised of the following: December 31, December 31, 2023 2022 Customer deposits and accrued rebates $ 6,458 $ 10,607 Dividends payable 5,900 5,722 Accrued litigation, claims and professional fees 2,868 596 Current portion of environmental reserves 8,205 3,284 Other accrued expenses 5,041 6,171 $ 28,472 $ 26,380 The balance of Other liabilities (long-term) is comprised of the following: December 31, December 31, 2023 2022 Environmental reserves $ 9,357 $ 13,078 Supplemental executive retirement plan liability 548 824 Pension liability 135 184 Other long-term liabilities 2,068 1,184 $ 12,108 $ 15,270

Stock Compensation

Stock Compensation	12 Months Ended
Stock Compensation	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Compensation	8. Stock Compensation The Company’s Amended and Restated 2017 Incentive Stock Plan (the “2017 Plan”) authorizes the Compensation and Management Development Committee of the Board of Directors (“Compensation Committee”) to issue up to 5,126,950 shares of various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. No new awards were permitted to be issued under the 2017 Plan after April 29, 2021. Options granted and outstanding vest over the requisite service period and expire ten years from the date of grant . The Company’s 2021 Long-Term Incentive Plan (the “2021 Plan”) was adopted by the Board of Directors on March 4, 2021, amended by the Board of Directors on April 20, 2021, and approved by shareholders in the annual shareholder meeting on April 29, 2021. The 2021 Plan authorizes the Compensation Committee to issue up to 2,000,000 additional various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards . Stock compensation expense was approximately $ 6.7 million , $ 7.4 million and $ 3.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, and are included in Selling, general and administrative expenses . Total unrecognized compensation cost related to non-vested share-based compensation arrangements at December 31, 2023 was approximately $ 7.4 million , which will be recognized over the next three years , as such compensation is earned. There were no options granted in 2023, 2022 and 2021. Options exercised in 2023, 2022 and 2021 were as follows: Year Options Exercised Exercised 2023 62,551 $ 11.62 to $ 18.69 2022 83,102 $ 12.96 to $ 21.30 2021 192,504 $ 11.62 to $ 21.30 In addition, options totaling 43,729 , 588 and 30,094 expired or were forfeited during the years ended December 31, 2023, 2022 and 2021, respectively. Options outstanding and exercisable at December 31, 2023, 2022 and 2021 were as follows: Year Outstanding Range of Exercise Exercisable Weighted Average 2023 118,602 $ 11.62 to $ 21.30 118,602 $ 20.35 2022 224,882 $ 11.62 to $ 21.30 224,882 $ 18.82 2021 308,572 $ 11.62 to $ 21.30 297,295 $ 18.64 The following table provides a summary of stock option activity for the period ended December 31, 2023: Shares Average Weighted Outstanding at December 31, 2022 224,882 $ 18.82 Options granted — — Options exercised ( 62,551 ) 16.99 Canceled or forfeited ( 43,729 ) 17.30 Expired — — Outstanding at December 31, 2023 118,602 20.35 1.03 Exercisable at December 31, 2023 118,602 $ 20.35 1.03 The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The intrinsic value of stock options exercised in 2023, 2022 and 2021 was $ 0.4 million , $ 0.3 million and $ 1.0 million , respectively. There is no intrinsic value of stock options outstanding at December 31, 2023 as the closing stock price at the end of 2023 was below the weighted average exercise price of stock options outstanding at December 31, 2023. The following table provides a summary of restricted stock units, including performance-based restricted stock units, and restricted stock activity for the year ended December 31, 2023: Shares Average Unvested shares at December 31, 2022 705,734 Granted 503,327 $ 19.79 Vested ( 293,153 ) $ 14.57 Canceled or forfeited ( 70,197 ) $ 19.93 Unvested shares at December 31, 2023 845,711 Restricted stock units are rights to receive shares of common stock, subject to forfeiture and other restrictions, which vest over a one or three year period. Restricted stock units are considered to be non-vested shares under the accounting guidance for share-based payment and are not reflected as issued and outstanding shares until the restrictions lapse. At that time, the shares are released to the grantee and the Company records the issuance of the shares. At December 31, 2023, restricted stock awards had vesting periods through December 2026. Included in the December 31, 2023 unvested shares are 504,871 performance-based restricted stock units.

Contingencies

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	9. Contingencies The Company is a defendant in various lawsuits and a party to various other legal proceedings arising in the ordinary course of business, some of which are covered in whole or in part by insurance. When a loss arising from these matters is probable and can reasonably be estimated, the most likely amount of the estimated probable loss is recorded, or if a range of probable loss can be estimated and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Based on current available information, management believes that the ultimate outcome of these matters, including those described below, will not have a material adverse effect on our financial position, cash flows or overall trends in our results of operations. However, these matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which the ruling occurs, or in future periods. New Idria Mercury Mine In September 2015, the U.S. Environmental Protection Agency (“EPA”) informed a subsidiary of the Company, Buckhorn, Inc. (“Buckhorn”) via a notice letter and related documents (the “Notice Letter”) that it considers Buckhorn to be a potentially responsible party (“PRP”) in connection with the New Idria Mercury Mine site (“New Idria Mine”). New Idria Mining & Chemical Company (“NIMCC”), which owned and/or operated the New Idria Mine through 1976, was merged into Buckhorn Metal Products Inc. in 1981, which was subsequently acquired by Myers Industries, Inc. in 1987. As a result of the EPA Notice Letter, Buckhorn and the Company engaged in negotiations with the EPA with respect to a draft Administrative Order of Consent (“AOC”) proposed by the EPA for the Remedial Investigation/Feasibility Study (“RI/FS”) to determine the extent of remediation necessary and the screening of alternatives. Buckhorn and the EPA finalized the AOC and related Statement of Work (“SOW”) with regards to the New Idria Mine, effective as of November 27, 2018, the date that it was executed by the EPA. The AOC requires a $ 2 million letter of credit to be provided for the duration of the RI/FS as assurance of Buckhorn's performance obligations. All reasonably estimable costs related to the environmental remediation are accrued. These costs are comprised primarily of estimates to perform the RI/FS, negotiation of the AOC, identification of possible other PRPs, EPA oversight fees, past cost claims made by the EPA, periodic monitoring, and responses to demands issued by the EPA under the AOC. It is possible that adjustments to the aforementioned reserves will be necessary as new information is obtained, including after finalization and EPA approval of the work plan for the RI/FS. Estimates of Buckhorn’s liability are based on current facts, laws, regulations and technology. Estimates of Buckhorn’s environmental liabilities are further subject to uncertainties regarding the nature and extent of site contamination, the range of remediation alternatives available, evolving remediation standards, imprecise engineering evaluation and cost estimates, the extent of remedial actions that may be required, the extent of oversight by the EPA and the number and financial condition of other PRPs that may be named, as well as the extent of their responsibility for the remediation. Beginning in late 2021 and continuing through the current period, Buckhorn and the EPA continue to actively discuss the scope of the activities in the work plan for the RI/FS, resulting in changes to the estimated costs to perform the RI/FS work plan from time to time. Cost estimates will continue to be refined as the work plans for the RI/FS and the ultimate remediation are finalized and as the activities are performed over a period expected to last several years. In the fourth quarter of 2022, Buckhorn reached an agreement with respect to certain insurance coverage related to defense costs, which is expected to apply to a substantial portion of the estimated RI/FS costs. Recovery of accrued costs are recorded as a receivable to the extent such recovery is determined to be probable under this agreement. Estimates of cost recoveries will continue to be refined as the RI/FS work plan is finalized and the activities are performed over a period expected to last several years. Buckhorn may also have opportunity for cost recovery under other insurance policies. Since October 2011, when the New Idria Mine was added to the Superfund National Priorities List by the EPA, Buckhorn has recognized $ 22.0 million of cumulative charges, made cumulative payments of $ 10.8 million and received insurance recoveries of $ 4.0 million through December 31, 2023. For the years ended December 31, 2023, 2022 and 2021, the following activity was recorded in connection with the New Idria Mercury Mine: For the Year Ended December 31, 2023 2022 2021 Beginning reserve balance $ 11,855 $ 8,213 $ 7,186 Changes in estimated environmental liability 6,500 4,400 700 Payments made (1) (4) ( 5,173 ) ( 758 ) 327 Ending reserve balance (2) $ 13,182 $ 11,855 $ 8,213 Beginning receivable balance $ 6,000 $ — $ — Changes in estimated insurance recovery 3,300 6,000 — Insurance recovery reimbursements ( 2,055 ) — — Ending receivable balance (3) $ 7,245 $ 6,000 $ — (1) Payments made in the years ended December 31, 2022 and December 31, 2021 were offset by insurance refunds of $ 0.8 million and $ 0.7 million, respectively. In the fourth quarter of 2022, Buckhorn reached an agreement with respect to certain insurance coverage related to defense costs for which recovery of accrued costs are recorded as a receivable to the extent such recovery is determined to be probable under this agreement. (2) As of December 31, 2023 , Buckhorn has a total ending reserve balance of $ 13.2 million related to the New Idria Mine, of which $ 7.9 million is classified in Other current liabilities and $ 5.3 million in Other liabilities (long-term). (3) As of December 31, 2023 , Buckhorn has a total receivable balance related to the probable insurance recovery of $ 7.2 million, of which $ 3.6 million is classified in Other accounts receivable and $ 3.6 million is classified in Other (long-term). (4) Payments made for the year ended December 31, 2023 include a $ 1.9 million payment related to a settlement agreement with the EPA to resolve the past costs claim, which Buckhorn paid in the first quarter of 2023. Given the circumstances referred to above, including the fact that the final remediation strategy has not yet been determined, Buckhorn has not accrued for remediation costs in connection with this site as it is unable to estimate the range of a reasonably possible liability for remediation costs. New Almaden Mine A number of parties, including the Company and its subsidiary, Buckhorn (as successor to NIMCC), were alleged by trustee agencies of the United States and the State of California to be responsible for natural resource damages due to environmental contamination of areas comprising the historical New Almaden mercury mines located in the Guadalupe River Watershed region in Santa Clara County, California (“County”). In 2005, Buckhorn and the Company, without admitting liability or chain of ownership of NIMCC, resolved the trustees’ claim against them through a consent decree that required them to contribute financially to the implementation by the County of an environmentally beneficial project within the impacted area. Buckhorn and the Company negotiated an agreement with the County ("Cost Sharing Agreement"), whereby Buckhorn and the Company agreed to reimburse one-half of the County’s costs of implementing the project. A detailed estimate was received from the County in 2016, and estimated costs for implementing the project to range between $ 3.3 million and $ 4.4 million. In 2022, the County informed the Company that it may begin implementation of the project in 2023 and that costs were expected to be higher. In January 2023, the County informed Buckhorn that the project will commence in 2023 and that it had accepted a bid to complete the project for approximately $ 9.0 million. The Company and Buckhorn intend to vigorously challenge, under the terms of the Cost Sharing Agreement, their responsibility to share in the entirety of the project cost increases. In the year ended December 31, 2022 , expense of $ 3.0 million was recorded in Selling, general and administrative expenses based on the updated information received from the County. No additional costs were incurred related to New Almaden in the year ended December 31, 2023 and payments of $ 0.1 million were made for the year ended December 31, 2023. No costs were incurred related to New Almaden in the year ended December 31, 2021 . As of December 31, 2023 , Buckhorn has a total reserve of $ 4.4 million related to the New Almaden Mine, of which $ 0.3 million is classified in Other current liabilities and $ 4.1 million is classified in Other liabilities (long-term) on the Consolidated Statements of Financial Position. As work on the project occurs and dispute resolution proceeds, it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. In addition, the Company may have claims against and defenses to claims by the County under the 2005 agreement that could reduce or offset its obligation for reimbursement of some of these potential additional costs. With the assistance of environmental consultants, the Company will closely monitor this matter and will continue to assess its reserves as additional information becomes available. No Spill Matter On December 11, 2018, No Spill Inc. ("No Spill") filed suit against Scepter Manufacturing LLC in the United States District Court for the District of Kansas asserting infringement of two patents, breach of contract, and trade dress claims in relation to plastic gasoline containers Scepter manufactures and sells in the United States. Scepter Canada, Inc. was later added in a second amended complaint. On January 6, 2022, the District Court bifurcated the patent infringement and invalidity issues from the antitrust and other issues in the case. The trial on patent infringement and invalidity was held in early March 2023, resulting in a unanimous jury verdict on March 14, 2023 in favor of the defendant Scepter entities on each of the alleged claims of infringement. On April 24, 2023, the Court issued an Order dismissing all remaining claims in the case with prejudice and entered final Judgment of the jury verdict in favor of Scepter. On April 24, 2023, the parties dismissed the remaining claims and phase two of the bifurcated trial will not proceed. Both parties filed post-trial motions with the District Court to preserve the issues for appeal. The District Court denied No Spill's motion for judgment as a matter of law and for a new trial. No Spill did not file an appeal. The underlying case is now concluded. To date, Scepter has incurred $ 13.3 million of defense costs in this matter, of which $ 3.6 million, $ 3.1 million and $ 3.2 million were incurred for the years ended December 31, 2023, 2022 and 2021, respectively. In the fourth quarter of 2023, the Company reached a settlement agreement with one of its insurers, with respect to certain insurance coverage related to defense costs for $ 10 million, which was recorded as a reduction to legal costs within Selling, general and administrative expenses for the year ended December 31, 2023. As of December 31, 2023, Scepter has received insurance recoveries of $ 3.2 million and has established a receivable related to the remaining expected insurance recovery of these costs of $ 6.8 million, which is classified in Other accounts receivable on the Consolidated Statements of Financial Position. The remaining receivable of $ 6.8 million was received in February 2024. Other Matters On February 14, 2023, a lawsuit was filed by Nan Morgan McCartney in the Circuit Court of Escambia County, Florida against the Company, Scepter US Holding Company, Scepter Manufacturing, LLC, Scepter Canada Inc., Walmart Inc., and Wal-Mart Stores East, LP. The complaint seeks compensatory damages and court costs for harm caused to Ms. McCartney allegedly arising from use of a 5-gallon portable fuel container manufactured by a Scepter company and alleges amounts in controversy in excess of $ 30 thousand exclusive of costs. The case has been removed to the Northern District of Florida, Pensacola Division. The Myers' defendants filed their Answer to the Complaint on April 25, 2023. On May 19, 2023 the Court filed a Final Scheduling Order. Defendants have served written discovery on Plaintiff. Plaintiff was deposed on September 6, 2023. We are scheduling depositions for other fact witnesses. No other proceedings have occurred in this litigation matter as of the date of this filing and the Company cannot assess with any meaningful probability the outcome or the potential damages. The Company has maintained insurance policies, which it believes may cover a substantial portion of the defense costs incurred in this matter.

