Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Operations and Summary of Significant Accounting Policies

(in thousands)

At December 31,
2013		2012

$	117,571	$	76,130

Schedule of estimated useful lives over which depreciation of software, machinery and equipment is provided for using accelerated methods

Software		3 to 5 years
Machinery and equipment		3 to 10 years

Reconciliation of basic earnings per share ("EPS") to diluted EPS

(in thousands, except per-share amounts)

	Year Ended December 31,
	2013		2012		2011

Net income available to common stockholders	$	50,971	$	41,918	$	50,900

Basic weighted average shares outstanding	48,521		48,339		48,974

Dilutive effect of potential common stock equivalents — stock options	152		73		49

Diluted weighted average shares outstanding	48,673		48,412		49,023

Net earnings per share:
Basic	$	1.05	$	0.87	$	1.04
Diluted	$	1.05	$	0.87	$	1.04

Potentially dilutive securities excluded from earnings per diluted share because their effect is anti-dilutive	—		1,700		1,363

Schedule of components of accumulated other comprehensive income

(in thousands)

	December 31,
	2013			2012

Translation adjustments, net of tax of $854 and $883 as of 2013 and 2012, respectively	$	18,283		$	12,342
Unamortized pension adjustments, net of tax of $43 and $46 as of 2013 and 2012, respectively	(197		)	(243		)
Total accumulated other comprehensive income	$	18,086		$	12,099

Schedule of Company's stock-based compensation activity

(in thousands)

	Years Ended December 31,
	2013			2012			2011

Stock-based compensation expense recognized in operating expenses	$	12,053		$	10,205		$	6,133

Tax benefit of stock-based compensation expense in provision for income taxes	4,225			3,610			2,261

Stock-based compensation expense, net of tax	$	7,828		$	6,595		$	3,872

Fair value of shares vested	$	12,090		$	10,195		$	6,194

Proceeds to the Company from the exercise of stock-based compensation	$	15,057		$	4,925		$	214

Tax benefit from exercise of stock-based compensation, including shortfall tax benefits	$	(2,645	)	$	(233	)	$	(1,554	)

(in thousands)

	At December 31,
	2013		2012		2011

Stock-based compensation cost capitalized in inventory	$	374	$	335	$	345

Schedule of margin by which the reporting units passed the annual goodwill impairment test

							Pre-Tax
	Step 1		Discount				Operating
	Pass		Rate (1)		CAGR (2)		Margin (3)
	Margin		Increases		Decreases		Decreases

S&P Clever	9	%	7	%	6	%	10	%
France	10	%	13	%	19	%	15	%
Australia	4	%	2	%	2	%	6	%

(1) Hypothetical percentage increases noted in the discount rates, holding all other assumptions constant, would not have decreased the fair values of the reporting units below their carrying values, and thus it would not result in the reporting unit failing Step 1 of the goodwill impairment test.

(2) Hypothetical percentage decreases noted in the CAGR, holding all other assumptions constant, would not have decreased the fair values of the reporting units below their carrying values.

(3) Hypothetical annual average percentage decreases noted in average annual pre-tax operating margins, holding all other assumptions constant, would not have decreased the fair value of the reporting units below their carrying values.

Schedule of changes in the carrying amount of goodwill, by segment

(in thousands)

	North						Asia
	America			Europe			Pacific			Total

Balance as of January 1, 2012:
Goodwill	$	84,567		$	34,538		$	1,948		$	121,053
Accumulated impairment losses	(10,666		)	(10,538		)	—			(21,204		)

	73,901			24,000			1,948			99,849
Goodwill acquired	3,581			19,245			—			22,826
Foreign exchange	101			364			31			496
Impairment	—			(2,346		)	—			(2,346		)
Reclassifications (1)	1,156			—			—			1,156

Balance as of December 31, 2012:
Goodwill	89,405			54,147			1,979			145,531
Accumulated impairment losses	(10,666		)	(12,884		)	—			(23,550		)

	78,739			41,263			1,979			121,981
Goodwill acquired	918			674			—			1,592
Goodwill disposed	(480		)	—			—			(480		)
Foreign exchange	(248		)	1,393			(273		)	872
Impairment	—			—			—			—
Reclassifications (2)	5,893			(640		)	—			5,253

Balance as of December 31, 2013:
Goodwill	95,488			55,574			1,706			152,768
Accumulated impairment losses	(10,666		)	(12,884		)	—			(23,550		)
	$	84,822		$	42,690		$	1,706		$	129,218

(1)(2) See footnotes following table entitled Indefinite-Lived Intangibles, below.

