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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Business Combinations [Abstract]      
Redeemable Noncontrolling Interest
 
 
Redeemable Noncontrolling interest
 
 
(dollars in thousands)
Beginning balance, February 24, 2012
 
$
25,630

Distributions to noncontrolling interests
 
(1,260
)
Net income attributable to noncontrolling interests
 
2,410

Ending balance, December 31, 2012
 
$
26,780

Distributions to noncontrolling interests
 
(2,710
)
Net income attributable to noncontrolling interests
 
4,520

Redemption value adjustments for noncontrolling interests
 
890

Ending balance, December 31, 2013
 
$
29,480

Distributions to noncontrolling interests
 
(580
)
Net income attributable to noncontrolling interests
 
810

Ending balance, March 11, 2014
 
$
29,710


    
Schedule of Purchase Price Allocation
The following table summarizes the fair value of consideration paid for Allfast, and the assets acquired and liabilities assumed:
 
 
October 17, 2014
 
 
(dollars in thousands)
Consideration
 
 
Cash paid, net of cash acquired
 
$
351,220

Deferred purchase price(a)
 
15,730

Total consideration
 
$
366,950

Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
Receivables
 
$
8,950

Inventories
 
19,850

Intangible assets other than goodwill(b)
 
165,000

Prepaid expenses and other assets
 
340

Property and equipment, net
 
26,490

Accounts payable and accrued liabilities
 
(2,620
)
Total identifiable net assets
 
218,010

Goodwill(c)
 
148,940

 
 
$
366,950

___________________________
(a) Of the deferred purchase price, approximately $8.7 million, represents the Company's best estimate of the underlying obligations for certain tax amounts the Company has agreed to reimburse the previous owner in order to acquire additional tax attributes. In addition, it includes approximately $7.0 million of other liabilities which the Company has agreed to pay on behalf of the previous owner, of which approximately $4.1 million was paid during 2014.
(b) Consists of approximately $83.0 million of customer relationships with an estimated useful life of 18 years, $33.0 million of technology and other intangible assets with an estimated useful life of 15 years and $49.0 million of trademark/tradename with an indefinite useful life.
(c) All of the goodwill was assigned to the Company's Aerospace reportable segment and is expected to be deductible for tax purposes.
 
 
Year ended December 31, 2013
 
 
(dollars in thousands)
Consideration
 
 
Initial cash paid net of cash acquired
 
$
105,790

Deferred/contingent consideration(a)
 
12,370

Total consideration
 
$
118,160

Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
Receivables
 
$
12,420

Inventories
 
27,350

Intangible assets other than goodwill(b)
 
41,140

Prepaid expenses and other assets
 
17,480

Property and equipment, net
 
20,930

Accounts payable and accrued liabilities
 
(12,510
)
Deferred income taxes
 
(8,900
)
Other long-term liabilities
 
(18,580
)
Total identifiable net assets
 
79,330

Goodwill(c)
 
38,830

 
 
$
118,160

__________________________
(a) Deferred/contingent consideration includes approximately $9.8 million of both short-term and long-term deferred purchase price, based on set amounts and fixed payment schedules per the purchase agreement, and an additional $2.6 million of contingent consideration to be paid based on a multiple of future earnings, as defined.
(b) Consists of approximately $27.6 million of customer relationships with an estimated weighted average useful life of 10 years, $1.5 million of technology and other intangible assets with an estimated weighted average useful life of four years and $12.1 million of trademark/trade names with an indefinite useful life.
(c) Goodwill includes approximately $2.9 million of bargain purchase gain resulting from the acquisition of the towing technology and business assets of AL-KO, which is included in other expense, net in the accompanying consolidated statement of income for the year ended December 31, 2013.
 
 
February 24, 2012
 
 
(dollars in thousands)
Consideration
 
 
Initial cash paid net of working capital adjustment
 
$
59,200

Contingent consideration (a)
 
8,490

Total consideration
 
$
67,690

Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
Receivables
 
$
8,760

Inventories
 
4,200

Intangible assets other than goodwill (b)
 
48,400

Other assets
 
2,450

Accounts payable and accrued liabilities
 
(4,270
)
Long-term liabilities
 
(1,610
)
Total identifiable net assets
 
57,930

Redeemable noncontrolling interest
 
(25,630
)
Goodwill (c)
 
35,390

 
 
$
67,690

__________________________
(a) The contingent consideration represented the Company's best estimate, based on its review, at the time of purchase, of the underlying potential obligations estimated at a range of $8 million to $9 million, of certain Seller tax-related liabilities for which the Company indemnified the Sellers as part of the purchase agreement. During 2012, the Company paid $4.9 million of additional purchase price related to the contingent consideration. No additional amounts were paid during 2013 or 2014. The remaining liability range of $3.1 million to $4.1 million continues to represent the Company's best estimate of the remaining potential obligation at December 31, 2014.
(b) Consists of $33.0 million of customer relationships with an estimated 10 year useful life, $7.9 million of trademarks/trade names with an indefinite useful life and $7.5 million of technology and other intangible assets with an estimated eight year useful life.
(c) All of the goodwill was assigned to the Company's Packaging reportable segment and is expected to be deductible for tax purposes
Business Combination, Results Of Operations Of Acquiree Since Acquisition    
The results of operations of Arminak are included in the Company's results beginning February 24, 2012. The actual amounts of net sales and operating profit of Arminak included in the accompanying consolidated statement of income for the year ended December 31, 2012 are $65.9 million and $8.0 million, respectivel
Business Acquisition, Pro Forma Information
 
 
Pro forma Combined (a)
 
 
Year ended December 31,
 
 
2014
 
2013
 
 
(dollars in thousands)
Net sales
 
$
1,548,220

 
$
1,442,490

Net income attributable to TriMas Corporation
 
$
69,430

 
$
76,260

___________________________
(a)The supplemental pro forma results reflect certain material adjustments, as follows:
1.
Pre-tax pro forma adjustments for amortization expense of $6.0 million and $6.8 million for the years ended December 31, 2014 and December 31, 2013 on the intangible assets associated with the acquisition.
2.
Pre-tax pro forma adjustments of $4.9 million and $7.1 million for the years ended December 31, 2014 and December 31, 2013, respectively, to reflect interest expense incurred on the incremental term loan A and revolver borrowings incurred in order to fund the acquisition.
 
The following table summarizes the supplemental pro forma results of the combined entity as if the acquisition had occurred on January 1, 2011. The supplemental pro forma information presented below is for informational purposes and is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated on January 1, 2011:
 
 
Pro forma Combined (a)
 
 
Year ended December 31,
 
 
2012
 
2011
 
 
(dollars in thousands)
Net sales
 
$
1,280,940

 
$
1,144,020

Net income attributable to TriMas Corporation
 
$
35,850

 
$
54,540

___________________________
(a) The supplemental pro forma results reflect certain adjustments, such as adjustments for acquisition costs incurred and purchase accounting adjustments related to step-up in value and subsequent amortization of inventory and intangible assets