Long-Term Debt and Loan Agreeme

Long-Term Debt and Loan Agreements	12 Months Ended
Long-Term Debt and Loan Agreements	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt and Loan Agreements	10. Long-Term Debt and Loan Agreements Long-term debt at December 31, 2023 and 2022 consisted of the following: December 31, December 31, 2023 2022 Loan Agreement $ 20,000 $ 56,000 5.25 % Senior Unsecured Notes due January 15, 2024 11,000 11,000 5.30 % Senior Unsecured Notes due January 15, 2024 15,000 15,000 5.45 % Senior Unsecured Notes due January 15, 2026 12,000 12,000 58,000 94,000 Less unamortized deferred financing costs 13 38 57,987 93,962 Less current portion long-term debt 25,998 — Long-term debt $ 31,989 $ 93,962 See Note 15, Subsequent Events, for information regarding refinancing and repayment activity that occurred after December 31, 2023 On September 29, 2022, the Company entered into a Seventh Amended and Restated Loan Agreement (the “Seventh Amendment”), which amended the Sixth Amended and Restated Loan Agreement (the "Sixth Amendment"), dated March 12, 2021. The Seventh Amendment, among other things, extended the maturity date to September 2027 from March 2024 . The Seventh Amendment did not change the senior revolving credit facility's $ 250 million borrowing limit, which includes a letter of credit subfacility and swingline subfacility, or the outstanding letters of credit. In connection with the Seventh Amendment, the Company incurred $ 0.9 million of deferred financing fees, which are included in Other Assets (long-term). Together with unamortized fees from the Sixth Amendment remaining deferred financing fees under the Company's Loan Agreement were $ 1.1 million and $ 1.4 million as of December 31, 2023 and December 31, 2022, respectively, which will be amortized to Interest expense over the term of the Loan Agreement (defined below). In March 2021, the Company entered into the Sixth Amendment, which amended the Fifth Amended and Restated Loan Agreement (collectively with the Sixth and Seventh Amendments, the “Loan Agreement”) dated March 2017. The Sixth Amendment increased the senior revolving credit facility’s borrowing limit to $ 250 million from $ 200 million, extended the maturity date to March 2024 from March 2022 , and increased flexibility of the financial and other covenants and provisions. Amounts borrowed under the credit facility are secured by pledges of stock of certain of the Company’s foreign subsidiaries and guaranties of certain of its domestic subsidiaries. In connection with the Sixth Amendment, the Company incurred $ 1.1 million of deferred financing fees, which are included in Other Assets (long-term) and being amortized to Interest expense over the term of the Loan Agreement. As of December 31, 2023, the Company had $ 224.3 million available under the Loan Agreement, which is available for the ongoing working capital requirements of the Company and its subsidiaries and for general corporate purposes. The Company had $ 5.7 million of letters of credit issued related to insurance and other contracts requiring financial assurance in the ordinary course of business. Borrowings under the Loan Agreement bear interest at the Term SOFR, RFR, EURIBOR and CDOR-based borrowing rates. Amounts borrowed under the credit facility are secured by pledges of stock of certain of the Company’s foreign subsidiaries and guaranties of certain of its domestic subsidiaries. The Company also holds Senior Unsecured Notes ("Notes") which range in face values from $ 11.0 million to $ 15.0 million , with interest rates ranging from 5.25 % to 5.45 % , payable semiannually, and maturing between January 2024 and January 2026 . At December 31, 2023 , $ 38.0 million of the Notes were outstanding. T he $ 11.0 million note and $ 15.0 million note of these Senior Unsecured Notes matured and o n January 12, 2024 the Company repaid these notes using cash on hand and borrowings under the Loan Agreement. The remaining $ 12.0 million of the Senior Unsecured Notes mature on January 15, 2026 . Amortization expense of the deferred financing costs was $ 0.3 million, $ 0.4 million, and $ 0.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included in Interest expense . The weighted average interest rate on borrowings under the Company’s long-term debt was 6.86 % for 2023, 4.87 % for 2022 , and 4.56 % for 2021, which includes a quarterly facility fee on the used and unused portion, as well as amortization of deferred financing costs. As of December 31, 2023 , the Company was in compliance with all of its debt covenants associated with its Loan Agreement and Notes. The most restrictive financial covenants for all of the Company’s debt are an interest coverage ratio (defined as earnings before interest, taxes, depreciation and amortization, as adjusted, divided by interest expense) and a leverage ratio (defined as total debt divided by earnings before interest, taxes, depreciation and amortization, as adjusted). The ratios as of December 31, 2023 are shown in the following table: Required Level Actual Level Interest Coverage Ratio 3.00 to 1 (minimum) 16.17 Leverage Ratio 3.25 to 1 (maximum) 0.70

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The effective tax rate from continuing operations was 26.0 % , 22.9 % and 25.6 % in 2023, 2022 and 2021 , respectively. A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows: Percent of Income before 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes - net of federal tax benefit 2.8 2.0 3.1 Foreign tax rate differential 1.5 0.6 1.3 Non-deductible expenses 0.4 0.4 0.4 Tax carryforward expiration — 2.5 — Changes in unrecognized tax benefits — ( 1.0 ) — Valuation allowances — ( 2.3 ) — Other 0.3 ( 0.3 ) ( 0.2 ) Effective tax rate for the year 26.0 % 22.9 % 25.6 % Income before income taxes was attributable to the following sources: 2023 2022 2021 United States $ 55,553 $ 66,646 $ 36,203 Foreign 10,503 11,564 8,890 Totals $ 66,056 $ 78,210 $ 45,093 Income tax expense consisted of the following: Year ended December 31, 2023 2022 2021 Current: Federal $ 11,296 $ 11,583 $ 4,901 State and local 2,237 1,739 1,439 Foreign 2,617 2,549 2,389 Total current provision 16,150 15,871 8,729 Deferred: Federal 617 1,675 2,534 State and local 62 230 345 Foreign 360 167 ( 53 ) Total deferred provision 1,039 2,072 2,826 Provision for income taxes $ 17,189 $ 17,943 $ 11,555 During 2018, the Company recorded a provision and related deferred tax liability of $ 0.6 million related primarily to the earnings of the Company’s subsidiary in Guatemala, which were deemed by management to no longer be permanently reinvested. The earnings and profits for all foreign subsidiaries had been previously included in the calculation of the one-time deemed repatriation transition tax, and thus, should there be a repatriation of earnings from any other foreign subsidiaries in future periods, the Company expects to be subject to only foreign withholding tax. Management does not currently anticipate a repatriation of earnings from any other foreign subsidiaries, except as provided above, as these earnings are deemed to be permanently reinvested. Significant components of the Company’s deferred taxes as of December 31, 2023 and 2022 are as follows: 2023 2022 Deferred income tax assets Compensation accruals $ 2,487 $ 2,449 Inventory valuation 2,515 1,553 Allowance for uncollectible accounts 672 510 Non-deductible accruals 4,040 4,137 Operating lease liability 6,025 5,932 Finance lease liability 1,934 1,981 Other deductible non-goodwill intangibles 5,473 5,369 State deferred taxes — 32 Capital loss carryforwards 127 127 Net operating loss carryforwards 73 21 23,346 22,111 Valuation allowance ( 127 ) ( 127 ) 23,219 21,984 Deferred income tax liabilities Property, plant and equipment 12,208 10,508 Goodwill and indefinite-lived intangibles 10,254 9,438 Right of use asset - operating leases 5,878 5,832 Finance lease assets 1,820 1,906 State deferred taxes 18 — Other 1,492 1,679 31,670 29,363 Net deferred income tax liability $ ( 8,451 ) $ ( 7,379 ) In 2022, the Company impaired its investment in a joint venture, as described in Note 1, incurring a capital loss for which a deferred tax asset of $ 0.1 million was recorded. As of December 31, 2022 a valuation allowance of $ 0.1 million was recorded against this capital loss deferred tax asset, as the recovery is not more likely than not. The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2023 2022 2021 Balance at January 1 $ — $ 774 $ 774 Increases related to previous year tax positions — — — Reductions due to lapse of applicable statute of limitations — ( 774 ) — Balance at December 31 $ — $ — $ 774 The total amount of gross unrecognized tax benefits that would reduce the Company’s effective tax rate was $ 0.0 million, $ 0.0 million and $ 0.8 million at December 31, 2023, 2022 and 2021, respectively. The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of December 31, 2023 , the Company is no longer subject to U.S. Federal examinations by tax authorities for tax years before 2020. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2018 through 2022 .

Retirement Plans

Retirement Plans	12 Months Ended
Retirement Plans	Dec. 31, 2023
Retirement Benefits [Abstract]
Retirement Plans	12. Retirement Plans The Company and certain of its subsidiaries have pension and profit sharing plans covering substantially all of their employees. The Company’s defined benefit pension plan, The Pension Agreement between Akro-Mils and United Steelworkers of America Local No. 1761-02 , (the “Plan”) provides benefits primarily based upon a fixed amount for each year of service. The Plan was frozen in 2007, and no benefits for service have accumulated after this date. Net periodic pension cost of the Plan for the years ended December 31, 2023, 2022 and 2021 was as follows: For the Year Ended December 31, 2023 2022 2021 Interest cost $ 233 $ 162 $ 151 Expected return on assets ( 144 ) ( 156 ) ( 193 ) Amortization of net loss 70 67 85 Net periodic pension cost $ 159 $ 73 $ 43 The reconciliation of changes in the Plan’s projected benefit obligations and assets are as follows: December 31, 2023 2022 Change in benefit obligation: Projected benefit obligation at beginning of year $ 4,783 $ 6,298 Interest cost 233 162 Actuarial (gain) loss 84 ( 1,347 ) Benefits paid ( 334 ) ( 330 ) Projected benefit obligation at end of year $ 4,766 $ 4,783 Change in plan assets: Fair value of plan assets at beginning of year $ 4,599 $ 5,877 Actual return on plan assets 316 ( 1,148 ) Company contributions 50 200 Benefits paid ( 334 ) ( 330 ) Fair value of plan assets at end of year $ 4,631 $ 4,599 Funded status $ ( 135 ) $ ( 184 ) The Plan’s funded status shown above is included in Other liabilities (long term) in the Company’s Consolidated Statements of Financial Position at December 31, 2023 and 2022. The Company is not required to make contributions in 2024. In 2024 the Company began the process to terminate the Plan and does not plan to make voluntary contributions other than as required in the termination process. Because the Plan has been frozen, the accumulated benefit obligation is equal to the projected benefit obligation. The actuarial loss incurred during the year ended December 31, 2023 was due to a decrease in the discount rate whereas the actuarial gain incurred during the year ended December 31, 2022 was due to an increase in the discount rate for benefit obligations. The assumptions used to determine the Plan’s net periodic benefit cost and benefit obligations are as follows: December 31, 2023 2022 2021 Discount rate for net periodic pension cost 5.05 % 2.65 % 2.30 % Discount rate for benefit obligations 4.85 % 5.05 % 2.65 % Expected long-term return of plan assets 5.25 % 4.50 % 5.25 % The expected long-term rate of return is based on the long-term expected returns for the investment mix consistent with the Plan’s current asset allocation and investment policy. The Plan’s asset allocation and investment policy increases the allocation of fixed income investments that are managed to match the duration of the underlying pension liability as the funding status improves. The assumed discount rates represent long-term high-quality corporate bond rates commensurate with the liability duration of the Plan. The fair value of Plan assets at December 31, 2023 and 2022 consist of mutual funds valued at $ 0.5 million and $ 1.0 million, respectively, and pooled separate accounts valued at $ 4.1 million and $ 3.6 million. Fair values of all Plan assets are categorized as Level 1. Mutual fund values are determined based on period end, closing quoted prices in active markets. The pooled separate accounts are measured at net asset value, which is made readily available to investors. Each of the pooled separate accounts invest in multiple fixed securities and provide for daily redemptions by the plan with no advance notice requirements and have redemption prices that are also determined by the fund’s net asset value per unit with no redemption fees. The weighted average asset allocations for the Plan at December 31, 2023 and 2022 were as follows: December 31, 2023 2022 U.S. equities securities 11 % 22 % U.S. debt securities 89 % 78 % 100 % 100 % Benefit payments projected for the Plan are as follows: 2024 $ 370 2025 370 2026 370 2027 370 2028 360 2029-2033 1,770 The Company maintains defined contribution plans for its U.S.-based employees, who are not covered under defined benefit plans and have met eligibility service requirements. The Company recognized expense related to the 401(k) employer matching contribution in the amount of, $ 4.5 million , $ 4.2 million and $ 3.4 million in 2023, 2022 and 2021, respectively. In addition, the Company has a Supplemental Executive Retirement Plan (“SERP”) to provide certain former senior executives with retirement benefits in addition to amounts payable under the 401(k) plan. Net expense (benefit) related to the SERP was not meaningful for the years ended December 2023, 2022 and 2021, respectively. The SERP liability was based on the discounted present value of expected future benefit payments using a discount rate of 4.9 % at December 31, 2023 and 5.1 % at December 31, 2022. The SERP liability was approximately $ 0.9 million and $ 1.2 million at December 31, 2023 and 2022, respectively, and is included in Accrued employee compensation and other liabilities (long term) on the accompanying Consolidated Statements of Financial Position. The SERP is unfunded.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2023
Leases [Abstract]
Leases	13. Leases The Company determines if an arrangement is a lease at inception. The Company has leases for manufacturing facilities, distribution centers, warehouses, office space and equipment, with remaining lease terms of one to twelve years . Certain of these leases include options to extend the lease for up to five years , and some include options to terminate the lease early. Leases with an initial term of 12 months or less are not recorded on the Consolidated Statements of Financial Position; the Company recognizes lease expense for these short-term leases on a straight-line basis over the lease term. Operating leases with an initial term greater than 12 months are included in Right of use asset – operating leases (“ROU assets”), Operating lease liability – short term , and Operating lease liability – long term and finance leases are included in Property, plant and equipment , Finance lease liability – short term , and Finance lease liability – long term in the Consolidated Statements of Financial Position. The ROU assets represent the right to use an underlying asset for the lease term and the lease liabilities represent the obligation to make lease payments. ROU assets and lease liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. When leases do not provide an implicit rate, the Company’s incremental borrowing rate is used, which is then applied at the portfolio level, based on the information available at commencement date in determining the present value of lease payments. The Company has also elected not to separate lease and non-lease components. The lease terms include options to extend or terminate the lease when it is reasonably certain the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term. Amounts included in the Consolidated Statements of Financial Position related to leases were: December 31, December 31, Classification 2023 2022 Assets: Operating lease assets Right of use asset - operating leases $ 27,989 $ 28,908 Finance lease assets Property, plant and equipment, net 8,668 9,075 Total lease assets $ 36,657 $ 37,983 Liabilities: Current Operating lease liability - short-term $ 5,943 $ 6,177 Long-term Operating lease liability - long-term 22,352 22,786 Total operating lease liabilities 28,295 28,963 Current Finance lease liability - short-term 593 518 Long-term Finance lease liability - long-term 8,615 8,919 Total finance lease liabilities 9,208 9,437 Total lease liabilities $ 37,503 $ 38,400 The components of lease expense include: For the Year Ended December 31, Lease Cost Classification 2023 2022 2021 Operating lease cost (1) Cost of sales $ 6,193 $ 5,673 $ 5,095 Operating lease cost (1) Selling, general and administrative expenses 3,354 2,884 2,328 Finance lease cost Amortization expense Cost of sales 720 689 574 Interest expense on lease liabilities Interest expense, net 337 340 298 Total lease cost $ 10,604 $ 9,586 $ 8,295 (1) Includes short-term leases and variable lease costs, which are immaterial Supplemental cash flow information related to leases was as follows: For the Year Ended December 31, Supplemental Cash Flow Information 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,580 $ 6,941 $ 5,952 Operating cash flows from finance leases $ 337 $ 340 $ 298 Financing cash flows from finance leases $ 542 $ 500 $ 402 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases $ 6,143 $ 4,371 $ 7,438 Finance leases $ 313 $ — $ 10,339 Lease Term and Discount Rate December 31, 2023 December 31, 2022 Weighted-average remaining lease term (years): Operating leases 5.67 6.44 Finance leases 11.99 13.17 Weighted-average discount rate: Operating leases 4.7 % 3.6 % Finance leases 3.7 % 3.5 % Maturity of Lease Liabilities - As of December 31, 2023 Operating Leases Finance Leases Total 2024 $ 7,117 $ 920 $ 8,037 2025 6,163 924 7,087 2026 5,221 924 6,145 2027 4,388 945 5,333 2028 3,398 950 4,348 After 2028 5,749 6,708 12,457 Total lease payments 32,036 11,371 43,407 Less: interest ( 3,741 ) ( 2,163 ) ( 5,904 ) Present value of lease liabilities $ 28,295 $ 9,208 $ 37,503