Schedule of changes in the carrying amounts of finite-lived intangible assets subject to amortization

(in thousands)

	Gross					Net
	Carrying		Accumulated			Carrying
Patents	Amount		Amortization			Amount

Balance at January 1, 2012	$	6,681	$	(4,767	)	$	1,914
Amortization	—		(610		)	(610		)
Foreign exchange	3		—			3
Balance at December 31, 2012	6,684		(5,377		)	1,307
Amortization	—		(611		)	(611		)
Foreign exchange	5		—			5
Balance at December 31, 2013	$	6,689	$	(5,988	)	$	701

	Gross						Net
	Carrying			Accumulated			Carrying
Unpatented Technology	Amount			Amortization			Amount

Balance at January 1, 2012	$	4,129		$	(1,395	)	$	2,734
Amortization	—			(622		)	(622		)
Foreign exchange	32			—			32
Reclassifications (3)	1,200			—			1,200
Balance at December 31, 2012	5,361			(2,017		)	3,344
Disposals	(1,530		)	158			(1,372		)
Amortization	—			(3,398		)	(3,398		)
Foreign exchange	799			—			799
Reclassifications (4)	14,347			—			14,347
Balance at December 31, 2013	$	18,977		$	(5,257	)	$	13,720

	Gross						Net
Non-Compete Agreements,	Carrying			Accumulated			Carrying
Trademarks and Other	Amount			Amortization			Amount

Balance at January 1, 2012	$	16,276		(5,361		)	10,915
Acquisition	32,355			—			32,355
Disposal	(2,212		)	1,628			(584		)
Amortization	—			(4,309		)	(4,309		)
Foreign exchange	(2		)	—			(2		)
Reclassifications (1)(3)(5)	(4,426		)	—			(4,426		)
Removal of fully amortized asset	(5,040		)	5,040			—
Balance at December 31, 2012	36,951			(3,002		)	33,949
Acquisition	4,130			—			4,130
Disposal	(200		)	74			(126		)
Amortization	—			(636		)	(636		)
Foreign exchange	(728		)	—			(728		)
Reclassifications (2)(4)(6)(7)	(26,588		)	—			(26,588		)
Removal of fully amortized asset	(10		)	10			—
Balance at December 31, 2013	$	13,555		$	(3,554	)	$	10,001

	Gross					Net
	Carrying		Accumulated			Carrying
Customer Relationships	Amount		Amortization			Amount

Balance at January 1, 2012	$	18,940	(6,647		)	12,293
Amortization	—		(2,052		)	(2,052		)
Foreign exchange	57		—			57
Reclassifications (5)	1,700		—			1,700
Balance at December 31, 2012	20,697		(8,699		)	11,998
Amortization	—		(2,465		)	(2,465		)
Foreign exchange	229		—			229
Reclassifications (6)	1,923		—			1,923
Balance at December 31, 2013	$	22,849	$	(11,164	)	$	11,685

(1)(2)(3)(4)(5)(6)(7) See footnotes following table entitled Indefinite-Lived Intangibles, below.

Schedule of estimated future amortization of intangible assets

At December 31, 2013, estimated future amortization of intangible assets was as follows:

(in thousands)

2014	$	7,078
2015	6,162
2016	5,905
2017	3,953
2018	3,059
Thereafter	9,950
	$	36,107

Schedule of changes in the carrying amounts of indefinite-lived trade name and IPR&D assets not subject to amortization

					Net
					Carrying
Indefinite-Lived Intangibles	Trade Name		IPR&D		Amount

Balance at December 31, 2012	$	—	$	—	$	—
Reclassifications (7)	616		4,742		5,358
Foreign exchange	—		308		308
Balance at December 31, 2013	$	616	$	5,050	$	5,666

(1) Reclassifications in 2012 related to finalizing accounting for acquisitions, including a $1.7 million increase to goodwill with a corresponding decrease in non-compete agreements, trademarks and other related to the Automatic Stamping acquisition, partly offset by $0.5 million decrease to goodwill with a corresponding increase in other noncurrent assets non-compete agreements, trademarks and other related to the Fox Industries acquisition.

(2) Revisions related to the Keymark acquisition included a $5.9 million increase in goodwill with a corresponding decrease in non-compete agreements, trademarks and other.

(3) Reclassifications in 2012 related to finalizing accounting for acquisitions, including a $1.2 million increase to unpatented technology with a corresponding decrease in non-compete agreements, trademarks and other related to the Keymark acquisition.

(4) Reclassifications in 2013 related to finalizing accounting for acquisitions, including increases of $12.8 million and $1.5 million related to the S&P Clever and CarbonWrap acquisitions, respectively, with a corresponding decrease in non-compete agreements, trademarks and other.

(5) Reclassifications in 2012 related to finalizing accounting for acquisitions, including increases of $1.3 million and $0.4 million to customer relations related to the Fox Industries and Automatic Stamping acquisitions, respectively, with a corresponding decrease in non-compete agreements, trademarks and other.

(6) Reclassifications in 2013 related to finalizing accounting for acquisitions, including a $1.9 million increase to customer relations related to the S&P Clever acquisition with a corresponding decrease in non-compete agreements, trademarks and other.

(7) Reclassifications in 2013 related to finalizing accounting for the S&P Clever acquisition, including increases to IPR&D indefinite-lived assets as well as the reclassification of the Quik-Drive trade name from other non-current assets.

Schedule of amortizable and indefinite-lived assets, net, by segment

	At December 31, 2012
	Gross					Net
	Carrying		Accumulated			Carrying
Total Intangible Assets	Amount		Amortization			Amount

North America	$	37,992	$	(12,012	)	$	25,980
Europe	31,701		(7,083		)	24,618
Total	$	69,693	$	(19,095	)	$	50,598

	At December 31, 2013
	Gross					Net
	Carrying		Accumulated			Carrying
Total Intangible Assets	Amount		Amortization			Amount

North America	$	34,520	$	(15,909	)	$	18,611
Europe	33,217		(10,055		)	23,162
Total	$	67,737	$	(25,964	)	$	41,773