Segments

Segments	12 Months Ended
Segments	Dec. 31, 2023
Segment Reporting [Abstract]
Segments	14. Segments The Company manages its business under two operating segments, Material Handling and Distribution, consistent with the manner in which the Chief Operating Decision Maker ("CODM") evaluates performance and makes resource allocation decisions. None of the reportable segments include operating segments that have been aggregated. These segments contain individual business components that have been combined on the basis of common management, customers, products, production processes and other economic characteristics. Intersegment sales are recorded with a reasonable margin and are eliminated in consolidation. The Material Handling Segment manufactures a broad selection of durable plastic reusable containers that are used repeatedly during the course of their service life. At the end of their service life, these highly sustainable products can be recovered, recycled, and reprocessed into new products. The Material Handling Segment’s products include pallets, small parts bins, bulk shipping containers, storage and organization products, OEM parts, custom plastic products, consumer fuel containers and tanks for water, fuel and waste handling. Products in the Material Handling Segment are primarily injection molded, rotationally molded or blow molded. This segment conducts its primary operations in the United States and Canada. Markets served include industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles and consumer, among others. Products are sold both directly to end-users and through distributors. The Distribution Segment is engaged in the distribution of equipment, tools, and supplies used for tire servicing and automotive under-vehicle repair and the manufacture of tire repair and retreading products. The product line includes categories such as tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment and tools, and tire repair/retread supplies. The Distribution Segment also manufactures and sells certain traffic markings, including reflective highway marking tape. The Distribution Segment operates domestically through its sales offices and eight regional distribution centers in the United States, and in certain foreign countries through export sales. In addition, the Distribution Segment operates directly in certain foreign markets, principally Central America, through foreign branch operations. Markets served include retail and truck tire dealers, commercial auto and truck fleets, truck stop operations, auto dealers, general service and repair centers, tire retreaders, and government agencies. The acquisition of Mohawk, described in Note 3, is included in the Distribution Segment. Total sales from foreign business units were approximately $ 46.1 million, $ 54.2 million, and $ 48.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. Export sales from the Company's U.S. operations were approximately $ 30.0 million, $ 31.7 million, and $ 29.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Sales made to customers in Canada accounted for approximately 4.4 % , 4.3 % and 4.6 % of total net sales in 2023, 2022 and 2021, respectively. There are no other individual foreign countries for which sales are material. Long-lived assets in foreign countries, primarily in Canada, consisted of property, plant and equipment, and were approximately $ 10.3 million and $ 10.4 million at December 31, 2023 and 2022, respectively. 2023 2022 2021 Net Sales Material Handling $ 555,259 $ 647,619 $ 564,068 Distribution 257,875 251,966 197,427 Inter-company sales ( 67 ) ( 38 ) ( 60 ) Total net sales $ 813,067 $ 899,547 $ 761,435 Operating income Material Handling (5) $ 100,088 $ 104,079 $ 62,187 Distribution (2) (3) 10,967 15,862 15,428 Corporate (1) (3) (4) ( 38,650 ) ( 36,000 ) ( 28,314 ) Total operating income 72,405 83,941 49,301 Interest expense, net ( 6,349 ) ( 5,731 ) ( 4,208 ) Income before income taxes $ 66,056 $ 78,210 $ 45,093 Total Assets Material Handling $ 383,734 $ 385,722 $ 370,499 Distribution 112,323 119,652 88,757 Corporate 45,574 37,260 25,293 Total assets $ 541,631 $ 542,634 $ 484,549 Capital Additions, Net Material Handling $ 20,452 $ 22,528 $ 17,173 Distribution 1,666 705 402 Corporate 737 1,059 292 Total capital additions, net $ 22,855 $ 24,292 $ 17,867 Depreciation and Amortization Material Handling $ 18,917 $ 17,814 $ 17,803 Distribution 3,197 2,889 2,208 Corporate (6) 985 954 874 Total depreciation and amortization $ 23,099 $ 21,657 $ 20,885 (1) The Company recognized $ 3.2 million, $ 1.4 million and $ 0.7 million of expense to the estimated environmental reserve, net of expected insurance recoveries in the years ended December 31, 2023, 2022 and 2021, respectively, as described in Note 9. Environmental charges are not included in segment results and are shown with Corporate. (2) In the year ended December 31, 2022, the Company recognized a $ 0.6 million impairment loss on an investment in a legacy joint venture within the Distribution Segment as described in Note 1. (3) In the year ended December 31, 2023, the Company recognized $ 0.7 million of executive severance, of which $ 0.4 million was recognized in the Distribution Segment related to severance and $ 0.3 million was recognized in Corporate related to charges for acceleration of stock compensation. (4) Corporate includes $ 1.3 million of consulting costs to improve the Company's capabilities to screen and execute large acquisitions in addition to $ 2.6 million of acquisition related costs associated with the Signature acquisition, as described in Note 15, for the year ended December 31, 2023. (5) In the year ended December 31, 2023, the Company recognized a $ 10 million recovery of legal costs within the Material Handling Segment related to a settlement agreement with one of its insurers, as described in Note 9. $ 6.7 million of these recovered costs were originally incurred prior to 2023. (6) Corporate depreciation and amortization includes amortization of deferred financing costs of $ 0.3 million, $ 0.4 million and $ 0.5 million in the years ended December 31, 2023, 2022 and 2021, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events Acquisition of Signature Systems On February 8, 2024 , the Company acquired Signature Systems , a manufacturer and distributor of composite matting ground protection for industrial applications, stadium turf protection and temporary event flooring, for $ 350 million plus customary working capital and other adjustments in an all-cash transaction, funded through an amendment and restatement of Myers’ existing loan agreement discussed below. The acquisition was completed by acquiring the stock of Signature CR Intermediate Holdco, Inc. Goodwill acquired in this transaction will not be tax deductible. In 2023, Signature System’s revenue was approximately $ 110 million. Signature will be included in the Material Handling segment. Repayment and termination of Senior Unsecured Notes On January 12, 2024, the Company repaid $ 26.0 million of Senior Unsecured Notes upon maturity using cash on hand and availability under the Loan Agreement. On February 6, 2024, in connection with the subsequent amendment and restatement to the Loan Agreement described below, the Company prepaid the remaining $ 12.0 million face value of Senior Unsecured Notes, which were due January 15, 2026, using availability under the revolving credit facility under the Loan Agreement. After giving effect to the payment in full of all outstanding Senior Unsecured Notes under the Note Purchase Agreement, the Note Purchase Agreement has been terminated. First Amendment to Loan Agreement On February 8, 2024, the Company entered into Amendment No. 1 to the Seventh Amended and Restated Loan Agreement (“Amendment No. 1”), which amended the Seventh Amended and Restated Loan Agreement (the "Loan Agreement” – see also Note 10) dated September 29, 2022 (collectively, the “Amended Loan Agreement”). Amendment No. 1, among other things, permits the acquisition of Signature Systems and provides for a new 5-year $ 400 million term loan facility (“Term Loan A”). Term Loan A will amortize in quarterly installment payments in aggregate annual amounts equal to $ 20 million in years 1 and 2 and $ 40 million in years 3 through 5. Term Loan A may be voluntarily prepaid at any time , in whole or in part, without penalty or premium, however, all amounts repaid or prepaid in respect of Term Loan A may not be reborrowed. Amendment No. 1 did not change the existing revolving credit facility’s maturity date or $ 250 million borrowing limit, which includes a letter of credit subfacility and swingline subfacility. In connection with Amendment No. 1, the Company incurred deferred financing fees of approximately $ 9 million. The Amended Loan Agreement is on substantially the same terms as the Loan Agreement, except Amendment No. 1 has amended, among other items, (i) to permit the Signature Systems acquisition, (ii) to modify the maximum leverage ratio to not exceed (x) 4.00 to 1:00 on a “net” basis for an initial “net” leverage ratio holiday period for the immediate fiscal quarter end after the Signature Systems acquisition is consummated and for the three immediately following fiscal quarter ends thereafter and (y) 3.25 to 1.00 on a “net” basis after such “net” leverage ratio holiday period (subject to additional “net” leverage ratio holiday periods at the election of the Company for such periods that are more fully described in the Amended Loan Agreement), (iii) to modify certain negative covenants (including the restricted payment covenant) so that the applicable incurrence tests for such negative covenants is now based on the new “net” leverage ratio level, (iv) to increase the applicable margins for the loans under the Amended Loan Agreement to range between 1.775 % to 2.35 % for Term SOFR, RFR, SONIA, EURIBOR and CORRA based loans and between 0.775 % and 1.35 % for base rate loans, in each case based from time to time on the determination of the Company’s then net leverage ratio, (v) to replace the Canadian Dealer Offered Rate (CDOR) as the applicable reference rate with respect to loans denominated in Canadian Dollars to the Canadian Overnight Repo Rate Average (CORRA), and (vi) to amend the scope of collateral securing the obligations under the Amended Loan Agreement to be an “all asset” lien (subject to customary provisions of excluded collateral not subject to the liens).

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. All subsidiaries that are not wholly owned and are not included in the consolidated operating results of the Company are immaterial investments which have been accounted for under the equity or cost method. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the timing and amount of assets, liabilities, equity, revenues, and expenses recorded and disclosed. Actual results could differ from those estimates.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This ASU is intended to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity's operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For the Company, this ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU should be applied prospectively although retrospective application is also permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . This ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For the Company, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU are required to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.
Translation of Foreign Currencies	Translation of Foreign Currencies All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting foreign currency translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders’ equity.
Fair Value Measurement	Fair Value Measurement Fair value is the price to hypothetically sell an asset or transfer a liability in an orderly manner in the principal market for that asset or liability. Accounting standards prioritize the use of observable inputs in measuring fair value. The level of a fair value measurement is determined entirely by the lowest level input that is significant to the measurement. The three levels are (from highest to lowest): Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly. Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions. The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximates carrying value due to the nature and relative short maturity of these assets and liabilities. The fair value of debt under the Company’s Loan Agreement, as defined in Note 10, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements, which are considered Level 2 inputs. At December 31, 2023 and 2022, the aggregate fair value of the Company’s outstanding fixed rate senior unsecured notes was estimated at $ 37.8 million and $ 37.4 million, respectively. The purchase price allocations associated with the May 31, 2022 acquisition of Mohawk Rubber Sales of New England Inc. ("Mohawk"), as described in Note 3, required fair value measurements using unobservable inputs which are considered Level 3 inputs. The fair value of the acquired intangible assets was determined using an income approach. Similarly, impairment testing of goodwill and indefinite-lived intangible assets as described in Note 4 involves determination of fair value using unobservable inputs, which are considered Level 3 inputs. The fair values of the reporting units in accordance with the goodwill impairment test were determined using the income and/or market approaches.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of trade accounts receivable. The concentration of accounts receivable credit risk is generally limited based on the Company’s diversified operations, with customers spread across many industries and countries. In 2023 , there were no customers that accounted for more than ten percent of net sales. The Company does not have a material concentration of sales in any country outside of the United States.
Allowance for Credit Losses	Allowance for Credit Losses Management has established certain requirements that customers must meet before credit is extended. The financial condition of customers is continually monitored and collateral is usually not required. The Company evaluates the collectability of accounts receivable based on a combination of factors. The Company reviews historical trends for credit loss as well as current economic conditions in determining an estimate for its allowance for credit losses. Additionally, in circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific allowance for credit losses is recorded against amounts due to reduce the net recognized receivable to the amount the Company reasonably expects will be collected. Expense related to bad debts was approximately $ 1.8 million, $ 0.5 million and $ 0.7 million for 2023, 2022 and 2021, respectively, and is recorded within Selling, general and administrative expenses in the Consolidated Statements of Operations. Deductions from the allowance for doubtful accounts, net of recoveries, were approximately $ 1.1 million, $ 0.4 million and $ 0.9 million for 2023, 2022 and 2021, respectively. Changes in the allowance for credit losses for the years ended December 31, 2023 and 2022 were as follows: 2023 2022 Balance at January 1 $ 2,273 $ 2,173 Provision for expected credit loss, net of recoveries 1,808 540 Write-offs and other ( 1,092 ) ( 440 ) Balance at December 31 $ 2,989 $ 2,273
Inventories	Inventories Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 35 percent of our inventories are valued using the LIFO method of determining cost. All other inventories are valued at the FIFO method of determining cost. Inventories at December 31 consist of the following: December 31, December 31, 2023 2022 Finished and in-process products $ 53,382 $ 54,991 Raw materials and supplies 37,462 38,360 $ 90,844 $ 93,351 If the FIFO method of inventory cost valuation had been used exclusively by the Company, inventories would have been $ 8.6 million and $ 8.6 million higher than reported at December 31, 2023 and 2022, respectively. Cost of sales decreased by $ 0.2 million, $ 0.8 million and $ 0.1 million in 2023, 2022 and 2021 , respectively, as a result of the liquidation of LIFO inventories.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation and amortization. The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows: Buildings 20 to 40 years Machinery and equipment 3 to 10 years Leasehold improvements 5 to 10 years The Company’s property, plant and equipment by major asset class at December 31 consists of: December 31, December 31, 2023 2022 Land $ 6,546 $ 6,907 Buildings and leasehold improvements 63,871 60,982 Machinery and equipment 326,650 311,822 397,067 379,711 Less allowances for depreciation and amortization ( 289,134 ) ( 278,145 ) $ 107,933 $ 101,566 Depreciation expense was $ 16.2 million , $ 15.0 million and $ 15.2 million in the years ended December 31, 2023, 2022 and 2021 , respectively.
Long-Lived Assets	Long-Lived Assets The Company reviews its long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Determination of potential impairment related to assets to be held and used is based upon undiscounted future cash flows resulting from the use and ultimate disposition of the asset and related asset group. For assets held for sale, the amount of potential impairment may be based upon appraisal of the asset, estimated market value of similar assets or estimated cash flow from the disposition of the asset.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) were as follows: Foreign Defined Benefit Total Balance at January 1, 2021 $ ( 13,974 ) $ ( 1,799 ) $ ( 15,773 ) Other comprehensive income (loss) before reclassifications 39 269 308 Amounts reclassified from accumulated other comprehensive income, net 21 ) (1) — 64 64 Net current-period other comprehensive income (loss) 39 333 372 Balance at December 31, 2021 ( 13,935 ) ( 1,466 ) ( 15,401 ) Other comprehensive income (loss) before reclassifications ( 2,475 ) 33 ( 2,442 ) Amounts reclassified from accumulated other comprehensive income, net 17 ) (1) — 50 50 Net current-period other comprehensive income (loss) ( 2,475 ) 83 ( 2,392 ) Balance at December 31, 2022 ( 16,410 ) ( 1,383 ) ( 17,793 ) Other comprehensive income (loss) before reclassifications 859 66 925 Amounts reclassified from accumulated other comprehensive income, net 18 ) (1) — 53 53 Net current-period other comprehensive income (loss) 859 119 978 Balance at December 31, 2023 $ ( 15,551 ) $ ( 1,264 ) $ ( 16,815 ) (1) The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 12, Retirement Plans for additional details.
Stock Based Compensation	Stock Based Compensation The Company has stock incentive plans that provide for the granting of stock-based compensation to employees and directors. Shares issued for option exercises, restricted stock units and performance units may be either from authorized, but unissued shares or treasury shares. For equity-classified awards, the fair value is determined on the date of the grant and not remeasured. The fair value of restricted stock units without a relative Total Shareholder Return ("rTSR") modifier are determined using the closing price of the Company’s common stock on the grant date (Level 1 measurement). The fair value of performance units with a rTSR modifier is determined using a Monte Carlo simulation, which determines the probability of satisfying the market condition included in the award using market-based inputs (Level 2 measurement). For these awards, the performance-based vesting requirements determine the number of shares that ultimately vest, which can vary from 0 % to 250 % of target depending on the level of achievement of established performance and market criteria, where applicable. The fair value of options is determined using a binomial lattice option pricing model which uses market-based inputs (Level 2 measurement). When awards contain a required holding period after vesting, the fair value is discounted to reflect the lack of marketability. Expense for restricted stock units and stock options is recognized on a straight-line basis over the requisite service period, which is generally equivalent to the vesting term. Compensation expense for performance units is recognized over the requisite service period subject to adjustment based on the probable number of shares expected to vest under the performance condition. Forfeitures result in reversal of previously recognized expenses for unvested shares and are recognized in the period in which the forfeiture occurs.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to be received or settled. Any effect on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period the change is enacted. Deferred tax assets are reduced by a valuation allowance, if based on all available evidence, it is more likely than not that the deferred tax asset will not be realized. The Company evaluates the recovery of its deferred tax assets by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income inherently rely heavily on estimates. In the ordinary course of business, there is inherent uncertainty in quantifying certain income tax positions. The Company evaluates uncertain tax positions for all years subject to examination based upon management’s evaluations of the facts, circumstances and information available at the reporting date. Income tax positions must meet a more-likely-than-not recognition threshold at the reporting date to be recognized. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. Capital expenditures in the Consolidated Statement of Cash Flows excludes accrued, but unpaid, capital expenditures. Changes in the amount accrued increased (reduced) cash used for capital expenditures by $ 0.7 million, $( 0.6 ) million and $( 0.2 ) million 2023, 2022 and 2021, respectively. Investments In 2013, the Company invested in a joint venture to distribute tools, supplies and equipment to the Indian auto aftermarket. The Company's minority ownership interest has been accounted for under ASC 321, Investments - Equity Securities, as the Company cannot exercise significant influence over operating and financial policies of the joint venture. Under ASC 321, for each reporting period, a qualitative assessment is completed to evaluate whether the investment is impaired. During the fourth quarter of 2022, impairment triggers were identified and the investment in the joint venture was fully impaired, resulting in a $ 0.6 million pre-tax impairment loss in Other (income) expenses in the Consolidated Statement of Operations .
Impairment of JV investment	Investments In 2013, the Company invested in a joint venture to distribute tools, supplies and equipment to the Indian auto aftermarket. The Company's minority ownership interest has been accounted for under ASC 321, Investments - Equity Securities, as the Company cannot exercise significant influence over operating and financial policies of the joint venture. Under ASC 321, for each reporting period, a qualitative assessment is completed to evaluate whether the investment is impaired. During the fourth quarter of 2022, impairment triggers were identified and the investment in the joint venture was fully impaired, resulting in a $ 0.6 million pre-tax impairment loss in Other (income) expenses in the Consolidated Statement of Operations .
Revenue Recognition	Revenue is recognized when obligations under the terms of a contract with customers are satisfied. In both the Distribution and Material Handling segments, this generally occurs with the transfer of control of the Company’s products. This transfer of control may occur at either the time of shipment from a Company facility, or at the time of delivery to a designated customer location. Obligations under contracts with customers are typically fulfilled within 90 days of receiving a purchase order from a customer, and generally no other future obligations are required to be performed. The Company generally does not enter into contracts with customers for longer than one year. Based on the nature of the Company’s products and customer contracts, no deferred revenue has been recorded with the exception of cash advances or deposits received from customers prior to transfer of control of the product. These advances are typically fulfilled within the 90 day time frame mentioned above. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the products. Certain contracts with customers include variable consideration, such as rebates or discounts. The Company recognizes estimates of this variable consideration each period, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs. While the Company’s contracts with customers do not generally include explicit rights to return product, the Company will in practice allow returns in the normal course of business and as part of the customer relationship. Thus, the Company estimates the expected returns each period based on an analysis of historical experience. For certain businesses where physical recovery of the product from returns occurs, the Company records an estimated right to return asset from such recovery, based on the approximate cost of the product.
Leases	The Company determines if an arrangement is a lease at inception. The Company has leases for manufacturing facilities, distribution centers, warehouses, office space and equipment, with remaining lease terms of one to twelve years . Certain of these leases include options to extend the lease for up to five years , and some include options to terminate the lease early. Leases with an initial term of 12 months or less are not recorded on the Consolidated Statements of Financial Position; the Company recognizes lease expense for these short-term leases on a straight-line basis over the lease term. Operating leases with an initial term greater than 12 months are included in Right of use asset – operating leases (“ROU assets”), Operating lease liability – short term , and Operating lease liability – long term and finance leases are included in Property, plant and equipment , Finance lease liability – short term , and Finance lease liability – long term in the Consolidated Statements of Financial Position. The ROU assets represent the right to use an underlying asset for the lease term and the lease liabilities represent the obligation to make lease payments. ROU assets and lease liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. When leases do not provide an implicit rate, the Company’s incremental borrowing rate is used, which is then applied at the portfolio level, based on the information available at commencement date in determining the present value of lease payments. The Company has also elected not to separate lease and non-lease components. The lease terms include options to extend or terminate the lease when it is reasonably certain the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Changes in Allowance for Credit Losses	Changes in the allowance for credit losses for the years ended December 31, 2023 and 2022 were as follows: 2023 2022 Balance at January 1 $ 2,273 $ 2,173 Provision for expected credit loss, net of recoveries 1,808 540 Write-offs and other ( 1,092 ) ( 440 ) Balance at December 31 $ 2,989 $ 2,273
Summary of Determination Cost of Inventories	Inventories at December 31 consist of the following: December 31, December 31, 2023 2022 Finished and in-process products $ 53,382 $ 54,991 Raw materials and supplies 37,462 38,360 $ 90,844 $ 93,351
Schedule of Estimated Useful Lives of the Assets	The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows: Buildings 20 to 40 years Machinery and equipment 3 to 10 years Leasehold improvements 5 to 10 years
Schedule of Property Plant and Equipment by Major Assets Class	The Company’s property, plant and equipment by major asset class at December 31 consists of: December 31, December 31, 2023 2022 Land $ 6,546 $ 6,907 Buildings and leasehold improvements 63,871 60,982 Machinery and equipment 326,650 311,822 397,067 379,711 Less allowances for depreciation and amortization ( 289,134 ) ( 278,145 ) $ 107,933 $ 101,566
The balances in the Company's Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss) were as follows: Foreign Defined Benefit Total Balance at January 1, 2021 $ ( 13,974 ) $ ( 1,799 ) $ ( 15,773 ) Other comprehensive income (loss) before reclassifications 39 269 308 Amounts reclassified from accumulated other comprehensive income, net 21 ) (1) — 64 64 Net current-period other comprehensive income (loss) 39 333 372 Balance at December 31, 2021 ( 13,935 ) ( 1,466 ) ( 15,401 ) Other comprehensive income (loss) before reclassifications ( 2,475 ) 33 ( 2,442 ) Amounts reclassified from accumulated other comprehensive income, net 17 ) (1) — 50 50 Net current-period other comprehensive income (loss) ( 2,475 ) 83 ( 2,392 ) Balance at December 31, 2022 ( 16,410 ) ( 1,383 ) ( 17,793 ) Other comprehensive income (loss) before reclassifications 859 66 925 Amounts reclassified from accumulated other comprehensive income, net 18 ) (1) — 53 53 Net current-period other comprehensive income (loss) 859 119 978 Balance at December 31, 2023 $ ( 15,551 ) $ ( 1,264 ) $ ( 16,815 ) (1) The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 12, Retirement Plans for additional details.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2023
Revenue Recognition [Abstract]
Schedule of Revenue by Major Market	The Company’s revenue by major market is as follows: For the Year Ended December 31, 2023 Material Distribution Inter-company Consolidated Consumer $ 92,380 $ — $ — $ 92,380 Vehicle 123,155 — — 123,155 Food and beverage 118,063 — — 118,063 Industrial 221,661 — ( 67 ) 221,594 Auto aftermarket — 257,875 — 257,875 Total net sales $ 555,259 $ 257,875 $ ( 67 ) $ 813,067 For the Year Ended December 31, 2022 Material Distribution Inter-company Consolidated Consumer $ 113,339 $ — $ — $ 113,339 Vehicle 165,139 — — 165,139 Food and beverage 125,111 — — 125,111 Industrial 244,030 — ( 38 ) 243,992 Auto aftermarket — 251,966 — 251,966 Total net sales $ 647,619 $ 251,966 $ ( 38 ) $ 899,547 For the Year Ended December 31, 2021 Material Distribution Inter-company Consolidated Consumer $ 116,707 $ — $ — $ 116,707 Vehicle 170,322 — — 170,322 Food and beverage 83,817 — — 83,817 Industrial 193,222 — ( 60 ) 193,162 Auto aftermarket — 197,427 — 197,427 Total net sales $ 564,068 $ 197,427 $ ( 60 ) $ 761,435
Schedule of Balances Included in Consolidated Statements of Financial Position Related to Revenue Recognition	Amounts included in the Consolidated Statements of Financial Position related to revenue recognition include: December 31, December 31, Statement of Financial 2023 2022 Classification Returns, discounts and other allowances $ ( 1,200 ) $ ( 986 ) Trade accounts receivable Right of return asset $ 432 $ 350 Inventories, net Customer deposits $ ( 2,017 ) $ ( 5,896 ) Other current liabilities Accrued rebates $ ( 4,441 ) $ ( 4,711 ) Other current liabilities

Acquisitions (Tables)

Acquisitions (Tables) - Mohawk [Member]	12 Months Ended
Acquisitions (Tables) - Mohawk [Member]	Dec. 31, 2023
Summary of Allocation of Purchase Price Based on Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of the purchase price based on the estimated fair value of assets acquired and liabilities assumed, including measurement period adjustments and the finalized allocation of purchase price. Initial Allocation of Consideration Measurement Period Adjustments (1) Final Allocation Assets acquired: Accounts receivable $ 10,137 $ 458 $ 10,595 Inventories 8,209 ( 16 ) 8,193 Prepaid expenses 104 — 104 Other assets - long term 30 — 30 Property, plant and equipment 1,432 ( 261 ) 1,171 Right of use asset - operating leases 1,367 — 1,367 Intangible assets 7,720 90 7,810 Goodwill 7,485 ( 403 ) 7,082 Assets acquired $ 36,484 $ ( 132 ) $ 36,352 Liabilities assumed: Accounts payable $ 5,996 $ ( 191 ) $ 5,805 Accrued expenses 1,414 ( 70 ) 1,344 Operating lease liability - short term 399 — 399 Operating lease liability - long term 968 — 968 Total liabilities assumed 8,777 ( 261 ) 8,516 Net acquisition cost $ 27,707 $ 129 $ 27,836 (1) The Company's preliminary purchase price allocation changed due to additional information and further analysis.
Summary of Intangible Assets	The intangible assets included above consist of the following: Fair Value Weighted Average Customer relationships $ 5,500 12. 0 years Trade name 2,000 5.0 years Non-competition agreements 310 5.0 years Total amortizable intangible assets $ 7,810

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
Goodwill and Intangible Assets (Tables)	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
The change in goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 were as follows: Distribution Material Total January 1, 2022 $ 7,648 $ 81,130 $ 88,778 Acquisition 7,485 — 7,485 Purchase accounting adjustment ( 403 ) — ( 403 ) Foreign currency translation — ( 703 ) ( 703 ) December 31, 2022 $ 14,730 $ 80,427 $ 95,157 Foreign currency translation — 235 235 December 31, 2023 $ 14,730 $ 80,662 $ 95,392
Intangible assets	Intangible assets at December 31, 2023 and 2022 consisted of the following: 2023 2022 Weighted Average Gross Accumulated Net Gross Accumulated Net Trade names - indefinite lived $ 9,782 $ — $ 9,782 $ 9,782 $ — $ 9,782 Trade names 6.0 10,267 ( 3,417 ) 6,850 10,267 ( 2,142 ) 8,125 Customer relationships 12.0 75,505 ( 48,790 ) 26,715 75,110 ( 45,621 ) 29,489 Technology 0.6 24,980 ( 23,713 ) 1,267 24,980 ( 21,441 ) 3,539 Non-competition agreements 1.7 1,510 ( 995 ) 515 1,510 ( 693 ) 817 Patents — 11,730 ( 11,730 ) — 11,730 ( 11,730 ) — $ 133,774 $ ( 88,645 ) $ 45,129 $ 133,379 $ ( 81,627 ) $ 51,752

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
Net Income Per Common Share (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Weighted average number of common shares outstanding during the period	Net income per common share , as shown on the accompanying Consolidated Statements of Operations, is determined on the basis of the weighted average number of common shares outstanding during the periods as follows: For the Year Ended December 31, 2023 2022 2021 Weighted average common shares outstanding basic 36,744,560 36,411,389 36,138,571 Dilutive effect of stock options and restricted stock 351,008 379,450 220,398 Weighted average common shares outstanding diluted 37,095,568 36,790,839 36,358,969

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
Other Liabilities (Tables)	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The balance of Other current liabilities is comprised of the following: December 31, December 31, 2023 2022 Customer deposits and accrued rebates $ 6,458 $ 10,607 Dividends payable 5,900 5,722 Accrued litigation, claims and professional fees 2,868 596 Current portion of environmental reserves 8,205 3,284 Other accrued expenses 5,041 6,171 $ 28,472 $ 26,380
Schedule of Other Liabilities (Long-term)	The balance of Other liabilities (long-term) is comprised of the following: December 31, December 31, 2023 2022 Environmental reserves $ 9,357 $ 13,078 Supplemental executive retirement plan liability 548 824 Pension liability 135 184 Other long-term liabilities 2,068 1,184 $ 12,108 $ 15,270

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
Stock Compensation (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of stock option activity for the period	There were no options granted in 2023, 2022 and 2021. Options exercised in 2023, 2022 and 2021 were as follows: Year Options Exercised Exercised 2023 62,551 $ 11.62 to $ 18.69 2022 83,102 $ 12.96 to $ 21.30 2021 192,504 $ 11.62 to $ 21.30 Options outstanding and exercisable at December 31, 2023, 2022 and 2021 were as follows: Year Outstanding Range of Exercise Exercisable Weighted Average 2023 118,602 $ 11.62 to $ 21.30 118,602 $ 20.35 2022 224,882 $ 11.62 to $ 21.30 224,882 $ 18.82 2021 308,572 $ 11.62 to $ 21.30 297,295 $ 18.64 The following table provides a summary of stock option activity for the period ended December 31, 2023: Shares Average Weighted Outstanding at December 31, 2022 224,882 $ 18.82 Options granted — — Options exercised ( 62,551 ) 16.99 Canceled or forfeited ( 43,729 ) 17.30 Expired — — Outstanding at December 31, 2023 118,602 20.35 1.03 Exercisable at December 31, 2023 118,602 $ 20.35 1.03
Summary of combined restricted stock units, including performance-based restricted stock units and restricted stock activity for the period	The following table provides a summary of restricted stock units, including performance-based restricted stock units, and restricted stock activity for the year ended December 31, 2023: Shares Average Unvested shares at December 31, 2022 705,734 Granted 503,327 $ 19.79 Vested ( 293,153 ) $ 14.57 Canceled or forfeited ( 70,197 ) $ 19.93 Unvested shares at December 31, 2023 845,711

Long-Term Debt and Loan Agree_2

Long-Term Debt and Loan Agreements (Tables)	12 Months Ended
Long-Term Debt and Loan Agreements (Tables)	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Long-term debt at December 31, 2023 and 2022 consisted of the following: December 31, December 31, 2023 2022 Loan Agreement $ 20,000 $ 56,000 5.25 % Senior Unsecured Notes due January 15, 2024 11,000 11,000 5.30 % Senior Unsecured Notes due January 15, 2024 15,000 15,000 5.45 % Senior Unsecured Notes due January 15, 2026 12,000 12,000 58,000 94,000 Less unamortized deferred financing costs 13 38 57,987 93,962 Less current portion long-term debt 25,998 — Long-term debt $ 31,989 $ 93,962
Schedule of Debt Ratios	The ratios as of December 31, 2023 are shown in the following table: Required Level Actual Level Interest Coverage Ratio 3.00 to 1 (minimum) 16.17 Leverage Ratio 3.25 to 1 (maximum) 0.70

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Reconciliation of the Federal Statutory Income Tax Rate to the Company's Effective Tax Rate	A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows: Percent of Income before 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes - net of federal tax benefit 2.8 2.0 3.1 Foreign tax rate differential 1.5 0.6 1.3 Non-deductible expenses 0.4 0.4 0.4 Tax carryforward expiration — 2.5 — Changes in unrecognized tax benefits — ( 1.0 ) — Valuation allowances — ( 2.3 ) — Other 0.3 ( 0.3 ) ( 0.2 ) Effective tax rate for the year 26.0 % 22.9 % 25.6 %
Income (Loss) from Continuing Operations Before Income Taxes	Income before income taxes was attributable to the following sources: 2023 2022 2021 United States $ 55,553 $ 66,646 $ 36,203 Foreign 10,503 11,564 8,890 Totals $ 66,056 $ 78,210 $ 45,093
Income Tax Expense (Benefit) from Continuing Operations	Income tax expense consisted of the following: Year ended December 31, 2023 2022 2021 Current: Federal $ 11,296 $ 11,583 $ 4,901 State and local 2,237 1,739 1,439 Foreign 2,617 2,549 2,389 Total current provision 16,150 15,871 8,729 Deferred: Federal 617 1,675 2,534 State and local 62 230 345 Foreign 360 167 ( 53 ) Total deferred provision 1,039 2,072 2,826 Provision for income taxes $ 17,189 $ 17,943 $ 11,555
Significant Components of the Company's Deferred Taxes	Significant components of the Company’s deferred taxes as of December 31, 2023 and 2022 are as follows: 2023 2022 Deferred income tax assets Compensation accruals $ 2,487 $ 2,449 Inventory valuation 2,515 1,553 Allowance for uncollectible accounts 672 510 Non-deductible accruals 4,040 4,137 Operating lease liability 6,025 5,932 Finance lease liability 1,934 1,981 Other deductible non-goodwill intangibles 5,473 5,369 State deferred taxes — 32 Capital loss carryforwards 127 127 Net operating loss carryforwards 73 21 23,346 22,111 Valuation allowance ( 127 ) ( 127 ) 23,219 21,984 Deferred income tax liabilities Property, plant and equipment 12,208 10,508 Goodwill and indefinite-lived intangibles 10,254 9,438 Right of use asset - operating leases 5,878 5,832 Finance lease assets 1,820 1,906 State deferred taxes 18 — Other 1,492 1,679 31,670 29,363 Net deferred income tax liability $ ( 8,451 ) $ ( 7,379 )
Activity Related to the Company's Unrecognized Tax Benefits	The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2023 2022 2021 Balance at January 1 $ — $ 774 $ 774 Increases related to previous year tax positions — — — Reductions due to lapse of applicable statute of limitations — ( 774 ) — Balance at December 31 $ — $ — $ 774

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
Retirement Plans (Tables)	Dec. 31, 2023
Retirement Benefits [Abstract]
Net periodic pension cost of plan	Net periodic pension cost of the Plan for the years ended December 31, 2023, 2022 and 2021 was as follows: For the Year Ended December 31, 2023 2022 2021 Interest cost $ 233 $ 162 $ 151 Expected return on assets ( 144 ) ( 156 ) ( 193 ) Amortization of net loss 70 67 85 Net periodic pension cost $ 159 $ 73 $ 43
Reconciliation of changes in plan's projected benefit obligations and assets	The reconciliation of changes in the Plan’s projected benefit obligations and assets are as follows: December 31, 2023 2022 Change in benefit obligation: Projected benefit obligation at beginning of year $ 4,783 $ 6,298 Interest cost 233 162 Actuarial (gain) loss 84 ( 1,347 ) Benefits paid ( 334 ) ( 330 ) Projected benefit obligation at end of year $ 4,766 $ 4,783 Change in plan assets: Fair value of plan assets at beginning of year $ 4,599 $ 5,877 Actual return on plan assets 316 ( 1,148 ) Company contributions 50 200 Benefits paid ( 334 ) ( 330 ) Fair value of plan assets at end of year $ 4,631 $ 4,599 Funded status $ ( 135 ) $ ( 184 )
Assumptions used to determine the net periodic benefit cost and benefit obligations	The assumptions used to determine the Plan’s net periodic benefit cost and benefit obligations are as follows: December 31, 2023 2022 2021 Discount rate for net periodic pension cost 5.05 % 2.65 % 2.30 % Discount rate for benefit obligations 4.85 % 5.05 % 2.65 % Expected long-term return of plan assets 5.25 % 4.50 % 5.25 %
Weighted average asset allocations for plan	The weighted average asset allocations for the Plan at December 31, 2023 and 2022 were as follows: December 31, 2023 2022 U.S. equities securities 11 % 22 % U.S. debt securities 89 % 78 % 100 % 100 %
Benefit payments projected for the plan	Benefit payments projected for the Plan are as follows: 2024 $ 370 2025 370 2026 370 2027 370 2028 360 2029-2033 1,770

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2023
Leases [Abstract]
Schedule of Balances Included in Consolidated Statements of Financial Position Related to Leases	Amounts included in the Consolidated Statements of Financial Position related to leases were: December 31, December 31, Classification 2023 2022 Assets: Operating lease assets Right of use asset - operating leases $ 27,989 $ 28,908 Finance lease assets Property, plant and equipment, net 8,668 9,075 Total lease assets $ 36,657 $ 37,983 Liabilities: Current Operating lease liability - short-term $ 5,943 $ 6,177 Long-term Operating lease liability - long-term 22,352 22,786 Total operating lease liabilities 28,295 28,963 Current Finance lease liability - short-term 593 518 Long-term Finance lease liability - long-term 8,615 8,919 Total finance lease liabilities 9,208 9,437 Total lease liabilities $ 37,503 $ 38,400
Schedule of Lease Expense	The components of lease expense include: For the Year Ended December 31, Lease Cost Classification 2023 2022 2021 Operating lease cost (1) Cost of sales $ 6,193 $ 5,673 $ 5,095 Operating lease cost (1) Selling, general and administrative expenses 3,354 2,884 2,328 Finance lease cost Amortization expense Cost of sales 720 689 574 Interest expense on lease liabilities Interest expense, net 337 340 298 Total lease cost $ 10,604 $ 9,586 $ 8,295 (1) Includes short-term leases and variable lease costs, which are immaterial
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: For the Year Ended December 31, Supplemental Cash Flow Information 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,580 $ 6,941 $ 5,952 Operating cash flows from finance leases $ 337 $ 340 $ 298 Financing cash flows from finance leases $ 542 $ 500 $ 402 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases $ 6,143 $ 4,371 $ 7,438 Finance leases $ 313 $ — $ 10,339 Lease Term and Discount Rate December 31, 2023 December 31, 2022 Weighted-average remaining lease term (years): Operating leases 5.67 6.44 Finance leases 11.99 13.17 Weighted-average discount rate: Operating leases 4.7 % 3.6 % Finance leases 3.7 % 3.5 %
Maturity of Operating and Finance Lease Liabilities	Maturity of Lease Liabilities - As of December 31, 2023 Operating Leases Finance Leases Total 2024 $ 7,117 $ 920 $ 8,037 2025 6,163 924 7,087 2026 5,221 924 6,145 2027 4,388 945 5,333 2028 3,398 950 4,348 After 2028 5,749 6,708 12,457 Total lease payments 32,036 11,371 43,407 Less: interest ( 3,741 ) ( 2,163 ) ( 5,904 ) Present value of lease liabilities $ 28,295 $ 9,208 $ 37,503

Segments (Tables)

Segments (Tables)	12 Months Ended
Segments (Tables)	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Reporting Information by Segment	Total sales from foreign business units were approximately $ 46.1 million, $ 54.2 million, and $ 48.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. Export sales from the Company's U.S. operations were approximately $ 30.0 million, $ 31.7 million, and $ 29.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Sales made to customers in Canada accounted for approximately 4.4 % , 4.3 % and 4.6 % of total net sales in 2023, 2022 and 2021, respectively. There are no other individual foreign countries for which sales are material. Long-lived assets in foreign countries, primarily in Canada, consisted of property, plant and equipment, and were approximately $ 10.3 million and $ 10.4 million at December 31, 2023 and 2022, respectively. 2023 2022 2021 Net Sales Material Handling $ 555,259 $ 647,619 $ 564,068 Distribution 257,875 251,966 197,427 Inter-company sales ( 67 ) ( 38 ) ( 60 ) Total net sales $ 813,067 $ 899,547 $ 761,435 Operating income Material Handling (5) $ 100,088 $ 104,079 $ 62,187 Distribution (2) (3) 10,967 15,862 15,428 Corporate (1) (3) (4) ( 38,650 ) ( 36,000 ) ( 28,314 ) Total operating income 72,405 83,941 49,301 Interest expense, net ( 6,349 ) ( 5,731 ) ( 4,208 ) Income before income taxes $ 66,056 $ 78,210 $ 45,093 Total Assets Material Handling $ 383,734 $ 385,722 $ 370,499 Distribution 112,323 119,652 88,757 Corporate 45,574 37,260 25,293 Total assets $ 541,631 $ 542,634 $ 484,549 Capital Additions, Net Material Handling $ 20,452 $ 22,528 $ 17,173 Distribution 1,666 705 402 Corporate 737 1,059 292 Total capital additions, net $ 22,855 $ 24,292 $ 17,867 Depreciation and Amortization Material Handling $ 18,917 $ 17,814 $ 17,803 Distribution 3,197 2,889 2,208 Corporate (6) 985 954 874 Total depreciation and amortization $ 23,099 $ 21,657 $ 20,885 (1) The Company recognized $ 3.2 million, $ 1.4 million and $ 0.7 million of expense to the estimated environmental reserve, net of expected insurance recoveries in the years ended December 31, 2023, 2022 and 2021, respectively, as described in Note 9. Environmental charges are not included in segment results and are shown with Corporate. (2) In the year ended December 31, 2022, the Company recognized a $ 0.6 million impairment loss on an investment in a legacy joint venture within the Distribution Segment as described in Note 1. (3) In the year ended December 31, 2023, the Company recognized $ 0.7 million of executive severance, of which $ 0.4 million was recognized in the Distribution Segment related to severance and $ 0.3 million was recognized in Corporate related to charges for acceleration of stock compensation. (4) Corporate includes $ 1.3 million of consulting costs to improve the Company's capabilities to screen and execute large acquisitions in addition to $ 2.6 million of acquisition related costs associated with the Signature acquisition, as described in Note 15, for the year ended December 31, 2023. (5) In the year ended December 31, 2023, the Company recognized a $ 10 million recovery of legal costs within the Material Handling Segment related to a settlement agreement with one of its insurers, as described in Note 9. $ 6.7 million of these recovered costs were originally incurred prior to 2023. (6) Corporate depreciation and amortization includes amortization of deferred financing costs of $ 0.3 million, $ 0.4 million and $ 0.5 million in the years ended December 31, 2023, 2022 and 2021, respectively.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration of Credit Risk
Expense for bad debts	$ 1,808	$ 540
Deductions from allowance for doubtful accounts, net of recoveries	$ 1,100	400	$ 900
Inventories
Percentage of LIFO Inventory	35%
Cost valuation of inventory if FIFO had been used exclusively	$ 8,600	8,600
LIFO inventories increased (decreased) cost of sales	200	800	100
Property, Plant and Equipment
Depreciation expense	16,200	15,000	15,200
Cash and Cash Equivalents
Increased (reduced) cash used for capital expenditures	700	(600)	(200)
Investments [Abstract]
Pre-tax impairment loss	600
Selling Expense [Member]
Concentration of Credit Risk
Expense for bad debts	$ 1,800	500	$ 700
Maximum [Member] \| Performance-Based Restricted Stock Units [Member]
Stock Based Compensation
Percentage of established target performance criteria	250%
Maximum [Member] \| Sales [Member] \| Customer Concentration Risk [Member]
Concentration of Credit Risk
Concentration risk percentage	10%
Minimum [Member] \| Performance-Based Restricted Stock Units [Member]
Stock Based Compensation
Percentage of established target performance criteria	0%
Estimate of Fair Value, Fair Value Disclosure [Member] \| Less unamortized deferred financing fees [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Notes payable, fair value disclosure	$ 37,800	$ 37,400

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Balance at January 1	$ 2,273	$ 2,173
Provision for expected credit loss, net of recoveries	1,808	540
Write-offs and other	(1,092)	(440)
Balance at December 31	$ 2,989	$ 2,273

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Determination Cost of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished and in-process products	$ 53,382	$ 54,991
Raw materials and supplies	37,462	38,360
Inventory net	$ 90,844	$ 93,351

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of the Assets (Details)	Dec. 31, 2023
Minimum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	20 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	3 years
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	5 years
Maximum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	40 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	10 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	10 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Property Plant and Equipment by Major Assets Class (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment, Net [Abstract]
Land	$ 6,546	$ 6,907
Buildings and leasehold improvements	63,871	60,982
Machinery and equipment	326,650	311,822
Property, Plant and Equipment, at cost	397,067	379,711
Less allowances for depreciation and amortization	(289,134)	(278,145)
Property, plant and equipment, net	$ 107,933	$ 101,566

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 256,427	$ 209,325	$ 189,100
Total other comprehensive income	978	(2,392)	372
Ending balance	292,800	256,427	209,325
Foreign Currency [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(16,410)	(13,935)	(13,974)
Other comprehensive income (loss) before reclassifications	859	(2,475)	39
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0
Total other comprehensive income	859	(2,475)	39
Ending balance	(15,551)	(16,410)	(13,935)
Defined Benefit Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,383)	(1,466)	(1,799)
Other comprehensive income (loss) before reclassifications	66	33	269
Amounts reclassified from accumulated other comprehensive income, net of tax	53	50	64
Total other comprehensive income	119	83	333
Ending balance	(1,264)	(1,383)	(1,466)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(17,793)	(15,401)	(15,773)
Other comprehensive income (loss) before reclassifications	925	(2,442)	308
Amounts reclassified from accumulated other comprehensive income, net of tax	53	50	64
Total other comprehensive income	978	(2,392)	372
Ending balance	$ (16,815)	$ (17,793)	$ (15,401)

Summary of Significant Accou_10

Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification from AOCI, Current Period, Tax [Abstract]
Amounts reclassified from accumulated other comprehensive income, tax	$ 18	$ 17	$ 21

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue by Major Market (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Net sales	$ 813,067	$ 899,547	$ 761,435
Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	555,259	647,619	564,068
Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	257,875	251,966	197,427
Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	(67)	(38)	(60)
Consumer [Member]
Disaggregation Of Revenue [Line Items]
Net sales	92,380	113,339	116,707
Consumer [Member] \| Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	92,380	113,339	116,707
Consumer [Member] \| Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Consumer [Member] \| Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Vehicle [Member]
Disaggregation Of Revenue [Line Items]
Net sales	123,155	165,139	170,322
Vehicle [Member] \| Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	123,155	165,139	170,322
Vehicle [Member] \| Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Vehicle [Member] \| Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Food and Beverage [Member]
Disaggregation Of Revenue [Line Items]
Net sales	118,063	125,111	83,817
Food and Beverage [Member] \| Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	118,063	125,111	83,817
Food and Beverage [Member] \| Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Food and Beverage [Member] \| Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Industrial [Member]
Disaggregation Of Revenue [Line Items]
Net sales	221,594	243,992	193,162
Industrial [Member] \| Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	221,661	244,030	193,222
Industrial [Member] \| Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Industrial [Member] \| Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	(67)	(38)	(60)
Auto Aftermarket [Member]
Disaggregation Of Revenue [Line Items]
Net sales	257,875	251,966	197,427
Auto Aftermarket [Member] \| Operating Segments [Member] \| Material Handling [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0
Auto Aftermarket [Member] \| Operating Segments [Member] \| Distribution [Member]
Disaggregation Of Revenue [Line Items]
Net sales	257,875	251,966	197,427
Auto Aftermarket [Member] \| Inter-company [Member]
Disaggregation Of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Balances Included in Consolidated Statements of Financial Position Related to Revenue Recognition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade Accounts Receivable [Member]
Disaggregation Of Revenue [Line Items]
Returns, discounts and other allowances	$ (1,200)	$ (986)
Inventories, net [Member]
Disaggregation Of Revenue [Line Items]
Right of return asset	432	350
Other Current Liabilities [Member]
Disaggregation Of Revenue [Line Items]
Customer deposits	(2,017)	(5,896)
Accrued rebates	$ (4,441)	$ (4,711)

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Type of Cost, Good or Service [Extensible Enumeration]	us-gaap:ShippingAndHandlingMember	us-gaap:ShippingAndHandlingMember	us-gaap:ShippingAndHandlingMember
Cost of sales	$ 553,981	$ 616,181	$ 550,014
Selling, General and Administrative Expenses [Member]
Disaggregation Of Revenue [Line Items]
Cost of sales	10,800	13,100	10,400
Cost of Sales [Member]
Disaggregation Of Revenue [Line Items]
Cost of sales	$ 13,000	$ 10,500	$ 7,300

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Millions				1 Months Ended
	May 31, 2022	Jul. 30, 2021	Nov. 10, 2020	Feb. 28, 2023	Nov. 30, 2022
Mohawk [Member]
Business Acquisition [Line Items]
Purchase price of acquisition	$ 27.8
Net of cash acquired	1.1
Working capital adjustment	$ 3.5			$ 0.2	$ 3.3
Trilogy Plastics, Inc. [Member]
Business Acquisition [Line Items]
Purchase price of acquisition		$ 34.5
Working capital adjustment		$ 0.3
Elkhart Plastics [Member]
Business Acquisition [Line Items]
Purchase price of acquisition			$ 63.8
Working capital adjustment			$ 1.2

Acquisitions - Summary of Alloc

Acquisitions - Summary of Allocation of Purchase Price Based on Estimated Fair Value of Assets Acquired and Liabilities Assumed - Mohawk (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	May 31, 2022	Dec. 31, 2021
Assets acquired:
Goodwill		$ 95,392	$ 95,157		$ 88,778
Mohawk [Member]
Assets acquired:
Accounts receivable				$ 10,595
Inventories				8,193
Prepaid expenses				104
Other assets - long term				30
Property, plant and equipment				1,171
Right of use asset - operating leases				1,367
Intangible assets				7,810
Goodwill				7,082
Assets acquired				36,352
Liabilities assumed:
Accounts payable				5,805
Accrued expenses				1,344
Operating lease liability - short term				399
Operating lease liability - long term				968
Total liabilities assumed				8,516
Net acquisition cost				27,836
Mohawk [Member] \| Initial Allocation of Consideration [Member]
Assets acquired:
Accounts receivable				10,137
Inventories				8,209
Prepaid expenses				104
Other assets - long term				30
Property, plant and equipment				1,432
Right of use asset - operating leases				1,367
Intangible assets				7,720
Goodwill				7,485
Assets acquired				36,484
Liabilities assumed:
Accounts payable				5,996
Accrued expenses				1,414
Operating lease liability - short term				399
Operating lease liability - long term				968
Total liabilities assumed				8,777
Net acquisition cost				27,707
Mohawk [Member] \| Measurement Period Adjustments [Member]
Assets acquired:
Accounts receivable	[1]			458
Inventories	[1]			(16)
Prepaid expenses	[1]			0
Other assets - long term	[1]			0
Property, plant and equipment	[1]			(261)
Right of use asset - operating leases	[1]			0
Intangible assets	[1]			90
Goodwill	[1]			(403)
Assets acquired	[1]			(132)
Liabilities assumed:
Accounts payable	[1]			(191)
Accrued expenses	[1]			(70)
Operating lease liability - short term	[1]			0
Operating lease liability - long term	[1]			0
Total liabilities assumed	[1]			(261)
Net acquisition cost	[1]			$ 129

[1] The Company's preliminary purchase price allocation changed due to additional information and further analysis.

Acquisitions - Summary of Intan

Acquisitions - Summary of Intangible Assets - Mohawk (Details) - Mohawk [Member] $ in Thousands	May 31, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortizable intangible assets, Fair value	$ 7,810
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortizable intangible assets, Fair value	$ 5,500
Weighted Average Estimated Useful Life	12 years
Trade Name [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortizable intangible assets, Fair value	$ 2,000
Weighted Average Estimated Useful Life	5 years
Non-competition Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortizable intangible assets, Fair value	$ 310
Weighted Average Estimated Useful Life	5 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) ReportingUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Roll Forward]
Impairment of goodwill and indefinite-lived intangible assets	$ 0	$ 0	$ 0
Number of reporting units \| ReportingUnit	6
Amortization of Intangible Assets	$ 6,600,000	$ 6,200,000	$ 5,200,000
Estimated amortization expense, 2024	5,400,000
Estimated amortization expense, 2025	3,900,000
Estimated amortization expense, 2026	3,200,000
Estimated amortization expense, 2027	2,900,000
Estimated amortization expense, 2028	$ 2,700,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Change in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 95,157	$ 88,778
Acquisition		7,485
Purchase accounting adjustment		(403)
Foreign currency translation	235	(703)
Ending balance	95,392	95,157
Distribution [Member]
Goodwill [Roll Forward]
Beginning balance	14,730	7,648
Acquisition		7,485
Purchase accounting adjustment		(403)
Foreign currency translation	0	0
Ending balance	14,730	14,730
Material Handling [Member]
Goodwill [Roll Forward]
Beginning balance	80,427	81,130
Acquisition		0
Purchase accounting adjustment		0
Foreign currency translation	235	(703)
Ending balance	$ 80,662	$ 80,427

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite and Indefinite Lived Intangible Assets [Line Items]
Gross	$ 133,774	$ 133,379
Accumulated amortization	(88,645)	(81,627)
Net	45,129	51,752
Trade Names - Indefinite Lived [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 9,782	9,782
Trade Names [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (years)	6 years
Gross	$ 10,267	10,267
Accumulated amortization	(3,417)	(2,142)
Net	$ 6,850	8,125
Customer Relationships [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (years)	12 years
Gross	$ 75,505	75,110
Accumulated amortization	(48,790)	(45,621)
Net	$ 26,715	29,489
Technology [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (years)	7 months 6 days
Gross	$ 24,980	24,980
Accumulated amortization	(23,713)	(21,441)
Net	$ 1,267	3,539
Non-competition Agreements [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (years)	1 year 8 months 12 days
Gross	$ 1,510	1,510
Accumulated amortization	(995)	(693)
Net	$ 515	817
Patents [Member]
Finite and Indefinite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (years)	0 years
Gross	$ 11,730	11,730
Accumulated amortization	(11,730)	(11,730)
Net	$ 0	$ 0

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Provision for loss on notes receivable	$ 1,808	$ 540

Net Income Per Common Share (De

Net Income Per Common Share (Details) - shares	12 Months Ended
Net Income Per Common Share (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted average common shares outstanding basic	36,744,560	36,411,389	36,138,571
Dilutive effect of stock options and restricted stock (in shares)	351,008	379,450	220,398
Weighted average common shares outstanding diluted (in shares)	37,095,568	36,790,839	36,358,969

Net Income Per Common Share - A

Net Income Per Common Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of net earnings or loss per common share	101,406	114,540	26,814

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
Restructuring - Additional Information (Details) - USD ($)	Jan. 31, 2019	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost And Reserve [Line Items]
Proceeds from sale of property, plant and equipment			$ 258,000	$ 1,537,000	$ 3,336,000
Gain on sale of property, plant and equipment			195,000	667,000	1,382,000
Restructuring charges			1,000,000		900,000
Severance Costs			700,000
Accrued restructuring charges			0	0
Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges				700,000
Selling, General and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
General Severance Charges			$ 1,500,000
Ameri-Kart [Member]
Restructuring Cost And Reserve [Line Items]
Gain on sale of property, plant and equipment				$ 300,000
Non cash inventory write-off					$ 100,000
INDIA \| Manufacturing and Distribution [Member]
Restructuring Cost And Reserve [Line Items]
Facility lease period			15 years
Sale leaseback transaction term of contract	5 years
Proceeds from sale of property, plant and equipment		$ 2,800,000
Gain on sale of property, plant and equipment		$ 1,000,000
Restructuring charges			$ 2,200,000

Other Liabilities - Schedule of

Other Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Customer deposits and accrued rebates	$ 6,458	$ 10,607
Dividends payable	5,900	5,722
Accrued litigation, claims and professional fees	2,868	596
Current portion of environmental reserves	$ 8,205	$ 3,284
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current
Other accrued expenses	$ 5,041	$ 6,171
Other current liabilities, Total	$ 28,472	$ 26,380

Other Liabilities - Schedule _2

Other Liabilities - Schedule of Other Liabilities (Long-term) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Environmental reserves	$ 9,357	$ 13,078
Supplemental executive retirement plan liability	548	824
Pension liability	135	184
Other long-term liabilities	2,068	1,184
Other liabilities (long-term), Total	$ 12,108	$ 15,270

Stock Compensation - Additional

Stock Compensation - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 6.7	$ 7.4	$ 3.2
Total unrecognized compensation cost related to non-vested share based compensation arrangements	$ 7.4
Unrecognized compensation cost period for recognition	3 years
Options granted	0	0	0
Stock options expired or forfeited	43,729	588	30,094
The total intrinsic value of all stock options exercised	$ 0.4	$ 0.3	$ 1
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of expiration, term		10 years
Restricted Stock Units [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	1 year
Restricted Stock Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	3 years
Performance-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted during period	504,871
Performance-Based Restricted Stock Units [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of established target performance criteria	0%
Performance-Based Restricted Stock Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of established target performance criteria	250%
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant under plan (in shares)	5,126,950			0
2021 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant under plan (in shares)				2,000,000

Stock Compensation - Summary of

Stock Compensation - Summary of Stock Option Activity for the Period (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options Granted (in shares)	0	0	0
Options Exercised, Shares (in shares)	62,551	83,102	192,504
Outstanding at December 31, 2022	224,882	308,572
Options Exercised, Shares (in shares)	(62,551)	(83,102)	(192,504)
Cancelled or forfeited (in shares)	(43,729)
Outstanding at December 31, 2023	118,602	224,882	308,572
Exercisable at December 31, 2023	118,602	224,882	297,295
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options Exercised, Average Exercise Price (in dollars per share)	$ 16.99
Outstanding, Average Price (in dollars per share)	18.82
Cancelled or forfeited, average exercise price (in dollars per share)	17.3
Outstanding, Average Price (in dollars per share)	20.35	$ 18.82
Exercisable, Average Exercise Price (in dollars per share)	$ 20.35	18.82	$ 18.64
Outstanding, Weighted Average Life	1 year 10 days
Exercisable, Weighted Average Life	1 year 10 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options Exercised, Average Exercise Price (in dollars per share)	$ 11.62	12.96	11.62
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options Exercised, Average Exercise Price (in dollars per share)	$ 18.69	$ 21.3	$ 21.3

Stock Compensation - Options ou

Stock Compensation - Options outstanding and exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Outstanding (in shares)	118,602	224,882	308,572
Exercise price range, minimum (in dollars per share)	$ 11.62	$ 11.62	$ 11.62
Exercise price range, maximum (in dollars per share)	$ 21.3	$ 21.3	$ 21.3
Exercisable (in shares)	118,602	224,882	297,295
Weighted average exercise price (in dollars per share)	$ 20.35	$ 18.82	$ 18.64

Stock Compensation - Summary _2

Stock Compensation - Summary of Combined Restricted Stock Units Including Performance Based Restricted Stock Units and Restricted Stock Activity (Details) - Restricted Stock Units Including Performance Based Restricted Stock Units and Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested (in shares)	705,734
Granted (in shares)	503,327
Vested (in shares)	(293,153)
Canceled or forfeited (in shares)	(70,197)
Unvested (in shares)	845,711
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 19.79
Vested, Average Grant Date Fair Value (in dollars per share) \| $ / shares	14.57
Canceled or Forfeited, Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 19.93

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)			3 Months Ended	12 Months Ended				147 Months Ended
Contingencies - Additional Information (Details) - USD ($)	Feb. 14, 2023	Dec. 11, 2018	Dec. 31, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2016	Dec. 31, 2023	Feb. 29, 2024
Loss Contingencies [Line Items]
Other current liabilities				$ 28,472,000	$ 26,380,000			$ 28,472,000
Other liabilities				12,108,000	15,270,000			12,108,000
New Idria Mercury Mine [Member]
Loss Contingencies [Line Items]
Financial assurance required to be provided to EPA to secure performance			$ 2,000,000
Expected insurance recoveries				7,200,000				7,200,000
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] \| Natural Resource Damage Claim [Member]
Loss Contingencies [Line Items]
Payments made				100,000
Total reserve				4,400,000				4,400,000
Other current liabilities				300,000				300,000
Other liabilities				4,100,000				4,100,000
Expense recognized				0		$ 0
Revised estimated project cost					9,000,000
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] \| Natural Resource Damage Claim [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Original Estimated Project Costs							$ 3,300,000
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] \| Natural Resource Damage Claim [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Original Estimated Project Costs							$ 4,400,000
Patent Infringement [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable, Proceeds				3,200,000
Expected insurance recoveries				6,800,000				6,800,000
Defense costs incurred		$ 13,300,000		3,600,000	3,100,000	$ 3,200,000
Defence costs related to insurance coverage				10,000,000
Patent Infringement [Member] \| Subsequent Event [Member]
Loss Contingencies [Line Items]
Insurance recoveries receivable									$ 6,800,000
Scepter Company [Member] \| Ms.McCartney [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 30,000
Accounts Receivable [Member] \| New Idria Mercury Mine [Member]
Loss Contingencies [Line Items]
Expected insurance recoveries				3,600,000				3,600,000
Other long-term Member \| New Idria Mercury Mine [Member]
Loss Contingencies [Line Items]
Expected insurance recoveries				$ 3,600,000				3,600,000
Selling, General and Administrative Expenses [Member] \| New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] \| Natural Resource Damage Claim [Member]
Loss Contingencies [Line Items]
Loss contingency, Loss in period					$ 3,000,000
Pending Litigation [Member] \| New Idria Mercury Mine [Member] \| EPA Notice Letter [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable, Proceeds								4,000,000
Loss contingency, Loss in period								22,000,000
Payments made								$ 10,800,000

Contingencies - Schedule of Con

Contingencies - Schedule of Contingencies Reserve Balance (Details) - New Idria Mercury Mine [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Loss Contingencies [Line Items]
Beginning reserve balance		$ 11,855	[1]	$ 8,213	[1]	$ 7,186
Changes in estimated environmental liability		6,500		4,400		700
Payments made	[2],[3]	(5,173)		(758)		327
Ending reserve balance	[1]	13,182		11,855		8,213
Beginning receivable balance		6,000	[4]	0	[4]	0
Changes in estimated insurance recovery		3,300		6,000		0
Insurance recovery reimbursements		(2,055)		0		0
Ending receivable balance	[4]	$ 7,245		$ 6,000		$ 0

[1] (2) As of December 31, 2023 , Buckhorn has a total ending reserve balance of $ 13.2 million related to the New Idria Mine, of which $ 7.9 million is classified in Other current liabilities and $ 5.3 million in Other liabilities (long-term). (4) Payments made for the year ended December 31, 2023 include a $ 1.9 million payment related to a settlement agreement with the EPA to resolve the past costs claim, which Buckhorn paid in the first quarter of 2023. (1) Payments made in the years ended December 31, 2022 and December 31, 2021 were offset by insurance refunds of $ 0.8 million and $ 0.7 million, respectively. In the fourth quarter of 2022, Buckhorn reached an agreement with respect to certain insurance coverage related to defense costs for which recovery of accrued costs are recorded as a receivable to the extent such recovery is determined to be probable under this agreement. (3) As of December 31, 2023 , Buckhorn has a total receivable balance related to the probable insurance recovery of $ 7.2 million, of which $ 3.6 million is classified in Other accounts receivable and $ 3.6 million is classified in Other (long-term).

Contingencies - Schedule of C_2

Contingencies - Schedule of Contingencies Reserve Balance (Paranthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
EPA Notice Letter [Member]
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies revision in estimates	$ 1,900
New Idria Mercury Mine [Member]
Loss Contingencies [Line Items]
Amount of insurance refunds			$ 800		$ 700
Accrual for Environmental Loss Contingencies	13,182	[1]	$ 11,855	[1]	$ 8,213	[1]	$ 7,186
Expected insurance recoveries	7,200
New Idria Mercury Mine [Member] \| Other Current Liabilities [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 7,900
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current
New Idria Mercury Mine [Member] \| Other Liabilities [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 5,300
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
New Idria Mercury Mine [Member] \| Other Accounts Receivable [Member]
Loss Contingencies [Line Items]
Expected insurance recoveries	$ 3,600
New Idria Mercury Mine [Member] \| Other long-term Member
Loss Contingencies [Line Items]
Expected insurance recoveries	$ 3,600

[1] (2) As of December 31, 2023 , Buckhorn has a total ending reserve balance of $ 13.2 million related to the New Idria Mine, of which $ 7.9 million is classified in Other current liabilities and $ 5.3 million in Other liabilities (long-term).

Long-Term Debt and Loan Agree_3

Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term Debt	$ 58,000	$ 94,000
Less unamortized deferred financing fees	13	38
Long-term Debt, net of deferred financing costs	57,987	93,962
Less current portion long-term debt	25,998	0
Long-term debt	31,989	93,962
Loan Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt	20,000	56,000
5.25% Senior Unsecured Notes due January 15, 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	11,000	11,000
5.30% Senior Unsecured Notes due January 15, 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	15,000	15,000
5.45% Senior Unsecured Notes due January 15, 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 12,000	$ 12,000

Long-Term Debt and Loan Agree_4

Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2023
5.25% Senior Unsecured Notes due January 15, 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.25%
Debt instrument maturity date	Jan. 15, 2024
5.30% Senior Unsecured Notes due January 15, 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.30%
Debt instrument maturity date	Jan. 15, 2024
5.45% Senior Unsecured Notes due January 15, 2026 [Member]
Debt Instrument [Line Items]
Interest rate	5.45%
Debt instrument maturity date	Jan. 15, 2026

Long-Term Debt and Loan Agree_5

Long-Term Debt and Loan Agreements - Additional Information (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Jan. 12, 2024	Mar. 12, 2021	Mar. 31, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 29, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Line of credit facility, interest rate description				Borrowings under the Loan Agreement bear interest at the Term SOFR, RFR, EURIBOR and CDOR-based borrowing rates. Amounts borrowed under the credit facility are secured by pledges of stock of certain of the Company’s foreign subsidiaries and guaranties of certain of its domestic subsidiaries.
Loan agreement amendment description				On September 29, 2022, the Company entered into a Seventh Amended and Restated Loan Agreement (the “Seventh Amendment”), which amended the Sixth Amended and Restated Loan Agreement (the "Sixth Amendment"), dated March 12, 2021. The Seventh Amendment, among other things, extended the maturity date to September 2027 from March 2024.
Loan maturity period				2027-09
Long-term Debt				$ 58,000	$ 94,000
Notes outstanding				57,987	93,962
Long-term Debt				31,989	93,962
Repayments of long-term debt				0	0	$ 40,000
Amortization expense of deferred financing costs				313	441	463
Other long-term Member
Debt Instrument [Line Items]
Deferred financing fees							$ 900	$ 1,100
Interest Expense [Member]
Debt Instrument [Line Items]
Amortization expense of deferred financing costs				300	400	$ 500
5.25% Senior Unsecured Notes due January 15, 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt				$ 11,000	11,000
Interest rate				5.25%
Debt instrument maturity date				Jan. 15, 2024
5.25% Senior Unsecured Notes due January 15, 2024 [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ 11,000
5.45% Senior Unsecured Notes due January 15, 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt				$ 12,000	12,000
Interest rate				5.45%
Debt instrument maturity date				Jan. 15, 2026
5.45% Senior Unsecured Notes due January 15, 2026 [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ 15,000
Senior unsecured notes matured on january 15, 2026
Debt Instrument [Line Items]
Long-term Debt				$ 12,000
Debt instrument maturity date				Jan. 15, 2026
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Notes outstanding				$ 38,000
Senior Unsecured Notes [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Long-term Debt				$ 11,000
Interest rate				5.25%
Debt instrument maturity date				Jan. 15, 2024
Senior Unsecured Notes [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Long-term Debt				$ 15,000
Interest rate				5.45%
Debt instrument maturity date				Jan. 15, 2026
Loan Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit			$ 200,000					$ 250,000
Loan maturity period			2022-03	2024-03
Deferred financing fees				$ 1,100	$ 1,400
Remaining amount available under the line of credit				224,300
Letters of credit				$ 5,700
Weighted average interest rate during period				6.86%	4.87%	4.56%
Seventh and Sixth Amendment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit				$ 250,000
Loan maturity period		2024-03

Long-Term Debt and Loan Agree_6

Long-Term Debt and Loan Agreements - Schedule of Debt Ratios (Details) - Unsecured Senior Notes [Member]	Dec. 31, 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Coverage Ratio, Actual	16.17%
Debt Instrument, Leverage Ratio, Actual	0.70%
Debt Instrument, Covenant, Interest Coverage Ratio Required, Minimum	3%
Debt Instrument, Covenant, Leverage Ratio Required, Maximum	3.25%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018
Income Taxes [Line Items]
Effective tax rate for the year	26%	22.90%	25.60%
Provision and related deferred tax liability on earnings from subsidiary				$ 600
Deferred tax assets, operating loss carryforwards	$ 127	$ 127
Deferred tax assets, valuation allowance	127	127
Unrecognized tax benefits that would impact effective tax rate	$ 0	$ 0	$ 800
Income tax examination, description	The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of December 31, 2023, the Company is no longer subject to U.S. Federal examinations by tax authorities for tax years before 2020.
Non-U.S [Member]
Income Taxes [Line Items]
Income tax examination for tax years	2018 2019 2020 2021 2022

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate to the Company's Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal income tax rate	21%	21%	21%
State income taxes - net of federal tax benefit	2.80%	2%	3.10%
Foreign tax rate differential	1.50%	0.60%	1.30%
Non-deductible expenses	0.40%	0.40%	0.40%
Tax carryforward expiration	0%	2.50%	0%
Changes in unrecognized tax benefits	0%	(1.00%)	0%
Valuation allowances	0%	(2.30%)	0%
Other	0.30%	(0.30%)	(0.20%)
Effective tax rate for the year	26%	22.90%	25.60%

Income Taxes - Income (Loss) fr

Income Taxes - Income (Loss) from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 55,553	$ 66,646	$ 36,203
Foreign	10,503	11,564	8,890
Income before income taxes	$ 66,056	$ 78,210	$ 45,093

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 11,296	$ 11,583	$ 4,901
Foreign	2,617	2,549	2,389
State and local	2,237	1,739	1,439
Total current provision	16,150	15,871	8,729
Deferred
Federal	617	1,675	2,534
State and local	62	230	345
Foreign	360	167	(53)
Total deferred provision	1,039	2,072	2,826
Provision for income taxes	$ 17,189	$ 17,943	$ 11,555

Income Taxes - Significant Comp

Income Taxes - Significant Components of the Company's Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets
Compensation accruals	$ 2,487	$ 2,449
Inventory valuation	2,515	1,553
Allowance for uncollectible accounts	672	510
Non-deductible accruals	4,040	4,137
Operating lease liability	6,025	5,932
Finance lease liability	1,934	1,981
Other deductible non-goodwill intangibles	5,473	5,369
State deferred taxes	0	32
Capital loss carryforwards	127	127
Net operating loss carryforwards	73	21
Deferred tax assets, gross	23,346	22,111
Valuation allowance	(127)	(127)
Deferred Tax Assets, Net of Valuation Allowance	23,219	21,984
Deferred income tax liabilities
Property, plant and equipment	12,208	10,508
Goodwill and indefinite-lived intangibles	10,254	9,438
Right of use asset - operating leases	5,878	5,832
Finance lease assets	1,820	1,906
State deferred taxes	18	0
Other	1,492	1,679
Deferred tax liabilities, gross	31,670	29,363
Net deferred income tax liability	$ (8,451)	$ (7,379)

Income Taxes - Activity Related

Income Taxes - Activity Related to the Company's Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 0	$ 774	$ 774
Increases related to previous year tax positions	0	0	0
Reductions due to lapse of applicable statute of limitations	0	(774)	0
Balance at December 31	$ 0	$ 0	$ 774

Retirement Plans - Net Periodic

Retirement Plans - Net Periodic Pension Cost of Plan (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 233	$ 162	$ 151
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Nonoperating, Net	Interest Income (Expense), Nonoperating, Net	Interest Income (Expense), Nonoperating, Net
Expected return on assets	$ (144)	$ (156)	$ (193)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Assets	Assets	Assets
Amortization of net loss	$ 70	$ 67	$ 85
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Depreciation	Depreciation	Depreciation
Net periodic pension cost	$ 159	$ 73	$ 43

Retirement Plans - Reconciliati

Retirement Plans - Reconciliation of Changes in Plan's Projected Benefit Obligations and Assets (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in benefit obligation:
Projected benefit obligation at beginning of year	$ 4,783	$ 6,298
Interest cost	233	162	$ 151
Actuarial (gain) loss	84	(1,347)
Benefits paid	(334)	(330)
Projected benefit obligation at end of year	4,766	4,783	6,298
Change in plan assets:
Fair value of plan assets at beginning of year	4,599	5,877
Actual return on plan assets	316	(1,148)
Company contributions	50	200
Benefits paid	(334)	(330)
Fair value of plan assets at end of year	4,631	4,599	$ 5,877
Funded status	$ (135)	$ (184)

Retirement Plans - Additional I

Retirement Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Redemption fees for mutual fund's net asset value	$ 0
Executive Officer [Member] \| SERP [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Discount rate for benefit obligations	4.90%	5.10%
Accrued compensation	$ 900	$ 1,200
401K Plan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Recognized expense	4,500	4,200	$ 3,400
Mutual Funds [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Fair value of plan assets	500	1,000
Pooled Separate Accounts [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Fair value of plan assets	$ 4,100	$ 3,600

Retirement Plans - Assumptions

Retirement Plans - Assumptions Used to Determine the Net Periodic Benefit Cost and Benefit Obligations (Details) - Pension Plans, Defined Benefit [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Discount rate for net periodic pension cost	5.05%	2.65%	2.30%
Discount rate for benefit obligations	4.85%	5.05%	2.65%
Expected long-term return of plan assets	5.25%	4.50%	5.25%

Retirement Plans - Weighted Ave

Retirement Plans - Weighted Average Asset Allocations for Plan (Details) - Pension Plans, Defined Benefit [Member]	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average asset allocations	100%	100%
U.S. Equities securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average asset allocations	11%	22%
U.S. Debt securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average asset allocations	89%	78%

Retirement Plans - Benefit Paym

Retirement Plans - Benefit Payments Projected for the Plan (Details) - Pension Plans, Defined Benefit [Member] $ in Thousands	Dec. 31, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 370
2025	370
2026	370
2027	370
2028	360
2029-2033	$ 1,770

Leases - Additional Information

Leases - Additional Information (Details)	12 Months Ended
Leases - Additional Information (Details)	Dec. 31, 2023
Lessee Lease Description [Line Items]
Lessee, operating lease, renewal term	5 years
Operating lease, option to terminate	Certain of these leases include options to extend the lease for up to five years, and some include options to terminate the lease early.
Minimum [Member]
Lessee Lease Description [Line Items]
Facility lease period	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Facility lease period	12 years

Leases - Summary of Amounts Inc

Leases - Summary of Amounts Included in the Consolidated Statements of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Operating lease assets	$ 27,989	$ 28,908
Finance lease assets	$ 8,668	$ 9,075
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total lease assets	$ 36,657	$ 37,983
Liabilities:
Current	5,943	6,177
Long-term	22,352	22,786
Total operating lease liabilities	28,295	28,963
Current	593	518
Long-term	8,615	8,919
Total finance lease liabilities	9,208	9,437
Total lease liabilities	$ 37,503	$ 38,400

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Total lease cost		$ 10,604	$ 9,586	$ 8,295
Cost of Sales [Member]
Lessee Lease Description [Line Items]
Total operating lease cost	[1]	6,193	5,673	5,095
Amortization expense		720	689	574
Selling, General and Administrative Expenses [Member]
Lessee Lease Description [Line Items]
Total operating lease cost	[1]	3,354	2,884	2,328
Interest Expense, Net [Member]
Lessee Lease Description [Line Items]
Interest expense on lease liabilities		$ 337	$ 340	$ 298

[1] Includes short-term leases and variable lease costs, which are immaterial

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 7,580	$ 6,941	$ 5,952
Operating cash flows from finance leases	337	340	298
Financing cash flows from finance leases	542	500	402
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	6,143	4,371	7,438
Finance leases	$ 313	$ 0	$ 10,339

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (years), operating leases	5 years 8 months 1 day	6 years 5 months 8 days
Weighted-average remaining lease term (years), finance leases	11 years 11 months 26 days	13 years 2 months 1 day
Weighted-average discount rate, operating leases	4.70%	3.60%
Weighted-average discount rate, finance leases	3.70%	3.50%

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating And Finance Lease Liability Payments Due [Abstract]
Operating Leases, 2024	$ 7,117
Operating Leases, 2025	6,163
Operating Leases, 2026	5,221
Operating Leases, 2027	4,388
Operating Leases, 2028	3,398
Operating Leases, After 2028	5,749
Total operating lease payments	32,036
Less: interest	(3,741)
Present value of operating lease liabilities	28,295	$ 28,963
Finance Leases, 2024	920
Finance Leases, 2025	924
Finance Leases, 2026	924
Finance Leases, 2027	945
Finance Leases, 2028	950
Finance Leases, After 2028	6,708
Total finance lease payments	11,371
Less: interest	(2,163)
Present value of finance lease liabilities	9,208	$ 9,437
2024	8,037
2025	7,087
2026	6,145
2027	5,333
2028	4,348
After 2028	12,457
Total lease payments	43,407
Less: interest	(5,904)
Present value of lease liabilities	$ 37,503

Segments - Additional Informati

Segments - Additional Information (Details) $ in Thousands	12 Months Ended
Segments - Additional Information (Details) $ in Thousands	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| Segment	2
Net sales	$ 813,067	$ 899,547	$ 761,435
Foreign Countries [Member]
Segment Reporting Information [Line Items]
Net sales	46,100	54,200	48,000
Long-lived assets	10,300	10,400
Export Sales [Member] \| Foreign Countries [Member]
Segment Reporting Information [Line Items]
Net sales	$ 30,000	$ 31,700	$ 29,900
Sales [Member] \| Customer Concentration Risk [Member] \| Canada [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	4.40%	4.30%	4.60%

Segments - Schedule of reportin

Segments - Schedule of reporting information by segment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales		$ 813,067		$ 899,547	$ 761,435
Total operating income		72,405		83,941	49,301
Interest expense, net		(6,349)		(5,731)	(4,208)
Income before income taxes		66,056		78,210	45,093
Total Assets		541,631		542,634	484,549
Capital Additions, net		22,855		24,292	17,867
Depreciation and Amortization		23,099		21,657	20,885
Operating Segments [Member] \| Material Handling [Member]
Segment Reporting Information [Line Items]
Net sales		555,259		647,619	564,068
Total operating income	[1]	100,088		104,079	62,187
Total Assets		383,734		385,722	370,499
Capital Additions, net		20,452		22,528	17,173
Depreciation and Amortization		18,917		17,814	17,803
Operating Segments [Member] \| Distribution [Member]
Segment Reporting Information [Line Items]
Net sales		257,875		251,966	197,427
Total operating income	[2],[3]	10,967		15,862	15,428
Total Assets		112,323		119,652	88,757
Capital Additions, net		1,666		705	402
Depreciation and Amortization		3,197		2,889	2,208
Inter-company sales [Member]
Segment Reporting Information [Line Items]
Net sales		(67)		(38)	(60)
Corporate [Member]
Segment Reporting Information [Line Items]
Total operating income	[2],[5]	(38,650)	[4]	(36,000)	(28,314)
Total Assets		45,574		37,260	25,293
Capital Additions, net		737		1,059	292
Depreciation and Amortization	[6]	$ 985		$ 954	$ 874

[1] In the year ended December 31, 2023, the Company recognized a $ 10 million recovery of legal costs within the Material Handling Segment related to a settlement agreement with one of its insurers, as described in Note 9. $ 6.7 million of these recovered costs were originally incurred prior to 2023. In the year ended December 31, 2023, the Company recognized $ 0.7 million of executive severance, of which $ 0.4 million was recognized in the Distribution Segment related to severance and $ 0.3 million was recognized in Corporate related to charges for acceleration of stock compensation. In the year ended December 31, 2022, the Company recognized a $ 0.6 million impairment loss on an investment in a legacy joint venture within the Distribution Segment as described in Note 1. Corporate includes $ 1.3 million of consulting costs to improve the Company's capabilities to screen and execute large acquisitions in addition to $ 2.6 million of acquisition related costs associated with the Signature acquisition, as described in Note 15, for the year ended December 31, 2023. The Company recognized $ 3.2 million, $ 1.4 million and $ 0.7 million of expense to the estimated environmental reserve, net of expected insurance recoveries in the years ended December 31, 2023, 2022 and 2021, respectively, as described in Note 9. Environmental charges are not included in segment results and are shown with Corporate. Corporate depreciation and amortization includes amortization of deferred financing costs of $ 0.3 million, $ 0.4 million and $ 0.5 million in the years ended December 31, 2023, 2022 and 2021, respectively.

Segments - Schedule of report_2

Segments - Schedule of reporting information by segment (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Expense from changes to estimated environmental reserve	$ 3.2	$ 1.4	$ 0.7
Executive severance cost	0.7
Strategic Consulting Costs	1.3
Signature Systems [Member]
Segment Reporting Information [Line Items]
Business Combination, Acquisition Related Costs	2.6
Corporate [Member]
Segment Reporting Information [Line Items]
Deferred financing costs	0.3	0.4	$ 0.5
Material Handling [Member]
Segment Reporting Information [Line Items]
Recovery of legal costs	10
Insurance Recoveries	6.7
Distribution [Member]
Segment Reporting Information [Line Items]
Impairment loss on an investment		$ 0.6
Distribution [Member] \| Executive Severances [Member]
Segment Reporting Information [Line Items]
Executive severance cost	0.4
Corporate [Member] \| Executive Severances [Member]
Segment Reporting Information [Line Items]
Executive severance cost	$ 0.3

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands				12 Months Ended
	Feb. 08, 2024 USD ($)	Feb. 06, 2024 USD ($)	Jan. 12, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Subsequent Event [Line Items]
Acquisition of Signature Systems				$ 160	$ 27,626	$ 35,758
Operating income				72,405	83,941	49,301
Total repayment amount of Senior Unsecured Notes				$ 0	$ 0	$ 40,000
Loan agreement amendment description				On September 29, 2022, the Company entered into a Seventh Amended and Restated Loan Agreement (the “Seventh Amendment”), which amended the Sixth Amended and Restated Loan Agreement (the "Sixth Amendment"), dated March 12, 2021. The Seventh Amendment, among other things, extended the maturity date to September 2027 from March 2024.
Subsequent Event [Member] \| Amendment No. 1 to the Seventh Amended
Subsequent Event [Line Items]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 40,000
Debt Instrument, Periodic Payment, Principal	$ 20,000
Debt Instrument, Payment Terms	Term Loan A will amortize in quarterly installment payments in aggregate annual amounts equal to $20 million in years 1 and 2 and $40 million in years 3 through 5. Term Loan A may be voluntarily prepaid at any time
Debt Instrument, Face Amount	$ 400,000
Loan agreement amendment description	On February 8, 2024, the Company entered into Amendment No. 1 to the Seventh Amended and Restated Loan Agreement (“Amendment No. 1”), which amended the Seventh Amended and Restated Loan Agreement (the "Loan Agreement” – see also Note 10) dated September 29, 2022 (collectively, the “Amended Loan Agreement”).
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
Financing Receivable, Deferred Commitment Fee	$ 9,000
Subsequent Event [Member] \| Debt Instrument Covenant Period Three [Member] \| Amendment No. 1 to the Seventh Amended
Subsequent Event [Line Items]
Maximum leverage coverage ratio	3.25
Subsequent Event [Member] \| Debt Instrument Covenant Period Two [Member] \| Amendment No. 1 to the Seventh Amended
Subsequent Event [Line Items]
Maximum leverage coverage ratio	4
Subsequent Event [Member] \| Signature Systems [Member]
Subsequent Event [Line Items]
Acquisition of Signature Systems	$ 350,000
Effective date of acquisition	Feb. 08, 2024
Name of acquired entity	Signature Systems
Business Acquisition, Description of Acquired Entity	The acquisition was completed by acquiring the stock of Signature CR Intermediate Holdco, Inc. Goodwill acquired in this transaction will not be tax deductible.
Revenues	$ 110,000
Subsequent Event [Member] \| SOFR,RFR,SONIA,EURIBOR,CORRA Based borrowing [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Margin on variable rate (percent)	1.35%
Subsequent Event [Member] \| SOFR,RFR,SONIA,EURIBOR,CORRA Based borrowing [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Margin on variable rate (percent)	0.775%
Subsequent Event [Member] \| Base Rate [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Margin on variable rate (percent)	2.35%
Subsequent Event [Member] \| Base Rate [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Margin on variable rate (percent)	1.775%
Subsequent Event [Member] \| Senior Unsecured Notes [Member]
Subsequent Event [Line Items]
Repayment of Remaining Senior Unsecured Notes		$ 12,000
Repayment of debt			$ 26,000